Receivables Management
Payables Management
UOB BizMoney
Help your business growth with sustainable improvements in your working capital without collateral.
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Remittance and other services
Business Internet Banking Plus (BIBPlus)
One-stop e-banking platform for your cash and trade transactions
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Product Feature
Timely and accurate information is the key to efficient accounts receivable (AR) management. With UOB Virtual Account solution- You can streamline and automate your AR reconciliation more effectively.
- End-to-end solution enables you to quickly identify all incoming remittances from your clients regardless of the payment type and currency.
Key Feature
- The bank assigns a range of virtual account numbers for you to provide to your clients for their respective payments to you. Alternatively, you can decide the range of virtual account numbers to your clients to be set up at the Bank e.g. using customer number as part of the virtual account number.
- Your clients make payments to you through either manual or electronic payment channels, they will indicate the virtual account numbers assigned to them as the crediting account numbers.
- Upon receiving these payments, the bank will link the virtual account numbers to your UOB bank account for the account crediting. The respective virtual account numbers corresponding to your clients will be shown in your bank statement enabling you to identify the payers and ease for your AR reconciliation
Benefit
- Streamline AR reconciliation through effective payer identification.
- Reduce Days Sales Outstanding (DSO) led to improved working capital.
- Improve relationship with your clients and fasten the process of your clients’ credit facility
- Support Thai and foreign currency payment
- Conveniently get effective reconciliation
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To enjoy this service the companies must submit all relevant data to the bank.
- The bank will debit from the company accounts and simultaneously credit to their staff accounts on the effective date as specified in the payment instructions.
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SMART Credit
Money transfer service to counterparty or beneficiary who has accounts with clearing member banks.
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Bill Payment
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- UOB counters, ATMs, CDMs (Cash Deposit Machine)
- UOB Call Center or UOB Internet
- Mobile Banking and other bank channels
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Direct Debit
Direct Debit streamlines your collection process by allowing UOB to directly collect all payments on your behalf from your customer's account maintained at the Bank.
- Simplify customer bill processing and improve productivity
- Less administrative work
- Maximize liquidity
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Cash Management
Payroll
To enjoy this service the companies must submit all relevant data to the bank.
- The bank will debit from the company accounts and simultaneously credit to their staff accounts on the effective date as specified in the payment instructions.
Cash Management
SMART Credit
Money transfer service to counterparty or beneficiary who has accounts with clearing member banks.
- SMART Credit Next Day - transfer order before the value date.
- SMART Credit Same Day - transfer order on value date
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Cash Collection
Reduce risk in cash handling associated with cash collections by outsourcing with UOB’s Cash Collection services.
- Reduce risk
- Simply bank account
- Simplified process
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Bill Payment
Bill Payment simplifies invoice collection by allowing your customers to pay you through various bank’s channels.
- UOB counters, ATMs, CDMs (Cash Deposit Machine)
- UOB Call Center or UOB Internet
- Mobile Banking and other bank channels
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Direct Debit
Direct Debit streamlines your collection process by allowing UOB to directly collect all payments on your behalf from your customer's account maintained at the Bank.
- Simplify customer bill processing and improve productivity
- Less administrative work
- Maximize liquidity
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