MCB Cash and Business Services team

The payment landscape is evolving continually, making effective cash management key to ensuring that businesses maintain a firm grip on their financial pulse. Smart cash management strategies enable companies to succeed despite challenging macroeconomic headwinds.

The MCB Cash and Business Services team remains committed to providing the best cash management solutions to help your business thrive in today’s dynamic economic arena. Our sophisticated suite of digital products and services offers several benefits, including;


Reduced transaction costs and bank fees on digital channels


Enhanced customer experience through innovative technologies


Extended cut-off time for cross-border payments


Timely remittances both on inward and outward transfers


Instant cash flow reporting to facilitate informed decisionmaking

Our tools will help you optimise your cash position, reduce costs and enhance your liquidity. We believe their adoption is a strategic imperative that will have far-reaching implications for your organisation. Furthermore, our clients can leverage MCB’s position as a platinum member of SWIFT to benefit from the network’s extensive features and state-of-the-art solutions.

While looking forward to setting even higher standards, MCB reaffirms its pledge to provide its customers with the most innovative and customer-centric solutions to remain at the forefront of digital finance.

Cash Management Solutions



Pay

  • Domestic Payments with Instant capabilities
  • Cross Border Payments
  • Bulk Payment
  • Standing Orders
  • Cards (Corporate )
  • Internet Banking & SmartApprove
  • Host To Host Connectivity
  • SWIFT Connectivity


Collect

  • Direct Debit
  • Centralised Direct Debit
  • Bill Presentment
  • E-Commerce
  • Point of Sale Solutions
  • Cash Deposit Solutions


Monitor

  • Account Sweep
  • FX Services
  • Fixed Deposits
  • Securities Services


Optimise

  • Statements
  • Advices

Your success is our success.

Together, let’s go digital.

What our customer said about MCB Cash Management Solutions?

“We are a cross-border payments infrastructure company specialising in small-value instant payments. In the business of money movement, the most critical part of operations is to ensure that the money reaches its destination in due time. In that regard, MCB has been particularly helpful in effecting pre-payments to the 100+ destinations we service to ensure that the instant transactions through our APIs go swiftly and smoothly for our customers worldwide.”

Sanjeev Gupta, Head of Treasury, TerraPay (MCB Global and International Corporate (GIC) customer)

Make the most of our digital solutions crafted to streamline your payment process for optimal simplicity.

What’s in for you?

Banking 24/7, wherever you are, in just a few clicks while enjoying our suite of services at competitive rates.

Settle payments in just a few clicks, anytime and anywhere

  • Cross Border Payments
  • Domestic Payments with Instant capabilities
  • Batches – Bulk Payment file acceptance
  • Credit Card Transfers
  • Creation of Templates
  • Creation of secured payee groups
  • Setting up / amendment of standing orders

View all your accounts at a glance and more

  • View all transactions executed on Internet Banking Pro and their relevant status.
  • Retrieve daily, weekly or monthly electronic statements (PDF) or lists of transactions (CSV).
  • Graphical representation of account balances.
  • View loans, Trade Finance facilities and Fixed Deposit accounts.

Enhanced Offerings!

  • Self-Service capability - Self registration, unlock, reset of password.
  • Deal ticket integration for cross currency payments.
  • “Alert to new Beneficiaries” for international transfers.
  • Bulk authorization across companies.
  • GPI Tracker for International transfers.
  • Future dated transactions.
smartapprove

SmartApprove App - The new authentication tool for authorisation

  • Two-factor authentication
  • Transaction signing simplified
  • Instant in-app notifications for pending approvals
  • Summary of pending transactions per company
  • Dashboard with status of transactions

An integrated payment solution based on the Secured File Transfer Protocol (SFTP), with your partner bank to build transactional efficiency.

What’s in for you?

Enjoy digital banking at its finest by linking your Enterprise Resource Planning (ERP) system with our Host-to-Host Solution to benefit from the convenience of direct file transfer.


Key Features

  • Leverage on the team’s expertise for the automation of payment and collection flow
  • This solution enables an automatic reconciliation of statements with integrated accounting systems
  • Keep a complete control on your payment initiation and authorization policy
  • Capitalize on its low cost integration
  • The H2H connectivity is not limited to a specific ERP system


A dedicated MCB team will be at your disposal for a smooth onboarding process!

Leverage the SWIFT network’s efficient payment ecosystem for seamless inward and outward international transfers from/to various banks and countries and receive statement reports, in the proprietary format (MT) or in the global standardised ISO (MX) format.


Features of a SWIFT Connectivity

  • Straight-through payment transactions and reconciliation
  • Global visibility of transactions at different process stages

MCB SWIFT Service Bureau

MCB SWIFT service bureau, certified and audited by SWIFT and compliant with SWIFT cyber-security standards, offers SWIFT connectivity to corporates, banks and financial institutions cost-effectively.

What’s in for you?

