Common use of Deposits and Endorsements Clause in Contracts

Deposits and Endorsements. You may make deposits in person at the Bank or by mail. The Bank may, in its sole discretion, refuse, return, or limit the amount of any deposit to your account for any reason, including, but not limited to, checks with multiple payees or endorsements, substitute checks or checks bearing a substitute check legal equivalence statement, or checks which we have reason to doubt are collectible. We are not responsible for transactions by mail until we actually record them. We will consider and record all transactions after our daily cut-off time posted at the branch as if initiated on the next business day we are open. The Bank will chargeback or place a hold on your account, or any other accounts of yours at the Bank, for any item that is returned unpaid or dishonored for any reason, including claims that an item was altered, forged, unauthorized, has a missing signature, or should not have been paid for any reason. The Bank may, but does not have to, endorse a deposit item for you. The Bank is required to place its endorsement stamp in specific positions on the back of a check. You must place an endorsement on the back of a check only in an area within 1.5 inches from the top edge of the check which is on the left side, looking at the check from the front. You are responsible and liable for any loss or damage that the Bank may suffer because you endorse the check in any other location or because there is any other mark in any other area on the back of the check when you deposit it, which then causes a delay in the processing of the check. The Bank has the right to refuse to accept a check for deposit when the back of the check is unreasonably obscured or marked in any way, except for a proper endorsement. If you deposit an electronically created item or a remotely created check (i.e., a check created when an accountholder authorizes a payee to draw a check on the account, but instead of the accountholder’s actual signature, the check identifies that the accountholder authorized the check), you guarantee that the check was authorized by the accountholder for the amount shown.

Deposits and Endorsements. You may make deposits in person at the Bank or by mail. The Bank may, in its sole discretion, refuse, return, or limit the amount of any deposit to your account for any reason, including, but not limited to, checks with multiple payees or endorsements, substitute checks or checks bearing a substitute check legal equivalence statement, or checks which we have reason to doubt are collectible. We are not responsible for transactions by mail until we actually record them. We will consider and record all transactions after our daily cut-off time posted at the branch as if initiated on the next business day we are open. The Bank will chargeback or place a hold on your account, or any other accounts of yours at the Bank, for any item that is returned unpaid or dishonored for any reason, including claims that an item was altered, forged, unauthorized, has a missing signature, or should not have been paid for any reason. The Bank may, but does not have to, endorse a deposit item for you. The Bank is required to place its endorsement stamp in specific positions on the back of a check. You must place an endorsement on the back of a check only in an area within 1.5 inches from the top edge of the check which is on the left side, looking at the check from the front. You are responsible and liable for any loss or damage that the Bank may suffer because you endorse the check in any other location or because there is any other mark in any other area on the back of the check when you deposit it, which then causes a delay in the processing of the check. The Bank has the right to refuse to accept a check for deposit when the back of the check is unreasonably obscured or marked in any way, except for a proper endorsement. If you deposit an electronically created item or a remotely created check (i.e., a check created when an accountholder authorizes a payee to draw a check on the account, but instead of the accountholder’s actual signature, the check identifies that the accountholder authorized the check), you guarantee that the check was authorized by the accountholder for the amount shown.