Mercantile Bank Product Selection GuideV3

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Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
Business Banking Transactional Products and Solutions
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Business Bank
Account
Mercantile Bank offers a
comprehensive range of
business banking
transactions, along with a
personal assurance of
professional service
delivery at all times. We
focus on you and your
business to ensure that
your unique needs are met
quickly, effectively and in
line with your
expectations.
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Our Business Bank Account offers
you a complete banking solution with
easy access to a wide range of
products and services. Business
Banking fees are competitive and,
with a monthly account fee and a
pay-as-you-use approach, you are
charged in line with the transactions
you conduct.
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Debit Card
A Mercantile Bank debit card allows
you to access your funds via a global
network of ATMs and point-of-sale
devices. This means that you have
access to your cash 24 hours a day,
365 days a year, all around the world.
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Credit Card
Enjoy a card-based credit facility that
gives your business access to
additional funds immediately. This
allows your business to access money
in advance to better manage your cash
flow shortfalls and settle when you have
received funds. The card also gives you
access to VISA’s global network of
ATMs and Point of Sale devices.
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Full transactional capability: Make payments and collect funds using a
comprehensive range of convenient banking channels
Linked debit card: Link your debit card to your account for daily purchases and
access VISA’s global ATM and point-of-sale network
Payments: Set up debit and stop orders to automate monthly payments
Business Internet banking: Enjoy secure online banking via [email protected]™, our
business Internet banking platform, available anywhere, 24/7
Overdrafts: Link an overdraft facility to your account, access additional funds
whenever needed and manage your cash flow effectively
Customised service: Enjoy customised and personal service as a valued
Mercantile Bank client
Single point of contact: Deal directly with your Mercantile Bank Business
Manager who will take care of all your business banking requirements.
Ease of use: Enjoy easy access to our conveniently-located ATMs at all our
business centres, countrywide
Saswitch: Use your VISA-branded debit card at all Saswitch ATMs across South
Africa
VISA: Enjoy the convenience globally of transacting at any VISA-enabled ATM or
point- of-sale device worldwide
Pay for fuel: Purchase fuel safely and conveniently using your VISA-branded debit
card.
SMS notification: Receive SMS notifications about any transactions effected on
your business debit card
Revolving facility: Access available funds with up to 55 days interest free
Access: Use your card at VISA merchants and ATMs worldwide
Drive Card: Link your Drive Card to your business credit card and take care of
your fleet-related spending
Multiple users: Nominate any number of executives and staff to use cards linked
to a single card account, with individual limits and tracking
Free travel insurance: Receive free travel insurance when you purchase an airline
ticket using your business credit card
SMS notification: Receive SMS notifications about any transactions effected on
your business credit card
Statements: Receive consolidated statements for your company along with single
statements for individual card holders.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 1
Mercantile Bank Product Selection Guide
Overview
Product
Drive Card
Brief Description
The Mercantile Bank Drive Card is the
only card you need to keep you and
your fleet on the road and on the go.
The card can be used for fuel
purchases, repairs and vehicle
maintenance payments.
Features and Benefits
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Business Savings
Account
Enjoy the benefits of essential
transactional banking solutions with a
Mercantile Bank Business Savings
Account. With a monthly fee and
transactional charges levied according
to a pay-as-you-use basis, it’s a costeffective option. In addition to a full
suite of transactional capability, this
account offers competitive fees and
attractive interest rates.
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Security: Link a Drive Card to a specific vehicle for enhanced security
Efficient: Enjoy the benefits of fast, efficient and safe vehicle-related transactions
Usage: Use your card to pay for emergency repairs and spares as well as fuel, oil
and other vehicle expenses
Toll fees: Pay toll fees using your card and never have to carry cash again
Easy settlement: Settle payments easily, with Drive Card transactions linked to
your Mercantile Bank Visa Business gold credit card
Statements: Monitor card transactions and motor-related expenses with linked
monthly statements.
