Substitute check — A substitute check (also called an Image Replacement Document or IRD ), according to the US Federal Reserve, is a special paper copy of the front and back of an original check . Not all copies of the original check are substitute checks, and… … Wikipedia
Check 21 Act — The Check Clearing for the 21st Century Act (or Check 21 Act) is a United States federal law, Pub.L. 108 100, that was enacted on October 28, 2003 by the 108th Congress. The Check 21 Act took effect one year later on October 28, 2004. The law… … Wikipedia
Check 21 Act — The Check Clearing for the 21st Century Act ( Pub. L. No. 108 100 signed by President Bush on October 28, 2003). The law facilitates check truncation by creating a new negotiable instrument called a substitute check, which permits banks to… … Financial and business terms
Certified check — A certified check or certified cheque is a form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written. Those funds are then set aside in the bank s… … Wikipedia
Non-sufficient funds — (NSF) is a term used in the banking industry to indicate that a demand for payment (a cheque) cannot be honored because insufficient funds are available in the account on which the instrument was drawn. In simplified terms, a cheque has been… … Wikipedia
Bank — For other uses, see Bank (disambiguation). Banker and Bankers redirect here. For other uses, see Banker (disambiguation). Banking … Wikipedia
Cheque truncation — (check truncation in the United States) is the conversion of physical cheque into electronic form for transmission to the paying bank. Cheque truncation eliminates cumbersome physical presentation of the cheque and saves time and processing costs … Wikipedia
Cheque — A Canadian cheque … Wikipedia
Remote deposit — refers to the ability to deposit a check into a bank account from a remote location, such as an office or home, without having to physically deliver the check to the bank. This is typically accomplished by scanning a digital image of a check into … Wikipedia
Demand draft — A demand draft A demand draft, also known as a remotely created check, a tele check, or check by phone, check by fax or echeck, is a check created by a merchant with a buyer s checking account number on it, but without the buyer s original… … Wikipedia
