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Electronic Check Conversion

The next time you write a check to your lo¬cal merchant, the cashier may hand it back to you after it's been processed — electronically. Or maybe you're mailing a check as payment to a company. That payment, too, may be processed electronically. Why? More merchants and compa¬nies are using electronic check conversion, which converts information from your paper check into an electronic payment from your bank account. In fact, NACHA — the Electronic Payments As¬sociation — estimates that more than 738 million paper checks were converted through in-store and mail-in transactions through the first nine months of 2004. Find out how electronic check conversion works in this informative newsletter.

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