Like everything electronic, substitute checks make things happen faster. This can be a good thing (by bringing fraud to your attention faster, for example) or a bad thing.
If you write checks before you have money in your account, you should expect checks to clear faster. You can’t take advantage of float time like you might have in the past, and you risk bounced checks and overdraft fees. Consider some type of overdraft protection (and budgeting program) if you bounce checks regularly.
Errors With Substitute Checks
Mistakes happen, and you should always keep an eye on your account. The good news is that you have additional rights if there’s an error related to a substitute check. If you properly dispute a transaction, the bank must investigate and credit your account within a certain time frame if their investigation will take too long.
As always, you need to review your statements regularly and notify the bank promptly of any errors.