Foreign Currency Accounts
Foreign Currency Loans
Making International Payments
Receiving International Payments
Foreign Exchange
 
Receiving International Payments

Not the most common method of receiving payments from abroad, but if you do we can help you collect the funds. The Bank will process drafts in foreign currency on a negotiation or a collection basis.

Payment by negotiation

PierreCapitale normally negotiates, with recourse, drafts drawn in foreign currency on both resident and non-resident banks. If the payment is not honoured by the drawee bank the Bank will subsequently debit the amount of the draft, plus charges, from customer's account .Even so there might be instances where the cheque / draft will be sent for collection, e.g. drafts for a high amount, drafts drawn on a high risk country.  

Payment by collection

There are instances where drafts are accepted for collection. The draft will be sent to the bank on which it is drawn and the amount will not be credited to your account until the value of the draft has been received . This can take some time, depending on the country the payment is coming from and the bank clearing the payment.