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MultiCash

Mezinárodní multibankovní systém přímého bankovnictví

For whom the product is designed

  • Anyone who completes a high volume of outgoing payment orders
  • Anyone who needs to manage bank accounts for multiple independent legal entities using one application
  • Anyone who already uses the MultiCash service for managing accounts at a different bank
  • Anyone who uses collection accounts and does not have a current account at Česká spořitelna
 

Product description

MultiCash is an international multi-bank system that can be used to administer your accounts held at different banks, not only in the Czech Republic but abroad as well. This offers an expanded scope of use. MultiCash can be used by a small company for administering a single current account at a bank in the Czech Republic, but it can also be used by an extended company network of an international corporation for administering multiple accounts in various currencies maintained at different domestic and foreign banks.

MultiCash is a direct banking service offered by Česká spořitelna, which allows you to use a client application for administering current accounts in an uninterrupted manner. In practice, this means that the MultiCash system is separated into two parts:

  • The Client Component, which is installed within the framework of your IT environment (workstations or servers) by a bank employee or other supplier as applicable. You can use this application to prepare all transactions within your payment processing agenda. After all authorization procedures are successfully completed, the transactions are sent to the bank component of the MultiCash system for processing. The client component of the application also processes reports received from the bank, such as daily statements, remaining balance information, foreign exchange rates, and others.
  • The Bank Component, which receives payment instructions from your client component of the MultiCash system, verifies authorization rights (i.e., confirms that a batch of payment orders has been signed in accordance with your authorization requirements) and subsequently routes the transactions to the bank’s applications for processing. The bank component of the application prepares all information that you receive, e.g. daily statements, remaining balance information, foreign exchange rates, and others.

There are two possible technological options for ensuring communications between these two components of the MultiCash system. The communication between the client and bank components of the MultiCash system is served with Internet TCP/IP protocol.

Advantages

International multi-bank system - it is possible to use one client application to manage accounts from all banks that support the MultiCash application. This applies to the Czech Republic as well as to abroad.

Remote signature - this system allows you to sign a batch of payment files sent to the bank for processing from a remote location. This can be accomplished by using two possible methods:

  • using the MultiCash WebSign 24 service
  • using a different installation of the MultiCash application

Unlimited number of payment orders in one file of payments - the number of payment instructions sent to the bank is not limited in any manner.

Detailed administration of electronic signature and transaction limit categories - a broad range of options that meet your requirements for secure authorization.

Bidirectional interfaces with a variety of accounting systems - imports of payment order batches to the MultiCash application and the export of reports to an accounting system.

Fully compatible with SEPA and PRIEURO payments - the MultiCash system is fully compatible with these types of payments. The most current version of the application, i.e., MultiCash 3.2, must be used in order to take advantage of these new payment types.

MultiCash is an alternative for anyone who does not want to use the Internet direct banking solution offered by the BUSINESS 24 Internetbanking and SERVIS 24 Internetbanking applications.

Product Terms and Conditions

  • Current account held with Česká spořitelna, a.s.
  • In order to start using the services of the MultiCash application, you must meet the recommended technical criteria [new window] and conditions for operating the MultiCash system.
  • The services can be arranged either in person at a bank office or in a combined manner, without the necessity of visiting a bank office, on the basis of information submitted electronically.

Basic functions of the Product

Payments

  • Single or batch domestic payment orders
  • Single or batch express domestic payment orders
  • Single or batch payment collection orders
  • Transmission of file of payments for collection account processing
  • Single or batch payment orders in foreign currency
  • Single or batch foreign payment orders
  • Single or batch express foreign payment orders
  • Single or batch express foreign payment orders
  • Single or batch express PRIEURO payment orders
  • Single or batch express SEPA payment orders
  • Model payment orders (for frequently repeating payments)

Note: MultiCash works on the principle of sending payment files. In practice, this means you prepare individual payment orders within the framework of the application and, after they are authorized and prepared for transmission, they are sent to the bank in batches (payment files), i.e., as batch payment orders. It is only up to you as to whether a payment batch includes a single payment order or multiple payment orders. For this reason, the list above specifies both single as well as batch payment orders.

Reports

  • Daily account statements available in MT940 or ABO format or in any CSV format defined by you (delimited text file)
  • Preposted items (standard daily account activity) in MT942 format
  • Payment statuses – information on the completion (or non-completion) of payment transactions in the bank system
  • Current balance – information on the immediate status of the account
  • Debit and credit notifications for foreign payments
  • List of payment collection orders that are not completed
  • Česká spořitelna, a.s. foreign exchange rates (currency and cash-free – purchase/sale/midpoint)
  • Text information from Česká spořitelna – operational information
  • Compressed files (using ZIP format) – reports sent by the bank, e.g., cash pooling reports

Additional Functions

  • The application is available in Czech, English and German versions – a different language version can be assigned to each user on an individual basis
  • Detailed settings and administration of access rights to application functions
  • Detailed settings and administration of electronic signature rights for individual users
  • Batch and daily limits can be defined for payment files
  • Remote signature – remote signing and verification of payment orders sent to the bank
  • Bidirectional interfaces with accounting/payroll systems – import of payments to the MultiCash application and the export of reports into accounting/payroll systems
  • Automated report printing and data exports to a previously defined location
  • Database of business partners

MultiCash WebSign 24 (MC WebSign 24)

  • Supplemental service to the MultiCash client application, which allows only the verification and remote signing of payment files sent to the bank from the standard MultiCash application through the use of an Internet browser application.

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