In today’s global economy, the international financial world offers many opportunities to those who are prepared for the challenges. The Global Banking team at First National Bank, combines their deep knowledge of the field, intuitive technology and a consultative approach to bring you simple, cost-effective solutions for navigating the global finance scene with confidence. With our help, you can maximize your working capital and mitigate the risks the come from the operating in a global economy.
Dealing both online and via your global banking representative, First National Bank gives you the speed and accuracy you need when transferring funds. With over 90 currencies available, First National Bank has you covered for your standard spot and/or forward contract transactions
Foreign Cash Letter and Foreign Check Collections
Checks drawn off a foreign institution can be cleared using our foreign cash letter or check collection process. Foreign check items can be cleared on cash letter utilizing our correspondent network to reduce time and risk while providing you same day credit for funds received. First National is able to process foreign check collection items fluidly and minimize clearing time by communicating directly with the foreign bank via the Swift network.
Global Solutions for Financial Institutions
First National's global banking program provides financial institutions of all sizes with solutions catering to your customer’s specific needs. These solutions provide opportunities to increase revenue, grow business and improve operational efficiencies. We provide tailored solutions for processing international payments through an online private label portal, foreign cash letters, hedging solutions, as well as comprehensive International trade solutions.
Forward Exchange Contracts
Forward Contracts enable you to purchase or sell foreign currency at a fixed rate of exchange, for delivery at a pre-determined future date. Forward contracts eliminate the risk associated with exchange rate volatility for the duration of the contract. First National Bank offers Window and fixed dated forwards booked up to one year in advance.
To assist with the management of receivables and payables denominated in a foreign currency, First National Bank offers its customers with a Multi-Currency Account platform in most major currencies. By using Multi Currency Accounts in foreign denominations, your business can better manage international cash flow while reducing the risk of currency value fluctuations
Standby Letter of Credit
A standby letter of credit will enhance your ability to work with critical business partners. It is an assurance issued by the bank stating that our customer has the financial resources to perform as agreed under a contract. The bank is substituting its credit standing for that of our customer in order to facilitate the transaction.
Import Letters of Credit
Reduce your commercial risk and delay payment until you receive documentation of shipment of the goods by the seller. With a letter of credit, you will conserve your company's cash flow by eliminating the need to make advance payments or deposits, and ensure shipment was made on time and the necessary documents have been presented.
Export Letters of Credit
By relying on a bank's creditworthiness rather than the buyer's, you will dramatically decrease your financial risk. The letter of credit is a guarantee that you will be paid upon shipment and presentation of complying documents.
Both efficient and cost-effective, import documentary collections ensure that your supplier doesn't get paid until First National Bank receives the commercial documents. In other words, you can delay payment until the arrival of the goods. Export documentary collections are a good alternative to selling on open account. Ensure that the collecting bank will only release key documents to your buyer once payment has been made or terms accepted.
Trade Finance Solutions
First National Bank's close relationships with the U.S. Export Import (EXIM) Bank, U.S. Small Business Administration (SBA) and other agencies help give you a competitive advantage. Your relationship with First National Bank will add strength to your proposals and assure risk mitigation as an exporter.
Securities products are: Not a Deposit Not FDIC Insured Not Insured by any Federal Government Agency Not Guaranteed by the Bank May Go Down in Value.