Check 21: The Check Is Dead, Long Live Its Image

Topics:
Commercial Banking
Tags:
Celent,
Check,
Check 21,
Financial Services
Source:
Celent

FREE Registration is required

Overview: This paper outlines on check 21 regulations. Although Check 21 directly addresses only the creation of a substitute check, it indirectly revolutionizes check processing by opening the door to check truncation and image exchange. First and foremost, Check 21 does not make a check image or an electronic check presentment (ECP) file the legal equivalent of a paper check. Second, it does not require a bank to send or receive ECP files or to create a substitute check. Third, it does not require a bank to keep the original check for any specified time period (nor does any current law).

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 141KB | Date: Oct 2004 | Pages: 3

People who downloaded this item also downloaded

White Paper The top five most common hidden imaging and printing infrastructure costs
Case Study Unisys Case Study: City National Bank
Research Report Capturing Value From Check 21
White Paper How Check 21 Will Impact Your Business: 3 Ways the Banking Act Will Affect Entrepreneurs
White Paper Final Amendments to Reg CC Released

Top results from Commercial Banking

White Paper Undressing In Public: Harnessing The Power Of Web 2.0 To Rebuild Trust In Banking
White Paper Do Banks Strategically Time Public Bond Issuance Because of Accompanying Disclosure, Due Diligence, and Investor Scrutiny?
White Paper Nationwide Branching and its Impact on Market Structure, Quality and Bank Performance
White Paper Does Bank Lending Affect Output? Evidence from the U.S. States
White Paper Market Structure and Quality: An Application to the Banking Industry

» View all Commercial Banking listings

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Returning users: Log In Here!

Already registered on BNET, TechRepublic, or ZDNet? Simply log in.

Free Membership: Sign Up Now!

Sign up for a free membership today and get instant and unlimited access to one of the largest databases of white papers, webcasts, and casestudies anywhere. Your FREE membership allows you to:

  • Download an unlimited amount of content, including classic and current white papers, case studies, webcasts and more
  • Track content on your chosen topics of interest
  • Receive targeted email alerts when your favorite content is added
  • Save content for future reading
  • Receive our member newsletter

When you register to access this directory, you become a member of BNET. In addition, you allow us to share your information with companies that produce products or services featured in the library--so that such companies may contact you with information and offers regarding their products and services. This enables us to keep the library a free service. As a directory registrant, you will receive a complimentary subscription to the BNET member newsletter, The BNET Report. You can unsubscribe from this newsletter at any time. By clicking the Sign up button, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy (updated).