  • Guaranteed service availability at 99.3% and competitive pricing
  • Dedicated assistance for efficient & fast registration
  • No need for expensive infrastructure, system installation/maintenance and specialized IT & security personnel
  • Guidance on compliance to SWIFT Customer Security Programme (CSP)
  • SWIFT tailored end-user training
  • Access to the SWIFT converter tool (MT to MX)
  • Relationship Management Application (RMA)
  • Hassle-free mobile security via two factor authentication soft token
  • MCB’s standard support includes both help desk & personalized assistance

Complementary Services of the SWIFT Services Bureau

  • Handling of highly complex tasks such as system upgrades and maintenance
  • Ordering of all relevant SWIFT services and products on behalf of the SWIFT user
  • Archiving of SWIFT messages for a maximum period of seven years
  • Anti-money laundering filtering solution
  • Duplicate detection solution

Key Features

  • Worldwide acceptance (Visa & MasterCard)
  • Several nominee cardholders on a single corporate account
  • A comprehensive annual multi-trip travel insurance for Corporate card – caters for flight cancellation, emergency medical expenses, baggage loss and assistance during epidemic and pandemic context.
  • Foreign Currency cards (EURO, USD, GBP and ZAR) are also available for Mastercard
  • Up to 30 days’ interest free credit
  • Monthly online card statements
  • Easy access to both your corporate main account and nominee cards through our Internet banking facility
  • A 24-hour Help Desk

We look for better ways to help you manage costs in fuel and maintenance while ensuring proper monitoring of drivers’ spending limits and patterns as well as enhancing your fleet’s performance.

Key Features

  • Register one vehicle per card to better manage your fleet’s running costs
  • Monitor your vehicles’ fuel consumption, maintenance and performance
  • No need for PIN or signature

We provide you with a smart and reliable way to free up your time to devote to more productive activities by setting up standing orders at a frequency and under conditions specified by yourself. Transfer a fixed amount of money, on a regular basis to a beneficiary holding an account at the MCB, another local bank or abroad with complete peace of mind.

What’s in for you?

  • Overseas standing orders available
  • Avoid late payment
  • Order, manage and monitor the status of your standing orders on Internet banking
  • No termination of standing order agreement in case of insufficient funds until three consecutive failures

Select from a diverse array of solutions that empower you to more effectively handle your receivables.

Card Acceptance: A fast, flexible and convenient payment acceptance through POS terminals for your domestic and cross-border needs, ensuring utmost security for the best customer and merchant experience.

QR Acceptance: As a Juice merchant, benefit from an enhanced technology for receivables in Mauritius only.

Card Acceptance

Key Features

  • Accept all major credit, prepaid and debit cards
  • Dedicated 24/7 customer support
  • View your merchant statements online
  • No upfront costs
  • Latest technology to minimize the risk of fraud
  • Wireless POS systems and till-integration available

Wide Card Acceptance: American Express, Mastercard, Maestro, Visa, Diners, Discover and China UnionPay

QR Acceptance

Key Features

  • Merchant SMS confirmation to acknowledge successful Juice payment received
  • Availability of a daily sales dashboard
  • Query for sales transactions in real time
  • Data export on Microsoft Excel

You can now even accept payment on your ecommerce website via MCB Juice

Innovative & Secure Features for Card Acceptance

Dynamic Currency Conversion: Holders of foreign cards can pay in their card currency while merchant is settled in MUR.

Multi Currency: Transactions can be settled in major foreign currencies on both the merchant and customer accounts.

Our e-commerce specialists work alongside you to understand your unique requirements, build a seamless web-based customer experience and help your business grow exponentially through our flexible solutions. A convenient payment option leading to a global exposure of your brand.

Key Features

  • A world-class payment gateway powered by Mastercard and used in +190 countries in the World
  • A payment link solution with various features such as split payment, recurring transactions and tokenisation
  • 3D Secure 2.0 friendly gateway to protect business and customers against unauthorized transactions
  • The platform is PCI compliant (Payment Card Industry Data Security Standard)
  • Major card brands accepted (Visa, MasterCard, American Express, Diners, UPI)
  • Support all major currencies and settlement is done in MUR, USD, GBP, EUR, JPY and ZAR
  • Seamless integration with some plugins for certain website builders
  • Access to a merchant back-end interface to view transactions in real time and perform refund or cancellation
  • A round-the-clock dedicated fraud monitoring team
  • No set-up fee
  • Merchant commission per transaction

Bill Presentment

A convenient & reliable solution to receive bill settlements.

At MCB, our bill presentment facility provides a secure, user-convenient way of receiving bill payments round-the-clock via the MCB Internet Banking platform and MCB Juice.

Key Features

  • Any corporate can register as biller
  • No pre-registration needed for payers (i.e. your customers paying you)
  • Any MCB client can pay third-party bills
  • Reporting lists can be easily extracted for reconciliation

Centralised Direct Debit (CDD)

A smart way to collect your receivables across all banks.

