Incoming Foreign Checks
International trading partners may pay by checks drawn on an international bank, denominated in either US dollar or foreign currency. WSFS can clear these checks with ease and deposit funds into a WSFS customer account in a timely fashion.
Cash Letter versus Check Collection
Checks for specific currencies and amounts can be cleared, converted, and credited to a customer’s account, often within a matter of days.
Checks that do not meet cash letter criteria or thresholds are considered check collection items. After the check has cleared in the country of origin, the funds will post to the WSFS customer’s account. This process typically takes six to eight weeks.
Canadian Check Rapid Clearing
WSFS leverages our relationships with key Canadian banks to enhance our check clearing capability in Canada and provide improved efficiencies.
WSFS Incoming Foreign Check Process
Customers can deposit incoming foreign checks by visiting their local branch or mailing the check directly to:
WSFS Deposit Operations
330 E. Lancaster Avenue
Wayne, PA 19087
Tips to Identify Fraudulent Checks
- Confirm the check is issued by a real bank.
- Make sure there aren’t any smudges or discoloration which may indicated the check was altered.
- Identify security features like a security screen and the words “original document” on the back of the check.
Frequently Asked Questions
A WSFS Capital Markets expert will help you find the right solution.
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