Overview
Pay
Collect
Monitor
Optimise
Lorem ipsum dolor amet sit
MCB Cash and Business Services team
The payment landscape is evolving continually, making effective cash management key to ensuring that businesses maintain a firm grip on their financial pulse. Smart cash management strategies enable companies to succeed despite challenging macroeconomic headwinds.
The MCB Cash and Business Services team remains committed to providing the best cash management solutions to help your business thrive in today’s dynamic economic arena. Our sophisticated suite of digital products and services offers several benefits, including;
Reduced transaction costs and bank fees on digital channels
Enhanced customer experience through innovative technologies
Extended cut-off time for cross-border payments
Timely remittances both on inward and outward transfers
Instant cash flow reporting to facilitate informed decisionmaking
Our tools will help you optimise your cash position, reduce costs and enhance your liquidity. We believe their adoption is a strategic imperative that will have far-reaching implications for your organisation. Furthermore, our clients can leverage MCB’s position as a platinum member of SWIFT to benefit from the network’s extensive features and state-of-the-art solutions.
While looking forward to setting even higher standards, MCB reaffirms its pledge to provide its customers with the most innovative and customer-centric solutions to remain at the forefront of digital finance.
Cash Management Solutions
Pay
- Domestic Payments
- Cross Border Payments
- Bulk Payment
- Standing Orders
- Cards (Corporate)
- Internet Banking & SmartApprove
- Host To Host Connectivity
- SWIFT Connectivity
- Internet Banking Pro (IB Pro)
Collect
- Direct Debit
- Centralised Direct Debit
- Bill Presentment
- E-Commerce
- Point of Sale Solutions
- Cash Deposit Solutions
Monitor
- E-Statements & Advices
- SWIFT MT 940/942
- SWIFT GPI Tracker
Optimise
- Account Sweep
- FX Services
- Fixed Deposits
- Securities Services
Your success is our success.
Together, let’s go digital.
What our customer said about MCB Cash Management Solutions?
“At IBL’s Group Treasury, our role is to source liquidity and optimise cash flows while managing financial risks. With over 300 companies across multiple jurisdictions, complexity is inevitable, which is why since the early 2000s we’ve relied on the bank’s digital channels to manage it effectively. In 2017, when our supermarket chain Winners faced a sharp increase in transactions and our Treasury began decentralising payment functions, the bank partnered with us to implement host-to-host connectivity — making payments seamless, instant, and significantly reducing manual interventions. It was a real paradigm shift for us.”
Yannick Ulcoq, Head of Treasury - IBL Ltd
“The bank’s internet banking platform scores full marks — intuitive, seamless, and secure. With international transfers, immediate access to SWIFT copies is a game changer, while two-factor authentication ensures approvals are both safe and effortless. Despite its size, the bank continues to deliver innovative solutions with clients and end-users always in mind.”
Roshan Nathoo, Chairman - Fiduciary of Rogers Capital Ltd
Make the most of our digital solutions crafted to streamline your payment process for optimal simplicity.
What’s in for you?
Banking 24/7, wherever you are, in just a few clicks while enjoying our suite of services at competitive rates.
Settle payments in just a few clicks, anytime and anywhere
- Cross border payments
- Domestic payments
- Batches – bulk payment and direct debit file acceptance
- Credit card transfers
- Creation of templates
- Creation of contacts
- Setting up / amendment of standing orders
View all your accounts at a glance and more
- View all transactions executed on Internet Banking Pro and their relevant status.
- Retrieve daily, weekly or monthly electronic statements (PDF) or lists of transactions (CSV).
- Graphical representation of account balances.
- View loans, Trade Finance facilities and Fixed Deposit accounts.
Enhanced offerings!
- Self-service capability - Self registration, unlock, reset of password.
- Deal ticket integration for cross currency payments.
- “Alert to new Beneficiaries” for international transfers.
- Bulk authorisation across companies.
- GPI Tracker for International transfers.
- Future dated transactions.
