A check can be retained at its place of deposit and only its image can be presented for payment under an electronic presentment agreement.

Question

Quizplus · Accepted Answer

This statement is true. Under an electronic presentment agreement, a check can be deposited and retained at its place of deposit while only an electronic image is presented for payment. This is known as remote deposit capture, which allows for convenient and streamlined banking processes.

A Check Can Be Retained at Its Place of Deposit