IBOS Collection Services

The IBOS service is based on the wide in-country services of its member banks, and this is particularly valuable to support customers' collections.

IBOS customers selling into a country either from abroad or from a subsidiary or branch cannot always dictate how their own customers will pay them. Their customers will want to pay by a cheap and customary method, and preferably to a bank account within their own country. That is what will fit most easily into their own systems and processes.

If an IBOS customer is selling directly to the general public, they will be collecting cash, cheques (where such exist) and card transactions: IBOS banks have the capacity to deal with all of these.

If an IBOS customer is selling to other corporates or to government entities, they will be receiving credit transfers, usually to a local standard and through an Automated Clearing House: IBOS banks participate directly in those clearing houses, unlike a foreign bank.

For certain types of supply, an IBOS customer may be able to collect via Direct Debit, again to a local standard and through an Automated Clearing House in which IBOS banks participate directly.

Accounts at IBOS banks can also be reached through local high-value clearings, which corporate customers customarily only use for their treasury transactions.

Cross-border receipts can also be taken into accounts at IBOS banks:

• commercial payments emanating from invoices
• intercompany payments
• treasury payments

In a typical IBOS solution both intercompany payments and treasury payments will be received from other IBOS banks, and are then automatically applied with same-day value and at advanatgeous pricing terms.