Important Details

International Banking

Global reach from your local bank

International Banking from Zions Bank
 

International Banking Information

To most of us, foreign banking is exactly that - foreign. That is why Zions Bank has a department dedicated to providing foreign currency and trade finance options* for its clients. Many businesses rely on Zions to process and manage their international transactions.

Foreign Currency Services

Make Zions Bank your trusted source for more than 80 currencies from around the globe.

Foreign Exchange Services

As the world marketplace continues to grow and evolve, every international business must be ready for the expanding opportunities and inherent risks associated with transacting business around the globe. Zions Bank offers a wide-range of foreign exchange products and services to assist our client’s in meeting these challenges and mitigating the associated risk.

Foreign Exchange Services is dedicated to helping clients succeed by offering tools to increase sales, protect profit margins, enter new markets, and build better relations with your suppliers or customers.

Show all/Hide all
  • Spot Contracts

    Receiving a foreign currency wire from a vendor in Spain? Need to pay a supplier in Switzerland?

    Spot foreign exchange contracts facilitate the most immediate conversion from one currency to another. Most often, settlement is completed within 2 business days (excluding holidays). Spot contracts are utilized when working with foreign currency payables and receivables. Zions Bank’s relationship with a network of global banks allows for effective and efficient transfer of funds between parties.

  • Forward Contracts

    Need to hedge "GBP" exposure for 2 months? Want to provide a price in foreign currency with no risk?

    Forward foreign exchange contracts are an effective tool for managing foreign currency exposures beyond spot contracts. Forward contracts allow clients to 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. The main purpose of a forward contract is to protect profit margins and mitigate market risk.

    A forward contract exchange rate includes two components. First is the spot exchange rate or the current value of the currencies involved. Second is the interest rate differential between the two currencies. The interest rate differential allows markets to adjust for the time value of money. 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 upon whether you are buying or selling a currency with a higher rate of interest.

  • International Wire Transfers

    Need to pay for inventory in China? Cover payroll in South Africa?

    Zions Bank can send or receive foreign currency wire transfers to more than 40 countries worldwide. From visiting your local Financial Center to using the online Treasury Gateway®, Zions offers clients several options for initiating foreign wire transfers. Payments are sent by SWIFT and are guaranteed to reach the beneficiary within 2 business days (excluding holidays). Please contact Foreign Exchange Services at (801) 844-7070 or your local financial center for more information and current exchange rates.

  • Foreign Check Clearing

    Received a foreign currency check for payment? Depositing a USD check drawn on a foreign bank?

    Zions Bank can provide cash-letter clearing for more than 15 currencies and USD checks drawn on a foreign bank. Financial Center approval required for this service. Please contact Foreign Exchange Services at (801) 844-7070 or your local financial center for more information and current exchange rates.

  • Foreign Draft Issuance

    Need to pay a small invoice in Canada? Buy a product from a global web-site?

    Often times, it can be more convenient and cost-effective to send a foreign draft for small payment needs. Drafts are available in more than 30 currencies and may be ordered at your local financial center (3-5 business days for delivery).

  • Foreign Currency

    We make it easy to transfer funds internationally, send a draft in foreign currency, and hedge your exchange risk for future transactions. Learn more.

Foreign Exchange Benefits

  • Buy and sell goods in terms familiar to suppliers or customers
  • Protect profit margins from currency fluctuations
  • Increase sales and market penetration
  • Build global relationships
  • Better manage your company’s financial statements

To learn more, contact Foreign Exchange Services:

Scott Stone
SVP, Manager
Phone: (801) 844-7065
Email: scott.stone@zionsbank.com
Jacob Hoecherl
Operations Manager
Phone: (801) 844-7063
Email: jacob.hoecherl@zionsbank.com

Trade Finance Services

Learn about the various types of letters of credit (including application forms), government international finance programs, foreign exchange services and access our World Business Watch newsletter publication.

International Banking Directory Location:

Zions Bank Building
One South Main Street, 4th Floor
Salt Lake City, UT 84133

International Banking Region Manager:

Mark Garfield
Phone: 801-844-7688
Fax: 801-322-5931
Email: mark.garfield@zionsbank.com

International Banking - Idaho:

Gary DeGrange
Phone: 208-395-2285
Fax: 208-424-7619
Email: Gary.Degrange@zionsbank.com

Lee Gibbs
Phone: 208-395-2287
Fax: 208-424-7619
Email: Leland.Gibbs@zionsbank.com

International Operations:

Anne Lane
Phone: 801-844-7687
Fax: 801-322-5931
Email: anne.lane@zionsbank.com

Sherry Durrant
Phone: 801-844-8573
Fax: 801-322-5931
Email: sherry.durrant@zionsbank.com

Gary DeGrange
Phone: 208-395-2285
Fax: 208-424-7619
Email: Gary.DeGrange@zionsbank.com

 

* Some options are subject to credit approval, terms and conditions may apply.

This page was last modified on Fri Apr 18 10:21:19 MDT 2014