Full transactional capability: Make payments and collect funds using a
comprehensive range of convenient banking channels
Linked debit card: Link your debit card to your account for daily purchases and
access VISA’s global ATM and point-of-sale network
Payments: Set up debit and stop orders to automate monthly payments
Business Internet banking: Enjoy secure online banking via [email protected]™, our
business Internet banking platform, available anywhere, 24/7
Customised service: Enjoy customised and personal service as a valued
Mercantile Bank client
Tiered interest rates: Earn competitive tiered interest rates according to your
balance – interest is calculated daily and capitalised monthly.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 2
Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
Business Banking Borrowing Solutions
Mercantile Bank offers you
a range of business
lending products tailored
to suit your unique
requirements, all at highly
competitive rates. Our
suite of borrowing
products includes
overdrafts, term loans, as
well as asset and property
finance.
Overdrafts
Business Term
Loan
A credit facility linked to your business
bank account can help you manage
your cash flow and working capital
requirements more effectively. This
overdraft option gives you easy access
to additional funds for unforeseen
circumstances. It’s a prime-linked
revolving facility offered at competitive
interest rates.
Mercantile Bank offers tailored
business term loans to suit your unique
requirements. Your Business Manager
can assist you in structuring a facility
that will help you make key and timely
purchases for your business.
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Revolving facility: Enjoy the benefits of a revolving facility, reviewed annually
Instant access: Avoid delays and enjoy instant access to additional funds, whenever
you need it
Tailored limits: Discuss your unique requirements with your Business Manager to
establish suitable borrowing limits
Interest: Earn a prime-linked rate of interest, calculated daily and charged to your
account on a monthly basis
Cash flow: Maximise your cash flow by being able to access extra working capital
when you need it most
Competitive interest rates: Benefit from an attractive interest rate - only pay interest
on funds used and not the full facility available to you.
 Flexible terms: Discuss attractive borrowing terms with your Business Manager to
establish optimal lending solutions
 Competitive interest rates: Pay a competitive interest rate for your business loans
 Peace of mind: Manage your budget and plan ahead, with clear knowledge of
interest rate charges and repayment terms
 Tailored solution: With a good understanding of your business and your unique
needs, we have the ideal business term loan for you.
Leasing
Save costs and avoid depreciation of
assets by using a leasing facility to
lease movable and durable goods.
This financial service enables you to
select items you require for your
business operations which are then
purchased by Mercantile Bank and
used by you for an agreed period. You
pay cost-related rentals and Mercantile
Bank retains ownership of the goods
for the duration of the lease.
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Flexible terms: Structure the deposit and the repayment period to suit your business
needs
Flexible interest rates: Link your interest charges to the Prime lending rate or fix
interest rates for a specified period
Insurance: Insure all goods comprehensively and take advantage of competitivelypriced rates from our insurance partner.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 3
Mercantile Bank Product Selection Guide
Overview
Asset Finance
Mercantile Bank
understands your
requirements when it
comes to operational
efficiencies and expansion
opportunities. We offer a
range of financing options
for all your motor vehicle,
fleet and capital equipment
needs at competitive rates.
Enjoy flexible and
affordable asset finance
facilities, including lease
and instalment finance,
customised according to
your needs.
Product
Instalment
Finance
Rental Finance
Brief Description
To meet your flexible finance needs,
Mercantile Bank offers Instalment
Finance, which enables you to pay
affordable instalments for moveable
and durable goods that your business
requires. Mercantile Bank purchases
these goods and sells them to you on
agreed terms. In addition to finance
charges, you repay the full amount in
instalments over an agreed period.
Ownership of the goods lies with
Mercantile Bank until all payments are
made, whereafter ownership
automatically transfers to you.
Mercantile Bank offers you attractive
rental products through our subsidiary
company, Custom Capital, a rental
finance company specialising in
finance for a range of asset classes.
These include office automation,
telecommunication products, security
surveillance, medical equipment,
construction equipment and computer
equipment. Discuss your requirements
with us and let Custom Capital find
your ideal solution.
Features and Benefits
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Flexible terms: Structure a repayment period and a deposit that best suits your
business needs and your cash flow
Flexible interest rates: Link your interest charges to the Prime lending rate for a
fixed or specified period
Insurance: Insure all goods comprehensively and take advantage of competitivelypriced rates from our insurance partner
Ownership: Take full ownership of the goods once you make the last repayment.
