Deposit Service. This Service (also known as remote deposit capture) enables you to convert original paper checks that are drawn on or payable through United States financial institutions into digitized images ("Images") and to electronically transmit the Images to us for deposit into one or more designated Accounts with us for collection thereafter by us. Images transmitted to us electronically for deposit are not deemed received until we accept the transmittal at our designated location. In connection with this Service, we grant you a non-exclusive, non- transferable, non-sublicensable, limited site license to use the E- Deposit Software, as such E-Deposit Software may be upgraded or modified from time to time by us, together with copies of all documentation relating thereto which we shall provide to you, for use solely at such location and on such computer equipment of yours as we shall agree. Our agreement respecting the computer, scanning equipment, or mobile device you use shall mean only that the equipment is compatible with the specifications for the E- Deposit Software. We are not responsible or liable for the actual operation of your scanning equipment, computer equipment, or mobile device, which is between you and its manufacturer or supplier. You may only use the E-Deposit Service for the purpose of transmitting to us at our designated location, the Images you intend to be deposited into your designated Account with us. Nothing herein shall grant to you any proprietary right to the E-Deposit Software, the E-Deposit Service or the related documentation. You shall not copy or alter the E-Deposit Software or documentation in any way. You shall not reverse engineer, reverse compile or disassemble the object codes, source codes or algorithms of the E- Deposit Software, or encumber the E-Deposit Software or transfer the E-Deposit Software, or any of your rights, to any other party. You also understand that we warrant that our E-Deposit Software as downloaded from the Internet by you is, at the time of download, free from any virus, malicious logic, worm, bug, error, defect or trap door, or similar disabling event that will adversely impact your computer and that it will materially conform to the description of its function and performance set forth in the written documentation we provide to you. However, our warranty will not apply in the event of equipment malfunction, use of the E-Deposit software on equipment not approved by us, your negligence, misuse or failure to follow instructions, or if you make any unauthorized changes or modifications to the E-Deposit Software or you do not permit us to upgrade or enhance or fix or repair the E-Deposit Software as recommended by us. Except as stated herein, we disclaim all other warranties, express or implied, respecting the E-Deposit Software, including, but not limited to, the implied warranties of merchantability or fitness for particular purpose and those arising from a course of performance, a course of dealing or trade usage. You understand that we do not warrant that the operation of the E- Deposit Software or any equipment required to perform our E- Deposit Service will be uninterrupted or error free, or that all deficiencies or errors can or will be corrected. When we review and process your file, we may reject, and are not obligated to accept for deposit, any Image that we determine to be an Exception Item. We will attempt to notify you promptly of any Exception Item. You agree we need take no further action respecting any Exception Item and you will not attempt to retransmit for deposit an Image of a check previously determined by us to be an Exception Item without our prior consent. You agree that when an Image is determined to be an Exception Item, thereafter you may only deposit to your Account the original paper check on which the Exception Item was based. You acknowledge and agree that even if we do not identify an Image as an Exception Item, the substitute check or purported substitute check created by us from the Image you transmit may nevertheless be returned to us because, among other reasons, the substitute check or purported substitute check is deemed illegible by the bank upon which it is drawn or any intermediate collecting bank. Our failure to identify an Image you transmit to us as an Exception Item shall not preclude or limit your obligations stated below. Generally, a deposit you transit using this Service (including via a mobile device) that is received by us prior to 7:00 p.m. Pacific Time (PT) is processed on the Business Day of receipt. Any such deposits received after 7:00 p.m. PT on a Business Day or on a day other than a Business Day will be processed the next Business Day. We will acknowledge your deposit submission and will notify you if a deposit cannot be accepted for deposit. Acknowledgment that a deposit has been successfully submitted does not mean that the mobile deposit can be processed and credited to your Account. We reserve the right to delay the availability of funds deposited through this Service in accordance with our funds availability policy and any applicable law or regulation. You will be notified of any delay in the availability of funds as required by law or regulation. You agree to fully destroy each original check within thirty (30) days following receipt and crediting of your deposit or as we may otherwise instruct. Prior to destruction you will maintain each original check in a secure location. You are responsible if an original check is misused or redeposited following deposit through this ▇▇▇▇▇▇▇.