Trade Finance Services – Non-Funded Facilities
Bills for Collection
Bills for Collection are instruments designed for the settlement of a payment obligation between a buyer and a seller. They are often used in cases where the seller and the buyer have an established business relationship.
As opposed to Documentary Credits, Bills for Collection do not constitute any commitment or obligation on the part of the Bank to pay the seller if the buyer does not have available funds to effect payment.
Wise simply acts as an intermediary between the seller and the buyer to collect the value of the documents, by handling the Bills for Collection documents based on the seller’s instructions.
What we offer
- Inward Bills for Collection are Bills for Collection received in favour of our client i.e. the drawee (when our client is the buyer/importer).
- Outward Bills for Collection are Bills for Collection sent by our Bank to the drawee’s bank upon the request of our client i.e. the drawer (when our client is the seller/exporter).
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SERVICES FEATURES
SAVINGS
Term Deposits | Notice Accounts | Special Products
ACCOUNTS
Current Accounts | Interest Bearing Accounts
FINANCING SOLUTIONS
Loans | Overdrafts | Trade Finance
TRANSFERS AND PAYMENTS
Local Transfers | International Transfers
TREASURY SERVICES
FX | Market Risk Solutions
WEALTH MANAGEMENT
Custody | Consultancy Services
