Canada, the United States and Mexico have reaffirmed their commitment to continental free trade through a revamped agreement called the USMCA. This new trade pact provides stability for cross-border commerce. With HSBC on the ground in all three countries, it can provide market-leading support unlike no other banks in Canada.
Canada is also actively engaged with many other countries in the Western Hemisphere and has established trade agreements with the world’s top economies in far-flung regions of the globe. Those trade deals include CETA with the European Union and the TPP and its 11 signatories in Asia and South America.
“Thanks to our international network, we can make those much-needed introductions when companies are entering a new market for the first time,” says Dan Leslie, Head of Client Coverage at HSBC Bank Canada. “Being able to fully understand and appreciate the many considerations of doing business in a new country makes all the difference, and can help companies avoid the hazards that can trip them up when they lack that local knowledge.”
Transacting with vendors, customers and partners outside of Canada is also easy, with solutions like Global Disbursements and Cross Border Automated Clearing House (ACH) service.
Global Disbursements (GD) enables HSBC customers to disburse payments globally using a single funding account in over 130 currencies covering up to 175 countries. HSBC has also made it simpler to issue payments into the US than ever before. With the Cross Border ACH service, under Global Disbursements, customers can disburse USD payments seamlessly into the US by leveraging the local ACH clearing system – without the use of wire payments that can prove costly in large volumes.
These products are designed to provide a cost-effective alternative for disbursing international payments by helping clients to streamline their payables processes, minimize risk and improve transparency.