North American (NAFTA) Treasury Management Services
If you are looking to streamline your banking relationships in North America, Wachovia provides multiple solutions for your Canadian and Mexican Treasury Management needs. Our partnership with Bank of Montreal (BMO Financial Group) in Canada, and BBVA Bancomer in Mexico, allows us to leverage these banks' extensive networks to meet all your company's treasury needs in these expanding markets. Our customer care model allows you to deal directly with Wachovia for all servicing and account operation issues, rather than dealing directly with the foreign banks.
Treasury Solutions in Canada
Deposit Accounts Available in U.S. and Canadian Dollars, deposit accounts are ideal for companies that collect accounts receivables in Canada. These can also be used for check disbursements or in conjunction with Lockbox or Concentration Accounts.
North American Automated Lockbox (NAAL) Designed for companies collecting under 10,000 non-scannable or OCR-readable items per month. Receipt information is electronically transmitted on a same-day basis for both Canadian and U.S. Dollar receipts.
Concentration Accounts Designed for companies collecting a small monthly volume of payments (less than 30 transactions per month).
Disbursements and Integrated Payables Wachovia provides information on your Canadian disbursements in your domestic electronic payment file. Foreign disbursements can be made by check, draft, or wire, and funded by either U.S. Dollar or foreign currency accounts at Wachovia.
Positive Pay Wachovia is committed to assisting your company in preventing check fraud. To guard against the possibility of check fraud, you are immediately notified of any check presented for payment against your company's accounts, or you can specify a critical cut-off amount.
Global Information Reporting Wachovia offers multiple information reporting options that enable your company to access detailed Canadian and U.S. Dollar transaction and balance information.
Treasury Solutions in Mexico
Demand Deposit Accounts (DDA) These accounts are available in either U.S. Dollar or Mexican Peso-denominated funds for collection and disbursement transactions. Wachovia also offers check disbursements.
Immediate Concentration of Funds Service (Concentracion Immediata Empresarial – CIE) This over-the-counter deposit service provides check and cash receipts in U.S. dollars or Mexican Pesos. Deposit slips are used for individually deposited items to provide accounts receivable information.
Funds Transfers These can be initiated through Wachovia Connection or on any other Wachovia payment product on an individual or automated basis. Future dated payment requests can be established to automatically transfer funds according to a specific day, date, and target balance.
Global Information Reporting Wachovia offers multiple information reporting options that enable your company to access detailed Mexican Peso and U.S. Dollar transaction information.
