Financial Institutions - Foreign Banknote Exchange

International Wire TransfersAs one of the largest and highly regarded foreign currency exchange vendors, Currency Exchange International has built its reputation not only on providing highly competitive exchange rates and excellent customer service, but also through the careful curation of mutually beneficial business relationships that offer you and your customer the best results. Whether your institution needs a bulk foreign bank note exchange partner to sell off large quantities of currency or needs a complete white-labeled outsourcing solution including drop-shipment directly to branches, CXI has the experience to find the right setup for your institution.

As a specialist in foreign currency exchange – it is all we do – CXI can help increase revenue and attract new customers to your institution. CXI uses its expertise in the field to create relationships that increase customer profits by offering extremely competitive rates and reduce labor and overhead costs. CXI’s proprietary software, CEIFX, automates the foreign currency exchange process with customizable setups and its Compliance Verification System (CVS) is built as the software's core to ensure compliance with all current federal regulations.

Open your doors for international travelers to quickly, safely and conveniently convert their U.S. dollars into foreign currency or foreign currency into U.S. dollars and your institution is able to introduce all of its banking services to potential customers it would have never seen before. Growing your foreign currency exchange market has never been safer for your institution.

Foreign Banknote Exchange Features:

Compliance Verification System (CVS) Integration

CXI's CEIFX software offers expanded compliance resources and an increased level of comfort when transacting with non-account holders by incorporating its CVS to the core of the software. The powerful CVS allows for live compliance checks of regulatory watch lists, easy to review matches, live-stop capabilities, branch hopper aggregation, and robust compliance reporting. This complete compliance integration within CEIFX has been designed to allow your institution to comply with and facilitate all foreign currency regulations set forth by the USA PATRIOT Act, OFAC, and the Bank Secrecy Act on a real-time basis.

Learn more about our software CEIFX...

Foreign Bank Note Services

  • Enable customers to buy and sell more than 80 foreign currencies from around the world.
  • Buy and sell U.S. and foreign American Express Traveler's Cheques.
  • White labeled foreign bank note interface for customers and downstream correspondent banks or credit unions.
  • Customized company setups with a full suite of inventory management solutions.
  • Automated transaction process and updated bank note verification images minimizes any chance for teller errors.
  • Integrated shipment tracking brings the up to date details about each transaction to you within one system.
  • Compliance friendly system has all the tools and information at your fingertips so any and all audits are handled smoothly.
  • A wide variety of user roles and permissions ensure your administrators are in control of how each user can interact with the system.
  • Custom built exportable reports and transaction email notifications deliver a trove of information to you with easy to use options and filters.
  • Full training program, marketing support, and live customer assistance to enhance currency and new program effectiveness.

Customized Company Setups:

Foreign Currency Services SetupAs one of North America's largest foreign banknote provider, we recognize that every business has different needs and CXI is able to deliver the best foreign currency solution for every type of relationship a financial institution could need. Our services are highly customizable to suit each situation and setups can be mixed. An example within one financial institution would be if some select high traffic branches are using consignment inventory, while the rest of the branches exclusively use non-inventory. Our team will take the time with every relationship to build the right setup for you.

Centralized Systems

  • Centralized systems generally contain a central inventory location or hub ordering process where locations submit their orders to be fulfilled through the main international department.
  • Clients own their own inventory.
  • CXI offers bulk wholesale bank note trading at the best rates and service. Rates and trades can be locked in over the phone, through email or on our online trading platform, CEIFX.

Decentralized Systems

  • Many customers have found the advantage of not having inventory or keeping a small inventory and thereby allow their branch offices to buy and sell directly to Currency Exchange International.
  • Decentralized systems have helped reduce the cost of labor and shipping as well as reduce risk associated with holding currency such as theft and rate fluctuations, allowing for increased profits to the client.
  • CXI customizes relationships with its clients so that time and money are saved for all parties involved.

Non-Inventory (Decentralized)

  • Financial institutions have found that most branches work efficiently by dealing directly with CXI without holding any currency on site.
  • Foreign currency orders are drop-shipped directly to each branch for convenient and quick fulfillment of orders. When the branch buys back foreign currency, it is sent out to CXI without burdening the branch.

Inventory on Consignment (Decentralized)

  • Select high traffic locations that require a sufficient inventory on hand to satisfy walk up transactions immediately.
  • In such high traffic environments, having a foreign inventory available can significantly increase the currency exchange volume at that location.
  • Eliminates the capital investment compared to a financial institution owning their own foreign currency.
  • CXI tailors inventory targets for this special relationship to meet the demand of each customer's market.