Common use of Receipt of Deposit Clause in Contracts

Receipt of Deposit. All images processed for deposit through Mobile Deposit will be treated as “deposits” under your current Account Agreement with us and will be subject to all terms of the Account Agreement. When the Bank receives an image, the Bank will confirm receipt via email to you. The Bank shall not be deemed to have received the image for deposit until the Bank has confirmed receipt to you. Confirmation of receipt does not mean that the image contains no errors nor does it mean confirmation that the image has been accept by us and/or deposited into your account. The Bank is not responsible for any image that the Bank does not receive. Following receipt, we may process the image by preparing a “substitute check” or clearing the item as an image. The check will be deposited to your account in accordance with the Bank’s normal business practice. The timing and manner in which any check is deposited, cleared, presented for payment and collected shall be in the Bank’s sole discretion, subject to the Agreements governing your account. The Bank reserves the right, at our sole and absolute discretion, to reject any image for remote deposit into your account. The Bank will notify you of rejected images.

Receipt of Deposit. All images processed for deposit through Mobile Deposit will be treated as “deposits” under your current Account Agreement with us and will be subject to all terms of the Account Agreement. When the Bank receives an image, the Bank will confirm receipt via email to you. The Bank shall not be deemed to have received the image for deposit until the Bank has confirmed receipt to you. Confirmation of receipt does not mean that the image contains no errors errors, nor does it mean confirmation that the image has been accept by us and/or deposited into your account. The Bank is not responsible for any image that the Bank does not receive. Following receipt, we may process the image by preparing a “substitute check” or clearing the item as an image. The check will be deposited to your account in accordance with the Bank’s normal business practice. The timing and manner in which any check is deposited, cleared, presented for payment and collected shall be in the Bank’s sole discretion, subject to the Agreements governing your account. The Bank reserves the right, at our sole and absolute discretion, to reject any image for remote deposit into your account. The Bank will notify you of rejected images.