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Enhanced Open Account Services

If you regularly conduct business with certain sellers, you can reduce the time and costs of letters of credit and import documentary collections by taking advantage of Citibank’s efficient, data-enriched Enhanced Open Account trade process.

With Enhanced Open Account trade processing, Citibank can help importers:

  • Facilitate payment for open account purchases
  • Streamline and speed up the trade process, including reconcilement and settlement
  • Make better data available faster, speeding completion of open account trade transactions
  • Provide an electronic record—from purchase order through shipment and payment—that can be uploaded to an ERP system, eliminating manual errors
  • Free up trade-related credit facilities for other uses
  • Reduce reliance on time-intensive letters of credit and import documentary collections
  • Reduce trade finance fees