Exception Check definition
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.
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.
Examples of Exception Check in a sentence
Any Exception Check for which no such response has been provided by Company in accordance with this Section 4 shall be paid by F&M Bank.
Such response shall either authorize payment or provide return instructions for each Exception Check.
More Definitions of Exception Check
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 the checks listed or identified on the Positive Pay File provided to the Bank via the System.
Exception Check means a Presented Check that is identified as an exception through Online Banking’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 Company subscribes to payee match service, payee name. F&M BANK shall be under no duty to make comparison of payee name unless this optional service has been selected by Company and Company’s checks strictly comply with all technical specifications required to enable automated payee name comparison.
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 shall have the meaning prescribed in Section 5 of the Remote Deposit Capture Service Description.
Exception Check means any Electronic File, or any portion thereof, that Bank in its sole discretion determines to be ineligible for deposit through RDC.
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.