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Microenterprise Access to Banking Services Program
Consolidation, Settlement, and Reconciliation
RBAP-SMART Money Accreditation Training
Consolidation
All or excess Smart Money Account balances of the branches is transferred to the Smart Money Account of Head Office (Cash Loading Mother Wallet) for consolidation of all Smart Money balances and settlement at the end of the day to BDO.
Transfer is done wallet-to-wallet.
Wallet to Wallet
Manual sending of funds to Head Office by using a cellphone.
Head Office
Branch1
Branch2
Branch3
Smart MoneyMOTHER Accounts
Cash Loading Mother Account
Bank Head Office and Branches must keep logs of amount transferred per branch for references purposes.
SMB CLA SMB CLA SMB CLA
Los Banos July 25, 2010
Elena Dela Cruz 5299-6789-9098-5009 500.00 July 25, 201010:00 am 1234567888
Max Domingo 5299-6789-9098-9876 1,000.00 July 25, 20109:30 am 1234567852
1,000.00 500.00
Head Office
Los BanosPaeteCadelaria
25 July 2010
10,000.00
10,000.00
10,000.00
30,000.00
072509
072509
072509 8:15a
8:15a
8:15a 1234567809
1234567899
1234567811
9,500.00 072509 3:30p 1234567555
34,500.00
20,000.00 072509
072509 8:15a
8:15a 1234567899
123456781115,000.00
Los BanosPaeteCadelaria
Transfer funds from Cash Loading Account to Encashment Account
Transfer of SMART Money Cash Loading Mother Account Balance to SMART Money Sweep Mother Account.
Sweep Mother Account will have zero balance after the sweep.
SweepMother Account
Cash LoadingMother Account
Head Office
Settlement
Funds from the Sweep Mother Account are auto-sweeped and credited/transferred to the accredited bank’s enrolled BDO CA/SA.
Rural bank be enrolled with with BDO’s Auto-Sweep Settlement and enroll in the Auto-Sweep System Facility.
Sweep Mother Account
Cash LoadingMother Account
Head Office
Auto-sweep
Reconciliation (Client Level)
For any discrepancy regarding balances of Smart Money Account of the Account Holder (Client), Bank must advise the Account Holder to call Smart Money Hotline 15177 (Toll Free) from his mobile phone to know every transaction details.
Reconciliation (Bank Level)
The following must be compared with the transactions logged in the Client Transaction Report and Inter-Office Transaction Report:
- Smart Money Acknowledgement Receipt
- Smart Money Transaction Confirmation Receipt
- Official Receipt- Pre-fund- Transaction Request Forms
Reconciliation (Bank Level)
Bank may also check the Balances and Transactions using Transaction Logs (such as Client Transaction Report and Inter-Office Fund Transaction Report) against Statement of Account that is provided by Smart Communications to the Bank on a per account basis.
Bank may also call Smart Money Settlement Support for concerns regarding balances.
The Smart Money Portal is another tool that Smart Money partners can use to validate and reconcile daily transactions.
What is Smart Money Portal?
Web-based frontend tool for Smart Money trade partners (can be accessed using a web browser and internet connection)
Supports generation of transaction reports (for Phase 1) and will eventually support financial transactions such as disbursement (Phase 2)
What transactions are currently supported?
Reports Generation
Daily Transaction Summary Reports MIMOs (Networked Fulfillment Centers) MFIs (Lending)
Smart Money Accounts assigned to the Client will be the basis for reports generation
Reports can be downloaded in .csv or .txt format
How do I avail of this facility?
Client should sign an agreement with Smart (e.g. MOA for being a MIMO Center)
Client fills out application form and submits to Smart (Account Manager)
Smart creates user account and notifies Client regarding the access details
No monthly service fee will be charged to the Client
What access levels are available?
Client Admin
COMPANY
Reports Admin
BRANCH
Branch Admin
Branch User
SMART
Smart Admin
INDIVIDUAL
Individual User
Receiving AccountDisbursing Account
Branch Account
User Account
User Account
Notes:
• The portal can be opened using Internet Explorer or Mozilla Firefox. •Currently, reports are made available in the system at 11:00am.