Regulation E: Electronic Check Conversion

Regulation E: Electronic Check Conversion is an elearning course that defines what ECKs are, and how they’re covered under Regulation E. It wasn’t long ago that when a person wrote a personal check, the recipient deposited the check and the check was processed manually. The process could take days to complete, which meant the deposit had to wait for the funds to clear. Today, new technology has eliminated much of the delay by turning a paper check into an electronic transfer, also known as an electronic check or e-check. In this course, we’ll discuss ECK transactions, MICR encoding, consumer authorization, and payee responsibilities.

Part of our series on Regulations, this course covers the Financial Reserve’s Regulation E, and defines the basics of ECK transactions. It includes a video with audio narration and downloadable materials. A quick quiz is provided to test retention of key takeaways.