 Save working capital: Preserve your working capital without needing a large cash
outlay for key assets and focus rather on your core business
 Return on net assets: Enhance your balance sheet and income statement with a
better return on net assets
 Obsolescence hedge: Manage the life cycle of your business assets through costeffective rental finance
 Flexibility: Enjoy flexible finance terms and structure repayments according to your
business needs
 Profitability: Reduce your debt exposure and enjoy tax advantages, using off
balance sheet financing to enhance your business profits.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 4
Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
Business Banking Electronic Banking and Payment Solutions
Our Electronic Banking
Services division has
established a proven track
record, built-up over a
decade. With a focus on
service, security and cost
efficiencies, we have
assisted clients in certain
instances to secure an
improvement of up to 35% in
unpaid collections. Direct
access to the payment
system, regulators and
BankservAfrica ensures that
we are part of, and have an
influence over, the everchanging payments
environment.
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Electronic Banking Services provides
solutions to third parties and offers
access to the following:
Electronic
Banking Services
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Debit Order Collections
NAEDO Collections
AEDO Collections
Electronic Banking Services
Payment System
Account Verification Services
(AVS)
Bank Account Validation
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Accuracy: Submit accurate information and details every time you transact,
reducing admin burdens and increasing collections
Integration: Achieve full integration with your internal systems to minimise human
intervention and associated errors
Flexibility: Choose when to submit collections each month, with flexible solutions to
track payments and maximise collections
Multi-channel: Choose web-based information capture and submission or batch file
import capabilities
Automated: Take advantage of fully automated solutions, reducing workload,
limiting human intervention and keeping you well informed
User-friendly: Use our secure solutions with ease, with client-managed functionality
and multiple users
Pricing: Benefit from competitive pricing on our solutions, based on the transaction
volumes of your business
Tailored solutions: Let us assist you to improve your collections by minimising the
following:
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Incorrect collection details (account numbers, branch info, etc)
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Insufficient funds in your business’ debtor’s accounts
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Inaccurate information regarding the salary date of debtors.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 5
Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
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Business Internet
Banking,
[email protected]™
Mercantile Bank’s Business Internet
banking system, called [email protected]™,
offers you 24-hour access to view,
monitor and manage your Mercantile
Bank accounts. This online system is
secure, user-friendly and
technologically advanced. Its
functionality caters for your business
banking needs. It’s also quick,
convenient and because it is webbased, it can be accessed from
anywhere in the world.
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Merchant
Services
Mercantile Bank offers Merchant
Services to take care of all your cardbased customer purchases. Our Point
of Sale (POS) terminals can be linked
to your transactional bank account,
enabling you to receive same-day
value for all VISA and MasterCard
Credit and Debit card transactions.
Provided that your terminal is linked to
your Mercantile Bank transactional
account, and that payments are
received by us before 19h00, funds will
reflect in your Mercantile Bank account
on the same day.
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Inter-account transfers: Transfer funds between your Mercantile Bank accounts
anywhere, anytime
Payments: Process large transaction volumes, access a full payment history and
create or manage recurring or future-dated payments
Group payments: Pay up to 20 beneficiaries in one group at once and use the same
group on a regular basis as required
Immediate payment: Use the straight through process (STP) option for real time
processing of payments to beneficiaries
Batch payments: Import files containing bulk payment information, such as creditor,
salary or wage batch payments
Multiple users: Determine how many internal users within your business need to
TM
use [email protected] to conduct your business banking
Multiple user levels: Control user access and functionality and enable dual
authorisation to ensure security checks and internal controls
Access: Enjoy access to multiple Mercantile Bank accounts at a glance
Beneficiary management: Create, import, maintain and manage your beneficiaries
and provide them with proof of payment via SMS, fax or email
Grouping of beneficiaries: Group beneficiaries for ease of payment, with a
maximum of 20 beneficiaries per group
Secure messaging: Forward confidential financial information to our operations area
via secure messaging
TM
DIGIPASS : Rely on our security features to make your online banking safe, such
TM
as our two factor authentication solution, DIGIPASS
Audit trail: Monitor all of your banking transactions and use a full audit trail to track
every transaction by all users on the system.
Acceptance: Use our POS device to process transactions for all VISA and
MasterCard Debit and Credit Cards
Same day value: Get same day value for your card-based transactions and optimise
your cash flow
Simplified bookkeeping: Use our clear and easy-to-read statements to make your
reconciliation process simple and easy.
