Tuesday October 22,2019

Electronic Fund Transfer

Nabil EFT Highlights

  • Make multiple payments of small to large values to various accounts in Nabil Bank through secured internet channel (IP Sec VPN, SFTP).
  • Best suited for businesses having recurring need to make numerous payments to its associated stakeholders such as vendors/suppliers, employees.
  • No need to write cheques
  • No need to write cheques
  • Free of Cost Service
  • Same day transfers

Benefits

  • Enhance efficiency of your operational and administrative processes as the process is swift secured and runs without moving a paper.
  • Reduce costs associated with initiating and processing payments to your staffs, your suppliers, and vendors

How does Nabil EFT work?

After signing a service agreement

  • IT teams at both ends coordinate to establish secure internet connectivity

System Requirements

  • Dedicated internet service.
  • Technical ability to generate transaction files and stage in SFTP server
  • SFTP server(s)
  • IP SEC VPN connectivity (established by IT teams from Bank and your organization)
  • Ability of core accounting system to generate send/receive payment instructions to/from SFTP server and process them (Optional)
  • Contact your Account Manager right away for this service!

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