- Extended Cut-Off Time for Cross-Border Payments*
* Conditions apply
SmartApprove App - The new authentication tool for authorisation
- Two-factor authentication
- Transaction signing simplified
- Instant in-app notifications for pending approvals
- Summary of pending transactions per company
- Dashboard with status of transactions
Global Settlement Reach
Leverage MCB’s vast global network to efficiently manage and monitor your cross-border payments, enhancing cost-effectiveness through our secure digital platforms
Our top corridors
Settlement capabilities in more than 30 currencies including 17 African corridors.
Key benefits*
- Seamless currency conversion across over 30 currencies.
- Swift delivery with same-day value for selected currencies.
- Extended cut-off time (20:30) via digital channels for increased convenience.
- SWIFT lines operational even during unplanned holidays.
- Efficient straight-through processing available through digital platforms.
- Instant access to SWIFT advisory services.
- Real-time tracking and status updates via SWIFT GPI Tracker.
- Bulk Foreign Currency Payment solutions for streamlined transactions.
*Terms and conditions apply. For more information, please contact [email protected].
Host-to-Host (H2H) Connectivity
An integrated payment solution based on the Secured File Transfer Protocol (SFTP), with your partner bank to build transactional efficiency.
What's in for you?
Enjoy digital banking at its finest by linking your Enterprise Resource Planning (ERP) system with our Host-to-Host Solution to benefit from the convenience of direct file transfer.
To reinforce data protection and streamline file processing, MCB has made a significant upgrade to its Host-to-Host (H2H) platform by transitioning from the traditional checksum method to Pretty Good Privacy (PGP) encryption. This move ensures that sensitive financial data is even more securely transmitted and processed, further aligning with MCB's commitment to operational excellence.”
Key Features
- Leverage on the team's expertise for the automation of payment and collection flow
- This solution enables an automatic reconciliation of statements with integrated accounting systems
- Keep a complete control on your payment initiation and authorization policy
- Capitalize on its low cost integration
- The H2H connectivity is not limited to a specific ERP system
A dedicated MCB team will be at your disposal for a smooth onboarding process!
Leverage the SWIFT network’s efficient payment ecosystem for seamless inward and outward international transfers from/to various banks and countries and receive statement reports, in the proprietary format (MT) or in the global standardised ISO (MX) format.
Features of a SWIFT Connectivity
- Straight-through payment transactions and reconciliation
- Global visibility of transactions at different process stages
MCB SWIFT Service Bureau
MCB SWIFT service bureau, certified and audited by SWIFT and compliant with SWIFT cyber-security standards, offers SWIFT connectivity to corporates, banks and financial institutions cost-effectively.
What’s in for you?
- Guaranteed service availability at 99.3% and competitive pricing
- Dedicated assistance for efficient & fast registration
- No need for expensive infrastructure, system installation/maintenance and specialized IT & security personnel
- Guidance on compliance to SWIFT Customer Security Programme (CSP)
- SWIFT tailored end-user training
- Access to the SWIFT converter tool (MT to MX)
- Relationship Management Application (RMA)
- Hassle-free mobile security via two factor authentication soft token
- MCB’s standard support includes both help desk & personalized assistance
Complementary Services of the SWIFT Services Bureau
- Handling of highly complex tasks such as system upgrades and maintenance
- Ordering of all relevant SWIFT services and products on behalf of the SWIFT user
- Archiving of SWIFT messages for a maximum period of seven years
- Anti-money laundering filtering solution
- Duplicate detection solution
Key Features
- Worldwide acceptance (Visa & MasterCard)
- Several nominee cardholders on a single corporate account
- A comprehensive annual multi-trip travel insurance for Corporate card – caters for flight cancellation, emergency medical expenses, baggage loss and assistance during epidemic and pandemic context.
- Up to 30 days’ interest free credit
- Monthly online card statements
- Easy access to both your corporate main account and nominee cards through our Internet banking facility
- A 24-hour Help Desk
Your card to worldwide business
Designed for global international companies, the Mastercard FCY credit card allows you to manage expenses in multiple currencies without the burden of conversion fees or fluctuating exchange rates.
- Available in GBP, USD, EUR and ZAR
- Ideal for your business expenses and to show the substance of local activities to the FSC
- Contactless payments enabled
- Repayment in full amount at the end of each month
- Balance due settled in full within 3 days from statement date
We look for better ways to help you manage costs in fuel and maintenance while ensuring proper monitoring of drivers’ spending limits and patterns as well as enhancing your fleet’s performance.
