When a cheque is presented to us, it will be sent the next business day to a data centre at the regional exchange point serving that location, and then delivered to the issuing branch. A courier fee of USD $100 is applied to your account right away whether the cheque clears or not, if it does not clear, another USD $100 fee is applied to your account for the cheque to be returned to us.
Once a cheque arrives at the issuing financial institution, the branch holding the account on which the cheque is drawn must be identified. The cheque will be routed or "presented" to the branch of account, or the designated unit within the "drawee" institution, where it is determined whether the cheque will be honoured or returned (for example, for insufficient funds or a stop payment order).
This process is commonly referred to as making the "pay/no pay decision".
Once the cheque arrives at the branch of account, the branch has to make the "pay/no pay" decision. If the cheque is not honoured, it must be returned to us. The return journey retraces the forward delivery or "presentment" route.
We can process cheques in any currency drawn on most banks worldwide; however we have very specific rules in offering this service. To start with, the cheque or draft must be made out to First Global Treasury Services LLC, with the reference of your company and account number on the face of the cheque in the memo area on the lower left side. Any cheques presented made payable to your company name will not be processed, and a courier fee of USD $100 will be applied to your account and the cheque sent to you (if funds are not available the item will be destroyed).
