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. Using CXI's web-based software CEIFX, financial institutions have a secure environment that streamlines the clearing process. Foreign check items can be cleared on Collection or as a Cash Letter basis based on the financial institution's predetermined thresholds.
The CEIFX system is designed to reduce user error and automate the check clearing process. The system features Smart Check Identification that is designed to automatically detect whether a check should go to Check Collections or as a Check Letter based on pre-determined limits. Additional features of the CEIFX system include:
Learn more about how CXI's Foreign Check Clearing service can help your financial institution.