Domestic Fund Transfers

SWIFT Transfer

Swift Transfer Facilities:

• Incoming and outgoing Fund Transfer through SWIFT MESSAGE.
• Outgoing SWIFT Transfer Charges of 1.50% + SWIFT charges USD 50+ 0.25% (Minimum USD 15 and maximum USD 60) correspondent bank charges for SHA instruction.
• Incoming SWIFT transfers charges 0.75% of the amount (Minimum USD 35 and maximum USD 5000 or equivalent in other currencies).
• Prompt follow up of the SWIFT messages.

Inward & Outward Remittance

Inward Remittance:

Inward Remittance is the receipt of funds either locally or from offshore (Internationally).Our bank acts as paying bank for its overseas branches and correspondent banks in accordance with the payment instructions of the overseas remittance.

Outward Remittance:

Outward remittances are the transfer and payment of funds in accordance with the remitter's instructions. Transfers may be made internationally or locally; our bank provides prompt, safe and convenient outward remittance services.

Import/Export Collection

Import Collection:

This is safer than paying for your goods in advance since you make a payment only when you receive evidence of the shipment, protecting against the risk of non-performance of your supplier.

Export Collection:

This provides you with a more secure payment for your exports. You can gain reassurance of payment and use the banking system to maintain control over your goods with Export Collections.

Documentary Letters of Credit

This is safer than paying for your goods in advance since you make a payment only when you receive evidence of the shipment, protecting against the risk of non-performance of your supplier.

Features and Benefits

• Assurance that payment will be made to you by a bank and retain control over your goods until payment is confirmed.
• Exporters can ask us for a confirmation of credit and we’ll add our guarantee of payment.
• Importers can ask us for an import letter of credit, often required by the supplier, and we’ll also guarantee payment to the overseas supplier provided we receive the correct documents.

Bills Discounting

Trading or selling a bill of exchange prior to the maturity date at a value less than the par value of the bill. The amount of the discount will depend on the amount of time left before the bill matures, and on the perceived risk attached to the bill.

Money Exchange

A business that allows customers to exchange one currency for another currency. A currency exchange may be a stand-alone business or may be part of the services offered by a bank or other financial institution. The currency exchange profits from its services either through adjusting the exchange rate or taking a commission.