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Deals That Are Nifty by Sister Thrifty: Check Clearing Act

Deals That Are Nifty by Sister Thrifty

Great Steals and Deals around town and online to save you the big bucks and help you keep more of your hard-earned money!

Sunday, May 15, 2005

Check Clearing Act

Hey you!
So, did ya hear the one about the lady who claimed to find a finger in her Wendy's shake? Turns out it was a she was hoping would pay out
big for her in a major lawsuit against Wendy's. She's being charged with a
number of crimes and now Wendy's is trying to reclaim their customers who
were scared away by the scandal. Supposedly, if you walk into any Wendy's
around the country and ask for a free "Frosty" (their chocolate signature
shake) they'll give you one for FREE! Woohoo!
I wanted to let you know about the "Check Clearing for the 21st Century Act", a new law that revolutionizes the way banks process checks. Rather than routing checks back to the check writer's bank physically, it will be done electronically. The bank where the check is deposited will create a digital image of the check and transmit it electronically for payment.
The tragic events of September 11, 2001, were key in prompting the Act. Air traffic was halted for days, and as a result, those paper checks being transported via air didn't move. In the 21st century, transporting physical checks is not required when digital images and electronic clearing are possible. So, Check 21 was passed and slated to go into effect as of October 28, 2004.
The new law will affect consumers in that they will no longer be able to receive their original, cancelled paper check. Instead, a "substitute check"
will be provided by their financial institution. A substitute check will serve as valid proof of payment.
It's also important to note that checks will clear in a matter of hours, rather than days. This means that deposits will be credited to the recipient's account more quickly, but funds are also debited from the check writer's account faster, too. As always, be sure there are available funds in your account when you write a check.
Save 10% on your order when you enter promotion code TCTENEMALSAV at checkout.
Here's a great summer time freebie! If you have kids (and live near San Diego), go to and sign your little darlings up to be members of the KSWB Kids club. They'll receive a membership card (which doesn't really amount to anything meaningful), but you'll also receive a coupon for a free admission to Belmont Park AND a free kid's cone at Cold Stone!
That's it for today! Make it a great one!
Sister Thrifty


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