Check Clearing for the 21st Century Act

  The Check Clearing for the 21st Century Act (Check 21) was signed into law on October 28, 2003, and will become effective on October 28, 2004. Check 21 is designed to foster innovation in the payments system and to enhance its efficiency by reducing some of the legal impediments to check truncation. The law facilitates check truncation by creating a new negotiable instrument called a substitute check, which would permit banks to truncate original checks, to process check information electronically, and to deliver substitute checks to banks that want to continue receiving paper checks. A substitute check would be the legal equivalent of the original check and would include all the information contained on the original check. The law does not require banks to accept checks in electronic form nor does it require banks to use the new authority granted by the act to create substitute checks.
Check Clearing for the 21st Century Act (Check 21); PL 108-100, enacted October 28, 2003
Proposed Rule to Implement the Check Clearing for the 21st Century Act
Report of the House Committee on Financial Services

Check 21 Legislation

Equipment you need to meet the Check 21 requirement

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