Rural Bankers Association of the Philippines & Micro enterprise Access to Banking Services G-CASH-IN/CASH-OUT (CICO) Service Training INTERNAL PROCESS PROCEDURES RBAP Confidential and Proprietary
TRAINING FRAMEWORK G-Cash 101 CICO TAP & TAD RBAP Confidential and Proprietary
Objectives q q To provide the requirements for the bank’s personnel and customers in cashing-in and cashing out G-Cash value to/from the recipient/sender’s mobile phone, emphasizing on the “KYC” rule; To provide detailed policy and procedure for the bank’s personnel to follow in accepting G-Cash transactions; To provide detailed roles and responsibilities of bank personnel before; To provide detailed procedures of securing G-Cash transactions through menu-driven interface. RBAP Confidential and Proprietary
Topics n n Pre-requisites Security and Internal Control Customer Verification Requirement Procedures: • • • Cash-in Cash-out Posting/Recording Consolidation Settlement Reconciliation RBAP Confidential and Proprietary
Pre-requisite In order for the client to avail of the CICO service through the Rural Banks: 1) The client should have a cellphone with active Globe or Touch Mobile SIM; 1) The client needs to register with Globe G -Cash or G-Cash account is already activated. RBAP Confidential and Proprietary
Security and Internal Control 1) The custodian of the mobile phone must be an officer of the bank (Cashier/Manager/any Designated Officer of the Bank) 2) M-PIN (Mobile Personal ID No. ) and security code of the mobile phone must be secured and should not be known to anyone other than the designated custodian of the mobile phone. 3) It is required that G-Cash Menu-Driven Interface must be used. To access Menu-Driven Interface in your cellphone, go to Globe Services (Globe Svcs+) then click on my. Favorites>G-Cash RBAP Confidential and Proprietary
Security and Internal Control 5) The bank’s mobile phone must be used only for purely G-Cash related activities. 6) Branch’s Mobile Phonebook/SIM must contain Head Office’s Cellphone Number (2882+10 -digit Head Office Cellphone Number) 7) Phone-to-Phone (P 2 P) Fund Transfer transactions must be supported by receipts and recordings in the Logsheet and/or G-Cash Journal 8) Any internal/security control violations should not be tolerated and must be reported immediately for proper action (Please see information security policy manual). RBAP Confidential and Proprietary
Customer Identification Requirement KYC “Know Your Customer” RBAP Confidential and Proprietary
Customer Identification Requirement - “KYC” Republic Act No. 9160 Anti-Money Laundering Act of 2001 “Money laundering is an act or series of acts whereby proceeds of an unlawful activity, whether cash, property or other assets, are converted, concealed or disguised to make them appear to have originated from legitimate sources. One way of laundering money is thorough the financial system. ” RBAP Confidential and Proprietary
Customer Identification Requirement - “KYC” Covered Institutions (Rural Bank) shall: 1. Establish and record the true identity of their clients based on official documents; 2. In case of individual clients, maintain a system of verifying the true identity of their clients; 3. In case of corporate clients, require a system verifying their legal existence and organizational structure, as well as the authority and identification of all persons purporting to act in their behalf; 4. Establish appropriate systems and methods based on internationally compliant standards and adequate internal controls for verifying and recording the true and full identity of their customers. RBAP Confidential and PROCESS FLOW Proprietary
Cash-in Procedure (Client) 1) Clients (existing or walk-in) must accomplish the G -Cash Service Form; 2) Client must submit valid ID for Bank’s verification; 3) If not G-Cash registered, must register “OTA” NOTE: If client is not able to provide the appropriate documentation as required, the transaction will not be processed and the client will be informed about the required information that needs to be complied with. All documents submitted by the client will be returned except the filled-up G-Cash Service form. The bank shall keep this form for future reference. RBAP Confidential and Proprietary