Guaranteed payments: Enjoy guaranteed POS payments from Mercantile Bank and
card associations, reducing fraud and associated losses
Reduced risk: Reduce the need for cash handling on site, cutting costs associated
with depositing cash and reducing your overall risk.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 6
Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
Business Banking and Personal Investment Solutions
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Call Account
Mercantile Bank offers a
full suite of business
savings products and
services. Our Business
Savings products cater for
all your investment needs
and deliver a solid return
on your investment. These
accounts include call
accounts, notice and fixed
deposits as well as money
market accounts.
Open a Call Account with Mercantile
Bank and earn an attractive return on
your surplus cash, which is readily
accessible whenever you need it.
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Easy access: Avoid any delays and get immediate access to your business savings,
with no notice period or withdrawal penalties
Transact: Move funds in and out of your account as and when needed
Interest: Earn a preferable and attractive rate of interest on your funds – agreed
between you and your Business Manager
Tiered rates: The higher your investment balance, the more interest you stand to
earn
Minimum savings balance: Enjoy all the benefits of a Call Account with a minimum
balance of only R1000.
 Prime linked rate: Grow your interest potential, in line with changes in the Prime
Notice Deposit
Open a Notice Deposit Account with
Mercantile Bank and earn an attractive
rate of interest on your funds, with a
variety of maturity periods to suit your
needs.
interest rate
 Notice period: Choose the notice period that best suits your needs (32, 66 or 88
days) and avoid early withdrawal penalties
 Attractive interest: Maximise your investment return through a longer-term Notice
Deposit Account and earn a preferred rate of interest
 Minimum balance: Enjoy all the benefits of a Notice Deposit Account with a
minimum balance of only R1000.
Fixed Deposit
A Fixed Deposit Account enables you
to invest your money for a fixed period
of time, at a fixed interest rate. Earn
interest on your deposit on a monthly
basis or upon maturity of the fixed
deposit term.
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Secured rate: Earn a fixed, secure and unchanged rate of return for the duration of
your specific investment period
Flexible terms: Choose from a range of time periods and select the timeframe that
best meets your needs
Flexible distribution: Have the interest you earn paid out on the maturity date of the
deposit, or paid on a monthly basis into a separate account
Minimum investment: Enjoy all the benefits of a Fixed Deposit Account with a
minimum balance of only R1000.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 7
Mercantile Bank Product Selection Guide
Overview
Product
LisaGrow
Brief Description
LisaGrow is a Fixed Deposit Account
that enables you to benefit from a
higher investment rate, in line with
increases in the Prime interest rate (a
percentage increase at the Bank’s
discretion). With benefits on the upside,
your investment rate will never fall
below your original rate, even if the
Prime rate falls. This allows you to
secure a minimum return on your
investment and earn bonus returns
from any Prime rate increases.
PrimeGrow
A PrimeGrow account with Mercantile
Bank allows you to reap the full
benefits of an increasing interest rate
cycle. With an interest rate linked to
Prime, you can earn maximum interest
over a fixed savings period.
PrimeAccess
PrimeAccess is a 12-month fixed
investment account which enables you
to access up to 30% of your funds over
three occasions within a 12-month
period. This means that you can keep
70% of your savings fixed until maturity
but still have access to some funds if
and when you need them.
Features and Benefits
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Fixed floor rate: Earn a fixed rate of interest and lock in your return even if the
Prime interest rate falls over time
Prime-linked rate upside: Benefit from potential interest rate increases (a
percentage increase at the Bank’s discretion) should Prime rise but remain protected
from any downside swings
Fixed term: Invest your funds for a 12-month period to enjoy a secure investment
with greater earnings potential
Minimum investment: Enjoy all the benefits of a LisaGrow Account with a minimum
balance of only R5000.
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Prime-linked rate: Watch your investment grow as the Prime rate rises
Higher return: Be rewarded with higher interest rates for fixing your savings period
Flexible fixed terms: Choose the fixed term that suits you best
Minimum savings amount: Enjoy all the benefits of a PrimeGrow account with a
minimum investment of R50 000.
