Check Exchange

In addition to its regional exchanges, SVPCO offers a National Check Exchange that allows our customers to exchange and settle checks and substitute checks across the U.S., under a single set of rules.

All users can reduce the costs of transportation, float, contingency operations and adjustments by leveraging SVPCO’s scale, geographic reach and extensive transportation system.

How it works:

• Member Financial Institutions transmits image file(s) to processor
• Processor creates IRD cash letters
• Processor (or agent) delivers IRD cash letters to SVPCO site
• SVPCO delivers cash letters to payor institution
• SVPCO settles cash letter
• SVPCO invoices sending institution for cash letter and per item fees
• SVPCO credits receiving institution $0.01 per item received @ 9:30AM

SVPCO provides an easy-to-use web-based settlement tool to add further efficiencies to the process.