Bulk Payment / Bulk Payroll

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.

  • ‚ÄčPayroll Service

   Transmit salaries, wages, overtime claims, bonuses, commissions and other allowances.

  • Payment to Vendor / Supplier

    Enables Payee / Beneficiary payment.
 

Benefits:

  • Promptness

    Bulk payment / Bulk payroll provides an efficient means of making online payment. Business processes are executed in a timely manner.

  • Bulk Payment

    The system imposes no bounds or limitations on the number of transactions.

  • Easy

    Uploading data files is extremely easy and flexible.

  • Confidentiality

    Data files are safely protected with sophisticated servers and high-degree encryptions.

  • Proven

   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.