Global Trade Services
Correspondent Banking Services
Correspondent banking 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 Citibank (London and New York), JP Morgan, Australia New Zealand Bank (ANZ) (London), BNP Paribas Paris, Deutsche Bank, HSBC Bank PLC amongst others.
Form M Processing
Form M Processing
Form NXP Processing
Plant & Machinery Financing
Shipping Documents Handling
Mortgage Loans
Trade Services
Trade Service is a unique electronic solution that allows our trade customers to initiate and track transactions electronically. In addition, our clients can customise, schedule and generate reports and retrieve information electronically.
Invisible Transactions
Customers can purchase foreign exchange from the CBN or Interbank/Autonomous sources and transfer funds to offshore beneficiaries FOR ELIGIBLE INVISIBLE TRANSACTIONS ONLY.
Examples of eligible Invisible transactions are school fees, mortgage payments, medical fees, Consultancy fees, Airline remittances, etc. Each transaction must have an ORIGINAL Form A duly filled and signed in line with the customers’ mandate with the bank.
Features
- Direct access to Foreign Exchange for remittances for Services and Intangible items such as School/Course Fee’s, Mortgage, Expatriate home remittances e.t.c
- Access to Personal or Business Travel allowances of up to USD4,000 and USD5,000 or its equivalent per quarter.
- Payment is made directly to the Beneficiaries account except for PTA and BTA which involves cash payments.
- Transactions are processed within the purview of CBN Foreign Exchange Manual
Benefits
- Direct access to purchase FX from the Bank or Official market
- Direct remittance to Beneficiary
- Cheaper Funds
- Superlative Turn Around Time
Remittances
Commercial Papers