Electronic Checks. If you authorize a merchant to electronically debit your checking account using the routing, account, and serial number of your check to initiate the transfer, whether the check is blank, partially or fully completed and signed, such authorization is an electronic check conversion. An electronic check conversion is an electronic funds transfer (EFT) subject to the terms of the Electronic Funds Transfer Agreement. You authorize us to honor any electronic check conversion from your checking account.
Electronic Checks. Pursuant to Regulation CC, electronic checks may be treated the same as paper checks for check collection and processing purposes.
Electronic Checks. If you authorize a merchant to electronically debit your Checking account using the routing, account, and serial number of your check to initiate the transfer, whether the check is blank, partially or fully completed and
Electronic Checks. If you authorize a merchant to elec- tronically debit your share draft account using the routing, ac- count and serial number of your check to initiate the transfer, whether the check is blank, partially or fully completed and signed, such authorization is an electronic check conversion. An electronic check conversion is an electronic funds transfer (“EFT”) agreement subject to the terms in section III. ELEC-
Electronic Checks. If you authorize a merchant or provide account information to any other third party to enable them to initiate an electronic fund transfer from your account, your right to stop that payment is covered in your agreement with the Credit Union for electronic fund transfers. The stop payment rights disclosed here do not apply to those transactions.
Electronic Checks. An electronic Check is created when you authorize the conversion of your Check to an electronic item for processing. When you (or any person with proper authority) authorize any electronic Check, you agree (a) that we may pay Collection of Deposits: In handling deposits to your Account, we act only as your agent for collection and we assume no responsibility beyond the exercise of ordinary care. By signing the Signature Card or using any Account or service, you waive your rights to notice of non-payment, dishonor or protest regarding all items presented for collection. We have the right to refuse any order, transfer or deposit, limit the amount that may be offered for deposit and to return all or any part of a deposit. Special instructions for handling an item are effective only if made in writing and given to us separately along with the item in question. We will not be liable for any default or negligence of correspondents or for loss in transit and each correspondent will only be liable for its own negligence. We are authorized to pursue collection of previously dishonored items (including re- presentment), and in so doing we may permit the payor financial institution to hold an item beyond the midnight deadline. Items that we present or re-present may be truncated or converted to an electronic or other format. If an item is not paid, you are fully responsible for any loss we may incur in seeking to collect the item for you. Direct Deposits: If a direct deposit is made to an Account that should have been returned to the U.S. Government for any reason, you authorize us to deduct the amount of our liability to the U.S. Government from the Account or from any other Account you have with us, without prior notice and at any time, except as prohibited by Applicable Law. We may also use any other legal remedy to recover the amount of our liability.
Electronic Checks. You may give a merchant information about your checking Account over the phone or over the Internet and authorize them to create an electronic withdrawal from your Account. Funds will normally be withdrawn from your Account the next Business Day. The transaction will appear in the “Other Withdrawals/Debits” section of your monthly Account statement. If the Account is used for personal, family or household purposes, then these transfers are governed by the Electronic Funds Transfer Act and Regulation E, and are also governed by the NACHA Operating Rules and Operating Guidelines and are also subject to the separate Frost Bank Electronic Funds Transfer Agreement and Disclosure.
Electronic Checks. If you authorize a merchant to 2
Electronic Checks. We may pay and charge your applicable account for checks payable to any person, organization, association or corporation whom you have authorized by providing sample MICR encoded information identifying your account provided there are sufficient funds in your account to pay such checks. You agree that our rights in respect to such checks shall be the same as if it were a check drawn and signed by you personally. This authority shall remain in effect until revoked by you in writing (to us and to the agency to which the sample MICR writing was provided) and we have had a reasonable opportunity to act on it. You agree that we shall be fully protected in honoring such checks. You further agree that if any such check is dishonored, whether with or without cause, and whether intentional or inadvertent, we shall be under no liability whatsoever, even though such dishonor results in the forfeiture of insurance, loss or damage to you of any kind. If we have made a good faith payment to a holder, we may charge your account according to: a) the original terms of your check; or b) the terms of your completed check unless we have notice that any such completion is improper.
Electronic Checks. If you authorize a mer- chant to electronically debit your checking account using the routing, account, and serial number of your check to initiate the transfer, whether the check is partially blank or fully completed and signed, such authorization is an electronic check conversion. An electronic check conversion is an electronic funds trans- fer (“EFT”) subject to the terms of Section V of your Membership and Account Agreement, “Electronic Funds Transfers.” You authorize us to honor any electronic check conversion from your checking account just the same as a regular written check.
