Substitute Checks. To make check processing faster, federal law permits financial institutions to replace original checks with "substitute checks." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute check(s). An electronic check can be used to create a substitute check since the electronic image and electronic information was derived from its paper form.
Appears in 15 contracts
Samples: Consumer Deposit Account Agreement, Business Deposit Account Agreement, Deposit Account Agreement
Substitute Checks. To make check processing faster, federal law permits financial institutions to replace original checks with "substitute checks." These substitute checks are similar in size to the original checks items with a slightly reduced image of the front and back of the original checkitem. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original checkitem. Some or all of the checks items that you receive back from us may be substitute check(s)checks. An electronic check can be used to create a substitute check since the electronic image and electronic information was derived from its paper form.
Appears in 1 contract
Samples: Business Deposit Account Agreement
Substitute Checks. To make check processing faster, federal law permits financial institutions to replace original checks with "“substitute checks." ” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "“This is a legal copy of your check. You can use it the same way you would use the original check." ” You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute check(s). An electronic check can be used to create a substitute check since the electronic image and electronic information was derived from its paper form.
Appears in 1 contract
Samples: Account Agreements and Disclosures