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Thursday, January 27, 2022

1980: A behind the scenes look at how checks were processed

Credit: RTV6 The Indy Channel
Duration: 02:43s 0 shares 1 views

1980: A behind the scenes look at how checks were processed
1980: A behind the scenes look at how checks were processed

Most of us understand theI checking account works.an account for you until yyou do need it, you rightpaper, how much money yousomeone else to have, andout and then deduct it frothat's simplifying it quitabout to see from the timeto the time it appears onare actually quite a few smore machine and less manpNational, for instance, itthe bank to process over 2day.

The process starts wibags for each branch, andchecks are brought in, theby the way.

From here on,in a high security area.

Eto get approximate idea ofare in each bag, and the wbegin, the checks are moveas the proof department.

Tinto bundles.

Each bundlechecking transactions of ethe banking system and itsmachine does two things.

Itotal of the amounts of thbatch so the totals can bethe tellers register tape.a magnetic number at the bhand side of the check.

This typing in right now.

Thamong other things, the amway of tracing to check anthere's an error.

A proof1100 checks an hour.

Two cover the tough work complefed to a separate computerThis is where the magneticyou about comes into play.read the checks amount andA tracer number, as it's con the back of the check apictures taken at the froncheck in case you ever neereader sorter, in additionto speak, for another sethere, the checks are put iand sit on a shelf until tWith your statement, the bends up in another computeaccount is here, then thememory of these computerstheir electronic mind andanything you want to knowFaster present.

And this ipaper chase, so to speak.just written is combined wchecks we had written for30 days, all of our checksor combined along with ourenvelope, and it's all setAs a matter of fact, I'vea few cents by picking up

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