Collection Services

Keep control of your payments with collection services.

If your business is trading across international borders, you need to ensure you get paid securely in a way that suits your needs and the market you are trading with. Allied Irish Bank (GB) offers collection services to help ensure payment for companies that are trading internationally. Collections allow the exporter to maintain control within the banking system over the goods shipped until payment, or an undertaking to pay at a future date (Acceptance) is made. The importer will pay for goods purchased after taking receipt of the relevant financial/shipping documents relating to the goods.

 

There are two types of collection services:

1. Clean collection: involves the collection of a financial instrument e.g. bill of exchange, promissory note or cheque.

 

2. Documentary collection: the collection of commercial and shipping documents (e.g. bill of lading, airway bill, certificate of origin, invoice, packing list etc.) with or without an accompanying financial document.

  • --------------------Start of Accordion---------------------------

    Features & Benefits

    For Importers

    • Payment is only taken from your account once you have collected the shipping documents representing the goods purchased from your bank.
    • When accepting bills of exchange, credit lines are not 'tied up' as with a Letter of Credit, unless the bill of exchange requires a bank guarantee. Accepted bills of exchange can be guaranteed by us.

     

    For Exporters

    • Security – your bank retains control over the documents until the importer complies with the conditions set out in the Collection Letter.
    • Accepted bills of exchange may provide access to additional sources of finance.

    --------------------End of Accordion---------------------------

--------------------Start of Accordion Container---------------------------

Click on edit button to enter Accordion Header

-------------------End of Accordion Container---------------------------

Talk to Us

Simply call +44 (0)20 7309 3170 (lines are open Monday to Friday 8am to 5pm excluding Bank Holidays). We’ll be happy to answer any questions you might have about our Collection Services. 

 

You can write to us at:

 

Allied Irish Bank (GB)

Customer Treasury Services

1st Floor, St Helen’s

1 Undershaft

London

EC3A 8AB

 

 

 

Help and Guidance

 

Help Centre

For all service related queries please visit our Help Centre.

 

 

 

Related Products