Accepting Deposits
All items deposited will be handled by us as agent for you. If an item is sent by mail to the Bank for deposit, we will not consider it to be received until we have the actual item in our possession. For checks sent via mobile deposit, the check shall not be considered to have been received by the Bank until the Bank receives the valid electronic check image file. We have the right to refuse any deposit. We may not accept deposits in foreign funds or checks drawn on banks located outside of the United States. If we do accept a foreign deposit it may take up to 45 days to receive credit in your account. If we do choose to accept foreign checks, the items are subject to collection prior to being credited to your account.
We may disregard any information written or printed on a check other than the signature of the drawer, the identification of the bank on which the check is drawn, the name of the payee, and the electronically encoded routing information on the check.
The Bank reserves the right to reject a deposit if it is made payable to the Bank and contains no means to identify the account to which it should be credited.
Receipt of Deposits
All transactions received after our daily cut-off time on a business day we are open, or received on a day on which we are not open for business, will be treated and recorded as if received on the next business day that we are open. Saturday, Sunday and federal holidays are not considered business days. All checks, drafts and other items are conditionally credited to your account in U.S. dollars and are subject to our receipt of final payment for each item. We assume no responsibility for collections beyond the exercise of reasonable care. For deposited items, we are not responsible for the negligence of our correspondent banks or for the loss of “in transit” items.
Cash Deposits
Please do not send cash deposits through the mail. In the event that cash deposits are received, you agree that the Bank’s determination of the amount of the deposit will be final. The Bank is not liable for any deposits, including cash, lost in the mail, lost in transit, or not received by the Bank.
Direct Deposits
If we deposit any amount into your account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from your account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
If a direct deposit posts to your account and is later found to be made payable to someone other than yourself or another account owner listed in our records, the amount of the deposit will be deducted from your account and returned to the originator without prior notice to you.
Third-Party Checks
All checks deposited must be payable to you; the Bank will not accept third-party checks (including checks made payable to a business but submitted for deposit to your individual/joint account). Two-party checks may only be deposited into a joint account bearing both names. In the event the Bank receives and detects a third-party check, the Bank will not deposit the check into any account at the Bank. Third-party checks will be returned to you through the U.S. mail, and the Bank will not be liable for any checks that may become lost in the mail. If a check made payable to a third party is deposited to your account before we detect it, we may, without notice to you, debit your account and return the funds to you in the form of a Bank check. Third-party checks deposited through remote capture or mobile deposit (if available) may be rejected during processing. If we choose to allow a third-party check to be deposited, we do so at our discretion and will not be obligated to do so thereafter. The Bank reserves the right to reject a deposit if it is made payable to the Bank and contains no means to identify the account to which it should be credited.
Automated Clearing House Deposits
In order to transfer funds from an account that you own or have control of at another financial institution to your account at the Bank using the Automated Clearing House (“ACH”) Funds Transfer service, the Bank may require additional documentation or verification before activating this service. ACH transactions will not be processed and accessible until the ACH service is activated by the Bank, upon receipt and review of the requested documentation or verification.
Endorsements
You will endorse any check or other item submitted for deposit exactly as it was made payable to you. You warrant that all endorsements on items deposited to your account are genuine. Any endorsement must be placed in the one-inch area starting at the left side on the back of an item and the remaining area on the back of the item may not contain any preprinted, stamped or handwritten information. If you fail to do this, you may be required to reimburse us for losses incurred. In the absence of endorsement, you authorize us to supply any missing endorsements if items are made payable to you or your order and you have not endorsed them.
Deposited Items Returned
If final payment is not received on any item you deposited to your account, or if any direct deposit, ACH deposit or Electronic Fund Transfer to your account is returned to us for any reason, you agree to pay us the amount of the return. We may charge any account of which you are an owner, or re-present any item you deposit with us that is returned to us unpaid without prior notice to you. We may adjust any accrued interest on your account, and we may charge a fee for returned deposited items in accordance with our Schedule of Fees.
You authorize us to attempt collection of previously returned items that you deposited. In our attempts to collect these items, you agree that we may allow the payor bank (the bank on which the item is drawn) to hold the item beyond its midnight deadline. If an item you deposit is returned unpaid, you waive the requirement for notice of this return.
If a claim is made on any item subsequent to final payment on the grounds that the item was altered, bears a forged or unauthorized endorsement, or was not otherwise properly payable, we may withhold credit for the item from your account until final determination of the claim. In addition, we will not be liable for a check, draft or other item that you deposit that has been forged or altered in such a way that a reasonable person could not discover the forgery. The Bank may return or refuse to accept all or any part of a deposit or credit to an account at any time, and will not be liable to you for doing so, even if such action causes outstanding items to be dishonored and returned, or payment orders to be rejected. Refused deposits will be returned to you.
Disputes over Account Funds
The Bank may refuse to pay out any money from an account until it is documented to the Bank’s satisfaction that any dispute over the deposits or funds (including, without limitation, any dispute over what persons are authorized to represent or act for the owner) has been resolved by a court or by agreement of the parties. The Bank may file an action to join in a court action with respect to any money where the Bank has been notified of disputed claims to that money. If any person asserts that a dispute exists, the Bank is not required to determine whether that dispute has merit in order to refuse to pay funds or interplead the funds. You agree to reimburse the Bank for any expenses, including legal and attorneys’ fees, that the Bank incurs because of any dispute.