Cash-in Procedure (Client) 4) Client pays the cash equivalent of the cash-in amount and the corresponding cash-in fee; 5) Client waits for the confirmation message as the cashier completes the P 2 P transaction to the client’s mobile phone; 6) Client checks on correctness of the amount transferred to his mobile phone. RBAP Confidential and Proprietary
Cash-in Procedure (Bank) 1) 2) 3) The bank teller (or any personnel designated to handle G-Cash transactions e. g. new accounts clerk) must use the G-Cash Service Form in all Cash -in transactions; The teller checks the completeness of the G-Cash Service Form, and further performs verification procedure based on the accomplished form and ID(s); The teller receives cash payment from the client, posts and validates the transaction; NOTE: If client is unregistered, the bank personnel shall advise the non-registered Globe and TM subscriber to register using the G-Cash menu driven interface; RBAP Confidential and Proprietary
Cash-in Procedure (Bank) 4) The teller forwards the copies of validated documents to the cashier for the P 2 P transactions, making reference to the information on provided by the client in the G-Cash Service Form; Options Send G-Cash Out Balance Last Txn Using G-Cash menu, find the Send GCash option and Click it. 123 MPIN? **** Enter 4 -digit MPIN of the bank branch and Click OK. RBAP Confidential and Proprietary You will see masked characters represented by asterisks (*)
Cash-in Procedure (Bank) 123 abc Enter 11 digit Mobile #: Amount? 09174446000 1000 Enter 11 -digit Mobile Phone Number of the client and Click OK. Enter the AMOUNT of G -Cash Value equivalent to the Cash-in amount You have sent 1, 000. 00 of GCash to ABC Rural Bank, Inc. on 03/14/05 09: 21 AM. Your new balance is 992. 00. Ref. no. 4434334. The bank will receive a confirmation message. The client who receives the G-Cash transfer will also receive a confirmation message with the same Reference Number RBAP Confidential and Proprietary
Cash-in Procedure (Bank) The teller shall collect service fee on top of the Cash–in amount received, and only CASH shall be accepted for the cash-in amount and service fee; 6) Acknowledgement receipt equivalent to the amount sent shall be issued by the teller to the client to document the transaction; 7) An official receipt shall be issued by the teller to the client for the service fee paid by latter; 8) The teller should ensure that the bank keeps the original copy of the G-Cash Service Form, copy of the client’s ID and the acknowledgement receipt. Transaction trace number shall be indicated in the G-Cash Service Form; 5) RBAP Confidential and Proprietary PROCESS FLOW
Cash-out Service Cash-out transaction means deducting G-Cash Value from the client’s mobile phone in exchange of cash, credit to account, payment of loans or payment of other services and transactions of the bank RBAP Confidential and Proprietary
Cash-out Procedure (Client) 1) Clients (existing or walk-in) must accomplish the G-Cash Service Form; 2) Client must submit valid ID for Bank’s verification; NOTE: If client cannot provide the appropriate documentation as required, the transaction will not be processed and the client will be informed about the requirement that needs to be complied with. All documents submitted by the client will be returned except the filled-up G-Cash Service form. The bank shall keep this form for future RBAP Confidential and reference. Proprietary
Cash-out Procedure (Client) 3) Upon instruction of the bank cashier, the client performs P 2 P to effect the transfer of electronic cash to the bank; 4) Client verifies the correctness of the transaction via the confirmation message; 5) The client also pays the corresponding cash-out fee to the bank; RBAP Confidential and Proprietary
