We should move towards a replacement for the checking system that helps reduce the fraud associated with the existing system. This new system could include provisions for automatic payment relationships, electronic billing, and realtime transfer of funds between payer and payee. It would also be beneficial if the system adopted the International Bank Account Number (IBAN) standard to reduce errors in international payments.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
