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B2 TDI Remittances
- 1. Payment Solutions B2 TDI – Overseas Remittances B2 TDI Limited, 60 Lombard Street, London EC3V 9EA, T: +44 203 178 5910 E: info@b2-tdi.com
- 2. B2 TDI Remittances Customer Need • Nationals living or working abroad are increasingly demanding a simple and efficient Internet based remittance service providing fast delivery without transaction costs
- 3. B2 TDI Remittances Bank Requirement • Banks are looking to provide a simple and proven Internet based remittance service to their clients who also maintain offshore bank accounts with debit/ATM cards incorporating a complete STP solution without the need to be involved in know your customer (KYC) issues
- 4. B2 TDI Remittances Role of Card Providers • Card providers and issuing banks have already done KYC processes for card holders. • Card providers have the ability to authorize card transactions on-line and to securely hold card details
- 5. B2 TDI Remittances End-User Customer profile • Nationals maintaining offshore banking accounts with debit/ ATM cards in their country of residence wishing to transfer funds to their home-based bank accounts
- 6. B2 TDI Remittances Proposition • Platform already set up and ready for production • Short time to deploy • Low implementation costs
- 7. B2 TDI Remittances How Does the Process Work?
- 8. B2 TDI Remittances Funds Flow Offshore Customer’s Card Bank Account Debit Local Credit/ B2 TDI Card Credit Bank’s Debit Remittance Local Services Offshore Local Bank Portal Provider Customer Nostro Account Off-shore Customer logs into Card services provider Local bank’s offshore B2 Remittance Portal validates the transaction Nostro Account debited Customer and selects the card and authorizes as with transaction amount details, beneficiary, appropriate, debiting the and individual local currency and amount customer’s offshore customer’s accounts NB: Exchange rate bank account & crediting credited (in the books at fixed by local bank as the local bank’s the local bank). and when required. nominated Nostro Account at close of business daily (total remittances for the day).
- 9. B2 TDI Remittances Information Flow B2 TDI Card Credit Local Remittance Services Bank Portal Provider - Customer logs into Card services provider -Individual remittances B2 Remittance Portal validates the transaction details available real- and selects and authorizes as time. remittance details. appropriate, advising B2 Remittance Portal real- - Daily, at the close of -- following validation time. business, local bank’s and authorization by offshore Nostro Account Card Service -Details available to local payment file uploaded Provider, details of bank in real-time. into the local bank’s core each remittance are banking system. made available to the - Confirmation of local bank in real- payment to local bank’s time. offshore Nostro Account and total remittances for -- Payment file sent the day advised to local to local bank daily at bank at the close of each the close of business business day. containing details of each successful remittance.
- 10. B2 TDI Limited 60 Lombard Street London EC3V 9EA T: +44 (0)203 178 5910