Definition[]
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[]
- ↑ Information Society IT Examination Handbook, Retail Payment Systems, App. B, Glossary.