Check 21 Reminder

[saint_monkey]

Just a reminder, the "Check 21 Act" goes into effect on Oct 28th. Just a month away. It allows anyone you write a check to, to turn that check into a digital transmission and bypass the whole 2 to 3 day hand-to-hand clearing system. So if you float checks, expect that not to work after the 28th of October. Good for banks, bad for the paycheck-to-paycheck working Joe. (At least in the short term ...) Just tryin to save y'all some fees here.

Here is the Federal Reserve's FAQ on the topic:
http://www.federalreserve.gov/paymentsystems/truncation/faqs.htm