Paper Check Clearing Services

The Federal Reserve Bank’s Paper Check Clearing Services allow financial institutions to deposit both paper forward and paper return check items.

Forward Paper Check Clearing Services

Forward Paper Check Clearing Services provide financial institutions with products that enable you to deposit forward checks for collection in paper form using various mixed deposit options. The Federal Reserve Banks offer item processing, settlement and adjustments services to help manage your check clearing needs.

Mixed Cash Letters with or without Carriers

You can minimize the amount of sorting done by your institution. You can mix all forward items (City, RCPC, Country, Other Fed, Treasury Checks, Postal Money Orders or eligible Savings Bonds) in a single cash letter for credit.

Return Paper Check Clearing Service

The Return Paper Check Clearing Service enables you to return checks that are unpaid for a variety of reasons, including insufficient funds or closed account. The Federal Reserve Banks send the return checks to the bank of first deposit (BOFD), or to a designated correspondent bank or processor which have been designated by the BOFD.

For more information about this service, visit the Paper Check Clearing Service setup page or contact your account executive.