International Bank

FAMILY REMITTANCE - WESTERN UNION

Service for sending and receiving family remittances to and from anywhere in the world through the Western Union system.

Who can apply?
Natural persons

What benefits can you obtain?

  • Fast service.
  • Security in the delivery or transfer of money.
  • The remittance service is exclusive for Banco Hipotecario clients
  • You can send or receive remittances to and from anywhere in the world in all the Agencies, Mini Agencies, and Lockers of Banco Hipotecario.

What processes are supported?
Family remittances with the destination address indicated by the client.

What requirements are necessary?

  • The maximum amount of money that clients can send or receive is $ 2,000.00
  • For users, the maximum remittance disbursement amount is $1,000.00

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FAMILIAR REMITTANCE - VIGO

Payment service of family remittances sent from anywhere in the world through the Air Pack-Wester Union system.

Who can apply?
Natural persons.

What benefits can you obtain?

  • Fast service
  • Security in the delivery of money
  • You can receive money funds from anywhere in the world in all the Agencies, Mini Agencies, and Lockers of Banco Hipotecario.

What processes are supported?
Payment of family remittance at the location indicated to clients or users.

What requirements are necessary?
The maximum amount of remittances is $ 1,000.00

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Collections

It is a commercial operation whereby the Financial Institution, acting by order, account, and risk of its exporting client, processes the collection at sight or term bills and/or shipping and/or commercial documents before a debtor (importer) through a Bank from abroad.

Who can opt for this service?

  • Natural or legal persons who make exports or have the need to collect sums of money from abroad.
  • Natural or legal persons who carry out imports and have the need to pay and collect sums of money in the country through correspondent banks abroad or directly.

What benefits can you obtain?

  • The seller knows that the documents will be delivered to the buyer until the payment or acceptance is made; that is, it keeps control of the merchandise through the collecting bank.
  • Advance funding on documents
  • Lower commission charges than letters of credit.
  • The client knows that by paying off or accepting the draft for the documents, he will be able to dispose of the goods immediately.

 

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CLEAN COLLECTIONS

It is a payment method that the Bank provides to its clients when they issue checks from their local accounts on behalf of a beneficiary outside El Salvador so that they can be paid.

Who can opt for this service?
Natural or legal persons that have the need to write checks for beneficiaries abroad through correspondent banks.

What benefits can you obtain?

  • Financially, your funds are charged until the check is sent to the collecting bank.
  • You can draw a Bank draft from your local account easily.

What requirements are necessary?
Be a client of Banco Hipotecario with a current account

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INTERNATIONAL MONEY TRANSFER

They are money transfers overseas for different funds and currencies. Generally, this service is known as “wire transfer.”

Who can apply?
Natural or legal persons.

What benefits can you obtain?

  • Speed ​​and security in money transfers overseas.
  • You will be assisted by highly experienced staff providing specialized advice on your operations.
  • You can transfer funds to anywhere in the world through our correspondents.

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Commercial and Standby letters of credit

It is an instrument by which a foreign Bank, at the request and following the instructions provided by a client, undertakes directly or through a correspondent bank to pay a beneficiary a certain amount of money, upon presentation of the stipulated documents and in accordance with the terms and conditions established therein.

Who can apply?
Natural or Legal persons exporting or importing goods.

What benefits can you obtain?

  • The importing client guarantees its supplier the payment of its exports through the Bank if it complies with the requirements of the letter of credit.
  • Security deposits are required for small percentages or only promissory notes.
  • The importer can negotiate cash payment to the exporter and ask Banco Hipotecario for refinancing at competitive rates.
  • By using the cash payment method, the supplier can grant a discount.
  • Minimum trade risk between people or companies, since the Banks will not make the payment to the seller if the documents do not comply with the terms of the letter of credit.
  • Correspondent banks with an extensive network all over the world, which allows us to work with imports from any country.
  • You can agree with the supplier to share the costs incurred.

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DOMESTIC LETTERS OF CREDIT

It is a local payment method through which the Bank, at the request of the issuing client, undertakes directly to pay a specific sum of money to a beneficiary (suppliers); provided that the stipulated documents are presented and in accordance with the terms and conditions established therein.

Who can apply?
Natural or legal persons selling and buying goods and services locally.
What benefits can you obtain?

  • Reliable payment method since it is backed up by the Bank
  • It ensures the payment to its seller, as long as it complies with the delivery of the documents in time and form and as agreed with the payer.
  • It gives confidence to the buyer who will receive the goods as agreed.
  • It gives confidence to the seller who will receive payment for their goods or services.

What requirements are necessary?

  • Credit analysis evaluation (Balance sheet, financial statements).
  • Submit application forms for a letter of credit duly filled out and signed by the legal representative of the company.
  • Promissory note signed by the legal representative of the company, duly stamped.
  • Pro-forma invoice
  • Comply with the requirements of the guarantee.
  • Have an account with Banco Hipotecario.

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PAYMENT ORDERS

It is the directive of a bank abroad to pay a certain amount to an account of a client of Banco Hipotecario.

Who can apply?
Natural and legal persons (importers, exporters, NGOs, Embassies, Charities).

What benefits can you obtain?

  • Speed ​​and security in money transfers abroad.
  • The amount credited to the accounts is immediately available at the Bank.

What requirements are necessary?

  • Have a checking or savings account with 90 days after its opening, or have credits with the Mortgage Bank.
  • Fill the income statement online and physically with the SITI form; both methods available on the Website:

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