New Capability to handle DC Payments

Up until this month, the only way we could handle the DC Payments for clients was via a Letter of Credit arrangement between your bank and the ASB Payment Management Service.  This involved creating a lending facility with your bank and incurred ongoing fees.

They have now introduced a new option for those clients where their net payment is less than $10,000 per payment which does require a Letter of Credit.  Instead you guarantee to have funds available to clear the payments.  If there is not clear funds available then the ASB can reverse any payments made.

If you are interested in this option then let us know and we can forward you the required documentation.

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