Substitute Check definition

Substitute Check means a paper reproduction of an Item that satisfies the requirements and definition of "substitute check" set forth in Regulation CC.

Substitute Check means a paper check or item created from an electronic image in accordance with Regulation CC.

Substitute Check means a paper re- production of a check drawn on the United States Treasury that meets the definitional requirements set forth at 12 CFR 229.2(aaa).

Examples of Substitute Check in a sentence

• Furthermore, if you provide us with an Electronic Image of a Substitute Check for deposit into your Account instead of an Original Check, you agree to reimburse us for all claims, losses, costs and damages we incur because the Substitute Check resulting from the Electronic Image does not meet applicable Substitute Check Standards or causes duplicate payments.

• Such other bank may instead send us a Substitute Check or, in some cases, an Electronic Image by which we can create a Substitute Check.

• Should you receive a valid Substitute Check from someone else that has not yet been collected, you may deposit that Substitute Check in the same manner as you would deposit an Original Check you received.

• All endorsements must appear on the back of the check or other item within the first 1-1/2 inches from the left side of the item when looking at it from the front, except that for Substitute Checks, endorsements that appeared on the back of the Original Check must also appear on the back of the Substitute Check.

• Creating a valid Substitute Check takes specialized equipment and adherence to precise specifications.

More Definitions of Substitute Check

Substitute Check means a paper reproduction of an Original Written check as defined in the Check Clearing for the 21st Century Act of 2003, as amended.

Substitute Check means a paper reproduction of an Original Check that: (1) contains an image of the front and back of the Original Check; (2) bears a MICR line that, except as provided under the applicable Standard, contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured;

Substitute Check means a paper reproduction of an Original Check that: (a) contains an image of the front and back of the Original Check; (b) bears a MICR line that contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured; (c) conforms in paper stock, dimension, and otherwise; and (d) is suitable for automated processing in the same manner as the Original Check.

Substitute Check means a paper reproduction of an

Substitute Check has the meaning given to it Section 3(16) of the Check Clearing for the 21st Century Act (“Check 21”), P.L. 108-100, 12 U.S.C. § 5001(16).

Substitute Check means a paper reproduction of an Original Check that (1) contains an image of the front and back of the Original Check; (2) bears a MICR line that, except as provided under the applicable Standard, contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured; (3) conforms in paper stock, dimension, and otherwise with ANS X9.100-140 (unless the FRB by rule or order determines that a different standard applies); and (4) is suitable for automated processing in the same manner as the Original Check.

Substitute Check means a paper reproduction of an Original Check that: