New CPA cheque specifications

There have been new cheque specification standards since January 2005. The Canadian Payments Association (CPA) has implemented these changes to improve cheque imaging and the cheque clearing processing.

The CPA has introduced a grace period for “old format” business cheques until Setpember 2, 2008. This will help business customers to make a smooth transition to the new standards while allowing them to use up their existing supply of cheques and to make any required changes to software.  All businesses ordering new cheques should ensure that they meet the new specifications.

The changes in specifications also apply to personal cheques.  Similarly, consumers can continue to use their “old format” cheques until they need to be re-ordered, provided that a good image can be captured from them.

Please visit CPA website at http://www.cdnpay.ca/home/home.asp for further information.