International Services Shouldn't Feel Foreign
Do you ask yourself questions like this?
Do I have top-tier technology to better serve my customers?
Am I applying the proper risk management procedures?
Why is my International platform a hassle to use?
Why am I not a priority when I need help?
HOW WE CAN HELP
Our international services support you every day and save your customers money
As today’s economic environment continues to rapidly change, the demand for global funds transfer services and settlement has grown tremendously. SouthState has a full service International and Foreign Exchange Group. Our services include Wire Transfers in Foreign Currency and US Dollars, Foreign Banknotes, Foreign Drafts, as well as Foreign Check Clearing (Provisional and Final Credit).
Generate Fee Income for Your Bottom Line
Use our spread income solution to increase revenue on FX Wires or as an alternative to charging your customer a traditional Wire Fee.
Save Your Customers Time & Money
Our extensive network of relationships allows us to identify the most efficient and cost effective routes for delivering your customers Outgoing Payment Orders.
Gain Peace of Mind
We offer a fully compliant option for our customers that are required to follow Reg E – Foreign Remittance guidelines for International Outgoing Payment Orders. These receipts are customized by customer and include all of the required disclosure information.
Eliminate Frustration & Confusion
Our team of International Experts is available to assist every step of the way. When you call, we answer!
OUR SOLUTIONS
No Matter Your International Needs, We've Got You Covered
The remittance of funds is handled quickly and efficiently through our extensive network of foreign correspondents. In addition, we can provide your customers complete payment instructions for receiving payments from foreign countries. Our Reg E module produces pre-payment disclosures and consumer receipts providing the CFPB required delivery dates and fees.
Create an additional income stream for your bank utilizing our Spread Income feature. Income to your institution can be significant as your FX volumes grow. Our team will train your staff on how to educate clients on the benefits of sending payments in foreign currency. Many clients utilize their existing wire system to direct international activity to SouthState for processing, eliminating the rekeying of data. Through Converge, our online banking platform, you can import transactions to streamline entry, export details to simplify reporting and manage email notifications.
SouthState is a member of the Society for Worldwide Interbank Financial Telecommunications (S.W.I.F.T.). Our association with S.W.I.F.T. allows us to send the most secure messaging and wire transfers throughout the world on behalf of our financial institution clients.
Our international check clearing service gives financial institutions the ability to collect on checks drawn on foreign banks, in addition to checks drawn in other currencies. Clearing is done by Clean Collection or Cash Letter methods providing credit on a provisional or final credit basis.
Offer customers Foreign Currency Banknotes for international travel needs. Any unused notes are easily bought back at current exchange rates. Foreign Currency exchange rates are published on Converge and the easy to use FX calculator provides a quick quote feature for added simplicity. Next business day delivery provides a fast, reliable and cost effective service for your clients.
With constant exchange rate fluctuations, SouthState’s foreign exchange specialists can help advise your institution, thus helping your customers manage their foreign exchange risk.