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What is Check 21?

Check 21 (the Check Clearing for 21st Century Act) allows banks to replace original paper checks (source document) with digital copies of originals.

Why was Check 21 created?

Check 21 will reduce time, risks and costs associated with paper check processing. Banks will be able to send digital images of checks electronically, eliminating need to physically transport paper checks between banks. Clearly there will be substantial costs and time savings to banks.

What is a substitute check?

A substitute check is a paper copy of digital image of your original check, called source document - both front and back, with all endorsements -and is about size of a business check. Check 21 legislation standardizes quality and allows for substitute checks to be legal copies of originals.

Are substitute checks an acceptable proof of payment?

Yes, everyone must accept substitute checks beginning Oct. 28.

How will Check 21 impact me?

No doubt that this is right time to get into online business. Building a website for selling products or services is no longer that difficult. You can make your own website by using available sophisticated but easy-to-learn-and-use programs like Macromedia Dreamweaver, Microsoft Frontpage, Adobe Go live, etc. There also exist various online web store builders similar to Rusbiz.com, which allow you to create powerful web stores using simple editors and numerous templates. You can also setup a store with E-bay and sell products through it. Finally, you can hire professional web designers to develop your website. So, important question isnot how to get online, but what to sell on Internet?

In one of my articles – What to sell on Internet? (http://ezine.rusbiz.com/archivenews.html?nl_oid=19) – I wrote about selling information products. Although this is an interesting concept, you might think that this is not your cup of tea; and you still prefer to work with some tangible products. In ideal scenario, probably, you want to sell a product of your choice but don’t want to carry your own stock and don’t want to handle shipping. Is there a way of doing this? Yes, there is! It’s called “Drop-shipping”.

What is drop-shipping?

When a manufacturer, wholesaler, distributor or importer, after receiving an order from their retailers, individually pack and deliver product to customer of retailer with retailers address as shipper, this selling technique is called drop-shipping.

The advantages of drop-shipping include:

- You do not have any inventory. So, there is no stock carrying expense involved. - You pay for item only when it is sold and you got paid from your customer. You don’t need to invest money in buying product. - You can sell just one item at a time. No minimum quantity required. - Your drop-shipper will supply you with necessary product image and specification. You don’t have to spend money on creating your own. - You fix your own selling price of product. Convenient, when you know your niche market well. - You can offer various products on your web store from multiple suppliers.

Select a product to sell