Cash Management and Payments

Account Services

Current Accounts

Our corporate current account is a low-cost operating account to satisfy all your banking needs.

  • Unlimited number of free transactions per month

  • A minimum average balance is required

Call Accounts

An interest earning account offering customers an attractive return on their funds.

  • Funds deposited attract interest on a daily basis at published rates. Prevailing interest rates are available on request

  • No fixed deposit period

  • Anytime withdrawal of funds subject to one-day notice

  • If the balance falls below the minimum requirement, no interest will be accrued during that period

Overdraft Account

An overdraft account is offered to Corporate Banking clients who require temporary borrowing for their working capital requirements. Since, this is a credit facility offered to corporate clients, appropriate internal credit approvals need to be obtained prior to offering the facility.

  • Quick and easy to set up

  • Pay interest only on the amount you borrow

Fixed Deposit

Funds deposited for a fixed time period at a fixed rate of return at maturity.
 

Find out more

 


Email - uaecorporateservices@barclays.com

Visit - Our International Corporate Banking WebsiteOpens a new window 


Payments

AED Transfer

Payment made in dirham to accounts within Barclays UAE or to other local banks.

Foreign Currency Transfer

Payment of Foreign Currency to beneficiaries in any part of the world, subject to sanctions.

Managers Cheques in AED

Cheques issued by the Bank for meeting all your local payments, services and commitments, with an added feature of direct couriering to beneficiaries.

 

 

Find out more


Emailuaecorporateservices@barclays.com

Visit - Our International Corporate Banking WebsiteOpens a new window

 

Liquidity

Pooling

You can utilise Pooling to help you maximise yield on your daily cash by offsetting accounts with deficit balances against accounts with surplus balance in different entities. There is no physical movement of balances from the participating entities to the designated cash concentration account.

Sweeping

To maximise yield on your daily cash, these solutions help you concentrate all surplus balances and deficit balances at a pre-defined period into one concentration account. Under a physical sweep structure, balances in multiple accounts are physically transferred from participating accounts to a designated concentration account.

Post-dated cheques

Cheques with a future value date favouring yourselves can be warehoused by us to be presented for payment/clearing on the cheques date.

Post-dated cheques Discounting

Discounting or Advancing funds against a future value dated cheque.

Cheque Clearing and Collections

Presenting your AED cheques through Central Bank clearing system (for UAE cheques) and direct to the drawee banks for realisation of payment for overseas cheques/instruments.

Cash Deposit/Withdrawal

Handling of all cash deposits and withdrawals through any of our cash handling branches in UAE
.

Cash Concentration

Consolidate cash positions and optimise your liquidity wherever you bank1 with automated cash sweeping through our domestic or international Cash Concentration tool.

Is it right for you?

  • You have a centralised treasury function

  • You want automation over the movement of your overseas balances to your treasury centre

  • Cash concentration is available globally, including through third party banks1

How it supports your business

  • You can benefit from the ability to efficiently manage your liquidity, giving you increased funding and investment ability

  • You can define automated cash sweeping2 between accounts held with Barclays or other banks1,  both domestically and cross-border with our automated cash concentration tool

  • Enables you to standardise, streamline and centralise your treasury management

  • Increases flexibility for the use of available funds, whether for internal funding, to reduce borrowing costs, invest surpluses or other uses

  • Supports you in reducing administration time and costs by automating the sweeping process

  • Offers Straight Through Processing (STP) using SWIFT technology3. SWIFT messages monitor account balances and initiate balance sweeps in line with pre-agreed parameters

  • Gives you the flexibility to sweep funds to a centrally managed account on the basis of target balance, threshold balance or frequency4

  • Provides services tailored to your account structure and requirements and can accommodate your existing banking providers

  • Offers implementation and on-going support, with maintenance and any changes you need managed by Barclays

  • We can offer Cash Concentration globally between Barclay’s offices and/or third party banks. This is subject to bilateral agreements between banks and third party banks having the requisite SWIFT capability.

Important Information

The product referred to in this page is subject to separate terms and conditions.

Contact Us

For further information with regards to Cash Concentration Service please contact your Relationship Director or our Corporate Services Team at +9714 3653030 from Saturday to Thursday, 8am to 5pm (UAE time) or write to us at uaecorporateservices@barclays.com.

 
 
 
 
 
1 Subject to service capability
2 Intra Day sweeping available in UAE
3 MT940, MT942 balance reporting and MT101, MT103 payment initiation
4 Daily Frequency ranging from Monday to Thursday subject to Currency holiday and cut-off times.

 

Find out more


Emailuaecorporateservices@barclays.com

Visit - Our International Corporate Banking WebsiteOpens a new window

 

Collections

Direct Debits

Direct debits is an easy to use and secure mode of collecting your recurring receivables. Our Direct Debit sponsoring bank services allows Corporate clients to participate in the UAE Direct debits scheme through our corporate internet platform. This will enable Corporate clients to process direct debits instructions straight through.

Barclays allows you to easily sign up to the service as an Originator by completing the necessary documentation. Our implementation also ensures a smooth transition to Direct debits with no disruptions to your business operations.

  • Affordable alternative method of collecting your recurring payments

  • Increased cash flow predictability

  • Straight through transaction processing improving your reconciliation activity

  • Enhanced control and security in operations

  • Reduced receivables management, which will help drive cost efficiency.

For more information relating to Direct debits please contact our corporate service centre on the contacts details below or contact your Relationship Director.

UAE Corporate Services
Tel: +971 4 365 3030
Fax: + 971 429 1919
Email: uaecorporateservices@barclays.com
Business hours: 08:00 to 17:00 (local time) Saturday to Thursday

 

Channels

We offer a number of electronic banking channels and cash management solutions to help make your banking faster, easier and more efficient, such as:

Corporate Internet Banking

Our fast, convenient and secure Corporate Internet Banking gives you greater control of your transactions enabling you to keep on top of your finances all year round 24 hours a day. With direct, real-time access to your accounts online, you can spend less time on administration and more time running your business.

Learn more about
Corporate Internet Banking

Direct Payment Services

Direct Payment Services provides automated transfer of your payment files by integrating your Enterprise Resource Planning (ERP)/Treasury Management Systems (TMS) with the Bank’s transaction processing engine providing the benefits of Straight through Processing (STP) with no manual intervention.
This service provides enhanced security in Corporate-to-Bank communication on account of a direct established connectivity.

SWIFTNet Corporate Access Service

Our SWIFTNet Corporate Access Service allows you to communicate directly with us using the SWIFT (Society for Worldwide Interbank Financial telecommunication) network. Previously available only to financial institutions, SWIFTNet Corporate Access Service offers a reliable, fast and secure gateway to Barclays for a variety of treasury and cash management purposes.

Learn more about SWIFTNet Corporate Access Service.