Common use of Electronic Check Conversion Transactions Clause in Contracts

Electronic Check Conversion Transactions. A check you write can also be converted into an electronic funds transfer under certain circumstances such as: (1) 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. To obtain your authorization for these transactions, the merchant or service provider may post a sign, include a notice in a written communication they send to you, obtain your signature on a document or request your permission by phone or over the internet. We are not responsible if the merchant or other payee does not notify you that a transaction will be processed as an electronic funds transfer. (2) When you present your check to a merchant or provider of services, they may request that you authorize them to charge you a fee if your check is returned for insufficient funds or they may provide you with notice of this fee in person, by mail or other means. This electronically assessed fee is an electronic funds transfer. We are not responsible if the merchant or other payee charges you a fee for an electronic funds transfer.

Electronic Check Conversion Transactions. A check you write can also be converted into an electronic funds transfer under certain circumstances such as: (1) 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. To obtain your authorization for these transactions, the merchant or service provider may post a sign, include a notice in a written communication they send to you, obtain your signature on a document document, or request your permission by phone or over the internet. We are not responsible if the merchant or other payee does not notify you that a the transaction will be processed as an electronic funds transfer. (2) When you present your check to a merchant or provider of services, they may request that you authorize them to charge you a fee if your check is returned for insufficient funds funds, or they may provide you with notice of this fee in person, by mail or other means. This electronically assessed fee is an electronic funds transfer. We are not responsible if the merchant or other payee charges you a fee for an electronic funds transfer.