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Aggregation of Fees and Postage

Description

For Clients that execute many transactions and therefore get account statements full of entries related to fees and postage costs due to daily operations, Millennium bcp provides a service called Aggregation of Fees and Postage, a mechanism that regularly aggregates these entries and enables greater efficiency in the control and reconciliation of account entries.

The Aggregation of Fees and Postage enables you to replace an extensive list of fees and postage charges by a single aggregated entry, with the additional possibility of such aggregation being made for more than one demand deposit account (as long as of the same holder and in the same currency).

The main advantages of using this service are:

  • greater efficiency in the control and reconciliation of account entries regarding fees and postage;
  • Replace an extensive list of entries by a single aggregated entry, debited only at the end of the aggregation period;
  • Possibility of aggregating fees and postage of several demand deposit accounts to be debited on a single account;
  • Each fee/postage charge is given a reference – unique and exclusive – that allows you to identify exactly each type of operation carried out in the aggregation period;
  • Possibility of providing Transaction Packages, i.e. providing a single pricing for a finite set of transactions available.

How it works

The Aggregation of Fees and Postage is a service that identifies, sums and records all the transactions, fees and postage for a given period of time. This service is purchased by the Client from the Bank against the payment of a fee debited when agreed.

The fees/postage charges for the following can be aggregated:

  • Domestic transfers
    • One-off transfers;
    • Permanent transfers;
    • Bulk Transfers;
    • Transfers via TARGET;
    • Transfers via SEPA;
    • Bill Payments;
    • Payments to the State.
  • International Transfers
    • Payment Orders issued and received;
    • Sundry Foreign Operations.
  • Domestic Cheque
    • Request;
    • Return;
    • Request for Copy or Image;
    • Other services with cheques.
  • Cheque Outsourcing
  • Foreign Cheques Issued and Paid
  • Collections
    • Collections by Account Debit;
    • Collections by Direct Debit;
    • Collections by Direct Debit SEPA.
  • Account Maintenance Fees
  • Cash Pooling
  • Warnings and SMS Service
  • Multi-banking Channel

This service provides to Customers an Aggregated Bank Slip with a double component:

  • Summary Component:
    This the "cover" of the document with a summary per transaction of the entries recorded, detailed per channel (automatic or not) with information on:
    • the number of operations made during that period of time;
    • the net value of fees;
    • the type and total amount of taxes;
    • the pricing discount the Client may have.
  • Detailed Component:
    Provides details on all entries in the summary component.

The Aggregated Bank Slip:

  • is issued with the same regularity as agreed for the aggregation period (default: monthly);
  • is drawn up in a single document, even if the service includes several accounts, i.e., there is the possibility of aggregating fees and postage of several demand deposit accounts to be debited to a single account;
  • includes a description of the entries included in each debit, that unequivocally identifies its source, so as to make their reconciliation easier;  
  • can be issued in a foreign language (English or Spanish).

Besides the paper statement or e-statement, Clients can also receive the statement in ".txt" format.

This function is mainly targeted at Clients that, though they wish to be debited for fees and postage in aggregated form, for operating and accounting purposes, wish to treat entries individually (one operation at a time).

This function is only provided by subscription at the companies website here assuming that the company already has an active registry for using the website.

Millennium bcp provides a file with a specific layout, to make it easier to enter the data into the clients' software.

Costs

Consult the pricing in force, available for consultation in any Branch of Millennium bcp or at www.millenniumbcp.pt princing.

How to subscribe

Contact your Client Manager or go to a Millennium bcp Branch and find out how to get the Service for the Aggregation of Fees and Postage.


02.002.5453 - 2012/03/26