Everything the Consumer Needs to Know About Check 21
Check 21, the law that makes it easier for banks to electronically transfer check images instead of physically transferring paper checks, went into effect Oct. 28. To augment banks’ efforts to inform their customers about the changing check-processing environment, the Federal Reserve has published two new brochures.
Consumer Guide to Check 21 and Substitute Checks describes the law’s effects and explains how to resolve problems that might occur as a result of it. It also describes a substitute check, which is a paper copy of the front and back of the original check.
What You Should Know about Your Checks takes a broader look at the check-payment process and its evolution.
The brochures are available on the Federal Reserve Board of Governors’ Web site. Printed copies of the brochures are also available from Publications, Mail Stop 127, Federal Reserve Board, 20th and C Streets N.W., Washington, D.C. 20551, 202-452-3244.