Common use of Retention of Original Checks Clause in Contracts

Retention of Original Checks. You must securely store the Original Check for fourteen (14) Calendar Days after transmission to us and make the Original Check accessible to us at our request. Upon our request you will be required to deliver to us within two (2) business days the requested Original Check in your possession. If not provided in a timely manner, such amount will be reversed from your Account. Promptly after such period expires, you must destroy the Original Check by first marking it “VOID” and then destroying it by crosscut shredding or another commercially acceptable means of destruction. After destruction of an Original Check, the Image will be the sole evidence of the Original Check. You agree that you will never deposit the Original Check or present the Original Check to us or anyone else for payment. You understand that you are responsible if anyone is asked to make a payment based on an Original Check that has already been paid. RETURNED DEPOSITS

Retention of Original Checks. You must securely store the Original Check for fourteen (14) Calendar Days after transmission to us and make the Original Check accessible to us at our request. Upon our request from time to time, you will be required to deliver to us within two (2) business days Business Days, at your expense, the requested Original Check in your possession. If not provided in a timely manner, such amount will be reversed from your Mobile Deposit Account. Promptly after such period expires, you must destroy the Original Check Check, by first marking it “VOID” and then destroying it by crosscut cross-cut shredding or another commercially acceptable means of destruction. After destruction of an Original Check, the Image will be the sole evidence of the Original Check. You agree that you will never deposit the Original Check or present the Original Check to us or anyone else for payment. You understand that you are responsible if anyone is asked to make a payment based on an Original Check that has already been paid. RETURNED DEPOSITS.