Common use of Account Reconciliation Clause in Contracts

Account Reconciliation. You will verify and reconcile any out-of-balance condition, and promptly notify us of any errors (exclusive of weekends and applicable holidays) within 60 days after receipt of your statement from us. If notified within such period, we shall correct and resubmit all erroneous files, reports, and other data at our then standard charges, or at no charge, if the erroneous report or other data directly resulted from our error. We agree to transmit all the financial data under our control required to utilize Mobile Deposit and to act on appropriate instructions received from you in connection with Mobile Deposit. We shall exercise due care in seeking both to preserve the confidentiality of your number, password, test key, or other code or identifier and to prevent the use of Mobile Deposit by unauthorized persons (and in this connection it is understood and agreed that implementation by us of our normal procedures for maintaining the confidentiality of information relating to our members, shall constitute due care) but shall not otherwise be under any liability of any kind for any loss incurred or damage suffered by you by reason of any misuse or unauthorized use of Mobile Deposit or disclosure of any confidential information of yours. When we review and process your electronic check, we may reject any electronic image that we, in our sole discretion, determine to be ineligible for Mobile Deposit including, without limitation, items drawn on U.S. Banks in foreign currency, electronic images that are illegible, electronic images of items previously processed or converted to substitute checks, and electronic images with unreadable MICR information. We will notify you of any Exception Items. You agree that you shall only deposit Exception Items to your accounts by depositing the original item on which the Exception Item is based. You acknowledge and agree that even if we do not initially identify an electronic image as an Exception Item, the substitute check created by us there from may nevertheless be returned to us because, among other reasons, the electronic image is deemed illegible by a paying bank. Our failure to identify an Exception Item shall not preclude or limit the obligation of you to us.

Account Reconciliation. a. You must examine the periodic statement for each Account with “reasonable promptness.” You agree that the time to examine the statement and report to us will verify and reconcile depend on the circumstances, but that such time will not, in any out-of-balance conditioncircumstance, and exceed a total of fifteen (15) days from the date that the statement is first made available to you. b. If you discover (or reasonably should have discovered) any unauthorized payments or alterations, you must promptly notify us of the relevant facts. You must furnish the following information to us: (i) your name and Account number; (ii) a description of the error or transfer, and a complete explanation of the error, or request for more information; and (iii) the dollar amount of the suspected error; and any errors (exclusive of weekends and applicable holidays) within 60 days after receipt of your statement from other information required by us. If notified within such periodyou contact us by telephone, we may require that you send the complaint or question in the form of a paper writing by postal mail or fax within ten (10) Business Days. If you fail to give us written notice of a discrepancy or error within the fifteen (15) day period specified above, then we shall correct and resubmit all not (i) be liable for any loss of interest with respect to an unauthorized or erroneous files, reports, and other data at our then standard charges, debit relating to a W ire Transfer Request or at no charge, if the erroneous report Change Request or other data directly resulted from our error. We agree to transmit all discrepancy shown in the financial data under our control required to utilize Mobile Deposit confirmation and to act on appropriate instructions received from you in connection with Mobile Deposit. We shall exercise due care in seeking both to preserve the confidentiality of your number, password, test key, or other code or identifier and to prevent the use of Mobile Deposit by unauthorized persons (and in this connection it is understood and agreed that implementation by us of our normal procedures for maintaining the confidentiality of information relating to our members, shall constitute due careii) but shall not otherwise be under required to compensate you or credit your applicable account with respect to any liability actual or claimed loss of interest or any kind for interest equivalent. c. If you fail to perform any of these duties, you will have to either share the loss incurred with us or damage suffered by you by reason of any misuse bear the loss entirely (depending on whether we exercised ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items, transfers, or payments on the statement, but other items forged or altered, or unauthorized use of Mobile Deposit transfers or disclosure of any confidential information of yourspayments made by the same wrongdoer. When we review and process your electronic checkIf you do not report to us as provided in subsection (a) or (b) above, we may reject any electronic image that we, in our sole discretion, determine to be ineligible for Mobile Deposit including, without limitation, items drawn on U.S. Banks in foreign currency, electronic images that are illegible, electronic images of items previously processed or converted to substitute checks, and electronic images with unreadable MICR information. We will notify you of any Exception Items. You agree that you shall only deposit Exception Items will be liable for the full amount of the item, transfer or payment and we will not be responsible for the payment of any interest to your accounts by depositing the original item on which the Exception Item is basedyou. You acknowledge and further agree that even if you fail to report any unauthorized signature, alteration, forgery, transfer or payment or any other error in any Account within thirty (30) days of when we do make the statement available, you cannot initially identify an electronic image as an Exception Itemassert a claim against us on any item, transfer, payment or other error in that statement, and the substitute check created by loss will be entirely yours. This 30-day limitation is without regard to whether we exercised ordinary care. In that event, you will be liable for the full amount of the item, transfer or payment and we will not be responsible for the payment of any interest to you. Not in limitation of the foregoing, if you fail to give us there the written notice required above within such thirty (30) day period, you shall be deemed to have waived any right to the payment associated with such request and you shall be precluded from may nevertheless be returned asserting that we are not entitled to us because, among other reasons, retain the electronic image payment associated with such request. This limitation is deemed illegible by a paying bank. Our failure in addition to identify an Exception Item shall not preclude or limit the obligation of you to us.those contained elsewhere in this Wire Addendum and under applicable law