Official Checks Process and Regulations

Checks issued by a Credit Union, guaranteeing funds to the payee unless a stop payment is placed.

A request to prevent an official check from being cashed.

A check that has not been cashed within 90 calendar days.

An official check not cashed within 90 days, considered invalid after that timeframe.

A process to verify that checks payable to non-members don't violate US sanctions.

The first three official checks issued in a calendar month are free.

When a bank or credit union deducts money from your account, typically at the time of an official check disbursement.

A request to resend a check if it is lost or uncashed during the 90-day period.

Verify sufficient funds are available to cover the check.

Run an OFAC check to ensure they are not on a sanctions list.

Create a MARS case to document the request.

Add a comment to the MARS case detailing the OFAC results.

Debit the account in Symitar to cover the check amount.

To prevent an Official Check from being cashed if it is lost, stolen, destroyed, or mutilated.

Declaration of Loss (Exchange Items) form.

A replacement check can be issued if the member requests it.

A form used to report a lost or stolen official check, initiating the process for a replacement check.

An agreement where another party guarantees payment for a lost check, transferring the risk of non-payment to them.

A document confirming a check's deposit into a different account, often needed to prevent double payment.

The process of re-printing an official check if it's lost or uncashed within the 90-day period.

An online system used to manage official check reissuance, requiring specific steps to reset the check status.

The required status for an official check in OpCon Self Service before it can be reissued.

An email received after a check reissuance request, confirming the process has been initiated.

The minimum time a member must wait after an official check is issued before it can be reissued.

The process of re-issuing a lost or undelivered official check. This is not possible for checks older than 4 days or checks with a status other than 'Issued'.

A monthly review of official check stock to ensure accurate inventory and prevent misuse. This involves counting both the working supply and the vault supply.

The requirement for two employees to be present when opening newly arrived official check stock. This helps prevent fraud or loss.

Ensuring the authenticity of official checks. This can be done visually and through Symitar Check Manager.

Inspecting an official check for visual markers to determine its authenticity. However, visual verification alone is not sufficient.

A system for verifying the authenticity of official checks by recording and tracking all issued checks.

Protecting official check stock from loss, misuse, and fraud by following strict guidelines.

The current state of an official check, such as 'Issued', 'Uncashed', or 'Stopped'.

Includes the Credit Union name, address, toll-free number, website, a pre-printed "Pay" section, a security warning, and authorized signatures conforming to policy.

Features a disclosure section, a disclaimer, endorsement lines, security details inside a text box, and a pre-printed stock number.

A way to verify official checks in the Symitar system using Check Manager.

You can access Check Manager either from the Symitar home screen or from the Teller Transactions screen.

To access Check Manager from the Symitar home screen, click Navigate > Accounting > Check Manager.

To access Check Manager from the Teller Transactions screen, enter transaction code IC, press Enter/click Next, and repeat to select Check Control.

Features on the check designed to prevent fraud, like a security warning and details on the back.

Lines on the back of the check requiring the payee to sign their name to cash it.

The process of finding a check's information using its number in Check Manager.

Indicates the current state of a check, like 'Issued' or 'Escheated'.

When unclaimed funds are sent to the state as unclaimed property.

A unique identifier added to the check number, depending on the issuing department.

The process of issuing an official check for closed members who are owed funds.

Steps involved in handling official checks, from processing transactions to mailing them.

The system for managing the stock of paper checks ordered from a vendor.