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Access: Access up to 30% of your savings, three times over a 12-month period, if
required
Security: Take comfort in the knowledge that you can earn solid returns on at least
70% of your savings, fixed until maturity
Notice: Give only 24-hours notice if and when you need to withdraw some funds
Interest: With interest earned on your account directly linked to Prime, stand to gain
if the Prime rate rises and earn interest rates in line with 12 month deposit rates
Minimum investment: Enjoy all the benefits of a PrimeAccess Account with a
minimum investment of R100 000.
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Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 8
Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
 Access: Enjoy easy access to your funds and comply with a seven-day notice period
to avoid any penalties
MM 7
Our Money Market 7 account is
designed for businesses seeking an
attractive return on short-term surplus
funds.
 Interest: Earn money market rates on surplus funds - negotiate an attractive interest
rate with your Business Manager
 Transact: Move funds in and out of your account at your discretion, abiding to the
seven-day notice period
 Minimum investment: Enjoy all the benefits of a Money Market 7 Account by
always maintaining a minimum balance of R100 000.
 Access: Enjoy easy access to your funds and comply with a 24-hour notice period to
MM 24
Our Money Market 24 account is
designed for business owners and
individuals seeking attractive returns on
short-term surplus funds.
avoid any penalties
 Interest: Earn money market rates on surplus funds
 Transact: Move funds in and out of your account at your discretion, abiding to the
24-hour notice period
 Minimum investment: Enjoy all the benefits of a Money Market 24 Account by
always maintaining a minimum balance of R25 000.
 Access: Access your funds and comply with a 7-day notice period to avoid any
penalties
TESA
Our Tax Exempt Savings Account is an
attractive product aimed at individuals,
seeking tax free returns at competitive
rates.
 Tax free interest: Any interest earned is tax free, provided that you adhere to the
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regulation set limits.
Investment limits: Maximum annual investment restricted to R30 000 and lifetime
investment restricted to R500 000
Flexible investments: Deposits may be made in a lump sum of R 30,000 or several
smaller deposits – not exceeding the regulated limit of R 30 000 per annum
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 9
Mercantile Bank Product Selection Guide
Overview
Product
Brief Description
Features and Benefits
Foreign Exchange and Treasury products
Spot Market
Mercantile Bank is an
authorised foreign exchange
dealer, offering a range of
services for both importers
and exporters active in
cross-border trade. Our
Treasury employs
professionals with a wealth
of experience, able to advise
you astutely and address all
of your forex requirements.
Mercantile Bank Treasury is your
gateway to international markets
offering you competitive pricing across
more than 30 currencies. We enable
you to trade in the spot market to lock
in favourable rates for all your offshore
dealings.
 Access: Enjoy convenient access to foreign exchange markets across a range of
currencies
 Trust: Rely on Mercantile Bank as a trusted partner to manage your forex
requirements
 Pricing: Enjoy competitive forex pricing with direct access to our dealing room
enabling you to avoid using list prices
 Reduced risk: Lower your currency risk with spot market rates to lock in favourable
exchange rates and limit the risk of currency swings.
 Risk management: Hedge your risk and protect your business from unfavourable
exchange rate fluctuations
Forward
Exchange
Contracts
(FECs)
Mercantile Bank offers you Forward
Exchange Contracts (FECs) to protect
your business from unexpected
fluctuations in currency prices. An FEC
is an agreement between two parties to
exchange two designated currencies at
a specific time in the future.
 Predictability: Budget accurately and on-sell with confidence, certain of the cost of
your imported goods in Rands
 Flexibility: Tailor your FEC to suit your specific needs when it comes to amounts,
delivery dates and business transactions
 Exchange control advice: Let our trained teams assist you with advice regarding
SARB regulations and exchange control requirements
 Access: Enjoy easy access to forex markets and let Mercantile Treasury
intermediate with other banks and currency markets for you
 Trusted: Rely on Mercantile Treasury and our skilled teams to manage all of your
foreign exchange requirements
 Competitive pricing: Benefit from competitive pricing with direct access to our
dealing room.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 10
Mercantile Bank Product Selection Guide
Overview
Product
Derivatives
Additional Forex
products
Mercantile Bank offers you a
range of Trade Finance
products and services to
address all of your
international trade
requirements. Our Trade
Finance solutions are
generally short term in
nature and allow you to
trade efficiently, securely
and cost effectively
Letter of Credit
Brief Description
Mercantile Bank offers you a wide
range of derivative products tailored to
suit your unique risk profile. We can
assist you with derivative contracts to
hedge against risk (resulting from price
movement in an underlying asset).
