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What are image statements? |
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Image statements are pictures of cancelled checks. Statements are printed 12 images per sheet.
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Are image statements acceptable proof of payment? |
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Yes. The IRS considers it acceptable proof of payment as long as the statement shows the check number, the amount of check, and the payee name. Your image statement will include all of this information.
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Does this mean I will no longer receive my checks back? |
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Actually you are still getting your checks back. The checks are in a different format, one that is easier to manage, and you are getting them in check number order making it easier to reconcile your account.
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Will the image statement show the back of the check? |
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Your statement will include only the front of your checks. If you need a copy of the back, you may request it from any location. We can also mail or fax copies to your home or office.
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What if I lose my check image statement? |
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The bank will keep archives of your image statements indefinitely and available for retrieval.
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What happens to the cancelled checks? |
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Actual checks will be kept for a limited time then destroyed.
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Will this new service cost me more in service charges? |
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No, we are not charging any fees for this service. Actually, imaging will lessen future increases in service charges.
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Will I need to get new checks because of image statements? |
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No. Most checks provide a quality image.
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Equal Housing Lender
