SME > Services > Cash Management
Cash Management Services
 
download-(1).jpg

Cash Management
 
        Cash Management is a collection of services for juristic persons to facilitate them in fund transfers, payments and performing transactions between the clients and individual customers or salesperson. Cash Management helps you reduce operation time, thereby saving costs and putting more focus on business management. Cash Management comprises of four categories of services as follows:

หัวข้อบริการ-Cash-Management_EN-(3).JPG
 
1. Collection Services
 
    1.1 Bill Payment
           Give you the opportunity to provide your customers convenient payments for products and services through our LH Bank’s network together with necessary data from those payers so that you can run the business efficiently.

         Details
           This bill payment helps expand a number of bill payment channels for your products and services to cover every area via LH Bank’s channels, including branches, ATM, internet banking and mobile banking application. Thus, this service is suitable for businesses having partners across the country so that your partners or money collectors can easily deposit in a mean of a cash or cheque to your bank account with necessary details for reconciliation, delivering goods or deducing the outstanding balance of a particular customer immediately.

         Advantage
  • Daily payment reports for transactions made through LH Bank’s channels which can be easily used for reconciliation.
  • Reducing administrative works/document storage
  • Payment of goods and services can be through a variety of LH Bank’s channels as follows:
    • Branches
    • ATMs
    • LH Bank Speedy (Internet Banking)
    • LH Bank M Choice (Mobile Banking Application)

         Required Documents
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days
  • A copy of ID card of an authorized signatory
  • Company's meeting minutes or a letter of intent that include a resolution of requesting to apply for a service (objectives and details of service request)
 
         Terms of Use
  • A company must have a LH Bank’s savings account or current account to receive the funds.

    1.2 Direct Debit

           Provides your customers payment convenience and faster way for you to receive the payment on time.

         Details
           Direct Debit service will automatically debits from individuals having a savings account and/or current account and credits to a company applying for the service according to an instruction given by the company, such as debit for a utility payment. To use the service, the company creates an instruction file and submits to LH Bank within a specific time through LH Bank Speedy or uploads the file via LH Bank Speedy on every working days at a specific time. Then the bank will process transactions as specified in the instruction file and submit the report through LH Bank Speedy immediately.

         Advantage
  • A payment comes with a payer name, amount and reference as specified by the company.
  • Possible to submit instructions to the bank within a specific time for deducting funds from your customers’ bank account.
  • Reducing document storage.

         Required Documents
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days
  • A copy of ID card of an authorized signatory
  • Company's meeting minutes or a letter of intent that include a resolution of requesting to apply for a service (objectives and details of service request)
 
         Terms of Use
  • A company must have a LH Bank’s savings account or current account to receive the funds.
 
2. Payment Services
 
    2.1 Payroll
           Facilities you a convenient and flexible way to automatically transfer a monthly salary to your employees at the same time as specified.

         Details
           This service is for paying a wage or monthly salary through bank’s networks. To use the service, the company will have a payment contract with LH Bank and the employees have savings account or current account at LH Bank.

         Advantage
  • Transfer a monthly salary conveniently, fast and on time.
  • Channels supporting data transfer are as follows:
    • E-mail at a branch
    • LH Bank Speedy (Internet Banking)

         Required Documents
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days
  • A copy of ID card of an authorized signatory
  • Company's meeting minutes or a letter of intent that include a resolution of requesting to apply for a service (objectives and details of service request)
 
         Terms of Use
  • A company must have a LH Bank’s savings account or current account.
 
    2.2 e-Withholding Tax Service

           This service is suitable for companies that want the bank to deduct and remit withholding tax to the Revenue Department.

 
         Details
           e-Withholding Tax Service is a service for a payer who has the duty to deduct a withholding tax by sending a payment instruction together with withholding tax information to Bank via Internet Banking System (LH Bank Speedy). After receiving the instruction, Bank transfers funds to the beneficiary and remits the withholding tax to the Revenue Department. In addition, the system notifies the beneficiary the transfer and withholding tax and allows the payer to verify transactions from the report in the system.

         Advantage
  • Reduce cost for generating and delivery WHT document (50 Bis) (for a buyer's company)

  • Reduce the burden of tracking the WHT document (50 Bis) (for a seller's company)

  • Reduce the process of preparing documents for submitting withholding tax to the Revenue Department. 

  • Minimize document storage. 

  • Buyer can check payment and WHT Status from the Revenue Department Website and download it as file for further use. 

  • Receive Tax Privilege (Tax Reduction from 3% and 5% to 2%)

  • Developing System and /or using e-WHT Service can reduce tax for 2 Times. 

           *Tax privileges are subject to announcements set by the Revenue Department.
 

    2.3 Direct Credit  

           Helps you make payments to partners and beneficiaries having a bank account fast and conveniently.

         Details

           The bank will automatically debit from the company’s account and then credit to individuals having a LH Bank’s savings account or current account as given instructions from the company; for instance, selling mutual fund shares/stocks. To use the service, the company creates an instruction file and submits to LH Bank within a specific time through LH Bank Speedy or uploads the file via LH Bank Speedy on every working days at a specific time. Then the bank will process transactions as specified in the instruction file and submit the report through LH Bank Speedy immediately.
 

         Advantage
  • Better control a corporate financial system thanks to a variety of financial data, such as beneficiary data, payment status and remaining account balance.

  • Reducing a company’s costs and document works.

     

         Required Documents
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days

  • A copy of ID card of an authorized signatory

  • Company's meeting minutes or a letter of intent that include a resolution of requesting to apply for a service (objectives and details of service request)
     

         Terms of Use

        -  A company must have a LH Bank’s savings account or current account.

       2.4 Bulk Payment
               Helps you conveniently and rapidly make a payment to your partners or beneficiaries having a bank account at the other bank  through a funds transfer.

            Details
               This is an individual funds transfer service to customers across banks which supports more than 1 transaction at a time and the amount of transfer is up to 2 million baht/transaction. Bulk Payment has two natures as follows:
  • Bulk Payment Credit Next Day (NURG) is a future funds transfer in which a beneficiary will receive the fund on the next two business.
  • Bulk Payment Credit Same Day (SDVA) is a future funds transfer in which a beneficiary will receive the fund on the next business day or the same day if a transfer instruction is executed before 9:00.

              Advantage
  • Better control a corporate financial system thanks to a variety of financial data, such as beneficiary data, payment status and remaining account balance.
  • Reducing a company’s costs and document works.

              Required Documents
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days
  • A copy of ID card of an authorized signatory
  • Company's meeting minutes or a letter of intent that include a resolution of requesting to apply for a service (objectives and details of service request)
 
            Terms of Use
  • A company must have a LH Bank’s savings account or current account.
 
    2.5 BAHTNET Tranfer

           This is a funds transfer between financial institutions and for a third party to deliver a financial message and funds transfer instruction between financial institutions. BAHTNET connects directly between the Bank of Thailand and financial institutions and supports Real-Time Gross Settlement (RTGS). BAHTNET is only available during 8:30 – 15:00 from Monday to Friday.
 

         Details

           BAHTNET services are as follows:

  • Transfer between financial institutions is a funds transfer in which a financial institution performs a funds transfer from its own deposit account to another financial institution’s deposit account, or performs a funds transfer between its own accounts at the Bank of Thailand.
  • Transfer to a third party is a funds transfer in which a customer orders a financial institution to make an immediate funds transfer to a beneficiary which is a customer of another financial institution.
  • Transfer to different parties is multiple funds transfers in which the Bank of Thailand uses to make a settlement of BAHTNET members  at the same time.
  • Securities payment is for organizations, companies or individuals who would like to buy or sell securities with the number of more than 1 million units or the value of more than 3 million baht through the stock exchange and prefer to make a payment through BAHTNET by making the payment through Thailand Securities Depository Co., Ltd.’s service which connect to BAHTNET.

         Advantage
  • Efficient, quick and secure transfers between financial institutions.
  • Convenient, quick and secure transfers of funds, debt securities and others.
  • The gross settlement is real time.
  • The transfer cannot be reversed.
  • Individuals can transfer/make a payment to another quicker and more convenient.
  • Reducing risks in a payment system.

         Required Documents
  • A buying application form / transfer application form
  • A copy of ID card of an account owner or an authorized signatory
  • A copy of ID card of a proxy (in case of giving a power of attorney)
         
         Terms of Use
  • In case of cash, a customer does not need to have LH Bank’s bank account.In case of deducting from a bank account or cheque, a customer must have a LH Bank’s savings account or current account.
 
 
3. Other Special Services
 
    3.1 Sweep Zero Balance

           Facilitate you in money management.

         Details
           This is an automatic system which performs funds transfers between the main account and more than one sub accounts. Those accounts can be under the same juristic person or in associated companies. The system will manage the sub accounts to have a zero or least negative balance at the end of day so that the company will maximize the benefit of deposit interest or minimize an overdraft interest payment on that day.

         Advantage
  • The company will maximize the benefit from a savings account or minimize the interest from an overdraft on a particular day.

         Required Documents
  • An application form
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days
  • A copy of ID card of an authorized signatory (Company's meeting minutes are not required)

         Terms of Use
  •  A company must have a LH Bank’s savings account or current account to receive the funds.
    3.2 Cash Pick up Service
 

           Details

           It provides convenience for deposit or withdraw cash from a large amount regularly. Bank will then deposit cash into the account or cash withdrawal orders to the company or its Branch or location on the date of the agreement.

