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

• Under the Check 21 Regulations, any check you write or deposit need no longer be returned for payment by the bank of the person to whom you wrote the check.

• This provision applies even if the item has been converted into an electronic item under Check 21 or other applicable law and this fee can be charged multiple times if the original item is presented for payment and each additional time that any item or transaction is presented to the account for payment, and you agree that the bank can charge an NSF fee each time there are insufficient funds in the account each time that the item is being presented for payment.

• You understand we will process only your Electronic Images that comply with the Standards and are Sufficient Image Copies, and we will use commercially reasonable efforts to present these Sufficient Image Copies for collection under the Check 21 framework.

• We may refuse to accept any check other than: (i) standard checks provided by us or approved by us in advance; or (ii) Substitute Checks conforming to the standards of the Check 21 Act and the regulations promulgated thereunder (the “Check 21 Regulations”) that were created from images of original standard checks provided by us.

• To inform you of your rights, we wanted to provide you with the following disclosure entitled “Substitute Checks and Your Rights.” If you have any questions about this, — or anything else relating to Check 21, — please give us a call at 000-000-0000.

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.