Remote Deposit Terms and Conditions
Terms and Conditions
This Remote Deposit Anywhere Agreement, (“Agreement”) is the contract which covers your and our rights and responsibilities concerning the Remote Deposit Anywhere services offered to you by Missouri Credit Union (“Credit Union”). The words “we,” “us,” and “our” mean the Missouri Credit Union. The word “account” means any one or more deposit accounts you have with the Credit Union. By using this service Member and any joint owners or authorized users, jointly and severally, agree to the terms and conditions in this Agreement, and any amendments.
The Remote Deposit Anywhere services are offered for the purpose of converting original checks to substitute checks, as such term is defined in the Check Clearing for the 21st Century Act and Federal Reserve Board Regulation CC (“Check 21”), for deposit with Credit Union and for processing and presentment to a collecting or paying financial institution. The Remote Deposit Anywhere service is subject to the following terms and conditions and to the instructions, rules and terms contained in the Remote Deposit Anywhere User Guide provided to you and incorporated by reference herein.
- Remote Deposit Anywhere Process. Member will capture image of checks or drafts (“items”) with a smartphone or tablet creating an electronic image and Member will transmit an electronic file of such electronic images that the Credit Union will deposit to Member’s account. The Credit Union’s processing agent shall perform an image quality assessment of scanned checks or items and shall convert items meeting the Credit Union’s required standards into substitute checks to facilitate the deposit and collection of such items. Member agrees that the manner in which items (e.g., substitute check, image exchange, ACH) are cleared or presented for payment shall be determined by Credit Union, in its sole discretion. Credit Union reserves the right to select the clearing agents through which Credit Union clears items. Member agrees to be bound by any clearinghouse agreements, operating circulars and image exchange agreements to which Credit Union is a party.
- Deposit Requirements: Member agrees that it will only use the Remote Deposit Anywhere services to deposit “checks” or “drafts” as the term is defined in Federal Reserve Regulation CC. You shall not use the Mobile Remote Deposit Anywhere services to transmit any check or other items that:
- Are payable to any person or entity other than you.
- Are drawn or otherwise issued by you or any other person on any of your accounts on which you are an authorized signor or joint account holder at another institution.
- Contain an obvious alteration on the check, or which you know or suspect is fraudulent or otherwise not authorized by the owner of the account on which the check or item is drawn.
- Were previously converted to a “substitute check” as defined in Regulation CC.
- Are drawn on a financial institution located outside the United States of America.
- Are not payable in U.S. currency.
- Are dated more than 1 year prior to the date of deposit.
- Are third party check or checks that a payee has endorsed over to someone else (“Pay to the order of”).
Any image of a check that you transmit to us shall accurately and legibly provide all the information on the front and back of the check that appeared on the original check at the time the check was presented to you. Prior to imaging the check, you will endorse the back of the original check with your signature and the signature of all parties the check is made payable to. You must include FOR REMOTE DEPOSIT ONLY above all signatures for proper endorsement. If check is not endorsed properly, it may be returned to you. All imaged items transmitted to us shall provide at a minimum the information identifying the drawer and paying bank that is pre-printed on the check, the complete MICR information, and signatures on the bottom of the check. Member agrees that each check it submits for deposit through the Remote Deposit Anywhere service will meet the image quality standards established by the American National Standards Institute.
- Funds Availability. Funds from deposited items will be made available to you on the second business day after the day we receive your deposit. All deposits received after 9:00 pm CST will be on the next business day. Once the funds are available, you can withdraw them. After funds are made available to you, you will still be responsible for checks you deposit that are returned to us as unpaid and for any other problems with your deposit. In some cases, we will not make all of the funds that you deposit by check available to you on the second business day after the day of your deposit. If we are not going to make all the funds from your deposit available on the second business day, we will mail you the notice by the next business day after we receive your deposit.
- Deposit Acceptance. Member agrees that Credit Union may at any time, in its sole discretion, refuse to accept deposits of checks from Member via Remote Deposit Anywhere. In the event that Remote Deposit Anywhere services are interrupted or are otherwise unavailable, you may, at your option, deposit checks in-person at a Credit Union branch or via night drop or mail.
- Compliance with Law. Member will use Remote Deposit Anywhere for lawful purposes and in compliance with applicable laws, rules and regulations. You will only transmit acceptable items for deposit and will handle the original items in accordance with applicable laws, rules and regulations.
- Responsibility for Imaging. Member is solely responsible for scanning deposit items, accessing the service from the Credit Union and for maintaining Member’s imaging equipment. Member will be responsible for the payment of all telecommunications expenses associated with the service. Credit Union shall not be responsible for providing or servicing any equipment for Member.
- Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this Agreement and the User Guide. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member’s account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member’s electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Remote Deposit Anywhere for a reasonable period of time to verify settlement and credit or to balance periodic statements. During the period that you maintain the original checks, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Remote Deposit Anywhere service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)
- Member’s Representations and Warranties. Member represents and warrants that:
- You will comply with all federal and state laws, and rules and regulations applicable to online transactions, including those of the National Automated Clearing House for ACH transactions;
- All Checks scanned through image transport are made payable to Member;
- All signatures on each check are authentic and authorized; and that each check has not been altered.
- You have possession of each original check deposited using Remote Deposit Anywhere and no one will submit the original check for payment.
