the customer's checks are kept on record at the bank and the canceled checks are not returned to the customer.
When a checkwriter’s financial institution retains copies of posted checks rather than returning items to the checkwriter. Many financial institutions (30-40% by most accounts) safekeep checks for customers, including digitized images of cleared checks in monthly account statements in lieu of returning the actual paper. Customers can receive copies of the original copy if needed for dispute resolution, or other purposes; these copies are excepted in lieu of originals for most dispute resolution purposes.
The customer's financial institution keeps the customer's checks, not returning it in the customer's statement. The customer may receive an image of the check in the statement.
A service that authorizes a bank to keep copies of canceled checks instead of returning them with a statement. Photocopies of the checks are available upon request.
The process of digitizing customer's paid checks. The digital image becomes the official record of the transaction and is kept by the financial institution. Canceled checks are stored electronically rather than being returned to the customer.
The process of microfilming customers' paid checks. The microfilm is the official record of the transaction and is retained by the financial institution. Canceled checks are stored rather than being returned to the customer.