International product selector

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Because you told us "##TypeQ1##" and you intend to use "##TypeQ2##" as a guide you may want to consider the following products and services:

  • International Payments

International Payments allow you to move money across borders. They can be made in sterling or other currencies, and can be requested by any client who needs to make an overseas payment electronically. You can make international payments online to almost any country if you are registered for Business Internet Banking.

  • Business Current Accounts

You can make Sterling payments from, and receive international payments to your [Lloyds/Bank of Scotland] business current account. 

If you are not an existing customer, Find out more about our Business Current Account. 

  • Virtual Bank Service

If your business needs to receive payments in another country the Virtual Bank Service makes it possible to without the cost and administration of setting up a full banking relationship overseas. 

  • Foreign Exchange Risk Management

When conducting business internationally you may become exposed to exchange rate movements for foreign currencies and the risks associated with this. Identifying and appropriately managing your foreign currency exposures is crucial for making sure you get the most out of your international agreements.We have a wide range of foreign exchange solutions to suit your specific currency needs and business objectives, varying from online self-service through to a one-to-one relationship with a FX specialist for hedging requirements.

  • Foreign Currency Accounts

Open an account in a currency of your choice; enabling you to hold funds, make and receive international payments to meet your businesses international trading requirements.

  • SEPA Direct Debit

SEPA Direct Debits are a quick and cost effective way of collecting invoices in Euros from known counterparties. The service can simplify how your business manages payments to a single method, in often a quicker, cheaper and simpler method compared to regular international payments. 

  • SEPA Credit Transfer

SEPA Credit Transfer is a convenient and efficient way to make planned non-urgent Euro payments throughout the Single Euro Payment Area (SEPA). It is suitable for businesses that regularly make non-urgent Euro payments, and it can reduce transaction costs and remove the need for overseas Euro accounts.

Your selected key priorities:

  • Goods/services that I purchase will be as agreed

Because you have selected this priority, as a guide you may want to discuss the following with us:

Import Letters of credit

A Letter of Credit (L/C) is issued by the buyer’s/importer’s bank and sets a range of terms and conditions, which can be evidenced by documents presented by the seller/exporter. The L/C is then forwarded to the seller’s/exporter’s bank who ‘advise’ it to the seller/exporter. Documents presented by the seller/exporter are then checked by both banks and the buyer’s/importer’s bank is committed to pay, or accept to pay at a future date, on behalf of their client, if the documents are compliant.

  • Paying in advance for the goods/services

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Import Documentary Collections

Documentary Collections provide protection and a level of security for both the seller/exporter and the buyer/importer, reducing risk for all. A documentary collection is when a bank handles documents relating to the supply of goods by an seller/exporter, for the purpose of obtaining payment, or the acceptance of a guaranteed future payment, from a buyer/importer.

Because you have selected this priority as a guide you may want to discuss the following with us:

  • Renegotiating payment terms with a supplier

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Export Documentary Collections

Documentary Collections provide a level of security for both Seller/Exporter and Buyer/Importer. Through the Collection process, the seller’s/exporter’s documents are forwarded by their bank to a bank acting on behalf of the buyer/importer. The buyer’s/importer's bank will then release the documents only upon payment, or a guarantee of future payment, from the importer.

 

  •  Being in charge of my goods, until payment is received

    • Because you have selected this priority,  as a guide you may want to discuss the following with us:

    Export Documentary Collections

    Documentary Collections provide a level of security for both Seller/Exporter and Buyer/Importer. Through the Collection process, the seller’s/exporter’s documents are forwarded by their bank to a bank acting on behalf of the buyer/importer. The buyer’s/importer's bank will then release the documents only upon payment, or a guarantee of future payment, from the importer. importer.

 

  • Being guaranteed that payment will be received

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Export Letters of Credit

A Letter of Credit (L/C) is issued by the buyer’s/importer’s bank and sets a range of terms and conditions, which can be evidenced by documents presented by the exporter. The L/C is then forwarded to the seller’s/exporter’s bank who ‘advise’ it to the seller/exporter. Documents presented by the seller/exporter are then checked by both banks and the buyer’s/importer’s bank is committed to pay, or accept to pay at a future date, on behalf of their client, if the documents are compliant (correct).

  • Reassuring the buyer that the goods/services will be as agreed

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Foreign Guarantee

A Guarantee (which can also be called a bond) is issued by a bank on behalf of their clients to support their contractual obligations, either performance or financial, to the buyer/importer. The bank commits to pay upon a claim received from the buyer/importer, under the terms of the guarantee, indicating a default under the contract. It is one of the most widely used instruments and extremely versatile.

Standby Letter of Credit

Similar characteristics to a guarantee commonly used in the UK to support payment obligations under a shipment of goods. Also used in lieu of a Guarantee in the US market.

  • Managing my Foreign Exchange Risk throughout the sale & purchase

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Foreign Exchange Risk Management

When conducting business internationally you may become exposed to exchange rate movements for foreign currencies and the risks associated with this. Identifying and appropriately managing your foreign currency exposures is crucial for making sure you get the most out of your international agreements. We have a wide range of foreign exchange solutions to suit your specific currency needs and business objectives, varying from online self-service through to a one-to-one relationship with a FX specialist for hedging requirements.

  • Managing my Foreign Exchange Risk throughout the purchase

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Foreign Exchange Risk Management

When conducting business internationally you may become exposed to exchange rate movements for foreign currencies and the risks associated with this. Identifying and appropriately managing your foreign currency exposures is crucial for making sure you get the most out of your international agreements. We have a wide range of foreign exchange solutions to suit your specific currency needs and business objectives, varying from online self-service through to a one-to-one relationship with a FX specialist for hedging requirements.

  • Managing my Foreign Exchange Risk throughout the sale

Because you have selected this priority,  as a guide you may want to discuss the following with us:

Foreign Exchange Risk Management

When conducting business internationally you may become exposed to exchange rate movements for foreign currencies and the risks associated with this. Identifying and appropriately managing your foreign currency exposures is crucial for making sure you get the most out of your international agreements. We have a wide range of foreign exchange solutions to suit your specific currency needs and business objectives, varying from online self-service through to a one-to-one relationship with a FX specialist for hedging requirements.

You did not select any of the listed key priorities, if you have any other priorities or concerns please discuss these with us.

Next Steps

Businesses with a Relationship Manager

If you would like to discuss your results with us please contact your named Relationship Manager

If you are new to Bank of Scotland Commercial Banking call us on 0345 606 0286 to talk to one of our Relationship Managers.

We are available from 8am to 8pm Monday to Friday and 9am to 1pm on Saturday.

This is not a comprehensive list and additional products may be available to suit your business needs. If you would like to find out more about international products and services, please click here

Businesses without a Relationship Manager

If you would like to discuss the results with us, please call our Business Management team on 0345 300 0268

We are available 7am to 8pm Monday to Friday and 9am to 2pm on Saturday, except on UK bank holidays.

This is not a comprehensive list and additional products may be available to suit your business needs. If you would like to find out more about international products and services, please click here

Documentary Letters of Credit are subject to internationally agreed banking rules

(ICC Uniform Customs and Practice for Documentary Credits)