User Guide for BIB Online Remittances www.maybank2u.com.sg No part of this document may be reproduced, stored in a retrieval system of transmitted in any form or by any means. Electronic, mechanical, chemical, photocopy, recording or otherwise without prior written permission of: Malayan Banking Berhad Virtual Banking No. 1 Ang Mo Kio Street 64, Maybank Centre, Singapore 569083 1

Table of Contents I. Definition of Online Remittance... 3 II. Process Flow for Online Remittance... 3 1. Creator Part... 4 1.2 Telegraphic Transfer... 5 1.3 Contract Rate Telegraphic Transfer... 10 2. Approval Part... 16 III. Update Remittance Payee List for Online Remittance... 21 IV. View Limit... 25 2

I. Definition of Online Remittance Online Remittances via Business Internet Banking comprises 3 services: Telegraphic Transfer, Demand Draft and Cashier s Order. Telegraphic Transfer Telegraphic Transfer uses authenticated message sent electronically to another Maybank Branch or a correspondent bank, instructing it to pay your beneficiary a specified sum of money. With Maybank s competitive foreign exchange rates, it is a fast and cost-efficient way to send money overseas. Please check our website for list of applicable fees and charges. Demand Draft With a Demand Draft, you can easily send money to almost any part of the world. A cheaper alternative to Telegraphic Transfer, a demand draft is a written order issued by Maybank on your behalf to pay your beneficiary a specified sum of money. It is similar to a Cashier's Order but drawn on our overseas correspondent banks. Please check our website for list of applicable fees and charges. Cashier s Order You can use a Cashier's Order, also known as Banker's Cheque, to pay your beneficiary if he/she does not accept cash or personal cheques. This is a written order for payment, issued in Singapore Dollars, by Maybank on your behalf. Please check our website for list of applicable fees and charges. II. Process Flow for Online Remittance The process flow for Online Remittance Transaction requires the company to assign Authorised users with Creation function (aka Creator) and Approval function (aka Approver). The Creator will initiate and the Approver will authorise the transaction online. The number of Authorised Users required in the submission process will depend on the assigned User Control Option and Approval Mandate of the company. The cut-off time for approving an Online Remittance transaction (TT/DD/CO) is at 10pm daily. This means that the transaction must be fully approved before 10pm of the same day it was created. Otherwise, the created Online Remittance transaction will expire and must be re-created by the Creator. The cut-off time for approving a Telegraphic Transfer (Contract Rate) transaction is 3pm on business days. This means that the transaction must be fully approved before 3pm of the same day it was created. Otherwise, the Online Remittance transaction will expire and must be re-created by the Creator. Service for Telegraphic Transfer (Contract Rate) will be unavailable from 3pm to 9am on the next business day. Telegraphic Transfer (Contract Rate) transactions will be processed on the same business day, provided the contract is valid and all details in the submission are accurate. Submissions with inaccurate information will be rejected. The following screen flow will show the step-by-step process of a Creator and Approver performing an Online Remittance (Telegraphic Transfer) transaction. The process for Demand Draft and Cashier s Order are similar. Note that the actual process for your company may vary depending on the company s assigned User Control Option and Approval Mandate. 3

1. Creator Part 1.1. At the Home Page, click on Remittance Tab. You will be able to see a table. Click on Telegraphic Transfer. 4

1.2. Telegraphic Transfer 1.2.1. You will then see another table. Click on Telegraphic Transfer. 1.2.2. You will be able to view the pre-enrolled beneficiaries. Select your beneficiary and click on Next button. 5

1.2.3. On this page, key in your inputs for the following fields: a) Beneficiary s Bank SWIFT / BIC b) National Clearing Code c) Select from the drop-down list the Currency to be Received by the Beneficiary. d) Amount in foreign currency e) Payment Details free text format. f) Select from the drop-down list your Maybank Account (the funding account). g) Key in your Contact No. 6

Please read the Notes part before you click on the Next button. 7

1.2.4. The next page will display a summary of the transaction you have created. Check through the transaction details and key in your One-time Password (OTP). Then click Confirm to proceed. 8

