Making payments
Making payments is a critical activity for your business. Our Services provide comprehensive facilities to streamline your payment process and help you maximize your cash flow.
MCB provides you with a range of options from local payments to international payments.
Local payments
Along with cash, cheques are the most commonly used method for businesses to make purchases and settle bills.
International payments
Transfer funds abroad in a matter of minutes in a safe and convenient manner. We can provide you with express or normal international payments, all options designed to match the urgency of payments made to overseas beneficiaries.
Two types of payments are available:
- Bank draft
- Electronic transfer (SWIFT)
These transactions are effected in recognized currencies.
If you opt for a swift transfer, here is what MCB needs:
- Beneficiary's name and account number
- Beneficiary’s address
- IBAN ( if applicable)
- Beneficiary's Bank name and detailed address
- Beneficiary's 'Bank Identification Code' (BIC) and/or 'Sorting Code'
Automated payments: Payroll services
Pay your employees in a few clicks. At MCB, we offer you an advanced, internet-based payment solution for your payroll instructions. This service combines a high level of security and the assurance of maintaining the confidentiality of your payroll data with simplicity, rapidity and convenience.
Just set a date at your convenience regardless of whether your employees have a registered account at MCB or not. Choose between our Online or Offline options.
The online option allows for:
- Real time processing.
- Up to 99 transactions allowed.
- Verification of funds availability done online.
- Straight through processing.
- Transactions in MUR only.
The offline option allows for:
- Processing done on the payment date specified (your payroll instructions should reach the bank - not before 5 working days and not later than 1 working day prior to payment date).
- No limit for the number of transactions.
- Verification of funds availability done on payment date.
- Straight through processing.
- Transactions in both MUR and foreign currencies.