What is a generic term for the various banking systems designed to reduce the need to send or physically?

Posted on September 15th, 2009 by admin

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Banking


handle checks for customers’ accounts?
a. truncation
b.altered chack
c. cash letter
d. sweep

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Filed under: Other - Business & Finance

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4 Responses to “What is a generic term for the various banking systems designed to reduce the need to send or physically?”

  1. Jose A. G, on September 17th, 2009 at 2:33 am Said:

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    are you talking about check 21 or on line transfers please clear up your question

  2. Book O, on September 18th, 2009 at 1:46 am Said:

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    truncation sounds right for some reason…

  3. Rich B, on September 18th, 2009 at 10:36 pm Said:

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    Truncation. When banks truncate checks they do not have to send the physical checks back to the customer.

  4. drumfly08, on September 22nd, 2009 at 9:50 am Said:

    Truncation

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