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Show Banks Eye No Return Check Accounts America's love affair with paper check shows no signs of cm ' off. ""H In 1978 alone, the nation's bam returned over 32 billion check to th customers. By 1985, estimates savil" number of cancelled check retur annually by banks will increase billion, or almost 88 percent n! than in 1978. mor( Such massive increases in usage can only mean similar creases in the cost of processine mailing the checks. To combat ft rising costs, the banking industry seriously looking into check to cation programs, or the non-return checks to bank customers. This means that instead of send each customer a bank statemew along with his cancelled check banks . with truncation program would only send the statement. What happens to the checks? Chuck Canfield, president! the Utah Bankers Association 1 plains: "For a bank to try and store'"' all of its customers' cancelled check 1 would only create the Sam I processing headaches that truncal ' programs were designed to eliminate, "Instead," Canfield continues "checks can be recorded on microfiche or microfilm. Then, when a customer needs access to a par. ticular cancelled check, a photocopy of it can be easily acquired." While check truncation has yet tobe instituted at any of Utah's banks Canfield says the idea has been discussed within the local banking community. "I even think over tie next couple of years we'll see several local banks initiate non-returr checking programs," he adds. Canfield is also quick to point out V that truncation will not only be easier V and more economical for banks , fc will also be a convenience lo-customers. lo-customers. ", V |