Res 2006-035 - Laserfiche WebLink

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I 2. Transaction Processing for All Electronic Check Services You will initiate all POS Transactions as follows. 2.1 You will use only a POS Terminal approved by us, and only one that is properly and actively linked to the Bank System. 2.2 You will accept and process an Electronic Check Service only at a POS for goods or services delivered at the time of the POS Transaction. You will accept and process only Checks that have not been previously negotiated or voided. You will not accept or process Ineligible Checks. 2.3 You will obtain permission from the consumer prior to submitting a check for any conversion service. You will inspect the check and determine that the consumer's name and check register number are pre-printed on the check. You will further review the Consumer's driver's license, or other identification card issued by a state, and determine that: (a) the Consumer is the same person as the person whose picture appears on the driver's license or identification card; and (b) the Consumer's name on the driver's license or identification card is the same as the Consumer's name preprinted on the check. If you have imaging equipment you also: (c) will inspect the check and determine that the Consumer's name, residence address and residence phone number are imprinted on the check. In the event the Consumer's residence address and residence phone number are not preprinted on the check, you will write such information on the check legibly prior to processing the POS transaction. (d) must ensure that all transactions are imaged. Only after receiving permission from the Consumer, you will use the POS Terminal's Check-reader device to capture information from the Check (e.g., routing number, Consumer's Account number, Check number). Information that is capable of being captured by the POS Terminal Check- reader device without manual input will not be keyed in by you. 2.4 L~ ~I 2.5 You will key in the Transaction amount and any other information as prompted by the POS Terminal. You will include any applicable tax with the amount of the POS Transaction. 2.6 You must obtain Authorization for each POS Transaction before you complete the transaction. [NOTE: You will not receive Authorization for POS Transactions that exceed a preassigned dollar limit. The dollar limit is set on a number of factors, including Merchant's Category Code. You can ask for more details about this limit from a Bank of America sales officer.] 5