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Are there any special considerations of which a bank should be aware when returning a substitute check?

April 26, 2017Bank considerations returning special

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Are there any special considerations of which a bank should be aware when returning a substitute check?

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Yes. Under the ANS X9.90 standard, if a bank is returning a substitute check and is creating a qualified return item, which usually requires the identification of that item with a ‘2’ in position 44, it will now be required to use a ‘5’ in position 44.