Importing

BUSINESS BANKING

See how you could securely pay for goods and services from abroad, with documentary collections, letters of credit and bonds, guarantees and indemnities.

Import documentary collections

Reduce your risk and make secure payments around the world.

Global recognition

You can make payments to more than 200 countries, in over 50 different currencies. 

Payment flexibility

Make payments as and when you get the documents from your suppliers (‘sight payments’), or on a fixed date or regular basis.

Credit options

You might be able to negotiate a credit period, which can help your cashflow.

Built-in protection

Reduce risk with new suppliers, with evidence that your goods have shipped, such as documents of title (to confirm ownership of goods) or bills of lading (provided by the company transporting your goods that lists the items shipped).

Once you’ve agree the payment terms with your supplier, they or their bank will send us documents that grant you access to the traded goods. These are usually an invoice and the bill of exchange they owe you.

You’ll also get a collection schedule, which acts like a checklist of the document and specifies the conditions for the release of the payment to the supplier.

The terms of your payment will be agreed in advance. You can send payments as and when you get the documents from your suppliers (‘sight payments’), or on a fixed date or regular basis (‘term payments’).

You can talk to us to see if this might be suitable for your business.

Import letter of credit

Pay your suppliers, with confidence that your goods are delivered as expected.

Control over trades

You might be able to negotiate the terms of trade, which can be especially valuable when bargaining with new suppliers.

Proof of credibility

Suppliers will know that banks only provide letters of credit for creditworthy businesses, which can help your negotiating position.

We can send a letter of credit for you to your suppliers. This is a guarantee from us that you, as an importer, will pay them, as an exporter, the correct amount, on time. They’ll then only receive payment when they show us documents that comply exactly with the terms and conditions in the letter.

The documents they’ll need to present will depend on the terms you agree with them, but can include a bill of exchange, bill of lading, air waybill, invoice, insurance policy or certificate of origin.

You can talk to us to see if this might be suitable for your business.

Bonds, guarantees and indemnities

Recognised globally, bonds, guarantees and indemnities (BGIs) could reduce your risk if a supplier breaks a contract. We can help if these might be suitable for your business, and can tailor them to your needs.

  • Your advance payments are covered by the exporter’s bank, while your supplier is assured that you can meet your side of the deal
  • BGIs can be given to HMRC to help you set up a deferment account for customs and excise duty and import VAT, helping you manage your cashflow. 

Ready to talk to us?

Ask us to call you

We’re here to help

See how we can support you if you’re looking to expand internationally.

International payments

Send and receive secure payments to more than 200 countries, in over 50 different currencies. 

Overseas payments

International trading

If you’re looking to expand your business into other countries or market, see how we can help you.

Trading overseas

Exports

Protect your business and receive payments securely when trading abroad. 

Exporting support