- Enhanced protection against currency appreciation or depreciation
- Stronger negotiating power with international suppliers and customers
- Transact international trade in terms familiar to your suppliers and customers
- Preservation of international business revenues
- Improved accessibility to new overseas markets for business growth
- Broad range of foreign exchange risk mitigation services
As the global marketplace continues to grow and evolve, companies can benefit from proactively strategizing to maximize the expanding opportunities and risks associated with transacting business around the world. Zions Bank offers a wide range of global trade services to assist our clients in meeting these challenges and mitigating the associated risks.
Delivering Global Solutions
At Zions Bank, we speak the language of international trade. We provide access to experienced trade specialists, smart financial solutions for leveraging global opportunities, and an organization dedicated to serving companies of all sizes. Some of the services we offer include:
- Import/Export Letters of Credit
- Standby Letters of Credit
- Documentary Collections
- Credit Insured Lending
- EXIM & SBA Export Working Capital Programs
- Trade Payables Finance
- GSM-102 (Government Insured Agricultural Export Program)
EXIM Bank Working Capital
Dependable sources of working capital are the key for a company’s growth and stability. Zions Bank uses the EXIM Bank Working Capital Guarantee Program to support the export of U.S. goods and services. As one of ten Fast Track Delegated Authority lenders in the U.S., we have over 20 years of experience delivering this unique financing solution.
- EXIM Bank Certified Lenders
- Ability to Commit up to $10MM per borrower under Delegated Authority and $25MM under Fast Track
- ExIm Bank Small Business Lender of the Year (2014)
Trade Payables Finance
Trade Payables Finance (TPF) is a lending solution that is ideally tailored to companies that purchase product overseas, specifically addressing inventory challenges that can arise. As opposed to financing a moveable level of inventory, TPF focuses on a specific transaction, enabling a company to finance seasonal peaks of inventory, longer inventory turnover, work-in-process, larger orders that require special financing, or periods when a large inventory build-up is required.
Our TPF program can also enable a borrower to take advantage of supplier discounts. It’s adaptable for domestic purchases, and it can be used in conjunction with a letter of credit or an open account purchase.
Foreign Exchange Solutions
Receiving a foreign currency wire from a vendor in Spain? Need to pay a supplier in Hong Kong?
Spot contracts are utilized when working with foreign currency payables and receivables. They facilitate making the most immediate conversion from one currency to another. Settlement is typically complete within two business days (excluding holidays).
Need to hedge GBP exposure for two months? Want to provide a price in foreign currency with no risk?
The main purpose of a forward contract is to protect profit margins and mitigate market risk. Forward foreign exchange contracts are an effective tool for managing foreign currency exposures beyond spot contracts. They let you secure an exchange rate today for settlement at a future date.
Open-window forward contracts add flexibility and are used for settlement during a future time period.
A forward contract exchange rate includes two components. Forward contract rates offer pricing that reflect which currency is more attractive to hold beyond spot. A forward contract rate is either more or less attractive compared to the current spot rate, depending on whether you're buying or selling a currency with a higher rate of interest.
Need to pay for inventory in China? Cover payroll in Finland?
Zions Bank can send or receive foreign currency wire transfers to more than 60 countries worldwide. From visiting your local branch to using the online Treasury Gateway®, Zions offers clients several options for initiating foreign wire transfers. Contact Foreign Exchange Services at 801-844-7070 or your local Financial Center for more information and current exchange rates.
Received a foreign currency check for payment? Depositing a USD check drawn on a foreign bank?
Zions Bank Foreign Exchange Services can provide cash-letter clearing for items drawn in Canada. Bank approval is required for this service.
eFX+ Foreign Exchange Online Trading Portal
eFX+ is Zions Bank’s innovative online foreign exchange trading portal. It provides access to real-time foreign exchange rates and enables customers to quickly and efficiently complete their company’s foreign exchange transactions. The robust capabilities and set of services offered by eFX+ can be customized to meet your company’s needs for managing foreign exchange risk in real time. Benefits include:
- Streaming exchange rates for Spot, Forwards, and Swaps
- Self-directed Foreign Currency Accounts - view balances, initiate payments
- Batch deal trade entry and file upload capability
- Flexible configuration of users, max deal size, daily approvals
- 128-bit SSL encryption system security
- Automated email notifications
- Single sign-on capability with Zions Bank Treasury Gateway
- Client administrator for user setup, password resets
- Enhanced transaction reporting
- Daily market commentary