Futures contracts, options and
swaps are some common types of
derivatives on offer. By their nature,
derivatives allow for leverage as they
are either margin or premium based,
rather than the full notional value. This
allows you to manage your risk in line
with your business profile.
Mercantile Bank offers you and your
business additional forex options for
when travelling abroad.
With the nature of international
dealings including factors such as
distance, different country laws and
difficulty in knowing your counterparty,
the use of Letters of Credit have
become functional and advantageous.
With skill and acumen in the field of
trade finance, Mercantile Bank can act
on your behalf and ensure that your
suppliers are only paid once
confirmation of goods being shipped
has been received.
Features and Benefits
 Lower cost hedging: Enjoy reduced brokerage fees by not having to trade directly in
the underlying asset
 Pricing benefits: Take advantage of price movements in the underlying asset
without needing to trade directly in it
 Liquidity: Benefit from the liquid nature of derivatives which are easily traded
 Diversify: Diversify your investment portfolio and reduce your risk.
Traveller's Cheques
If you are travelling abroad for business or leisure purposes, you can purchase Traveller’s
Cheques directly from us. These are a secure alternative to cash for all your travel-related
spending and they’re available in a wide choice of currencies.
Foreign Cash
Purchase foreign currency from us should you wish to have foreign cash while travelling
regionally or internationally. This is available from any Mercantile Bank Business Centre.
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Certainty: Put your mind at ease with Letters of Credit when you are unsure of a
trade partner’s ability to do what was agreed
Quality control: Ensure the quality of goods shipped to you by specifying the need
for certain documents, such as inspection certificates
Settlement risk: Reduce your risk of unsettled business and payments with new and
unknown trade parties
Certainty: Rest assured of payment or receipt of goods by using Letters of Credit
and manage your trade and business risks more effectively
Trade with confidence: Benefit from secure trade and limited your import/export risk
while growing your business.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
Page | 11
Mercantile Bank Product Selection Guide
Overview
Product
Trade
Guarantees
Bills for Collection
Other products
Brief Description
Mercantile Bank offer clients Trade
Guarantees to facilitate international
trade transactions. A Trade Guarantee
can reduce settlement risk for sellers
and expedite the exporting of goods to
buyers.
Mercantile Bank offers you Bills of
Collection – a common and popular
means of obtaining payment in
international trade transactions. We
offer this product to assist you to
facilitate payment from suppliers that
are well known and trusted by you.
Mercantile Bank offers you and your
business, a number of additional
exchange control related products and
services like Exchange Control
Services and SWIFT
Features and Benefits
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Reduced risk: Mitigate your trade risk and be assured of receiving payment for
goods you export
Certainty: Enjoy peace of mind, knowing that your cash flows will not be affected by
bad international trade debts
Competitive pricing: Benefit from well-priced guarantees, negotiated with your
Business Manager or Account Executive.
Lower costs: Benefit from this cheaper form of guarantee
Control: Retain control over goods traded when the original Bill of Lading is sent via
the banking system and not directly to importers
Competitive pricing: Agree on a competitive price, negotiated with your Business
Manager or Account Executive.
Exchange Control Services
Our Treasury Team can assist you and your business with a number of additional
exchange control related services, including the following:
 Opening Accounts for Foreign Payments (Transfers Inward and Outward)
 CFC (Customer Foreign Currency) Accounts
 Currency Investment Accounts – Foreign Currency Accounts (FCAs)
 Contact us or visit any one of our Business Centres for assistance with your
export/import documentation.
SWIFT
Mercantile Bank can assist you and your business in facilitating electronic foreign
currency payments and currency transfers, as and when required. Using SWIFT, a
worldwide electronic payment and receipts network, transfers are fast, secure and
efficient. Please speak to your Business Manager if you would like to make use of this
facility.
Products may change from time to time. Please note that each product is subject to its own Terms and Conditions
Mercantile Bank Limited. Reg. No: 1965/006706/06
An Authorised Financial Services and Credit Provider. NCRCP19
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