What are Electronic Checks?

You write a check at the store, and the cashier runs it through a machine and hands it back to you. What just happened?

You may assume that the piece of paper you write on will be deposited at a bank and processed manually. Electronic check conversion makes that process less and less likely. Instead of processing the piece of paper, some businesses prefer to turn your paper check into an electronic check.

Find out how electronic checks work and what they mean for your banking habits.

Further reading:

• 8 Reasons to Never Write Checks
• How the Check 21 Law Makes Checks Clear Faster