Deposit Errors Clause Samples
The Deposit Errors clause defines the procedures and responsibilities for addressing mistakes related to deposits, such as incorrect amounts being credited or debited to an account. Typically, this clause outlines the steps a party must take to notify the other party of an error, the timeframe for reporting such errors, and the process for correcting the mistake, which may include adjusting account balances or issuing refunds. Its core practical function is to ensure that both parties have a clear and fair method for resolving deposit discrepancies, thereby minimizing disputes and maintaining trust in financial transactions.
Deposit Errors. You agree to notify us, through Synapse, of any suspected errors regarding items deposited through RDC right away, and in no event later than 40 days after the applicable account statement is sent or made available to you. Unless you notify us within 40 days, such Statement regarding all deposits made through RDC shall be deemed correct, and you are prohibited from bringing a claim against us for such alleged error.
Deposit Errors. If we mistakenly credit your account(s) for funds to which you are not the rightful owner, even if such mistake is solely attributable to our actions, we will deduct those funds from your account(s), even if this causes your account(s) to be overdrawn. In the alternative, in order to recover such funds, we may exercise our right of setoff against any other account owned solely or jointly by you under our statutory lien rights, common law lien rights, or contractual lien rights provided for herein.
Deposit Errors. You agree to notify Synapse Brokerage of any suspected errors regarding items deposited through the Remote Deposit Capture service right away, and in no event later than 40 days after the applicable account statement is sent or made available to you. Unless you notify us within 40 days, such statement regarding all deposits made through the Remote Deposit Capture service shall be deemed correct, and you are prohibited from bringing a claim against us for such alleged error. Please be aware that checks deposited through the Remote Deposit Capture service are not electronic fund transfers and are not subject to Appendix A.
Deposit Errors. You agree to notify us, through Synapse, of any suspected errors regarding items deposited through Mobile Deposit right away, and in no event later than 40 days after the applicable account statement is sent or made available to you. Unless you notify us within 40 days, such Statement regarding all deposits made through Mobile Deposit shall be deemed correct, and you are prohibited from bringing a claim against us for such alleged error.