Home > Consumer Protection > Consumer News & Information > FDIC Consumer News
FDIC Consumer News
Merchants Now Process Checks Electronically
Many stores will accept your check at the sales counter, scan it through a reader, hand the voided check back to you and then use the information from your check to arrange for an electronic fund transfer. A similar process may occur when you mail a check to pay a bill.
For information about what you need to know about this way of quickly processing your check, including your right to receive advance notice of an electronic fund transfer and how to resolve a problem, read the Federal Reserve's brochure When Is Your Check Not a Check? at www.federalreserve.gov/pubs/checkconv or the Federal Trade Commission's E-Checks (Electronic Check Conversion) at www.ftc.gov/bcp/conline/pubs/credit/echeck.htm.
|Last Updated firstname.lastname@example.org|