New Cheque Standards! Effective January 1st, 2007 What do you need to know? Canadian Payments Association.

Slides:

Advertisements

Similar presentations

New Cheque Standards! Effective July 1st, 2007 What do you need to know? Canadian Payments Association.

Advertisements

A business makes payments for what it buys, In return it receives payments for goods it sells or services it provides.

Checks & Payment Methods Ch PoB The First Deposit Starts with providing personal data and a sample of your signature Signature Card – document.

Cheques A cheque is a written instruction by the account holder, to the bank, to pay a stated sum of money to a named person or business.

OFFICE OF STUDENT & DEPARTMENTAL ACCOUNT SERVICES Department Transmittal Training.

Transportation Fringe Benefit Vouchers Presentation to the Federal ETC Advisory Committee April 26, 2011.

New Cheque Standards! Effective January 1st, 2007 What do you need to know?

New Cheque Standards! Effective January 1st, 2007 What do you need to know? Canadian Payments Association.

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

BANKING For your Green backs. U. S. Federal Mint  U.S. Federal Mint operating bureau of the Department of the Treasury makes new coins.  U.S. Bureau.

Chapter 9 Review. Parts of a Check 7 89 Date line Payee Numeric amount Written amount Memo Signature Check # Bank routing and account #’s.

Main New Question Answer Jeopardy Accounting Chapter 5 Jeopardy Accounting Chapter 5 Completion $100 $200 $300 $400 $500 Multiple Choice $100 $200 $300.

Teens 2 lesson six using banking services presentation slides 04/09.

Fraud Prevention Strategies at Georgia Tech

Writing a Check To pay for items using a checking account A check is given as a form of payment Must be completed and given to the person or business.

Teens lesson six banking services. compare checking accounts location branch offices; hours of operation; availability of ATMs fees monthly fees; per.

Teens lesson six banking services.

© 2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

The name you can BANK upon! 1 CHEQUE TRUNCATION – Business Opportunities K.S. Bajwa, General Manager –IT Punjab National Bank.

Emerging Trends in Banking Technology Prof. C. K. Sreedharan Unit No: 3.

Check 21 Changing How Banking is Done Today Presented by: Kimberly Feeney, Vice President Government Treasury Services Bank of America

Law Practice Management Class #8 Trust Accounting and Rules.

Teens lesson banking services presentation slides- from VISA 04/09.

Teens banking services 04/09.

Teens 04/09. Beware The High Cost Of Financial Services pawn shops charge very high interest for loans based on the value of tangible assets (such as.

. 1. Personal information about you, the account owner 2. Payee line. Who the check is payable to 3. The dollar box The amount of the check in numerical.

W-2 Solutions from MHC Software, Inc.

Check: A written order to a bank to pay the stated amount to the person or business (payee)named on the check. Canceled check: A check that bears the.

Consumer Math How to Write a Check.

Introducing Paperless Bill Management and Accounts Receivable Processing.

Checking Accounts Chapter 9. Basics Check: ▫Written order to bank to pay the amount stated to the person or business named on it. Demand deposit: ▫Money.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5-1 Checking Accounts.

Accounting – Chapter 5 Cash Control Systems.

2 steps ahead. Preventing Fraud! Key to prevent fraud is to always be ahead of the fraudster! This is best achieved by: –Making security features work.

1 Cheques and Bank Statements. Cheques Date Indicates the date the cheque can be cashed Post-dated cheques are written in advance Identification Numbers.

Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Checking Accounts 9.

CHECKS Markéta Maříková. What is a check? Check is one of the oldest payment instrument with which can be found even today. Is used in countries such.

© 2004 Quality Park/PrintXcel. 2 Why Sell Business Checks? » $1.5 Billion Market » No manufacturer or distributor has market dominance » Over 50% of BTB.

Checking Accounts and Other Banking Services Understanding and Managing.

Teens lesson six banking services presentation slides 04/09.

Cash Control and Banking Activities Making Accounting Relevant Businesses deposit all cash and checks into a bank account and make payments using checks.

Presenting Checks for Payment Created By: Laura Kinchen.

Negotiable Instruments  Negotiable means the quality of transferability by delivery or by endorsement and delivery.  Instrument means a written document.

