Processing shipping documents under Export Letter of Credit. Remittance Of export Documents for Collection. BankWest can forward your export shipping documents to the importer's bank, for collection of sale proceeds. Advances in either foreign or local currency against an export receivable covered by Letter of Credit, or, Documents for Collection. Where an Exporter needs to pay a supplier, or cash flow requires the export receivable to be brought forward, BankWest can advance the proceeds in either the denominated currency or Australian dollars.
Interest is usually payable at maturity.
Foreign Currency Accounts BankWest offers both At Call and Fixed Term Foreign Currency Accounts in most currencies. The interest rate, which is market linked and monitored on an ongoing basis, is calculated daily and capitalised to the account on a monthly basis for Call Accounts, and at maturity for Fixed Term Accounts. Normal transaction fees apply to these accounts. BankWest offers Spot and Forward Foreign Exchange pricing on all major currencies a well as a wide variety of other currencies. Our global network enables us to monitor foreign currency orders on a 24-hour basis.