Draft Check definition

Draft Check is a paper check drawn on your Account that is created through the Bill Pay service. It contains the checking account number and bank routing number of the Pay-From Account. Funds represented by a Draft Check are not withdrawn from your Account until the Payee cashes the check.
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Draft Check means a payment made by a check payable from your Wings Financial Credit Union checking account.
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Draft Check. For check payments, the process date is chosen based on past history and location of payee. The Subscriber’s checking and routing number are printed on the check so the funds will not be withdrawn from your account until the payee cashes it. Please allow 5-10 business days for it to arrive and post. • In some cases for payments that are scheduled to be sent by check; if the payee accepts credit cards payments, iPay has formed partnerships with companies such as “Noventis” that allows them to electronically deliver payments to such payees via a virtual MasterCard. If this happens the funds will be debited from your account on the process date and sent electronically via the virtual card. In some cases these payees will decline the virtual payment and the payment is then sent by a check drawn off of “Noventis” or the participating partner. • All items will be sent by ACH if available. If a check payee is merged to electronic before it process, the payment will still go out as a check. Future payments will be electronic unless they exceed the predetermined limit. • Predetermined limit for Bank of Hillsboro bill pay customers is $10,000.00. If you schedule a payment greater it will revert to a check requiring you to enter the payees address. Recurring Payments - When a recurring payment is processed, it is automatically rescheduled by the system. Based upon your selected frequency settings for the payment, a payment date is calculated for the next occurrence of the payment. If the calculated payment date is a non-business date (generally weekends and certain holidays); it will come out on the business day before. An address for the ▇▇▇▇▇▇ will always be required when setting up a recurring payment. Skipped occurrences cannot be resumed.
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Examples of Draft Check in a sentence

  • You will be required to enter the Payee's mailing address for all recurring payments in the event the payment must be sent as a Draft Check.

  • Rush payments, which may only be sent to merchant Payees, are sent via Draft Check.

  • Payment methods may include payments via Draft Check, electronic payments, or virtual one-time card payments.

  • Your gift or donation is made via Draft Check and, like all Bill Pay payments made by Draft Check, you will need to provide the Payee's mailing address to which to send the payment, and the funds are not withdrawn from your Pay-From Account until the Payee cashes the check.

  • For payments made via Laser Draft Check, the funds will be debited from your account once the payee deposits the check.

  • Draft Check one: ☐ I certify to the best of my knowledge and belief, that the above referenced project complies with the ▇▇▇▇▇-▇▇▇▇▇ Act, and that all laborers and mechanics employed by contractors and subcontractors during the above referenced period were paid wages at rates not less than those listed on the Wage Determination for the specific county, for the specific period, on ▇▇▇.▇▇▇, and that all applicable provisions of the ▇▇▇▇▇-▇▇▇▇▇ Act have been met.

  • Subscription 23 May 2022 24 May 2022 25 May 2022 26 May 2022 27 May 2022 30 May 2022 31 May 2022 Date 1 Jun 2022 2 Jun 2022 6 Jun 2022 7 Jun 2022 8 Jun 2022 9 Jun 2022 10 Jun 2022 Made Payable by Transfer Cashier Check Personal Check Draft Check No ………………………………….……….…..

  • In this case, we will send a paper check either drawn off our clearing account (Corporate Check) or drawn off your account (Draft Check).

  • These payment methods may include, but may not be limited to, ACH, a Draft Check, or a Corporate Check.

  • Payments made through a Draft Check will be debited from your account when the check is processed by the Payee and the check will arrive on or before your Scheduled Payment Date.