International BankingWhether your clients are venturing into international channels for the first time or looking for a new partner to handle their existing international transactions, Associated Bank’s experienced professionals provide the technical support and service your clients need. And with our state-of the-art technology and vast network of foreign correspondent banks, the international marketplace seems closer to home than ever.
International Payment MethodsTo help balance the commercial and political risks of doing business internationally, your customer may need to consider alternative payment methods for transactions. Associated Bank offers a variety of payment options to fit international business needs.
Foreign ExchangeWe offer wire transfers, drafts, and spot payments through S.W.I.F.T.®, a global provider of secure financial messaging services, to meet daily cross-board foreign payment or receivables.
Foreign Exchange HedgingFor known or anticipated future payments, we offer full foreign exchange hedging products including the direct outright purchase or sale, non-deliverable forwards and currency swaps to vanilla, or structured options. These commonly used hedging tools are ideal standard products for businesses with repetitive foreign payables/receivables or known future cross-border needs.
Commercial Letters Of CreditFor exporters concerned about receiving prompt payment from a customer that does not have an established credit history, a commercial letter of credit can evenly balance the risks of the seller and buyer. Often used for first-time sales, this instrument is a guarantee from the importer’s bank that the exporter will be paid after the merchandise is shipped and the complying documentation has been submitted to the bank.
Standby Letters Of CreditThis useful tool can be helpful for establishing creditworthiness in international transactions. Unlike a commercial letter of credit, it is typically a back-up source of payment because it often guarantees payment to a beneficiary only in the event of a default under the original payment agreement.
Documentary CollectionAn alternative to letters of credit, documentary collection is best used for transactions with established customers or importers whose credit ratings are good or excellent.
S.W.I.F.T.® is a registered trademark of Society for Worldwide Interbank Financial Telecommunication SCRL.
Contact or email us to see how our Financial Institutions Group can help you.