Overview

Clients can buy foreign currency through the bank; and may seek to do so when traveling out of the country. Foreign currency requests submitted before the 1:00 PM deadline will receive the currency in the office the next business day. 

The bank handles most major currencies in the world and orders foreign currency (no coins) through First National Bankers Bank (FNBB). Contact Call Me Direct at ext. 397100 for approximate exchange rate and/or questions regarding the specific type of currency required.

The foreign currencies market can change several times each day, therefore exchange rates may differ between the time that the client requests or is quoted an approximate exchange rate and when they receive the foreign currency. The client’s account is debited or credited according to the current rate at the time FNBB processes the transaction.

Deposit Services processes the exchange of foreign currency.

Keep in mind the following:

• Foreign currency services are available to CCB clients only
• Advise client that currency quotes are approximate and subject to change
• No minimum dollar amount
• When a client purchases multiple currencies, each one requires a separate Foreign Currency Buy form. Fees apply to each order, however, multiple orders can be shipped together for one shipping fee.
•  Do not use any source for foreign currency exchange rates other than Call Me Direct (CMD) at ext. 397100.

Buy Procedures

To process a client's request to buy foreign currency, do the following:

1. Complete the Foreign Currency Buy Form. Note: Form must be typed, not handwritten.
2. Record the following information on the form:
   • Date
   • Office name and office number
   • Associate name and phone number/extension
   • Office address for delivery
   • Date, Client name, signature, and account number
   • Client daytime phone number
   • Foreign currency type and country
   • Either foreign currency amount or U.S. dollar amount
   • Special request (for example: Specific denomination requests)
3. Scan the signed Foreign Currency Buy Form then email the form to _Foreign Currency.
4. Deposit Services will email the details of the foreign currency charges.  Charges including overnight shipping fee, service fees, and CCB Foreign Currency Exchange fee.
   • Once received, contact the client to inform them of the amount that will be debited from their account.
5. Deposit Services will process the debit on the clients account. 
6. The currency is mailed to your office location within 1 business day and addressed to your attention.
7. Retain the original Foreign Currency Buy form in the office for completion when the client picks up the currency.

Office Receipt of Currency

When the foreign currency has been received by your office, do the following:

1. Under dual control, verify the amount and the type of foreign currency received.
2. Under dual control, secure the foreign currency and the original Foreign Currency Buy form in the vault.
3. Contact the client to schedule a pickup of the foreign currency.

Client Pick up

When the client picks up foreign currency, do the following:

1. Verify the amount and type of foreign currency received with the client.
2. Record the current date and obtain the client's signature on the Foreign Currency Buy form before giving currency to client.
3. Provide the client with the currency.
4. Image the original signed Foreign Currency Buy form to the client's CIF record following scanning procedures.