Time for your New Cheques

The new cheque specifications are a key part of an industry-wide plan to modernize Canada’s cheque clearing system through image technology. To make the process faster and more convenient, The Canadian Payments Association (CPA) has announced that all cheques must conform to new specifications by June 2007. Cancelled paper cheques will be replaced with a new generation of image-based services.

The benefit of the new cheque format is that it will help to modernize Canada’s cheque clearing system. The new format makes cheques more image-friendly so that financial institutions will be able to exchange data electronically instead of physically having to move cheques.

Changes made:
• The format of the date line has changed
• New cheques must be filled out using black or blue ink
• Your account number will now appear in the new white strip at the bottom of the cheque

If you ordered cheques from Davis & Henderson after April 2005, your cheques already meet the new standard. If not, you will need to re-order cheques before June 30, 2007. Be aware that without these modifications, other financial institutions may not process your cheques. And please remember to destroy your old cheques once you receive your new ones.

We will make every effort to assist you to ensure that you are ready for the June 30, 2007 deadline. If you have any questions visit us or give us a call.