Reduce Your Bank's Processing Time & Costs
Checks are still an essential part of banking. Although time-consuming, there has been no other efficient way to process checks drawn on Canadian banks than through the mail system. With the reliance on air and ground transportation to transfer checks, manually processed Canadian items become vulnerable to many interruptions, such as bad weather, resulting in longer processing delays.
Benefits of UBB’s Imaged Canadian Cash Letter Processing:
Customer Service:
- Faster Clearing Cycle & Availability of Funds: Rather than having to wait for multiple correspondent banks along the processing channel, checks can be scanned and credited in 1-2 days.
- Reduced Risk: Once the deposit is processed, it is then committed to our database. The deposit and its data will be available for research, retrieval, reporting, and more.
- Exchange rates and exact totals are available immediately.
- Depositor information is stored — no re-keying necessary.
- Smart Scanning: the system will help identify USD items being deposited as CAD.
Cost Reduction:
- Eliminate Postage Costs: Our check scanner eliminates the need to mail checks through each processing channel.
- Reduced Processing Costs: When you process your items with UBB, you can expect to pay a fraction of the cost compared to the Federal Reserve.
The UBB Method: Faster Processing + Clearing
With UBB’s Imaged Canadian Cash Letter Processing, community banks will reduce processing times and costs. Best of all, imaged checks can be processed as soon as the next day.
How UBB’s Simplified Imaged Canadian Cash Letter Processing Works:
- Your bank logs into UNET, scan checks, and enters check details.
- Your bank approves and submits checks.
- UBB credits your account in 1 to 2 days.
Contact us today to take advantage of this opportunity to reduce your processing times while providing your customers with better service.
To receive additional information and pricing, please click on the button below and complete the request form.