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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?

Easy interface
Utilizing its web-based system, CEIFX, CXI provides a comprehensive platform for clearing foreign checks safely and securely.
Our technology, CEIFX, automates the foreign check clearing process for more than 80 countries with Smart Check Identification.
CXI significantly reduces shipping costs with digital remote deposit for Canadian checks.
CXI can clear most foreign-denominated checks with ease, as well as USD checks drawn on foreign banks. This helps corporations accommodate customers’ needs in an increasingly globalized economy.

Foreign Check Clearing Methods

CEIFX’s Smart Check Identification determines if a check should be sent on Collection or as a Cash Letter

Foreign Currency Cash Letters
Available in more than 20 of the most common country/currency combinations
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
Available in more than 80 countries and currencies
Credit for the foreign checks is made available within 30–60 business days
Rates are provided upon the item being cleared from the originating bank
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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

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