Common use of RCK Transactions Unacceptable for Processing Clause in Contracts

RCK Transactions Unacceptable for Processing. The Rules set forth those items that are unacceptable for RCK processing. They include, but are not limited to the following: (a) Checks that have been presented to the RDFI three (3) times or more for payment in any format; (b) Checks drafted 180 days or more from the date that the returned check item is transmitted to the RDFI; (c) Post‐dated checks; (d) Checks not bearing an imprint including: 1) “I agree that my account will be debited electronically for both the face amount and the returned check fee if returned unpaid.” 2) The Check Writer’s signature indicating his acceptance of the imprint. CUSTOMER is solely and absolutely responsible for all losses and damages related to unacceptable transactions submitted to PROCESSOR. PROCESSOR shall have right against the Settlement Account and any other account that is held by PROCESSOR to initiate debits to make PROCESSOR whole for the amount of said transactions and any fees associated with the presentment of such unacceptable transactions.

RCK Transactions Unacceptable for Processing. The Rules set forth those items that are unacceptable for RCK processing. They include, but are not limited to the following: (a) : ‐ Checks that have been presented to the RDFI three (3) times or more for payment in any format; (b) . ‐ Checks drafted 180 days or more from the date that the returned check item is transmitted to the RDFI; (c) . ‐ Post‐dated checks; . ‐ Checks returned for other than Non‐Sufficient Funds (dNSF) or uncollected funds. ‐ Checks not bearing an imprint including: 1) “I agree that my account will be debited electronically for both the face amount and the returned check fee if returned unpaid.” 2) The Check Writer’s signature indicating his acceptance of the imprint. CUSTOMER is solely and absolutely responsible for all losses and damages related to unacceptable transactions submitted to PROCESSOR. PROCESSOR shall have right rights against the Settlement Account and any other account that is held by PROCESSOR to initiate debits to make PROCESSOR whole for the amount of said transactions and any fees associated with the presentment of such unacceptable transactions.