Electronic Check Conversion definition

Electronic Check Conversion will mean a one-time electronic funds transaction where a check, draft or similar paper instrument is used as a source of information to initiate the transaction.
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Electronic Check Conversion and means the process or system by which a paper check is converted to an electronic transaction.
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Electronic Check Conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking Account using information from your check to pay for purchases or pay bills. Electronic check conversion is a payment process in which a merchant (after obtaining your authorization) uses your check to gather routing, Account, and check number information to initiate a one-time EFT. This type of EFT transaction involving a consumer account is covered by the EFTA. A description of the transaction will appear on your statement.
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Examples of Electronic Check Conversion in a sentence

  • APPLIES TO CONSUMERS ONLY Electronic Check Conversion You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or to pay bills.


More Definitions of Electronic Check Conversion

Electronic Check Conversion occurs when you authorize a merchant or other payee to make a one-time electronic payment from your checking Account using information from your check to pay for purchases or to pay bills via ACH or other electronic means.
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Electronic Check Conversion is a process in which your Personal Account check is used as a source of information for the check number, bank Routing/Transit number and account number. The information is then used to make a one-time electronic payment from your Account or an “electronic fund transfer” from your Account.
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Electronic Check Conversion. We do not impose a fee for each single entry withdrawal from your account. DIS-5075 Rev 8/25/2016
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Electronic Check Conversion means that I can authorize a check, draft or similar paper instrument to be used as
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Related to Electronic Check Conversion

  • Electronic Coupon means an electronic flight coupon or other value document held in our database.

  • Approved Electronic Communication means each notice, demand, communication, information, document and other material transmitted, posted or otherwise made or communicated by e-mail, e-fax, the Pinnacle System, or any other equivalent electronic service agreed to by Agent, whether owned, operated or hosted by Agent, any Lender, any of their Affiliates or any other Person, that any party is obligated to, or otherwise chooses to, provide to Agent pursuant to this Agreement or any Other Document, including any financial statement, financial and other report, notice, request, certificate and other information material; provided that Approved Electronic Communications shall not include any notice, demand, communication, information, document or other material that Agent specifically instructs a Person to deliver in physical form.

  • Electronic Copy has the meaning specified in Section 11.17.

  • Electronic component means an item that operates by controlling the flow of electrons or other electrically charged particles in circuits, using interconnections of electrical devices such as resistors, inductors, capacitors, diodes, switches, transistors, or integrated circuits. The term does not include structural or mechanical parts of an assembly containing an electronic component, and does not include any high performance magnets that may be used in the electronic component.

  • Electronic communication service means a custodian that provides to a user the ability to send or receive an electronic communication.

  • Approved Electronic Communications means any notice, demand, communication, information, document or other material that any Credit Party provides to Administrative Agent pursuant to any Credit Document or the transactions contemplated therein which is distributed to the Agents or to the lenders by means of electronic communications pursuant to Section 10.1(b).

  • Electronic Notice shall be deemed written notice for purposes of this Section 13 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

  • Electronic Funds Transfer means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers.

  • Electronic Bonding is a real-time and secure electronic exchange of data between information systems in separate companies. Electronic Bonding allows electronic access to services which have traditionally been handled through manual means. The heart of Electronic Bonding is strict adherence to both International and National standards. These standards define the communication and data protocols allowing all organizations in the world to exchange information.

  • Electronic communication device means any mode of electronic communication, including but not limited to computers, cell phones, PDAs, or the internet.

  • Electronic Chattel Paper means chattel paper evidenced by a record or records consisting of information stored in an electronic medium.

  • Electronic communications system means any wire, radio, electromagnetic, photooptical or photoelectronic facilities for the transmission of wire or electronic communications, and any computer facilities or related electronic equipment for the electronic storage of such communications;

  • Electronic Ticket means the Itinerary/Receipt issued by us or on our behalf, the Electronic Coupons and, if applicable, a boarding document.

  • electronic communications service means a service normally provided for remuneration which consists wholly or mainly in the conveyance of signals on electronic communications networks, including telecommunications services and transmission services in networks used for broadcasting, but exclude services providing, or exercising editorial control over, content transmitted using electronic communications networks and services; it does not include information society services, as defined in Article 1 of Directive 98/34/EC, which do not consist wholly or mainly in the conveyance of signals on electronic communications networks;