Bulk Payment for Business
DC3 (Credit Next Day)
Service features
Bulk Payment Credit is an electronic interbank fund transfer that allows payers to pay multiple payments and recipients at once. The recipients will receive the transfer money on the date specified by the service used in the transaction: Same Day (DC2) or Next Day (DC3).
Bulk Payment Credit Next Day (DC3) is a funds transfer from one bank to another different banks (Cross-bank payment). The recipient will receive the transfer money the next working day from the transaction date, for example:
Payment of salaries, wages, and pensions to employee accounts
- Deposit of the company's dividends into the account of the shareholder
- Payment of the Revenue Department's tax return
- The payment of interest on instruments
DC2 (Credit Same Day)
Service features
Bulk Payment Credit is an electronic interbank fund transfer that allows payers to pay multiple payments and recipients at once. The recipients will receive the transfer money on the date specified by the service used in the transaction: Same Day (DC2) or Next Day (DC3).
Bulk Payment Credit Same Day (DC2) is a funds transfer from one bank to another different banks (Cross-bank payment). The recipient will receive the transfer money the same day. The transaction types are the same as using the Bulk Payment Credit Next Day service, as follows:
- Payment of salaries, wages, and pensions to employee accounts
- Deposit of the company's dividends into the account of the shareholder
- Payment of the Revenue Department's tax return
- The payment of interest on instruments
DD3 (Debit Next Day)
Service features
Bulk Payment Debit is a service that allows payers to pay multiple payments and recipients at once. The payer must have advised with the bank for authorize the payee to directly draw the funds. The debit person's account at other banks will be deducted on the date specified by the service used in the transaction: Same Day (DD2) or Next Day (DD3). The current service only offers Debit Next Day service (DD3).
Bulk Payment Debit Next Day (DD3)
The depository bank of the payment recipient will send an order to debit the customer's account at a different bank. The payment recipients will be paid on the next business day from the date of the debit request to support the following services:
- Payment of utility bills such as water bills, electricity bills, telephone bills, and life insurance premium payments
- Billing for credit cards, installments, and securities purchases
- Membership, maintenance, and other fees
Banking Institutions
Qualifications of the Applicant
1) Must be either a commercial bank licensed to conduct commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) or a bank established under specific legislation.
2) Must be a business provider of the designated payment services under the Payment Systems Act B.E. 2560. (2017).
Revocation of Membership
1) The bank's license to operate commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) has been revoked, or the bank has been disqualified as a bank established under specific legislation.
2) The business provider's license to operate a designated payment service under the Payment Systems Act B.E. 2560. (2017) has been revoked.
Bank Customers
Companies, retailers, and individuals who want to use the system's services must have a savings or current account held by a member bank of the Bulk Payment system.
Customers must enter into a service agreement with a commercial bank that provides the service in order to use it. The member bank must create structuring and formatting the data into Bulk template form and send it to National ITMX on the specified date and time of the transfer or within 30 calendar days before the payment date. National ITMX will settle the fund among banks on the payment date, and the recipient will receive the money on the same day.
of Service
Benefits
1. Businesses would be able to conveniently make payments and transfer funds from one bank to another different banks. (Cross-bank payment). 2. Reduce paperwork, such as document preparation, check writing, and cash counting.
3. Reduce labor and expenses
4. Simplify the auditing process because the system offers details on both the recipients and the payers for the inspection.
5. Payment transactions produce accurate results. Recipients will receive the transfer funds as soon as the debit is processed at the payer account.
6. The service is highly secure due to the use of safety control methods that meet international standards.
The importance of data security is extremely important to National ITMX Therefore, strict security measures have been established. The transfer instructions are sent from member banks to the company through a private network channel that is encrypted. That is transmitted between member banks and the company.
In addition, PKI (Public Key Infrastructure) technology is also used. The sender will have a personal private key to create a digital signature for the information sent. With such technology, the Bulk Payment system can prevent others from tampering with the information. Prevent eavesdropping and can certify the accuracy and completeness of the information transmitted through the system.
Security
