Cash Management User Guide Ecuador - Treasury and Trade Solutions - Citi.com
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Cash Management
User Guide
Ecuador
Treasury and Trade Solutions
Cash Management User Guide – Ecuador – V2.0 - July 2020 1|Page
Table of Contents
I. Introduction .......................................................................................................................... 3
II. Payments Services ............................................................................................................... 4
A. Types of Payments Services in Ecuador ......................................................................4
B. Sending a Payment ......................................................................................................4
C. Paylink® Checks ...........................................................................................................4
D. Revocation and Suspension of Payments ....................................................................5
E. Receiving Direct Debits (Payments) .............................................................................6
F. Beneficiary Notification .................................................................................................6
G. Payments – Value Added Services...............................................................................6
III. Receivables Services ........................................................................................................... 8
A. Receiving a Payment....................................................................................................8
B. Direct Debit Collections ................................................................................................8
C. Interbank ACH Debit Collections ..................................................................................8
D. Identified Collections – Speed Collect ..........................................................................9
E. Citi® One Receivables ..................................................................................................9
F. Citi® Present and Pay ................................................................................................. 10
G. Citi® Smart Match ....................................................................................................... 11
IV. Liquidity Management Services ........................................................................................ 12
A. Zero Balance Account / Target Balance Account........................................................... 12
V. Manual Initiation of Instructions ........................................................................................ 13
VI. Infopool Service.................................................................................................................. 15
VII. Other Considerations ......................................................................................................... 16
VIII. Conclusion .......................................................................................................................... 17
Cash Management User Guide – Ecuador – V2.0 - July 2020 2|PageI. Introduction Thank you for choosing Citi’s Treasury and Trade Solutions (TTS) for your cash management business needs. The objective of this Cash Management User Guide (Guide) is to provide you with a manual containing detailed information of Services available to you and is to be read together with your Account terms and conditions. In this Guide, Citi and Bank may be used interchangeably. This Guide may be updated from time to time and any change will be communicated through our regular channels. Cash Management User Guide – Ecuador – V2.0 - July 2020 3|Page
II. Payments Services
A. Types of Payments Services in Ecuador
Book Transfers: Transfers of funds between Citi Accounts in Ecuador.
Domestic Funds Transfers: Transfers to accounts at other local Banks that are part of the
Central Bank’s Interbank Payment System (SPI). Orders may not be revoked or left incomplete
by the Bank or the Customer once they have been authorized in the platform. The time at
which the beneficiary receives a transaction depends on the beneficiary bank.
Cross Border Funds Transfers: Allow Customers to transfer funds to accounts in other
countries in different currencies. The process may involve the use of correspondent banks or
other intermediaries and may be subject of additional charges.
Checks: Negotiable paper-based instruments that can be passed from one person or entity to
another and exchanged for money. A check unconditionally instructs a bank to pay a specific
amount in a specific currency to a specified person, to a “bearer”, or to “cash”. The Bank, at
the Customer’s request, will issue books of pre-printed checks that can be used to initiate
payments to the Customers’ beneficiaries. Checkbooks will be enabled in the Bank’s system
24 hours after being received by the Customer. The Bank will hold checkbooks for pickup for
90 days, after which the Bank will destroy them.
B. Sending a Payment
1. The Customer sends a payment instruction to Citi, formatted to market standards and as
outlined at the time the payment service was implemented, via:
Citi e-banking channels, which include CitiDirect BE® and CitiConnect®,
A SWIFT interface, or
A manual request (refer to Section IV for details on manual transactions)
In certain cases, instructions given outside a given schedule will be processed the following
business day.
2. Citi forwards the instruction to the relevant payment system for further processing.
3. The payment system forwards the instruction to the beneficiary bank based on the locally
defined clearing cycle.
4. The beneficiary bank credits the beneficiary account on a given schedule depending on the
clearing cycle and type.
C. Paylink® Checks
Through the Bank’s electronic banking platform, the Customer can order the issuance of customer
checks or Paylink® checks to be picked up by beneficiaries, or their authorized representatives, at
the Bank’s tellers or network extension locations. If the Customer so requests, it can view the
checks that have been issued and signed by beneficiaries in the Digital Library application.
Cash Management User Guide – Ecuador – V2.0 - July 2020 4|PageIssuance and Processing of Paylink® Checks
1. The Customer communicates instructions to print and issue checks via the agreed Citi e-
banking channel.
2. Citi prints the checks, drawn on the Customer’s Account, with the facsimile signature(s) of
Bank’s officer(s). The officers whose signatures are printed on the checks are not responsible
for checks’ content, or for their use.
3. Citi makes the checks available for pickup by the payees as specified in the
Customer’s instruction. Checks that are not picked up within 90 days of the issuance date will
be returned to the Customer by the Bank.
4. Checks are deposited by the payee(s) and presented to Citi via local clearing arrangements.
Checks also can be presented and cashed over-the-counter at the Bank’s branch or network
extension locations.
5. Checks are validated and posted to the Customer’s Account for settlement and the funds are
then made available.
6. Citi will not make a payment if it considers a check or draft to be materially altered, forged,
counterfeit or stolen, or at the request of a competent judicial, quasi-judicial, regulatory,
government or supervisory authority.
7. If checks or drafts are lost, stolen, destroyed, stale or invalid, the Customer must inform Citi
in writing per the pre-agreed formats for stopping payments. Upon the Customer’s request,
Citi can either issue a new check/draft or credit the Customer’s Account. If the lost, misplaced,
or stolen check or draft is later found, the Customer is required to deliver the original check or
draft to Citi immediately.
The Customer can request to view, via the Bank’s online banking platform, checks that have been
issued and signed by the beneficiary.
D. Revocation and Suspension of Payments
Every payment instruction confirmed by the Customer and accepted by the Bank is final and
irrevocable as of the acceptance of said instruction by the Bank. The Bank will not incur any liability
to the Customer or to third parties with regard to this, whether said payment was or was not made.
Stop payment orders will be processed in the following method:
1. Before payment is issued, the Customer will send a stop payment order to the Bank using the
electronic banking platform provided by the Bank.
2. After payment is issued, the Customer will follow the Bank’s instructions for suspension of
payment in keeping with applicable laws and business practices and will send a request in
writing to the Bank.
Cash Management User Guide – Ecuador – V2.0 - July 2020 5|PageE. Receiving Direct Debits (Payments)
Citi, as the paying Bank for the Customer, supports incoming direct debit mandates received from
other participating financial institutions or partner banks.
1. If the direct debit payment is in compliance with the direct debit authorization, Citi processes
the instruction and debits the Customer's Account according to the Ecuadorian Central Bank
procedures for direct debits (SCI-Sistema de Cobros Interbancarios).
2. Citi communicates to the collecting financial institution via the clearing system or to partner
banks for positive or negative (rejects and returns) acknowledgements. In the event there are
insufficient funds in the Customer’s Account, Citi will not process the direct debit payment and
will send the unsuccessful debit status back to the direct debit payment system.
Citi will reverse any entry passed erroneously and debit or credit the relevant Account.
F. Beneficiary Notification
Beneficiary notifications can be used to inform or notify beneficiaries of the status and details of
payments to ease the reconciliation of transactions. Beneficiary notifications are emailed to the
respective beneficiaries, who can access payment details through a link to the Online Payment
Channel (OLPC).
The Customer, upon issuing instructions via the designated electronic banking system for
payments (checks or funds transfers) to its beneficiaries, may authorize the Bank to notify
beneficiaries it identifies who utilize the Online Payment Channel service of a new payment or
credit on their accounts. The Bank will provide the method (check or electronic funds transfer) and
the date on which the payment will be effected. This information will be available up to 3 months
from the time the payment is affected.
G. Payments – Value Added Services
Citi Payment Outlier Detection
Citi® Payment Outlier Detection is an informational tool that uses advanced analytics and
machine learning capabilities to help identify transactions relating to a Customers’ Accounts,
and/ or Accounts held by the Customer’s affiliates, subsidiaries and branches for which the
Customer is authorized to operate, that are materially different as compared to a Customer’s
Transaction History. When Citi Payment Outlier Detection is set to the online mode these
“outlier transactions” are flagged and actively held in a queue for further review and action by
the Customer’s designated payment reviewer(s) via Citi’s electronic banking platform, CitiDirect
BE®. If upon reviewing the transactions, the designated payment reviewer(s) determines that
the outlier transaction was unintended, the payment reviewer(s) will have the ability to cancel
the transaction, or approve and release it for further processing. Once the outlier transaction is
cancelled, it is not processed further by Citi’s payment processing systems.
Citi Payment Outlier Detection Features:
1. A unique baseline profile is generated for each Customer based on the transaction history of
their Accounts, and/ or Accounts held by the Customer’s affiliates, subsidiaries and branches
Cash Management User Guide – Ecuador – V2.0 - July 2020 6|Pagewhich the Customer is authorized to operate (the ‘Customers Transaction Data’), which
helps improve outlier detection accuracy.
2. Every transaction that is evaluated by Citi Payment Outlier Detection receives a risk score
(0-100) depending on how much it deviates from the relevant past payment history.
Customers can configure the Payment Outlier Detection Threshold that helps determine
which transactions are identified as outliers.
3. Once a potential outlier transaction is identified, the designated payment reviewer(s)
receives a notification and accesses the outlier review queue via CitiDirect BE.
4. Approved outliers refer to outlier transactions that the Customer’s designated payment
reviewer(s) has confirmed to be correct and approved for further processing. Rejected
outliers refer to outlier transactions that Customer’s designated payment reviewer(s) has
confirmed to be unintended.
5. In Online mode potential outlier transactions are flagged and actively held in a queue until
the transaction is actioned upon by the Customer’s designated payment reviewer(s), or until
the cut-off time (as described below) has been reached (in which case the outlier
transaction(s) are processed). Approved transactions are released and processed by Citi
while rejected transactions are cancelled.
6. In the Online mode, Customers can also set a cut-off time limit after which any held outlier
transactions will be automatically released for processing.
7. In Offline mode, potential outlier transactions are identified but not actively held in a queue or
otherwise stopped by Citi Payment Outlier Detection and continue to be processed.
Additionally, in the Offline mode, the machine learning algorithm of Citi Payment Outlier
Detection continues to allow the system to keep learning from the Customer’s Transaction
Data as well as from the responses provided by the designated payment reviewer(s), as part
of a continuous re-adjustment of the risk scoring routine based on the reviewer’s action.
8. Payment outlier reports are available via the CitiDirect BE Reports and Analytics function.
The execution of the payment transactions that are subject to Citi Payment Outlier Detection will
occur in accordance with Citi’s usual execution timeframes for the relevant payment type and
will be considered received by Citi as follows:
1. In respect of a transaction that is not flagged as an outlier, the time when Citi completes the
Citi Payment Outlier Detection process; and
2. In respect of a transaction that is flagged as an outlier the earlier of: (i) the time at which the
timeframe established by the Customer for the disposition of the outlier expires (if the
Customer takes no action), or (ii) the time when Citi receives approval from the Customer to
process the outlier.
It is important to note that Citi Outlier Payment Detection is an informational support tool and is
not guaranteed to detect or prevent fraud in any way.
