ELECTRONIC SYSTEM CUTS CHECK LOSSES, BANK FEES

OAKLAND, Calif. -- Piedmont Grocery Co. here is significantly reducing both its check losses and check-processing costs with the use of an electronic check-acceptance program."We are now collecting almost 95% of all returned checks, whether it is through second submissions or the fact that electronic transactions get payment 'seniority' over paper items," said David Larson, president of Piedmont.

OAKLAND, Calif. -- Piedmont Grocery Co. here is significantly reducing both its check losses and check-processing costs with the use of an electronic check-acceptance program.

"We are now collecting almost 95% of all returned checks, whether it is through second submissions or the fact that electronic transactions get payment 'seniority' over paper items," said David Larson, president of Piedmont. "In addition, we have reduced our returned checks by at least 60%."

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