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Business International business Exporters Methods of payment

About exporter methods of payment

Overview

Overview

International trade offers great opportunities, but dealing with overseas partners also presents challenges. This includes finding payment methods that are acceptable to you and your buyer.

As an exporter you will want the highest price, payment as soon as possible and control over the goods until payment is received. Your buyer will want to minimise costs, defer payment and receive and examine those goods before payment.

Our solutions for a commercial compromise include:

  • Clean payment
  • Open account
  • Documentary collection
  • Documentary credit
  • International Money Transfer

Clean payment/Open account

Clean payment/Open account

Clean payment

  • The buyer pays by telegraphic remittance or by bank draft

Open account

  • A negotiated agreement between exporter and buyer
  • Terms specify how much the buyer can order and when/how payment will be made


Documentary collection and credit

Documentary collection and credit

Documentary collection

  • Consists of a bill of exchange and various shipping documents (e.g., invoice, transport document, insurance policy) needed by buyers to take delivery
  • Documents are released to the buyer in exchange for immediate payment or endorsement of the bill of exchange as a promise to pay at a future date

Documentary credit

  • A bank guarantee of payment
  • Payment is made by the buyer’s bank once the exporter presents relevant shipping documents and meets any other pre-negotiated conditions 

International Money Transfer

International Money Transfer

  • The buyer authorises their bank to debit payment from their account and electronically credit the exporter
  • Cleared funds are typically received the same day

Related products

Managing exporting risk

We offer exporters with risk management of currency during the exporting process.

Learn more

Financing options

There are several financing options available to help exporters manage cash flow.

Learn more

Talk to us

Call 1800 222 398

Call 1800 222 398

New Foreign Currency Account enquiries

(8:30am-5:00pm AEST, Mon-Fri) 

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Important Information

As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 59kb).