Substitute Check definition

Substitute Check means a paper reproduction of an Item that satisfies the requirements and definition of "substitute check" set forth in Regulation CC.

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Substitute Check means a paper check or item created from an electronic image in accordance with Regulation CC.

Substitute Check has the meaning given to it Section 3(16) of the Check Clearing for the 21st Century Act (“Check 21”), P.L. 108-100, 12 U.S.C. § 5001(16).

Examples of Substitute Check in a sentence

• Nevertheless, if a Substitute Check is received for deposit, you will be responsible for any losses you or another person suffers relating to that Substitute Check.

• Unless specifically permitted to do so, you may not deposit any Substitute Check that has not been previously handled by a bank in the collection process.

• If any item you deposit through the Remote Deposit Capture Services is dishonored or otherwise returned unpaid, we will return the item to you in the form of a Substitute Check and charge back your account for the amount of the item plus any applicable fees in accordance with your the Credit Union Membership Agreement.

• This means you cannot deposit a Substitute Check you create, or one that is created by another person, unless we enter into an agreement to do so.

• A returned-item Substitute Check may be re-deposited only in person by taking it to a The Credit Union branch.

More Definitions of Substitute Check

Substitute Check means a paper reproduction of an Original Check that: (a) contains an image of the front and back of the Original Check; (b) bears a MICR line that contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured; (c) conforms in paper stock, dimension, and otherwise; and (d) is suitable for automated processing in the same manner as the Original Check.

Substitute Check means a paper reproduction of an Original Check that: (1) contains an image of the front and back of the Original Check; (2) bears a MICR line that, except as provided under the applicable Standard, contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured;

Substitute Check means a paper reproduction of an

Substitute Check means a paper reproduction of an original paper check that meets the definition of a “substitute check” in the "Check Collection for the 21 Century Act as implemented by Regulation CC of the Federal Reserve Board.

Substitute Check means a paper reproduction of an Original Check that: (1) contains an image of the front and back of the Original Check; (2) bears a MICR line that, except as provided under the applicable Standard, contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured; (3) conforms in paper stock, dimension, and otherwise with ANS X9.100-140 (unless the Federal Reserve Board by rule or order determines that a different standard applies); and (4) is suitable for automated processing in the same manner as the Original Check.

Substitute Check refers to the definition provided in Regulation CC – Availability of Funds and Collection of Checks: a paper reproduction of an original check that – (1) contains an image of the front and back of the original check; (2) bears a MICR line that, except as provided under ANS X9.100-140, contains all the information appearing on the MICR line of the original check at the time that the original check was issued and any additional information that was encoded on the original check's MICR line before an image of the original check was captured; (3) conforms in paper stock, dimension, and otherwise with ANS X9.100-140; and (4) is suitable for automated processing in the same manner as the original check.

Substitute Check means a paper reproduction of the original Check that meets all requirements of Applicable Law.