Getting Ready FOR Check 21

Voelker, Michael P.
November 2003
Bank Technology News;Nov2003 Supplement, p16
Trade Publication
The article focuses on the preparation of banks and companies for the adoption of Check 21 legislation. It is viewed that the prospects of Check 2 are bright. Eight banks have been signed up by Small Value Payments Co., a payments company, for initiating a nationwide electronic check clearing utility for check collection. Although many financial institutions are treading the path of image-based check processing, a lot of paper work post-Check 21 still remains. Check clearing costs are expected to increase with banks supporting three different presentment platforms, namely, paper, electronics and image replacement documents. INSET: Getting Ready: One Bank's Story..


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