Key Features
- Register one vehicle per card to better manage your fleet’s running costs
- Monitor your vehicles’ fuel consumption, maintenance and performance
- No need for PIN or signature
We provide you with a smart and reliable way to free up your time to devote to more productive activities by setting up standing orders at a frequency and under conditions specified by yourself. Transfer a fixed amount of money, on a regular basis to a beneficiary holding an account at the MCB, another local bank or abroad with complete peace of mind.
What’s in for you?
- Overseas standing orders available
- Avoid late payment
- Order, manage and monitor the status of your standing orders on Internet banking
- No termination of standing order agreement in case of insufficient funds until three consecutive failures
Select from a diverse array of solutions that empower you to more effectively handle your receivables.
Card Acceptance: A fast, flexible and convenient payment acceptance through POS terminals for your domestic and cross-border needs, ensuring utmost security for the best customer and merchant experience.
QR Acceptance: As a Juice merchant, benefit from an enhanced technology for receivables in Mauritius only.
Card Acceptance
Key Features
- Accept all major credit, prepaid and debit cards
- Dedicated 24/7 customer support
- View your merchant statements online
- No upfront costs
- Latest technology to minimize the risk of fraud
- Wireless POS systems and till-integration available
Wide Card Acceptance: American Express, Mastercard, Maestro, Visa, Diners, Discover and China UnionPay
QR Acceptance
Key Features
- Merchant SMS confirmation to acknowledge successful Juice payment received
- Availability of a daily sales dashboard
- Query for sales transactions in real time
- Data export on Microsoft Excel
You can now even accept payment on your ecommerce website via MCB Juice
Innovative & Secure Features for Card Acceptance
Dynamic Currency Conversion: Holders of foreign cards can pay in their card currency while merchant is settled in MUR.
Multi Currency: Transactions can be settled in major foreign currencies on both the merchant and customer accounts.
Our e-commerce specialists work alongside you to understand your unique requirements, build a seamless web-based customer experience and help your business grow exponentially through our flexible solutions. A convenient payment option leading to a global exposure of your brand.
Key Features
- A world-class payment gateway powered by Mastercard and used in +190 countries in the World
- A payment link solution with various features such as split payment, recurring transactions and tokenisation
- 3D Secure 2.0 friendly gateway to protect business and customers against unauthorized transactions
- The platform is PCI compliant (Payment Card Industry Data Security Standard)
- Major card brands accepted (Visa, MasterCard, American Express, Diners, UPI)
- Support all major currencies and settlement is done in MUR, USD, GBP, EUR, JPY and ZAR
- Seamless integration with some plugins for certain website builders
- Access to a merchant back-end interface to view transactions in real time and perform refund or cancellation
- A round-the-clock dedicated fraud monitoring team
- No set-up fee
- Merchant commission per transaction
Centralised Direct Debit (CDD)
A smart way to collect your receivables across all banks.
The Centralised Direct Debit is a four-party arrangement for collecting money involving the payer, the originator, and their respective banks. CDD allows you, as an Originator, to submit all claims (MCB & Other Local Banks) to MCB only. Your bank account will then be credited irrespective of where your debtor’s bank.
What’s in for you?
Capitalise on the bank’s experience and technical expertise for the collection of your funds across banks. The bank is currently assisting several clients from end to end in this digital transformation.
Key Features
- One single point of connectivity
- Collection of receivables within MCB network and other local banks
- Standard format for all mandates and claim files across banks
- Fully digitalised solution via the Host-to-host connectivity
- Relevant reports (Success/Failure file) for automated reconciliation
Traditional Direct Debit
Direct Debit is a smooth, secure and convenient collection method that allows companies to automatically collect recurring payments.
- No more delay in payments
- Reduced admin time
- Decreased payment failures
- Improved cashflow
Money Processing
The Money Processing solution consists of the transportation and handling of funds by service providers.
