Book a Demo

Are you ready to experience the many benefits of container visibility? Schedule a VIZION API demo today.

Thank you for your submission!

A member of the Vizion team will be in touch shortly.
Oops! Something went wrong while submitting the form.
close modal icon
Back to Glossary

Collecting bank

shipping container at sea
Definition

A collecting bank, in the context of the supply chain, refers to a financial institution that acts as an intermediary to facilitate the collection of payments on behalf of exporters or sellers. When conducting international trade, the collecting bank plays a crucial role by receiving payments from the importer's bank and ensuring the secure transfer of funds to the exporter's account. This helps mitigate the risk of non-payment or fraudulent transactions, providing a reliable mechanism for settling trade transactions and ensuring timely and accurate payment collection in the supply chain.

Have a question?
Talk to an expert.

Our experts love to answer questions. Fill out the form and someone will contact you soon.

Thank you for your submission!

A member of the Vizion team will be in touch shortly.
Oops! Something went wrong while submitting the form.

Get the Most Advanced Visibility into the Journey of Your Ocean and Rail Containers

Talk to one of our supply chain experts to get started now.

Collecting bank

Definition

A collecting bank, in the context of the supply chain, refers to a financial institution that acts as an intermediary to facilitate the collection of payments on behalf of exporters or sellers. When conducting international trade, the collecting bank plays a crucial role by receiving payments from the importer's bank and ensuring the secure transfer of funds to the exporter's account. This helps mitigate the risk of non-payment or fraudulent transactions, providing a reliable mechanism for settling trade transactions and ensuring timely and accurate payment collection in the supply chain.

Have a question? Talk to an expert.

Our experts love to answer questions. Fill out the form and someone will contact you soon.

Thank you for your submission!

A member of the Vizion team will be in touch shortly.
Oops! Something went wrong while submitting the form.

Get the Most Advanced Visibility Into the Journey of Your Ocean and Rail Containers

Talk to one of our supply chain experts to get started now.
Talk to an Expert
Shipping container at seaShipping container at sea