Business customers or economic entities can use “inward remittance” service provided by Agribank, for which Agribank receives money on investment, payment of export goods and services, loans, etc. remitted from a correspondent bank and credit into a specified account for the customer.
Benefits
-
Agribank’s
correspondent bank network of over 1,000 banks across the globe will ensure
that customers receive the service in a prompt, safe, accurate and simple
manner
-
Whether
customers are account holders or non-account holders can still receive money
remitted
-
Customers
can receive money in foreign currency or sell to Agribank at an agreed upon
exchanged rate but the rate shall not exceed the ceiling rate of the State
Bank.
How
to apply
-
Customers
(the beneficiary) to produce sufficient documents relating to the remittance
under the Incoming Payment Advice (if any).
Fees
-
Fees
apply according to current Schedule of Fees and Charges of Agribank
Delivery channels
-
Agribank
branches/transaction offices.
Technology applied
-
Agribank
uses automated accounting system.