Why Bangkok Bank
Never miss out on a business opportunity
With Bangkok Bank’s Asian network your international trade can be faster and easier for you and your business partners. Whether you are an exporter or importer you can complete your transaction within the same day
Faster fund transfers for exporters
Inward fund transfer, opening and advising letter of credit can be completed within the same day to increase liquidity
Reduce costs for importers
No need to transfer money in advance. Save time since you will receive the documents more quickly and cut unnecessary costs such as fees for applying for a shipping guarantee
Other Useful Information
Service Features
Asia Trade Fast Track is an international trade service for importers and exporters who have trade partners in any of 12 countries in Asia (Cambodia, Laos, Myanmar, Vietnam, Singapore, Malaysia, Indonesia*, Philippines, China, Hong Kong, Taiwan and Japan). Inward and Outward Fund Transfer services, Opening and Advising Letter of Credit and Bill services can be completed within the same day.
- Exporter: Able to manage their working capital better as receive payment faster with full value payment**
- Importer: Manage orders more effectively as exporters receive payment faster and make more room for taking a new purchase order
* Your transaction can be completed within the same day.
** If both you and your business partner have an account with Bangkok Bank and PermataBank Indonesia.
For Export Services
1. Inward Fund Transfer
Your business partners in 12 countries in Asia can transfer funds in Thai baht, US dollars and other currencies at the rate announced by the bank* for the payment of goods and services to your Bangkok Bank account on the same day that the bank was ordered to transfer. The instructions must be received by 4:00 pm. Thailand time. The money will be transferred to your Bangkok bank account on the same day.
* The exchange rate is subject to each branch of Bangkok Bank located in Asia
2. Advising Letter of Credit
You will receive advice of Letter of Credit on the same day that Bangkok Bank branch in Asia opens the Letter of Credit for your business partners.
3. Export Bill under Letter of Credit and Outward Bill for Collection
You will receive notification of the export documents checking result and a reference number from the courier services on the same day that you submit the export documents to Bangkok Bank in Thailand.
Service Channels
- Inward Fund Transfer service. You can open a deposit account to receive a funds transfer at Bangkok Bank branch nationwide.
- Advising Letter of Credit, Export Bill under Letter of Credit and Outward Bill for Collection. You can apply for these services at any Bangkok Bank Trade Finance Business Center or via iTrade*.
*Only be used for viewing Advising Letter of Credit, Export Bill under Letter of Credit and Outward Bill for Collection transactions.
Benefits
- Receive more liquidity with faster fund transfers since you can receive the money to your account on the same day transfer date if your business partner makes the transaction from a Bangkok Bank branch in Asia and PermataBank Indonesia.
- Save costs with no charge from a correspondent bank applies if both you and your business partner have an account with Bangkok Bank and PermataBank Indonesia.
- Helps your partner to manage the limit of the purchase of goods or services (Trading Limit) more effectively as exporters receive payment faster.
- You can start your production line or procurement process faster with an Advising Letter of Credit and you will be able to prepare the export documents and deliver goods to your buyers more quickly.
- You can use your Letter of Credit to apply for Packing Credit to finance your operations and speed up the production process.
For Import Services
1. Outward Fund Transfer
You can transfer money to a Bangkok Bank branch located in Asia and PermataBank Indonesia within the same day value for the payment of goods and services. The fund transfer can be executed in two ways:
- To a beneficiary with a Bangkok Bank account in Asia and PermataBank Indonesia
If the beneficiary has an account with Bangkok Bank in Asia and PermataBank Indonesia, the funds will be credited to the account of the beneficiary on the same day as the transaction date. This is subject to the terms of service of each Bangkok Bank branch.
* The beneficiary will receive the money transferred to account on the same day only in the case of international fund transfers in Thai baht (THB) and US dollars (USD)
- If the beneficiary does not have an account with Bangkok Bank in Asia and PermataBank Indonesia
If the beneficiary does not have an account with Bangkok Bank in Asia and PermataBank Indonesia, the funds will be transferred to the beneficiary's bank on the same day as the transaction date.
For international fund transfers in other currencies, there are different service conditions. You can inquire from the staff of Bangkok Bank or Corporate Service Center (66) 0 2031 7888
2. Opening Letter of Credit (L/C)
Your partners in Asia will receive advice of Letter of Credit on the same day that you apply to Bangkok Bank in Thailand.
3. Import Bill under Letter of Credit and Inward Bill for Collection
You will receive notification of the documents’ arrival on the same day that Bangkok Bank in Thailand receives the bill from a Bangkok Bank branch in Asia.
Service Channels
- Outward Fund Transfers are available at any Bangkok Bank branch and Trade Finance Business Center nationwide with an international funds transfer service and Corporate iCash service.
