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Corporate Banking Services

In: Payment Systems

Author

Listed:
  • Dominique Rambure
  • Alec Nacamuli

Abstract

How do the banks respond to the corporate requirements outlined in the previous chapter? Fundamentally, the bank acts as clearing and settlement agent for all payments initiated by its customers: salaries, taxes and benefits, domestic and cross-border accounts payables, crediting of receivables, etc. If the beneficiary’s account is with the same bank, settlement will take place ‘on us’ between the two accounts; if not, the payment will be sent to the appropriate clearing and settlement infrastructures, the bank becoming the first link in the settlement chain ending with the central bank.

Suggested Citation

  • Dominique Rambure & Alec Nacamuli, 2008. "Corporate Banking Services," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Payment Systems, chapter 13, pages 172-176, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-22721-7_13
    DOI: 10.1057/9780230227217_13
    as

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