RCK Entry definition

RCK Entry means an “RCK Entry” as defined in the Rules.
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RCK Entry means an "Returned ChecK Entry" as defined in the Rules.
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RCK Entry means a re-presented check entry involving a check drawn on a consumer account in an amount less than $2,500 that was previously returned for insufficient funds, uncollected funds, or similar reason that you want to collect through the ACH network, as more specifically defined in the ACH Rules.
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Examples of RCK Entry in a sentence

  • You must retain a copy of the front and back of the Check to which the RCK Entry relates for 7 years from the Effective Date.

  • The related item of the RCK Entry has undergone presentation no more than once through the check collection mechanism and only once as an RCK Entry.

  • If you send us debit the entry to the RDFI's ACH operator by midnight of the second banking entries using the RCK entry class code (each an "RCK Entry"), you day following the banking day of receipt of the presentment notice for further represent and warrant to us and agree that: the returned item to which the entry relates;and (i) The entry is sent to collect a check or draft drawn on (xvi)You will comply with the rules for RCK Entries.

  • In the event that Customer initiates an RCK Entry to Bank for Check collection purposes, Customer agrees that such RCK Entry will comply with all provisions of this Agreement and applicable Rules and will enter into a separate addendum with Bank.

  • Nacha Rules allow Customer to initiate an ACH Entry to collect certain Checks that have been returned unpaid for insufficient or uncollected funds ("RCK Entry").

  • Company will initiate an RCK Entry only if the check meets the eligibility requirements in accordance with the Rules.

  • With respect to any RCK Entry that you originate on behalf of yourself or any third party: You must only originate an RCK Entry with respect to a Check in an amount not to exceed Two Thousand Five Hundred Dollars ($2,500.00) drawn on a consumer account and that has been returned to you for insufficient or uncollected funds, and that has been presented to you not more than one hundred eighty (180) days before the date that you originate the RCK Entry.

  • With respect to all RCK Entries, Customer hereby makes each of the representations, warranties and covenants of an Originator of RCK Entries as set forth in the Rules regarding RCK Entries as of the date of this Agreement and each time it initiates a RCK Entry.

  • You will retain a copy of the front and back of each Check for at least seven (7) years from the Settlement Date of the respective RCK Entry, and you agree to provide a copy of the original Check to us promptly upon our request therefor.

  • For RCK Entries, an Entry returned for insufficient or uncollected funds may be reinitiated as long as the item has been presented no more than one time in its physical form and no more than one time as an RCK Entry.