bot.com.tw Electronic Payment Service : Bank of Taiwan

Organization : Bank of Taiwan
Facility : Electronic Payment Service
Country : Taiwan
Website : http://www.bot.com.tw/English/BankServices/ElectronicBankingServices/ElectronicPayment/Pages/default.aspx

Electronic Payment Service :

1. When will electronic payment be useful :
** When you are surrounded by a huge number of account transfer and remittance bills of the customers.

Related : Bank of Taiwan Internet Banking : www.statusin.org/28405.html

** When remittances that cannot be written off always appear on the passbook.
** When you hope to provide customers with a convenient and safe payment method.

** When you hope to save time and labor on payment collection, and use computer to assist with the write-offs.

2. Advantages of Electronic Payment :
With the electronic payment services offered by the Bank, you will enjoy the advantages of :
** providing convenient and multi-channel payment methods to the payers. In addition, you no longer need to fax any payment details and will not be surrounded by lots of bills.

** individualized account management that can simultaneously check the payment amount and the payer, and make quick and correct write-offs.
** obtaining the complete information about payment collection situation through instant/batch electronic profile or Internet banking services.

3. Contents of Electronic Payment :
** Tuition and fees
** Internet malls
** All kinds of phone bills

** Collection of additional paid-in capital
** Credit card bills
** Administration fee of the residence buildings
** Insurance fee

** Retirement reserve fund and retirement pension
** Utility fees (electricity, water fees, etc.)
** Application and redemption of domestic mutual funds
** Fees for computerized write-offs

4. Description of the Process :
** Through advance arrangement, customers can fully grasp the source of each account transaction (cash flow).
** The virtual account design integrates the bank-side cash flow and company-side information flow.

** Provide companies with convenient and automatic write-off services.
** Companies can look up all the payment details through E-banking services.

** Operational features :
i. Provide multi-channel payment (collection) : including ATMs of all banks, Internet banking, Internet ATM, telephone (mobile) banks, FEDI, remittance of other banks, and counters of Bank of Taiwan.

ii. Separation of the account from the details of collection makes it easy to double-check the account.

iii. Customers can get the information about payment collection through the following ways :
a. Batch transmission (general service)
b. Instant transmission (provide upon individual request)

c. E-banking site of the Bank
iv. Media used for account checking and write-off : disk, e-mail, or other methods agreed with the Bank.

5. Method of Application :
1. Contact the local branches to open a demand account for payment deposits.

2. Apply for Internet banking SSL service system, which offers the convenience of looking up the information and downloading the payment collection details at any time.

3. Fill in the “Bank of Taiwan Agency Payment Collection Application” to apply for the electronic payment collection services offered by the Bank.