TREASURY SERVICES

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A new way of processing checks became available October 28, 2004. The Check Clearing for the 21st Century Act (Check 21) is a new federal law that impacts all financial institutions, not just Wachovia.

The goal of Check 21 is to reduce paper, combat fraud and streamline how checks are processed. The traditional way of processing checks involves presenting paper checks, which can be time-consuming and expensive.  With Check 21, a bank can replace an original check with a substitute check that has the same legal standing as the paper check.   This will enable banks to move checks electronically and companies to deposit checks electronically.

The following information will explain more about Check 21, how it may impact you and how you might capitalize on it to speed funds availability.  This site will be updated periodically with new information as it becomes available.

Webinars

To enhance our customers knowledge of the Check 21 Act and its impact on their Treasury processes,
Wachovia conducted four webinars. Topics included the expected short and long-term impacts of the Act, including the role Check 21 will play in the overall movement of the payments system towards an image exchange environment. 

For an online recording of the webinars, follow these directions:

Click on the link provided or paste this address into your web-browser
URL: https://www.placeware.com/cc/wachovia/view?id=Check21-4&pw=GGK7HP

Alternate View Instructions:
   Go to:   https://www.placeware.com/cc/wachovia/view
   Your Name:   (enter your name) 
   Recording ID:   Check21-4
   Recording Password:   GGK7HP

Note: You must have a working sound card, media player (example: Windows Media Player or Real Player) and computer speakers to successfully access the replay.