- There are no duplicate images of the original check except the digital image of the original check that you transmit to MCU using Remote Deposit Anywhere.
- Files and images you transmit to us contain no viruses or other features that might adversely affect our network or related systems.
- You will only transmit eligible items.
- You will not transmit duplicate items.
- You will not deposit or re-present the original item.
In the event Member breaches any of these representations or warranties, Member agrees to defend, indemnify and hold Credit Union and its agents harmless from and against all liability, damages and loss arising out of any claims, suits or demands brought by third parties with respect to any such breach. Member further authorizes the Credit Union to charge its account for the amount of any such demand, claim or suit that constitutes a breach of warranty claim under the provisions of the Uniform Commercial Code.
- Financial Data. The Credit Union agrees to transmit all the financial data under its control required to utilize the service selected by Member and to act on appropriate instructions received from Member in connection with such service. To protect your personal information from unauthorized access and use, the Credit Union shall use security measures that comply with federal law to preserve the confidentiality of personal member information. Member assumes full responsibility for the consequences of any misuse or unauthorized use of or access to the service or disclosure of any confidential information or instructions of Member by the Member, Member’s employees, agents, or other third parties.
- Service Availability. Member understands that service availability is at all times conditioned upon the corresponding operation and availability of those computer services and systems used in communicating Member’s instructions and requests to the Credit Union and the Credit Union’s response. The Credit Union shall not be liable or have any responsibility of any kind for any loss or damage thereby incurred or suffered by Member in the event of any failure or interruption of such services or any part thereof, resulting from the act or omission of any third party, or from any other cause not reasonably within the control of the Credit Union.
- Hardware and Software. Member agrees to obtain and maintain, at your expense, compatible hardware and software that we specify from time to time. We are not responsible for items not received or images that are dropped during transmission. An image of an item shall be deemed received when you receive our communication that we have received the image. Receipt of such confirmation does not mean that the transmission was error free or complete.
- Exception Items. When Credit Union reviews and processes Member’s electronic file, Credit Union may reject any electronic image that Credit Union, in its sole discretion, determines to be ineligible for the service (“Exception Item”) including, without limitation, electronic images of items drawn on banks located outside the United States, items drawn on U.S. Banks in foreign currency, electronic images that are illegible (due to poor image quality or otherwise), electronic images of items previously processed, electronic images previously converted to substitute checks, and electronic images with unreadable MICR information. Credit Union will notify Member of any Exception Items. You agree that if you wish to attempt to deposit any Exception Item to any of Member’s accounts with Credit Union, Member shall only do so by depositing the original item on which the Exception Item is based. Member acknowledges and agrees that even if Credit Union does not initially identify an electronic image as an Exception Item, the substitute check created by the Credit Union there from may nevertheless be returned to Credit Union because, among other reasons, the electronic image is deemed illegible by a paying bank. Credit Union’s failure to identify an Exception Item shall not preclude or limit the obligation of Member to Credit Union.
- Member’s Duty to Report Errors. Member shall notify Credit Union of any suspected errors or omissions regarding items deposited through the services right away and no later than 60 days after the applicable account statement is sent. Unless you notify us within 60 days, such statements regarding all deposits made through the Remote Deposit Anywhere shall be deemed correct, and you are prohibited from bringing a claim against us for such alleged errors.
- Service Warranty. Member performs the function of converting an original check to a substitute check. Therefore, Member understands and agrees that it is responsible, to the extent permitted by law, for all warranties and indemnifications set forth in Check 21 applying to any Reconverting Credit Union and Truncating Credit Union, as such terms are defined by Check 21, including, without limitation, the obligation to only convert an original check that allows for the creation of a substitute check that clearly and accurately represents the information on the front and back of the original check. Credit Union and its agents may, but shall have no obligation to, screen items or substitute checks for legal compliance. The Member agrees to defend, indemnify, and hold Credit Union and its agents harmless from and against all liability, damage and loss arising out of any claims, suits, or demands brought by third parties with respect to any such substitute checks.
- Disclaimer of Liability. MEMBER ACKNOWLEDGES THAT THE SERVICE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. THE CREDIT UNION IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS IN OR TO ANY INFORMATION RESULTING FROM MEMBER’S USE OF THE SERVICE. THE CREDIT UNION MAKES NO AND EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SERVICE INCLUDING THE WARRANTY OF TITLE AND THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE CREDIT UNION DISCLAIMS ANY WARRANTIES REGARDING THE OPERATION, PERFORMANCE OR FUNCTIONALITY OF THE SERVICE (INCLUDING, WITHOUT LIMITATION, THAT THE SERVICE WILL OPERATE WITHOUT INTERRUPTION OR BE ERROR FREE). MEMBER FURTHER ACKNOWLEDGES THAT THERE ARE CERTAIN SECURITY, CORRUPTION, TRANSMISSION ERROR AND ACCESS AVAILABILITY RISKS ASSOCIATED WITH USING OPEN NETWORKS SUCH AS THE INTERNET AND/OR TELECOMMUNICATION LINES OR CIRCUITS. MEMBER HEREBY ASSUMES ALL RISKS RELATING TO THE FOREGOING.
- Modification of Services: Credit Union reserves the right to modify the Remote Deposit Anywhere services from time to time without making prior notice to the Member. We reserve the right to change, suspend or discontinue the Remote Deposit Anywhere Services immediately and at any time without notice to you.
Last modified: November 19, 2013