Payee Agent (PA)

This product is specially designed to collect payments in the form of deposits in a checking account which is exclusively laid on for this purpose. This allows our corporate clients to monitor and update their systems with details of the payments thus received and as often as they require.


  • A checking account exclusively designated to receive these deposits.
  • Better collection control with this exclusive account.
  • Provides greater security against attempted fraud.
  • Generates an electronic record of the payments received thereby facilitating any subsequent investigation into such.
  • Clients obtain receipts for the payments deposited in this account.
  • Immediately available funds.

¿How can I obtain this product?


  • A corporate checking account with Banistmo in dollars.
  • A duly signed service agreement.
  • A duly signed pay agent registration application.


¿How can cash deposits be made in this type of account?

  • Inform the cashier of the name of the service to be paid.
  • Provide the reference number of the service to be paid.
  • Hand over the amount to be deposited.
  • Receive the payment receipt, ensure the information therein stated is correct and sign

¿Can the deposits made in this account be tracked on-line?

Yes, of course, you may view the deposits made by logging onto Banistmo´s on-line banking facilities and download this information as a TXT or Excel file.

¿Can I draw down on this account through checks or cash withdrawals at branch offices?

No checks can be drawn on this type of account, the only way to move the funds thus collected is via an electronic on-line transfer of such or you may sign up for the Zero Balance Account service that automatically transfers funds to a fully-functional account.

For more information please call our Help Line: (507) 321 0101, or visit one of our nationwide branch offices.