For the individual/juridical
person cashing the funds:
■ The timeframe for their financial
entity to credit the funds to their account is regulated
■ There is the possibility of filing a
claim with the client’s own entity, if the funds are not credited
within said timeframe.
the financial entity is unable to solve the claim, another claim may be
submitted to BCCR. Claims may also be filed if the client’s financial
entity should fail to credit the funds altogether [More
■ The collection process is improved, as
clients receive timely information on any uncollected checks, so they
may do the collection procedure again.
■ There are fewer security risks, since
cash does not have to be moved from one financial entity to another to
make a deposit.