Summary of Our Service. You understand that when we take checks, drafts or items that you wish to deposit that are not drawn on us, that we are providing you a service in that we are saving you the time and expense of having to present the checks, drafts or items to the institution they are drawn on in person. In return for this service, you understand and agree that we may hold the funds represented by your deposit for a period of time, and that if the hold is for an extensive period of time we will provide you with notice as to the status of your deposit and when the funds’ availability will be determined. While we want to provide you with the service of taking deposits, you understand that we place holds on funds represented by your deposit so that you do not become indebted to us for the amount of the deposit in the event a check, draft or item is dishonored, returned or claim is made on the deposited funds. If you do not want us to provide this service and place a hold on the funds represented by your deposit, please inform us and we will be happy to return the check, draft or item to you in order to allow you to obtain payment elsewhere. Finally, you understand that whenever you make a deposit with us, and the deposit is dishonored, returned or claim is made on the deposited funds, you are obligated to reimburse us for the amount deposit, and any costs and fees as specified in this contract in general, and the Rate and Fee disclosures specifically.
Summary of Our Service. You understand that when we take checks, drafts or items that you wish to deposit that are not drawn on us, we are providing you a service in that we are saving you the time and expense of having to take the checks, drafts or items to the institution they are drawn on and present them in person for payment. In return for this service, you understand and agree that we may hold the funds represented by your deposit for a period of time, as explained in our Funds Availability disclosures in this Agree- ment and that are provided in this Part 2. Additionally, if the hold on your deposited funds is for an extensive period of time, we will provide you with notice of the status of your deposit and when the funds’ availability will be determined. Alternatively, we may require that a check, draft or item be deposited into your share account subject to a hold for an indefinite period of time until we can determine if the check, draft or item will be finally paid and not returned or is subject to a claim. We may (though are not required to) provide you with notice of the status of your deposit and when the funds will be available. While we want to provide you with the service of taking de- posits, you understand that we place holds on funds represented by your deposit so that you do not become indebted to us for the amount of the deposit if a check, draft or item is dishonored, returned or a claim is made on the deposited funds. If you do not want us to provide this service and place a hold on the funds represented by your deposit, please tell us before we have processed the check, draft or item and we will return it to you so that you can obtain payment elsewhere. You also agree that before you deposit a check, draft or item you will inform us of any facts, circum- stances and information that you are aware of that may indicate that the check, draft or item may not be paid, may be fraudulent and/or may be issued in connection with an illegitimate, an unlawful and/or a fictitious transaction or enterprise. You under- stand and agree that your failure to disclose any and all facts, circumstances or in- formation about the check, draft or item to our employee (or affiliated person or or- ganization) prior to the deposit makes you completely financially responsible for the check, draft or item if it is dishonored, returned or a claim is made. Further, you un- derstand for your and our protection that, following your deposit and before pro- cessing the check, draft or it...
