Advances, Direct Payments, Collections & Letters of Credit
As an importer, you are often tasked with the complexities of receiving goods on time and facilitating timely payments. That’s where our vast correspondent banking network, subject expertise, dedicated assistance, best exchange rates and convenient digital tools give you the confidence of a financial partner that can create more value for your business.
Enjoy best exchange rates
on remittances
Vast Correspondent Network
& 22 currencies
Assistance from Certified
Trade Specialists
Import Collection
Your export or his bank sends the documents related to export directly to your bank (HDFC Bank) against payment (sight) or for payment against acceptance. As soon as we receive the documents, we will intimate you about the same. All you need to do is authorizes us to debit your account / accept the bill of exchange and the documents will be released to you.
Import Advancess
When your exporter agrees to dispatch the goods only after you pre-pay for the goods in advance in full or part payment. You can use our Import Advance service to remit the payment to your exporter.
Advance Import Remittance is one of the most widespread types of settlement in International Trade.
Import Letters of Credit
A Letter of Credit is a written commitment to pay, by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank (called the accepting bank, negotiating bank, or paying bank). A letter of credit provides guaranteed payment of a specified sum in a specified currency to the exporter, provided the seller meets precisely-defined conditions and submits the prescribed documents within a fixed timeframe, offering flexibility and better management of cash flows for the SMEs.
Import Direct Payment
When you receive the documents directly from your overseas supplier and you need to make payment against those documents you can approach your bank (HDFC Bank) along with the documents for sending the remittance for your imports. We will ensure that the remittance is done promptly i.e. your exporter receives timely payment