Eastern Savings Bank, fsb.

What is Check 21?

What happens if my check bounces?

Why was Check 21 enacted?

What if I do not want to receive substitute checks?

What happens to my original check?

Are there any fees involved with substitute checks?

Can I get my original check back?

What will I get in my Eastern Savings Bank statement?

How fast will my check clear my account?

How are errors handled?

Check 21 is a recently enacted federal law that allows for the creation of an electronic image to be used in place of an original check. During the check clearing process, any party handling your check may scan the check, convert it to an
electronic copy, and then send that electronic copy to the paying bank. This electronic copy is called a "substitute check.”

		What is Check 21?
		Check 21 is a recently enacted federal law that allows for the creation of an electronic image to be used in place of an original check. During the check clearing process, any party handling your check may scan the check, convert it to an electronic copy, and then send that electronic copy to the paying bank. This electronic copy is called a "substitute check.”

		Why was Check 21 enacted?
		Currently, checks must be physically transported to the paying bank to be cleared. This process is expensive and time-consuming. Checks were grounded during the aftermath of 9/11, which caused delays in check clearing. As a result, Congress determined that a better system of clearing checks was needed and enacted Check 21.

		What happens to my original check?
		Your original check is converted to a substitute check and is destroyed.

		Can I get my original check back?
		Your original check is destroyed by the converting party and cannot be returned. By law, you can use the substitute check provided the same way you would an original check.

		How fast will my check clear my account?
		Your check could clear the same day it is presented. Therefore, funds must be in your account when the check is negotiated.

		What happens if my check bounces?
		If you bounce a check, a non-sufficient funds fee of $25.00 will apply.

		What if I do not want to receive substitute checks?
		Unfortunately, Eastern Savings Bank cannot control whether or not another party involved in the clearing of your check decides to create a substitute check.

		Are there any fees involved with subsitute checks?
		There are no fees involved with Check 21 or substitute checks. Normal fees for non-sufficient funds or for a photocopy request of a check or statement will apply as they did before.

		What will I get in my Eastern Savings Bank statement?
		You may receive original checks and/or substitute checks in your checking account statement.

		How are errors handled?
		If you find there is an error with a substitute check, contact us at 1-800-787-7372 or visit your local branch. Refer to the error resolution procedure on your monthly statement.