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Remotely created check

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Definition Edit

A remotely created check (RCC) (also known as a demand draft, telecheck, preauthorized draft, paper draft, or digital check) is

[a] check that is drawn on a customer account at a financial institution, is created by the payee, and does not bear a signature in the format agreed to by the paying financial institution and customer.[1]

References Edit

  1. Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.

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