The bank offers complete international banking solutions for individuals and businesses to transact beyond borders. The bank takes pride in the speed and efficiency with which funds are remitted worldwide, as well as the extensive knowledge of exchange control regulations. Corporates are able to process exports and imports transactions efficiently through the bank with the expertise provided by the International Banking Department. Individuals are able to send and receive funds, and also have access to services like paying tuition fees for students studying in foreign universities.
The bank expertly handles incoming payments and processes outgoing international payments in major currencies with speed and at very competitive prices. Payments for the importation of raw materials, vehicles, services, and others are some of the remittances facilitated by the bank.
POSB handles the administration procedures for its exporting clients which include the issuance and acquittals of CD1s, CD3s, TRAS 2, and GSD forms. In addition, the bank also maintains special FCA Export Accounts for its exporting clients.
POSB establishes import LCs and also advises export LC s on behalf of its clients and correspondent banks.
A-rated International Guarantees for import and export contracts can be arranged by POSB for its customers.
The Bank also provides an intermediary role for documents of title on behalf of customers and foreign correspondent banks.
POSB handles structured commodity finance deals to import strategic commodities such as maize meal, wheat, soya beans and fuel.
The bank offers exchange control services such as offshore loan approvals and registrations, seeking exceptional authorities for its clients, registration of importers and exporters in the RBZ systems as well general Exchange Control Advisory services.
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