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 Customer’s current Deposit Account Agreement and Disclosure with us and will be subject to all terms of the Deposit Account Agreement and Disclosure. When we receive an image, we will confirm receipt via email to Customer. We shall not be deemed to have received the Electronic Item for deposit until we have confirmed receipt to Customer by email. Confirmation does not mean that the image contains no errors. Bank is not responsible for any image that Bank does not receive. Following receipt, Bank may process the image by preparing a Substitute Check or clearing the item as an image. Bank reserves the right, at Bank’s sole and absolute discretion, to reject any Electronic Item for remote deposit into Customer’s Account. Customer should check the status of Customer’s items within Online Banking.

Appears in 5 contracts

Samples: Business Online and Mobile Banking Agreement and Disclosure, Master Treasury Management Services Agreement, Business Online and Mobile Banking Agreement and Disclosure

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