In the coming months, members may see their checks starting to clear faster. That’s because PSECU will be implementing the Check 21 Act. The Act changed the way checks are processed through the banking system. PSECU will be transmitting images of the checks instead of sending physical checks. Because of this change, checks could be cleared in hours instead of days. As always, be sure you have enough money available when you write checks.
Other than checks clearing faster, members won’t see any other changes to the way they conduct business with PSECU. Need a physical copy of your check? You will still be able to print it from psecu@home® or we can mail it to you. (You can print checks for free in psecu@home. For cleared/cancelled checks we send to you, we charge $1 per copy.)
The new processing method will have two additional positives that may not be apparent. We’ll eliminate the expense and security risk of shipping checks to various processing centers.