- #24 security paper
- Acts as as replacement of an original checks
- Substitute checks can be transmitted electronically-regular checks cant
What is a substitute check?
- It is a specially formatted paper copy of the electronic image of an
original check used by banks and considered a legally valid form of payment
- It must have the front and back image and MICR information of original check
- The base stock paper and other specifications (perforations, check size)
must be within in the industry standards for regular checks.
- Substitute checks are allow known as Image Replacement Documents. (IRD)