May 2010

April 2010

March 2010

December 2009

October 2009

September 2009

August 2009

June 2009

March 2009

February 2009

 [ + ]   More Archives

Image Downloads

»  June 2010 (ppt)
»  May 2010 (ppt)
»  April 2010 (ppt)
»  March 2010 (ppt)
»  December 2009 (ppt)
»  October 2009 (ppt)
»  September 2009 (ppt)
»  August 2009 (ppt)
»  June 2009 (ppt)
»  March 2009 (ppt)
»  February 2009 (ppt)

 [ + ]   More Downloads

Industry Statistics — December 2008

Key Messages:

• Paper checks are being transitioned to electronic images of checks at a pace that is unprecedented. Check images are currently collected in two forms, as substitute checks and as check images.
  
  
• Substitute checks assist in evolving traditional paper check clearing to image-based clearing. As a precursor to full check image exchange, the number of substitute checks is a positive indication of the acceptance of image exchange.
  
  
• On an average day during December 2008, 13,053 institutions received almost 49 million check images for posting. These total 12.3 billion checks per year and $14.6 trillion. Also, another 11.7 million checks per day that were sent as images and delivered to paying institutions as substitute checks. These totaled 2.9 billion checks per year and $3.3 trillion.
  
  
• This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe (formerly PaymentsNation), SVPCO and local / regional exchanges. When the same payments were cleared through two or more of these organizations, those payments were counted only once.
  
  
• The 2007 Federal Reserve’s Payments Study shows that the volume of checks (both written and paid) continue to be larger than debit card, credit card or ACH transactions. The report also shows that the dollar amount of checks increased from 2003 to 2006 from $40 to $41.7 trillion.

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

back to top