Import Services

MB provides import services and works closely with customs brokers, when clearance of imports by our customers is of utmost importance.

International Payments

Whether in U.S. dollars or foreign currencies, MB’s infrastructure supports your timely payments to vendors around the world. MB can enable you to expeditiously transfer funds in major convertible currencies. For larger foreign currency payments, we provide hedging services to mitigate exposure risk.

Documentary Collections

If you import on a documentary collection basis ─ payable “at sight” or acceptance, MB can process your documents and  aid in providing reporting and tracking of your activities, especially if acceptance is involved. Our team can also help you direct import collections to MB. And, if you are invoiced in major foreign currencies, MB offers competitive exchange rates at the time of settlement or on a forward contract basis (if eligible).

Import Letters of Credit

MB offers an efficient, timely and personalized approach to your letters of credit requirements and assists you in structuring language to best cover your interest. With an extensive network of foreign correspondent banks in key markets around the world, MB  can also offer advice on how to best mitigate your foreign exchange exposure if your import transaction involves foreign currency conversion.

International Standby Letters of Credit

Importers may request simple payment guarantee standby letters of credit to cover repetitive and regular import shipments. The MB team advises our importing customers on the pros and cons of using standby letters of credit versus import trade letters of credit and  helps draft the one most effective for you.