Collection of Foreign Cheques

Collection of cheques issued by international clients.

BPI provides three manners in which the money from cheques received from abroad may be obtained:

  • Purchase / Payment: immediate availability of funds, applicable to cheques issued by other banks and drawn on BPI, and traveller's cheques;
  • Negotiation: the cheque is paid at a firm exchange rate by credit into the account, but subject to good payment, the Client having the right of recourse.
  • Collection: BPI credits the Client's account after having collected the cheque from the drawee bank.

Reduction of time required to obtain the funds from sales in the international market.