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Servus Credit Union was one of the first financial institutions in Alberta to offer cheque imaging services to member-owners. Imaging technology enables you to view your cleared cheques online through Net Banking, decreases the bulkiness of your monthly statement and allows our staff to track cheques for you much faster.
In 2008, all financial institutions will switch to cheque imaging and as a result new cheque standards have been introduced.
Any cheques ordered from Servus Credit Union since November 1, 2005 are compliant with the new standards. Any older cheques, self-printed cheques or cheques ordered from another supplier may not be compliant.
To ensure compliance we encourage you to order your cheques through Servus Credit Union or check with your supplier. You may also consider ordering cheques in smaller quantities so fewer need to be replaced if a change is necessary.
We encourage you to replace your personal and/or business cheques sooner rather than later to avoid any processing delays. The Canadian Payments Association has provided a grace period for businesses of September 2, 2008. After this date business cheques that do not meet the new standards may not be processed.
A typical cheque which meets the new standards is shown here. The numeric date field is the most noticeable change from previous cheques. The date field can be in any of these configurations: yyyymmdd, mmddyyyy, or ddmmyyyy.
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