System and Method For Image Depositing, Image Presentment and Deposit Taking in a Commercial Environment

A method for image based transactions, comprising:

• scanning, using a check imaging station computer, an original paper check having at least one of handwritten and machine written text and encoded with magnetic indicia received for deposit at a first location;
• creating, using the check imaging station computer, an electronic image file of the scanned original paper check consisting at least in part of an electronic representation of the at least one of handwritten and machine written text and the magnetic indicia encoding;
• transmitting, using the check imaging station computer, the electronic image file of the scanned original paper check from the first location to a check image server computer at a second location;
• and
• recreating, using the check image server computer, a paper facsimile image of the scanned original paper check with the at least one of handwritten and machine written text and encoded with the magnetic indicia encoding from the electronic image file of the scanned original paper check for processing a transaction with the paper facsimile image in place of the scanned original paper check.