Account Numbers; Remotely Created Checks Sample Clauses

Account Numbers; Remotely Created Checks. If a thief obtains your account number, the thief can create checks that look authorized and attempt to withdraw money from your account. A “remotely created check” (sometimes called a telecheck, preauthorized draft, or demand draft) can be created with your account number and used to access money from your account. A remotely created check does not contain an authorized signature but can still be processed and paid. For example, if you provide your account number to someone over the telephone, that person can use the account number to create a remotely created check and withdraw money from your account. If you have approved or authorized the creation of a remotely created check, it is properly payable. But authorizing a remotely created check is risky because a fraudster or thief possessing your account number could remotely create the check for a larger amount than you authorized, or remotely create other unauthorized checks. We are not able to verify your authorization or intended amounts on remotely created checks.