We’re increasing the speed with which your check payments are posted and credited to your account. When you pay with a check you authorize us either to use information from your check to make a one-time electronic transfer from your account or to process the payment as a check transaction.
Your payment will be posted immediately and the amount you authorized on your check may be withdrawn from your account as soon as the same day we process your payment and you will not receive the original check back from your financial institution.
What happens when my check is converted to an electronic transaction?
We use information on the check and “convert” the check to an electronic transaction based on that information. Electronic transactions are more efficiently processed than paper checks, and that helps keep our costs low.
Why isn’t the check listed on my bank statement?
Since your payment is processed as an electronic transaction, it may be listed in the section of your bank statement with the other electronic debits. The description of the electronic debit includes information to help you easily identify your payment. Bank statements typically include only the serial number, paid date, and amount for checks. Since converted items are electronic debits, you may be able to see the payee and a transaction description in your statement.
May I get my original check back?
No. For your protection we destroy the original check. We want the original check presented for payment only once, through an ACH debit.
Does this mean you debit my account each month, and I don’t have to write a check to pay my bill?
No, this is not a recurring debit program. We need your check to initiate each payment. You still control the timing of a payment by paying with a check.
What authority allows you to convert my check?
Pursuant to regulatory rules (NACHA and Regulation E), we notified you via email of our intention to clear your check electronically.