Both a target balance (which is the balance to be left in the sub-account after the transfer) and a minimum amount to be transferred are specified in the Automated Collection agreement.
This makes the most of the repatriation system and avoids transferring small amounts and numerous cross-border transfers. The frequency at which repatriation transactions occur is also specified in the agreement. This may be a specific day of the week for weekly and fortnightly transfers and a specific day of the month for monthly transfers.

Automated Collection is only possible within the Fortis Bank network. The (sub)account is debited and the collecting account credited with same-day value.

Tailor-made solutions are possible since the frequency, target balance and minimum amount to be transferred can be specified for each (sub)account in a single agreement.

saves time and work: no manual work required;
streamlined: centralisation offers the best possible cash management at group level;
flexibility: fine-tuning of management by repatriation after application of a target balance and a minimum amount;
money-saving: no loss in value-dating;
automation: link to existing cash management packages, so that intercompany currant accounts can be updated automatically.

There is no set-up fee for Automated Collection. There is only a subscription charge, which varies according to the number of (sub)accounts.