▇▇▇ represent and warrant to us that: (i) you shall use this Service only for original paper checks payable or endorsed to you, drawn on a financial institution in the United States in United States Dollars and intended for deposit by you to your Account with us; (ii) you shall dispose of original paper checks from which you create an Image transmitted electronically to and received and accepted by us for deposit to your Account using our E-Deposit Service in accordance with instructions from us. You shall maintain control over and responsibility for retention and destruction of any such original paper check; (iii) you shall not transmit to us or to any other person or entity for deposit or credit any Image of an original paper check you have previously transmitted electronically to us for deposit into your Account with us which we accepted for deposit or which you previously transmitted to and accepted by any other person or entity for deposit; (iv) You shall not deposit to any account of yours with us or any other deposit taking institution or otherwise negotiate or transfer to anyone any original paper check from which you create and transmit to us an Image for deposit, unless following receipt of the transmission we notify you that the Image is an Exception Item not accepted for deposit or that the Image or any substitute check created from the Image is refused by the financial institution upon which it is drawn; and (v) you shall transmit to us only Images that are suitable for processing, including, but not limited to, Images that are legible and contain machine-readable MICR data. In addition to the general indemnification obligations in this Agreement, you will defend, indemnify and hold us harmless from all Losses, claims, demands, cause of action, settlements, judgments or recoveries of third parties that arise, directly or indirectly, out of: (i) the violation of any applicable law, statute, or regulation in the performance of your obligations under this Service or this Agreement; (ii) our acting as a "reconverting bank" through the creation of substitute checks or purported substitute checks using an Image or file of Images or an illegible Image transmitted to us by you; (iii) our acting as a presenting or collecting bank to the bank on which a check is drawn or to any intermediate collecting bank of an electronic file containing the Image of a check you create hereunder for deposit into your Account with us provided we shall have exercised reasonable care in so acting; and (iv) your failure to fully destroy an original paper check the Image of which is deposited through this Service in accordance with this Agreement and our instructions. Losses and liabilities arising from the failure to destroy any such original paper check shall include, without limitation, consequential damages.
Appears in 2 contracts
Sources: Deposit Account Disclosures, Deposit Account Agreement
Deposit Service. This Service (also known as remote deposit capture) enables you to convert original paper checks that are drawn on or payable through United States financial institutions into digitized images ("Images") and to electronically transmit the Images to us for deposit into one or more designated Accounts with us for collection thereafter by us. Images transmitted to us electronically for deposit are not deemed received until we accept the transmittal at our designated location. In connection with this Service, we grant you a non- exclusive, non-exclusive, non- transferable, non-sublicensable, limited site license to use the E- E-Deposit Software, as such E-Deposit Software may be upgraded or modified from time to time by us, together with copies of all documentation relating thereto which we shall provide to you, for use solely at such location and on such computer equipment of yours as we shall agree. Our agreement respecting the computer, scanning equipment, or mobile device you use shall mean only that the equipment is compatible with the specifications for the E- E-Deposit Software. We are not responsible or liable for the actual operation of your scanning equipment, computer equipment, or mobile device, which is between you and its manufacturer or supplier. You may only use the E-Deposit Service for the purpose of transmitting to us at our designated location, the Images you intend to be deposited into your designated Account with us. Nothing herein shall grant to you any proprietary right to the E-Deposit Software, the E-Deposit Service or the related documentation. You shall not copy or alter the E-Deposit Software or documentation in any way. You shall not reverse engineer, reverse compile or disassemble the object codes, source codes or algorithms of the E- E-Deposit Software, or encumber the E-Deposit Software or transfer the E-Deposit Software, or any of your rights, to any other party. You also understand that we warrant that our E-Deposit Software as downloaded from the Internet by you is, at the time of download, free from any virus, malicious logic, worm, bug, error, defect or trap door, or similar disabling event that will adversely impact your computer and that it will materially conform to the description of its function and performance set forth in the written documentation we provide to you. However, our warranty will not apply in the event of equipment malfunction, use of the E-Deposit software on equipment not approved by us, your negligence, misuse or failure to follow instructions, or if you make any unauthorized changes or modifications to the E-Deposit Software or you do not permit us to upgrade or enhance or fix or repair the E-Deposit Software as recommended by us. Except as stated herein, we disclaim all other warranties, express or implied, respecting the