Common use of Mobile Deposit Capture Clause in Contracts

Mobile Deposit Capture. Deposits to your Railroad & Industrial Federal Credit Union account may be made remotely using your smart phone device by submitting an image of the front and back of a check. We reserve the right to reject or adjust any item transmitted through Remote Deposit Capture, at our discretion, without liability to you. We are not responsible for items we do not receive or for images that are dropped during transmission. An image of an item shall be deemed received when you receive a confirmation from Railroad & Industrial Federal Credit Union that we have received the image. Receipt of such confirmation does not mean the transmission was error free, complete or will be considered a deposit and credited to your account. We further reserve the right to charge back to your account at any time; any item we subsequently determine was not an eligible item. You agree that Railroad & Industrial Federal Credit Union is not liable for any loss, costs, or fees you may incur as a result of our chargeback of an ineligible item or adjusted item. You agree to submit only “checks” as defined in Federal Reserve Regulation CC. You agree that the image of the check transmitted to us shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code.  Checks drawn on a foreign bank  Money orders  Travelers checks  Checks payable to an individual not on the account  An item drawn on your account at Railroad & Industrial Federal Credit Union  An item that contains evidence of alteration  A check previously converted to a “substitute check”, as defined in Regulation CC  A stale dated, expired, or post dated item  Any item that has been re-deposited or returned such as “non sufficient funds” or “refer to maker”, or any other reason  Cash  Savings Bonds  Non-negotiable item  Incomplete check – an item that does not contain signature(s) of the maker, proper endorsement signature(s), and/or missing any of the required keyed information  Third party check – an item issued by an individual (1st party) made payable to another person (2nd party) and then signed over to a third person (3rd party)  Check made payable to a custodial and/or account governed by the Uniform Transfers to Minors Act  Check made payable to a living trust or to a trustee(s) of a living trust  Check to be deposited into a Representative Payee Account  Check to be deposited into a Guardianship Account  Check to be deposited to an ▇▇▇  Check to be deposited to a Share Certificate  Checks payable to a business account I understand and agree that deposits made through Mobile Banking using Mobile Deposit Capture method is not subject to the Expedited Funds Availability Act, Regulation CC or the Credit Union’s Funds Availability Policy. With regard to the availability of deposits made using Mobile Deposit Capture, such funds will be available as set forth below:  All checks deposited on one business day will be combined for an aggregate amount up to $5,000.00 per day  The first $200 will be made available the 1st business day after the deposit posted to your account  Funds from deposit (less $200) will be available on the third business day after the deposit posted to your account  If you make a deposit before 4:00 p.m. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you made a deposit after 4:00 p.m. on a business day, we will consider that the deposit was made on the next business day.  For determining the availability of your Mobile Banking, every day is a business day except Saturdays, Sundays, and Federal holidays  Longer delays may apply. We reserve the right to extend any hold placed in an emergency situation where there is a failure of communications or computer equipment and if we have any reason to believe an item will not be paid. If this is the case the first $200.00 will not be available the 1st business day after the deposit posted to your account and the full amount of deposit will not be available until the extended hold has released.

Mobile Deposit Capture. Deposits The Mobile Deposit Capture service allows you to make deposits to your Railroad & Industrial Federal Credit Union checking, savings, or money market accounts from a remote location using a mobile device that provides for the capture of an image and electronically transmitting that image to us for deposit.  An active Mobile Banking account  A checking, savings, or money market account  A camera enabled mobile device We reserve the right to establish deposit limits including limits on the dollar amount and/or number of items or deposits that can be made each day and/or an aggregate total for the month based on your overall banking relationship. Current limits have been established as follows:  Daily Amount - $2,000  Daily Count - 5  Monthly Amount - $10,000  Monthly Count - 20 If you attempt to initiate a deposit in excess of these limits, we may reject your deposit. If we permit you to make a deposit in excess of these limits, such deposit will still be subject to the terms of this Agreement, and we will not be obligated to allow such a deposit at other times. Following a review of your normal account activity, the limits may be made remotely using your smart phone device by submitting amended for an account relationship at our discretion.  You will use mobile deposit to deposit images of paper checks only.  Endorsements should include “For Mobile Deposit Only” and a signature from the named payee. The payee name must match the name of the account owner or business name. Improper endorsements could result in the delay of the deposit transaction.  Check images may not have been altered.  Checks payable to “Cash” will not be accepted.  