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.