FEATURES –

Collection Products

a)       Union Speed (LCC)

High Value & Non-high value local cheques are deposited at CMS Branches and CMS centres and payout made to clients on the pre determined day supported by a detailed MIS

b)       Union Speed (UCC)

Cheques/instruments drawn on outstation locations, both within and outside network, are collected and payout made to clients on the pre-determined day supported by a detailed MIS

c)        Centralized debits/credits

Union Bank cheques of various locations held by clients are lodged in any CMS Branch from where the cheques are debited on line and proceeds credited to  clients account.  Similarly payment instructions of clients are also carried out  for effecting payment/credit at various locations.

d)       Mandate based debits/credits

Debit/credit mandates are received from clients which are processed and debits/credits afforded accordingly

e)       Virtual Account

RTGS/NEFT remittances received in Virtual account are decoded and credit afforded to the customer’s account without having to disclose the actual account number to the remitter, and provides customized MIS.

 Payment Products:

a)       DD Drawing arrangement:

This facility can be availed by Banks who can draw co branded DDs on our designated Branches

b)       Remote Pay Order:

This is a facility extended to Corporates who would like to have their payments made at different locations.

c)        Cheque printing :

Multicity cheques will be printed by our Bank at desired locations on behalf of the clients in order to meet their payment requirements

d)       Bulk upload of RTGS/NEFT:

Clients who need to transmit a number of remittances through RTGS/NEFT can avail of this facility.

CONTACT DETAILS

Corporates who desire to avail any of these facilities may get in touch any of our    CMS Branches or AGM at our Corporate office as  shown below:

We have a state of the art Back Office functioning at our Bank’s building at our Department of Information Technology, Powai. 

(Tel: 022-25710157 / 158 / 159).

CMS - advantages

• Faster realization of instruments and better funds management
• Collection of funds at the source of origin
• Centralized control of receivables and disbursals
• Faster and easier transfer of funds to locations of choice.
• No requirement of multiple accounts at multiple locations.
• Nominal fee/commission.

• 13 specialized CMS Branches
• 120 CMS Processing centres
• Over 1500 locations for collection of up country cheques