MRDC definition
Examples of MRDC in a sentence
To use MRDC, you must agree to the service provider’s terms and conditions which are not part of the Agreement.
The MRDC terms and conditions, including any applicable fees, will be provided to you and you must read and accept them when you sign up for MRDC.
The MRDC process requires you to submit an image of the check, enter the U.S. dollar amount of the check, and endorse the check as directed.
MRDC is provided by a third-party money transfer service provider.
Generally, you will not have access to the money you deposit using MRDC until the check has cleared the third party.
Bank may hold any funds on deposit with Bank by you after termination of the MRDC Services for up to fourteen (14) calendar days following the expiration of any return or chargeback rights regarding any Checks processed by you through the MRDC Service, or, if later, until any other claims to such funds have expired.
You are solely responsible for verifying that Checks that you deposit using the MRDC Service have been received for deposit by Bank.
You agree to follow any and all other procedures and instructions for use of the MRDC Service as we may establish from time to time.
You agree to use the MRDC Service for lawful purposes and in compliance with all applicable laws, rules, and regulations.
You agree to restrictively endorse any item transmitted through the MRDC Service as follows: sign the back of your check with your name and add the words “For Mobile Deposit Only Southern First Bank” or as otherwise instructed by us.