HSBC Malta Commercial Banking has launched Instant@dvice, an online trade andreceivables finance service.

The bank says it streamlines and enhances import and export letter of credit (L/C) procedures at no extra cost, thus saving traders time and money.

Transaction status

The service keeps exporters and importers up to date with the status of trade transactions via email, which also provide relevant advice and notifications.

HSBC Malta reckons Instant@dvice would be particularly well suited for trade customers who travel frequently.

Efficiency improvements

The new service aims to improve efficiency by enabling users to forward non-negotiable copies of export L/Cs to buyers, freight forwarders, insurance providers and other trade partners.

Copies of import L/Cs may also be sent via email immediately upon issuance by HSBC, saving time and communication costs, and allowing the customer to start manufacturing and sourcing processes immediately upon receipt of the relevant L/Cs.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.