Common use of Submitting an Electronic Deposit Clause in Contracts

Submitting an Electronic Deposit. Performance of the On-Site Teller Service may be affected by external factors such as communication network latency. An Electronic Deposit is not considered “received” by the Bank for deposit until the entire Electronic Deposit transmission is received by the Bank and accepted at the location where the Bank or its designated agents post the credit to the account. Customer shall remain liable for, and the Bank shall not be accountable to Customer for, Electronic Items not received by the Bank.