Trade Services Help & Support - Trade Financing | OCBC Business Banking Singapore

Help And Support

Trade Services - Trade financing

Invoice financing
  • How to apply for Invoice Financing (Purchase) on OCBC Velocity

    Step 1

    1. Log in to OCBC Velocity.
    2. Select “Trade Financing > Invoice Financing".
    Trade Finance tab

    Step 2

    For us to pay your suppliers on your behalf, select "For your purchases".

    Invoice Financing (purchase) Application – Type of financing

    Step 3

    1. Indicate the invoice number:
      • If you're paying multiple invoices with the same supplier, you just need to enter the invoice number of one of the invoices.
    2. Loan tenor:
      • Indicate how long you'd like to loan for, starting from the invoice date.
    3. Amount to be financed:
      • This amount should not exceed your available Invoice Financing limit.
      • If your invoice amount is more than the available Invoice Financing limit, please indicate the remaining invoice amount to be deducted from your account under “Any Other Instructions” (see step 5).
    Invoice Financing (purchase) Application – Loan Details

    Step 4

    If you'd like us to pay your supplier on a later date, select the date under "Process this application on or after".

    Invoice Financing (purchase) Application – Instructions to OCBC

    Step 5

    Should your available limit be insufficient to pay the invoice, please enter instructions under "Any Other Instructions":

    “Deduct <shortfall amount> from <account number> and send full invoice amount to supplier”.

    Invoice Financing (purchase) Application – Any Other Instructions

    Step 6

    Select a mode of transfer (via Telegraphic Transfer or Cashier's order) on you'd like the money to be sent to your supplier.

    Invoice Financing (purchase) Application – On Proceeds

    Step 7

    For Telegraphic Transfers:

    Fill in your supplier’s details: Beneficiary name, beneficiary account number, amount, beneficiary bank details and SWIFT code.

    You can also include remarks to your supplier.

    Invoice Financing (purchase) Application – Telegraphic Transfers

    Step 8

    Click "Add Beneficiary" after entering all the required information.

    Invoice Financing (purchase) Application – Add Beneficiary

    Step 9

    You will be able to check which are the beneficiaries you have added here.

    Invoice Financing (purchase) Application – Beneficiary Details

    Step 10

    1. Under “On Charges”, tick the “Pay OCBC charges from” box and select your account.
    2. Tick the “On maturity, please pay the principal amount and any interest from” box as well and select your account.
    Invoice Financing (purchase) Application – On Charges

    Step 11

    1. If the financing currency is different from your invoice, click “For Single Exchange Rate Type Usage” to indicate the rate type.
    2. Choose “FX Rate” if you are using the bank’s prevailing FX rate or “Other Type Rates” if you have an FX contract with the bank.
    Invoice Financing (purchase) Application – On Foreign Exchange

    Step 12

    If you had selected "Other rate types", you'll be required to enter your FX contract details or key in your dealer's name in "Special".

    Invoice Financing (purchase) Application – Other Rate Types

    Step 13

    Remittance charges:

    By default, remittance charges are charged half to you, and half to your supplier. If you prefer other arrangements, please indicate under “Any Other Instructions” as such:

    “Remittance charges: fully borne by supplier” or “Remittance charges: fully borne by us”


    For pre-shipment financing (if applicable):

    Indicate “Pre-shipment financing” under “Any Other Instructions”.

    Invoice Financing (purchase) Application – Any Other Instructions

    Step 14

    1. Enter your contact name and number.
    2. Indicate the number of documents you would like to attach.
    3. Upload your documents by selecting "Choose File”, followed by “Attach”.
    4. Save your application details or preview and check the transaction before clicking “Submit”.
    5. Status of transaction will show “Pending Authorization”. Do notify the authorizers to verify and authorize the transaction before 4.30pm for same day processing. Same day processing is applicable if all documents received are in order and will be subject to checks by OCBC Bank.
    Invoice Financing (purchase) Application – Supporting Details

    Step 15

    You'll be notified immediately if you are successful with this application.

    Invoice Financing (purchase) Application – Successful Submission
  • How to apply for Invoice Financing (Sales) on OCBC Velocity

    Step 1

    1. Log in to OCBC Velocity.
    2. Select “Trade Financing > Invoice Financing”.
    Trade Finance tab

    Step 2

    To receive cash upfront from your sales invoices, select “For your Sales”.

    Invoice Financing (sales) Application – Type of financing

    Step 3

    1. Indicate the invoice number that you'd like us to pay for.
      • If you're paying multiple invoices with the same party, you just need to enter the invoice number of one of the invoices.
    2. Loan tenor:
      • Indicate how long you'd like to loan for, starting from the invoice date.
    3. Amount to be financed:
      • This amount should not exceed your available Invoice Financing limit or the maximum percentage of invoice allowed for financing (eg: 80% of invoice amount).
    Invoice Financing (purchase) Application – Loan Details

    Step 4

    If you'd like us to pay your supplier on a later date, select the date under "Process this application on or after".

