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| Congress passed a Law called, "Check 21". This Law will take full effect on October 28th, 2004...Some Creditors have said October 1st, 2004. What it means is that any Checks written will clear Banks faster, because Creditors now have a way to send it through for payment (By Law) to get thier money faster. GEICO already does this. Careful when writing those checks, People...Please make sure you have the funds before doing so. Some Creditors are changing to ACH (Automatic Clearing House)...For Example: Texaco/Shell, Capital One (already took place), and Sam's Club...Credit Card Accounts, to name a few. |
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