Corporations - Foreign Check Clearing

Participating in the global economy offers immense opportunity to expand a business. With it comes international receivables. CXI stands ready to help navigate corporations through clearing foreign checks by streamlining the process to minimize conversion costs and time. With the wrong provider, this task can be arduous and even turn businesses away from profitable markets.

The CEIFX online software provides a comprehensive platform for clearing foreign checks. 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 Methods

Foreign Currency Cash Letters

  • More than 20 of the most common country/currency combinations qualify for Cash Letter.
  • Clearing foreign checks on Cash Letter expedites the credit to the financial institution (and your client).
  • Rates can be locked in at the time of entry.

Foreign Currency Collection Items

  • More than 80 countries and currencies are available for processing on Collection.
  • Credit for the foreign checks are made available within 30-60 business days.
  • Rates are provided upon the item being cleared from the originating bank.

Benefits To Corporations:

  • Smart Check ID
  • Reduce fees and conversion time
  • File upload (bulk) and integration into treasury and core systems
  • In-depth, flexible, and exportable reporting
  • Easy shipping with live tracking
  • Email notification with live status updates
  • Dedicated trader and support team

A dedicated trader and experienced support team provides businesses a roadmap to successfully start or optimize their international payments through financial and operational efficiencies.