Floating Checks to Disappear

The Army and Air Force Exchange Service will start processing checks electronically in January. Thus, instead of taking up to three days for payment, the amount of the check will be taken from a customer’s account by the very next day, said an exchange official. This will prevent check writers from floating their checks — writing them without having the funds in their accounts, and using the typical three-day processing time to get paid or move funds to cover the amount. With the new system in effect, money-management will be a necessity rather than a recommendation for customers. Individuals will actually need sufficient funds in their accounts to pay for a purchase by check or the check will bounce.