Check 21 Implementation

About the Legislation

On Oct. 28, 2004 the legislation known as Check 21, the Check Clearing for the 21st century act, went into effect. The key factor of this legislation is the entitlement of financial institutions to scan original checks into digital images and later reprint them as substitute checks. These “substitute” checks are labeled by the industry as Image Replacement Documents, or IRDs. A ANSI X9 standard for the two categories of IRDs, forward IRD and backward IRD, is in the midst of being created. The standard requires the documents to be able to print on both sides of the original check, and be MICR readable. The standard also provides a reserved area on the IRD for new security features created at the time of printing since all paper-based security features are lost during the scanning process.

About Printerm Solutions
The PRINTERM IRD Security Printers, include the features of duplexing capability for double sided printing, and are fully enabled for printing MICR documents. These printers are specially designed to meet the ANSI X9 standards. Printing three Forward IRDs per sheet, the PRINTERM MICR Printers will print up to 150 IRDs per minute. Every PRINTERM printer is fully prepared with MICR toner sensing, as well as the optimized PRINTERM E13B MICR font for superior check readability.

With no industry standards for security features, every financial institution will develop their own methodology to control risks. PRINTERM’s ideal approach is through catering to individuals needs by offering a range of printers, data and document security options. Some of the security solutions that PRINTERM offers include password protection, encryption, key locks and PRINTERM imaging security. PRINTERM offers in addition a wide variety of consulting and software development services. PRINTERM’s electronic payment consulting is created to aid the financial industry maximize ACH and Check Imaging Investments.
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