QNB provides efficient and affordable execution of our customers' Payments via domestic payment solutions
We have already connected our QNB local branches to the local payment clearing systems in Singapore, the UK, France, Oman, Kuwait, Qatar, and Lebanon, and we have access to local clearing networks in many more locations via our subsidiaries and affiliates (i.e. in Turkey, Egypt, etc.). Beyond international payments, this infrastructure enables us to provide domestic payment and collection processing capabilities in local currency online via a single window. The domestic payment option is a cheaper and faster solution than international payments and gives tangible value to our customers.
Our Standing Instruction service enables our customers to simplify regular, fixed payments with automated payment solutions. They can set up standing orders via our online banking platforms. This service enables our customers to gain efficiency and increase control over the execution of payments to regular trusted beneficiaries.
Cross Border Payment Solutions
The Cross Border Fund Transfer service is an electronic transfer of funds from one bank account to another where the beneficiary of the funds resides outside the payee’s country. QNB offers a Cross Border (or International) Fund Transfer service via its proprietary Internet Banking platform.
The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for the simplification of bank transfers denominated in Euro. As of 2018, SEPA consists of the 28 member states of the European Union, as well as the four member states of the European Free Trade Association, in addition to Andorra, Monaco, and San Marino. SEPA payment is a non-cash (electronic) Euro payment between member countries. It makes Euro payments easier and cheaper and enables you to move money as freely throughout Europe.
Despite the emergence of electronic payment technology, many companies prefer to pay their outstanding invoices by cheque; therefore we offer chequebooks to our corporate customers to support their businesses.
QNB’s Global Cash Management specialists are always keen on discussing all available options with our clients in great detail and providing efficient solutions to address their cash management needs.