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Check 21

   Also found in: Wikipedia 0.02 sec.
Check 21

Shorthand for the Check Clearing for the 21st Century Act; legislation that allows faster processing of checks by financial institutions by allowing them to process images rather than physical pieces of paper. The law also allows the creation of substitute checks that are processed immediately.



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The Check 21 Act was enacted on October 28, 2003, and becomes effective on October 28, 2004.
VSoft's Check 21 solution will improve our branch operations and allow us to provide faster service to our business and regular bank customers.
Check 21 does not require banks to accept checks electronically, but it facilitates electronic transmission between banks by providing a way for banks that clear checks electronically to exchange information with those that do not.
 
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