         Advantage
  • Reduce the risk of keeping cash at the company's Branches and reduce the cost of travelling to Bank Branch to deposit or withdraw.
  • Increase efficiency in cash management and liquidity, as the money will be deposited into the account or withdrawn on a fixed schedule.
  • Convinience to check and reconcile by using data from the Bank.
**The fee rate is in accordance with the conditions set by the bank**     
 
    3.3 Agricultural Loan for Sugarcane Farmers          
         Details
           The debt repayment loan service supports sugarcane farmers before plantation with the promise that when the sugarcane matures, the farmers will sell the sugarcane to the factories.

         Advantage
  • Help sugarcane farmers to have cash flow in preparing the planting area, maintain sugarcane and buy products to grow sugarcanes.
        
 
4. Electronic Channel
 
    4.1 LH Bank Speedy (Internet Banking)

           Helps you run a business confidently and flexibly by performing transactions through LH Bank Speedy conveniently and quickly.

         Details
         Types of Services

         1. Account Service
  • Check an account balance

  • View account activities and online activities

  • View a status of cheque and purchase a cheque book

         2. Funds Transfer
  • Transfer to owned accounts

  • Transfer to 3rd party LH Bank accounts

  • Transfer to 3rd party other bank accounts

         3. Bill Payment
  • Make a payment for goods and services

  • Frequent payees

  • Add/edit frequent payees

         4. Bulk Payment
  • Upload Direct Debit instruction files and check a status of uploaded files

  • Upload Direct Credit instruction files and check a status of uploaded files

  • Upload Payroll instruction files and check a status of uploaded files

  • Upload General Bulk Payment instruction files

         5. Lending Repayment
  • Immediate make a repayment to LH Bank loans and schedule a future repayment

  • Frequent loan repayments

  • Add/edit a list of frequent loan repayments

         6. Setting Future Transactions
  • View a history of future transactions

  • View future transaction details
     

         Advantage
  • Increase the efficiency of financial management

  • Support a variety of transactions

  • Support transaction responsibility assignments

  • Your data is secured according to global security standards
     

         Required Documents
  • A certified copy of certificate of juristic person issued by the Ministry of Commerce within the last 30 days

  • A copy of ID card of an authorized signatory

  • Company's meeting minutes or a letter of intent that include a resolution of requesting to apply for a service (objectives and details of service request)

         Terms of Use
  • A company must have a LH Bank’s savings account or current account.

 
FAQ
 

Q : What is Payroll Service ?
A : This service is for paying a wage or monthly salary through bank’s networks. To use the service, the company will have a payment contract with LH Bank and the employees have savings account or current account at LH Bank.


Q : What channels are available for the customer to send payroll data ?
A : Payroll data can be sent through:
1. LH Bank Speedy (Internet Banking)
2. E-mail through branch


Q : After the company applies for Bill Payment service, how long does it take the Bank to start accepting payments from the customers of the company ?
A : About 1 month after the application is submitted.

 

Q : What benefits will the customer receive from Direct Debit service ?
A : This Service can help the customer as follow:
1. Save time and operational expenses spent on collecting.
2. Solve problems of late or overdue payments by having funds directly debited from the accounts of your customers or business counterparts.
3. Reconcile your accounts easily with direct debit summary reports.


Q : What kind of company is Direct Credit service suitable for ?
A : Companies that want to make payments to their partners or beneficiaries having savings account or current accounts with LH Bank by sending debit commands to transfer funds into multiple recipients' accounts


Q : What is Bulk Payment ?
A : An individual funds transfer service to customers across banks which supports more than 1 transaction at a time and the amount of transfer is up to 2 million baht/transaction, with the recipient receiving the money the next day.


Q : What channels are available for the company/customer to send Bulk Payment data ?
A : The data can be sent through LH Bank Speedy (Internet Banking).


Q : What benefits will the customer receive from Bulk Payment System ?
A : This Service can help the customer as follow:
1. Better control a corporate financial system thanks to a variety of financial data, such as beneficiary data, payment status and remaining account balance
2. Reducing a company’s costs and document works.


Q : What is BAHTNET service, whereby the bank can transfer money into bank accounts elsewhere via BAHTNET ?
A : The service transfers money, including large sums of money, to a recipient who has an account at another bank via the Bank of Thailand Automated High-Value Transfer Network, with receipt on the same day.


Q : For whom is BAHTNET service suitable ?
A : The service is suitable for companies that wish to make large transfers to recipients who have accounts at other banks that are members of the Bank of Thailand.


Q : What is the maximum amount of each transfer for BAHTNET service ?
A : There is no maximum transfer amount.


Q : What is LH Bank Speedy service ?
A : LH Bank Speedy service is internet banking service for corporate customers. Provide service for 24 hours. You can inquire about the balance in the account. Bank statements for the past 6 months, money transfer service paying for goods and services, including loan payments from LH Bank, which is a convenient channel without having to waste time contacting or traveling to the bank. which can be accessed at 
www.lhbankspeedy.com Anytime, Anywhere


Q : If customers have questions or problems using LH Bank Speedy, how can they contact ?
A : Please contact LH Bank Call Center at 1327 24/7.

 
Related articles