CHECKS
A Concept by Savoia Graphics 2013
Your Source For Printed Business Forms & Checks - As Well as Letterhead, Envelopes, Labels, and more ...
We offer both custom and a Software Compatible line of checks and Forms (SCF). All checks are available with pantographs, varying levels of paper, and printed security features.
CHECK 21
What is Check 21?
• New federal law that takes effect 10/28/2004 • Designed to increase the efficiency of the check processing system, reduce costs and make it less susceptible to delays. Example of delays- 9/11/01 since all planes were grounded during 9/11 period, check transportation was delayed. Ground transportation had to be used. This caused major delays. • Check fact- $8 billion per year spent on check processing and transportation • The Check 21 act will affect all financial institutions and their customers, as well as fraud investigators and prosecutors. • Check 21 allows (but does not require) any financial institution in the check clearing chain to truncate any check (business or commercial) and convert it to an image.("Truncate" means to remove an original paper check from the check collection or return process and replace it with an electronic image.)