Check 21: Launching the banking industry into the 21st century
Good news for The Mechanics Bank Customers:
We're already there!
Check 21: A New Federal Law
The Check Clearing Act for the 21st Century (Check 21) takes effect on October 28, 2004, and is designed to improve check collection by automating procedures.
What does that mean for you?
- Because The Mechanics Bank successfully introduced state-of-the-art check imaging in 2002, you will not see any changes to your monthly statements or to the images of your cancelled checks after the implementation of Check 21.
- Due to the improved check clearing procedures, however, your checks will clear faster, so be sure that you have sufficient funds in your account at all times.
- If a check you deposit is returned unpaid, The Mechanics Bank will furnish you with a "substitute check" if we do not receive the original check. At that time, you will receive further information about your rights as they relate to substitute checks.
Got questions? We are here to help.
Please contact your local Mechanics Bank office or call our Customer Service at 1-800-797-6324 for further information.
You can also read the following document provided to us by the American Bankers Association:
Checks are changing - Consumers and check 21
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