You’re not alone.
Despite every SaaS tool, cloud ledger, and AI-based approval system, a chunk of B2B payments still show up by mail.
Add a Canada Post delay, and now your cash flow depends on weather and union negotiations.
But the real question isn’t “Why are cheques still a thing?”
It’s: Why is this the only way your client can pay you without eating a $50 wire fee?
Cheques are just the tip of the iceberg
Even when clients pay online, the default is usually SWIFT or wire transfer. That means:
- They pay a fee to send
- You pay a fee to receive
- You both wait 1–3 days
- And the payment hits your account minus FX loss and deductions you didn’t approve
Here’s what modern finance teams are doing instead:
They’re issuing USD ACH accounts through Finofo.
That means, your clients can send funds via ACH, just like they do to any US vendors. You receive clean, local USD transfer without a conversion fee. Reconciliation is faster, and your team is not chasing weird tracking numbers.
With Finofo You’re not changing your bank. You’re changing the rails.
You don’t need to overhaul your systems. You just stop relying on outdated, expensive infrastructure to receive money. It’s cleaner. It’s faster. And it actually helps your team close the books on time.
If you’re still accepting cheques or wires from U.S. clients, it’s not your fault.
But it’s fixable.
Let’s fix it here - https://www.finofo.com/platform/global-receivables
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