The Fed Discontinues Canadian Checks, and What's Next for International Payments?
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The Fed Discontinues Canadian Checks, and What's Next for International Payments?
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The Federal Reserve recently announced it will be sunsetting its Foreign and Canadian Check Service by year-end 2026, driven by declining transaction volumes and changing market demand, and community banks are racing to find alternative options. While Canadian checks are a small part of business for most banks, even services used infrequently can still play an important role for community banks and their customers. In this episode, Dan Caputo from ICBB's international payments partner, Ascendant, and customer experience manager, Chasity Bruce, discuss the transition and how community banks can prepare.
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