Foreign check-clearing provides additional service value to existing and potential customers, while also improving your revenue stream.
Automate your check clearing process with our digital remote deposit for CAD checks to significantly reduce time and costs, while increasing security.
Let your personal and business account holders tap into the global economy by allowing your clients to deposit foreign check items.
Partner with CXI to gain these additional services while lowering the costs of clearing foreign checks through your bank or credit union.
Why is CXI the best provider for Foreign Check-Clearing?
Foreign Check-Clearing Methods
Cash Letter Services
Check Collection Services
Foreign Check-Clearing Features:
Smart Check Identification
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.
Removes the user’s need to identify the classification of the foreign item themselves, reducing errors while processing the check.
Avoids delays in payment of checks due to errors.
Easy-to-Use Interface
White-labeled check-clearing interface.
Customized cash letter and collections thresholds.
Maintain a pre-approved customer database to allow threshold overrides.
Export and import integrations are available to and from core banking software.
Integrated shipping with live tracking of check items.
Live email notifications for transaction status updates.
Compliance Built At Its Core
Wide variety of user roles and permissions.
Customizable and "build your own" compliance reports provide access to view detailed information.
Export reports to common file types.
Live OFAC screening on designated and designated fields.
Digital Remote Deposit For Canadian Checks
New solution for banks and credit unions to clear all foreign checks drawn on Canadian financial institutions.
Faster, safer, and more secure way to clear Canadian checks.
Streamlined processes mean less labor and resources.
Reduced processing time to clear checks.
Increased security.
OFAC integration.
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 check's remitter, beneficiary, and bank drawn upon fields
- Compliance Verification System allows for live compliance checks of regulatory watch lists
- Increase security with fewer touch points 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
We have outsourced our FX business and don't have a thing to worry about. We know it is done right and they make the client experience very pleasant. The onboarding experience with CXI was smooth. They were timely, professional, and excellent communicators. CXI is top of the bill when it comes to my satisfaction.
Donald Lloyd, SVP Head of Capital Markets at Associated Bank
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
Century Bank has been a long time customer of CXI and have enjoyed the incredible service that the CXI team provides. They are able to provide competitive rates and superior service all while providing extraordinary service. They are a great partner to expand your offerings.
William Gambon, Senior Vice President at Century Bank