Collection via Virtual Account (VA): MSB collects funds under the customer’s authorization into a payment account opened by the customer at MSB by linking the customer’s master account number with a set of virtual account numbers. Specifically:

• Each virtual account number corresponds to one service user, one contract, one invoice, or one receivable of the customer.
• The master account is a dedicated collection current account opened by the customer at MSB to receive funds credited to the virtual account numbers.

Through precise identification of counterparties, payment items, and additional information (up to four levels of information/transaction identification), this solution enables customers to reduce manpower, costs, and processing time for transaction tracking and receivable reconciliation, thereby optimizing cash flow management.

System-integrated Disbursement Solution

• No requirement for beneficiaries to open an account at MSB
• No restriction on refund timeline
• Reduced risk of loss/errors compared to cash payments
• Disbursement executed 24/7 based on customer demand
• Customer reconciliation performed automatically and efficiently
• MSB provides advisory/design of additional features as required: batch payments, scheduled periodic payments, etc.