NBO transforms corporate payments with new direct debit service

MUSCAT: Continuing to transform Oman’s payments’ landscape, National Bank of Oman (NBO) has launched its new direct debit service for corporate clients. Under the guidance of the Central Bank of Oman (CBO) and for the first time in Oman, companies can now automise their monthly payments, eliminating the need for cheques. To apply for the service, customers simply need to fill in the direct debit mandate and submit it at any NBO branch or via their assigned relationship manager for a secure, reliable and efficient payments’ experience. Meanwhile, in line with the bank’s digital strategy, it is also gearing up to introduce the service digitally, through its Corporate Internet Banking platform.

Mohammed bin Yahya al Jabri, AGM - Head of Global Transaction Banking at NBO, said, “Direct debit is a game changing solution for businesses. Working the same way as personal direct debit for monthly bills, it ensures that payments will be made automatically on a set date, removing the need to wait around for authorisation. Through it, we are helping our clients monitor, control and manage all their payments with greater operational efficiency and ease, so they never miss another bill payment.”

NBO’s direct debit service is available through CBO’s fully dedicated system, which connects all of the banks in Oman, and offers a range of benefits for both large companies and SME’s in a variety of industries including real estate, automotive, trading, finance and many more. With a quick and simple registration process, immediate auto debit/ credit and predictable planned payments that can be easily tracked, managed and controlled, customers are empowered to operate the functionality with ease and at their convenienvce, along with a comprehensive dashboard of their transactions.

NBO’s corporate banking suite offers a range of innovative solutions that cater to its customer’s day-to-day banking needs, backed up with the support of experienced and dedicated relationship managers. Using cutting-edge technology and leading security features, its Corporate Internet Banking (CIB) platform empowers companies and government entities to make instant transactions, payments and transfers, access account balances, make on-the-spot enquiries, access non-financial services and complete transaction histories on all of the their accounts. Available free and accessible 24/7, the frequently-updated digital service is enhanced by the bank’s best-in-class expertise and superior customer experience.