U.S. Pay Through Chequing Account
U.S. Pay Through is designed for business customers issuing cheques destined for the United States. U.S. Dollar Pay Through facilitates the clearing of cheques drawn on your U.S. Dollar business account (domiciled at a Canadian branch of TD Canada Trust) through the U.S. Federal Reserve Cheque Clearing System. This helps make timely, trouble-free cheque negotiation to your U.S. suppliers.
What U.S. Dollar Pay Through Offers You
- Maintain a U.S. Dollar current account domiciled at a Canadian branch of TD Canada Trust
- Use specially encoded U.S. Pay Through cheques to pay your suppliers
- Clear cheques through the U.S. Federal Reserve system
The Benefits of U.S. Dollar Pay Through
- U.S. suppliers may experience easier settlement, quicker access to funds and the elimination of collection charges
- U.S. Pay Through cheques are more readily accepted by companies in the United States as they have ABA (American Bankers Association) encoding and a Financial Institution U.S. address for clearing purposes
- Your company maintains your normal practice of cheque issue for supplier payments
For more information, contact a Relationship Manager at the Commercial Banking Centre nearest you.