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The best bank for export Letter of Credit transaction?


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Old 06-14-2008, 01:35 AM
Steve Steve is offline
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Default The best bank for export Letter of Credit transaction?

I am running an export business and my clients in China issue Letter of Credit payment to me. I have a business account with Bank of America. Its global trade department told me there are very few branches in US doing L/C. I have to drive hundreds of miles to a closest branch to submit documents. The whole validation and payment process could take weeks!!! Anybody can recommend a global bank that offers better L/C service and convenient locations close to Wilmington of Delaware? I am thinking of HSBC.....

Advice is highly appreciated!
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Old 06-14-2008, 01:35 AM
trade trade is offline
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Default The best bank for export Letter of Credit transaction?

great question! You wouldnt need to travel for miles to a banking location to submit your documents for payment. You can express mail them to numerous bank of America locations. What else would you like to know? You can mail your docs to: Bank of America
Global Trade Operations
1 Fleet Way
Scranton, PA 18507-1999
Mail stop: PA6-580-02-30
SWIFT: BOFAUS3N
The next question would be: Would you have LC Instructions to know how you'd like your LC set up by your customers? That, is the most critical.. Happy to help,
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