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Can a licensee delay the autoclose of a deferred presentment transaction?

April 26, 2017autoclose Deferred delay Licensee Presentment transaction

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Can a licensee delay the autoclose of a deferred presentment transaction?

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Yes. A licensee may extend the maturity date in the Veritec database if there is an agreement to extend the deferred presentment service agreement. Barring such an agreement, all checks would have to be presented on the maturity date.