Common use of Electronic Check Transactions Clause in Contracts

Electronic Check Transactions. You may authorize a merchant or other payee to make a one-time electronic payment from your share draft account using information from your check to pay for purchases, pay bills, or pay other obligations (“electronic check transactions”). You agree that your authorization for an electronic check transaction occurs when you initiate such a trans- action after receiving any required notice regarding the merchant’s right to process the transaction or payment, including any written sign provided by the merchant at the time of your transaction. All terms governing electronic fund transfer services will apply to electronic check transactions, except the $50 and $500 limits of liability for unauthor- ized transactions in Section 4. You remain responsible for notifying us of any unauthor- ized electronic check transaction shown on your statement.

Electronic Check Transactions. You may authorize a merchant or other payee to make a one-time electronic payment from your share draft checking account using information from your check to pay for purchases, pay bills, or pay other obligations (“electronic check transactions”). You agree that your authorization for an electronic check transaction occurs when you initiate such a trans- action transaction after receiving any required notice regarding the merchant’s right to process the transaction or payment, including any written sign provided by the merchant at the time of your transaction. All terms governing electronic fund transfer funds transfers services will apply to electronic check transactions, transactions except the $50 and $500 limits of liability for unauthor- ized unauthorized transactions in Section 4III. 5. (Member Liability). You remain responsible for notifying us of any unauthor- ized unauthorized electronic check transaction shown on your statement.