Watch out!!!! The new check 21 system will end up costing consumers a great deal in bounced check fees. The new system will speed up the processing of some checks but not others. The problem is that funds you deposited in your account may not clear before the check you wrote. There will be some cases where a person deposits money, then writes a check on the money. If the check clears before the deposit, the consumer could get dinged for a fee.
If your bank has a holding period before you can start cashing checks, then you better start paying closer attention to your account. If you've been thinking of investing in banking stock, expect larger than usual profit from fees.