Global Trade Services
Foreign Funds Transfer
Funds are transferred efficiently and promptly through our correspondent banking relationship with the first class international banks. We maintain foreign accounts in all the major currencies and correspond through Commerce Bank, Standard Charted Bank New York, Standard Chartered Bank UK, and Access Bank UK.
Bills for Collections
Under Bills for collection, there is an underlying credit from the supplier for which a Bill of Exchange (an I O U) properly executed by the importer and endorsed by his bank is the underlying “Eligible Instrument”.
Letters of Credit
Access Bank issues import letters of credit on behalf of customers to her beneficiaries anywhere in the world by utilizing lines availed by highly reputed correspondent banks. These banks are positioned in strategic business locations all over the world.
The Dollar Usance is an outright Dollar Loan and will also ensure that your LC is made operative without having to add confirmation to the letter of credit pending when you are successful at the Dutch Auction bid. To this end, this solution saves you any offshore confirmation charges.
The Letter of Credit Confirmation Line (LCCL) will ensure that confirmation is added to your letter of credit pending when the bid is won on your behalf.The LCCL does not involve actual cash outflow, as it is essentially a payment guarantee from Access Bank Plc accepted by our foreign correspondent bank. However, your offshore suppliers can discount this guarantee on the counters of the same advising/confirming bank.