The Centralised Direct Debit is a four-party arrangement for collecting money involving the payer, the originator, and their respective banks. CDD allows you, as an Originator, to submit all claims (MCB & Other Local Banks) to MCB only. Your bank account will then be credited irrespective of where your debtor’s bank.

What’s in for you?

Capitalise on the bank’s experience and technical expertise for the collection of your funds across banks. The bank is currently assisting several clients from end to end in this digital transformation.

Key Features

  • One single point of connectivity
  • Collection of receivables within MCB network and other local banks
  • Standard format for all mandates and claim files across banks
  • Fully digitalised solution via the Host-to-host connectivity
  • Relevant reports (Success/Failure file) for automated reconciliation

Traditional Direct Debit

Direct Debit is a smooth, secure and convenient collection method that allows companies to automatically collect recurring payments.

  • No more delay in payments
  • Reduced admin time
  • Decreased payment failures
  • Improved cashflow

Money Processing

The Money Processing solution consists of the transportation and handling of funds by service providers.

Key Features

  • Traceability, audit trail and insurance cover
  • No waiting time when depositing large amount of cash
  • Your account is credited on the next working day
  • Reduced risk associated with movement of funds

Smart Safe

The Smart Safe is an integrated cash deposit solution for corporate customers. It enables our corporates to deposit their cash transactions in an automated safe at their point of sales and their accounts to be credited remotely.

Key Features

  • Automated count and electronic transmission of cash amounts to bank accounts
  • Greater security when handling cash
  • Significant time savings
  • Faster access to funds, near real-time account crediting

MCB will introduce you to its reliable partners and accompany you in this venture.

There are no charges claimed by MCB for this service, only your chosen service provider’s fees will apply.

Choose from a diverse set of solutions that have been designed to meet your liquidity management needs.

Account Sweep - Our service automatically creates withdrawals or deposit transactions between different accounts within the same entity at MCB, enabling you to keep a predefined balance on your main account.


Key Features

  • Deployment of cash in an optimal manner
  • Ensuring the availability of funds to meet all cash flow commitments for day-to-day operations

Helping you achieve your FX goals

  • Access to a broad palette of currencies, with a particular focus on G10s and Beyond G10 currencies including emerging markets, such as African and Asian currencies
  • Wide range of solutions from spot transactions to sophisticated tailor-made FX strategies including forwards, options and non deliverable forwards
  • Local and international market insights through our Daily Market Updates, MCB Wave newsletters and Podcasts
  • Standardized and tailored solutions across asset classes
  • Our structured solutions experts are on hand to create new, sophisticated, innovative and bespoke offerings

Money Markets & Fixed Income

  • MCB provides term or demand deposits in Rupee and major Foreign Currencies at attractive rates and is the leading market maker in Rupee-denominated Money Markets and Fixed Income products
  • We also trade in both sovereign and corporate bonds in hard currencies. Whilst G10 markets remain a cornerstone for most, MCB can also source securities in selected emerging markets

Fixed Deposit key features:

  • Attractive rates
  • Various tenors
  • Automatic rollover

Discover and stay up to date with our Daily Market Updates, MCB Wave Newsletters and Podcasts, among others.

With more than 30 years of industry expertise, MCB is the leading provider of custody services in Mauritius for financial institutions, asset and investment managers, corporates, insurance companies, collective investment schemes and family offices based locally and internationally. Our services encompass a complete suite of solutions, from clearing of transactions to asset servicing for a wide range of securities: bonds, equities, exchangetraded funds (ETFs), mutual funds, depository receipts, warrants, private equity and debt.

Core Custody Services

Your winning formula

State-of-the-art technology

  • Integration with SWIFT system for accurate and efficient processing
  • Full integration with the local CDS


Competitive pricing

  • Value added services at some of the most competitive rates on the market


E-banking platform: Online access to your portfolio

  • Online access to view positions, cash balances, transaction history, trade status, statements and query corporate action details

Monitor your transactions and accounts at your convenience with our user- friendly banking solutions.

We are environmentally conscious and lead the way through our e-statements in both standard and international formats, and advices, through our reporting services

SWIFT MT940 / MT942

The SWIFT MT940 electronic statement is delivered through the SWIFT network or is also available via the “Host to Host solution”.

Key Features

  • Easy identification of transactions for ease of reconciliation by your company internal system
  • Electronic daily, weekly or monthly statement with a detailed balance and transaction report
  • Provides information on opening and closing balances and all items posted to an account

Note that customers may also receive intraday account balance updates through the MT942 electronic SWIFT statements.

 

E-BANK STATEMENTS  IN THE STANDARD FORMAT & E-ADVICES

MCB E-statements provide you with instant sight of your MCB financial transactions, handy for taxes, record-keeping and more. View, print and download your MCB E-statements whenever you like from our Internet Banking platform. You can also enjoy the same service for your e-advices.

What’s in for you?

  • Download and Save your e-statements (in both PDF & CSV) and e-advices (PDF), which you can access and print if needed
  • Obtain e-statements for many accounts, including: current, credit cards and loans.

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