Remote Deposit Disclosure
Federal law gives you the right or option to have disclosures provided to you electronically or made available on paper in a non-electronic format. If you provide your consent below, we will provide you with electronic disclosures and agreements ("Disclosures") for Teachers Credit Union's ("TCU") Remote Deposit Capture Program. This consent only applies to this program and you may withdraw your consent at any time.
To view the Disclosures you will need an Internet Explorer browser (Version 5.0 or greater) to receive the Disclosures electronically. You will also need access to a printer or the ability to download information in order to keep copies for your records. If either Browser releases updated versions after you consent to receive electronic disclosures, you may need to download the upgraded version of the Browser in order to access and print the Disclosures in the future. If this is the case, you will be directed to a site containing links to the appropriate Browser download pages where you will be able to download the updated version at no cost.
You may revoke your consent to obtain electronic copies of the Disclosures at any time. If you prefer to revoke your consent and request paper copies, after consenting to receive electronic Disclosures, you may do so at any time, at no cost. To obtain paper copies of the Disclosures, please email us at firstname.lastname@example.org or contact us by phone at 800-552-4745. Your request for paper copies will apply to all new Disclosures printed after the date of your notice.
By accepting the terms of the Remote Deposit Capture Agreement, you are also providing consent to have the Disclosures for the TCU Remote Deposit Capture Program provided to you electronically through the Internet Browser.
- We, us, and our refer to the Depository Financial Institution.
- You and your refer to the Depository Company.
- Agreement refers to this Remote Deposit Capture Agreement
- Account refers to your checking or share draft account with us which is identified by the Account Number.
- Qualifying items refer to checks as defined in 12 CFR 229.2 (including share drafts and remotely created checks) drawn on financial institutions located in the United States.
- Remote Deposit refers to your deposit of Qualifying Items to the Account by indorsing the paper originals, placing our name and the word "scanned" on them, and then scanning both sides of them and sending their accurate images to us, together with deposit instructions, via the Internet, rather than by providing us with the paper originals.
- Banking Day refers to one of our banking days as defined in 12 CFR 229.2.
- Business Day refers to a business day as defined in 12 CFR 229.2.
- Other terms have the meanings provided in the applicable Uniform Commercial Code.
Remote Deposit Requirements:
You can make Remote Deposits if, but only if, you satisfy all the Scanner and Related Hardware and Software Requirements, Image Quality Requirements, and other requirements of this Agreement.
Image Quality Requirements:
The images of Qualifying Items you send us will be sufficiently inclusive and high quality to permit us to satisfy all pertinent requirements of the following: the Check 21 Act, 12 USC 5001, etc seq.; all related laws or regulations; all other state of federal laws and regulations; The American Nationals Standards Institute; The Electronic Check Clearing House Organization; and all other clearing houses or associations.
Remote Deposit Limits:
The total number of Qualifying Items that can be transmitted to us under this Agreement is unlimited. The total dollar amount of Qualifying Items that can be transmitted to us under this Agreement is limited to $1,000.00 per day or the amount disclosed to you personally.
The deadline (Receipt Deadline) for our receipt of Remote Deposits is 5pm eastern on a Banking Day. Any Remote Deposits not received on a Banking Day or not received in their entirety by the Receipt Deadline on a Banking Day will be considered to have been received on the next Banking Day.
Acceptance or Rejection Deadline:
The deadline (Acceptance or Rejection Deadline) for our sending you either acceptances for deposit or rejections with respect to Qualifying Items included in your Remote Deposit is after the next Banking Day after we receive the Remote Deposits. We will send you acceptances for deposits or rejections via the Internet, and they will be effective when sent whether or not they are received by you. Such acceptances for deposit or rejections will reasonably identify each of the Qualifying Items accepted and each of the Qualifying Items rejected. If we do not send you either an acceptance for deposit or a rejection with respect to a Qualifying Item included in a received Remote Deposit by the Acceptance or Rejection Deadline, the Qualifying Item will automatically be rejected.
Retention/Destruction of Original Items:
You will retain and preserve the paper original of each Qualifying Item included in a Remote Deposit for the period of 30 days after it is accepted for deposit and will destroy it immediately after the expiration of that period.
By clicking Accept, you and we agree to be bound by this Agreement, including the Terms and Conditions, which are incorporated by reference, and you acknowledge receipt of a copy.
Terms and Conditions:
Internet Addresses and Other Information. You and we will provide each other with Internet addresses and other information as needed for the purposes of this Agreement and will update such information as needed.
Acceptance Required. We will credit your Account for a Qualifying Item included in a Remote Deposit if, but only if, we have received it and it has been accepted for deposit. We can reject an item included in a Remote Deposit for any reason or for no reason at all.
Provisional Credit Only. Any credit to your Account of a Qualifying Item included in a Remote Deposit (including Qualifying Items drawn "on us") is provisional only until collection is final. Until final settlement, we will act only as your agent, regardless of the form of indorsement or lack of indorsement on a Qualifying Item, even if we have provisionally credited your Account. We can reverse any provisional credit to your Account of a Qualifying Item included in a Remote Deposit that is lost, stolen, or returned. You will indemnify us and hold us harmless from any loss we may incur as a result of our lawfully reversing a provisional credit to your Account.
Failures or Alterations in Transmission. We will not be liable for any failures or alterations in the transmission of Remote Deposits to us.
