TRADE SERVICES FOR CORRESPONDENT BANKS
Wachovia offers your institution enhanced collection and reimbursements for all of your letter of credit processing needs.
Faster Bank-to-Bank Reimbursements
- Wachovia is a leader in bank-to-bank reimbursements. We offer the full array of L/C reimbursement processing options in U.S. Dollar, euro and yen, through our TradePay.740 payment offering
- Our fully automated processing system allows you to concentrate your L/C reimbursements through one bank while helping to assure fast and error-free transactions
- Our fully automated processing systems have direct interfaces to SWIFT and telex sources, ensuring prompt turnaround of authorizations and claims
- You will also benefit from our pre-advice option, which provides notification of impending debit to your account for claims received, facilitating and improving cash management
Faster Export Bill Collections
- We can speed the collection of your documentary items in U.S. dollar, euro and yen under L/Cs issued anywhere in the world with our Trade.Export Collect product
- We can quickly trace for payment
- We offer a wide array of comprehensive reporting options via our automated collection systems, including report delivery via the Internet
TradeXChange
The TradeXchange is a web-native, collaborative supply chain management front-end system offered to select global financial institution and corporate customers on a private label basis. The system enables trading partners to work more closely together and manage their trade processes in a more efficient and effective way. The TradeXchange fully supports your existing Letter of Credit and Collections processes, but adds enhanced features and functionality around Open Account processing and Supply Chain Finance. It is compatible with Swift's TSU.
The TradeXchange is a major step towards our vision of the future of international trade.
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