TITLE

Digital Deposits

AUTHOR(S)
Hromadka, Erik
PUB. DATE
April 2007
SOURCE
Indiana Business Magazine;Apr2007, Vol. 51 Issue 4, p18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article offers information on digital deposits in Indiana. Businesses can now process checks and receive payment on the day the check is presented. The Check Clearing for the 21st Century Act (Check 21) created a new negotiable instrument called substitute check, wherein it allows banks to process check information electronically and deliver to banks. Furthermore, a substitute check is the legal equivalent of the original paper check and includes all the same information.
ACCESSION #
24878788

 

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