Cash Management User Guide – Ecuador – V2.0 - July 2020 7|PageIII. Receivables Services
A. Receiving a Payment
1. The clearing system forwards the instruction to Citi based on the locally defined clearing cycle.
2. Citi credits the Account.
Any rejections or returns by Citi will be credited back to the payer account. The reason for the
return is communicated to the payer.
B. Direct Debit Collections
A direct debit collection is a financial transaction originated electronically by the Customer
instructing the Bank to withdraw funds from a payer’s bank account, whether via interbank or
book to book transactions.
The Bank will debit Customer's account after confirmation with the purpose of crediting third-party
accounts for services they provide or for periodic payments due. This authorization grants
authority to such third parties for the delivery of funds as indicated.
The Customer needs to instruct the Bank by letter, and to instruct the third-party service provider,
to suspend or terminate service for all the debits made by a third party. The Bank will proceed to
stop debits once notified by the service provider. It will take 3 business days to return the
instructions and complete the process. In cases of suspension or termination of utilities or public
services handled by a third party, the instruction must be sent to the third party for processing.
In the event that there are no funds in the account to make the debit(s) to the third party, the Bank
will not perform the debit.
C. Interbank ACH Debit Collections
Through this service, the Customer can access the Interbank Collection System (SCI), which
enables the collection of charge orders at participating financial institutions in Ecuador. The
Customer can instruct to the Bank to debit the payer’s account at the payer’s institution. The payer
must have previously authorized the Customer’s debit collection orders in writing. Collection
Orders confirmed by the Customer and accepted by the Bank are final and irrevocable.
The Customer will obtain, record and store written debit authorizations issued by its payers to
carry out collections via SCI. If proof or copies of these authorizations are required by the Bank,
the Customer must submit them within 24 hours of the request.
ACH debit collections may be reversed due to a claim by the payer, on orders of the Central Bank
of Ecuador. If for any reason there are not sufficient funds in any of the Customer’s accounts at
the Bank at the time that said return or reversal occurs, the Customer must reimburse the costs
incurred by the Bank to meet the obligation, including overdraft charges if applicable.
The Bank, according to the law, will withhold taxes at the source for each collection order that the
Customer identifies on the system. Each month the Bank will provide the Customer with a
Cash Management User Guide – Ecuador – V2.0 - July 2020 8|Pagewithholding tax statement that includes the withholding taxes for collection order transactions
executed during the month.
The payer’s bank may charge the payer additional charges or expenses.
Interbank ACH Debit Collection Process
1. The Customer shall generate collection orders through the Citi e-banking channel, either by
manual input or bulk files under the conditions determined by the Bank.
2. Citi validates that the transaction requests contain the information required to process them.
3. Citi communicates the ACH debit transactions to the receiving payer banks via the SCI
system.
4. Citi credits the funds to the Customer’s Account within the agreed time subject to the Bank’s
receipt of the funds.
5. The Customer will be able to view the charge or rejection in the Citi e-banking channel.
D. Identified Collections – Speed Collect
Speed Collect is a service through which the Bank accepts deposits from third parties on behalf
of the Customer so that it can make transaction details, including certain information about the
depositor/payer, available in the Citi e-banking channel.
The Customer shall ask the Bank’s authorized vendor to issue and deliver Speed Collect deposit
slips on which the details of the transaction, the depositor’s/payer’s information and reference
number will be listed. The deposit slips, which must conform to requirements provided by the
Bank, may be printed by the Customer prior to receiving authorization from the Bank, which will
verify compliance with the requirements. The cost of printing the Speed Collect deposit slips will
be covered directly by the Customer.
The Bank will assign up to 15 collection accounts (subaccounts) selected by the Customer for the
exclusive purpose of receiving deposits. Collection accounts will not generate any additional costs
for the Customer. The Bank will then concentrate funds from the subaccount(s) to the Customer’s
main account electronically and daily. There will not be a printed account statement for the
activities of collection subaccounts. The activity is available through the Citi e-banking channel.
E. Citi® One Receivables
Citi® One Receivables is a solution that provides a single integration with different collection
channels and payment methods to automate the reconciliation process of Company’s Invoices
and Account Receivables. This solution is available in several Latin American countries, allowing
the Company to process and automate the reconciliation of different collection flows.
The Company will be able to inform the Bank of the commercial debt or Invoices, in a designated
format agreed with the Client, whose transmission will be done through different models such as
Secure FTP (SFTP), batch or online using Web Service on any format directly from the ERP
systems. Each of the payers will be able to check their commercial debt or invoices, choose the
document(s) that they wish to pay and make the payment through the collection channels that are
connected to One Receivables. Each time a payer makes a payment, One Receivables will
Cash Management User Guide – Ecuador – V2.0 - July 2020 9|Pageautomatically sends the detail of the successful payment and the reconciled information to the
Company’s accounting system.
Citi® One Receivables includes three(3) main capabilities: a) Citi Active Networks allowing the
Companies to present invoices and debts in our Citi Network Extension Branches ; b) Enhanced
Direct Debit allowing the Companies to collect invoices through the ACH Direct Debit Network
when available in the country and c) Third Party Channels allowing the Company to connect to
One Receivables through other channels such as Third party Banks, Credit Cards Processor,
Mobile Wallets Company, etc. in order to automate the reconciliation of such channels.
Citi® One Receivables provides additional value to your Company’s Receivable process by
providing a series of pre-determined business rules. During the implementation process the
company defines the business rules to be implemented; the Business rules available in One
Receivables for configuration are:
1. Allow Passive Payments: The solution provides the option to select if the payer can input a
passive payment or not for each agreement.
2. Allow Reverse Transactions: The solution provides the option to select if the payer can input
a reverse transaction or not for each agreement.
3. Allow Partial Payment: The solution provides the option to select if the payer can input a partial
payment or not for each agreement.
