Check processing machines? Yes, we have them. More importantly, though, what does CrossCheck do with them? Like the old adage about tools only being as good as the craftsmen who use them, CrossCheck leverages check processing machines to help merchants increase sales and mitigate risk while saving time and money. Check processing machines became a necessity after Congress passed the Check Clearing for the 21st Century Act (Check 21) in 2003 and it went into effect the following year. The vulnerabilities of the old system — including the overnight exchange of checks between financial institutions — became apparent in the days following Sep. 11, 2001 when all non-military aircraft were grounded for security reasons. As a result, Check 21 allows banks to process checks electronically, making for a more efficient and sustainable check-clearing system.
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