Top 10 banks for International Trade transactions?
Post 1 of 25
Which are the top ten International Banks to use for International Trade transactions?
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23 Aug 2006 13:22
Post 2 of 25
Replying to [Trini]:HOW DO YOU MAKE A BANK TRANSACTION, FOR ME IT WILL BE MY FIRST TIME, BUT I WOULD LIKE TO KNOW HOW DO YOU GO ABOUT IT..WHT'S THE PRECEDURE..
04 Dec 2006 17:02
Post 3 of 25
Replying to [tton]: I think your seller made a gud profit out of this deal. I will stick with L/C in all transactions with a unknown seller.
09 Dec 2006 01:12
Post 4 of 25
Replying to [Trini]:Trini,
The bank you choose to work with would be dependant upon what exactly it is you are wanting to "do" with them.
If your requirements are to make T/T's (Wire Transfers in the US) to suppliers in other countries on a small scale then I would suggest you try to find an institution that has low fees for this. (A great example being Washington Mutual who charge $0.00 for International T/T's). As long as the bank you choose to work with are FDIC Insured you are safe.
If you are talking about doing huge numbers of transfers and having to take payments in multiple countries around the world I would recommend some of the banks already mentioned by others.
I am assuming you are based in the US so for dealing with mainland Asia I would run with Citibank or HSBC. They have better penetration in Asia than many other banks.
If you are dealing with Western Europe then: Deutsche/ Barclays/ Merril Lynch or Royal Bank of Scotland who are increasing their market share and offering good costs to larger customers.
If you need an around the whole world bank based in the US then:
Citibank/ Merril Lynch/ B.of America wiould be the major players.
But again, if you are talking maybe 10-50 trades per year of under US$50K you should shop around for a good local bank. International TT's are no big deal these days and some of the smaller banks have much better rates than the big boys.
The bank you choose to work with would be dependant upon what exactly it is you are wanting to "do" with them.
If your requirements are to make T/T's (Wire Transfers in the US) to suppliers in other countries on a small scale then I would suggest you try to find an institution that has low fees for this. (A great example being Washington Mutual who charge $0.00 for International T/T's). As long as the bank you choose to work with are FDIC Insured you are safe.
If you are talking about doing huge numbers of transfers and having to take payments in multiple countries around the world I would recommend some of the banks already mentioned by others.
I am assuming you are based in the US so for dealing with mainland Asia I would run with Citibank or HSBC. They have better penetration in Asia than many other banks.
If you are dealing with Western Europe then: Deutsche/ Barclays/ Merril Lynch or Royal Bank of Scotland who are increasing their market share and offering good costs to larger customers.
If you need an around the whole world bank based in the US then:
Citibank/ Merril Lynch/ B.of America wiould be the major players.
But again, if you are talking maybe 10-50 trades per year of under US$50K you should shop around for a good local bank. International TT's are no big deal these days and some of the smaller banks have much better rates than the big boys.
09 Dec 2006 13:06
Post 5 of 25
Replying to [Trini]:
International banks: Rating "AAA":
1. Citigroup ( Value $35.1bn)
2. HSBC ( Value $33.5bn )
3. Bank of America ( Value $31.4bn )
4. American Express ( Value $18.1bn )
5. JPMorgan ( Value $15 bn)
International banks: Rating "AA":
1. ABN AMRO
2. Barclays
3. Fortis
4. Santander
5. Royal Bank of Scotland
click this link to find out TOP 500 banks of Asia.
http://www.asiaweek.com/asiaweek/features/financial500.2001/500list_1.html
Other good banks according to Countries:
Top Bank of each Country:
China: Industrial and Commercial Bank of China (ICBC)
India: Abn Amro Bank India
Pakistan:
1. Bank Alfalah Pakistan.
2. National Bank of Pakistan.
3. Faysal Bank
4. Standard Chartred.
5. Citigroup Pakistan
Middle east:
1. Bank of Oman.
2. Doha bank
3. HSBC
Africa:
1. Standard Bank South Africa
2. ABSA Bank South Africa
3. Nedcor Bank South Africa
Australia:
1. NATIONAL AUSTRALIA BANK
2. AUSTRALIA & N.Z. BANKING GROUP
3. WESTPAC BANKING CORP
4. COMMONWEALTH BANK OF AUST
5. St.George
6. MACQUARIE BANK
7. SUNCORP-METWAY
8. COLONIAL STATE BANK
Regards
Asad Zeeshan![[em19]](http://img.alibaba.com/images/eng/style/icon/emoticons_great.gif)
International banks: Rating "AAA":
1. Citigroup ( Value $35.1bn)
2. HSBC ( Value $33.5bn )
3. Bank of America ( Value $31.4bn )
4. American Express ( Value $18.1bn )
5. JPMorgan ( Value $15 bn)
International banks: Rating "AA":
1. ABN AMRO
2. Barclays
3. Fortis
4. Santander
5. Royal Bank of Scotland
click this link to find out TOP 500 banks of Asia.
http://www.asiaweek.com/asiaweek/features/financial500.2001/500list_1.html
Other good banks according to Countries:
Top Bank of each Country:
China: Industrial and Commercial Bank of China (ICBC)
India: Abn Amro Bank India
Pakistan:
1. Bank Alfalah Pakistan.
2. National Bank of Pakistan.
3. Faysal Bank
4. Standard Chartred.
5. Citigroup Pakistan
Middle east:
1. Bank of Oman.
2. Doha bank
3. HSBC
Africa:
1. Standard Bank South Africa
2. ABSA Bank South Africa
3. Nedcor Bank South Africa
Australia:
1. NATIONAL AUSTRALIA BANK
2. AUSTRALIA & N.Z. BANKING GROUP
3. WESTPAC BANKING CORP
4. COMMONWEALTH BANK OF AUST
5. St.George
6. MACQUARIE BANK
7. SUNCORP-METWAY
8. COLONIAL STATE BANK
Regards
Asad Zeeshan
11 Dec 2006 13:22