Is It Legal?
Checks Only offers you a simple, safe,
secure, and easy way to accept instant check payments online, by phone, by fax, and via
email! "Instant Check Payments" or Check demand drafts, or
"drafting" funds from a second party's checking account, have been a method of
payment for more than 8 years. Online, Fax, E-Mail, and Telephone checks (pre-authorized
paper bank drafts) are completely legal. The primary requirement is that the checking
account holder (your customer) must give you verbal or written pre-authorization, such as
faxing you their check, entering their check data online or via email, or calling you up
and giving you the check data over the phone. Once you've received pre-authorization, you
really don't even need a signature on the paper-draft, just as you don't need a signature
on a phoned in credit card order. Paper drafts are explicitly established as a legal
method for payment as provided in: Uniform Commercial Code, Title 1, Section 1-201 [39]
and Title 3, Sections 3-104, 3-403, 2-403 Code of Federal Regulations, Title 12 Chapter
II, Part 210 Regulation J, Federal Reserve Bank, Part 2, Sections 4a-201 to 4a-212. The
Federal Trade Commission in late 1995 proposed rules that became law in January 1996
(Regulation 16CFR Part 310) that requires businesses who take checks over the phone to
have a "verification" procedure in place. The email confirmations sent out by
our system satisfy this requirement.
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