Common use of Right to Refuse Deposit Clause in Contracts

Right to Refuse Deposit. If you request that we accept a check for a deposit that has already been deposited at a financial institution but returned, you understand that we are under no obligation to accept that check for deposit. Further, if you request that we accept a check image, substitute check, or remotely created check for deposit we are under no obligation to accept such an item. However, if we do, you agree to hold us harmless from any loss or liability, including consequential damages, attorneys’ fees, and expenses which may arise because of our acceptance of such an item. The Credit Union will not accept any item for deposit that was not created by a financial institution. Further, the Credit Union will not accept a check image if we have concerns of collectability for any reason in our sole and absolute discretion. In any event, we may refuse any deposit, limit the amount that may be deposited, accept all or any part of a deposit for collection only, return all or any part of any deposit, or close the Account subject to applicable law. If you are doing business as a proprietorship or any other type of business, we will not accept business deposits into your consumer Account with us, regardless of whether you provide any documentation confirming the establishment or existence of such business.

Right to Refuse Deposit. If you request that we accept a check for a deposit that has already been deposited at a financial institution but returned, you understand that we are under no obligation to accept that check for deposit. Further, if you request that we accept a check image, substitute check, or remotely created check for deposit we are under no obligation to accept such an item. However, if we do, you agree to hold us harmless from any loss or liability, including consequential damages, attorneys’ fees, and expenses which may arise because of our acceptance of such an item. The Credit Union will not accept any item for deposit that was not created by a financial institution. Further, the Credit Union will not accept a check image if we have concerns of collectability for any reason in our sole and absolute discretion. In any event, we may refuse any deposit, limit the amount that which may be deposited, accept all or any part of a deposit for collection only, return all or any part of any deposit, or close the Account subject to applicable lawregulations. If you are doing business as a proprietorship or any other type of business, we will not accept business deposits into your consumer Account with us. Also, regardless we will not accept business confirmation documentation for any type of whether you provide any documentation confirming the establishment or existence of such business.deposits from your business.‌