What will happen if some cheques do not fully comply with the new specifications?
Given the lengthy transition period provided since the new cheque specifications were published in January 2005, all businesses should have complied with Standard 006 by September 2, 2008. However, financial institutions (FIs) recognize that some “old-format” cheques will remain in circulation beyond that deadline, and they will continue to process those items until further notice to avoid potential disruption to customers. Adopting the cheque specifications is particularly important for business cheques because these represent Canada’s largest volumes, and until now there have been significant variations in the formats businesses use. The specifications support the capture of high-quality images for a range of purposes, including delivery to customers and FIs’ internal uses, as well as other processing improvements. Businesses that have not yet completed the modifications to their cheques are encouraged to do so as soon as possible to avoid potential issues as FIs introduce new image-