Cash-out Procedure (Bank) 1) The bank teller (or any personnel designated to handle G-Cash transactions e. g. new accounts clerk) must use the G-Cash Service Form in all Cash-out transactions; 2) The teller checks the completeness of the G-Cash Service Form, and further performs verification procedure based on the accomplished form and ID(s); 3) The teller post and validates the transaction; 4) The teller shall collect service fee equivalent to 1% of the Cash–out amount received, and only CASH shall be accepted for the service fee. RBAP Confidential and Proprietary
Cash-out Procedure (Bank) The teller shall forward the completed G-Cash Service Form together with ID(s) to the cashier; 6) The cashier shall give the G-Cash mobile phone number of the bank to the client and instruct the client to perform P 2 P using the G-Cash menu driven interface; 5) Options Send G-Cash Out Balance Last Txn for Send G-Cash Click it. 123 MPIN? **** Enter 4 -digit MPIN and Click OK. RBAP Confidential and Proprietary MPIN and you will see a masked characters represented by an asterisk (*)
Cash-out Procedure (Bank) 123 abc Enter 11 digit Mobile #: Amount? 09174446000 1000 Enter the 11 -digit Mobile Phone Number of the Bank-Branch and Click OK. Enter the AMOUNT of G -Cash Value equivalent to the amount of loan to pay RBAP Confidential and Proprietary You have sent 1, 000. 00 of GCash to ABC Rural Bank, Inc. on 03/14/05 09: 21 AM. Your new balance is 992. 00. Ref. no. 4434334. Wait for confirmation message, and record its corresponding reference or trace number
Cash-out Procedure (Bank) 7) 8) 9) 10) Acknowledgement receipt equivalent to the amount cashed out shall be issued by the teller; The teller shall issue an official receipt for the service fee paid; The teller should ensure that the bank keeps the original copy of the G-Cash Service Form, copy of client’s ID and the acknowledgement receipt. Transaction trace number should be written on the G-Cash Service Form; If the Cash-out transaction is drawn for deposit to the client’s accounts, the Teller shall require the client to fill up and signs a deposit slip. This document will also be filed together with the GCash form. RBAP Confidential and Proprietary PROCESS FLOW
Recording Procedure at the Bank n In the absence of an automated recording system, the teller or bookkeeper or whoever is the one in-charge shall record the Trace/Reference Number, transaction date and time, amount, G-Cash name, whether the transaction was initiated by the bank or client, into the G-Cash Journal-CICO ; n All inter-office transfers shall be recorded in the G-Cash Journal – Inter-Office Fund Transfer NEXT PHASE: AUTOMATED RECORDING RBAP Confidential and Proprietary
Consolidation Procedure (Branch Level) 1) At cut-off time, the branch must initiate the (phone -2 -phone) fund transfer to Head Office Menu-Driven: To start G-Cash fund transfer, Go to Globe Services Menu (Globe Svcs+)>my. Favorites>GCash>Send G-Cash (then Click OK) • Enter your M-PIN (then click OK) • Enter the 11 -digit of the Head Office G-Cash cellphone number (then Click OK) • Enter the total amount of G-Cash to Transfer to RBAP Confidential Head Office (then Proprietary and Click OK)
Consolidation Procedure (Branch Level) 2) Record/Log (in your G-Cash Inter-Office Journal) the Amount, Date, Time and Trace Number to indicate transfer of transaction; 3) Fax or email G-Cash Journal to Head Office; 4) Entire amount in the G-Cash Wallet of the branch should be transferred to Head Office not later than 3: 30 p. m. Branch G-Cash Wallet balance should be Zero (0) at the end of the day. Except when the bank specifically instructed GXI to maintain a wallet “threshold” in specified amount. RBAP Confidential and Proprietary
Consolidation Procedure (Head Office Level) n Accounting Section to wait for the SMS confirmation for the Branch initiated transactions, record/log (in your G-Cash Journal - Inter-Office Fund Transfer) the Branch Name, Amount, Date, Time and Trace Number/Reference No. RBAP Confidential and Proprietary
