NOTICE TO CUSTOMERS MAKING PAYMENT BY CHECK
Beginning in March 2009, consumer checks that are received for deposit by the Consolidated Public Retirement Board (CPRB) will be converted into an electronic debit transaction through a Paper Check Conversion process (PCC). When you send a completed, signed check to our office for payment you are authorizing our office to scan your check and make a one-time electronic fund transfer (EFT) from your bank account in the amount of the paper check. Please note that your paper check will be properly destroyed upon completion of the PCC process.
Since the PCC process is automated, the electronic fund transfer will occur more quickly than processing a paper check; therefore, it is important to make certain that there are sufficient funds available in your bank account when you send your check to our office for payment. The EFT should appear on the account statement that you receive from your financial institution and the name of the check cashing location should be indicated.