Protect Your Cash Flow and Reduce Risk on Asia-Pacific Receivables

Whether your business is just starting out or has an established clientele in the Asia-Pacific region, you need to be sure you receive payments as quickly and securely as possible.

You can request payment from your customers in one of the following ways:

• A letter of credit issued by the purchaser’s bank, to ensure that you are paid once you have shipped the goods according to the conditions of the letter of credit
• Payment on receipt of shipping documents sent to their bank through RBC Royal Bank documentary collection
• A wire transfer in the currency of your choice—this ensures you receive quick payment that cannot be disputed
• A draft or money order in the currency of your choice instead of a conventional cheque. You can convert the funds to Canadian dollars using RBC Royal Bank Foreign Exchange services, or deposit U.S. dollars directly to your U.S. Business Deposit Account

For very large or unusual transactions, ask your account manager to suggest ways to ensure you are paid.

If you are selling online:

You can accept credit card payments in Canadian dollars—the card issuer will automatically convert these from each customer’s local currency. Moneris Solutions^‡ can enable you to accept credit card payments online.

Need Access to an Account in the Region?

If you require an account based in the Asia-Pacific region for your business operations, an RBC Account Manager can help you open an account in local currencies, U.S. dollars, Euros or any other major currency in the following locations:

• Australia
• China
• Hong Kong
• New Zealand
• Singapore
• Vietnam

This enables you to:

• Maintain operating deposit accounts in local currencies and other major currencies
• Pay your employees
• Make and receive domestic and international electronic payments
• Make and receive payments by cheque in countries where cheques are used

If your account is in Hong Kong, you can also accelerate collection of your Asian-Pacific receivables by using a lockbox. With a lockbox, customers mail payments to an address in Hong Kong and the payments are then automatically deposited to your account in that country. This enables you to improve your cash flow by reducing mail time and increase your efficiency by outsourcing receivables processing.

In some countries, you can take advantage of services that allow you to print and distribute cheques that you issue from the convenience of your office in Canada.

Control Cash Flow and Improve Forecasting

In some countries, for recurring or individual payments, you can collect payments on specific dates via domestic pre-authorized payments in local currency. Payments come directly from the customer’s local account.

RBC Express