Standard Bank Offshore has released a multi-currency cash management system for intermediaries via t...
Standard Bank Offshore has released a multi-currency cash management system for intermediaries via the internet
The system, named Rapport, enables IFAs and other professional clients of the bank to manage their accounting and cash management needs through a modem link connection to the group
Roger Williams, senior manager, business development and marketing at Standard Bank Offshore, said: "This gives our clients online access to their transactions, both cleared and uncleared and enables them to see balances and transfer funds as part of a comprehensive multi-currency cash management service
Typical users of the system would be intermediaries who maintain client accounts overseas, businesses operating import/export accounts overseas, those operating administration accounts overseas and expatriate accounts
The Rapport system is installed on a client's PC and uses a modem link to download account details from Standard Bank in Jersey or the Isle of Man
It then allows the client to review bank account balances, search for specific bank transactions, transfer surplus funds to a term deposit account, make payments to third parties or transfer funds between offshore accounts
The system operates on all types of the group's bank accounts including its Professional Demand, Delta, money market deposit and Optimum accounts
Williams said: "A flexible interest rate and fee package can be negotiated for Rapport clients including paying attractive interest rates on aggregate balances of accounts under the control of the client
Second preference falls at the third
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