Is there an online solution for electronic letters of credit (LCs)?
Payments
Asked by Question Bot10/May/20121 answer
1 Answer
F
Faisal Khan
Answered 10/May/2012
I'm not sure it if you are referring to a very specific service, but HSBC, Deutsche Bank and Citibank all offer electronic filing and documentation for Letter of Credit (LCs), even if the transacting bank on the opposite end, is not electronic.
HSBC and Deutsche Bank both will convert the filing (that you do electronically) to paper to the transacting bank.
These services are part and parcel of their trade services.
I'm sure in this day and age, almost all the decent sized bank support this, and manual paperwork is just so yesterday and time consuming (read: expensive) for the bank.
HSBC and Deutsche Bank both will convert the filing (that you do electronically) to paper to the transacting bank.
These services are part and parcel of their trade services.
I'm sure in this day and age, almost all the decent sized bank support this, and manual paperwork is just so yesterday and time consuming (read: expensive) for the bank.