Common use of Electronic Check Conversions Clause in Contracts

Electronic Check Conversions. Some point of sale terminals may provide you the option of initializing a onetime automatic debit from your account by authorizing the merchant to obtain the necessary information from a check drawn on your deposit account. A check used in this way is treated as an EFT and is not negotiable. The check cannot be subsequently used and should be voided.

Electronic Check Conversions. Some point Point of sale Sale terminals may provide you the option of initializing a onetime one-time automatic debit from your account by authorizing the merchant to obtain the necessary information from a check drawn on your deposit account. A check used in this way is treated as an EFT and is not negotiablenegotiable in its own right. The check cannot be subsequently used and should be voided.