What Corporate Services And Solutions Does Wing Bank Offer Businesses In Cambodia?

on Feb, 07 2025

Savings And Deposits

Businesses can open savings accounts at Wing Bank with interest up to 2 per cent per annum (p.a.). Accounts can be opened either at any Wing Bank branch or directly from the Wing Bank mobile application. To receive an interest rate of up to 2 per cent, the business savings account must have a balance of USD 100,000 (KHR 400 million) or more. Accounts with a lower balance receive an interest rate starting from 0.10 per cent.

In addition to interest, savings accounts also afford users access to discounts at over 40,000+ Wing merchant shops and restaurants.

Wingbiz+ Payroll

Wing Bank offers companies a comprehensive and reliable solution for managing payroll needs via the Wing Bank iBanking system with zero fee charges. Salaries can be disbursed for all employees with a few clicks, saving time on processing, reducing risk of cash handling and allowing for convenient monitoring of payroll records and other transactions through the Wing business portal.

The financial advantages Wingbiz+ Payroll provides companies include:

No payroll processing fee
No transfer fee for Swift ITT from abroad
Provides eligibility for better interest on savings and business loans/funds advancing without required collateral

Furthermore, employees can also enjoy basic benefits such as a waived first year fee for a Visa debit card and credit card at Wing Bank, eligibility to secure a savings account with unlimited withdrawals, and the ability to obtain digital loans straight away via the Wing Bank App without collateral.

Wingbiz+ Payroll./Image credit: Wing Bank.

Business Loans

Wing Bank offers a range of loan options tailored to meet the needs of businesses of different sizes, from small startups to established enterprises.

Digital Loans For Wing Agents

Wing Agents can request up to USD 25,000 with a loan term of up to six months. No collateral is required, and the loans are flexible based on only what the agents need.

Digital Loans for Merchants

Wing Merchants can request up to USD 1,000 with a loan term of up to three months. No collateral or guarantor is required.

Small, Medium And Large Business Loans

These three loan types feature competitive interest rates, tailored financial products, and flexible repayment modes. A range of collateral options are accepted to secure the loan, including: real estate properties with strong/soft title deeds, cash deposits, motor vehicles, machinery, equipment and other assets, third-party guarantees, corporate guarantees, bank guarantees and more.

To be eligible for a small, medium or large business loan from Wing Bank, you must:

Be a commercial entity or individual with a stable business operation and creditworthiness.
Have at least 12 months of business operation or key management experience in the same line of business.
Be over 18 years old and not exceed 65 years during the loan tenor.
Maintain business transactions through a Wing Bank account.
Have a positive repayment history.

Wing Merchant App

Wing Bank has a dedicated Wing Merchant app designed to offer business owners a specialised and seamless experience based on cashless payments and streamlined operations, all through their smartphones. Becoming a Wing Merchant provides businesses access to a diverse range of merchant services and payment processing solutions.

Benefits include:

A 5 per cent interest rate on merchant savings accounts
Transfers of up to USD 150,000 daily from Wing Account to Wing Account, free of charge
Transfers of up to USD 50,000 daily from a Wing Bank account to any bank account in Cambodia

Wing Merchant App./Image credit: Wing Bank.

The Wing Merchant app also allows for outlet management, meaning businesses can centrally manage several outlets through a single platform. This includes having the ability to create new outlets, update outlet information, and manage outlet cashiers. The outlet manager helps to simplify staff management and track sales per employee, hours worked, and sales per time slot, providing valuable insights on sales trends and business performance.

Generated Wing Merchant reports can be accessed through a daily comprehensive reporting dashboard on the app. Merchants can review data from the past three months to make data-driven decisions and monitor customer behaviour including the ability to define gender and age.

Wingmarket

Wingmarket is Wing Bank’s closed-loop digital marketplace and supply chain management platform. It facilitates efficient buying and selling for corporates, small and medium enterprises (SMEs), distributors, wholesalers, and retailers throughout Cambodia.

The platform simplifies the procurement process by enabling customers to place orders to suppliers without added commission. Payments and orders can be made through Wing Bank accounts and the Wing KHQR system, streamlining transactions and ensuring transparency.

Up to USD 50,000 in digital and unsecured supply chain financing can also be obtained through the Wingmarket platform for short-term working capital, at a 12 per cent interest rate and three month revolving tenor. Wingmarket takes a 1 per cent processing fee, and to be eligible businesses must have 12 months of historical purchasing data.