SAB leading edge Payments Management Service is designed to allow you to control routine payments from one integrated point of contact, maximising your cash flow and minimising your workload.
 

We will link your company’s internal system to our own technologically advanced banking platform to perform all types of payments. This means that you control payments from a single source whether they are one-off or bulk transactions. With automated reconciliation and only one source of information, right at your fingertips, it couldn’t possibly be easier.

SAB specialist Dividend Distribution system will help you optimise the way in which your company pays dividends to its shareholders. SAB system exists with the sole purpose of paying dividends, which we can distribute in the following ways:

• SARIE (Non-SAB account holders)
• Direct Credit (SAB account)
• SAB Branches

In order to support the needs of our customers with large volume of bill payments, we have provided SADAD bulk bill payment functionality. Through this Bulk Bill Payments functionality, customers can upload and download the SADAD bills for payment and enquiry using a comprehensive set of tools.
 

Key Features:

• One time capture of customer bill related details (Biller ID, Bill Number, etc.) in a user friendly file format
• Standing Instruction for automatic payment of bills with a predefined ceiling amount.
• Periodic bill enquiry for review and payment at a defined frequency (maximum twice a month)
• Customer communication through a secure email environment, “Voltage”
• Flexible maintenance options for the customer (e.g. Standing Instruction, Bill Enquiry, Auto Payments, Start
• Date, Ceiling Amount, End Date, Add/Delete and Recreate Bill, etc.)
• Auto Payment of bills if the amount is known
• Validation of Bulk Payment file before processing

In line with our commitment to providing you and your staff with the solutions that best meet your Payment and Cash Management needs, our Priority Payments Service is extremely convenient, totally secure and fully automated.
 

Priority Payments Service offers you the access to initiate Local RTGS transactions in local currency and Cross Border remittances in multiple currencies. The service can be accessed from anywhere and at any time through our eChannels and your staff can even use it to make payments from the comfort of their own homes.

Advising Services is a core component of SAB Payment Solutions. It enables advice delivery for domestic and international funds transfer to multiple recipients through email.
 

The advising services are supported through the HSBCnet delivery channels. Customers can directly upload/input the payment file on HSBCnet along with the advising details (Invoice no, Invoice amount, Advising information etc)
 

Benefits to customers:

• Streamlined processing : This straight through processing ensures delivery of advice in an efficient way. In addition, coupling of advice and payment initiation can help integrate the workflow on payments and advising on the customer value chain.
• Delivery tailored to customer / recipient needs: The advising generation can be tailored to suit the needs of the customer and or their recipients.
• Cost saving: There would be a considerable cost reduction by enabling single payment for multiple invoices thus reducing the payment fee.
• Cash/Treasury management: The feature of advising multiple recipients enables customer to establish cash flow monitoring process with their head office or regional treasury centre across global payments.

Payroll Service

Payroll is a solution designed to enable establishments (customers) to process salaries to accounts of the beneficiaries holding (i) bank accounts with SAB (ii) Salary Cards with SAB and (iii) bank accounts with other local banks. In addition to staff payroll, establishments can also process bonus payouts, claim settlements and non-staff related to bulk payments. This service is ideal for high volume, low-value domestic transactions helping customers save time through simplified process and reduce the cost. The service is easy to use, and in full compliance with the rules and regulations of Wage Protection System (WPS).

Wage Protection System (WPS)

The Wages Protection System is one of the programs of the Ministry of Labour (MOL) that aims to provide transparency and preserving the rights of the contractual parties. The purpose of WPS proposition is, to assess that employers pay their employees in accordance with contractual records held by MOL.

Mudad

Mudad was established in effective partnership with the General Organization for Social Insurance (GOSI), Takamol Holding Company with the support of the Ministry of Human Resources and Social Development and the Saudi Central Bank. The platform was established to prove payment of wages and to provide integrated digital platforms to facilitate administrative and financial procedures for establishments.

Payroll Benefits include:

• Offered by default as part of digital account opening (no additional documents or sign up required from the customer)
• Electronically executed payments via SAB iCorp (e-Channel)
• Efficient processing of salaries and other regular payments
• Bulk file upload for processing of multiple payment records
• Single debit for bulk payments reflected in customer account
• Eliminates the risks involved with cash payments
• Reduces operational and processing costs
• Saves administrative time
• Proof of payment of wages to the worker without the need for receipt statements
• E-Channel showing details of the WPS file processing status for each record
• WPS return file generation within 5 working days with digital signature ready for upload to Mudad Platform
• Option to submit WPS return file automatically to Mudad Platform
• Salary card for low wage employees