WEB Entries Clause Samples
WEB Entries. You can submit ACH Orders for internet-initiated/mobile entries (“WEB Entries”). You may initiate single or recurring WEB entries only to consumer accounts. A WEB Entry must be based on (i) an authorization that is communicated (but not by oral communication) by the Receiver to you via the Internet or a Wireless Network; or (ii) any form of authorization otherwise permissible under the Rules if the Receiver’s instruction to initiate the individual debit entry is designed by you to be communicated (but not by oral communication) to you via a Wireless Network. You agree to submit such entries in accordance with the technical specifications and formatting requirements set forth in the Rules and as directed by us from time to time. You may not use the WEB Standard Entry Class (SEC) Code in connection with authorizations obtained from customers by mail or verbal telephone communication. The WEB SEC code may not be used to initiate credit entries except for reversals of WEB debit entries.
WEB Entries. If Bank authorizes Client to use the Origination Services to originate WEB Entries, then:
(i) Client will take all actions and obtain all consents and authorizations required under the NACHA Rules to allow Bank to meet its obligations as ODFI of WEB Entries, and you agree to retain the originals of such consents and authorizations for at least two (2) years after expiration, revocation, or termination thereof, or such other timeframe required by the NACHA Rules or Applicable Law;
(ii) Client agrees it has performed or will perform an annual audit that satisfies the NACHA Rules before initiating a WEB Entry; and
(iii) Pursuant to the NACHA Rules, Client will establish and implement commercially reasonable: (A) fraudulent transaction detection systems to screen debit WEB Entries; (B) methods of authentication to verify the identity of Receivers of debit WEB Entries; (C) procedures to verify that the routing number used in the debit WEB Entry is valid; and (D) security technology for communications between Client and Receivers over the internet or wireless networks.
(iv) Each time Client initiates a WEB Entry, in addition to its other representations and warranties under this Agreement, Client warrants that the WEB Entry was screened by its fraudulent transaction detection system and that Client has used commercially reasonable methods to authenticate and verify the Receiver’s identity and to verify that the account number used in the WEB Entry is valid.
WEB Entries. With respect to any WEB Entry that you originate on behalf of yourself or any third party: You must use the WEB standard entry class code to identify all Debit Entries on a consumer’s account originated over the Internet. You must employ a commercially reasonable fraud detection system to screen each Entry, to verify the identity of the Receiver whose account is to be debited, and to verify the accuracy of the Receiver’s depository financial institution’s ABA routing and transit number. You must establish a secure Internet session prior to and during any transmission of banking information, using commercially reasonable security technology that, at a minimum, is equivalent to 128-bit RC4 encryption. You must conduct annual audits to ensure that the financial information that you obtain from consumers is protected by security procedures that include, at a minimum, adequate levels of (i) physical security to protect against theft, tampering, or damage; (ii) personnel and access controls to protect against unauthorized access and use; and (iii) network security to ensure secure capture, storage and distribution of financial information. Upon our request you promptly will provide to us proof that your security audit meets these standards. If you act as Third-Party Sender (as discussed above) for any Web Entry, you must have: (i) established procedures to monitor the creditworthiness of the Originator on an ongoing basis; (ii) established appropriate exposure limits for the Originator (and will review those limits periodically); and (iii) implemented procedures to monitor Entries sent or received by the Originator relative to your exposure limit across multiple settlement dates. [Reference: NACHA Operating Guidelines, Special Topics; “Internet-Initiated Entries”] TEL Entries. With respect to any TEL Entry that you originate on behalf of yourself or any third party: You must obtain the Receiver’s explicit authorization prior to initiating a Debit Entry. If you obtain the Receiver’s authorization verbally, you must either record the Receiver’s Authorization or provide, in advance of the Settlement Date of the Entry, written notice confirming the Authorization. You must provide at least the following information to the Receiver either in verbal conversation or in the written confirmation following the conversation: (i) the date on which the account will be debited; (ii) the amount of the Debit Entry; (iii) the Receiver’s name; (iv) a telephone number that is avail...
WEB Entries. If Bank authorizes Client to use the Origination Services to originate WEB Entries, then: (i) Client will take all actions and obtain all consents and authorizations required under the NACHA Rules to allow Bank to meet its obligations as ODFI of WEB Entries, and you