Hana Bank Launches Non-Face-to-Face 'Usanse Remittance' Service... Convenience for Export-Import Companies Up

Hana Bank announced on the 6th that it will implement a non-face-to-face 'Usance Remittance' service through electronic trade services (EDI·Electronic Data Interchange) to enhance convenience for import and export companies.

Introduced by Hana Bank in 2022, the 'Usance Remittance' service is designed for companies to use when settling import payments. It combines the convenience of simple general overseas remittances with the advantages of the letter of credit method, which allows post-payment of import funds.

By using the 'Usance Remittance' service, importing companies can pay import funds through acceptance financing without opening a letter of credit, and then settle the principal and interest at the agreed maturity date.

Hana Bank collaborated with Korea Trade Network (KTNET) to introduce the non-face-to-face 'Usance Remittance' service utilizing electronic trade services (EDI). It is available on uTradeHub, a digital trade and logistics platform operated by Korea Trade Network, allowing customers to easily check everything from import payment applications to processing results and maturity dates non-face-to-face.

A Hana Bank official stated, "To enhance the convenience of importing companies, we have implemented the 'Usance Remittance' service through the EDI channel." He added, "Hana Bank will continue its digital innovation efforts to improve corporate convenience by expanding various import and export financial services utilizing EDI in the future."

Customers using Hana Bank's 'Usance Remittance' service for the first time can apply after consultation at the nearest Hana Bank branch.