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Copyright © 2012 Automated Clearing House (EG-ACH) EG-ACH Direct Credit for Corporate
Copyright © 2012 Egyptian Banks Company CBE - Payment and Settlement Systems In its effort to develop payment systems in Egypt, CBE has established Real Time Gross Settlement (RTGS) system for large value payments, CBE has assigned EBC with the development of the Automated Clearing House (ACH) system for bulk payments. 2 RTGS ACH CCH EGP CCH EGP CCH USD, EURO CCH USD, EURO Mobile Central Bank of Egypt Banks 123 EBC Role CBE Role
Copyright © 2012 Egyptian Banks Company EG-ACH Introduction The Egyptian Automatic Clearing House (EG-ACH) is a nationwide Electronic Funds Transfer (EFT) network. EG-ACH processes batches of interbank Credit and Debit transactions. EG-ACH facilitates a wide range of (B2B, B2C, C2C) payments such as salary distribution, supplier payment, governmental payments, pension distribution and many more. 3
Copyright © 2012 Egyptian Banks Company EG-ACH Characteristics Batch system Credit Transfers & direct debit to/from all banks High volume, Low value transactions Low Cost Non-Real time Ability to cancel/reject transactions Multi-lateral settlement Support for forward value dates 4
Copyright © 2012 Egyptian Banks Company EG-ACH Workflow 5 Originating Bank Receiving Bank Payees: Individuals Payers: Corporations RTGS Corporate Individual Corporate Individual Funds Movement
Copyright © 2012 Egyptian Banks Company ACH Benefits for Corporate Cash management Initiate all payments from one bank account Business-to-Business payments (Supplier payments, Merchant payments) Improves cash flow management Reduces processing cost (No paper work, less time) Easy recurring payments Reduce domestic transfers transaction cost Secure and cost effective mechanism to eliminate cash transfer risk 6
Copyright © 2012 Egyptian Banks Company EG-ACH Usage for Corporate Business to Business Payments Payment for customers (Same day/Forward value). Supplier Payments Payroll 7
Copyright © 2012 Egyptian Banks Company 8
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall
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