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 Position :  Home >>   Corporate Banking>> Settlement Services>> Agent Collection And Payment  
 

 

Agent Collection And Payment

Definition

This is a form of financial settlement service provided by BOCOM, which has been entrusted by the recipient and payees (users) to conduct fund transfer from payees’ accounts at the bank to the recipient units, in a lump-sum or by installments at an appointed time.

Categories

BOCOM undertakes an agency role in the collection of telecommunications charges, public utility fees, various kinds of insurance premiums as well as school tuition and miscellaneous fees through telephone banking, bank card deduction and self-service multi-media terminals.

Salient features

(1)   Time-saving, prompt and convenient: Recipient is not required to conduct collection through someone else and payee is not required to make special trips to make payments;

(2)   Timely financial settlement: BOCOM conducts timely financial settlement between payees and recipients at a time agreed by them, that meet the interest of both parties

(3)   Adopt various service items such as timely reminders and delays in payment deductions that ensure BOCOM a highly successful collection rate.

Application procedure

(1)   Recipient signs a fee collection agreement with BOCOM and opens a deposit account at the bank

(2)   Payee completes successful application of a bank card and signs letter of authorization for agency payment;

(3)   Recipient sends agency collection figures in a computer diskette to BOCOM on time



 



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