The new commitment, which came into effect in April 2007, shortens the maximum cheque hold period from 10 to seven business days. FCAC says banks have also agreed to further reduce this hold period to ...

Implementation of this new clearing process is targeted to begin in late 2006. In preparation for the shift, the CPA has issued a new version of the Canadian standard for cheque formats and printing.

Starting Feb. 3, payments over $25-million will have to be made through the electronic Large Value Transfer System, an existing high-tech clearing process that shifts money between financial ...

While in the United States, electronic cheque clearing has been around since 2004 and now according to the U.S. Federal Reserve almost all the 25 billion cheques deposited in the U.S. each year ...

The U.S. began clearing cheques electronically in 2004. According to the U.S. Federal Reserve, practically all of the 25 billion cheques deposited in the U.S. each year are now cleared electronically.

“Clearing a cheque is the process for moving funds from one financial institution to another, not for verifying the authenticity of the cheque. It is important for customers to know who they are ...

Canada’s move to start capturing and clearing cheques electronically next year may see corporate enterprises ending the process of physically transporting cheques from their commercial customers ...

Clearing of bank cheques is set to become faster. In its sixth bi-monthly monetary policy statement, the Reserve Bank of India (RBI) on Thursday said it would implement the Cheque Truncation ...

The future is clear for chequesSunday, September 26, 2004 Anyone depositing a cheque at a US bank today triggers a surprisingly efficient and cheap process whereby the cheques are cleared and money ...

It is proposed to reduce the clearing cycle by introducing continuous clearing with 'on-realisation-settlement’ in CTS. This means that cheques will be cleared within a few hours on the day of ...