E-Deposit Software, including, but not limited to, the implied warranties of merchantability or fitness for particular purpose and those arising from a course of performance, a course of dealing or trade usage. You understand that we do not warrant that the operation of the E- E-Deposit Software or any equipment required to perform our E- E-Deposit Service will be uninterrupted or error free, or that all deficiencies or errors can or will be corrected. When we review and process your file, we may reject, and are not obligated to accept for deposit, any Image that we determine to be an Exception Item. We will attempt to notify you promptly of any Exception Item. You agree we need take no further action respecting any Exception Item and you will not attempt to retransmit for deposit an Image of a check previously determined by us to be an Exception Item without our prior consent. You agree that when an Image is determined to be an Exception Item, thereafter you may only deposit to your Account account the original paper check on which the Exception Item was based. You acknowledge and agree that even if we do not identify an Image as an Exception Item, the substitute check or purported substitute check created by us from the Image you transmit may nevertheless be returned to us because, among other reasons, the substitute check or purported substitute check is deemed illegible by the bank upon which it is drawn or any intermediate collecting bank. Our failure to identify an Image you transmit to us as an Exception Item shall not preclude or limit your obligations stated below. Generally, a deposit you transit using this Service (including via a mobile device) that is received by us prior to 7:00 p.m. Pacific Time (PT) is processed on the Business Day of receipt. Any such deposits received after 7:00 p.m. PT on a Business Day or on a day other than a Business Day will be processed the next Business Day. We will acknowledge your deposit submission and will notify you if a deposit cannot be accepted for deposit. Acknowledgment that a deposit has been successfully submitted does not mean that the mobile deposit can be processed and credited to your Account. We reserve the right to delay the availability of funds deposited through this Service in accordance with our funds availability policy and any applicable law or regulation. You will be notified of any delay in the availability of funds as required by law or regulation. You agree to fully destroy each original check within thirty (30) days following receipt and crediting of your deposit or as we may otherwise instruct. Prior to destruction you will maintain each original check in a secure location. You are responsible if an original check is misused or redeposited following deposit through this ▇▇▇▇▇▇▇.▇▇▇ represent and warrant to us that: (i) you shall use this Service only for original paper checks payable or endorsed to you, drawn on a financial institution in the United States in United States Dollars and intended for deposit by you to your Account with us; (ii) you shall dispose of original paper checks from which you create an Image transmitted electronically to and received and accepted by us for deposit to your Account using our E-Deposit Service in accordance with instructions from us. You shall maintain control over and responsibility for retention and destruction of any such original paper check; (iii) you shall not transmit to us or to any other person or entity for deposit or credit any Image of an original paper check you have previously transmitted electronically to us for deposit into your Account with us which we accepted for deposit or which you previously transmitted to and accepted by any other person or entity for deposit; (iv) You shall not deposit to any account of yours with us or any other deposit taking institution or otherwise negotiate or transfer to anyone any original paper check from which you create and transmit to us an Image for deposit, unless following receipt of the transmission we notify you that the Image is an Exception Item not accepted for deposit or that the Image or any substitute check created from the Image is refused by the financial institution upon which it is drawn; and (v) you shall transmit to us only Images that are suitable for processing, including, but not limited to, Images that are legible and contain machine-readable MICR data. In addition to the general indemnification obligations in this Agreement, you will defend, indemnify and hold us harmless from all Losses, claims, demands, cause of action, settlements, judgments or recoveries of third parties that arise, directly or indirectly, out of: (i) the violation of any applicable law, statute, or regulation in the performance of your obligations under this Service or this Agreement; (ii) our acting as a "reconverting bank" through the creation of substitute checks or purported substitute checks using an Image or file of Images or an illegible Image transmitted to us by you; (iii) our acting as a presenting or collecting bank to the bank on which a check is drawn or to any intermediate collecting bank of an electronic file containing the Image of a check you create hereunder for deposit into your Account with us provided we shall have exercised reasonable care in so acting; and (iv) your failure to fully destroy an original paper check the Image of which is deposited through this Service in accordance with this Agreement and our instructions. Losses and liabilities arising from the failure to destroy any such original paper check shall include, without limitation, consequential damages.
Appears in 1 contract
Sources: Deposit Account Agreement