Common use of PAYMENT CONVERSIONS Clause in Contracts

PAYMENT CONVERSIONS. We process most payment checks electronically. We use the information on your check to create an electronic funds transfer. Each time you send a check, you authorize a one-time electronic funds transfer. You also authorize us to process your check as a check or paper draft, as necessary. Funds may be withdrawn from your Account as soon as the same day we receive your payment. You will not receive your cancelled check because we are required to destroy it; however we will retain an electronic copy if the check.

PAYMENT CONVERSIONS. We process most payment checks electronically. We use the information on your check to create an electronic funds transfer. Each time you send a check, you authorize a one-one- time electronic funds transfer. You also authorize us to process your check as a check or paper draft, as necessary. Funds may be withdrawn from your Account account as soon as the same day we receive your payment. You will not receive your cancelled check because we are required to destroy it; however we . We will retain an electronic copy if the checkcopy.