4. Allow Overdue Payments: The solution provides the option to select if the payer can input an
overdue payment of within “X” days after the due date of the Invoice
5. Set Automatic Discounts an Interest for invoices: The solution provides the option to set
interest and/or discounts to the invoices based on the time range related to the due date of
the invoice.
6. Minimum and Maximum amounts for the Payment: The solution provides the option to set the
Minimum and Maximum amounts allowed for each transaction
7. Payers Binnacle: The solution provides the option to set a list of payers IDs that will be
authorized to make a deposit or payment.
8. Flexible Payment Instruments: The solution provides the option to set payment instruments
allowed for each collection channel.
Implementing Citi® One Receivables requires consultation with the Company’s IT and Accounts
Receivables/Billing Team so that that invoice presentment processes in place can be documented
and a project design proposal created. Implementation timelines range between 4 – 6 weeks
depending on the project scope.
F. Citi® Present and Pay
The Citi® Present and Pay solution enables clients to digitize the invoice presentment and
ascertain greater control over the billing process. Citi® Present and Pay ingests three key data
sets: (1) The Invoice file recording all payments expected (2) the customer master file and (3)
the Citi bank account statement detailing all payments received. These data sets are transmitted
through proprietary Citi Connectivity. The Invoice file and Customer master file are used to
Cash Management User Guide – Ecuador – V2.0 - July 2020 10 | P a g epresent invoices on pre-agreed client branded templates. These invoices are sent to the Citi Clients Customer through a Client branded Customer facing portal. The Citi Client’s Customer will have a number of options to view invoices, make a payment (specific options available by country) confirm intent to pay and register disputes. A User Interface (UI), provides Clients with an invoice presentment workflow tool, reporting, insights and analytics. Implementing Citi® Present and Pay requires consultation with a Clients IT and Accounts Receivables/Billing Team so that that invoice presentment processes in place can be documented and a project design proposal created. Implementation timelines range between 8 – 12 weeks depending on the project scope. G. Citi® Smart Match The Citi® Smart Match solution enables clients to automate the process of matching payments received against payments expected – a process known as cash application. Citi® Smart Match ingests three key data sets: (1) The Accounts Receivables file recording all payments expected (2) the Citi bank account statement detailing all payments received and (3) Remittance Information such as email, PDF, files, EDI etc. typically sent by the Citi Client’s Customers to help identify who made the payment and what that payment was for. These data sets are transmitted through proprietary Citi Connectivity (SFTP) and various different extractor engines in the case of remittance data. Match rate success and solution performance relies on the availability of these three data sets, and Citi cannot guarantee any results that may be achieved through the use of the Service. Artificial Intelligence aggregates the various different data sets to perform the matching, Machine Learning technologies enable the solution to learn data patterns and optimize the match rate success. A return file detailing all matched and unmatched payments is sent back to the client leveraging the same connectivity. This file is transmitted into a client’s ERP system to automatically close the payments expected that were successfully matched. A User Interface (UI), housed within CitiDirect BE ® provides clients with a cash application workflow tool, reporting, insights and analytics on solution performance. Implementing Citi® Smart Match requires consultation with a Clients IT and Accounts Receivables/Collections Team so that that cash application processes in place can be documented and a project design proposal created. Implementation timelines range between 8 – 12 weeks depending on the project scope. Citi® Smart Match leverages technology from US base fintech HighRadius Corporation who specialize in deploying account receivables technology solutions and are a formal partner of Citi. Cash Management User Guide – Ecuador – V2.0 - July 2020 11 | P a g e
IV. Liquidity Management Services
A. Zero Balance Account / Target Balance Account
Zero Balance Accounts consist of a periodic transfer of available funds in the Customer’s
current accounts (Subaccounts), to the current account designated (Concentration Account)
and vice versa, so that the Subaccounts register an available balance of zero at the end of
each banking day. If the funds transfer targets a value other than zero, the service is called
the Target Balance Account.
In the event that a Subaccount is overdrawn, the Concentration Account will be debited for the
funds necessary for the Subaccount(s) to be paid at the end of the same day and to be left
with an available balance of zero dollars. The Bank will reverse the credits to the accounts if
for some reason, whether due to a block ordered by the authorities or for insufficient funds,
these cannot be completed at the end of the day.
Cash Management User Guide – Ecuador – V2.0 - July 2020 12 | P a g eV. Manual Initiation of Instructions
Citi offers its Customers the ability to initiate manual instructions or Manually Initiated Funds Transfer
(MIFT) in the event of a contingency or other scenarios that may involve a manual instruction,
including amendment, recall or cancellation of previous instructions. Specific country regulations may
apply to MIFT.
To enable this capability, the Customer must complete the Global Manual Transaction Authorization
(GMTA) form, which supplements the Master Account and Service Terms (MAST), and any other
applicable account terms and conditions. The GMTA form must be signed by authorized signatories
as listed in the Customer’s Board Resolution or equivalent.
The GMTA form identifies those individuals who are authorized to initiate and confirm instructions by
manual means, on behalf of the Customer.
Customers who do not provide a GMTA form to the Bank, and therefore do not have MIFT payment
capability, understand that manual means of communication will not be available to them in the event
they are required for contingency or other applicable scenarios that may involve manual instructions.
Notes for Completing the GMTA Form
1. The manual instruction can be sent to Citi via either one of the following communication modes.
Please select the option(s) you want to activate in the GMTA form
• Letter
• CitiDirect BE®
Please contact your Citi representative for additional details
2. The initiators can be made available only with Option 1 in the GMTA form.
3. Please provide at least two call-back nominees. Citi recommends the nominees be located in the
same time zone as the country where the Customer’s Account is located.
4. When completing the GMTA form, the Customer should list all account numbers that are to be
enabled for manual processing on the GMTA Account Information Schedule.
