Canadian Check Processing

The Canadian check processing service offered by Federal Reserve Banks' is an incidental service that enhances the Reserve Banks' traditional line of check clearing services.

Week Exchange Rate
10-06-08 to 10-10-08 0.9157
09-29-08 to 10-03-08 0.9642

Previous Exchange Rates

Notice: There has been a marked increase in the number of returned Canadian checks over the past few months. Much of the increase is from large dollar, fraudulent items. Depositing banks with the Minneapolis Canadian check service need to be aware of this increase and have an understanding of the return rules for Canadian checks. The rules are different from those governing US checks. As a result, your institution should carefully consider when it makes the funds available to a depositor for these items. For details pertaining to the Canadian return rules, please refer to the Canadian Payments Association (Off-Site Link).

Canadian Cash Letter Forms

All Canadian checks should be sorted into the proper category according to whether they are denominated in U.S. or Canadian dollar using the appropriate cash letter form. Please review the Canadian Check Collection User Guide for more information.

Canadian Check Collection User Guide

The purpose of this User's Guide is to assist you in using the Canadian Check Collection Service. We hope you will find the handling of Canadian items to be a simpler process by using this guide. Basic procedures for preparing and receiving Canadian work are outlined in this manual. If you have further questions concerning our Canadian service, we ask that you refer to the Canadian Check contact list

For more information about Canadian Check Collection Services, visit the service offerings pages or contact the Canadian Check Clearing Contacts.

Top of Page