International Banking Services FAQs

• No minimum or maximum transaction amounts
• Foreign bank notes delivered to your office in 24 hours
• Ability to offer your customers competitive rates on foreign exchange transactions
• Ability to execute international wires in most major and minor currencies
• Capability to sell or buy bank notes from around the world, including all major currencies
• Authorization controls allow only designated users to execute transactions
• Indicative rate quotes available online
• Online calculators to help simplify currency conversions
• OFAC notifications
• A full PCBB team dedicated to keeping you abreast of regulatory changes and other updates, as well as assistance with compliance as it relates to international transactions (including Reg. E which applies to international consumer-initiated remittances)

All of PCBB’s Cash Management and International Services can be accessed through the Correspondent Bank Connection (CBC) platform. CBC is a secure, state-of-the-art, online cash management system designed and developed by banking professionals FOR banking professionals. Through a secure, encrypted portal, your institution can trade and access all of your institution’s transactions.

INTERNATIONAL	EASTERN	CENTRAL	MOUNTAIN	PACIFIC
Outgoing Payment Order
Foreign Exchange (FX)	4:45PM	3:45PM	2:45PM	1:45PM
US Dollar (USD)	5:00PM	4:00PM	3:00PM	2:00PM
Regulation E: USD or FX	4:00PM	3:00PM	2:00PM	1:00PM
International Foreign Currency	4:45PM	3:45PM	2:45PM	1:45PM
International Foreign Draft	4:30PM	3:30PM	2:30PM	1:30PM
Canadian Checks via Imaging	5:00PM	4:00PM	3:00PM	2:00PM
International Investigation Request	7:00PM	6:00PM	5:00PM	4:00PM
Currency Rates	24 Hours	24 Hours	24 Hours	24 Hours

Note: Next-day processing after deadline

Customer Service: (888) 399-1912
Preferred Rates: (888) 996-7444

We offer our customers extremely competitive rates. The rates, also called inter-bank rates, are published daily online, and are used for multi-million dollar trades between banks. Customers should expect to pay a rate higher than the inter-bank rate, but a competitive rate, based on the value of the transaction.

Providing international wires allows your bank to meet the growing needs of customers doing business overseas. If you’re not providing this service to your customers, you run the risk of losing their business to a bank that does.

Whether a wire is being sent to the account of a person or a business, some mandatory fields are required. These include:

• Beneficiary’s Name
• Beneficiary’s Complete Address
• Beneficiary’s Bank Name and Swift code
• Beneficiary’s Bank Address (including branch)
• Sender’s Name
• Sender’s Complete Address

It is also important to establish the currency in which the account is held.

Processing can be delayed if information is missing or incorrect. A receiving correspondent bank, or the Beneficiary’s Bank, may send a message saying the funds cannot be applied — or worse — the funds may be rejected and returned. The process becomes even longer when the Originator of the wire must be contacted to confirm details.

Yes, for individuals sending personal funds to a major country, it is typically preferred. However for commercial transactions, it depends on the agreement between the buyer and the seller.

PCBB’s Swift code is: PCBBUS66

Settling payables with your foreign suppliers in U.S. dollars passes the foreign exchange risk to the seller. If a commercial customer wishes to accept the risk and manage it, then it may be possible to pay in the local currency. It also depends if the country’s regulations allow it.

• Suppliers who quote in U.S. dollars often pad their prices to offset service charges, delays in collection and movements in the exchange rates. Your customers can avoid this premium on payables by simply settling in their own currency. This must be done at the time of the contract, not at the time of payment.

• In countries that experience severe currency restrictions, or products that settle in USD, they must settle in USD.
• In countries that experience dramatic inflation rates, such as with many South American, African and Middle Eastern countries, U.S. Dollars is the currency of choice by most suppliers.
• If your customers’ suppliers wish to be paid in their own currency, it may be the least expensive option for your customer. A customer may want to negotiate a price in U.S. dollars or the local currency, and pay in the currency must favorable. Before deciding, your customer should check with your bank first to check on the rate and when the payment due.

• Swift is responsible for processing, transmitting and messaging secure information from one financial institution to another, internationally.
• Swift GPI enhances the Swift international payment process by offering improved transaction speed and the ability to track where payments are at all times.

There is no action needed on your part. As an International customer of PCBB, you automatically have access to the Swift GPI network for all your international wires. You will be able to easily track your wire at every point from when it is sent to when it arrives at its destination.

• No added fees; it’s completely complimentary to our international wire pricing
• Payment details at your fingertips; track wire statuses and details using CBC
• Or contact a PCBB representative—we’re always available to help
• Works for both incoming and outgoing foreign wires
• Visibility into fees and payment charges, including FX rates (in some cases)
• Transparency for settlement: timing, amount, institutions involved
• Reduction in investigation time

International drafts are the best choice for smaller payments, i.e. those under $100.00 U.S. Dollars. For larger payments, consider using an international wire.

You can clear a check as a cash letter if a check is drawn on a bank in the same country as the currency of issue. However, there is one exception, which is that PCBB can clear Canadian Checks drawn in U.S. dollars as a cash letter.

• For example — a Japanese Yen item drawn on a bank in Tokyo

Collection items are checks drawn on a bank that is NOT in the same country as the currency of issue.

• For example — a Swiss Franc item drawn on a bank in Germany would be a collection item

Yes, PCBB can accept Canadian (USD or CAD) cash letters as an image through our Canadian Check Imaging solution

FX Forward Contracts offer a simple way to protect your business customers against changing exchange rates. They allow your customer to purchase or sell a set amount of a foreign currency at a specified price for settlement at a predetermined future date, or within a predetermined window of time. Additionally, with FX Forward Contracts your customer will know in advance the cost of future transactions with foreign suppliers and customers.

Attract and retain your business customers by enhancing your international capabilities with FX Forward Contracts. This service helps protect your clients against the risk of exchange rate fluctuation by “locking-in” foreign exchange rates for settlement at a future date while providing you with additional fee income.

FX Forward Contracts help your customers plan ahead and protect their international profit margins by stabilizing their cost of imports and foreign expenses.