DEPOSIT CAPTURE Clause Samples

DEPOSIT CAPTURE. The Mobile Remote Deposit Capture Services (“Mobile RDC”) allow you to make deposits to your designated eligible accounts by using a compatible mobile phone or other handheld device to scan original paper checks and electronically deliver the images and associated deposit related information to us. Your enrollment in and use of Mobile RDC constitutes your acceptance of the Terms of Use set forth below. Your use of Mobile RDC is also governed by this Agreement, the Mobile Banking Services Terms of Use and Mobile Banking End User License Agreement.
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DEPOSIT CAPTURE. This Section contains the terms and conditions that are specific to the mobile remote deposit capture (mRDC) feature we have added to our Business Mobile Banking Services. mRDC is also subject to all the other Sections of this Agreement. mRDC allows you to make deposits to your checking, savings or money market accounts with us using your camera-enabled mobile device capable of capturing check images and information, and electronically delivering the images and associated information to our designated processor or us. The mobile device must capture an image of the front and back of each check to be deposited, including the magnetic ink character recognition line on each check, and such other information as required by this Agreement or applicable law. Such other information includes, but is not limited to, certain technical information such as your IP Address, mobile device identifier, and may also include your longitude and latitude at the time the image is transferred to us. You agree only to capture images of “checks” as that term is defined in Federal Reserve Regulation CC (“Reg. CC”). When the image is converted to an Image Replacement Document (IRD) for subsequent presentment and collection, it shall be deemed an “item” within the meaning of Articles 3 and 4 of the Uniform Commercial Code. You agree to not capture images of any of the following types of checks or other items, which shall be considered ineligible items:  Checks payable to anyone other than the owner of the account into which it is being deposited;  Checks drawn or issued by you; or drawn by others against an account on which you are a joint owner or authorized signer;  Checks containing any unauthorized alteration;  Checks payable jointly, unless deposited into an account with the names of all payees;  Checks previously converted to a substitute check, as defined in Reg. CC;  Checks drawn on a foreign bank and/or that are not payable in United States currency;  Checks that are payable on sight or payable through drafts, as defined in Reg. CC, or are remotely created checks, as defined in Reg. CC;  Checks that are undated, post-dated, or are dated more than 6 months prior to the date of deposit;  Checks with any endorsement on the back other than that specified in this Agreement;  Checks that have previously been deposited by any remote capture or physical delivery;  Checks or items that are drawn or otherwise issued by the U.S. Treasury Department;  Checks that have previo...
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Related to DEPOSIT CAPTURE

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Deposit Limits We reserve the right to impose limits on the amount(s) and/or number of deposits that you transmit using the Services and to modify such limits from time to time.

  • Deposit Account If you are issued a secured Card, you have signed or will be required to sign a separate security agreement pledging a specific, non-withdrawable portion of your shares and/or deposits in BECU to secure your Card. The amount of the security for such a Card is the amount of your credit limit and you may not have any access to or control of that amount.