Digital checks are more attractive than other means of on-line payment, because checks in the traditional paper form are very popular in business. However, the risk of duplication fraud is a major concern. Cryptography, including the technology of digital signature, allows recipients of digital checks to authenticate the signatory and to validate data integrity. But using cryptography offers no guarantee that duplication frauds can be avoided or detected. This paper studies the electronic check systems presently in use in United States and Taiwan, and then proposes a "central-deposit" electronic check system model. The basic idea was obtained from observing the central depository system for equity securities in Taiwan. By including a "Central Payment Center (CPC)" into the proposed model, electronic checks generated are registered and kept at a location instead of being circulated. The major benefits of our Central Depository Model include reduction of both cost and risk.