Check 21

Starting in October 2004, Federal law will recognize a new type of payment document called a "substitute check" that will be used for clearing and settlement. the Check Clearing for the 21st Century Act, the law that makes this possible, will permit quicker processing of checks by allowing financial institutions to convert your checks to electronic images for collection purposes. Once the image is transferred, the financial institution may create, from the image of the original check, a "substitute check." The government, media and industry call this new ability Check 21.

Print out the brochure to learn: The "float" will disappear; Consumer rights are protected; Check 21 should help combat payment fraud, and What you should know if you receive an actual substitute check.

Check 21 Substitute Checks Brochure