Why is the CPA changing the
Canadian cheque specifications?
The cheque specifications are a key part of an industry-wide
plan to modernize Canada’s cheque clearing system through image
technology. The specifications are designed to ensure that
high-quality images can be captured from the cheques for use by
financial institutions and their customers.
The cheque specifications are now in effect and printers and companies that print their own cheques are encouraged to adopt the changes as early as possible. All businesses ordering cheques at this point should ensure that they meet the specifications.
Where can I obtain precise
information on the standards?
The new version of Standard 006, Part A, available at
www.cdnpay.ca,
details the “image-friendly” cheque specifications. A summary
of changes is also available.
How can I confirm that my
cheques meet all of the specifications?
All cheques ordered through TD Canada Trust
(or directly from Davis & Henderson) after March 31, 2005 are in compliance
with the revised standards.
If your cheques are printed by another supplier or you print
your own cheques, your printer/software provider should be
aware of the revised standards and be able to offer cheques
that meet the requirements.
To ensure your cheques are in compliance, please contact your
Branch Manager or Relationship Manager to discuss testing your
next cheque order.
What is Transaction Code 45 or "Trans Code 45"
and what is its purpose on U.S. dollar cheques?
This code was introduced as part of the cheque standards and will
be used as an identifier for U.S. dollar domestic cheques drawn on Canadian financial
institutions. Using this code will help reduce or even eliminate U.S. dollar cheques
being cleared in the wrong currency.
