RTGS (REAL TIME GROSS SETTLEMENT)
For urgent business payments of larger value, forget cash. Make real-time electronic payment in a most secured manner using RTGS. RTGS is a specialist funds transfer system where transfer of money or securities takes place from one bank to another on a “real time” and on “gross” basis. Settlement in “real time” means payment transaction is not subjected to any waiting period.
EFT (ELECTRONIC FUNDS TRANSFER)
Your business payments can also be made through Electronic Funds Transfer. It is safer compared to paying through a cheque. The benefits accruing from the use of a fast, secure and timely funds transfer system include:
• Efficient and highly dependable method that improves service delivery to recipients by providing timely payments
• Increases security by eliminating lost, forged or stolen cheques
• Eliminates the costs of printing and handling physical cheques
• Improves cash forecasting owing to the elimination of cheque float
• Streamlines operations by reducing paper work and reconciliation.
This is a highly secure electronic service suitable for the transfer of funds from your account to a beneficiary’s account locally or abroad. This service is recommended for High value payments which locally will be achieved in real time hence removing risks associated with paper based cheques.
Real time service ensures that Beneficiaries are irrevocably paid enabling underlying high value business contracts to be confirmed with ease. The service is also the most secure means of transmitting money with speed and accuracy to other destinations outside Kenya.
Pay for imports and receive payments for exports through TransNational Bank correspondent networks. Your international remittances are handled through efficient and reliable banking channels. Transnational Bank remittances pass through Anti Money Laundering vigil checks.