    Invoice Financing (sales) Application – Instructions to OCBC

    Step 5

    1. Under “On Proceeds”, select the account to credit to.
    2. Tick the checkbox if you would like to use the proceeds under this application to repay any outstanding loans or bills you have with OCBC.
    3. Under “On Charges”, tick the “Pay OCBC charges from” box and select your account.
    4. Tick the “On maturity, please pay the principal amount and any interest from” box as well and select your account.
    Invoice Financing (sales) Application – Any Proceeds and On Charges

    Step 6

    1. If the financing currency is different from your account, click “For Single Exchange Rate Type Usage” to indicate the rate type.
    2. Choose “FX Rate” if you are using the bank’s prevailing FX rate or “Other Type Rates” if you have an FX contract with the bank.
    Invoice Financing (sales) Application – On Foreign Exchange

    Step 7

    1. Should you select “Other Rate Types”, a pop-up will appear.
    2. Enter your FX contract details or select “Special” and enter your dealer's name.
    Invoice Financing (sales) Application – Other Rate Types

    Step 8

    1. Enter your contact name and number.
    2. Indicate the number of documents you would like to attach.
    3. Upload your documents by selecting "Choose File”, followed by “Attach”.
    4. Save your application details or preview and check the transaction before clicking “Submit”.
    5. Status of transaction will show “Pending Authorization”. Do notify the authorizers to verify and authorize the transaction before 4.30pm for same day processing. Same day processing is applicable if all documents received are in order and will be subject to checks by OCBC Bank.
    Invoice Financing (sales) Application – Supporting Details

    Step 9

    Upon successful submission, the above message will be displayed.

    Invoice Financing (sales) Application – Successful Submission
  • How to set up templates for your frequently transacted seller/buyer, for ease of application

    Step 1

    For ease of application, you can set up a template with your frequently transacted seller or buyer. Simply click the “Load Template” button to retrieve your saved templates.

    Trade Finance tab

    Step 2

    Select the template you would like to use and click “Load”. You also have the option to use your previously submitted transaction.

    Invoice Financing Application – Previously submitted transactions

    Step 3

    After clicking “Load Template”, all the information will be pre-populated.

    Invoice Financing Application – Pre-populated
  • How to extend loan tenor or convert pre-shipment financing to post shipment financing on OCBC Velocity

    Step 1

    1. Log in to OCBC Velocity.
    2. Select “Trade Financing > Trade Financing Amendment and Settlement”.
    Trade Finance tab

    Step 2

    Enter the transaction number or alternatively, click “Search” to show a list of outstanding Invoice Financing transactions.

    Trade Financing Amendment and Settlement – Search

    Step 3

    Select “Amendment”.

    Trade Financing Amendment and Settlement – Selection

    Step 4

    Indicate how many days the loan tenor is to be extended by. For pre-shipment financing (if applicable), this should be computed as approved loan tenor minus pre-shipment financing loan tenor.

    Note: The overall tenor of the loan is capped by your approved tenor.

    Trade Financing Amendment – Loan Tenor

    Step 5

    Under “On Charges”, tick the “Pay all charges / interest from” box and select your account.

    Trade Financing Amendment – On Charge

    Step 6

    For pre-shipment financing (if applicable), indicate “To convert to post-shipment financing” under “Any Other Instructions”.

    Trade Financing Amendment – Any Other Instructions

    Step 7

    For pre-shipment financing (if applicable), attach a copy of the final invoice, transport documents and any required documents before submitting.

    Trade Financing Amendment – Supporting Details
  • How to change the settlement date for Invoice Financing and make repayment for non-SGD Invoice Financing on OCBC Velocity

    Step 1

    1. Log in to OCBC Velocity.
    2. Select “Trade Financing > Trade Financing Amendment and Settlement”.
    Trade Finance tab

    Step 2

    Enter the transaction reference number or alternatively, click “Search” to show a list of outstanding Invoice Financing transactions.

    Trade Financing Amendment and Settlement – Search 

    Step 3

    Select “Settlement”.

    Trade Financing Amendment and Settlement – Selection

    Step 4

    1. Under “On Principal”, tick the “Pay the principal amount from” box and select your account. Then, enter the amount to be repaid and click “Add Account”.
    2. After which, a table will display the selected account and amount to be deducted.
    3. Under “On Charges”, tick the “Pay all charges / interest from” box and select your account.
    Trade Financing Amendment – Instructions to OCBC

    Step 5

    1. If the financing currency is different from the account which you will be paying from, click “For Single Exchange Rate Type Usage” to indicate the rate type.
    2. Choose “FX Rate” if you are using the bank’s prevailing FX rate or “Other Type Rates” if you have an FX contract with the bank.
    Trade Financing Amendment – On Foreign Exchange

    Step 6

    If you had selected "Other rate types", you'll be required to enter your FX contract details or key in your dealer's name in "Special".

     Trade Financing Amendment – Other Rate Types

    Step 7

    Under “Supporting Details”, attach a copy of the FX contract (if applicable) and click “Attach”.

    Trade Financing Amendment – Other Supporting Details