Benefits of using Paymaster

• Paymaster will eliminate the risk involved with transporting and manually packeting large amounts of cash.
• You can save time and resources spent on issuing, processing and posting of cheques or drafts and other payment orders.
• Benefit from the instant disbursement of payments.
• Eliminates the hassle of coming to the bank to hand over original documents such as submitting authorization letters, etc.
• Reduces the overall transaction costs.

Applying for Paymaster

• All you have to do is collect a Paymaster application from the Bank or download one from this web site, complete and submit it to the branch where you maintain your account.
• After your application is processed and registered, we will issue encryption software and a soft file containing the payment instructions format.

Using Paymaster

• After registering, you can simply complete the payment instructions format, encrypt and upload the file through your company Online Banking facility.
• You can check the status of any transaction, from anywhere at any time by simply login into Commercial Bank Online Banking.

Speed and safety

• Speed – Recipients having accounts with CBM will receive money instantly while others having accounts in other local Banks will get their accounts credited on the same day if the file is uploaded before 1.00pm. (Files uploaded after 1.00pm will be processed only on the next working day)
• Safety – 100% safety is ensured since the file is directly uploaded to Online Banking by the customers (No emails or printouts submission)

Fees

Registration is free of charge. For processing of files a nominal fee will be charged as given below: