Our Bank - a pioneer in offering best Cash Management Services has an exclusive setup named CAPS with state of the art infrastructure to handle entire collection and payment requirement of Corporates/Institutions. CAPS products and services are well accepted in the market and at par with any competitor Banks in terms of service level and efficiency. CAPS enhance the availability of funds. The tangible advantages are:- Enhanced liquidity, Cost reduction, Profit maximization, Effective control, Competitive edge and Efficient financial management & Smooth reconciliation, Customised MIS with Host to Host & Web Services capabilities.

The customers/Dealers deposits cash / cheque at any of our branches and these collections are credited to our clients account along with relevant MIS. The striking features are :

• Enables corporates to collect fund from their clients/ dealers.
• Collection includes cash deposition and local cheque collection.
• Services are available at all Union Bank of India branches.
• Assured credit as per agreed TAT.
• Customised MIS is shared via mail / SFTP / API.

The Product combines the features of RTGS /NEFT. The dealers can send money for the credit of Corporates from other bank branches or from their accounts using Net Banking, Mobile Banking, IMPS etc.. Under this, the collections are pooled at CMS Hub and a single credit is given to the client as per the agreed process flow. The highlights are :

• Single Credit with MIS to corporates to collect fund from their clients/ dealers through either NEFT, RTGS & IMPS.
• Inter Bank online solution for high value payments based on virtual account method.
• This product secures the privacy of the beneficiary as collections are done through Virtual Account Number is shared with Sender.
• Detailed MIS will be sent to email of the Corporate on the next day with individual RTGS / NEFT details based on the credits made.
• Hassle free reconciliation can be done by uploading the MIS to the accounting software of the Corporate.
• Nominal pricing to Corporate on per transaction basis.

Under this, customers of Bank's client, who maintain their accounts with our Bank only can give Mandate to the Corporate for debiting their accounts with specified amount for specified period.

• Corporates can have repetitive receipts based on mandates issued by their customers having account with us.
• Hassle free process of Mandate Registration based on:
  • Submission of Physical Mandates and Data.
  • Submission of Mandate Images and Data.
  • Submission of Data and one-time custodian agreement and indemnity .
• Hassle free collection of funds based on data provided by the corporates for successfully registered data.
  
  

Uni eNACH
A solution for repeated payments implemented through NPCI initiated NACH. A robust platform to handle large volume of repetitive payments in hassle free manner. Customer can give Mandate to the Corporate for debiting their accounts with specified amount for specified period. On Due date Corporate can send us the file of customers to be debited. Credit will be given on Debit of A/cs. The highlights are :

• Corporate can get the customer’s register the e-Mandates for collection from another bank.
• The mandates are pre-approved by customer based on Internet Banking, Debit Card or E-Sign.
• The Corporate provides the transaction file to Union Bank of India on due date for successful registrations.
• Union Bank shall pool the total amount of successful debits to corporate’s a/c along with transaction level MIS.
• Union Bank provides the real time updates and periodic MIS through SFTP/API/Mail.
• The Customizations as per Client’s requirement are possible Real time updates provide Auto Recon facility.

Uni Sweep
Sweep means transfer of balance among accounts of the same company. This facility is very useful to the companies having large number of account across many branches of Union Bank across the country.

• Corporates use multiple collection accounts at multiple centers and base (pooling) account at one center.
• Corporates can enjoy hassle-free transfer of their funds to their pre-defined base account.
• Balances in secondary accounts will be transferred (Swept) to the primary account at pre-determined periods.
• These transfers are affected without any manual intervention.

Uni Fee collection
Educational Institutions like Universities, Colleges, Schools etc can avail the service which can be a combination of any of the above Collection products as required. Students/Parents can pay School fees, Hostel fees, Mess fees, Bus fees through UFCS (any time, any mode, any where).

• Single credit to Institutional account at any Bank backed by robust MIS on fee collected by each student.
• Specially designed for multi channel collection.
• One point query resolution.
• Easy reconciliation by Institution of fee paid by the students.
• Ensure hassle free collection of receivables for the Institutions.

Payment Products
Uni Credit
Bulk payments of Corporates are routed through RTGS/NEFT, with instant credit to beneficiary’s account at any of our Branch as well as any other Bank. Funding can be made by Corporates through single instruction/RTGS/NEFT/Cheque. Reverse file for successful/failed Transactions will be provided for reconciliation. The highlights are :

• One of the most popular Payment products amongst Corporates for bulk payments.
• The payment modes include Direct transfers, NEFT, RTGS.
• Corporates provide the Data in pre-agreed format & funding to the Bank.
• Payments are executed by Bank.

Uni NACH
To go with the digitization of services, the corproates are looking at the payments through Digital Channels like NEFT / RTGS/ NACH / Direct transfers. These payments can be for employee’s salary, vendor payment etc.

• Corporates are also going for bulk payment to their employees/vendors/suppliers through NACH.
• Corporates shall submit the transaction file to Union Bank of India in pre-agreed format.
• Corporate shall make the funds available to the Bank.
• Union Bank shall upload the transaction files to NPCI
• NPCI provides the MIS of transactions as per the session timings. This facility is designed for Big Corporate customers who are issuing bulk cheques for making their Dividend /other payments.

Automated Invoice Finance
Devised to extend finance to vendors & dealers of Identified Reputed Manufacturers (IRM) on a fully electronic platform and the process is fully automated. Bank takes care of working capital requirement of the dealers & vendors to the extent of supply from/to from the IRM.

• Automated Invoice Financing includes:
  • Dealer finance
  • Vendor finance
• It ensures liquidity and working capital finance to the OEMs/dealers/vendors.
• The facility provides an opportunity to OEMs/dealers/vendors have access to easy, hassle-free finance.
• These services are offered at competitive rates.
• Union Bank has robust set up with fully automated process with proper MIS.
• MIS can be customised as per Corporate’s requirements.