The FedGlobal Canada Service enables U.S. financial institutions to send ACH credits and debits to Canada with the option of having the payment received in Canadian or U.S. dollars, depending on U.S. customer preference. This service is a cost-effective channel for cross-border payments to U.S. companies and individuals sending payments north of the border, such as credits for payroll, pension, annuity or utility payments or debits from consumers or companies in Canada for bills owed in the United States.
The "Morning Post" takes advantage of a distribution procedure used among Canadian financial institutions for payroll and pension payments. By supplying certain formatting criteria, U.S. financial institutions can provide funds availability-in either Canadian or U.S. dollars-by the opening of business on requested due dates, similar to how salary and pension payments are generally treated by U.S. ACH participants.
See how the FedGlobal Canada Service can help your organization. Request a customized value calculator from your account executive to evaluate this option for your institution.