Cash and instruments collection

Legal entities may benefit from cash collection services from various locations, in highly secured conditions and maximum confidentiality terms, by signing a cash collection contract with OTP Bank Romania S.A. This service is useful for clients with high or frequent incoming volumes of cash or instruments.

RON and foreign currencies collections, cash and through banking transfer

OTP Bank Romania S.A. receives from its clients, individuals or legal entities debt instruments (CEC, promissory notes, bills of exchanges) and remits them for cash in.

Cash concentration

The “Cash concentration” service is addressed to corporate clients who receive incomings in different current accounts opened by them with different territorial units of OTP Bank Romania and want automatic centralization of incomings in a single main current account for the improvement of their liquidities management.

The current accounts used within the service can be opened either in RON or in other currencies (EUR, USD), and the transfers between current accounts can be executed with a certain frequency and for values of the credit accounts pre-established by a prior agreement concluded with the bank.

Intra-banking Direct Debit

By this service, you can automatically collect debts from your company’s clients.

In order to activate this service, you only need:

• to open a current account with OTP Bank Romania S.A.
• to sign an agreement based on which you will authorize the Bank to automatically make the transfer of the amounts which must be cashed, at your request, from the account of the paying client into your company’s account.

Advantages for your company

• easy way to collect debts
• filling in only one document, only once, in order to activate the service
• easy and efficient control of the amounts to be cashed because you decide the payment date
• saving time and costs – the Bank sends you the electronic files which can be imported in your financial-accounting system for an automatic reconciliation of the invoices issued for the amounts to be cashed in by this payment method

Advantages for your company’s clients

• easy way to pay debts;
• filling in only one document, only once, in order to activate the service
• no worry for making the payments
• saving time, as they do not have to come to your company’s offices or to bank units in order to make the payments
• payments safety
• zero commission

Collections Management

If you are a largely territorially extended company (a utilities company, a telecommunication company, an insurance company, a leasing company, etc.) and you have a large number of cashing from your clients, by means of this service you can benefit from:

• a central invoice collection account opened with an OTP Bank Romania S.A. bank unit on your request, which will be credited online with the amounts representing the cashing-ins (achieved based on the payments performed through Internet Banking and through Intrabanking Direct Debit). At the end of the current day, the cashed in amounts in the invoice collection account will be automatically transferred in your current account;
• an electronic file which will contain details regarding each cashing-in performed in the invoice collection account in the current day (a reconciliation file) and will be structured in order to allow the direct import in your accountancy system and therefore automatic reconciliation.

In order to benefit from these integrated cashing solutions you only need:

• to open a current account with OTP Bank Romania S.A. OTP Bank Romania S.A. will open on your name and for you an invoice account.
• to sign a dedicated contract.

Benefits for your company:

• The concentration of cash in a single invoice collection account and the automatic transfer of the amounts in the current account simplify the account management and tracking, as well as the management of available funds in these accounts;
• The automatic reconciliation of cashing by means of the issued invoices determines fewer errors, as well as the significant reduction of operating costs.