Remotely Created Payment Order means any payment instruction or order drawn on a person’s account that is created by the payee or the payee’s agent and deposited into or cleared through the check clearing system. The term includes, without limitation, a ‘‘remotely created check,’’ as defined in Regulation CC, Availability of Funds and Collection of Checks, 12 CFR 229.2(fff), but does not include a pay- ment order cleared through an Auto- mated Clearinghouse (ACH) Network or subject to the Truth in Lending Act, 15U.S.C. 1601 et seq., and Regulation Z, 12 CFR part 1026.
Remotely Created Payment Order or “RCPO” means a payment
Remotely Created Payment Order or “RCPO” means a payment instruction or order drawn on a Person’s financial account that is initiated or created by the payee and that does not bear a signature applied, or purported to be applied, by the Person on whose financial account the order is drawn, and which is deposited into or cleared through the check clearing system. For purposes of this definition, unlike a Remotely Created Check, a Remotely Created Payment Order does not originate as a paper-based transaction. A Remotely Created Payment Order is created when a payee directly or indirectly enters financial account and routing numbers into an electronic check template that is converted into an electronic file for deposit into the check clearing system.
Examples of Remotely Created Payment Order in a sentence
The use of a Remotely Created Payment Order (“RCPO”) to obtain money from a consumer in a telemarketing transaction is an illegal method of payment.
For purposes of this definition, unlikely a Remotely Created Check, a Remotely Created Payment Order does not originate as a paper-based transaction.
Defendants Pillonato and Ramsey are permanently restrained and enjoined, whether acting directly or through an intermediary, from debiting or attempting to debit any consumer’s bank or financial account using a Remotely Created Payment Order.
Defaulting Defendant Jones and the Corporate Defaulting Defendants are permanently restrained and enjoined, whether acting directly or through an intermediary, from debiting or attempting to debit any consumer’s bank or financial account using a Remotely Created Payment Order.
More Definitions of Remotely Created Payment Order
Remotely Created Payment Order means any payment instruction or order drawn on a person’s account that is created by the payee or the payee’s agent and deposited into or cleared through the check clearing system. The term includes, without limitation, a “remotely created check.” It also includes any check that is not created by the paying bank and that does not bear a signature applied, or purported to be applied, by the person on whose account the check is drawn.
Remotely Created Payment Order means a written or electronic check, draft, payment instruction, or payment order drawn on a payor’s account, initiated or created by or on behalf of a payee, and deposited into or cleared through the check-clearing system. An account includes
Remotely Created Payment Order or “RCPO” means a payment instruction or order, whether created in electronic or paper format, drawn on a payor’s account that is initiated or created by or on behalf of the payee, and which is deposited into or cleared through the check clearing system. For purposes of this definition, an account includes any financial account or credit or other arrangement that allows checks, payment instructions, or orders to be drawn against it that are payable by, through, or at a bank.
Remotely Created Payment Order means any payment instruction or order drawn on a Person’s account that is created by the payee or the payee’s agent and deposited into or cleared through the check clearing system.
Remotely Created Payment Order means a payment instruction or order drawn on a Person’s financial account that is initiated or created by the payee and that does not bear a signature applied, or purported to be applied, by the Person on whose financial account the
Remotely Created Payment Order. (“RCPO”) means a payment instruction or order
Remotely Created Payment Order or “RCPO” means a payment instruction or order, whether created in electronic or paper format, drawn on a payor’s account that is initiated or created by or on behalf of the payee, and which is deposited into or cleared through the check clearing system. For purposes of this definition, an account includes any financial account or