What is it?

Citibank SpeedCollect^® service provides a convenient, fast and reliable way to collect receivables from your customers and an efficient method of managing your accounts receivable portfolio.

How does it work?

	Your sales agents or customers make deposits or payments at any Citibank® branch or any branch of Citibank®'s Correspondent Bank, FirstCaribbean International Bank (Jamaica) Ltd.
	Special deposit slips are used that require the depositor to enter (a) the name or number of the customer or the sales agent's number and (b) reference number for the receivable (e.g., the invoice number).
	Alternatively, the invoice or reference number and your customer's name or number can be pre-printed by your office at the same time that your invoices are generated.
	This allows for posting and reconciliation of your Accounts Receivable system.

What are the benefits?

	Resource Optimisation: The time and resources that were allocated to the deposit of your collections can now be used in other, more productive activities.
	Convenience: Citibank SpeedCollect® reduces the amount of valuable time your personnel invest in the collection process. This system is also convenient for your customers, because you will be able to offer them alternative locations at which they can settle your receivables.
	Automation: Collection information can be downloaded from Citibank SpeedCollect® for your receivables system, to facilitate the reconciliation and posting processes. You will also be able to monitor the collections process via Citibanking® On Line Web.

What are the requirements?

	Corporate demand deposit account at Citibank® N.A., Jamaica.
	The necessary documentation needs to be completed.
	The following minimum hardware requirements need to be in place for electronic reporting: Pentium 100 MHz SVGA 256 Colour monitor, 800x600 pixels resolution Netscape Navigator 4.06 or Microsoft Explorer 4.0 or a later version with 128-bit encryption 33.600 bps Modem or higher Dedicated phone line not running through a PBX Windows 95 / 98 / NT Service Pack 3. Internet Access through an Internet Service Provider

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