SpeedCollect

SpeedCollect is a comprehensive solution which enables effective receivables management.

SpeedCollect is dedicated to companies which:

• have a large base of customers, contractors or debtors
• receive recurring payments
• have problems with on-time collection of their receivables
• have problems with prompt reconciliation of their receivables
• have problems with identification of payments or payers
• face huge delays in the reminder and collection process

How it works

• Rapid identification of an incoming payment, regardless of the sender’s details and payment title, possible because an individual virtual bank account is opened for each payer.
• All payments incoming to virtual accounts are reported via easy accessible electronic output files (which can be made available even a few times a day) in a format defined by Clients, compatible with their financial and accounting systems.

Are you interested in our offer?

Please contact CitiService Advisors.

CitiService Advisors are available Monday to Friday from 8.00 am to 5.00 pm.

Additional information

This service is also provided for PLN accounts for incoming payments which are to undergo currency conversion (conversion details are available in output files) and for foreign currency accounts. Additionally, it covers incoming payments from all clearing systems used by the Bank: Elixir, Express Elixir, SORBNET and SWIFT, and cash payments, including bill payments, e.g. from Polish Mail.

Bank Handlowy w Warszawie S.A., operating under the Citi Handlowy brand, started SpeedCollect in 1995 as the first bank in Poland’s market to offer such a service. Now we hold a strong position in this segment, with the number of payments processed at the level of 100 million per year.

SpeedCollect – user benefits:

• No delays in access to payment details (electronic reports).
• Top quality of information due to advanced technology solutions.
• Possibility to adapt the format of SpeedCollect reports to the Client’s requirements.
• The service can be activated for foreign currency accounts or PLN accounts with automatic currency conversion.
• Operational savings resulting from:
  • easy access to information – output files can be downloaded directly for the CitiDirect BE electronic banking system or CitiConnect (direct integration with the financial & accounting system of the Client)
  • easy accounting of proceeds due to the transparent structure of electronic payment reports
  • improvements in the reminder and collection process due to fast delivery of payment details