Money Transmission

BusinessMaster International

This service gives you the timely and accurate information you need to maximise cash efficiency, reduce exposure to exchange rate risk and minimise administration. You can obtain balance and transaction details, transfer funds between your accounts and make international and domestic payments - all from the convenience of your company PC.

BusinessMaster International operates within a Windows environment making it especially user friendly. It can also operate within a LAN environment.

Timely, accurate information

Balance and transaction information on your local and foreign currency accounts which are held with Barclays Bank based in any country is available giving you a clear and accurate picture of your finances at all times.

This information is updated daily.

Greater control, improved efficiency

You gain access to a global network. This puts you in greater control of your funds and will help you optimise cash management and cashflow administration. For example, you will quickly be able to identify surplus balances, which could be transferred into interest earning accounts; and it will help you to foresee cashflow problems which require immediate action - so that you can avoid incurring interest charges.

Accounts when in the same currency type can be grouped for consolidation purposes. Account data can be downloaded for reconciliation, analysis and forecasting to other software packages (such as Microsoft Excel or Lotus 1-2-3.)

This information is usually updated at the close of business each day.

Instant transfers between accounts

Being able to transfer funds instantly not only helps minimise overdraft interest and maximise interest earned on surplus funds, but also saves time, reduces paperwork and eliminates the risk of error in transcribing the amounts involved.

Where exchange controls allow you can transfer funds in the same currency, as well as cross currency and cross-border to most countries around the world. This means that accounts need not be in the same currency or indeed the same country.

Domestic and international payments

Payments can be made to payees within the country in which you are based and internationally, eliminating time-consuming, paper-based transactions, reducing administration and saving time. Money can be paid from accounts held at our operating sites in a wide range of currencies, to virtually any destination in the world (subject to pre-arranged limits on the amounts agreed with your branch).

Electronic mail

It is quick and easy to send routine messages to us, for example, to order cheque books or statements, or stop cheques. A free format option enables you to send any other message you wish, for our prompt attention.

Hardware requirements

All you need is a PC and a modem. We supply and install all the software.

Most modern PCs can be used. The minimum specifications are :

- 512kb RAM;
- Hard and floppy disk drives (either 3.5" or 5.25");
- Hayes compatible modem with minimum speed 1200BPS;
- PC or MSDOS v2.1 or higher.

At the forefront of electronic banking

All our electronic banking services, including BusinessMaster International, are under continual development to ensure you get the fast and accurate information you need to help improve business efficiency and profitability.

Next steps

Please contact a / your Relationship Manager if you wish to discuss your requirements in more detail.
 

Back to top