Regional Check Processing Center(redirected from Regional Check Processing Centers)
Regional Check Processing Center (RCPC)
A Federal Reserve check processing operation that clears checks drawn on depository institutions located within a specified area. RCPCs expedite collection and settlement of checks within the area on an overnight basis.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Regional Check Processing Center
A center run by a Federal Reserve Bank that expedites the settlement of checks. A regional check processing center processes and delivers checks to the appropriate bank on the same day it receives them, which helps money move through the economy more smoothly. A regional check processing center handles corporate checks, personal checks, food stamps, money orders, and checks drawn on the U.S. Treasury.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved