INTERNATIONAL

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As one of the world’s leaders in check and image processing, Wachovia is in the process of planning for the impact of Check 21 on our business, as well as that of our customers.  We have prepared this page to make sure you are aware of changes that will result from Check 21 legislation. If you have additional questions, please contact your local representative.

As a bank outside of the U.S., what do I need to be doing?

General Preparation:

• You need to be prepared to accept substitute checks for returns on cash letter, collections and disbursements.
• Start educating your bank office personnel regarding the new “USD substitute check.”
• Inform your customers before accepting their USD deposits that if a check is returned, there is a possibility that the original will not be available.

Determine your interest in image involvement:

• Review the costs, risks and responsibilities.
• Determine if bi-tri lateral legal arrangements are necessary.
• Determine if outsourcing to a vendor is appropriate.

What does the new substitute check look like?

View Substitute Check

What does a substitute check return look like?

View Substitute Check Return

What other resource information can I refer to for more information on Check 21?

• Check 21 Resource Document Prepared by Wachovia Corporation (GFI Guide to Check21) 
• ABA's Check 21 Resource Center
• BAI's Check 21 Resource Center
• AFP's Position on Check 21
• ECCHO: The Electronic Check Clearing House Organization (also view FAQs under "Implementation Aids")
• The Federal Reserve Board