Foreign Checks

Question 1

What is a foreign check?

Answer 1

Check drawn from another country

Question 2

What is the appearance of a foreign check?

Answer 2

They have routing numbers with comas (9 digits)

Question 3

Should you process a foreign check through Horizon?

Answer 3

No, never process these checks on horizon

Question 4

What to do with the foreign check?

Answer 4

• Make a copy of the check and deposit slip
• Scan a copy of the check
• Teller Stamp the receipt for the customer (THE RECEIPT IS HANDWRITTEN) (DO NOT Stamp the copy of the check
• Give it to the client
• Send a copy to ops to make them aware of the check with a scanned image
•  Interoffice the check and deposit slip to Ops (send the physical check and deposit slip)

Question 5

What to say to the client when receiving a foreign check?

Answer 5

• Explain that non-U.S.-based checks must be sent for collections
• Explain that there is a processing fee ($25 per Canadian check and $40 for all other checks)
• Let the client know that it takes about 3 to 4 weeks to process