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

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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

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