Common use of Check Retention & Destruction Clause in Contracts

Check Retention & Destruction. You understand and agree that all original checks digitally imaged and transmitted to the Credit Union for deposit belong to you and not to the Credit Union. You agree to handle the original checks per the following guidelines and in accordance with this Agreement. • You shall retain the original of all imaged checks that have been deposited using the Mobile Deposit Service for at least 60 days in order to verify deposits to your checking account, or to balance periodic statements, but in no case are you required to retain the original beyond 120 days (the maximum “retention period”); after which, you will properly destroy and dispose of such original checks. • During the retention period, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, theft or reproduction for the purposes of re-presentment for deposit and unauthorized use of information derived from the original checks. • When you destroy and dispose of the original checks pursuant to safe and sound practices, you understand and agree to use a high degree of care when selecting and implementing destruction and disposal procedures and equipment. Among other things, procedures and equipment must be designed to ensure that the original checks are not handled by unauthorized persons and once destroyed the original checks are no longer readable or capable of being reconstructed. • During the retention period, the original checks should be kept in a locking cabinet or safe. Mobile Deposit transmissions will be acknowledged as received electronically. Your electronic transmission is subject to proof and verification. In the event of a deposit dispute when the original check is still in existence, you agree to promptly provide the check upon request by the Credit Union.

Check Retention & Destruction. You understand and agree that all original checks digitally imaged and transmitted to the Credit Union for deposit belong to you and not to the Credit Union. You agree to handle the original checks per the following guidelines and in accordance with this Agreement. •  You shall retain the original of all imaged checks that have been deposited using the Mobile Deposit Service for at least 60 days in order to verify deposits to your checking account, or to balance periodic statements, but in no case are you required to retain the original beyond 120 days (the maximum “retention period”); after which, you will properly destroy and dispose of such original checks. •  During the retention period, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, theft or reproduction for the purposes of re-presentment for deposit and unauthorized use of information derived from the original checks. •  When you destroy and dispose of the original checks pursuant to safe and sound practices, you understand and agree to use a high degree of care when selecting and implementing destruction and disposal procedures and equipment. Among other things, procedures and equipment must be designed to ensure that the original checks are not handled by unauthorized persons and once destroyed the original checks are no longer readable or capable of being reconstructed. •  During the retention period, the original checks should be kept in a locking cabinet or safe. Mobile Deposit transmissions will be acknowledged as received electronically. Your electronic transmission is subject to proof and verification. In the event of a deposit dispute when the original check is still in existence, you agree to promptly provide the check upon request by the Credit Union.

Check Retention & Destruction. You understand and agree that all original checks digitally imaged and transmitted to the Credit Union for deposit items belong to you and not to the Credit Union. You agree to handle the original checks per the following guidelines Union and that those items shall be handled in accordance with this Agreement. • After receipt by the Credit Union of any transmission by you of imaged items for deposit to your account, the Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Your electronic transmission is subject to proof and verification. You shall retain the original of all imaged checks items that have been deposited using the via Mobile Deposit Service for at least 60 days a reasonable period of time in order to verify deposits to your checking account, settlement and credit or to balance periodic statements, but in no case are you required to retain beyond ninety (90) days from the original beyond 120 days (the maximum “retention period”); after which, you will date processed and shall properly destroy and dispose of such original checkschecks after such time. • During When you destroy and dispose of, the retention periodoriginal checks pursuant to the requirements of this Agreement, you understand and agree that you must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.) During the period that you maintain the original checks, you understand and agree that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, theft : • Theft or reproduction of the original checks for the purposes of re-presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture service), and • unauthorized use of information derived from the original checks. • When you destroy and dispose of the original checks pursuant to safe and sound practices, you understand and agree to use a high degree of care when selecting and implementing destruction and disposal procedures and equipment. Among other things, procedures and equipment must be designed to ensure that the original checks are not handled by unauthorized persons and once destroyed the original checks are no longer readable or capable of being reconstructed. • During the retention period, the original checks should be kept in a locking cabinet or safe. Mobile Deposit transmissions will be acknowledged as received electronically. Your electronic transmission is subject to proof and verification. In the event of a deposit dispute when the original check is still in existence, you agree to promptly provide the check upon request by the Credit Union.