Research has disclosed that every jurisdiction in the United States, regardless of size, has amassed countless stale-dated checks
amounting, conservatively, to hundreds of millions of dollars.
The ramifications of a few bounced checks
go beyond paying overdraft fees, says Raymond H.
AstenJohnson recommends that personnel make sure that there is proper clearance between fabric and apron; check
edge deckle/fabric clearance; check
the function of the guide mechanism; and ensure proper fabric tension.
While some banks may immediately cash some government checks
and many will cash checks
drawn on their own accounts, they are not in the check
In October, there were more than 8,000 bad checks
reported to the Los Angeles County District Attorney's Office Bad Check
Program, a 14 percent rise over the same period the previous year.
Since the adoption of the Check
21 Law (Check
Truncation Act) in October 2004, check
image exchange has been growing steadily every year.
There are two types of overdraft protection by which your checks
will be paid even though you do not have the funds in your checking account to cover them.
Each agency must take precautions not only to protect its undercover operatives but also to avoid the embarrassment that results when one agency learns that it has arranged to buy counterfeit checks
from the undercover agent of another agency.
Right now, it handles about a quarter of all the checks
written in this country.
Bank is piloting a new Web-based version of its popular On-Site Electronic Deposit remote deposit product, which allows customers to scan and process all incoming checks
in a back-office environment.
The Consumer Guide to Check
21 and Substitute Checks
describes ways that consumers may be affected by the new law and provides information on ways to resolve problems associated with the receipt of substitute checks
According to Barbara Hurst, editor of the Bankers Hotline newsletter, experts estimate that businesses lose $10-$12 billion a year from check
5) With the prevalence of laser printers and advanced duplication systems, the production of quality counterfeit checks
has become commonplace.
Membership in the Endpoint Exchange Network will provide these top-tier banks with the full interoperability to exchange, clear and settle check
images with more than 4,000 Endpoint Exchange member institutions across the country, regardless of asset size or check
imaging platform," said Jeff Vetterick, general manager, Endpoint Exchange LLC.
Appendix A provides a routing number guide that helps depository institutions determine the maximum permissible hold periods for most deposited checks