About: Substitute checks in the United States

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The substitute check (also called an Image Replacement Document or IRD) is a negotiable instrument that represents the digital reproduction of an original paper check. As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check as authorized by the Check Clearing for the 21st Century Act (also known as the Check 21 Act). Instead of presenting the original paper checks, financial institutions and payment processing centers transmit data from substitute checks electronically through either the settlement process, the United States Federal Reserve System, or by clearing the deposits based on private agreements between member financial institutions. Financial institutions that process substitute checks

Attributes	Values
rdfs:label	Substitute checks in the United States (en)
rdfs:comment	The substitute check (also called an Image Replacement Document or IRD) is a negotiable instrument that represents the digital reproduction of an original paper check. As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check as authorized by the Check Clearing for the 21st Century Act (also known as the Check 21 Act). Instead of presenting the original paper checks, financial institutions and payment processing centers transmit data from substitute checks electronically through either the settlement process, the United States Federal Reserve System, or by clearing the deposits based on private agreements between member financial institutions. Financial institutions that process substitute checks (en)
foaf:depiction
dcterms:subject	Cheques Banking in the United States Banking terms Negotiable instrument law Banking technology Federal Reserve System
Wikipage page ID	7580086 (xsd:integer)
Wikipage revision ID	1114335160 (xsd:integer)
Link from a Wikipage to another Wikipage	Cheques United States Department of the Treasury Deposit account Negotiable instrument Substitute check Cheque clearing Cheque truncation Money order Credit union ASC X9 American National Standards Institute Banking in the United States Banking terms Federal Reserve Board of Governors Bank Negotiable instrument law Check 21 Act Magnetic ink character recognition Banking technology Federal Reserve System Cheque Tagged Image File Format Remote deposit French check processing fee controversy of 2010 Uniform Commercial Code Warrant of payment Expedited Funds Availability Act Traveler's check Truncation (banking) dbr:Wikt:BOFD
Link from a Wikipage to an external page	https://web.archive.org/web/20081224211128/http:/www.x9.org/news/pr031028 https://www.eccho.org/wordpress/wp-content/uploads/WaystoUseCheck21.pdf https://www.federalreserve.gov/paymentsystems/regcc-faq-check21.htm https://www.ffiec.gov/exam/check21/Check21FoundationDoc.htm https://www.frbservices.org/assets/education/events/substitute-check.pdf https://www.eccho.org/uploads/CTA%20Standards%20Revision%20V2.pdf
sameAs	Substitute checks in the United States Substitute checks in the United States Substitute checks in the United States
dbp:wikiPageUsesTemplate	dbt:Further dbt:Good_article dbt:Multiple_image dbt:Nowrap_begin dbt:Nowrap_end dbt:Short_description
thumbnail	wiki-commons:Special:FilePath/Subcheck_FRONT.png?width=300
align	right (en)
caption	Front view of a substitute check (en) Rear view of a substitute check (en)
direction	vertical (en)
footer align	left/right/center (en)
header	(en) Image Replacement Document (en)
header align	left/right/center (en)
image	Subcheck BACK.png (en) Subcheck FRONT.png (en)
width	320 (xsd:integer)
has abstract	The substitute check (also called an Image Replacement Document or IRD) is a negotiable instrument that represents the digital reproduction of an original paper check. As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check as authorized by the Check Clearing for the 21st Century Act (also known as the Check 21 Act). Instead of presenting the original paper checks, financial institutions and payment processing centers transmit data from substitute checks electronically through either the settlement process, the United States Federal Reserve System, or by clearing the deposits based on private agreements between member financial institutions. Financial institutions that process substitute checks based on these private agreements are typically members of a clearinghouse that operate under the Uniform Commercial Code (UCC). A substitute check is recognized as a legal check as long as the instrument meets specific requirements. These requirements include the faithful reproduction of the paper check and warranty of the instrument by the "reconverting bank"—the financial institution that created the substitute check or the first financial institution that transferred or presented it during the check clearing process. Substitute checks are also subject to the UCC, existing federal and state check laws, and regulations specific to consumer rights that affect the acceptance of these instruments. Although a substitute check is subject to the UCC and existing state and federal check laws, the Check 21 Act takes precedence over these other laws and regulations for this instrument. (en)
prov:wasDerivedFrom	wikipedia-en:Substitute_checks_in_the_United_States?oldid=1114335160&ns=0
page length (characters) of wiki page	17506 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Substitute_checks_in_the_United_States
is Link from a Wikipage to another Wikipage of	Substitute check in United States Expedited Funds Availability Act
is Wikipage redirect of	Substitute check in United States
is foaf:primaryTopic of	wikipedia-en:Substitute_checks_in_the_United_States

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