Common use of Prohibited Checks Clause in Contracts

Prohibited Checks. You agree to photograph and deposit only “checks” as defined in the Federal Reserve’s Regulation CC, 12 C.F.R. Part 229. You also agree that you will not photograph and attempt to deposit any of the following: • Checks drawn on financial institutions located outside of the U.S; • Checks not payable in U.S. dollars; • Checks dated more than six (6) months prior to the date of deposit or post-dated (made payable at some point in the future); • Checks payable to any person or entity other than you (e.g., payable to another party and then endorsed to you); • Checks payable to you and another party who is not joint owner on the Account; • Checks that contain evidence of alteration, or that you know or suspect, or should know or suspect, are fraudulent or otherwise not authorized by the owner of the account on which the check is drawn; • Checks that have been previously deposited through the Mobile Deposit Service or deposited through a similar service at another financial institution; and, • Travelers checks, savings bonds, money orders or postal money orders.