Processing MIFT Instructions
In the event that the Customer requires the Bank to process a MIFT instruction:
1. The Customer sends a manual instruction, duly signed, to Citi via the selected communication
mode. For movement of funds from the Customer’s Account, Citi recommends using the Citi
standard manual payment form. The Customer can obtain a copy of such form by contacting the
Citi Service Desk.
2. Upon receipt of the manual instruction, the bank will carry out its internal verification, including but
not limited, review for completeness of the required details for processing, and verification of the
authorizer signature(s) against the ones provided in the Signature Card. The Customer should
Cash Management User Guide – Ecuador – V2.0 - July 2020 13 | P a g etake care when completing the Citi standard form for manual payment as it may be rejected if it
contains erasures/white-outs.
3. Citi may conduct an additional control by calling back the nominees included in the GMTA form,
with the exception of instructions submitted in the Pre-Defined Beneficiary List Form, once they
are initially set up. The call-back nominee and the initiator cannot be the same. Confirmation by
telephone may be recorded by Citi.
4. Citi processes the manual instruction once Citi determines that all the verifications are successful.
The processing of the instruction is subject to Citi’s internal procedures and conditions given that there
are alternative electronic channels to perform such instruction.
Updates to Authorizations
If information provided in the GMTA changes, the Customer must submit a new GMTA form, which
supersedes the previous form. Changes for the Bank should be informed of include, but are not limited
to:
Personal changes
Changes to a person’s name (e.g. due to change in marital status)
New telephone numbers (e.g. a new phone number, new area code, new city code)
New account number
Neither a GMTA form detailing just the update information alone, nor a letter or any other form of
document, will be accepted. This is necessary to assure the operational integrity of the manual
communication process.
The Customer must submit the name(s) of nominee(s) to be removed from the GMTA form in a. letter
on company letterhead and signed by authorized signatories as per the Customer’s Board Resolution
or equivalent. Again, in the interest of operational integrity, the Bank will request a new GMTA form
that will supersede all the previous GMTA forms if there are several signature deletions.
Cash Management User Guide – Ecuador – V2.0 - July 2020 14 | P a g eVI. Infopool Service
Infopool is a single interface to accounts with Citi and third-party banks. The Infopool Service allows
daily monitoring of the balances and transactions of accounts maintained in different banks, across
borders and currencies. Thus, Infopool Services consolidates information on the Customer’s bank
accounts and those of its subsidiaries on the books of Citi, Citigroup banks and/or on the books of
other banks (hereinafter Third Parties), through the CitiDirect BE® electronic banking system.
Citi will only consolidate information for the accounts indicated by the Customer, without making
adjustments to the information provided by the issuers of the information. As such, Citi is not
responsible for the content or preciseness of the information on the accounts.
The Customer will authorize Group or third-party service provider banks to provide to Citi the account
information, including personal data. It likewise authorizes Citi to receive this information and to
process it.
Cash Management User Guide – Ecuador – V2.0 - July 2020 15 | P a g eVII. Other Considerations
The use or requirement of services from the Bank, as well as services described in this manual, are
subject to tariffs detailed in the general commissions catalogue of the Bank, which is available at the
Bank’s web page. This tariffs and applicable taxes, fees, and expenses can be debited from any of
the Customer’s Accounts.
The Bank will provide the Customer with a telephone support system through CitiService, our
customer service, on working days between 8:00 a.m. and 6:00 p.m.
CitiDirect BE® is a secure electronic banking platform that can be accessed over the internet by users
who have been authorized by the company. They can do so from IP addresses abroad, retaining the
profile attributes provided at the time of their creation.
Cash Management User Guide – Ecuador – V2.0 - July 2020 16 | P a g eVIII. Conclusion
Thank you for choosing Citi Treasury and Trade Solutions (TTS) for your Cash Management
needs. Please feel free to contact your Citi Relationship Manager with any additional questions
that you have regarding TTS services.
Cash Management User Guide – Ecuador – V2.0 - July 2020 17 | P a g e
Treasury and Trade Solutions citi.com/treasuryandtradesolutions
© 2020 Citibank, N.A. All rights reserved.
Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and
registered throughout the world.Cash Management
Manual de Usuario
Ecuador
Cash Management User Guide – Ecuador – V2.0 - July 2020 18 | P a g e
Treasury and Trade Solutions
Treasury and Trade Solutions citi.com/treasuryandtradesolutions
© 2020 Citibank, N.A. All rights reserved.
Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and
registered throughout the world.Tabla de Contenido
I. Introducción........................................................................................................................ 20
II. Servicios de Pago............................................................................................................... 21
A. Tipos de Servicios de Pago en Ecuador ..................................................................... 21
B. Envío de un pago ....................................................................................................... 21
C. Cheques Paylink® ...................................................................................................... 22
D. Revocatoria y Suspensión de pagos .......................................................................... 22
E. Recepción de débitos directos (pagos) ....................................................................... 23
F. Notificación al beneficiario .......................................................................................... 23
G. Servicios de Pagos de Valor Agregado ...................................................................... 23
III. Servicios de Cobranza ....................................................................................................... 25
A. Recibir un Pago .......................................................................................................... 25
B. Cobranza de Débito Directo ....................................................................................... 25
C. Cobranzas Interbancarias........................................................................................... 25
D. Recaudaciones Identificadas– Speed Collect ............................................................. 26
E. Citi® One Receivables ................................................................................................ 27
F. Citi® Present and Pay ................................................................................................. 28
G. Citi® Smart Match ....................................................................................................... 28
IV. Servicio de Administración de Liquidez ........................................................................... 29
A. Cuenta Zero Balance / Cuenta Target Balance .......................................................... 29
V. Instrucciones manuales de pago ...................................................................................... 30
VI. Servicio Infopool ................................................................................................................ 32
VII. Otras Consideraciones ...................................................................................................... 33
VIII. Conclusión .......................................................................................................................... 34
Cash Management User Guide – Ecuador – V2.0 - July 2020 19 | P a g eI. Introducción Gracias por elegir los productos transaccionales de Citi (TTS) para atender las necesidades de Cash Management de su negocio. El objetivo de este Manual de Usuario es proporcionarle un manual que contenga información detallada de los servicios disponibles para usted, el mismo que debe leerse junto con los términos y condiciones de su Cuenta. Citi y el Banco pueden usar esta Guía indistintamente para actualizar periódicamente cualquier cambio que se comunicará a través de nuestros canales regulares. Cash Management User Guide – Ecuador – V2.0 - July 2020 20 | P a g e
II. Servicios de Pago
A. Tipos de Servicios de Pago en Ecuador
Transferencia de cuentas propias: Transferencias de fondos entre cuentas en Citi Ecuador
Transferencias Interbancarias: Transferencias a cuentas en otros bancos locales que forman
parte del Sistema de Pagos Interbancarios (SPI) del Banco Central del Ecuador. Una vez que
hayan sido autorizados en la plataforma, los pedidos no pueden ser anulados por el Banco o
el Cliente. El tiempo límite para acreditar los valores enviados pueden variar dependiendo de
los horarios de corte que disponga el beneficiario.
Transferencias de fondos al exterior: Permite a los clientes transferir fondos a cuentas en
otros países en diferentes monedas. El proceso puede involucrar el uso de bancos
corresponsales u otros intermediarios y puede estar sujeto a cargos adicionales.
Cheques: instrumentos en papel, los mismos que pueden pasar de una persona o entidad a
otra e intercambiarse por dinero. Un cheque instruye incondicionalmente a un banco a pagar
un monto específico en una moneda específica a una persona específica, a un "portador" o a
"efectivo. El Banco, a solicitud del Cliente, emitirá formularios de cheques pre impresos que
se pueden utilizar para iniciar pagos a los beneficiarios de los Clientes. Lass chequeras se
habilitarán en el sistema del Banco 24 horas después de ser recibidos por el Cliente. El Banco
mantendrá las chequeras para su retiro durante 90 días, luego de lo cual el Banco los
destruirá.
B. Envío de un pago
1. El cliente envía una instrucción de pago a Citi, con un formato de acuerdo a los estándares
del mercado y como se describió en el momento en que se implementó el servicio de pago,
a través de:
Canales Citi e-Banking, los mismos que incluyen CitiDirect BE® y CitiConnect®,
Interface SWIFT, o
Una solicitud manual (consulte la Sección IV para obtener detalles sobre las transacciones
manuales)
En ciertos casos, las instrucciones dadas fuera de un horario determinado serán procesadas
el siguiente día hábil.
2. Citi reenvía las instrucciones al sistema de pago correspondiente para su posterior
procesamiento.
3. El sistema de pago reenvía las instrucciones al banco beneficiario en función del ciclo de
compensación definido localmente.
4. El banco beneficiario acredita a la cuenta del beneficiario en un horario determinado según el
ciclo de compensación y el tipo.
Cash Management User Guide – Ecuador – V2.0 - July 2020 21 | P a g eC. Cheques Paylink®
A través de la plataforma de banca electrónica, el Cliente puede ordenar la emisión de cheques
o cheques Paylink® para ser recogidos por los beneficiarios, o sus representantes autorizados,
en los cajeros del Banco o en las agencias designadas de la red extendida del Banco. Si el cliente
lo solicita, puede ver los cheques emitidos y firmados por los beneficiarios en la aplicación
Biblioteca Digital.
Asegurar y procesar Cheques Paylink
1. El cliente comunica instrucciones para imprimir y emitir cheques a través del canal de banca
electrónica acordado.
2. Citi imprime los cheques establecidos en la Cuenta del Cliente, con las firmas de los
funcionarios del Banco. Los oficiales cuyas firmas están impresas en los cheques no son
responsables del contenido de los cheques, ni de su uso.
3. Citi pone a disposición los cheques para ser recogidos por los beneficiarios según lo
especificado en las instrucciones del Cliente. Los cheques que no se han recogido dentro de
90 días posteriores a la fecha de emisión serán devueltos al Cliente por el Banco.
4. Los cheques son depositados por el beneficiario y se presentan a Citi mediante la cámara de
compensación. Los cheques también se pueden presentar y cobrar en el mostrador en
sucursales u oficinas de la red extendida del Banco.
5. Los cheques son validados y publicados en la Cuenta del Cliente para su liquidación una vez
que los fondos han sido puestos disponibles.
6. Citi no realizará el pago si considera que un cheque o giro ha sido alterado, falsificado, robado,
o a petición de una autoridad judicial, cuasi judicial, regulatoria, gubernamental o de
supervisión competente.
7. Si los cheques o giros se pierden, son robados, destruidos, caducados o inválidos, el Cliente
debe informar a Citi por escrito según los formatos acordados previamente para detener el
pago. A pedido del Cliente, Citi puede emitir un nuevo cheque o acreditar la Cuenta del
Cliente. Si posteriormente se encuentra el cheque perdido, extraviado o robado, el Cliente
debe entregar el cheque original a Citi inmediatamente.
El Cliente puede solicitar ver, a través de la plataforma bancaria en línea del Banco, los
cheques emitidos y firmados por el beneficiario.
D. Revocatoria y Suspensión de pagos
Toda instrucción de pago confirmada por el Cliente y aceptada por el Banco es definitiva e
irrevocable a partir de la aceptación de dichas instrucciones por parte del Banco. El Banco no
incurrirá en ninguna responsabilidad ante el Cliente ni ante terceros con respecto a esto, ya sea
que dicho pago haya sido realizado o no.
Las órdenes de suspensión de pago se procesarán en el siguiente método:
Cash Management User Guide – Ecuador – V2.0 - July 2020 22 | P a g e1. Antes de emitir el pago, el Cliente enviará una orden de suspensión utilizando la plataforma
de banca electrónica proporcionada por el Banco.
2. Después que se haya emitido el pago, el Cliente seguirá las instrucciones del Banco para
las suspensiones de pago de acuerdo con las leyes y prácticas comerciales aplicables y
enviará una solicitud por escrito al Banco.
E. Recepción de débitos directos (pagos)
Citi, como el Banco pagador del Cliente, soporta los débitos directos recibidos de otras
instituciones financieras participantes o bancos asociados.
1. Si el pago de débito directo cumple con la autorización de débito, Citi procesa las
instrucciones y debita la Cuenta del Cliente de acuerdo con los procedimientos del Banco
Central del Ecuador para débitos directos (SCI- Sistema de Cobros Interbancarios).
2. Citi se comunica con la institución financiera recaudadora a través del sistema de
compensación o con los bancos del sistema financiero para conocer sobre rechazos o
retornos positivos o negativos. En el caso de que no haya fondos suficientes en la Cuenta
del Cliente, Citi no procesará el pago de débito directo y enviará el estado de débito fallido
nuevamente al sistema de pago de débito directo.
Citi revertirá cualquier entrada aprobada erróneamente y debitará o acreditará la Cuenta
relevante.
F. Notificación al beneficiario
Las notificaciones a los beneficiarios se pueden utilizar para informar o notificar a los beneficiarios
del estado y los detalles de los pagos para facilitar la conciliación de las transacciones. Las
notificaciones a los beneficiarios se envían por correo electrónico a los beneficiarios respectivos,
que pueden acceder a los detalles de pago a través del enlace a Online Payment Channel
(OLPC).
El Cliente, al emitir instrucciones a través del sistema bancario electrónico designado para pagos
(cheques o transferencias de fondos) a sus beneficiarios, puede autorizar al Banco a notificar a
los beneficiarios que identifica que utilizan Online Payment Channel del nuevo pago o crédito en
sus cuentas. El Banco proporcionará el método (cheque o transferencia electrónica de fondos) y
la fecha en que se efectuará el pago. Esta información estará disponible hasta 3 meses desde el
momento en que se ha efectuado el pago.
G. Servicios de Pagos de Valor Agregado
Citi Payments Outlier Detection
Citi® Payment Outlier Detection es una herramienta de información que utiliza análisis avanzado
y aprendizaje automático para identificar transacciones que son sustancialmente diferentes en
comparación a la historia de pagos del Cliente. Estas “transacciones atípicas” son destacadas y
retenidas en una lista para adicional revisión y toma de medidas por quien es designado como el
revisor(es) de pagos del Cliente a través de la plataforma bancaria electrónica de Citi, CitiDirect
BE®. Si cuando se revisan las transacciones, el revisor de pagos determina que la transacción
atípica era sin intención, el revisor tendrá la posibilidad de cancelar la misma, o aprobarla y
Cash Management User Guide – Ecuador – V2.0 - July 2020 23 | P a g eliberarla para ser procesada. Una vez que la transacción atípica es cancelada, esta no es
procesada en más detalle por los sistemas de procesamiento de pagos de Citi.
Características Citi Payment Outlier Detection:
1. Un único perfil básico es generado para cada cliente en base a sus transacciones
históricas que ayuda a mejorar la precisión para detectar situaciones atípicas.
2. Cada transacción que es evaluada por Citi Payment Outlier Detection recibe un
puntaje de riesgo (0-100) dependiendo en cuanto se desvía de la historia de pagos
pasada del Cliente. Los Clientes pueden configurar Payment Outlier Detection
Threshold que ayuda a determinar cuáles pagos son identificados como atípicos.
3. Una vez que una potencial transacción atípica es identificada, aquel designado como
revisor recibe una notificación y accede a la lista de revisión de situaciones atípicas a
través de CitiDirect BE.
4. Situaciones atípicas aprobadas hacen referencia a transacciones atípicas
confirmadas como correctas y aprobadas para próspero procesamiento por quien fue
designado como revisor de pagos del Cliente. Situaciones atípicas rechazadas hacen
referencia a las transacciones atípicas que deben ser confirmadas como no
intencionales por quien fue designado como revisor de pagos del Cliente.
5. En modo Offline (descripto debajo) potenciales transacciones atípicas son destacadas
y retenidas en una lista hasta que la transacción sea accionada por quien fue
designado como revisor de pagos del Cliente, o hasta el tiempo de corte (como es
descripto debajo) haya sido alcanzado (en cuyo caso la(s) transacción(es) son
procesadas). Las transacciones aprobadas son liberadas y procesadas por Citi
mientras que las transacciones rechazadas son canceladas.
6. En el modo Online, los Clientes también puedes determinar un tiempo de corte
después del cual cualquier transacción atípica retenida será liberada para
procesamiento.
7. En modo Offline, las potenciales transacciones atípicas son identificadas, pero no
activamente retenidas por Citi Payment Outlier Detection y continúan a ser
procesadas. Adicionalmente, en el modo desconexión, el algoritmo de Aprendizaje
Automático de Citi Payment Outlier Detection continúa permitiendo que el sistema
aprenda de la información de transacciones del Cliente así también de las respuestas
provistas por aquel designado como revisor de pagos, como parte de un continuo re-
ajuste de la rutina de puntaje de riesgo sobre las acciones del revisor.
8. Pagos atípicos reportados están disponibles para el cliente a través de la función de
Reportes y Analíticos en CitiDirect BE.
Cash Management User Guide – Ecuador – V2.0 - July 2020 24 | P a g eIII. Servicios de Cobranza
A. Recibir un Pago
1. El sistema de compensación reenvía las instrucciones a Citi en función del ciclo de
compensación definido localmente.
2. Citi acredita la cuenta.
Cualquier rechazo o devolución por parte de Citi se acreditará nuevamente a la cuenta del
pagador. El motivo de la devolución se comunica al pagador.
B. Cobranza de Débito Directo
Un cobro con débito directo es una transacción financiera originada electrónicamente por el
Cliente que ordena al Banco debitar fondos de la cuenta bancaria de un tercero, ya sea a través
de transacciones interbancarias o de cuenta a cuenta de un mismo banco.
El Cliente puede autorizar al Banco a debitar sus cuentas con el fin de acreditar a cuentas de
terceros los servicios que prestan o los pagos periódicos adeudados. Esta autorización otorga
autoridad a dichos terceros para la entrega de fondos según se indique.
El Cliente debe instruir al Banco mediante carta, y al tercero, proveedor de servicios, para que
suspenda o cancele el servicio por todos los débitos realizados por un tercero. El Banco
procederá a detener los débitos una vez notificado por el proveedor del servicio. Tomará 3 días
hábiles devolver las instrucciones y completar el proceso. En casos de suspensión o finalización
de servicios o servicios públicos manejados por un tercero, la instrucción debe enviarse a un
tercero para su procesamiento.
En el caso de que no haya fondos en la cuenta para hacer el (los) débito (s) al tercero, el Banco
no realizará el débito.
C. Cobranzas Interbancarias
A través de este servicio, el Cliente puede acceder al Sistema de Cobranza Interbancario (SCI),
que permite el cobro de los pedidos con cargo en las instituciones financieras participantes en
Ecuador. El Cliente puede instruir al Banco para que debite la cuenta del pagador en la institución
del pagador. El pagador debe haber autorizado previamente el débito de su cuenta al Cliente por
escrito, que el Cliente debe mantener en archivo. Las Órdenes de Cobranza confirmadas por el
Cliente y aceptadas por el Banco son definitivas e irrevocables.
El Cliente obtendrá, registrará y almacenará las autorizaciones de débito por escrito emitidas por
los pagadores para llevar a cabo las cobranzas a través de SCI. Si el Banco exige pruebas o
copias de estas autorizaciones, el Cliente debe enviarlas dentro de las 24 horas posteriores a la
solicitud.
Las cobranzas de débito de ACH pueden revertirse debido a un reclamo del pagador, por órdenes
del Banco Central del Ecuador. Si por alguna razón no hay fondos suficientes en cualquiera de
las cuentas del Cliente en el Banco en el momento en que se produce dicha devolución, el Cliente
debe reembolsar los costos en que incurra el Banco para cumplir con la obligación, incluidos los
cargos por sobregiro, si corresponde.
Cash Management User Guide – Ecuador – V2.0 - July 2020 25 | P a g eEl Banco, de conformidad con la ley, retendrá el impuesto en la fuente de cada orden de cobro
que el Cliente registre en el sistema. Cada mes, el Banco le proporcionará al cliente un
comprobante de retención del impuesto que incluye lo impuesto retenido para las transacciones
de orden de cobranza ejecutadas durante el mes.
El banco del pagador puede cobrarle al pagador cargos o gastos adicionales.
Proceso de Cobranzas Interbancarias
El Cliente generará pedidos de cobranza a través del canal de banca electrónica de Citi, ya sea
mediante ingreso manual o archivos masivos conforme a las condiciones determinadas por el
Banco.
1. El cliente enviará ordenes de cobro mediante la plataforma electrónica de Citi ya sea
por ingreso manual o carga de archivos masivos bajo las condiciones determinadas
por el banco.
2. Citi valida que las solicitudes de transacción contengan la información requerida para
procesarlas.
3. Citi comunica las transacciones de débito de ACH a los bancos pagadores receptores
a través del sistema SCI.
4. Citi acredita los fondos a la Cuenta del Cliente dentro del tiempo acordado sujeto a
que el Banco reciba los fondos.
5. El Cliente podrá ver el cargo o el rechazo en el canal de banca electrónica de Citi.
D. Recaudaciones Identificadas– Speed Collect
Speed Collect es un servicio mediante el cual el Banco acepta depósitos de terceros en nombre
del Cliente para que pueda realizar los detalles de la transacción, incluida cierta información sobre
el depositante / pagador, disponible en el canal de banca electrónica de Citi.
El Cliente solicitará al proveedor autorizado del Banco que emita y entregue los recibos de
depósito de Speed Collect en los que se establecerán los detalles de la transacción, la
información del depositante / pagador y el número de referencia. Los recibos de depósito, que
deben cumplir con los requisitos proporcionados por el Banco, pueden ser impresos por el Cliente
antes de recibir la autorización del Banco, lo que verificará el cumplimiento de los requisitos. El
costo de la impresión de los recibos de depósito de Speed Collect será cubierto directamente por
el Cliente.
El Banco asignará hasta 15 cuentas (subcuentas) seleccionadas por el Cliente con el exclusivo
propósito de recibir depósitos. Las cuentas de cobro no generarán ningún costo adicional para el
Cliente. El Banco concentrará los fondos de la(s) subcuenta(s) en la cuenta principal del Cliente
electrónica y diariamente. No habrá un estado de cuenta impreso para las actividades de las
subcuentas de cobranza. La información estará disponible a través del canal de banca electrónica
de Citi.
Cash Management User Guide – Ecuador – V2.0 - July 2020 26 | P a g eYou can also read