Key Features
- Traceability, audit trail and insurance cover
- No waiting time when depositing large amount of cash
- Your account is credited on the next working day
- Reduced risk associated with movement of funds
Smart Safe
The Smart Safe is an integrated cash deposit solution for corporate customers. It enables our corporates to deposit their cash transactions in an automated safe at their point of sales and their accounts to be credited remotely.
Key Features
- Automated count and electronic transmission of cash amounts to bank accounts
- Greater security when handling cash
- Significant time savings
- Faster access to funds, near real-time account crediting
MCB will introduce you to its reliable partners and accompany you in this venture.
There are no charges claimed by MCB for this service, only your chosen service provider’s fees will apply.
Bill Presentment
A convenient & reliable solution to receive bill settlements.
At MCB, our bill presentment facility provides a secure, user-convenient way of receiving bill payments round-the-clock via MCB Juice.
Key Features
- Any corporate can register as biller
- No pre-registration needed for payers (i.e. your customers paying you)
- Any MCB client can pay third-party bills
- Reporting lists can be easily extracted for reconciliation
Choose from a diverse set of solutions that have been designed to meet your liquidity management needs.
Global Balance
The Global Balance mode automatically puts at your disposal for drawings a net aggregate available balance based on all your accounts.
Account Sweep Services
Automate your cash flow with Account Sweep, which reallocates funds between your MCB accounts to maintain predefined balances (fixed, minimum, or maximum) at day-end. Cash Management Centralisation thus simplifies liquidity management and enhances reconciliation efficiency.
- Target accounts reach a predefined fixed, minimum, or maximum balance by end of day
- All accounts must be MCB accounts, in the same currency, and belong to the same entity
- Simplify liquidity management with fully automated fund allocation and consolidation
- Simplified reconciliation and improve financial control via centralizing cash management
Currency Solutions: Access to range of FX Instruments
Our FX teams bring together expertise and unique market insight to provide tailored FX solutions. Actively trading in over 150 currency pairs globally, we offer our clients access to a wide range of currencies, with a particular focus on G10 currencies, emerging markets, African and other exotic currencies.
FX Spots
Exchange currencies at current market rates on designated spot dates.
FX Forwards
Lock in future currency exchange rates today.
FX Swaps
Trade currencies now with a reverse trade at a future date.
Non Deliverable Forwards (NDFs)
Settle forward contracts in cash without currency delivery.
FX Options
Secure the right to exchange currencies at predetermined rates.
Unearthing yield in local and international markets
MCB offers term or demand deposits in Rupee and major foreign currencies at attractive rates. As the leading market maker in Rupee-denominated Money Markets and Fixed Income products, MCB plays a key role in the local financial markets. As a primary dealer, we trade Government of Mauritius securities, provide access to local corporate bonds, and trade sovereign and corporate bonds.
Deposits in MUR and Major Foreign Currencies
Earn attractive rates on term or demand deposits in Rupee and major foreign currencies.
Government Bills and Bonds
Trade Government of Mauritius securities and bonds in Rupee, sovereign bonds of G10 markets, and of selected emerging markets
Corporate Bonds
Access corporate bonds in both local and foreign currencies offering diversified investment opportunities.
Yield Enhancement
Solutions
Enhance returns with yield solutions, including principal-protected or principal-at-risk options.
Go further with our Structured Solutions
When standard solutions are not enough, our experts design sophisticated, bespoke strategies for your investment, hedging, and risk management needs. Tailored to align with your financial goals and risk-return objectives, our structured solutions offer innovative approaches to meet your unique requirements.
Interest Rate
Hedging
Protect against interest rate fluctuations with customized hedging solutions.
Commodities
Hedging
Manage commodity price risks with specialized hedging strategies.
Foreign Exchange
Hedging
Mitigate currency risk with tailored foreign exchange hedging strategies.
Structured Forwards/
Option Strategies
Tailored hedging with combined forwards and options.
Tailored funding solutions for your specific needs
We understand that having access to the right financial instrument is essential for optimal management of your business's cash flow. At MCB, we offer a variety of funding solutions tailored to your specific needs.
“Vanilla” or Cross-Currency Repos and Reverse Repos
Use repos and reverse repos for efficient liquidity management, available in both vanilla and cross-currency formats.