Checks with joint payees may also be rejected. You are responsible for the image quality of any image that you transmit. If an image that we receive for deposit to your account is not of sufficient quality, we may reject the image without prior notice. Each image must include the front and back of a the item, and the following information must be clearly readable: amount, payee name, drawer signature, date, check number, account number, routing and transit number, MICR line, and any endorsement or other information written on the check. We reserve the right to reject or adjust any item transmitted through Remote Deposit Capture, at our discretion, without liability to you. We are not responsible for items we do not receive or for If you send us images that are dropped during transmission. An incomplete, that fail to satisfy our image quality standards, or otherwise do not allow us to meet the requirements of an item shall be deemed received when you receive a confirmation from Railroad & Industrial Federal Credit Union that Check 21, we have received may charge the image. Receipt of such confirmation does not mean the transmission was error free, complete or will be considered a deposit and credited images back to your account. We further reserve the right to charge back to your account at any time; any item we subsequently determine was not an eligible item. You agree that Railroad & Industrial Federal Credit Union is not liable for any loss, costs, or fees you may incur as a result of our chargeback of an ineligible item or adjusted item. You agree to submit only “checks” as defined in Federal Reserve Regulation CC. You agree that the image of the check transmitted to us shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code.  Checks drawn on a foreign bank  Money orders  Travelers checks  Checks payable to an individual not on the account  An item drawn on your account at Railroad & Industrial Federal Credit Union  An item that contains evidence of alteration  A check previously converted to a “substitute check”, as defined in Regulation CC  A stale dated, expired, or post dated item  Any item that has been re-deposited or returned such as “non sufficient funds” or “refer to maker”, or any other reason  Cash  Savings Bonds  Non-negotiable item  Incomplete check – an item that does not contain signature(s) of the maker, proper endorsement signature(s), and/or missing any of the required keyed information  Third party check – an item issued by an individual (1st party) Deposits made payable to another person (2nd party) and then signed over to a third person (3rd party)  Check made payable to a custodial and/or account governed by the Uniform Transfers to Minors Act  Check made payable to a living trust or to a trustee(s) of a living trust  Check to be deposited into a Representative Payee Account  Check to be deposited into a Guardianship Account  Check to be deposited to an ▇▇▇  Check to be deposited to a Share Certificate  Checks payable to a business account I understand and agree that deposits made through Mobile Banking using Mobile Deposit Capture method is not subject to the Expedited Funds Availability Act, Regulation CC or the Credit Union’s Funds Availability Policy. With regard to the availability of deposits made using Mobile Deposit Capture, such funds will be available as set forth below:  All checks deposited on one business day will be combined for an aggregate amount up to $5,000.00 per day  The first $200 will be made available the 1st business day after the deposit posted to your account  Funds from deposit (less $200) will be available on the third business day after the deposit posted to your account  If you make a deposit before 4:00 p.m. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you made a deposit after 4:00 p.m. pm (EDST) on a business day, we Monday through Friday, will consider be considered deposited that the deposit was made day. Transfers completed after 4:00 p.m. (EDST) on a business day, and those completed on a Saturday, Sunday or banking holiday, will be considered deposited on the next business day.  For determining the Funds from items deposited through mobile deposit will be made available to you pursuant to our Funds Availability Policy. We may have to delay availability if we require further review of your Mobile Bankingdeposit. If so, every day we will contact you. You agree not to allow an item to be deposited or presented for payment more than once, to the extent that it could result in the payment of the item more than once. You will not allow the transmission of an image of an item that has already been presented to us or to any bank by any other means. If any item is a business day except Saturdayspresented or deposited more than once, Sundayswhether by image or by any other means, we may, at our discretion, reject it or return it and charge it against your account without prior notice to you. Any applicable check return fees will also apply in accordance with our deposit account fee schedule. You agree to retain the item for at least 45 calendar days from the date of deposit, and Federal holidays  Longer delays thereafter to either destroy or otherwise render incapable of transmission or presentment. You agree to cooperate with us in the investigation of unusual transactions, poor quality images, and resolution of customer claims, including by providing any originals or copies of items in your possession and your records. You are solely responsible for any item for which you have been given provisional credit, and any such item that is returned or rejected may apply. We reserve the right to extend any hold placed in an emergency situation where there is a failure of communications or computer equipment and if we have any reason to believe an item will not be paid. If this is the case the first $200.00 will not be available the 1st business day after the deposit posted charged to your account including any return item fee. You acknowledge that all credits received for deposits made through mobile deposit are provisional, subject to verification and the full amount of deposit will not be available until the extended hold has releasedfinal settlement.