Your checks may clear the same day - WALB.com, South Georgia News, Weather, Sports

Your checks may clear the same day

October 29, 2004

Albany - For all those who rely on their checks clearing a few days after they're written, a change in habits may be ahead.

A federal law called Check 21 is now in effect.

Banks will start using imaging machines so they can electronically send an image of your check to the Federal Reserve, instead of by truck.

If your bank is equipped with this machinery, a check could potentially clear the same business day.

You will then get a legal copy of your check with your monthly statement instead of the original.

Banks believe this system will reduce fraud, because they can track fraudulent activity quicker.

posted at 4:49PM by kathryn.simmons@walb.com

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • The Latest: Irma weakens into a tropical depression

    The Latest: Irma weakens into a tropical depression

    Monday, September 11 2017 3:27 AM EDT2017-09-11 07:27:29 GMT
    Tuesday, September 12 2017 2:42 AM EDT2017-09-12 06:42:09 GMT
    Irma weakened to a Category 1 storm as the massive hurricane zeroed in on the Tampa Bay region early Monday after hammering much of Florida with roof-ripping winds, gushing floodwaters and widespread power outages.More >>
    Irma weakened to a Category 1 storm as the massive hurricane zeroed in on the Tampa Bay region early Monday after hammering much of Florida with roof-ripping winds, gushing floodwaters and widespread power outages.More >>
  • Was Albany ready for Irma?

    Was Albany ready for Irma?

    Wednesday, September 20 2017 2:19 PM EDT2017-09-20 18:19:38 GMT

    Dougherty County residents earned high praise for their preparedness from the area's Emergency Management Agency Director, before and during Tropical Storm Irma.

    More >>

    Dougherty County residents earned high praise for their preparedness from the area's Emergency Management Agency Director, before and during Tropical Storm Irma.

    More >>
  • Albany leader has a personal stake in SWGA diabetes education

    Albany leader has a personal stake in SWGA diabetes education

    Wednesday, September 20 2017 2:16 PM EDT2017-09-20 18:16:24 GMT

    Commissioner Jon Howard said some of the highest diabetes rates in the city are found in his ward, and he is hosting a diabetes town hall meeting.

    More >>

    Commissioner Jon Howard said some of the highest diabetes rates in the city are found in his ward, and he is hosting a diabetes town hall meeting.

    More >>
Powered by Frankly