Common use of Electronic Presentment of Checks Clause in Contracts

Electronic Presentment of Checks. When you write a check to a third party, that party or its depository institution may present that check electronically for payment, instead of sending us the paper check. Since we do not receive your check, neither a cancelled check nor its image is available from us. When we receive these items in electronic form, or an electronically-created item for which a check never existed, they are debited against your account the same as if we had received the actual paper check, as explained in our Substitute Check Policy Disclosure in Section J of this Agreement.

Electronic Presentment of Checks. When you write a check to a third party, that party or its depository institution may present that check electronically for payment, instead of sending us the paper check. Since we do not receive your check, neither a cancelled check nor its image is available from us. When we receive these items in electronic form, or an electronically-created item for which a check never existed, they are debited against your account the same as if we had received the actual paper check, as explained in our Substitute Check Policy Disclosure in Section J of this Agreement.

Electronic Presentment of Checks. When you write a check to a third party, that party or its depository institution may present that check electronically for payment, instead of sending us the paper check. Since we do not receive your check, neither a cancelled check nor its image is available from us. When we receive these items in electronic form, or an electronically-created electronically‐created item for which a check never existed, they are debited against your account the same as if we had received the actual paper check, as explained in our Substitute Check Policy Disclosure in Section J of this Agreement.