Common use of Eligible Clause in Contracts

Eligible. Items You agree to scan and deposit only "checks" as that term is defined in Federal Reserve Regulation CC ("Reg. CC"). When the image of the check transmitted to SNB is converted to an image for subsequent presentment and collection, it shall thereafter be deemed an "item" within the meaning of Articles 3 and 4 of the Uniform Commercial Code. You agree that you will not scan and deposit any of the following types of checks or other items which shall be considered ineligible items: a) Checks payable to any person or entity other than the person or entity that owns the account that the check is being deposited into. b) Checks containing an alteration on the front of the check or item, or which you know or suspect, or should know or suspect, are fraudulent or otherwise not authorized by the owner of the account on which the check is drawn. c) Checks payable jointly, unless deposited into an account in the name of all payees. d) Checks previously converted to a substitute check, as defined in Reg. CC. e) Checks drawn on a financial institution located outside the United States. f) Checks that are remotely created checks, as defined in Reg. CC. g) Checks not payable in United States currency. h) Checks dated more than 6 months prior to the date of deposit. i) Checks or items prohibited by the bank's current procedures relating to the services or which are otherwise not acceptable under the terms of your account. j) Checks with any endorsement on the back other than that specified in this agreement. k) Checks that have previously been submitted through the Service or through a remote deposit capture service offered at any other financial institution. l) Checks that have previously been deposited or negotiated in any way via any method at SNB or any other financial institution.