So long to canceled checks


From Consumer Reports August 2004 issue…

So long to canceled checks

Get ready for an October surprise from your bank. Starting late that month, as a result of a new federal law, your account statement will come with fewer–or perhaps none–of your canceled paper checks, even if you want them. You’ll also enjoy less “float”–that time between the day you write a check and the day the money is removed from your account. And you’d better be fast if you hope to stop payment on a check. However, you will gain the right to quick correction of clerical mistakes. Here’s a rundown of the changes.
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