Settlement Procedure (G-Xchange) n At 4: 00 p. m. , GXI shall ‘initialize’ or reduce Rural Bank’s electronic G-Cash wallet corresponding to the amount to be credited to Rural Bank’s settlement bank account. n Before midnight daily, G-Xchange, Inc. (GXI) shall initiate a fund transfer from GXI account to Rural Bank’s Settlement Account. RBAP Confidential and Proprietary
Settlement Procedure (Head Office) n Head Office may be able to verify the fund transfer through the on-line/internet banking facility of the settlement bank on the following business day. n GXI shall send via email a report containing the daily summary of transactions of all branches enrolled under the program to the Head Office on the following business day. FINANCIAL RBAP Confidential and Proprietary ILLUSTRATION
Reconciliation (Branch Level) 1) Perform balance Inquiry of the G-Cash wallet by using G-Cash Menu-Driven Go to Globe Services (Globe Svcs+)>my. Favorites>G-Cash>Balance Enter M-PIN RBAP Confidential and Proprietary
Reconciliation (Branch Level) 2) Wait for the reply message from Globe 3) Compare G-Cash wallet balance against Total Collection found in the G-Cash Journal 4) In case of difference in the two balances, raise an incident report and submit to the Head Office accounting department for Reconciliation. Through the Transaction List which is available through email, Head Office will be able to reconcile balances. RBAP Confidential and Proprietary
Reconciliation (Head Office Level) 1) Always establish Beginning and Ending of the Day balances for easy reconciliation on a daily basis. 2) To get Ending Balance #1 - Add G-Cash Wallet Beginning Balance of the day (as recorded in the G -Cash Journal) and P 2 P (phone-to-phone) Fund Transfer transactions during the day. 3) To get Ending Balance # 2 - Add G-Cash Wallet Beginning Balance of the day and the Total Transactions in the Logsheets (Faxed by the branches). RBAP Confidential and Proprietary
Reconciliation (Head Office Level) 4) To get Ending Balance # 3 - Perform Balance Inquiry of the G-Cash Wallet Balance using: Menu-Driven Globe Services (Globe Svcs+)>my. Favorites>G-Cash>Balance then Enter your M-PIN and click OK. RBAP Confidential and Proprietary
Reconciliation (Head Office Level) 5) Compare End Balance #1, End Balance #2 and End Balance #3. These balances should be of the same amount. 6) If there is a difference in any of the ending balances, check the Daily List of Transactions from Globe, Text Messages of the P 2 P Fund Transfer (if text messages are still available in the cellphone) and Transaction Entries in the Logsheet. RBAP Confidential and Proprietary
Accounting Entry (Head Office Level – Part I) n Entry #1 A/R – G-Cash Due from Banks XXX To record pre-funding of G-Cash value to the Head Office G-Cash Wallet n Entry #2 Due from HO/Branches A/R G-Cash XXX To record transfer of G-Cash value to the branches RBAP Confidential and Proprietary
Accounting Entry (Branch Level) n Entry #1 A/R – G-Cash Due to HO/Branches XXX To record G-Cash value received from Head Office n Entry #2 Cash In Vault A/R G-Cash XXX To record total Cash-in transaction for the day RBAP Confidential and Proprietary
Accounting Entry (Branch Level) n Entry #3 G-Cash Fund XXX Due from Bank’s/Cashiers Check XXX To record establishment of G-Cash fund to accommodate Cash-out transactions in lieu of Cashier’s Check for disbursement n Entry #4 A/R G-Cash Fund XXX To record total Cash-out transactions during the day RBAP Confidential and Proprietary
Accounting Entry (Branch Level) n Entry #5 G-Cash Fund XXX Due from Bank’s/Cashiers Check To record replenishment of G-Cash fund n Entry #6 Due from HO/Branches A/R G-Cash XXX To record transfer of G-Cash Value to HO for RBAP Confidential and consolidation and settlement Proprietary XXX
Accounting Entry (Head Office Level – Part II) n Entry #1 A/R G-Cash XXX Due to/from HO/Branches XXX To record G-Cash Value received from the branches for consolidation n Entry #2 Due from Banks A/R G-Cash XXX To record G-Cash Value settled by GXI through the RBAP settlement bank Confidential and Proprietary
