About importer methods of payment


While international trade offers great opportunities, dealing with overseas partners also has its challenges. This means finding a payment method that is acceptable to you and your supplier.

As an importer you'll want to minimise costs, defer payment for as long as possible and receive and examine the goods before committing to payment.

Suppliers will want the highest price for their goods, expect payment as soon as possible and to maintain control over the goods until payment is received.

Our solutions for a commercial compromise include:

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

Clean payment/Open account

Clean payment

  • Payment is made by telegraphic remittance or any other approved payment method

Open account

  • A negotiated agreement between importer and supplier
  • Terms specify how much can be ordered and when/how payment will be made  


Documentary collection and credit

Documentary collection

  • Consists of a bill of exchange and various shipping documents (e.g. invoice, transport document, insurance policy) needed to take delivery
  • Documents are released 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 on receipt of relevant shipping documents and once the supplier meets any other
    pre-negotiated conditions  

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


Financing options

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

Learn more

Managing Importing Risk

Be aware of potential risks and fraud and to understand strategies that can help protect your importing business.

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) 

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).  

Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the loan offer. Bank fees and Government charges may apply.