Citibank PayLink®
What is it?
Citibank PayLink provides a complete payment solution for your local currency and USD payments, providing your business enterprises with a convenient, fast, reliable and secure way to make in-country disbursements to your suppliers, vendors, shareholders, employees, other companies and individuals.
How does it work?
- You input your payment instructions into the Citibank PayLink system, via a download from your system or manual input. The information regarding beneficiaries (name, account number, etc.) is entered only once.
- Transmit Beneficiary information and Payment instructions to Citi®, as well as, provide authorization capabilities.
- Payment information can be accessed using Citi's web-based electronic platform, CitiDirect®.
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Citibank PayLink makes the payments, Bahamian Dollars or USD, according to the client's instructions:
- Manager's cheque issued at a Citi branch for collection or delivery
- Book Transfers (to beneficiaries with Citi accounts)
- Funds Transfer (to beneficiaries with accounts at other banks)
What are the benefits?
- Flexibility: The wide variety of PayLink payment instruments gives you the flexibility you need to make your payments.
- Cost Reduction: Increased automation of your payment process will reduce internal processing & administrative costs.
- Security: A number of control mechanisms help ensure a high level of security. For example, access to the system is restricted to authorised company personnel through user profiles, which define the functions operators are allowed to perform.
- Customer Service: With a local telephone call you can access our customer service area, CitiService®. You may request a visit from a sales officer, information on the system’s functionality, training for new users, or other services that will help you meet your local and/or international needs.
What are the requirements?
US Payments
What is it?
You can request that we effect payments on your behalf by wire transfer, debiting your account.
How does it work?
These requests can be submitted by mail, telex or secured fax but the preferred method of transmission is to initiate electronically through CitiDirect Online.
What are the benefits?
- Immediate access: Funds transferred into the account are immediately accessible. Suppliers around the world can immediately access funds that you transfer into their account.
- Convenience: When CitiDirect Online is used as the means of requesting the transfer, the process is quick and easy, done right from your office, without the hassle of a call back confirmation.
What are the requirements?
- You will need to have a corporate local demand deposit or savings account with Citibank Bahamas or an account with any Citi branch worldwide
- The necessary documentation needs to be completed.
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The following hardware requirements need to be in place:
- Pentium 100 MHz
- SVGA 256 Colour monitor, 800x600 pixels resolution
- Netscape Navigator 4.06 or Microsoft Explorer 4.0 or a later version with 128-bit encryption
- 33.600 bps Modem or higher
- Windows 95 / 98 / NT Service Pack 3
- Internet Access through an Internet Service Provider
WorldLink®
What is it?
WorldLink is a complete cross-border payment system serving corporations and financial institutions worldwide. It provides a convenient, reliable and cost-effective way of making global payments in the currencies of the countries.
How does it work?
- Information and instructions are accepted via CitiDirect, our web based platform, or SWIFT.
- WorldLink encompasses both draft (cheque) and electronic transfer capabilities through WorldLink Cheque, WorldLink Remote Cheque and WorldLink Electronic Funds Transfer.
- The WorldLink is both Internet and SWIFT based.
- Multiple security levels including data encryption, Des gold generated dynamic passwords and ID assigned authorization.
- WorldlLink Check allows you to draft a foreign currency check at your own office, allowing you to control the entire issuance process from production through mailing.
- WorldLink Remote Cheque is a foreign currency payment cheque drafted by Citi's operations center in Buffalo, New York or London.
- WorldLink Electronic Funds Transfer is the issuance of payment details to Citi so that Citi can initiate an electronic transfer of foreign currency to a beneficiary.
What are the benefits?
- Flexibility: Issue or request payments in over 100 currencies, including the Euro, from your own offices. Available payment types include on-site cheques, remote cheques, funds transfers and international ACH. Foreign exchange is integrated into the payment processing cycle for maximum ease.
- Convenience: With this one product, you can handle virtually all of your foreign currency payment needs. We estimate that 95% of international cross-border transactions are covered by currencies included in WorldLink.
- Control: Because you initiate all payments from your PC, you have total control over your payment requests. You place payment orders at your convenience. For regularly sent transfers, you can maintain a database of predefined transaction, preformats, to further simplify payment request preparation. Through the reach of Citi’s global network, you can view and print daily reconcilement in every currency, up-to-date cheque status information, automatic replenishment of cheque stock and immediate stop payments for most currencies.
- Dedicated Client Support: As a Citi client you are assured of the highest levels of customer service. Full support is provided for implementation as well as on an on-going basis to ensure a smooth functioning of your foreign currency payment system.
- Established Service Provider: Citi is a worldwide leader in the cross-border payment and collection services industry. Citi is continually building upon its advanced processing systems, global banking presence and integrated communications network to offer a sophisticated international cash management solution.
What are the requirements?
- We recommend that you maintain a corporate chequing or savings account with Citibank Bahamas or Citibank N.A. New York.
- A line of credit with Citibank, N.A., or Bahamas must be maintained.
- The necessary documentation needs to be completed.
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The following hardware requirements need to be in place:
- Pentium 100 MHz
- SVGA 256 Colour monitor, 800x600 pixels resolution
- Netscape Navigator 4.06 or Microsoft Explorer 4.0 or a later version with 128-bit encryption
- 33.600 bps Modem or higher
- Windows 95 / 98 / NT Service Pack 3
- Internet Access through an Internet Service Provider