Your Success Comes First.
INTERNATIONAL BANKING
First Business Bank can help you manage your international banking needs. Call us today at 262-792-1400 to learn how we would approach your particular business needs.
INCOMING & OUTGOING WIRE TRANSFERS
- Originates in U.S. dollars or foreign currency.
- Value dated for settlement in near future (typically next business day).
- Fund settlement is faster than sending a check.
- Large wire transfers may receive preferred rates.
- Funds received at beneficiary’s bank are immediately available for withdrawal and are guaranteed.
- Client information (purchase orders or remittances) can be transmitted.
- Ability to trace if necessary.
DOCUMENTARY LETTERS OF CREDIT
- Promise to pay guaranteed by First Business Bank.
- Satisfies requirement set by vendor or other interested party.
- Creates credit availability to make payment.
- Able to purchase goods and services otherwise paid for in advance.
- Product must conform with rules and specifications for payment to be made.
- Fee is less than the cost to borrow funds.
FORWARD CONTRACTS
- Wire of funds on a specified date at a contracted, preapproved rate.
- Client must have funds available when contract matures.
- Rate is negotiated at the time of purchase and guaranteed.
- Various options available.
- Specified date can be at various future dates; for example, three, six or 12 months.
FOREIGN DRAFTS
- Check drawn on foreign bank in foreign currency.
- Small dollar denominations.
- Avoids check(s) going for collection and delays in shipment.
- Avoids fee applied to converting check drawn in U.S. dollars.
OPTIONS
- Allows for purchase of foreign currency at a future date.
- Call contract at any time before maturity.
- Collateral is typically not needed in these transactions.
- Option to set rate range based on risk tolerance