Cheque Clearing Services

CIBC's cheque clearing services include:

• Canadian dollar and U.S. dollar cash letters: Our Cash Letter Services provide same day value of funds*; cash letters are processed by INTRIA, a Canadian leader in payment and information processing services and a CIBC wholly-owned subsidiary
• Clean Collections**: CIBC can handle all of your collection items (drawn on any Canadian financial institution, in all major currencies) destined for Canada, from one central location; collections are processed by our Payment and Treasury Operations group

Key benefits

1. Fast, efficient cheque processing

• Receive same day value* of funds via our Canadian dollar and U.S. dollar cash letter services
• Benefit from timely payment of your collection items; we are equipped to handle all of your collection items drawn on a Canadian financial institution destined for Canada
• We can clear cheques drawn on any Canadian financial institution for you

2. Timely notification and credit to your account

• Receive credit to your account for the full amount of your cash letter; each cash letter received by the appropriate cut-off time will be recorded on the daily SWIFT (Society for Worldwide Interbank Financial Telecommunication) or mailed statement indicating the activity on your account and any chargeback will be credited/debited separately without charge
• Get an automatically generated SWIFT MT410 (collection acknowledgement) upon our receipt of your collection and a SWIFT MT400 (advice of payment) upon settlement

3. Dedicated and experienced customer service

• Our dedicated and experienced Customer Service Help Desk team is multilingual and can assist you in the investigation of all account activity, including payments, cash letters and collections
• Our fully integrated investigation system allows us to address your inquiries in a timely manner
• SWIFT inquiries are normally addressed within 1 business day

* You will receive same day value for all cheques drawn on a Canadian financial institution received by CIBC's cut-off times. For cut-off time, please contact our Correspondent Banking team.

** Cheques that are sent on a collection basis by the foreign bank which bear no other attached documents.

For more information on our cheque clearing services, please contact our Correspondent Banking team.

Please note:

The above is intended to be only a general description of this service and its features. Certain conditions, restrictions and exceptions may apply. CIBC reserves the right to change or discontinue this service or any of its features at any time. This service and its features shall be subject to the terms and conditions of the applicable agreement governing its use. For more information, please contact us.