CEIFX provides a comprehensive platform for processing foreign check items in a safe and secure environment. Utilizing its web-based system, CXI provides a customizable, compliance-focused experience in CEIFX based on the institutions processes and controls in place. CEIFX automates the foreign check clearing process for more than 80 countries and their currencies with Smart Check Identification which automatically detects if a check should be sent on Collection or as a Cash Letter.
CXI can clear most foreign denominated checks with ease, as well as USD checks drawn on foreign banks, better accommodating customers’ needs in an increasingly globalized economy. Foreign check clearing provides additional service value to existing and potential customers, while also improving your revenue stream. Let your personal and business account holders tap into the global economy by allowing your clients to deposit foreign check items. Giving account holders the full range of payment options will keep their personal and business finances moving forward. Partner with CXI to gain these additional services, while lowering the costs of clearing foreign checks through your institution.
An exclusive feature designed to automatically detect if a check should be processed on Collection or as a Cash Letter based on the bank’s predetermined thresholds. This removes the user’s need to identify the classification of the foreign item themselves reducing errors while processing the check. Errors can cause a delay in payment for the foreign check and take additional time to correct.