Common use of Receipt of Deposit Clause in Contracts

Receipt of Deposit. All Images processed for deposit through Mobile Check Deposit will be treated as “deposits” under this Agreement and the Deposit Account Agreement. Notwithstanding the fact that we have accepted a deposit through Mobile Check Deposit for processing, any credit made to your Account shall be provisional as further described in the “FUNDS AVAILABILITY” section below, and you shall remain liable to us for any errors, inaccuracies, breach of warranties and any other loss sustained by, or claim made against us. We shall have no liability to you for the rejection of a deposit through Mobile Check Deposit or the Images or other information contained therein or for our failure to notify you of such rejection. We are not responsible for any Image that we do not receive. We reserve the right, at our sole and absolute discretion, to reject any Image for deposit into your Account. We will use commercially reasonable efforts to notify you of rejected Images by phone, email or other means. Following receipt, we may process the Image by preparing a Substitute Check or clearing the item as an Image. FUNDS AVAILABILITY Funds from Checks deposited using the Mobile Deposit Services may not be immediately available to you and will be available in accordance with the Bank’s Funds Availability Policy as amended from time to time. Deposits submitted using Mobile Check Deposit before 4:00 P.M. EST on a Business Day will be considered deposited on that day. Deposits submitted using Mobile Check Deposit after 4:00 P.M. EST and deposits received on a Saturday, Sunday or Federal holiday will be considered deposited on the next Business Day. Funds from deposits made using Mobile Check Deposit will generally be available on the second Business Day after the day of your deposit. However, we may make such funds available sooner based on such factors as credit worthiness, the length and extent of your relationship with us, transaction and experience information, and such other factors as we, in our sole discretion, deem relevant.

Receipt of Deposit. All Images images processed for deposit through Consumer Mobile Check Remote Deposit will be treated as “"deposits” " under this your current Account Agreement with us and will be subject to all terms of the Account Agreement and the Deposit Account any amendments to such Agreement. Notwithstanding When we receive an image, we will confirm to you via email that you submitted the fact that we have accepted a deposit through Mobile Check Deposit image. It is your responsibility to record your confirmation number for processing, any credit made to your Account shall be provisional as further described in the “FUNDS AVAILABILITY” section below, and you shall remain liable to us for any errors, inaccuracies, breach of warranties and any other loss sustained by, or claim made against usreference. 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 liability errors or that it has been approved for crediting. A status of "pending" does not indicate that the submitted item has been accepted. There will be no subsequent notification that a submitted image has been credited to your account. If, however, your submission is rejected you for the rejection of a deposit through Mobile Check Deposit or the Images or other information contained therein or for our failure to notify you will receive an email confirmation of such rejectionrejection within three (3) business days from Penn Community Bank. It will be your responsibility to check any notifications from Penn Community Bank that pertain to such rejected submissions and contact us to address this issue. We are not responsible for any Image image that we do not receive. You agree to securely keep the original check for seven (7) business days. You will be able to monitor the crediting of your deposit submission by reviewing your balance through online banking, mobile banking, telephone banking, the Customer Care Center, or by stopping by your local branch. You agree that the electronic image of the original check or any substitute check, as defined by federal law, will become the legal representation of such item for all purposes (except for funds availability). You acknowledge that Federal Reserve Board Regulation CC (availability of funds) does not apply when you transmit the electronic images of deposit items to us. Funds from deposits made via Consumer Mobile Remote Deposit and confirmed as submitted prior to 4pm Eastern Time generally will be considered deposited on the date of submission and available for withdrawal by the second business day after the deposit. Funds from the deposits made via Consumer Mobile Remote Deposit and confirmed as submitted after 4pm Eastern Time generally will be considered as deposited on the next business day and available for withdrawal by the second business day after the day of deposit. However, we may apply additional delays on the availability of funds based on other factors as determined by us in our sole discretion. Please refer to our website for information regarding holidays or special occasions which may result in an earlier cutoff time. 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 or refuse any Image part of the deposit to your Account using Consumer Mobile Remote Deposit at any time and will not be liable for deposit into doing so even if such action causes outstanding checks or other debits to your AccountAccount to be dishonored and returned. We will use commercially reasonable efforts to notify you of rejected Images by phoneimages. Business Days Our business days are Monday through Friday, email or other meansexcluding Saturday, Sunday and Bank observed holidays. Following receiptOriginal checks After you receive confirmation that we have received an image, we may process you must securely store the Image by preparing a Substitute Check or clearing original check for seven (7) business days after transmission to us and make the item as an Imageoriginal check accessible to us at our request. FUNDS AVAILABILITY Funds from Checks deposited using the Mobile Deposit Services may not be immediately available to you and will be available in accordance with the Bank’s Funds Availability Policy as amended Upon our request from time to time, you will deliver to us within three (3) business days, at your expense, the requested original check in your possession. Deposits submitted using Mobile Check Deposit before 4:00 P.M. EST on If not provided in a Business Day timely manner, such amount will be considered deposited on that dayreversed from your account. Deposits submitted using Mobile Check Deposit Promptly after 4:00 P.M. EST such period expires, you must destroy the original check by first marking it "VOID" and deposits received on a Saturdaythen destroying it by cross-cut shredding or another commercially acceptable means of destruction. After destruction of an original check, Sunday or Federal holiday the image will be considered the sole evidence of the original check. You should review your account to make sure that the item to be destroyed has been credited to your account. You agree that you will never re-present the original check unless we have asked you to do so in writing. 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 Consumer Mobile Remote Deposit is provisional. If original checks deposited through Consumer Mobile Remote 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 next Business Day. Funds from deposits made using Mobile Check Deposit will generally be available image and on the second Business Day after original check are legible, genuine, and accurate. • You will not deposit or otherwise endorse to a third party the day 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 your deposit. However, we may the original check such that the person will be asked to make such funds available sooner payment based on such factors 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. • You will not deposit through the Consumer Mobile Remote Deposit Service any item that was previously deposited and returned to you unless we have asked you otherwise in writing. You will only transmit deposit items that originated as credit worthinesspaper items. • You will only use Consumer Mobile Remote Deposit only for lawful purposes and will comply with all the laws and regulations applicable to you in your use of Consumer Mobile Remote Deposit and will not use this service for any purpose prohibited by foreign exchange regulations, the length postal regulations or any other regulations or statues. With respect to each image, you make to us all representations and extent 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 or any of your relationship with us, transaction and experience information, and such other factors as we, in our sole discretion, deem relevantservice providers.