How many times can a check image be redeposited? Under what regulation is this information?
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The emerging area of check image exchange is governed by a combination of agreements and regulations, and can be affected by what route an image might take. For example, if an image is to be processed through the Federal Reserve System, the Fed's Operating Circular No. 3 states that it won't accept as a cash item any item (including an image) that's been dishonored by the drawee bank two or more times. If an image won't be handled by the Fed, there may be image exchange or clearinghouse agreements that determine how many lives a check image might have.
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The emerging area of check image exchange is governed by a combination of agreements and regulations, and can be affected by what route an image might take. For example, if an image is to be processed through the Federal Reserve System, the Fed's Operating Circular No. 3 states that it won't accept as a cash item any item (including an image) that's been dishonored by the drawee bank two or more times. If an image won't be handled by the Fed, there may be image exchange or clearinghouse agreements that determine how many lives a check image might have.
