Two of the oldest forms of payments are checks and debit and credit cards. While check use is decreased and physical checks have not changed dramatically, processing them has. Cards have had a number of changes in their look and security functions, but also with some of the regulatory requirements.

It is important bank staff understand the requirements of checks and cards. This course provides an overview of the features, processes and regulations regarding checks and debit and credit cards.

Learning Objectives:

• Identify the features of a check
• Identify the check participants and how a check flows through the system
• Understand the basics of the regulations that pertain to checks
• Identify the different types of cards
• Understand the key features of cards
• Understand the card processing flow
• Identify the card participants
• Understand the basics of the legal framework around cards

Course Outline:

• Key Features of a Check
• Check Participants & Processing Flow (Payor, Payee, BFD, Fed, Paying Bank)
• Check Regulations (UCC, Reg CC, Reg J)
• Types of Cards
• Key Features of Cards
• Card Participants (cardholder, issuer, merchant, bank, processor, network)
• Card Processing Flow
• Card Legal Framework

Rev–Sept. 2023. Course length ≈ 37 minutes.

This course is worth 0.5 CPE credit.