Foreign Items


DEFINITION of 'Foreign Items'

A check/draft drawn on a financial institution different from the one it is being presented at. Foreign currency can also be considered a foreign item when depositing into the account, as special procedures may come into play.

BREAKING DOWN 'Foreign Items'

Foreign items may also be referred to as transit items. Canadian currency being deposited into a U.S. bank does not need to be handled differently, although exchange rates will be calculated.

  1. Exchange Rate

    The price of a nation’s currency in terms of another currency. ...
  2. Foreign Deposits

    A deposit made at, or money put in to, domestic banks outside ...
  3. Foreign

    1. A non-U.S. company with securities trading on the North American ...
  4. Check

    A written, dated and signed instrument that contains an unconditional ...
  5. Currency

    A generally accepted form of money, including coins and paper ...
  6. Bank

    A financial institution licensed as a receiver of deposits. There ...
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