Items Sent For Collection. We may refuse to accept a check or other item for deposit or may accept it on a collection basis only. This sometimes occurs with foreign, questionable or damaged items. If we accept an item for collection, we will send it to the institution upon which it is drawn, but will not credit your account for the amount until we receive the funds from the other institution. If we elect to credit your account before we receive the funds, we may charge the amount back against your account if we do not receive payment for any reason. We are obligated only to use ordinary care in collecting items on your behalf. You agree that we have sole discretion to determine whether to accept an item or check for deposit or collection. We may notify you that an item is not a deposit, but rather a collection item, as soon as practicable after we decide to handle the item as a collection item. This may include after you have left a branch office. Items drawn on a non-U.S. bank or payable in foreign currency are handled on a collection basis only. We and other institutions may each impose a fee in connection with sending and receiving items for collection. Please see the Fee Schedule (“Check/Draft Collections Domestic/ Int’l”). You waive any notice of nonpayment, dishonor, or protest regarding any items purchased or received by us for credit to your account or for collection. An item or check accepted for collection will not be deemed accepted for deposit for purposes of Regulation CC and is not governed by our funds availability policy. Verification and Collection Any item that we cash or accept for deposit is subject to later verification and final payment. We may deduct funds from your account if an item is lost, stolen or destroyed in the collection process, if it is returned to us unpaid, or if it was improperly paid, even if you have already used the funds. You are responsible for the condition of an item when you issue it, or present it for deposit to your account. If an item is returned or payment is delayed as a result of any writing or marking that you or a third party placed on the front or back of the item, you will be responsible for any costs or liabilities incurred as a result. Although we may make funds provisionally available to you and may take steps to determine whether a check will be paid, you are responsible for any loss that occurs if the check is returned to us for any reason (for example, because it is counterfeit).
Items Sent For Collection. We and other institutions may refuse to accept a check or other item for deposit or may accept it on a collection basis only. This often occurs with foreign, questionable or damaged items. If we accept an item for collection, we will send it to the institution upon which it is drawn, but will not credit your account for the amount until we receive the funds from the other institution. If we elect to credit your account before then, we may charge the amount back against your account if we do not receive payment for any reason even if this causes your account to be overdrawn. We may impose a fee in connection with sending and receiving items for collection (e.g., by charging your account or deducting the fee from the amount remitted). Other institutions that send or receive items for collection involving your account also may impose a fee for their services.
Items Sent For Collection. We may choose to accept some checks on a collection basis rather than as a deposit. If we send an item for collection, we will send it to the institution upon which it is drawn, but we may not credit your account for the amount until we receive final payment for the check from the other institution. This often occurs with foreign, questionable or damaged items. We can reverse any amount we have added to your account for a deposited check and send the check on a collection basis even after we have taken physical possession of the check. We may not notify you at the time the deposit is made that an item is being sent for collection. If we elect to credit your account before then, we will charge the amount back against your account if we do not receive payment for any reason. We are not obligated to dispute the reason for any return, including that the return may not comply with timing or other requirements of law or clearinghouse rules. We may impose a fee in connection with sending and receiving items for collection (e.g., by charging your account or deducting the fee from the amount remitted). Other institutions that send or receive items for collection involving your account also may impose a fee for their services.
Items Sent For Collection. We and other institutions may refuse to accept a check or other item for deposit or may accept it on a collection basis only. This often occurs with foreign, questionable or damaged items. If we accept an item for collection, we will send it to the institution upon which it is drawn, but will not credit your account for the amount until we receive the funds from the other institution. If we elect to credit your account before then, we may charge the amount back against your account if we do not receive payment for any reason even if this causes your account to be overdrawn. Other institutions that send or receive items for collection involving your account may impose a fee for their services. Lost Items We act only as your collection agent when receiving items for deposit. Be aware that we reserve the right to reverse the credit for any deposited item should they become lost, mutilated, or destroyed while in the process of collection. If we do not reverse a credit, you agree to assist us in collecting the amount of any lost items by providing us with such information and other assistance as we request.
