Bulk Payment / Bulk Payroll
What is Bulk Payment / Bulk Payroll?
Bulk Payment / Bulk Payroll is an integrated cash management solution specifically designed to provide a timely and secured infrastructure to bulk transmit your payments.
Transmit salaries, wages, overtime claims, bonuses, commissions and other allowances.
- Payment to Vendor / Supplier
Enables Payee / Beneficiary payment.
Benefits:
Bulk payment / Bulk payroll provides an efficient means of making online payment. Business processes are executed in a timely manner.
The system imposes no bounds or limitations on the number of transactions.
Uploading data files is extremely easy and flexible.
Data files are safely protected with sophisticated servers and high-degree encryptions.
The smooth and efficient operation payments system is proven to be a critical factor for business growth. It is important to have a safe and efficient payments system to maintain financial stability.
Greater use of Bulk Payment / Bulk Payroll methods can create cost savings to the business
There are broad choices in payment methods in the country, the common ones being cash and cheque.
Handling cash and cheque incurs costs such as transportation, security, insurance, fraud, robberies apart from staff and administration costs.
Our online Bulk Payment / Bulk Payroll services is more cost effective as the service is accessible at a minimal fee and is available for fund transfer to PBB accounts and to other banks in Malaysia.
The processing windows for Bulk Payment / Bulk Payroll are as follows:
| Processing Day |
Processing Window
(Cut-Off Time)
|
Estimated Time Funds
Received By Beneficiary
via Intrabank |
Estimated Time Funds
Received By Beneficiary via
IBG
(Up to max RM1 mil per trx.)
|
Estimated Time Funds
Received By Beneficiary Via
RENTAS
(Subject to min RM10K and
max RM10 mil per trx.)
|
Stop Payment Instruction
Cut-Off Time |
Business Days
(Mon to Fri)
|
Window 1 (5:00am)
|
By 6:00am same day
|
By 11:00am same day
|
By 11:30am same day
|
Must be approved at least 30
minutes before the processing
cut-off time
|
|
Window 2 (8:00am)
|
By 9:00am same day
|
By 2:00pm same day
|
By 11:30am same day
|
|
Window 3 (11:00am)
|
By 12:00pm same day
|
By 5:00pm same day
|
By 1:30pm same day
|
|
Window 4 (2:00pm)
|
By 3:00pm same day
|
By 8:20pm same day
|
By 4:30pm same day
|
|
Window 5 (5:00pm)
|
By 6:00pm same day
|
By 11:00pm same day
|
By 11:30am on next
business day
|
Must be approved at least 30
minutes before the processing
cut-off time.
|
|
Non-Business Days
(Sat, Sun & Federal Territory Public Holidays)
|
Window 1
|
By 6:00am same day
|
By 11:00am on the next
business day
|
By 11:30am on next
business day
|
Must be approved at least 30
minutes before the processing
cut-off time.
|
|
Window 2
|
By 9:00am same day
|
|
Window 3
|
By 12:00pm same day
|
|
Window 4
|
By 3:00pm same day
|
|
Window 5
|
By 6:00pm same day
|
Note:
- The actual time funds received by beneficiaries via IBG and Rentas are subject to each respective beneficiary bank’s internal processing time. The Bank shall not be responsible for any late crediting into beneficiary’s accounts by beneficiary banks via IBG and Rentas.
- Payor Corporation undertakes to ensure sufficient funds are maintained in the Funding Account to meet each payment instruction, failing which the Bank shall be entitled to refuse to perform any payment instruction from Payor Corporation to the Bank pursuant to the Bulk Payment/Bulk Payroll Service at any time without any obligation on the Bank to give Payor Corporation any notice of such refusal.