FAQs

    • What is the International Trading Account?
      The International Trading Account is a current account bundled with trade and foreign exchange services. This product has been specially created to cater to the banking requirements of international traders (importers / exporters)
    • What are the key features of an International Trading Account?
      • Current account facilities for your business banking requirements
      • Trade and remittance services - special pricing on trade and remittance services for local and overseas transactions
      • Access to a dedicated relationship manager
      • Access to our proprietary corporate internet banking platform, Straight2Bank to conduct payments, trade and foreign exchange transactions online
      • Preferential pricing on foreign exchange transactions
    • What are the requirements of an International Trading Account?
      You need to maintain only quarterly trade throughput in the account
      • How does I avail of special pricing for trade and remittance services?
        • At the time of account opening, the customer commits to the volume of trade in Rs. for the quarter
        • Based on this the pricing for Trade and Remittance service is agreed with the customer.
      • What are the variants under International Trading Account?
        International Trading Account variants are based Quarterly Trade Throughput (QTP) in the account that the customer commits at the time of account opening:
        • ITA 25: QTP above Rs. 25,00,000
        • ITA 50: QTP above Rs. 50,00,000
        • ITA 100: QTP above Rs. 1,00,00,000
    • Which entities are eligible for an International Trading Account?
      • Sole proprietors / proprietorship firms
      • Partnership firms
      • Public- and private-limited companies (including closely-held limited companies)
    • What is the range of services offered under International Trading Account?
      Current account:
      • Free multi-city cheque book
      • Free demand drafts drawn on our branch locations
      • Free demand drafts on correspondent bank locations up to Rs. 50 lakhs per month
      • Free national electronic funds transfer
      • Real-time gross settlement transfers
      • Free cheque pick up once a day*
      • Free monthly / weekly account statements
      • Free Business debit card for life
      • Access to corporate online Banking platform (Straight2Bank), where you can carry out Payments, Trade and FX transactions. Ability to print cheques basis facsmilile signature at 33 locations across India. Online request for demand draft issuance. Access to multiple users with maker checker option for transaction option. Batch upload for bulk and multiple payments in spreadsheet format.
      • Foreign Exchange Services
      • Preferential FX margins for over 100 currencies
      • Trade Services
        • Export services
        • Import services
        • Domestic trade services
    • How can you open an International Trading Account account?
      You need to submit the following at the time of account opening:
      • Account opening form
      • Identity and proof of address
      • Additional documentation may be required upon application depending on the facilities sought for (eg. trade, internet banking, doorstep banking etc)
    • What are the types of facilities offered under trade?
      Depending on the needs of the customers, facilities include:
      • Export services documentary collection, LC advising, LC transfer, remittances
      • Import services such as letters of credit, documentary collection, remittances
      • Bank guarantees

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