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Automated Clearing House ( EG-ACH )

Automated Clearing House ( EG-ACH ). EG-ACH Direct Credit for Corporate. 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,

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Automated Clearing House ( EG-ACH )

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  1. Automated Clearing House(EG-ACH) EG-ACH Direct Credit for Corporate

  2. 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. EBC Role Central Bank of Egypt CBE Role RTGS CCH EGP ACH 123 Banks Banks Mobile CCH USD, EURO

  3. 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.

  4. 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

  5. EG-ACH Workflow Originating Bank Receiving Bank Payers: Corporations Payees: Individuals RTGS • Corporate • Individual • Corporate • Individual Funds Movement

  6. 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

  7. EG-ACH Usage for Corporate • Business to Business Payments • Payment for customers (Same day/Forward value). • Supplier Payments • Payroll

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