Issuing bank

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Issuing bank

Bank that issues a letter of credit.

Issuing Bank

A bank that writes a letter of credit, especially on behalf of an exporter. The issuing bank operates in the country of the importer, and facilitates trade between the importer and exporter by providing credit for the transaction. It is also called an opening bank.
References in periodicals archive ?
A spokesperson for the CSC confirmed: "Thanks to the work that the issuing banks have already undertaken to swap the older paper notes with the more secure, environmentally friendly polymer notes, the majority of PS5 and PS10 notes have already been replaced with polymer.
MyChargeBack, an international provider of recovering the funds of victims of binary options fraud and binary options scams, has announced that it has broadened its portfolio to include consultation services and partnerships with competing financial recovery companies, credit card issuing banks and law firms specializing in consumer rights, the company said.
Talk to Pay[R] allows banks to drastically reduce CNP fraud (Card Not Present) and offers issuing banks additional revenue generation thanks to added value services such as card-based transactions history and secure online banking access.
REASONS WHY ISSUING BANKS SHOULD START IMPLEMENTING 3D SECURE ACS
Abidjan: The African Development Bank (AfDB) approved today a US $100-million unfunded Risk Participation Agreement (RPA) for FirstRand Bank Limited South Africa (FRB), under which the two banks will share the default risk on a portfolio of trade transactions originated by issuing banks in Africa and confirmed by FRB.
Ethoca is a global collaboration-based technology company serving online merchants and card issuing banks in the fight against ecommerce fraud.
Moreover, for the back to back/counter-guarantee issuing banks situated in foreign countries, National Scale Rating of at least 'A' or equivalent shall also be acceptable provided the guarantee issuing bank in Pakistan is comfortable with it.
This brings the number of JCB issuing banks to 31 out of about 50 banks operating in Taiwan.
Providing secure payment authentication to financial service institutions, issuing banks, and a wide range of credit card and payment processor companies, the integrated products will provide Federal Information Processing Standard (FIPS) 140 approved security for sensitive cardholder data and online payment authentication processes.
Applicants and issuing banks are normally domiciled in a different country from that of the beneficiary, and consequently, issuing banks normally use a bank (or their own branch if they leave one) located in the beneficiary's country to "advise" the credit to the beneficiary.
By switching issuing banks we can further reduce our cardholder fees without decreasing our profit margins," stated Bruce Berman, CEO of Bank Freedom.
A spokesperson for the CSC confirmed:"Thanks to the work that the issuing banks have already undertaken to swap the older paper notes with the more secure, environmentally friendly polymer notes, the majority of PS5 and PS10 notes have already been replaced with polymer.