Helping to secure payments for the export business.
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.
Features & Benefits
- 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.
- 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.
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
Help and Guidance
For all service related queries please visit our Help Centre.
Accounts in all major currencies to facilitate international trade
Fast and efficient international payments
Trade Finance & Guarantees
Support for winning business and managing risk internationally
Foreign Exchange Risk Management
Eliminating uncertainty for your business so you can meet your objectives
Interest Rate Risk Management
Helping your business manage its exposure to interest rate fluctuations