The world's local bank
Overview
Direct Credit provides a convenient and cost-effective solution for processing multiple payments electronically – removing the need to prepare cheques for manual processing.
This easy-to-implement solution allows you to send electronic payments to accounts held at Bank of Bermuda and other local banks, making it easier to disburse funds to your suppliers, shareholders, employees, or other business partners and organisations.
So get started today, find out how you can eliminate your manual cheque processes and allow your stakeholders to receive their payments more quickly and securely – directly into their bank accounts.
Need more information?
- Download the fact sheet for Direct Credit (pdf, 30kb)
- Further details on our HSBCnet service
- Further details on our Business Internet Banking service
Small Businesses
- Call us on 299-5555
Larger Businesses
- Call us on 299-5333
Key features and benefits
A Direct Credit solution from Bank of Bermuda allows your business to:
- Manage your cash flow more efficiently and improve cash forecasting.
- Reduce operating expenses associated with writing cheques, manual processing, and time spent reconciling accounts.
- Accelerate your payables process and control the timing of debits to your account.
- Reduce lost and stolen cheques.
- Remove risk associated with cheque fraud and forgery.
Additional features and benefits
- Flexibility to submit instructions and receive data transaction reports online.
- Ability to store future-dated payments and set up and make recurring payments.
- Ability to debit your account on the payment's value date.
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