Check 21 Cash Letter™
Electronic Cash Letter
The Check 21 Cash Letter module enables incoming and outgoing check images to be seamlessly imported and exported.
Clear Check Images Rather than Paper Checks
ProfitStars® provides a suite of solutions that supports compliance with Check 21 and enables financial institutions (FIs) to leverage the cost benefits and operational improvements inherent in check image clearing.
The Check 21 Cash Letter module is required for FIs to participate in Check 21 with the Federal Reserve Board.
Check 21 is ProfitStars’ turnkey solution for fully automated and managed check image exchange and settlement. Check 21 Cash Letter accepts incoming checks in an established exchange format with the Federal Reserve Board, and automatically converts them into a format that is compatible with the ImageCenter™ check imaging platform.
What It Does
- Operates as the primary component of ProfitStars’ Check 21 Image Exchange Network or other image exchange networks that fully automate and manage check image exchange and settlement.
- Imports incoming checks from the Federal Reserve Board, and automatically converts them into a format that is compatible with ImageCenter.
- Produces and exports outgoing check images to the Federal Reserve Board.
- Supports third-party check imaging and core processing solutions, provided these systems support industry-standard image formats such as X9.37 and are certified by ProfitStars.
What It Does For Me
- Leverages the cost benefits and operational improvements inherent in Check 21-enabled check image clearing.
- Provides seamless and cost effective presentment of items for settlement.