International Check Collection
Catalyst Corporate collects member credit unions’ international checks through an established network of international banks representing more than 200 countries.
Features & Benefits:
- Two processes are available:
- Provisional Process – Using this most cost-effective option, a credit union receives credit in four to five business days from the date that Catalyst Corporate receives the check. The item is subject to return and may be subject to adjustment if the return amount is higher than the provisional credit amount.
- Collected Process – The credit union typically receives credit in 8-12 weeks, but the credit received is guaranteed. Any returns are subject to additional fees. A minimum check amount is required to use this option.
- Credit unions receive credit directly to their account at Catalyst Corporate.
Resources:
Form: International Cash Letter – Collected
Form: International Cash Letter – Provisional
International Conversion Calculator