Asked by Tiffany Mootoo on Oct 01, 2024
Banks must retain the legible copy of check for a period of:
A) seven months.
B) thirty days.
C) seven years.
D) thirty weeks.
Legible Copy
A copy of a document that is clear enough to be read easily and accurately.
Seven Years
Seven years is a time period of seven consecutive years, often referred to in various legal, financial, and personal contexts.
Thirty Days
A period of time consisting of 30 consecutive days.
- Understand the procedures and legality of check conversion and truncation in electronic banking.
Learning Objectives
- Understand the procedures and legality of check conversion and truncation in electronic banking.