What are cheque images?
Cheque images are electronic captures of your physical paper cheque. They are legally accepted true images and are replacing the physical cheques. Cheques are physical instruments to transfer funds between institutions. Replacing physical payer with electronic images has many security and improved service benefits. All Canadian Financial Instititions are working together on the path towards only clearing cheques electronically. For lots of information on this initiative, visit the Canadian Payment Association or you can review their document “Cheque Imaging in Canada – A Change Whose Time Has Come”.
