Common use of Processing of Items Clause in Contracts

Processing of Items. Images of Items transmitted by you are not considered received by us until you have received an electronic confirmation of the receipt of the deposit from us. However, receipt of the confirmation from us does not mean that the transmission was error free or complete. We reserve the right to review all deposited Items prior to accepting the Items for processing. We may reject or refuse Items according to our sole discretion. Items transmitted by an Authorized User and received and accepted by us or our subcontractors by 6:00 PM Central Time (CST) on a Banking Day, Monday through Friday, and on Christmas Eve Day and New Year’s Eve Day, by 12:30 PM CT shall be credited to the applicable account the following Banking Day. Items received and accepted by us after 6:00 PM CT on any Banking Day or Christmas Eve Day and New Year’s Eve Day, by 12:30 PM CT shall be credited to your applicable account on the second successive Banking Day. You understand and agree funds from Items deposited under the terms of this Addendum are not subject to our funds availability policy and will generally be available after processing and once funds are received. We reserve the right to postpone or delay the availability of funds from Items deposited at our sole discretion. We will notify you at the latest email address or mobile number we have on file (by text message, message and data rates apply) if availability of the funds from Items deposited is postponed or delayed. We will process all transactions received during the hours established, except when prevented from doing so due to equipment or electrical failures or any other condition beyond the reasonable control of the Bank. If Business Mobile Deposit is not functioning you will need to make your deposit at a banking office.

Appears in 2 contracts

Sources: Business Online Cash Manager & Mobile Banking Agreement & Disclosure Statement, Business Online Cash Manager & Mobile Banking Agreement & Disclosure Statement

Processing of Items. Images of Items transmitted by you are not considered received by us until you have received an electronic confirmation of the receipt of the deposit from us. However, receipt of the confirmation from us does not mean that the transmission was error free or complete. We reserve the right to review all deposited Items prior to accepting the Items for processing. We may reject or refuse Items according to our sole discretion. Items transmitted by an Authorized User you and received and accepted by us or our subcontractors by 6:00 PM Central Standard Time (CST) on a Banking Day, Monday through Friday, and on Christmas Eve Day and New Year’s Eve Day, by 12:30 PM CT CST shall be credited to the applicable account the following Banking Day. Items received and accepted by us after 6:00 PM CT CST on any Banking Day or Christmas Eve Day and New Year’s Eve Day, by 12:30 PM CT CST shall be credited to your applicable account on the second successive Banking Day. You understand and agree funds from Items deposited under the terms of this Addendum Agreement are not subject to our funds availability policy and will generally be available after processing and once funds are received. We reserve the right to postpone or delay the availability of funds from Items deposited at our sole discretion. We will notify you at the latest email address or mobile number we have on file (by text message, message and data rates apply) if availability of the funds from Items deposited is postponed or delayed. We will process all transactions received during the hours established, except when prevented from doing so due to equipment or electrical failures or any other condition beyond the reasonable control of the Bank. If Business Mobile Deposit is not functioning you will need to make your deposit at a banking office.

Appears in 1 contract

Sources: Personal Online Banking Terms & Conditions