Knowledgebase

– Most Restrictive Order New Account – §229.13(a) Redeposit – §229.13(c) •Does the deposit include a previously returned deposit item (returned for reason other than forendorsement or post date)?•If previously returned item is deposited, place EXCEPTION HOLD for REDEPOSITED Check for 7business days on full amount of deposited checks. ($200 rule does not apply)•If transaction … Read more

1. Credit Payment Orders (Push Payments) Funds are initiated by the sender and pushed to the recipient. Wire Transfer Orders Typical instruction fields ACH Credit Orders Book / Ledger Transfers 2. Debit Payment Orders (Pull Payments) Funds are pulled by the receiver with authorization. ACH Debit Orders Check / Draft Presentment 3. Conditional / Standing … Read more

1. Choose Your Account Type and Purpose Purpose Best Option Personal offshore savings Offshore private banks or international branches (e.g., Switzerland, Singapore) International business Multinational banks with U.S. and global presence (e.g., HSBC, Citi, Santander) Remote investing or FX Online multi-currency platforms (e.g., Wise, Revolut, Mercury, Payoneer) Residency or second citizenship banking Bank in the … Read more

In this article we explore some methods to HSC’s ERP or treasury systems with partner banks. In addition, it explores some trends on how SWIFT is accessed and covers HSC’s Multi-Bank Connectivity tool. Within the space of bank connectivity, there is a range of choices that corporates face when deciding the best way to integrate … Read more

Joost explained that bank connectivity fundamentally concerns how a company exchanges data or information with its banks. For example, as a treasury professional, you would want to be able to access your account balances across all your banks as a basic requirement. The Traditional Approach: Manual Processes The traditional way to do this, as described … Read more

Customer Due Diligence is a multi-step process that involves collecting and verifying information about a business during onboarding. We’ve compiled a checklist to help companies streamline this process while ensuring full compliance with regulations. CDD checklist CDD helps companies minimize the number of illegal activities conducted through their platform, including identity fraud or money laundering.  … Read more

Our clearing account is a third-party pass-through master account that held and managed by the Hill Scott Corporation HSC a Louisiana Clearing Corporation with a commercial Clearing Bank.  The clearing account is used as an external zero balance commercial bank product. It is the initial receiver of high value private funds. Private funds are transferred … Read more