Trading overseas
BUSINESS BANKING
If you’re looking to start or expand your business with imports or exports, see how we can help you.
Supporting your international trade
International payments
Send and receive secure payments to more than 200 countries, in over 50 different currencies.
Imports
Protect your business’s payments and goods when dealing with overseas suppliers.
Keeping your business safe
Plan ahead
When looking to take advantage of opportunities with new customers or suppliers abroad, it’s important to understand the region, the markets’ needs and your supply and delivery chains. And to have back-up plans in case anything goes wrong.
We can help you with ways to manage both your cashflow and foreign exchange risks.
You’ll also need to consider things like:
- Regulations in different countries
- The time it takes to transport goods internationally
- Differences in customer tastes and needs, and cultural sensitivities
- The impact on your existing operations.
Know your partners
In the same way you would when doing business in the UK, make sure the people you’re working with abroad are really who they say they are.
- Research them online and do background checks in professional and company registries
- Check what they say is true
- Consider insurance on high-value goods
- Think about using letters of credit or documentary collections to cover your goods and payments.
If something doesn’t seem right, don’t make payments, especially to a business overseas.
We can help you protect you and your business while providing your partners with certainty and security.
Stay protected
Not only should you make sure that you, your employees and physical assets are safe, including stored good and premises, but it’s critical to keep sensitive information secure too. This includes things like account numbers, passwords, log-in details, the names of people in your business and client details.
- Only share information with those you absolutely trust, and only if they definitely need to know it
- You should have legal and security agreements in place when exchanging anything confidential.
We have information on data security, and our Eagle Labs service, that you can use for help in this area.
If you ever thing you’ve been a victim of fraud, let us know straight away.
Ready to talk to us?
Other support organisations
There are government departments and other industry bodies that can help you when expanding abroad.
Department for Business and Trade
Compare international markets, create your export action plan and join the UK Export Academy for free training.
Chartered Institute of Export & International Trade
Giving organisations and individuals the expertise to trade effectively, sustainably and competitively through education and training.
Important information
Currencies can fluctuate, so your balances and payments could increase or decrease when converted to or from pounds sterling (GBP). When trading internationally, having currency reserves can be useful when managing payments to suppliers.(Return to reference)