Presentment/Collection. Presentment and collection of Qualifying Items included in Remote Deposits will be by any means and through any clearing agents we deem appropriate, and you consent to any applicable clearing house rules.
Funds Availability. Funds from Qualifying Items included in Remote Deposits will be available to you at such times after their acceptance for deposit under this Agreement as they would be available to you after their acceptance for deposit had they been deposited as paper originals in person to one of our employees at our main facility (under our policies as reflected in our then current funds availability disclosure and 12 CRF 229.10, et seq.). Even after funds are available to you and have been withdrawn, you will still be responsible for returned items or any other problems with the Remote Deposit.
Warranties. Unless prohibited by law, by making Remote Deposits you make the following warranties to us and agree to indemnify us and hold us harmless from any breach of such warranties, including payment of our reasonable attorneys' fees and litigation expenses:
- That you were entitled to deposit each of the Qualifying Items included in your Remote Deposits;
- That only paper originals of bonafide Qualified Items have been scanned for Remote Deposit;
- That each of the Qualifying Items included in your Remote Deposits was duly authorized in the amount stated on the Qualifying Item and to the payee stated on the Qualifying Item;
- That there was and will be no duplication among Qualifying Items included in your Remote Deposits;
- That you will not deposit or redeposit the paper originals of the Qualifying Items included in your Remote Deposits or make any other deposits or redeposits of such Qualifying Items without our informed consent;
- That we will not suffer any loss as a result of your Remote Deposits;
- That we will not suffer any loss as a result of your retention or destruction of the paper originals of Qualifying Items included in your Remote Deposits;
- That all information you provide to us regarding your Remote Deposits will be accurate;
- That your Remote Deposits and all information you provide to us will be virus-free;
- That your Remote Deposits will not violate any laws; and
- That you have performed and will perform all your obligations under this Agreement
Return Items. If Qualifying Items included in your Remote Deposits are returned, we will provide you with images or substitute checks of the returned items, rather than the paper originals.
Statements. You will examine your statement of account and report to us any alterations or unauthorized signatures purporting to be yours or on your behalf relating to Remote Deposits that you discover, or reasonably should have discovered, with reasonable promptness. Reasonable promptness for this purpose will not exceed 14 days in Montana, New York, or South Carolina, or 30 days in other states, from when the statement was first sent or made available to you. If you do not make such a report with reasonable promptness, you cannot assert against us such alterations or unauthorized signatures, or any others made by the same wrong doer before we receive such a report, unless we failed to exercise good faith, or in all states except Tennessee unless we failed to exercise reasonable care. If we failed to exercise reasonable care, in all states except Tennessee, New York, or South Carolina, the loss will be allocated between you and us according to the extent to which your and our failure to exercise reasonable care contributed to the loss. In addition, in all states, if you do not discover and report to us any such alterations or unauthorized signatures or any other issues regarding Remote Deposits within 60 days from when the statement including the Remote Deposits was first sent or made available to you, you cannot assert them against us, even if we failed to exercise reasonable care.
Information and Access. You will promptly provide us with any information, including financial information, we request that is pertinent in any way to your Remote Deposits or this Agreement. In addition, upon our request you will grant us access to your documents and records sufficient to permit us to determine whether you are complying with the requirements of this Agreement.
Irreconcilable Conflicts. This Agreement supersedes your account agreement to the extent of any irreconcilable conflicts.
Circumstances Beyond Our Control. We will not be responsible for any failure to act or delay in acting pursuant to this Agreement if the failure or delay is the result of circumstances beyond our control including, but not limited to, legal constraint, interruption of transmission or communication facilities, equipment failure, or war emergency conditions.
Standard of Care. Unless otherwise required by law, our standard of care in connection with this Agreement is limited to ordinary care.
Limitation on Damages. Unless otherwise required by law, we will not under any circumstances be liable for attorneys' fees; litigation expenses; or consequential, special, incidental, indirect, or punitive damages.
Duration and Termination. This Agreement will continue until it is terminated. We can terminate it immediately without notice if you are in default or if we suspect that you are engaged in illegal activity. Either party can terminate this Agreement without cause by giving 30 days advance written notice of termination.
Changes. We can change the provisions of this Agreement, other than the above stated right to terminate without cause, by giving you 30 days advance written notice of the changes.
Waiver. We can waive rights under, and violations of, this Agreement without affecting other rights under, or other violations of, this Agreement.
Assignment. You are not entitled to assign this Agreement or your rights and obligations under this Agreement without our consent.
Benefit. This Agreement is for your benefit and our benefit only, and no other entities have rights under this Agreement.
Invalidity. The invalidity or illegality of any provision of this Agreement will not affect the remainder of this Agreement.
Governing Law. This Agreement will be governed by the laws of the state or jurisdiction where the Account is located.
Other Conditions. You further agree:
- That you will not (i) modify, change, alter, translate, create derivative works from, reverse engineer, disassemble or decompile the technology or Remote Deposit Service, (ii) copy or reproduce all or part of the technology or Remote Deposit Service; or (iii) interfere, or attempt to interfere, with the technology or Remote Deposit Service.
- That you will not deposit or otherwise indorse to a third party the original item (the original check) and no person will receive a transfer, presentment, or return of, or otherwise be charged for, the item (either the original item, or a paper or electronic representation of the original item) such that the person will be asked to make payment based on an item it has already paid.
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