System of Individual Deposits/SID is a service that may efficiently and effectively support deposits under bid securities or security deposits from third parties, and next return them with due interest. This solution will allow you to save your time and workload by shifting onto the Bank the process of interest accrual on every single deposit, with variable balance of deposits and their different terms. It also guarantees error-free identification of the person or company making the deposit or security deposit as well as error-free identification of the specific deposits.
SID supports storage of any number of payments as well as making any quantity of payments for a given case number. You just need to keep one dedicated bank account to which the specific deposits, bid securities or security deposits will be paid. For every paid deposit, interest will be accrued and compounded every day and you will have online access to the information about the deposit balance with added interest in the SID application.
- Efficient and effective deposit services.
- Error-free identification of the depositors and individual deposits.
- Time and workload savings.
- Every-day (online) information about the balance of single deposits with accrued interest.
- Instructions can be placed via the Millenet online banking system.