What is a Substitute Check or “Image Replacement Document” (IRD)?
The substitute check is expected to be the first step in electronification of check processing. A substitute check is defined as “a paper reproduction of the original check that contains an image of the front and back of the original check; bears a MICR line containing all of the information in the MICR line of the original check, except as provided under generally applicable industry standards for substitute checks to facilitate the processing of substitute checks; conforms in paper stock, dimension and otherwise is suitable for automated processing in the same manner as the original check”.
