Collecting / presenting bank address

Simple is Beautiful; the only thing came in my mind when thought of documentary collection. And I think more and more people are thinking the same in these days. Documentary Collection offers us far greater security than selling on open account; but not as much as a documentary credit. We should therefore be more cautious before starting selling using this method of payment. Documentary Collection Forum is an effort to help you on this way – admin;
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Collecting / presenting bank address

Post by Gart » Thu Oct 18, 2018 7:29 pm

Dear colleagues,

I just wondered if you as remitting bank ever check if address of a collecting / presenting bank address (indicated by your customer - drawee - in their collection application form to you) is genuine?

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Re: Collecting / presenting bank address

Post by picant » Mon Oct 22, 2018 10:35 am

Hi Pal,

some AML rules and experience advise banks to check the address of collecting bank. Internet is useful in this case or bankersalmanac website.

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Re: Collecting / presenting bank address

Post by LLawrence » Sun Apr 14, 2019 2:32 am

They do, and usually they do bank simply googling and checking, same is to do (sometimes) with the background of the company

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