Mobile Deposit Disclosures
Topside Federal Credit Union
MOBILE REMOTE DEPOSIT SERVICES AGREEMENT
Mobile Deposit is designed to allow you to make deposits of checks (“original checks”) to your accounts from home or other remote locations by scanning the original checks and delivering the digital images and associated deposit information (“images”) to us or our processor with your Mobile Device. After you login to Mobile Banking, you may apply for Mobile Deposit.
Eligibility. Mobile Deposit may be added to a share draft account no sooner than thirty (30) days after account opening (review period) if the member is in good standing. Accounts containing any of the following during the review period will not be granted Mobile Deposit:
· Negative balance/overdrawn
· Loan or credit card accounts with the Credit Union thirty (30) or more days past due
If denied Mobile Deposit, an email will be sent advising same. You may request a subsequent account review 6 months after the date of the first account review.
If you are denied on your second request, subsequent account reviews may be requested one year after the date of the most recent denial. The following accounts are NOT eligible for Mobile Deposit:
· Social Security Representative Payee Accounts
Acceptance of Terms. You must read and accept this agreement before you may begin making mobile deposits. Please read this agreement carefully and keep a copy for your records. Use of Mobile Deposit means you accept and agree to all terms and conditions of this agreement.
Limits. We may establish limits on the dollar amount and/or number of items or deposits from time to time. If you attempt to initiate a deposit in excess of these limits, we may reject your deposit. The daily limit is $ 10,000 per day for members who have been with Topside Federal Credit Union for greater than 30 days. There is no daily or monthly limit on the number of items deposited as long as the respective cumulative deposit maximums are not exceeded.
Eligible items. You agree to scan and deposit only checks (i.e., drafts drawn on a credit union, savings and loan or bank and payable in US Dollars on demand.)
You agree that you will NOT use Mobile Deposit to deposit:
· Checks drawn on your account.
· Checks made payable to “cash.”
· Items stamped with a “non-negotiable” watermark.
· Checks payable to any person or entity other than you (i.e., payable to another party and then endorsed over to you).
· Checks payable to you and another party who is not a joint owner on the account to which the deposit is to be made.
· Checks that contain evidence of alteration, or that you know or suspect, or should know or suspect, are fraudulent or otherwise not authorized by the owner of the account on which the check is drawn.
· Checks that are “stale dated” (more than six months old) or “postdated” (dated later than the actual date).
· Checks that have been previously negotiated.
· Checks previously converted to a substitute check as defined by Regulation CC.
· Checks that are remotely created checks as defined in Regulation CC.
· Checks that are incomplete, including “starter” checks that do not have the drawer information printed on the face of the check.
· Savings Bonds, travelers checks, money orders, or postal money orders.
· “Convenience Checks” issued by credit card companies for cash advances.
· Checks payable on sight or payable through drafts, as defined by Regulation CC.
· Checks containing endorsement language other than the specific endorsement contained within this Agreement.
· Foreign Check issued by a financial institution in another country or a check payable in anything but US Dollars.
Requirements. Each image must provide all information on the front and back of the original check at the time presented to you by the drawer, including, but not limited to, information about the drawer and the paying bank that is preprinted on the original check, MICR information, signature(s), any required identification written on the front of the original check and any endorsements applied to the back of the original check. The image quality must meet the standards established by the American National Standards Institute, the Board of Governors of the Federal Reserve, and any other regulatory agency, clearing house or association.
Endorsements must be made on the back of the share draft or check within 1½ inches from the top edge, although we may accept endorsements outside this space. Your endorsement must include FOR MOBILE DEPOSIT TO TOPSIDE FCU your signature and your account number. Any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you will be your responsibility.
A check payable to two payees must be endorsed by both payees, and both payees must be authorized owners of the account to which the check is deposited. If the check is payable to you or your joint owner, either of you can endorse it. If the check is made payable to you and your joint owner, both of you must endorse the check.
Receipt of Deposit. All images processed for deposit through Mobile Deposit will be treated as “deposits” under your current Membership and Account Agreement with us and will be subject to all terms of the Membership and Account Agreement. When we receive an image. We are not responsible for any image that we do not receive.
Following receipt, we may process the image by preparing a “substitute check” or clearing the item as an image.
We reserve the right, at our sole and absolute discretion, to reject any image for remote deposit into your account. We will notify you of rejected images.
Original checks. Once your check image has been credited to your account, you must securely store the original check for sixty (60) calendar days after transmission to us and make the original check accessible to us at our request. Upon our request from time to time, you will deliver to us within 5 business days, at your expense, the requested original check in your possession. If not provided in a timely manner, such deposit amount will be reversed from your account. Promptly after sixty (60) calendar days and no later than sixty-five (65) calendar days, you will destroy the original check by first marking it “VOID” and then destroying it by cross-cut shredding or another commercially acceptable means of destruction. Proper destruction of the check will ensure that the check is not mistakenly re-deposited and account information remains secure. After destruction of an original check, the image will be the sole evidence of the original check.
You agree that you will never re-present the original check. You understand that you are responsible if anyone is asked to make a payment based on an original check that has already been paid.
Returned Deposits. Any credit to your account for checks deposited using Mobile Deposit is provisional. If original checks deposited through Mobile Deposit are dishonored, rejected or otherwise returned unpaid by the drawee bank, or are rejected or returned by a clearing agent or collecting bank, for any reason, including, but not limited to, issues relating to the quality of the image, you agree that an original check will not be returned to you, but that we may charge back the amount of the original check and provide you with an image of the original check, a paper reproduction of the original check or a substitute check. You will reimburse us for all loss, cost, damage or expense caused by or relating to the processing of the returned item. Without our approval, you shall not attempt to deposit or otherwise negotiate an original check if it has been charged back to you.
We may debit any of your accounts to obtain payment for any item that has been rejected or returned, for any adjustment related to such item or for any warranty claim related to such item, whether or not the rejection, return, adjustment or warranty claim was made timely.
Your Warranties. You make the following warranties and representations with respect to each image:
· Each image is a true and accurate rendition of the front and back of the original check, without any alteration, and the drawer of the check has no defense against payment of the check.
· The amount, payee(s), signature(s), and endorsement(s) on the image and on the original check are legible, genuine, and accurate.
· You will not deposit or otherwise endorse to a third party the original check and no person will receive a transfer, presentment, or return of, or otherwise be charged for, the original check or a paper or electronic representation of the original check such that the person will be asked to make payment based on an item that has already been paid.
· There are no other duplicate images of the original check.
· The original check was authorized by the drawer in the amount stated on the original check and to the payee(s) stated on the original check.
· You are authorized to enforce and obtain payment of the original check.
· You have possession of the original check and no party will submit the original check for payment.
With respect to each image, you make to us all representations and warranties that we make or are deemed to make to any party pursuant to law, regulation or clearinghouse rule. You agree that files and images transmitted to us will contain no viruses or any other disabling features that may have an adverse impact on our network, data, or related systems.
Fees. Currently there is no fee for this service. You agree to pay all fees and charges for the service as set forth on our Consumer Fee Schedule. All fees are subject to change only after 30 days written notice to you.
Compliance with Law. You will use Mobile Deposit for lawful purposes and in compliance with all applicable laws, rules and regulations. You warrant that you will only transmit acceptable items for deposit and have handled the original items in accordance with applicable laws, rules and regulations.
Mobile Deposit Availability. Mobile Deposit may be unavailable temporarily due to system maintenance or technical difficulties, including those of the Internet service provider, cellular service provider and Internet software. In the event that Mobile Deposit is unavailable, you may deposit original checks at our branches or through our ATMs or by mailing the original check to: Topside Federal Credit Union, P.O. Box 519, Dahlgren, VA 22448.
Funds Availability. Funds availability is not subject to the availability requirements of Federal Reserve Board Regulation CC. Mobile Deposits confirmed as received will typically be credited to your account within one business day of receipt. Deposits confirmed received on holidays or days that are not business days will be credited to your account within 24 hours of the following business day. We may place a hold or delay crediting of availability at our sole discretion as we deem necessary and will alert of you of any delay of availability.
Business Days. Our business days are Monday through Friday, except holidays.
Mobile Deposit Security. You will complete each deposit promptly. If you are unable to complete your deposit promptly, you will ensure that your mobile device remains securely in your possession until the deposit has been completed. It is your responsibility to establish and maintain procedures to safeguard against unauthorized deposits. You will notify us immediately by telephone at (540) 663-2181 and with written confirmation if you learn of any loss or theft of original checks. You will ensure the safety and integrity of original checks from the time of receipt until the time of destruction. If warranted in our reasonable judgment, we may audit and monitor you, and you agree to cooperate with us to permit such monitoring, to confirm that you have satisfied your obligations under this Agreement.
Verification of Statements. Your Mobile Deposits will be included on the periodic statements we provide or make accessible for your account. You agree to notify us immediately at (540) 663-2181 as soon as possible, if you believe your statement is incorrect, or if you need more information about a transaction listed on the statement. You understand and agree you are required to notify us of any suspected error related to your Mobile Deposits no later than sixty (60) days after you receive the first monthly periodic statement that includes any transaction you allege is erroneous. You are responsible for any errors you fail to bring to our attention within such time period.
Email Address. You agree to notify us immediately if you change your address as your address will be used to provide notices under this Agreement. You agree to hold us harmless for any notices you do not receive as a result of your failure to provide us with a current, working email address.
Hardware and Software Requirements. In order to use Mobile Deposit, you must have, at your own cost and expense, a mobile device that is acceptable to us, a wireless plan from a compatible mobile wireless provider and application upgrades as may be required for continued use of Mobile Deposit. You agree that you will perform, or cause to be performed by properly trained personnel, all vendor recommended maintenance, repairs, upgrades or replacements. You are solely responsible, at your own expense, for purchasing, installing, operating, testing and maintaining all hardware and software necessary to use Mobile Deposit.
Your Responsibility. You are solely responsible for the quality, completeness, accuracy, validity and integrity of the image. You are solely responsible if you, intentionally or unintentionally, submit fraudulent, incorrect or illegible images to us or if Mobile Deposit is used, by authorized or unauthorized persons, to submit fraudulent, unauthorized, inaccurate, incorrect or otherwise improper or unusable images to us.
Accountholder’s Indemnification Obligation. You understand and agree that you are required to indemnify us and hold us harmless against any and all claims, actions, damages, liabilities, costs, and expenses, including reasonable attorneys’ fees and expenses arising from your use of the Services and/or breach of this Disclosure and Agreement. You understand and agree that this paragraph shall survive the termination of this Agreement.
You understand and agree that you are required to indemnify our technology partners, including but not limited to Intuit, Inc. (Intuit) and Vertifi Software, LLC (Vertifi), and hold harmless Intuit, its affiliates, officers, employees and agents, as well as Vertifi, its affiliates, officers, employees, and agents, from and against any third party claims, suits, proceedings, actions or demands, including to claims of another financial institution, business entity or governmental authority, and all losses, liabilities, damages, fines, penalties, costs and expenses, including court costs and reasonable attorney fees and expenses, arising from such claims, to the extent such claim is related to FI or End User’s use of the Services, Vertifi or Intuit Applications, unless such claim directly results from an action or omission made by Intuit or Vertifi in bad faith. You understand and agree that this paragraph shall survive the termination of this Agreement.
DISCLAIMER OF WARRANTIES. YOU AGREE THAT YOUR USE OF ANY REMOTE BANKING SERVICE AND ALL INFORMATION AND CONTENT (INCLUDING THAT OF THIRD PARTIES) IS AT YOUR RISK AND IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE DISCLAIM ALL WARRANTIES OF ANY KIND AS TO THE USE OF ANY REMOTE BANKING SERVICE, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. WE MAKE NO WARRANTY THAT ANY REMOTE BANKING SERVICE WILL MEET YOUR REQUIREMENTS OR WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE. WE MAKE NO WARRANTY THAT THE RESULTS THAT MAY BE OBTAINED WILL BE ACCURATE OR RELIABLE OR THAT ANY ERRORS IN ANY REMOTE BANKING SERVICE OR TECHNOLOGY WILL BE CORRECTED.
LIMITATION OF LIABILITY. YOU AGREE THAT WE WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES INCURRED BY YOU OR ANY THIRD PARTY ARISING FROM OR RELATED TO THE USE OF, INABILITY TO USE, OR THE TERMINATION OF THE USE OF ANY REMOTE BANKING SERVICE, REGARDLESS OF THE FORM OF ACTION OR CLAIM (WHETHER CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF WE HAVE BEEN INFORMED OF THE POSSIBILITY THEREOF, EXCEPT AS OTHERWISE REQUIRED BY LAW.
Termination. You may terminate this Agreement at any time by giving written notice to the Credit Union. We may immediately suspend or terminate your access to the service in the event that we reasonable determine such suspension or termination is necessary in order to protect the service of the Credit Union from harm or compromise of integrity, security, reputation or operation. Notwithstanding any such notice of termination, this Agreement shall remain effective in respect of any transaction occurring prior to such termination. Upon termination of this Agreement, you will immediately cease using the service.
Modification. We may amend the terms of this Agreement and Remote Deposit Capture Service at any time by providing notice to you. Unless otherwise required by applicable law, any notice or written communication given pursuant to this agreement may be sent to you electronically. We may, in our sole discretion, provide notice by email or by mail. You will be deemed to have received a notice no later than three (3) days after it is sent by us, whether sent by email or by mail.
Financial Information. You must inform us immediately of any material change in your financial circumstances or in any of the information provided in your Application for any Remote Banking services. You agree to provide us any financial information we reasonably request during the term of this Agreement. You authorize us to review your history from time to time.