Mobile Remote Deposit Services Agreement
"You" and "your" refers to the member(s) who agree to the conditions contained in this Agreement. "Us" and "our" refer to Central One Federal Credit Union. "Mobile Deposit" refers to the services covered by this Agreement.
Mobile Deposit is designed to allow you to make deposits of original checks in your possession and made payable to you ("original checks") to your accounts from home or other remote locations by electronically capturing the original checks and delivering the digital images and associated deposit information from those checks ("images") to us or our processor with your Mobile Device. After you login to Mobile App, you may apply for Mobile Deposit.
Eligible items. You agree to only electronically capture and deposit checks ( i.e. , drafts drawn on a credit union, savings and loan or bank and payable on demand).
You agree that you will not use Mobile Deposit to deposit:
- Checks initially payable to any person or entity other than you or payable to you and another payee who is not a joint owner of the account into which the deposit is being made (i.e., no checks initially payable to another party and then endorsed to you).
- 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 stamped with a "non-negotiable" watermark.
- Checks issued by a financial institution in a foreign country.
- Any check that is incomplete.
- Any check that is "stale-dated" (greater than 6 months old) or "post-dated" (dated after the current date).
Requirements. To utilize the service, a mobile phone enabled with a camera and browser access is required. Members are required to have a checking account to utilize the service. 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/encoding 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. Your endorsement must include your signature, and "FOR MOBILE DEPOSIT TO CENTRAL ONE". If there is a checkbox and “For Mobile Deposit” language preprinted on the back of the check, you may check that box, but you must also write “For Mobile Deposit to Central One”. Any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you will be your responsibility.
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 and monetary transactional limits. When we receive an image, we will confirm receipt with a confirmation number within the application. We shall not be deemed to have received the image for deposit until we have confirmed receipt to you. Confirmation does not mean that the image contains no errors. 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.
All Electronic Banking transaction requests received after 3:00 p.m. on business days and all transactions which are requested on Saturdays, Sundays or holidays will be processed on the next business day.
Original checks. After you receive your confirmation within the application that we have received an image, you must securely store (such as in a locked drawer or safe) the original check for 30 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 10 business days, at your expense, the requested original check in your possession. If the original check is not provided in a timely manner, such amount will be reversed from your account. Promptly after such period expires, you must destroy the original check by first marking it "VOID" and then destroying it by cross-cut shredding or another commercially acceptable means of destruction. After destruction of an original check, the image will be the sole evidence of the original check. Images will retained by us for research for a period of time not less than 7 years.
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. At our discretion, returned items may be re-deposited for processing at which time a returned item fee will be applied to your account per item. Please refer to the fee schedule for details. 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), date, MICR line, 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 original check 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 each check transmitted or to obtain payment of each check on behalf of a person entitled to enforce such transmitted 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.
Compliance with Law. You agree to use the products and Service for lawful purposes and in compliance with all applicable laws, rules and regulations, as well as all laws pertaining to the conduct of your business if applicable. 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. You promise to indemnify and hold us harmless from any damages, liabilities, costs, expenses (including attorneys' fees) or other harm arising out of any violation thereof. This indemnity will survive termination of your Account and this Agreement.
Mobile Deposit Unavailability. 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: Central One Federal Credit Union, 714 Main Street, Shrewsbury, MA 01545, Attn: Electronic Services.
Funds Availability. For purposes of funds availability, Mobile Deposits are not processed real-time. Once a Mobile Deposit has been posted to your account, it will be visible in your transaction history. Funds may be made available within 1(one) Federal Business Day, however, longer holds may apply based on length of membership, account type, check negotiability and account status.
Business Days. Our business days are Monday – Friday 7 a.m.-6 p.m., 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 to 1-800-527-1017 if you learn of any loss or theft of original checks or any sort of security breach. 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.
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.
In addition you agree that you will not modify, change, alter, translate, create derivative works from, reverse engineer, disassemble or decompile the technology or service, copy or reproduce all or any part of the technology or Service; or interfere, or attempt to interfere, with the technology or Service. We and our technology partners, inclusive of, but not limited to Digital Insight and Vertifi Software, LLC, retain all rights, title and interests in and to the services, software and development made available to you.
Unless you notify Central One Federal Credit Union of any error to deposits made within 60 days after the applicable account statement is mailed or otherwise provided, such statement regarding all deposits made shall be deemed to be correct. To report a problem, contact Member Support at 1-800-527-1017 or via email at firstname.lastname@example.org. Please do not include any personal information (i.e. account numbers) in your email.
If the report is made orally, we may require that you send the complaint or question in writing within 10 business days. We will notify you with the results of the investigation within 10 calendar days and will correct any error promptly. If more time is needed, however, we may take up to 45 days to investigate your complaint or question. If this occurs, we will provisionally recredit your account within 10 calendar days after we hear from you for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation.
If we determine that no error occurred, we will send you a written explanation within three business days after the investigation is complete (any provisional credit(s) will be reversed from your account(s)). You may request copies of the documents that were used in the investigation.
In addition, you agree that you will not (i) modify, change, alter, translate, create derivative works from, reverse engineer, disassemble or decompile the technology or Service, (ii) copy or reproduce all or any part of the technology or Service; or (iii) interfere, or attempt to interfere, with the technology or Service.
Withdrawal of Access/Suspension of Service: Central One Federal Credit Union reserves the right to deny, suspend or revoke access to the Mobile Deposit services immediately, in whole or in part, in its sole discretion, without notice, if Central One believes you are in breach of this Agreement or are otherwise using or accessing the services inconsistent with the terms and conditions hereof. Further, Central One or its subcontractor shall have the right to suspend the Service immediately (a) in the event of an emergency or in the event of risk beyond reasonable control, (b) if Central One is uncertain as to the accuracy of any check, or (c) Central One determines in its sole discretion that your financial condition renders your use of the Services no longer advisable.
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 Digital Insight (DI) and Vertifi Software, LLC (Vertifi), and hold harmless Digital Insight, 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 Digital Insight Applications, unless such claim directly results from an action or omission made by Digital Insight 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.
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 account relationship(s) from time to time.