AirNet: Change or die?

[AirBill]

I read this story this morning, and immediately thought of AirNet. Has the company made any contingency plans when the teat of running checks runs dry?

Check 21 allows funds to clear electronically
By Tavia Evans
Of the Post-Dispatch
10/26/2004

Don't bank on writing a check before the money is in your account anymore.

A new federal law that goes into effect Thursday will decrease "float" time by changing the way checks are processed. The Check Clearing for the 21st Century Act, or Check 21 for short, will allow funds to be zapped electronically between banks. Over time, some checks may clear in just 1-2 days rather than the 2-5 business days it now takes to process them.

That's because electronic payments gradually will eliminate shipping checks around the country by airplanes, trucks and trains. The law legalizes a "picture" of the check in place of a canceled check. The original paper check is destroyed while an electronic image is kept on file in the bank's archives. Eventually, consumers will no longer receive canceled checks with their monthly bank statements.

Click here for the story

 

[jaybird]

it's time to leave the horse alone

 

[HAZ-MAT]

Wine in a box... i love it!

 

[Heavy Set]

Looks like a wine FREAK to me....

 

[starchkr]

Here is a little relief to those worried about this whole thing..

Last story i was told was that B of A has been trying to do this within their own banks for awhile to see if the system will work. They have done done nothing but fail at all attempts with there being too many problems and issues that make it impossible right now. So, if one bank cannot even do it between their own branches and keep things straight, do you really think they will be doing it bank to bank anytime soon. It is years off before we see a radical reduction in shipping...sure there may be a little reduction now, but nothing to lose sleep, or jobs, over.

Oh yeah, i think i know what i will be for halloween this year

 

[uscpilot]

Wine in a box... i love it!

Red wine always gives me a ... head...ache.
usc