Warning - Checks Clearing Faster!

Forbes.com: Banks Implement Check 21 Starting Thursday

That's right - Check 21 is in effect.

"The Check Clearing for the 21st Century Act - better known as Check 21 - will allow financial institutions to exchange electronic images of consumers' checks rather than transporting the actual paper checks around by air, land and sea.

As a result, checks that consumers write are likely to clear faster than before, so there will be less "float" between the time a check is written and when funds are debited from the account."

So - if you're one of those people that writes checks on Wednesday thinking "oh, Friday's paycheck will be in my account before this check clears...." you may be in for some surprise bounced checks and bank fees! My sis-in-law's mom is a big-wig at a local bank, and indeed she has confirmed that this change is going into effect, and that everybody seems to be jumping onboard.