Foreign Currency Cheques
These are foreign instruments issued in favour of GTBank customers by third parties. Foreign currency instruments that GTBank sends for clearing/collection on behalf of our customers include:
- Foreign currency cheques
- Foreign currency drafts
- Foreign currency Travelers cheques
- Foreign currency Money/Postal/Mail orders
Foreign instruments are sent for clearing on Tuesdays and Thursdays weekly, and customers are credited with the proceeds of their cleared foreign instruments on the 10th working day from the day the instruments are sent for clearing.
- GTBank clear instruments denominated in the following foreign currencies: USD, GBP, and EUR ONLY.
- Foreign currency clearing instruments drawn on banks in locations outside UK (For GBP and Euro cheques) or United States of America and Canada (For USD cheques) can still be sent for clearing on collection basis. However beneficiaries will only obtain value when GTBank receives value for the instruments, which may exceed 10 working days.