Foreign cheque clearing provides corporations with a streamlined process to receive international payments. At EBC, we automate your clearing process with digital remote deposit for cheques to significantly reduce conversion time and costs, while increasing security.

Partner with EBC to continue expanding your business globally.

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Foreign currency cash letters

Cheques denominated in certain foreign currencies and drawn on a foreign bank in the same currency can be cleared on a cash letter allowing for quicker availability of funds, subject to certain conditions, including approval of credit limit.

Foreign currency collection items

An alternative solution to foreign currency cash letters is to clear the item on collection. EBC sends the item directly to the bank the cheque is drawn upon and proceeds once the item has cleared as good funds in EBC's local bank account. Collection times vary between countries, but typically take anywhere from four to eight weeks to clear.

Foreign cheque clearing features

  • Compliance verification system
    Online compliance screening
  • Enhanced cash flow
    Enhanced cash flow
  • Immediate credit and availability
    Immediate credit and availability, upon approval
  • Elimination of exchange rate risk
    Elimination of exchange rate risk
  • Low service fees
    Low service fees
  • Simplified process
    Simplified process
  • Reporting
    End of day reconciliation reporting
  • Cheque
    Collection cheque reporting status
  • Foreign currency exchange
    Real-time exchange rates
  • Dedicated support team
    Dedicated support team
International business made easier
Today, doing business internationally requires the delivery of local and cross-border payment and receivable solutions. Global commerce continues its expansion with more and more businesses growing through markets outside their own borders. At Exchange Bank of Canada, we understand the vital role we can play in easing the international trade process.
Streamline foreign receivables
Exchange Bank of Canada stands ready to help navigate you through clearing foreign denominated cheques. With the wrong provider, this can potentially be a costly and time consuming process. Businesses of all sizes can tap into our seamless, streamlined approach to collecting and converting foreign currency cheques to receive their payment on time.


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