1.2.5. Upon confirmation of OTP by the system, the status of the transaction will appear in the next screen as: Successful. Transaction pending approval from signatory / authoriser. The Creator must inform the Approver to logon to Business Internet Banking to do the necessary approval for the created Online Remittance transaction. Note: For companies with Single Control (User Control Option) and Any One (Approval Mandate) setup, the Creation part will also be the Approval part if the submission is done by an Authorised User with Approval function. Instead of finding the screen above, the Authorised user will see the screen for step 2.5 (go to page 20) as the final screen of the transaction. 9

1.3. Contract Rate Telegraphic Transfer 1.3.1. At the Telegraphic Transfer table, click on Telegraphic Transfer (Contract Rate).This is only available if you have pre-booked rates with Dealer. 1.3.2. You will be able to view the pre-enrolled beneficiaries. Select your beneficiary and click on Next button. 10

1.3.3. On this page, key in your inputs for the following fields: a) Beneficiary s Bank SWIFT / BIC b) National Clearing Code c) Select from the drop-down list the Currency to be Received by the Beneficiary. d) Amount in foreign currency e) Contract Exchange Rate. After which, the amount in Singapore Dollar equivalent will be autopopulated. f) FX Contract No. g) Payment Details free text format. h) Select from the drop-down list your Maybank Account (the funding account). i) Key in your Contact No. 11

Please read the Notes part before you click on the Next button. 12

A pop-up reminder will appear. Please check that all details are correct before clicking on OK button. 13

1.3.4. The next page will display a summary of the transaction you have created. Check through the transaction details and key in your One-time Password (OTP). Then click Confirm to proceed. 14

1.3.5. Upon confirmation of OTP by the system, the status of the transaction will appear in the next screen as: Successful. Transaction pending approval from signatory / authoriser. The Creator must inform the Approver to logon to Business Internet Banking to do the necessary approval for the created Online Remittance transaction. Note: For companies with Single Control (User Control Option) and Any One (Approval Mandate) setup, the Creation part will also be the Approval part if the submission is done by an Authorised User with Approval function. Instead of finding the screen above, the Authorised user will see the screen for step 2.5 (go to page 20) as the final screen of the transaction. 15

2. Approval Part 2.1. At the Home Page, click on Approval Tab. 16

2.2. At the Transaction Approval page, select Remittance in the dropdown list for Transaction Category and Telegraphic Transfer in the dropdown list for Transaction Type. Click Search to continue. 17

2.3. You will see a list of Online Remittance (TT) transactions that require your approval. Select the transaction you want to approve then click on Approve. 18

2.4. The transaction created earlier will be shown to you for validation. If you intend to proceed with the approval process, enter the OTP then click on Confirm. 19

2.5. The final screen will show this status upon proper validation of the Approver s OTP: Successful. Transaction has been approved by all required signatories/ authorisers. If the company requires more than 1 Approver to complete the Online Remittance transaction, the status will be: Successful. Transaction pending approval from signatory / authoriser (same as screen in step 1.3.5 on page 15). The process under items 2.1 2.4 will be repeated by the other Approvers until all required approvers in relation to the assigned Approval Mandate of the company are able to approve. The Approval Mandate of a company can either be Any One, Any Two, Any Three or Customised Mandate. 20

III. Update Remittance Payee List for Online Remittance Before you can perform an Online Remittance transaction, all beneficiaries (payees) must be pre-enrolled through the Update Remittance Payee List function. Here s the process flow on how to enroll and delete beneficiary for Online Remittance service. 1. Add Payee To add a new payee, click on Remittance tab and select Update Remittance Payee List at the left menu. Click on Telegraphic Transfer button at the bottom of the page and click Add. 21

1.1 Key in the Beneficiary s details in the fields provided. Click on Next button to proceed. 22

1.2 This page will display the beneficiary s details which you have keyed in earlier. An Authorisation Code to update payee list will be sent via SMS to the registered mobile number of the Authorised User. Check through the details and enter the OTP. Click Confirm. 23

1.3 Once the system accepts the OTP, the new beneficiary will be successfully enrolled in the payee list. You may now proceed to do your Online Remittance transaction with the new beneficiary. 24

IV. View Limit Authorised Users with Approval function are authorised to view the Daily Customer and Transaction Limits. Simply click on Remittance tab select View Limit at the left menu. 25

-End of Document- 26