Electronic Check Conversion definition

Electronic Check Conversion will mean a one-time electronic funds transaction where a check, draft or similar paper instrument is used as a source of information to initiate the transaction.
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Electronic Check Conversion and means the process or system by which a paper check is converted to an electronic transaction.
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Electronic Check Conversion means that I can authorize a check, draft or similar paper instrument to be used as
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Examples of Electronic Check Conversion in a sentence

  • If you request a Stop Payment Order on an Electronic Check Conversion or other one-time debit transfer, we must receive the request, orally or in a record or writing, in a period of time that provides us a reasonable opportunity to act on it prior to acting on the debit entry, otherwise the Stop Payment Order shall be of no effect.

  • This process is known as an "Electronic Check Conversion." Electronic Check Conversions are transactions that are regulated by the Electronic Funds Transfer Act.

  • This Part governs your use of Electronic Check Conversion and Direct Deposit and Direct Debit Services, in addition to the terms in Part 1 above.

  • If you request a Stop Payment Order on an Electronic Check Conversion or other one-time debit transfer, or on a multiple or future debit entry transfer, we must receive the request, orally or in a record or writing, in a period of time that provides us a reasonable opportunity to act on it prior to acting on the debit entry, otherwise the Stop Payment Order shall be of no effect.

  • When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to proc-ess the payment as a check transaction.(b) Alternative Notice About Electronic Check Conversion (Optional).When you provide a check as payment, you authorize us to use information from your check to make a one-time electronic fund transfer from your account.

  • I understand that the Credit Union will not stop payment on an Item if it is processed as an Electronic Check Conversion Transaction and I have not indicated that above.

  • If you do not want your check to be used for Electronic Check Conversion, you may have to provide another form of payment (for example, cash, debit card, or credit card).

  • This Part governs Your use of Electronic Check Conversion and Direct Deposit and Direct Debit Services, in addition to the terms in Part 1 above.

  • I understand that the Credit Union will not stop payment on an item if it is processed as an Electronic Check Conversion Transaction and I have not indicated that above.

  • Promise to Pay, Accord and Satisfaction, and Electronic Check Conversion..............................


More Definitions of Electronic Check Conversion

Electronic Check Conversion is a process in which your Personal Account check is used as a source of information for the check number, bank Routing/Transit number and account number. The information is then used to make a one-time electronic payment from your Account or an “electronic fund transfer” from your Account.
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Electronic Check Conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking Account using information from your check to pay for purchases or pay bills. Electronic check conversion is a payment process in which a merchant (after obtaining your authorization) uses your check to gather routing, Account, and check number information to initiate a one-time EFT. This type of EFT transaction involving a consumer account is covered by the EFTA. A description of the transaction will appear on your statement.
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Electronic Check Conversion occurs when you authorize a merchant or other payee to make a one-time electronic payment from your checking Account using information from your check to pay for purchases or to pay bills via ACH or other electronic means.
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Electronic Check Conversion. We do not impose a fee for each single entry withdrawal from your account. DIS-5075 Rev 8/25/2016
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Related to Electronic Check Conversion

  • Electronic Control System means a combination of units, designed to co-operate in the production of the stated vehicle control function by electronic data processing. Such systems, often controlled by software, are built from discrete functional components such as sensors, electronic control units and actuators and connected by transmission links. They may include mechanical, electro-pneumatic or electro-hydraulic elements.

  • Electronic Communication Network means the transmission line connecting the data transmission place and the data receiving place.

  • Electronic Funds Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.

  • Electronic communications system means any wire, radio, electromagnetic, photooptical or photoelectronic facilities for the transmission of wire or electronic communications, and any computer facilities or related electronic equipment for the electronic storage of such communications;