PCC OTC Transaction Steps - Financial Management Service

1. The agency receives a completed and signed consumer or business check (presented either face-to-face or received through the mail).

2. The agency scans the check to read the M.I.C.R. data and captures an image of the check.

3. The agency stamps the check "Electronically processed". In face-to-face transactions the agency hands the voided check back to the check writer. For checks received through the mail the agency must destroy the check within 14 days.

4. The agency will perform a daily batch transmission of images and the associated financial information obtained from the checks to the Central Image and Research Archive (C.I.R.A.), where the images and information are available to the agency for a period of 7 years.

5. All financial information necessary to create the debit to the check writer's account will be forwarded for processing.

6. A debit will be processed to the check writer's account and the CA$HLINK entry created on behalf of the agency. The SF 215 (Deposit Report) and an SF 5515 (Debit Report for return items(s), if needed) is available for downloading via ELVIS the next business morning following the batch transmission.