As Check 21 approaches its first birthday,Treasury & Risk and Wells Fargo surveyed T&RM readers for the second year in a row about the effects of the legislation. The responses suggest Check 21, which allows companies to substitute an electronic image of check for the original paper check, is still in its infancy as a force in cash management. Eighty percent of the executives say Check 21 has had little or no impact on their business. Just 16% say their companies are using remote deposit, the new product most closely identified with the legislation; 39% of the remaining companies say they plan to adopt it in the next year. The question seems to be whether Check 21 is still filtering down to the masses or already being overtaken by more sophisticated payment technology. T&RM and Wells Fargo surveyed 321 financial executives between July 27 and August 8 2005.
|Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
