How Will Check 21 Affect You?

You may already know about Check 21, a federal government law that

goes into influence on October 28, 2004. If you are like me, this may

be something you hadn’t found out about until just yesterday. The

How Will Check 21 Affect You? your bank statement

Check Clearing for the 21st Century Take action, otherwise referred to as Check

21, is the procedure for turning the checks your compose into images and

transmitting them by pc.

What does indeed this mean for you?

Expect enough time your check clears to diminish drastically. In the event that you live

paycheck to paycheck and frequently count on a a couple of time “grace period” to get

funds into your accounts after paying bills, you will have to re-organize your budgeting

process. Checks will clear in just a matter of hours now, not days and nights.

You won’t be getting the cancelled checks again with your

bank statement.

If you get some thing, it’ll be a “substitute check”

which is a specific sort of copy of your initial check.

You could be charged extra fees. It is possible that employing this method,

your check will end up being paid out twice: once with the initial as soon as with the

scanned image. Or there can be an error manufactured in the total amount a check

was written for along the way of turning an paper look into an electronic


What you must do:

Re-organize your budget. You need to make certain you have the

funds in your bill to covers every check you produce to avoid bouncing

any checks.

Request substitute checks. You won’t be eligible for a credit to your

account if one has been made if you don’t have an alternative check.

Balance your checkbook. For anyone who is not in the behavior of balancing your

checkbook together with your bank statement every month, it is advisable to start.

This will make certain that you will discover any mistakes that might have been made.

Learn even more. Consumer’s Union didn’t support Check 21. Discover out why

and find out more on Check 21

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