August 2011

July 2011

April 2011

February 2011

December 2010

November 2010

October 2010

July 2010

June 2010

May 2010

April 2010

March 2010

 [ + ]   More Archives

Image Downloads

»  September 2011 (pptx)
»  August 2011 (pptx)
»  July 2011 (pptx)
»  May 2011 (pptx)
»  April 2011 (pptx)
»  February 2011 (pptx)
»  December 2010 (ppt)
»  November 2010 (ppt)
»  October 2010 (ppt)
»  July 2010 (ppt)
»  June 2010 (ppt)
»  May 2010 (ppt)
»  April 2010 (ppt)
»  March 2010 (ppt)

 [ + ]   More Downloads

Industry Adoption Updates

Find the most recent Check 21 statistics here, as well as videos and business cases. Don't forget to check in regularly as new statistics will be reported on a monthly basis.

• Industry Statistics and Key Messages
  
  
• Creating Substitute Checks under Check 21 - Economic Framework (pdf)
  Determine if creating substitute checks is right for your institution using guidelines to analyze your business case.
  
  
• Image-based Check Clearing: A Key to Your Competitive Payments Strategy (pdf)
  
  
• Check 21 Implementation Video
  View this helpful video for an overview of the Check 21 Act, its major provisions and minimum requirements to participate in receiving check images. (wmv)
  
  

---

Key Messages:

• This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, The Clearing House and local / regional exchanges. Effective January 2011, we are able to include direct exchanges between banks as well as on-us image volumes.
  
  
• Implementation of check image exchange for check collections is almost completed across the industry and the implementation of check image exchange for returns is rapidly approaching full implementation and stabilization of volume growth has begun.
  
  
• Institutions are receiving electronic delivery of their unpaid image returns. On an average day in September 2011, over 251,000 items were received as unpaid image returns. When the September volume is annualized, it totals 63.4 million for $65 billion. The average unpaid image return was $1,024.
  
  
• More than 24,350 routing transit numbers are available to receive check images and over 11,200 are available to receive returns.
  
  
• The monthly volume of substitute checks peaked in the month of October 2007 and then declined by 99% as of September 2011 to 2.7 million.
  
  
• On an average day during September 2011, over 58 million check images were received for posting. When the September volume is annualized, it totals 14.8 billion for $19.5 trillion. Also, another 117 thousand checks per day were sent as images and delivered to paying institutions as substitute checks. The annualized volume of substitute checks received in September totaled only 29.8 million checks for $34.9 billion.
  
  

Data Sources for all Statistics:
Transaction settled through the Federal Reserve, NCHA and SVPCO with no duplicate counting.

back to top