Electronic Checking Conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your check- ing account using information from your check to pay for purchases or pay bills. The check may be given to the merchant or other payee blank, partially completed, or fully completed and signed; may be presented at the point of sale or mailed to a merchant or other payee or lockbox and later converted to an “electronic fund transfer;” or may be retained by the consumer, the merchant or other payee, or the payee’s financial institution. This may include the electronic payment of charges for checks returned for non-payment. Your authorization to make such types of “electronic fund transfers” may be expressed in writing or implied, for example, by the merchant or other payee posting a sign. Touch Tone Teller Transactions: If you have authorized access to our Touch Tone Teller automated response system, you may use your touch tone telephone and PIN to make the following “electronic fund transfers:” •Withdrawals from your “asset accounts” or line of credit loan accounts in the Credit Union, except XXX, escrow, and certificate accounts (A check will be mailed to your address on file.); •Transfers between your “asset accounts” in the Credit Union, excluding XXX, escrow, and certificate accounts; •Transfers between your “asset accounts” and your line-of-credit loan accounts in the Credit Union, except XXX, escrow, and certificate accounts; •Transfers from your “asset accounts” to your closed-end loan accounts in the Credit Union, except XXX, escrow, certificate accounts, and mortgages. •Transfers from your “asset accounts” in the Credit Union (excluding XXX, escrow, and certificate accounts) or line-of-credit loan to another member account at the Credit Union, which you have previously authorized. •Balance inquiries and other account information on your asset and loan accounts*. *These are not “electronic fund transfers.”
Electronic Checking Conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills. The check may be given to the merchant or other payee blank, partially completed, or fully completed and signed; may be presented at the point of sale or mailed to a merchant or other payee or lockbox and later converted to an “electronic fund transfer;” or may be retained by the consumer, the merchant or other payee, or the payee’s financial institution. This may include the electronic payment of charges for checks returned for non- payment. Your authorization to make such types of “electronic fund transfers” may be expressed in writing or implied, for example, by the merchant or other payee posting a sign.