Accounting Entry (Head Office Level) n Entry #3 A/R – G-Cash Account XXX Due To/From Head Office/Branches XXX To record the P 2 P Fund Transfer of G-Cash from branches n Entry #4 Due From Banks (BPI) A/R G-Cash XXX To record G-Cash Settlement with Globe n Entry #5 Due To/From Head Office/Branches XXX Due From Banks (Branch Depository) XXX To record the payment of Head Office to branch’s loan collection RBAP Confidential and through G-Cash Proprietary
Thank you & God speed! RBAP Confidential and Proprietary
Bank Branch Mobile Phone Number ABC Rural Bank Intramuros Branch G-Cash Cellphone No. 2882<10 -digit Bank Branch G-Cash Cellphone Number> Important Notice Please use the cellphone number above whenever you make transactions through G-Cash -----------------------------------------Menu-Driven: To send payment using G-Cash Menu-Driven Interface: • Go to Globe Services (Globe Svcs+>my. Favorites>G-Cash>Send G-Cash • Enter your M-PIN and the 11 -digit of the bank-branch’s cellphone number • Wait for the confirmation message. . RBAP Confidential and Proprietary
Automated Posting Process (Second Phase) n Download/Capture text messages from the Cellphone using the interface program n Check the downloaded/captured messages in transaction format (cellphone number, name, amount, trace number, date and time) n Update the captured messages banking system n Create appropriate reports RBAP Confidential and Proprietary
Illustrated Financial Figures for Settlement with GXI (Cash Out) G-Xchange Settlement Account (Settlement Bank Account) - BPI Rural Bank Head Office (G-Cash Wallet) Date DR Beg Bal. (w/o pre-funding) 0 12/01. 2004 (Fund Transfer from Branch#1) 500 12/01/2004 (Cash Out Transfer initiated by GXchange) CR Date DR Beg Bal. XXXXX. XX 12/01/2004 Fund Transfer Debit (Cash Out to RB’s Settlement Account) 500 Balance = XXXXX. XX Balance (after Cash Out) = 0 Rural Bank Head Office ( Settlement Bank Account) - BPI Date DR CR Beg Balance 15, 000 12/01/2004 (Fund Transfer – from G-Xchange Settlement Account for Cash Out Transfer) 500 Balance (after Cash Out) = 15, 500 RBAP Confidential and Proprietary CR 500
These materials were made possible through the support provided by the U. S. Agency for International Development/Philippines under the terms of the contract no. 492 -C-00 -98 -0008 -00. The opinions expressed herein are those of the author(s) and do not necessarily reflect the views of the U. S. Agency for International Development. RBAP Confidential and Proprietary
CICO Workshop : Group Exercise Requirement: 1. CICO “over the counter” transaction documentation – including “KYC”; 2. CICO Branch Processing and documentation; 3. Pre-funding and Consolidation to H. O. Players: 1. Cash-in client 2. Cash-out client 3. Teller 4. Cashier 5. H. O. RBAP Confidential and Proprietary GXI PHONE: 0915 -9802178
Verification Process Flow Client’s Identity Established? KYC Client Accomplish Forms Bank Checks Forms & Requirements YES Deny Client’s Copy Clerical Processes Bank’s Records Actual. RBAP Confidential and G-Cash Process. Proprietary NO
Cash-In Process Flow NAC/Teller (Documentation) Client Accomplish Forms Bank Checks Forms & Requirements • Photocopies Forms • Prepares Receipts • Attach valid IDs to completed GCash Form • Documents to Authorized Officer NAC/Teller (Financial) Client’s Copy Bank’s Records • Receives payment from client • Validate & Post to Tellering System • Forwards to Cashier for P 2 P transaction Cashier • Performs P 2 P transaction RBAP Confidential and • Proprietary. Ask client to sign the confirmation
Cash-Out Process Flow NAC/Teller Photocopies Forms • Prepares Receipts • Attach valid IDs to completed GCash Form • Documents to Cashier Client Accomplish Forms Client’s Copy Bank Checks Forms & Requirements Cashier • • Give Bank’s G-Cash number to client Ask Client to perform P 2 P Ask the client to sign documents Forwards to Teller for Payout Teller • Bank’s Records Post & validate G-Cash transaction to the system RBAP Confidential and • Payouts (cash) to the client Proprietary
Скачать презентацию Rural Bankers Association of the Philippines Micro
762b86da8cc385110c2d2b1e57897d38.ppt