Collection of money from your debtors
This facility is very useful for companies collecting regular monthly instalments such as insurance premiums, service fees etc. This ensures that client’s premiums are paid on time and your company can manage its cash flow with more control over incoming funds.
Payment of Monies to creditors
This method of payment is a very cost effective way of paying creditors compared to cheque payments. It eliminates cheques going astray or fraud.
Payments of salaries and wages
Rather than paying out staff by cheque or cash which is more costly. It will ensure the safety of staff who otherwise may have received large cash payments, which they will have to take home with them on public transport, leaving them open to robbery. It also ensures that staff have their funds available on pay date.