Overview
Canadian checks, including Canadian checks in U.S. dollars, can be processed through Office Capture with proper approval for established clients. There is a $10 collection fee for each Canadian item processed as noted on the Other Services & Fees brochure.
A Canadian check with a face value of $500.00 or less (Canadian or U.S. funds) not sent for collection, can be deposited into an established client's account and processed through Office Capture. Canadian checks over $500.00 must be sent for collection unless approved by one of the following:
- Client Experience Manager
- Teller Experience Supervisor
- Officer
Note:
- Because a $10 collection fee is processed for each Canadian Check item, it is not recommended that you process checks of $20.00 or less.
- Canadian items cannot be accepted or processed at an Interactive Teller Machine (ITM). Do not direct clients with Canadian items to an ITM machine.
- Reg CC does not apply to foreign items, DO NOT place holds.
Canadian Check Deposit
A Canadian check with a face value of $500.00 or less (Canadian or U.S. funds) not sent for collection, can be deposited into an established client's account and processed through Office Capture.
To deposit a Canadian check, do the following:
- Have the client complete a DDA Deposit Slip for the face amount of the item(s).
- Process the deposit transaction at the teller line for the face amount of the item(s).
- DO NOT provide a rate quote on any Canadian item in non-U.S. funds as the exchange rate may vary based on the date the item is processed by the paying bank.
- Scan the transaction through Office Capture.
- For checks(s) not in U.S. funds, Deposit Services makes adjustments to the deposit amount the following business day based on the current exchange rate as identified by the paying bank.
- Associated fees are deducted by Deposit Services.
Approval Process
Canadian checks over $500.00 must be sent for collection unless approved by one of the following:
- Client Experience Manager
- Teller Experience Supervisor
- Officer
**Know your client before you approve**
If approved, follow the procedures for Canadian Check Deposit AND do the following:
- The approving associate writes his/her first initial, full last name, and phone extension on the front of the check in the upper left hand corner.
- By doing this, you acknowledge that you are taking the responsibility of approving the check for next day availability.
- When proper approval is received, the teller processes and scans the transaction in Office Capture.
- If proper approval is not obtained, see Collections procedures.
Note: Reg CC does not apply to foreign items, DO NOT place holds.
Check Retention
Once the check has been processed at the teller line and has been scanned through Office Capture, pull the item and retain it in the office for 90 days. Do not send the item to Deposit Services.