PRODUCT PURPOSE
This payment service enables collection of large deposit (high volume) funds into a customer account via the Horizon Bank branch network. These payments define specific payment details for the collection account.
FEATURES AND FUNCTIONALITY
- Creation of customized deposit slips – catering to customer specific requirements.
- Customized bank procedures to enable the capture of specific customer information during collection.
- Validation of payment data before processing into a customer account.
- Provision of reconciliation data as well transaction reports for customer collections.
- Collections through the Bank’s branches.
Channels that Support these transactions are;
- Branch/Agency
BENEFITS
- Customized collection services for high volume payments.
- Reduced operational costs for customers with high volume cash payments.
- Simplified reconciliation inputs for high volume payment collections.
- Real-time value for collections made on the client’s accounts.