Dictionary of Banking Terms: substitute check
substitute check
paper reproduction of a check and the legal equivalent, suitable for automated processing in the same manner as original checks. A scanned image of the front and back plus the check's Magnetic Ink Character Recognition (MICR) line identifying the issuing bank and account holder is printed on special paper stock. Substitute checks were authorized by the Check Clearing for the 21st Century Act to make check clearing more efficient and reduce check float.
