Updates In Check Panama Processing

Check panamaThe Superintendency of Banks Organization strives to improve the safety and efficiency of check Panama payments. The changes will effect the banks in Panama and reduce the time to clear a check from three days to just one.

The regulations  involve printers that produce the checks, check paper, check format, design, security features.  With a new method of check processing, the  physical checks will disappear as soon as they are accepted by banks. They will be converted into a digital image for further processing. It is expected that the system will be fully standardized in 2016.”

 

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