FNB offers a Global Payments service, which lets you send and receive international payments through the SWIFT system, either online or via the FNB mobile banking app.
As an Authorised Dealer in foreign exchange, FirstRand and its divisions (including RMB and FNB) are required to report cross-border customer transactions to the South African Reserve Bank. This system of reporting is called balance of payments reporting or BoP reporting for short.With global market and geopolitical uncertainty, many businesses may be hesitant to do business internationally and have concerns about receiving and processing timely international payments.
One way to create more certainty is partnering with a bank that provides international payment capabilities through full membership of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network.
SWIFT is a global payment innovation and FNB is one of a handful of banks in North America with access to this latest technology, which offers:
The ability to tell clients where their payment is in real time.
The ability to cancel or recall payment in real time.
Seamlessly connect to FNB’s FX system with SWIFT’s unique end-to-end transaction reference (UETR) number.
Leveraging the knowledge, technology and reliability of a partner like FNB can make all the difference when conducting business outside U.S. borders.