|Currently, WorldLink Payment Services is delivered right to your desktop through CitiDirect Online Banking. In addition, you can now benefit from the addition of on-site cheques capabilities.|
From decreased risk of fraud and improved clearing in multiple currencies, through to expanded print functionality and reporting capabilities – the already comprehensive WorldLink on-site cheques solution is now even more powerful.
Reduced Chance of Fraud
With CitiDirect Online Banking, Citibank receives your issuance instructions as you enter them online and uses the information to match cheques presented for payment. Any cheque presented for payment whose details do not match its corresponding issuance information, will not be paid. This matchpay process is more secure and less susceptible to fraud ensuring the security of all your foreign currency payments.
Improved Cheque Clearing
Currency specific cheque formatting is housed within the CitiDirect platform and includes individual crossing country requirements, clearing account details and cheque serial numbers, as well as a country specific encoded data line at the bottom of the cheque (MICR, OCRA, OCRB or CMC7).
Expanded Reporting and Tracking
The access to real-time information offered through CitiDirect Online Banking enables you to run detailed reports and track payments.
Intuitive Print Controls
With CitiDirect, you will have quick access to print and void capabilities. You can also print at initiation and reprint/void cheques. On-site cheques are treated like other WorldLink payment methods in regard to input, authorization, FX funding and release.
Printer Requirements to Gain Access to Improved Clearing
A MICR capable printer is required to accommodate the cheque designer software and the localization it generates.
Cheque Stock: The inventory management process for WorldLink on-site cheques will remain unchanged. Due to country specific formatting, four different blank cheque stocks will be provided.
Available Currencies: On-site cheques are available in 16 currencies.
To learn more about WorldLink services, including on-site cheques, click the link at right.