• Financial Institutions
• Corporations
• Travelers

• SOLUTIONS
• Foreign Bank Note Exchange
• International Drafts
• International Wire Transfers
• Global EFT
• Foreign Check Clearing
• Foreign Draft Issuance

• INDUSTRIES
• Travel
• Technology Companies
• Payroll
• Healthcare
• Nonprofit
• Partnerships

Foreign Currency Cheque Clearing

Foreign cheque clearing provides additional service value to existing and potential customers, while also improving your revenue stream.

Automate your clearing process with digital remote deposit for CAD checks to significantly reduce time and costs, while increasing security.

Let your personal and business account holders tap into the global economy by allowing your clients to deposit foreign check items.

Partner with EBC to gain these additional services, while lowering the costs of clearing foreign cheque through your institution.

Learn more

Why is EBC the best provider for foreign cheque clearing?

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

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  Online compliance screening
• 
  Enhanced cash flow
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  Immediate credit and availability, upon approval
• 
  Elimination of exchange rate risk
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  Low service fees
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  Simplified process
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  End of day reconciliation reporting
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  Collection cheque reporting status
• 
  Real-time exchange rates
• 
  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.

Testimonials

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

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