Check Processing. We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and indorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have not failed to exercise ordinary care solely because we use our automated system to process items and do not inspect all items processed in such a manner. Using an automated process helps us keep costs down for you and all account holders.
Check Processing. The University further agrees to send a check or ACH Payment to the Union for all union dues and/or agency shop fee deductions which have been requested by employees or is required for employees covered by this Agreement. The cost of processing the check shall be ten dollars ($10.00). In addition, the University will charge the Union seven cents ($.07) for each dues deduction made from a paycheck.
Check Processing. MERCHANT shall submit all documentation related to the guaranteed transactions to SPS-EFT within forty-eight hours of SPS- EFT’s request, including but not limited to sales receipts, invoices, or other documentation related to the transaction.
Check Processing. We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and indorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of indorsements unless you notify us in writing that the check requires multiple indorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would not be identified by a reasonable inspection of the item. Using an automated process helps us keep costs down for you and all account holders.
Check Processing. Because of the nature of the check collection and processing system, neither the Credit Union nor any other processing entities will be responsible for verifying the authenticity of any Check, including any signature or indorsement, or for detecting any alteration of a Check. As a result, Checks, when presented, will be paid without verification. We may disregard all information on, or any writing or memorandum attached to, any Check except for your signature, the amount, and the information that is magnetically encoded. You agree that we have not failed to use ordinary care because our Policies do not provide for sight examination. You will notify us immediately if you learn or have reason to know that any of your unused checks have been lost or stolen. If you are negligent in safeguarding your checks or if there is a processing problem because of the quality of your Check, we will not have any liability or responsibility for any losses you incur as a result if we act in good faith pursuant to standard commercial practices. Check Copies: you understand that, when paid, your original Check becomes property of the Credit Union and may not be returned to you. If you request us to provide you with an original Check or sufficient copy, we may provide a copy or an electronic image of the original Check. We may charge you a fee (as set forth in the Fee Schedule) for each item you request and for research. Temporary Holds and Authorizations for Amounts in Excess of Transactions: To facilitate certain electronic transactions that you make, we may place a temporary hold on funds in your Account. We can neither control the parties with whom you do business nor regulate the processing of transactions through the commercial networks used to facilitate your transactions. Therefore, it is your obligation to ensure that sufficient funds are on deposit in your Account at all times to cover the transactions you make – including the amount that may be subject to these holds. Under the rules of various processing networks (such as Visa or MasterCard), a merchant or retailer may obtain authorization in excess of your transaction amount. For example, a hotel or car rental merchant may hold up to three times the total estimated amount of your actual hotel stay or car rental. This is deemed to be an “authorized amount” by you and will not be available via your Account until after your bill is settled with the merchant or retailer. This may cause your Account to have insufficient...
Check Processing. You authorize us to endorse all checks we receive on your behalf through this Service. We may accept checks for deposit to your Account without endorsement and regardless of any difference between the name of the payee and your legal name (e.g., “Acme”, as opposed to “Acme Publishing, Inc.”). You will be deemed to warrant the endorsement of all items we receive through this Service, as well as your right to receive such items for deposit to your Account.
Check Processing. For certain loan programs, EVRI will be required by Bank Operation Procedures and Loan Standards to fund loans through the use of a check rather than a documentary draft. In those cases, EVRI will obtain all necessary information and Loan Documents in order to properly evidence the customer's loan obligation and the Bank's security interest in the vehicle (as set forth in the Operations Procedures and Loan Standards). Once all necessary documents and information are obtained, EVRI shall properly distribute all loan funds to customers, pay off other lenders, pay taxes or other titling fees, as required by and in conformance with the Operating Procedures.
Check Processing. You understand and agree that we may utilize automated means to process checks and other items written on or deposited to your account. Although we may manually review checks or other items drawn on your account, you understand and agree reasonable commercial standards do not require us to do so.
Check Processing. MERCHANT shall submit all documentation related to the guaranteed transactions to Paya-EFT within forty-eight hours of Paya-EFT’s request, including but not limited to sales receipts, invoices, or other documentation related to the transaction.
Check Processing. MERCHANT shall submit all documentation related to the guaranteed transactions to GETI within forty-eight hours of GETI’s request, including but not limited to sales receipts, invoices, or other documentation related to the transaction.
