What Services are Offered Under Transaction Banking?
Transaction banking encompasses a variety of services, including:
Cash Management Solutions: These services help businesses manage their cash inflows and outflows, optimize their cash positions, and invest surplus funds effectively. Trade Finance: This includes letters of credit, documentary collections, and trade loans that facilitate international trade by mitigating risks and providing financing options. Payment and Collection Services: These services streamline the process of making and receiving payments, ensuring that transactions are efficient and secure. Liquidity Management: These solutions help businesses manage their liquidity by providing tools for forecasting cash flows and accessing short-term financing options. Escrow Services: These are used in transactions where a neutral third party holds funds or assets until certain conditions are met, providing security for both parties involved.