CHECK 21

To make check processing more efficient, a federal law commonly known as Check 21 was enacted in 2004 that permits banks to process checks electronically. A digital image of your original check is produced, and this image is routed through the check clearing system. A digital image of, or a printed copy of that digital image of the original check is called a substitute check and is considered a legal copy of your check. You may use a substitute check as proof of payment, just as you would the original check.



Whether you process 10 checks or 1,500,000 checks a month, ClearedFunds Check 21 will meet your needs.

​

By utilizing a desktop scanner and ClearedFund's imaging software program, you can prepare electronic deposits and send to any bank of your choice, all within minutes. Simply scan the checks through the imager and the Check 21 software will capture the pertinent information and will electronically send the money to the bank.

​

This will allow you to receive your funds faster and improve processing time and costs associated with manually processing checks. You save time and money.

​

 

Benefits of Processing Check 21 with ClearedFunds

​
Immediate increase in cash flow
A more efficient work environment...resulting in overhead cost savings.
Quick and easy settlement...saving you time which saves you money.
Increases and improves funds availability...you get your money faster.
Reduces and/or eliminates banking fees...saving you more money.
Reduced Fuel Costs...no more driving to the bank.