electronic check presentment (ECP)
Definition
Electronic transfer of check information to the paying bank. The Check Clearing for the 21st Century Act permits the use of electronic check presentment in order to speed up the check clearing process. Through this, a digital image of the check will be sent electronically instead of the actual check, which enables banks to save costs in check sending and storage.
Related Articles
- Difference between spot and futures in Forex *
- Figuring out the Best Car Type for You *
- The Warren Buffett Quality Stock Strategy *
- Sector ETF Rotation Strategies *
- Finding a Financial Advisor Means Looking Past the Neighborhood *
- Social Security and the Benefits Provided by It *
- Buying Stocks Using Growth Strategy *
- Borrowing Against a Life Insurance Policy *
Related Videos
http://www.businessdictionary.com/definition/electronic-check-presentment-ECP.html
