Check-Clearing Network Expands ToNonmembers

Register now

OKLAHOMA CITY - (08/16/05) -- Endpoint Exchange LLC, the fledglingcheck- and image-clearing network, said last week it is nowoffering to clear checks drawn on non-member financialinstitutions. The network, set up to facilitate the new Check 21law, will send checks and images drawn on nonmembers to its parentcompany, Marshall & Ilsley Bank, which will clear them byprinting replacement images. The replacement images will then becleared by either the Federal Reserve or Fiserv. Endpoint customerscan use it for some or all of their checks drawn on nonmembers.Endpoint, which is owned by M&I's Metavante, has about 5,000bank and credit union members.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER