check processing

Check processing is the name some folks use to describe the process banks use to record your checks, remove the funds from your accounts and transfer them to the accounts of the people or businesses you wrote your checks to. After that happened you used to recieve the canceled checks back with your next statement. Check processing under the new "Check 21 Act" is now handled differently. The big difference is that speed of processing has increased significantly making the "float" time some people routinely used to take advantage of banks a very dicey proposition - unless you enjoy paying bank fees for bouncing checks or overdrawn accounts. Another big difference in check processing under "the Check 21 Act" is that banks no longer are required to return your cancelled checks with your statement. Instead, they now scan your cancelled checks and return with your statement only pages of smaller sized prints of your scanned checks on 8 1/2" x 11" sheets of paper. What's missing however is the back of your check which can be very telling if the wrong person or business cashed it either in error or for fraudulent purposes.

check processing news:

Kofax Ninja Commercial Yields Over 1 Million YouTube Views
EMG's in-house production of a Kofax Image Products' commercial has impressively generated buzz across over 1 million YouTube viewers.

Maryland Natural Resources Police Blotter
The Maryland Natural Resources Police conducted special boating safety saturation patrols this past Saturday and Sunday, July 19th and 20th, on Deep Creek Lake to save lives and reduce the number of personal ...

Maine's Lobster Industry On The Brink Of Change
Maine's lobster industry is about to undergo dramatic change, says the president of the state's largest industry advocacy group.

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