Exception Check definition

Exception Check means a Presented Check that does not match a check included in a Check Issue File or appears to be a duplicate of another check in the Check Issue File.

Exception Check means a Presented Check that does not match a check number and/or amount of a check included in an Issued Check File.

Exception Check means a Presented Check that does not match a check included in an Issued Check File.

Examples of Exception Check in a sentence

• If an Exception Check is not assigned a “Return” decision on the Return Items File and Customer does not call the Bank with a return instruction before the Check Positive Pay Exceptions Review Cut-Off set forth in Section 19, on the business day following the day of presentment of the presented checks, the Bank will pay all presented checks, including but not limited to Exception Checks and non-matching items.

• The Bank shall only use the Check Positive Pay File and Exception Check Report that complies with paragraph 29.a.1, provided that either one or both has not been revoked by Customer in accordance with paragraph 29.1.v. in the handling of Presented Checks under this Agreement.

• The Bank makes no representation or warranty regarding the effectiveness of the Exception Check Report, and makes the Exception Check Report available only as an accommodation to Customer.

• In the event that there is wrongful honor the Bank may, subject to the defenses set forth in this Agreement, be liable to the Customer for the lesser of the amount of the wrongfully paid Exception Check or the Customer’s actual damages resulting from the Bank’s payment of the Exception Check, but for no other damages suffered as a result of the wrongful honor.

• Customer agrees to indemnify, defend and hold the Bank harmless from every loss, liability and claim arising from information provided on, or excluded from, the Exception Check Report by the Bank.

More Definitions of Exception Check

Exception Check includes, but is not limited to, a Check that (i) is illegible or contains MICR data that is not machine- readable, (ii) was previously processed as a Check; or (iii) is drawn on banks located outside the United States and is not payable at or through a bank located within the United States. Bank will notify you of each Exception Check through the PinnBank For Business online service, or other communication channels at Bank's discretion. If you wish to attempt to deposit any Exception Check to your Authorized Account, you shall do so only by depositing the original paper check on which the Exception Check is based or as otherwise agreed between us. Even if Bank does not initially identify a Check as an Exception Check when Bank reviews and processes the Check to which the Exception Check relates, the Check or the substitute check or the alleged substitute check created by Bank from it may nevertheless be returned to Bank because, among other reasons, the paying bank determines that such item or check is illegible or missing an image. Bank's failure to identify an Exception Check shall not preclude or limit the obligation of you to us under Section 4 of Article V above. Subject to Bank's right to identify and reject Exception Checks, Bank shall be deemed to have accepted each Check that is not an Exception Check for deposit to the Authorized Account on the Business Day what Bank processes the Check, provided its Transmission to Bank is prior to the Cut-off Time. In addition, a Check will be deemed to have been deposited at the office where the Authorized Account is maintained.

Exception Check. A Presented Check that: (a) does not match a check included in a Check Issued File; (b) is presented to Extraco for payment more than 180 days after its date of issue; or (c) cannot be electronically processed because of mutilation; obliterated, covered, or faulty magnetic ink used to imprint the check number, account number, or amount on the Presented Check; or for any other reason and whether resulting from Extraco’s processing or from the handling of other institutions involved in the check clearing and collection process.

Exception Check means a Presented Check that does not match a check included in a Check Issue Report. “File” means a group of ACH entries stored for delivery to an ACH receiving point.

Exception Check means a Presented Check that is identified as an exception through InView’s utilization of information properly included in the applicable Check Issue File/Entry regarding any of: check number, check amount, check status (such as check voided or payment stopped) or, if Customer subscribes to payee match service, payee name. Bank shall be under no duty to make comparison of payee name unless this optional service has been selected by Customer and Customer’s checks strictly comply with all technical specifications required to enable automated payee name comparison.

Exception Check. (Positive Pay/Reverse Positive Pay) means a Presented Check that: (a) does not match a check included in a Check Issued File; (b) is presented to Extraco for payment more than 180 days after its date of issue; or (c) cannot be electronically processed because of mutilation; obliterated, covered, or faulty magnetic ink used to imprint the check number, account number, or amount on the Presented Check; or for any other reason and whether resulting from Extraco’s processing or from the handling of other institutions involved in the check clearing and collection process.

Exception Check means a Presented Check that does not match a check included in a Check Issue Report or a Presented Check that has been flagged by Customer for Customer’s review as an Item Stop or as a time dated check, signature required, or endorsement verification required.

Exception Check means a Presented Check that does not match the checks listed or identified on the Positive Pay information provided to us via our Online Banking System either manually or through an electronic file.