Common use of Deposit of check using mobile banking device Clause in Contracts

Deposit of check using mobile banking device. If a mobile banking device is used to deposit a check in an account with us: a. The account must be an approved deposit account. b. The check must be drawn on a United States bank and not a foreign bank, must be payable in United States currency, must be endorsed by you, must contain above or below your signature the words “For bank mobile deposit only” or similar wording and may not be a Treasury check, a cashier’s check, a traveler’s check, a returned check, a substitute check, a money order, a savings bond or a check that is dated more than six months before the date the deposit is made or after the date the deposit is made. c. If the check is payable to you and someone else, the account must be open in both your name and the other person’s name. d. You must retain the original of the check for at least 60 days after the date the deposit is made. e. The deposit is subject to verification by us and adjustment upon review by us. f. The check will not be deemed to have been received by us until we have confirmed that an electronic image of the check has been captured and processed by us on our check image processing system. g. The face amount of the check may be subject to limitations by us in our sole discretion on the dollar amount, and the total of the face amount of the check and the face amounts of all other checks deemed to have been received by us for deposit in the account using a mobile banking device on the date the check is deemed to have been received by us may be subject to limitations by us in our sole discretion on the dollar amount. h. In our sole discretion, we may reject the deposit, whether before or after we are deemed to have received the check. i. If we are deemed to have received the check by 3:00 p.m. eastern United States time on any day Monday through Friday that is a business day of ours, the deposit will generally be deemed to have been made on that day; otherwise it will generally be deemed to have been made on our first business day after that day. j. Generally the funds represented by the check will be available for withdrawal from the account two of our business days after the day the deposit is deemed to have been made although they may not be available for withdrawal from the account for up to seven of our business days after that day. k. You will be representing and warranting to us that the check is owned by you, is in your possession, is not drawn on a foreign bank, is an original and not a duplicate, is not counterfeit, has not been altered or fraudulently issued or procured, contains each endorsement necessary for its transfer to us, is not being transmitted to us other than for deposit in the account and will not be further negotiated, deposited, presented for payment or imaged. l. You will be assuming all obligations that we have, and making all warranties that we make, under any federal check collection regulation and assuming all obligations that you would have, and making all warranties that you would make, under any applicable Uniform Commercial Code if the check had been endorsed and deposited to the account by you or on your behalf in person at any of our offices. m. To the extent that any provision of any applicable Uniform Commercial Code would apply to the check if the check had been endorsed and deposited to the account by you or on your behalf in person at any of our offices, the provision will apply to the check except to the extent that the provision is incompatible with any provision of this agreement. n. You must indemnify us against any liability or expense that is incurred by, imposed on or asserted against us as a result of any claim arising under any federal check collection regulation or any provision of any applicable Uniform Commercial Code relating to the deposit or the check, the failure of the check to comply with any requirement described in this section or any breach or alleged breach of any representation or warranty described in this section.

Deposit of check using mobile banking device. If a mobile banking device is used to deposit a check in an account with us: a. The account must be an approved deposit account. b. The check must be drawn on a United States bank and not a foreign bank, must be payable in United States currency, must be endorsed by you, must contain above or below your signature the words “For bank mobile deposit only” or similar wording and may not be a Treasury check, a cashier’s check, a traveler’s check, a returned check, a substitute check, a money order, a savings bond or a check that is dated more than six months before the date the deposit is made or after the date the deposit is made. c. If the check is payable to you and someone else, the account must be open in both your name and the other person’s name. d. You must retain the original of the check for at least 60 days after the date the deposit is made. e. The deposit is subject to verification by us and adjustment upon review by us. f. The check will not be deemed to have been received by us until we have confirmed that an electronic image of the check has been captured and processed by us on our check image processing system. g. The face amount of the check may be subject to limitations by us in our sole discretion on the dollar amountnot exceed $2,500, and the total of the face amount of the check and the face amounts of all other checks deemed to have been received by us for deposit in the account using a mobile banking device on the date the check is deemed to have been received by us may be subject to limitations not exceed $3,000 or, if we regard the account as a new account, any smaller amount determined by us in our sole discretion on the dollar amountus. h. In our sole discretion, we may reject the deposit, whether before or after we are deemed to have received the check. i. If we are deemed to have received the check by 3:00 p.m. eastern United States time on any day Monday through Friday that is a business day of ours, the deposit will generally be deemed to have been made on that day; otherwise it will generally be deemed to have been made on our first business day after that day. j. Generally the funds represented by the check will be available for withdrawal from the account two of our business days after the day the deposit is deemed to have been made although they may not be available for withdrawal from the account for up to seven of our business days after that day. k. You will be representing and warranting to us that the check is owned by you, is in your possession, is not drawn on a foreign bank, is an original and not a duplicate, is not counterfeit, has not been altered or fraudulently issued or procured, contains each endorsement necessary for its transfer to us, is not being transmitted to us other than for deposit in the account and will not be further negotiated, deposited, presented for payment or imaged. l. You will be assuming all obligations that we have, and making all warranties that we make, under any federal check collection regulation and assuming all obligations that you would have, and making all warranties that you would make, under any applicable Uniform Commercial Code if the check had been endorsed and deposited to the account by you or on your behalf in person at any of our offices. m. To the extent that any provision of any applicable Uniform Commercial Code would apply to the check if the check had been endorsed and deposited to the account by you or on your behalf in person at any of our offices, the provision will apply to the check except to the extent that the provision is incompatible with any provision of this agreement. n. You must indemnify us against any liability or expense that is incurred by, imposed on or asserted against us as a result of any claim arising under any federal check collection regulation or any provision of any applicable Uniform Commercial Code relating to the deposit or the check, the failure of the check to comply with any requirement described in this section or any breach or alleged breach of any representation or warranty described in this section.