Foreign check clearing provides corporations with a streamlined process to receive international payments. At CXI, we automate your clearing process with digital remote deposit for CAD checks to significantly reduce conversion time and costs, while increasing security.
Partner with CXI to continue expanding your business globally.
Why is CXI the best provider for Foreign Check Clearing?
Foreign Check Clearing Methods
CXIFX’s Smart Check Identification determines if a check should be sent on Collection or as a Cash Letter
Foreign Currency Cash Letters
Foreign Currency Collection Items
Benefits of Foreign Check Clearing for Corporations
Clearing foreign checks with CXI allows corporations to:
- Access 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
- Access a dedicated trader and support team
- Conduct Digital Remote Deposit for Canadian checks
FAQs
What are the full benefits of Digital Remote Deposit for Canadian checks?
- Uses X9 file type—most Check 21 compliant scanners are compatible
- Digitally endorse checks
- Process bulk checks quicker
- No more bundling or shipping CAD checks
- Integrated OFAC scan checks remitter, beneficiary, and bank drawn upon fields
- Compliance Verification System allows for live compliance checks of regulatory watch lists
- Increase security with fewer touchpoints in shipping and handling
- Validate MICR line
- Reduce entry errors and lost and damaged checks
- Real-time validation and transmission to expedite reconciliation time
- Reduced potential delays, errors, and fees for an enhanced processing experience
- Established resources to take advantage of digital remote deposit technology
Testimonials
As my broker, and a client for almost ten years. CXI is accommodating and always ensures our orders are met.
Richard Szczepaniak, Director of Financial Services at Altour
We are very pleased with the technology, our relationship manager, and the quick service and product capabilities.
Kim McKenna, Director of International Services at Rockland Trust
CXI makes the ordering process very easy. We rarely need customer service but if we do, they are very responsive if we have any issues or questions. I highly recommend CXI, we have been using them for years!
Beverly Malvitch, Assistant Vice President at Winchester Savings Bank