Common use of Bank Processes and Check Collection Clause in Contracts

Bank Processes and Check Collection. All processes, policies and procedures of Bank associated with the acceptance of a deposit and the collection of checks shall be conducted in accordance with and subject to the terms and condition of the Deposit Account Agreement and in a manner that is exactly or substantially the same as processes used for deposits presented through a Bank teller window or other physical means. Such processes include but are not limited to the crediting of the depository account, the routing of checks for collection, the assignment of availability, the handling of checks returned by the drawee bank and the confirmation of the deposit by way of a periodic account statement.