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.
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.
In the past, my company used services like World Remit or traditional wire transfers through our bank but EBC has made it super convenient to send money from the comfort of our offices. The service is excellent and the processing times are very quick!
Richard Adejumo, Business Owner
EBC makes paying international suppliers easy and saves us money with great FX rates!
Jeremy Anderson, President
Reliable service, speed of delivery, and feels like teamwork. Trust regarding sending your product first, pay you a day later.
Robert Djonev, Owner