Changing the way you deposit foreign funds
As a result of changes with our third-party service providers, we can no longer accept cheques from foreign banks or financial institutions, effective immediately.
Now, you should have foreign funds sent to your account via wire transfer – which also gives you access to your money faster.
With wire transfers, the money is available within 1-5 business days, compared to cheques from foreign banks, which take 15-45 business days to clear. The faster clearing time also helps reduce exposure to fluctuating exchange rates.
We do charge a $15 fee for incoming wire transfers, and the sender’s bank may also charge a fee, so you’ll need to take those fees into consideration.
If you have any questions about the change, please get in touch.
Thank you for banking with us!