Back to: International Trade and Payments

 

Whatever your business, Westpac has the products, services and international trading know-how to get you going on a global scale.

Import services
Export services
Foreign currency accounts and risk management services

Import services

Importing goods into Australia and paying the overseas supplier can be a complicated process, especially for businesses looking to import for the first time. That's where Westpac can help.

• Finance an overseas payment in one of the major currencies with Westpac's Trade Finance
• Guarantee payment to your supplier with Westpac's Import Documentary Credit
• Arrange collection of bills and documents from your supplier's bank as well as process payment using our Import Documentary Collections service
• Pay your supplier (before or after shipment) on an open account basis with a Telegraphic Transfer

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Export services

Organising the shipment of goods overseas and getting paid in return can be daunting for the first-time exporter. But not if you partner with Westpac.

• Get cashflow assistance, whether you need pre- or post-shipment funds, with Westpac Trade Finance options
• Take control of your foreign exchange dealings and mitigate country risks with Export Documentary Credit Confirmations (country and bank)
• Guarantee payment from the buyer's bank (assuming certain terms and conditions are met) using Export Documentary Credit (country and bank risk)
• Westpac can collect your export proceeds on your behalf with our Export Documentary Collections service
• Organise payment from your client (before or after shipment) on an open account basis with a Telegraphic Transfer

Foreign currency accounts and risk management services

There are numerous scenarios where Westpac can help manage your foreign exchange needs using Onshore Foreign Currency accounts. These include:

• Transacting in a foreign currency
• Holding or repatriating funds earned overseas back to Australia
• Transferring payment to an overseas-based parent company

Additionally, trying to keep on top of foreign exchange rates can be challenging to the uninitiated or even experienced currency trader. Whether you're exporting or importing, a Forward Exchange Contract could be the solution to better manage the risks presented by fluctuating exchange rates.

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