International Private Banking
IDB Bank has offered an international private banking service for over 40 years. Our Private Banking officers have a sound understanding of our customers' needs and of the U.S. and global financial markets, with sensitivity to the individual requirements of the non-U.S., non-resident client.
Our international platform is overseen from our offices in New York and Miami. Each Private Banking officer is assigned specific accounts on a long-term basis in order to develop solid relationships based on trust. These officers often travel extensively outside the U.S. in order to maintain continuous personal contact with our customers. They are supported by a network of representatives, and we have representative offices in both Israel and Latin America. A regional management team based in New York supervises all administrative and marketing matters.
The ongoing economic uncertainty means that clients rely on our service more than ever. In our view, listening to clients and understanding their requirements is key, especially in the current climate.
FDIC-Insured Banking Services and Bank Deposit Products
** When booked in our Grand Cayman Branch, these deposits are not FDIC-insured.
Non-Deposit Investment Products
For those wishing to further diversify their portfolios, IDB Bank offers you a full array of non-bank products available through the Bank's wholly-owned broker-dealer subsidiary, IDB Capital Corp.*** Non-deposit investment products: (1) are not insured by the FDIC; (2) are not deposits or other obligations of, or guaranteed by IDB Capital Corp., IDB Bank or any other affiliate; and (3) may lose value. Certain non-deposit investment products are not available to U.S. citizens or residents and may not be available for purchase or sale in the U.S.
*** Member NASD/SIPC
Other International Private Banking Services
International Business Services
At IDB Bank we know the importance of speed and accuracy in processing your international business transactions.
Your IDB Bank International Private Banking account officer can efficiently process every type of international import and export financing transaction, such as opening documentary letters of credit, providing acceptance financing, and executing collections and payment orders worldwide.
IDB Bank's Letter of Credit Automated Customer Initiation System is a proven state-of-the art, personalized Internet-based Letter of Credit system that connects your company's personal computer directly with our Bank's Letter of Credit Department. IDB Bank's software makes issuing and amending your Letters of Credit faster, easier and more accurate than ever before. (See Trade and Finance)
To expedite payment requests, the Bank utilizes its Integrated Payment System, which provides instantaneous contact with a broad network of major correspondent banks locally and around the world. This sophisticated, yet user-friendly, electronic system assures that each incoming and outgoing payment order is promptly and accurately processed. We can also arrange for the purchase and sale of spot and forward contracts in most major, freely convertible currencies such as the Euro, Sterling, Yen and others****.
The International Private Bankers at IDB Bank and our related representatives are always at the disposal of our clients for complete information about our services.
**** Spot and forward contracts are non-deposit investment products and (1) are not insured by the FDIC; (2) are not deposits or other obligations of IDB Bank or any other affiliate; and (3) may lose value. Certain non-deposit investment products are not available to U.S. citizens or residents and may not be available for purchase or sale in the U.S.