The new reality of international trade: how the landscape of cross-border payments is changing

      Recently there has also been a certain easing of compliance controls by foreign banks. It has become more lenient toward transactions where the recipient is the manufacturer of the goods in the destination country and the payment itself is directly linked to the delivery of the products. As a result, some companies have been able to return from agency schemes to direct payments. For example, after payments in Turkish lira were resumed in July, a client of Khlynov Bank was able to stop using intermediaries and began paying the counterparty for goods directly. Although the client's goods were dual‑use, the Turkish bank's compliance checks were passed without any problems.

      "To reduce costs and increase the efficiency of international contracts, we recommend that companies conduct a preliminary review of available payment routes. I would note that selecting the optimal option precisely requires a full package of transaction documents. In practice, consultations with the bank's specialists often help companies negotiate with foreign partners to switch to more advantageous and secure payment channels," advised Svetlana Voronova, Head of Foreign Exchange Operations at Khlynov Bank.

      Another important trend is the increase in the number of countries willing to settle transactions in their national currencies. In July Khlynov Bank established direct payments to Serbia, Brazil, Laos and Thailand, which significantly expanded the range of options for clients engaged in foreign economic activity.

      Khlynov Bank is actively developing its international payment capabilities and continues to expand its infrastructure to support businesses with up‑to‑date solutions amid changing external market conditions.

      You can review all service details, study the full terms, and open a foreign‑currency account with Khlynov Bank via the link.