Check Collection Process
0.00 22 minutes Uses animation and live action photography to investigate the check collection procedures of the American banking system. Examines in sequential order the stages in processing a check from the time of deposit until marked canceled "paid". Shows the operations of the depository bank and examines the means of check collection from the banks on which checks are drawn. Explains the functions of the clearing house, correspondent banks, and the Federal Reserve System and shows the operations of the payor bank. Indicates the financial motives of the banks, the importance of efficiency in freeing bank funds for investment, and exceptions to usual routine such as large checks and return items.
