Check 21 definition

Check 21 means the Check Clearing for the 21st Century Act.

Check 21 means the Check Clearing for the 21st Century Act, as well as Subpart D of Federal Reserve Board Regulation CC, and to the extent applicable, Subpart A.

Check 21. The Check Clearing for the 21st Century Act, 12 U.S.C. 5001 et. seq., and the implementing Check 21 regulations located in Subpart D to Federal Reserve Board Regulation CC, 12 C.F.R. 229 et. seq., and other applicable provisions of Regulation CC.

Examples of Check 21 in a sentence

• We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act.

• If you send us Images that are incomplete, that fail to satisfy our image quality requirements, or otherwise do not allow us to meet the requirements of Check 21 or any image exchange agreement that would cover our further electronic transmission of Images that you send us, or we are otherwise unable to process Images that you send us, we may charge the Images back to your account.

• Notwithstanding the foregoing, the time period for notifying us or making a claim under the Check 21 Act, with respect to a substitute check or an image of a substitute check that is sent with a statement or that appears on a statement, will be as set forth in the Check 21 Act.

• Payments will be processed and collected from the Customer as a Check 21 item (no fee to Customer).

• We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act.Unless specifically stated in a separate agreement between you and us, we do not have to accept any other electronic or paper image of an original check.

More Definitions of Check 21

Check 21 refers to the Check Clearing Act of the 21st Century. It may also be used to describe a specific file type (usually preceded by the reference: X9) approved by the Federal Reserve whereby the intent of the act may be achieved. Financial institutions sometimes refer to this type of check transaction as: “Check 21” or “X9.37” or “Image Cash Letters” or “Paper Based (electronic) Transactions”.

Check 21. The Check for the 21st Century (Check 21) Act and all regulations pertaining to the Check 21 Act.

Check 21 means the Check Clearing for the 21st Century Act, which may be amended from time to time.

Check 21 means FRB Reg. CC, Subpart D, promulgated to implement the provisions of the Check Clearing for the 21st Century Act.

Check 21. Check Truncation Act for the 21st Century. This is the legislation signed into law on October 29, 2003 that defines a Substitute Check (SC) as legal tender in place of an original check.

Check 21 means the Check Clearing for the 21st Century Act. “Image” means the electronic image of the front and back of an Item, in addition to other required information, as specified by us, in the format we specify. “Image Replacement Document” or “IRD” means a substitute check, as defined in Check 21. An “Item” is an original: check, cashier’s check, official check,

Check 21 means The Check Clearing for the 21st Century Act (or Check 21 Act). The law allows the recipient of a paper check to create a digital version, thereby eliminating the need for further handling of the physical document.