Short-Term Money Market
Loans
Secure short-term money market loans ranging from overnight to 3 months, offering flexible funding solutions.
Turning expertise into actionable insights
Our markets experts regularly produce curated content to help clients navigate the challenges of the financial markets. Whether it's key facts, data, quick news summaries or in-depth technical analysis on recent market movements across various asset classes, we provide valuable insights on demand.
Daily Market Updates
Stay informed with morning updates on key market trends, including currency movements, interest rates, and commodities. Receive concise summaries and actionable insights to help you navigate the dynamic financial landscape for your Business.
MCB Wave Newsletters
Receive expert insights on financial markets, featuring in-depth analysis, emerging trends, and key developments. Make informed decisions with timely updates on forex, bonds, and structured solutions.
MCB Wave
Your Online Platform for Forex Trading
Experience next-level FX trading with MCB Wave, our secure and intuitive web-based platform designed for corporate and institutional clients. Trade in real time, access powerful forex tools, and customise your interface for greater control—all in a seamless, user-friendly environment.
Key Features:
- Seamless Trading Experience
Real-time pricing and swift order execution. - Comprehensive Forex Suite
Tools and analytics tailored to optimise your trading strategies. - Advanced Interface
Modern, intuitive design for easy navigation.
Stay up to date with our Daily Market Updates, MCB Wave Newsletters and Podcasts.
A local pioneer with global reach
With more than 30 years of industry expertise, MCB is the leading provider of custody services in Mauritius to financial institutions, asset and investment managers, corporates, insurance companies, collective investment schemes, family offices and individuals based locally or internationally. Through our carefully selected sub-custodian relationships, we are well positioned to meet our foreign and local clients’ needs in markets around the globe.
We know that each of our clients has unique needs and this is why we take a partnership view to work alongside you, wherever you are in the world.
Our services encompass a complete suite of solutions, from clearing of transactions to asset servicing for a wide range of securities:
- bonds
- equities
- exchange-traded funds (ETFs)
- mutual funds
- depository receipts
- warrants
- private equity and debt
Core Custody Services
Your winning formula
State-of-the-art technology
- Integration with SWIFT system for accurate and efficient processing
- Full integration with the local CDS
Competitive pricing
- Value added services at some of the most competitive rates on the market
E-banking platform: Online/Mobile access to your portfolio
- Online access to view positions, cash balances, transaction history, trade status, statements and query corporate actions details on Internet banking platform and/or Juice
Monitor your transactions and accounts at your convenience with our user- friendly banking solutions.
We are environmentally conscious and lead the way through our e-statements in both standard and international formats, and advices, through our reporting services
SWIFT MT940
The SWIFT MT940 electronic statement is delivered through the SWIFT Connectivity or the Host to Host Solution.
Key Features
- Easy identification of transactions for ease of reconciliation by your company internal system
- Electronic daily, weekly or monthly statement with a detailed balance and transaction report
- Provides information on opening and closing balances and all items posted to an account
Did you know? You can receive intraday account information updates through the MT942 via SWIFT Connectivity.
E-BANK STATEMENTS IN THE STANDARD FORMAT & E-ADVICES
MCB E-statements provide you with instant sight of your MCB financial transactions, handy for taxes, record-keeping and more. View, print and download your MCB E-statements whenever you like from our Internet Banking platform. You can also enjoy the same service for your e-advices.
What’s in for you?
- Download and Save your e-statements (in both PDF & CSV) and e-advices (PDF), which you can access and print if needed
- Obtain e-statements for many accounts, including: current, credit cards and loans.
FULL VISIBILITY, ZERO HASSLE
View all your accounts at a glance on IB Pro
- Consolidated Position Overview : One view, All companies.
- View your account balance history and trends in graphical representation
- Our manage payment/batches features give u a one click control over all your transactions and their statuses
- Prompt accessibility of your statements and advice
- Get what you need
Swift GPI Tracker
Take full control with SWIFT GPI Tracker: Gain real-time, autonomous tracking for your cross-border payments, ensuring greater efficiency at every step.
- Full Visibility: Instant updates on payment status
- Enhanced Control: End-to-end and clear payment tracking
- Prompt Accessibility: Smooth access to SWIFT advices