Companies that conduct business internationally – either making or receiving payment in foreign currency or sending or receiving goods – need to manage risk associated with the current global financial market volatility.
Opus Bank’s International Treasury Management Services are designed to address the needs of clients that do business internationally. Our team will work with you to determine the most advantageous options for your international transactions.
Foreign Exchange Services
- Payments – Make and receive payments in foreign currency, convert a foreign currency into US Dollars, or convert US Dollars into foreign currency as part of a wire transfer (also referred to as “spot”).
- Risk Management – Fluctuations in foreign exchange rates can have a significant impact on the outcome of a transaction, and can turn a profitable transaction into a loss. Managing foreign exchange risk, also known as “hedging,” is typical of transactions that will be paid or received in the future.
- Letters of Credit: Letters of Credit are financial trade instruments used to facilitate international transactions while reducing risk for both buyers and sellers. We provide a full range of letter of credit services, covering a variety of needs, including:
- Export/Import Letters of Credit (ensure payment will be received if conditions of the Letter of Credit are met)
- Standby Letters of Credit (a guarantee of payment issued on behalf of our clients that is used to fulfill a contractual commitment with a third party)
- Documentary Collections: Provides for control of shipping documents through the buyers' and sellers' banks and helps facilitate payment when the buyer agrees to pay for the goods.