Checking Accounts. Types of Checking Accounts  Regular Checking  Designed for people who write a few checks each month and do not keep a minimum amount.

1 Common Payment Services - EFT Electronic Funds Transfer (EFT) Banking method in which computers and electronic technology is used as a substitute for.

PARTS OF A PAYCHECK. Parts of a Check ■Check Number –Checks are numbered for easy identification ■ABA Number –The American Bankers Association (ABA) number.

Counterfeiting Aim: How are counterfeit bills detected? Do Now: Name any ways you know of to tell if a bill is real or fake.

The Big Picture Things to think about What different ways are there to collect information automatically? What are the advantages and disadvantages of.

Laser Cheques in Canada – Canadian Format Whether your business is located in the United States or Canada, if you print laser cheques using Canadian format.

Banking Services presentation slides. Compare Checking Accounts location branch offices; hours of operation; availability of ATMs fees monthly fees; per.

Document Security in the 21 st Century Amgraf User Group February 21, 2002.

Counterfeit Currency Detective AnDrea Scott City of LaGrange Police Department.

Banking Procedures Chapter 11, Section 1. Internal Controls steps business itself takes to protect cash and other assets ► Limit people who have access.

Teens 2 lesson six using banking services presentation slides 04/09.

Handling Checks Module 2.

Fraud Prevention Strategies at Georgia Tech

Bank Draft -Anish Prasai.

Teens lesson six banking services presentation slides 04/09.

Fraud Prevention.

using banking services

Protecting your business against fraud

Teens lesson six banking services presentation slides 04/09.

Check21 The Check Truncation Act of the 21st Century

Teens lesson six banking services presentation slides 04/09.

Teens 2 lesson six using banking services presentation slides 04/09.

using banking services

Teens lesson six banking services presentation slides 04/09.

Teens lesson six banking services presentation slides 03/08.

Teens lesson six banking services presentation slides 04/09.

Presentation transcript:

New Cheque Standards! Effective January 1st, 2007 What do you need to know? Canadian Payments Association

Why did the standards change? The cheque face and back will now be digitally scanned by the clearing houses Cheques will no longer be physically transferred between banks or returned to clients To allow for the scanning process, CPA mandated Areas of Interest must meet certain standards Pay To Information Field 2.Numeric Date Field 3.Amount Field - Written/Numerical 4.MICR Numbering - Consecutive/Static 5.Signature(s) 6.Backprinting 6

Whats Changed? No printing in 5/8 MICR band

Adoption of numeric date field July 15, 2007 = or or Whats Changed?

No printing in 5/8 MICR band Adoption of numeric date field A printed $ symbol must appear - (Pre-printed or software driven)

Whats Changed? No printing in 5/8 MICR band Adoption of numeric date field A printed $ symbol must appear - (Pre-printed or software driven) Mandatory MICR consecutive numbering

Whats Changed? No printing in 5/8 MICR band Adoption of numeric date field A printed $ symbol must appear - (Pre-printed or software driven) Mandatory MICR consecutive numbering Standardized positions for key information

Whats Changed? Security features not to interfere with Areas of Interest

Whats Changed? Security features not to interfere with Areas of Interest Standardized back print Teller Stamp Here BACK/ENDOS Endorsement - Signature or Stamp WARNING: Absence of one or more of the following Security Features may indicate alteration. Warning Band - Notifies document handlers that security features are present. Watermark - Distinctive pattern in the paper. Hold up to light source to view. Fibres - Visible only under black light Microline Printing - Tiny type in border that cant be read if scanned or copied. Attempts to chemically alter this document will activate a chemical reaction that appears as a stain in the paper. Paper has TonerFuse that bonds dry toner to the paper fibres making alteration by scraping or tape very difficult.

Whats Changed? Security features not to interfere with Areas of Interest Standardized back print Print contrast signal in Areas of Interest must meet acceptable levels of compliance

What do you need to do? Ensure your cheques comply with the new CPA standards We can help What is your Accounts Payable software? Quickbooks or Simply Accounting Other off the shelf software Custom software

Guaranteed Compliance Use our RDM Scanner to check print contrast signal compliance Same system/software used by the banks Ensures custom pantographs meet CPA standards Thank You