Regional Check Processing Center Law and Legal Definition

Regional Check Processing Center (RCPC) is a Federal Reserve check clearing system which receives and collects checks drawn on banks within that region. RCPCs expedite collection and settlement of checks within the area on an overnight basis.

The following is an example explaining the functioning of RCPC:

A bank in Atlanta that wants to expedite the collection of a check drawn on an Arizona bank can forward the check directly to the RCPC serving Arizona. The Arizona center will give the Atlanta bank credit at the Federal Reserve Bank serving Atlanta, and then collect the check proceeds faster than the Atlanta bank could have.