How Check 21 Will Impact Your Business: 3 Ways the Banking Act Will Affect Entrepreneurs
- Topics:
- Commercial Banking
- Tags:
- Bank,
- Banking,
- Check,
- Check 21,
- Entrepreneurship,
- Financial Services,
- Management
- Source:
- Entrepreneur Media
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Overview: This article focuses on the Check 21 legislation and the effects it would have on entrepreneurs. In a nutshell, Check 21 allows banks to replace paper checks with a digital copy of the check, called a substitute check. Once a paper check has been transformed into a substitute check, the bank will then be able to process the substitute check image literally at the speed of light rather than taking days to physically haul a paper check from one bank to another to another.
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Format: HTML | Date: Sep 2004 | Pages: 3
