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Q: What are image statements?
A: Image statements are "pictures" of your cancelled checks. Statements are printed 18 images per sheet.
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Q: Are image statements acceptable proof of payment?
A: Yes. The IRS considers it acceptable proof of payment as long as the statement shows the check number, the amount of the check, and the payee name. Your image statement will include all of this information.
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Q: Does this mean I will no longer receive my checks back?
A: Actually you still are getting your checks back. The checks are in a different format, one that is easier to manage, and you are getting them back in check number order making it easier to reconcile your account.
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Q: Will the image statement show the back of the check as well?
A: In order to use less paper we are not including the back of the checks in your statement. If you need a copy, you may request them at any time and we will get them to you by mail, fax, or in person, in many cases on the same day of your request.
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Buchanan · (540) 473-1173
Daleville · (540) 992-4777
Eagle Rock · (540) 884-2265
Troutville · (540) 966-3850
Bonsack · (540) 777-2265
www.bankofbotetourt.com
Member FDIC
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Q: What if I lose my check image statement?
A: We will keep archives of your image statements indefinitely and available for retrieval.
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Q: Will this new service cost me more in service charges?
A: No we are not charging any additional fees for this service. Actually imaging will lessen future increases in service charges.
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Q: Will I need to get new checks because of image statements?
A: No. Most checks will provide a quality image. If you do experience problems as a result of your checks we will work with you to resolve the problem.
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Q: When will I begin to receive the image statements?
A: With your June statement you will receive both image statement and your checks back and with your July statement you will receive only the image statement.
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