International Collections and Payments

You can send and receive the amount of your purchases or sales from any corner of the globe quickly and securely. Send international transfers at your convenience.

• You choose how to issue it: online or via our branches.
• You can see the details when you visit your Business Online Banking, with monitoring of your collections/payments from start to finish, offering you total transparency and autonomy:
  • There are up to 4 statuses for your payment:
    1. Underway (after it is sent, it is being processed).
    2. Pending (waiting for the next step).
    3. Completed.
    4. Rejected.
  • Track your collections/payments with the UETR code (code available in the 121 field in the SWIFT message)
  • Download documents in PDF or Excel
• More than 35 currencies: dollars, pounds, Mexican pesos, etc and with the possibility of taking out currency hedges so that the exchange rate does not pose any risk.
• And if you want, you can finance your collections/payments.

An international cheque is a bank document that allows you to withdraw a sum of money in euros or another currency in banks located abroad to the people with whom you carry out your international transactions, whether they are collections or payments. You can also use the check to pay for your imports.

• We can provide you with chequebooks in euros and foreign currencies.
• We offer you bank cheques in euros and in foreign currencies both in the banks that pay in Spain and in the branches of our correspondent banks.
• You will have an efficient service thanks to Banco Santander's presence in 16 countries and its large network of correspondent banks.
• Try one of the most used means of payment at an international level.
• We also manage the cashing of your cheques, if it is the means of payment for your exports.

International remittances are collection or payment instruments in your international transactions, which are implemented with documents:

• Financial: such as cheques, promissory notes or bills of exchange.
• Mercantile, which certify the ownership of the merchandise: such as invoices, transport documents or insurance certificates.

With these documents Banco Santander will manage the collection or payment of the sale/purchase you have made.

Through Online Banking Empresas we provide our customers an electronic file in which they can view the images of the commercial documents, as well as the accounting settlements for each operation.

How do international remittances work?

1. The Exporter sends the merchandise to the country of destination.
2. The Exporter sends the Documents, both financial and commercial, to the Issuing Bank.
3. The Issuing Bank sends the Documents to the Collecting Bank.
4. The Collecting Bank informs the Importer.
5. The Importer proceeds with the payment or acceptance of a bill, in exchange for obtaining the Documents.
6. The Collecting Bank proceeds to reimburse the amount to the Issuing Bank.
7. The Issuing Bank pays the Exporter.

When it comes to facilitating the collection/payment of your first transactions with a little-known counterparty, we may issue/receive a letter of credit as a way to ensure the collection/payment of your international transactions.

At Santander you can issue and manage your commercial paper through our super agile online banking service, with important new features:

• Increased decision-making capacity: banks involved, places of use, requests for related funding, etc.
• New and improved communications model so you can download all your documents (settlement letters, SWIFT transfers sent, etc.) and keep close control of all your transactions.
• We make your job easier with the option to issue and download drafts with text templates for the most common transactions and operations.

Choose yours:

• Confirmed When the bank receiving the documentary credit confirms it, it to undertakes and is obliged in the same manner as the issuing bank.
• Transferable. When the beneficiary instructs the bank so that one or more beneficiaries can use part or all of the credit.
• Usable.For payment on demand, against acceptance or negotiation.
• Stand-by or Contingent Letter of Credit. Used as a personal, abstract, autonomous and independent guarantee that supports the fulfilment of the contracted obligations with documents.

Procedure for opening a documentary credit:

1. By means of a document, the Importer asks the Issuing Bank to open the Documentary Credit and, after the appropriate risk study, the Bank issues the Documentary Credit to the Beneficiary.
2. After analysing the request, the Issuing Bank issues the documentary credit through the Notifying Bank.
3. The Notifying bank informs the Beneficiary of the opening of the Documentary Credit.
4. The Exporter (beneficiary) ships the goods and delivers them to the country of destination.
5. The Beneficiary delivers documents to the Notifying bank.
6. The Notifying Bank sends the documents received to the Issuing Bank.
7. The Issuing Bank pays the Notifying Bank.
8. The Issuing Bank will debit the importer's account and provide them with the documents.
9. The Notifying Bank pays the Beneficiary.
10. The Importer submits the documentation to customs and retrieves the goods.

We can assist you with the payments and receipts for your international trade operations through a payment method that ensures collection, in the event that you are an exporter, and enables the importer to establish the desired conditions. Thus, both buyer and seller benefit, and both are successful in the international transaction.

With either digital or branch-based management.