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#1350636 - 03/01/10 08:08 PM Substitute check/check 21 disclosure
transplant Offline
Junior Member
Joined: Sep 2007
Posts: 36
Does a disclosure about substitute checks/check 21 have to be given at account opening for new accounts?

Thanks!

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Deposits and Payments
#1350719 - 03/01/10 09:24 PM Re: Substitute check/check 21 disclosure transplant
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Yes, if the bank sends back actual paid checks as enclosures with periodic statements. No, if the customer will receive no paid checks or only images of paid checks. See Regulation CC, section 229.57, for more information.
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John S. Burnett
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#1350797 - 03/01/10 10:19 PM Re: Substitute check/check 21 disclosure John Burnett
transplant Offline
Junior Member
Joined: Sep 2007
Posts: 36
Okay, thanks! That's what I thought, but I wasn't sure.

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