Common use of Acceptance of Checks for Deposit is a Service to You Clause in Contracts

Acceptance of Checks for Deposit is a Service to You. In handling checks, drafts, items, or money for deposit or collection we are providing you a service (assisting you in collecting payment for the deposit) and act only as your agent, and assume no responsibility for the check, draft or item beyond that of the exercise of ordinary care. We are not responsible for any deposit sent by mail or made at an unstaffed facility (for example, an automated teller machine (ATM) that is not at a branch) until we actually receive the deposited item or money. We are not responsible or liable for the negligence or default of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We reserve the right to refuse and/or return any check, draft, item or funds transfer taken for deposit, to place a reasonable hold on the check, draft or item, or to send the check, draft or item for collection. We also reserve the right to charge your account for any check, draft or item taken for deposit in the event it becomes lost in the collection process.