As today’s economic environment continues to rapidly change, the demand for global funds transfer services and settlement has grown tremendously. CenterState Bank has a full service International and Foreign Exchange Group. Our services include Wire Transfers in Foreign Currency and US Dollars, Foreign Drafts, as well as Foreign Check Clearing.
Foreign Wire Transfers
The remittance of funds in almost any type of currency is handled quickly and efficiently through our extensive network of foreign correspondent banks. In addition, we can provide your customers complete payment instructions for receiving payments from foreign countries. Our Reg E module produces pre-payment disclosures and consumer receipts providing the CFPB required delivery dates and fees.
Create an additional income stream for your bank utilizing our Spread Income feature. Income to your institution can be significant as your FX volumes grow. Our team will train your staff on how to educate clients on the benefits of sending payments in foreign currency. Many clients utilize their existing wire system to direct international activity to CenterState for processing, eliminating the rekeying of data. Through Converge, our online banking platform, you can import transactions to streamline entry, export details to simplify reporting and manage email notifications.
CenterState Bank is a member of the Society for Worldwide Interbank Financial Telecommunications (S.W.I.F.T.). Our association with S.W.I.F.T. allows us to send the most secure messaging and wire transfers throughout the world on behalf of our financial institution clients.
We have the capability to issue drafts in all major currencies around the world, giving your customers a reliable way to send funds to individuals or bank accounts overseas. Foreign Drafts also give your customers an alternative payment method when situations are less time sensitive.
Foreign Check Clearing
Our international check clearing service gives financial institutions the ability to collect on checks drawn on foreign banks, in addition to checks drawn in other currencies. Clearing is done by Clean Collection or Cash Letter methods providing credit on a final or provisional credit basis.
Through CenterState Bank, you have the ability to offer customers Foreign Currency Banknotes for international travel needs. Any unused notes are easily bought back at current exchange rates. Foreign Currency exchange rates are published on Converge and the easy to use FX calculator provides a quick quote feature for added simplicity. Next business day delivery provides a fast, reliable and cost effective service for your clients.
Foreign Exchange Advisory Services
With exchange rates fluctuating daily, CenterState Bank’s foreign exchange specialists can help advise your institution, thus helping your customers manage their foreign exchange risk.
For more information, please contact Janet Reynolds at (770) 850-3420.