NSF Check Re-Presentment
- Eligible Items
- Checks drawn on a consumer account.
- Notice given to Consumer that any returned Check will be represented
electronically
- Be a negotiable demand draft drawn on or payable through or at a participating
Bank other than a Federal ReserveBank or Federal Home Loan Bank.
- Be in an amount less than $2,500
- Indicate on the face of the document "Returned for insufficient funds
or uncollected funds"
- Less than 180 days old
- Be an item within the meaning of Revised Article 4 of the Uniform
Commercial Code (1990 Official Text):
Ineligible Items
Items that are ineligible for transmission as represented check entries include,
but are not limited to:
- Non-cash items (as defined by Section 229.2(u) of Federal Reserve Regulation
CC);
- Drafts drawn on the Treasury of the United States) a Federal Reserve Bank,
or a Federal Home Loan Bank;
- Drafts drawn on a state or local government that are not payable through
or at a Participating DFI;
- United States Postal Service money orders;
- Items payable in a medium other than United States currency;
- Items which are third party items; and
- Demand drafts and third party drafts that do not contain the signature of
the Receiver.