- You can use Opening Letter of Credit, Import Bill under Letter of Credit and Inward Bill for Collection services at any Bangkok Bank Trade Finance Business Center or via iTrade.**
**Only be used to apply for Opening Letter of Credit and viewing Opening Letter of Credit, Import Bill under Letter of Credit and Inward Bill for Collection transactions.
Benefits
- Increase liquidity and help financial management since there is no need to transfer money in advance for transactions with Thai baht (THB) or US dollars (USD) if your business partners have an account with a Bangkok Bank branch in Asia and PermataBank Indonesia.
- Gain a trusted and good relationship with partners because payments can be made on time and partners receive full payment for the product because there is no need to pay for foreign agent banks (Correspondent Bank's Charge) in case you and your partner have an account with Bangkok Bank and PermataBank in Indonesia.
- Increases the chance of receiving new orders because the time of payment to partners is clearly known. This makes it possible to predict the arrival schedule of the goods and enables you to manage inventory efficiently.
- Reduce unnecessary expenses. due to receiving documents faster Helping you to reduce the need for a shipping guarantee.
If you would like to transfer funds between countries in Asia or “Asia Inter-Remittance Same Day” for payments of goods and services with Thai baht (THB) or US dollars (USD) to business partners within the same day, simply open an account with a Bangkok Bank branch in Asia, and PermataBank Indonesia.
Terms and Conditions
1. Customers must be a juristic person registered in Thailand or 12 countries in Asia which are Cambodia, Laos, Myanmar, Vietnam, Singapore, Malaysia, Indonesia, Philippines, China, Hong Kong, Taiwan, and Japan (Apart from Outward Fund Transfers, the payee can be either a juristic person or an individual.)
2. Outward Fund Transfer and Inward Fund Transfer
2.1 The funds transfer can only be used for the payment of goods and services.
2.2 The transaction currency must be in Thai baht, US dollars and other currencies as announced by the bank and follow the regulations of those countries.
2.3 Outward Fund Transfer. Your business partners who received the money into an account on the same day of the transfer date must have a deposit account with a Bangkok Bank branch in Asia, and PermataBank Indonesia. The transaction currencies must be Thai baht (THB) or US dollars (USD). The customer must submit the application, together with all required documents, by 1.00 p.m. on any business day to a Bangkok Bank branch that provides an Outward Fund Transfer Service or Trade Finance Business Center nationwide which offers the international fund transfer service. Customers who would like to transfer funds to Japan must submit all required documents by 11.00 a.m.
2.4 Customers who would like to transfer funds to Bangkok Bank’s branches and PermataBank Indonesia in Asia on the same day via the Corporate iCash service must first apply for the Corporate iCash service.
2.5 Inward Fund Transfer. Customers will receive the money in their Bangkok Bank account in Thailand on the same day the bank was ordered to make the transfer and the transfer transaction is made by 4:00p.m. Thailand time.
3. Opening and Advising Letter of Credit and Bill
3.1 The transaction must be between Bangkok Bank in Thailand and any Bangkok Bank branch in Asia except Brunei.
3.2 For exporters
- Advising Letter of Credit. Customers will receive an advice of Letter of Credit on the same day as the business partners submits the application, together with all required documents, to the Bangkok Bank branch in Asia within the time specified by each branch.
- Export Bill under Letter of Credit and Outward Bill for Collection. Once the customer has submitted correct and complete export documents to Bangkok Bank by 2:00p.m., the customer will receive the document checking result and the reference number from the courier service on the same day that they submit the export documents to Bangkok Bank.
- The time it takes for the delivery of export documents is the responsibility of the courier services.
3.3 For importers
- To open a Letter of Credit to a beneficiary on the same day, the customer must first have an approved credit line with Bangkok Bank and submit the Letter of Credit application, together with all required documents, to Bangkok Bank before 12:00p.m. except for Myanmar, China, Hong Kong Special Administrative Region of the People's Republic of China, Taiwan and Japan where customers are required to submit the application by 11:00a.m. Those who do not request same day Letter of Credit opening can submit their application until 4:00p.m.
- Import Bill under Letter of Credit and Inward Bill for Collection. Customers will receive notification of documents’ arrival and a request for payment (Sight Bill) or acceptance of B/E (Term Bill) in order to receive import documents on the same day that Bangkok Bank receives the bills by 2:00p.m.
- Bualuang iTrade, customers can apply to open the Letter of Credit only.
4. Terms of service and fees are subject to Bangkok Bank and the beneficiary's bank.
5. Bangkok Bank reserves the right to change or cancel the service without prior notice.
For more information and international trade advice, call us at Corporate Service Center (66) 0 2031 7888 during the business hours of the Bank.
Tools & Assistance
For more information, call us at
Corporate Service Center
(66) 0 2031 7888
Tools & Assistance
For more information, call us at Corporate Service Center (66) 0 2031 7888
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