do they keep it in a vault forever? incinerate it?
2006-10-13 06:53:12 · 3 answers · asked by red_head_13779 1 in Business & Finance ➔ Personal Finance
The US banking system now uses images of checks. All checks are processed at one of the Federal Reserve Banks. Federal law allows banks to submit images of checks for processing and storage. Unless one has an account that allows the user to receive the canceled checks, they are destroyed. Please review the articles linked below for additional information
2006-10-13 07:15:01 · answer #1 · answered by david42 5 · 0⤊ 0⤋
they keep the checks in a big folder case in some sort of small vault for a minimum of 10 years by law.
2006-10-13 06:57:41 · answer #2 · answered by Junior 3 · 0⤊ 0⤋
They ususally keep the checks for so long. Then after awhile, they put them on the computer in case you need a copy of one
2006-10-13 07:01:39 · answer #3 · answered by amysbuttabutta 3 · 0⤊ 0⤋