Retail Payments Issues: Experience With Electronic Check Presentment

Pursuant to a congressional request, GAO reviewed the current role of electronic check presentment (ECP) in the collection process for interbank checks, focusing on: (1) identifying and describing the ECP services offered to U.S. banks; (2) determining the ECP volume in the United States for 1995 through 1997; (3) determining whether ECP affects the length of time that it takes for a dishonored check to be returned to the depositary bank; (4) identifying any factors that may limit ECP use; and (5) determining how ECP may affect banks' risk of check fraud.