International Settlement Services

Banks worldwide can benefit from our expertise and services

We provide many valuable services that enable overseas financial institutions serving those businesses to access the U.S. financial system.  As a Bank offering Correspondent Banking services, we have established a network of over 500 correspondent and affiliate financial institutions worldwide with whom we conduct transactions.

• Overseas banks use HAB Bank to gain access to the U.S. financial system so they can serve their own business clients without having to open a U.S. branch.
• HAB Bank acts as an intermediary for overseas banks facilitating their wire transfers, settlement of US Dollar Treasury Payments, Payments related to Supply Chain activities. We also help manage surplus US Dollar liquidity for our correspondent banks with attractive rates without restricting the availability of their funds.
  

Why HAB Bank?

• HAB Bank is a select member of the largest private sector US Dollar Clearing system in the world, CHIPS (The Clearing House Interbank Payments System). CHIPS settles over $1.8 Trillion dollars a day and is only accessible to an exclusive prestigious group of member banks. Of the thirteen United States member banks, HAB is numbered the sixth most active clearing bank on CHIPS network.
• We maintain an active account with the Federal Reserve Bank of New York, the exclusive fiscal agent of the United States Treasury.
• HAB Bank maintains a vast network of over 500 banking correspondents and affiliates across the globe
• We offer competitive, value-oriented pricing for our services.  We maintain client support and processing services around the clock to ensure live assistance and expedited payments in  local times.
• Our large multi-lingual team consists of bankers and experts from around the world
  
• Unlike many banks, HAB Bank provides all its services out of Manhattan, New York, through two around the clock shifts.  Clients can reach out to live support teams to ensure live assistance and expedited payments in their local time.

Our Services

Fund Transfer

We provide fund transfer and settlement services for our Correspondent Bank’s U.S. dollar transactions. This occurs through our accounts with the Federal Reserve Bank of New York and the Clearing House Interbank Payments System (CHIPS). Our around-the-clock processing services ensure that Correspondent Bank payments are processed quickly and efficiently. We provide helpful feedback to our Correspondents to help increase their STP (Straight Through Processing) rate.

Fund Management

We offer fully automated overnight sweep services to our Correspondent Banks.  Your unexpected receipts or excess end-of-day balances held in your demand deposit account are automatically swept overnight into your call account in our international banking facility where it will earn you interest.  Throughout this seamless process, your funds are always available to you for settlement activity.

Letter of Reimbursement Credit

HAB Bank provides Letter of Credit Reimbursement processing in an efficient and secure manner to always protect the interest of our Correspondents.

Export Reimbursement

Our Correspondent Banks get access to expedited processing when they forward Reimbursement Claims for onward submission to other U.S. banks. HAB provides efficient processes, ensuring that proceeds are either credited within 72 hours or an appropriate reason is conveyed regarding the delay.

International Cash Letter Services

HAB Bank offers Cash Letter services to our Correspondent Banks that enable them to clear U.S. dollar denominated checks drawn on U.S. banks.*

Check Drawing

Correspondent Banks can issue checks drawn on their account maintained with HAB Bank.*

Drawdown

HAB Bank provides a facility for our correspondents to designate HAB Bank as the processing agent bank for their Visa, Mastercard, UnionPay and JCB Credit Cards to facilitate their Credit Card Arrangements.  Correspondents can also designate HAB for settlement of their automated monthly SWIFT invoices.