Common use of Mobile Check Deposits Clause in Contracts

Mobile Check Deposits. You can deposit checks into your SoFi Checking or Savings account remotely using your smartphone, tablet or other camera‐enabled device by accessing the Mobile Deposit feature of the SoFi Mobile App. SoFi Bank does not accept physical checks for deposit in-person, by mail, by night depository or any other means. To activate the Mobile Deposit feature, your SoFi Account generally must have received deposits totaling at least $500 since your Account was first opened. The precise amount of deposits required for your Account will be determined by SoFi based on your Account history and other information. SoFi shall notify you of the precise amount of deposits required within the Mobile Deposit flow. SoFi reserves the right to adjust this threshold at any time. You can only deposit mobile checks into your SoFi Account that are denominated in U.S. Dollars and are drawn on U.S. depository institutions (including a U.S. branch of a foreign bank). All checks deposited via the Mobile Deposit feature must be endorsed. An endorsement is a signature, stamp or other mark made on a check to transfer the check to another person. If a check you deposited does not have your endorsement, we may endorse it for you or treat the check as if we had endorsed it. Also, any deposited check that appears to contain your stamped or facsimile endorsement will be treated as if you had actually endorsed it. We are not bound by any conditional or restrictive endorsements on a check you cash or deposit, or by any endorsement “without recourse.” You may not deposit third‐party endorsed checks (i.e., a check originally made payable to another person that has been endorsed to you) into your SoFi Bank Account. When depositing a check via Mobile Deposit, we require that you add the notation “For Mobile Deposit only at SoFi Bank” to your endorsement of the check. Once you have deposited a check via Mobile Deposit, you agree to retain the original paper check in a safe place for thirty (30) days in case there is any issue with reading the uploaded check image or otherwise in processing the check, after which time you will destroy the original paper check. For all checks deposited via Mobile Deposit, you represent and warrant that neither you nor anyone else has previously presented the check for deposit or payment, whether in paper form or electronically, and you agree that no one will in the future present such check for payment, in paper form or electronically, except to the extent SoFi Bank requests that such item be redeposited. In the event a check is deposited via Mobile Deposit without the restrictive endorsement “For Mobile Deposit only at SoFi Bank” or is otherwise deposited via Mobile Deposit and subsequently deposited through another financial institution, you will be liable for any losses, penalties and fees incurred in connection with such subsequent deposit. If you do not endorse your check properly and it causes us a loss, cost or expense, you may have to pay that amount to us.

Mobile Check Deposits. You can deposit checks into your SoFi Checking or Savings account remotely using your smartphone, tablet or other camera‐enabled device by accessing the Mobile Deposit feature of the SoFi Mobile App. SoFi Bank does not accept physical checks for deposit in-person, by mail, by night depository or any other means. To activate the Mobile Deposit feature, your SoFi Account generally must have received deposits totaling at least $500 since your Account was first opened. The precise amount of deposits required for your Account will be determined by SoFi based on your Account history and other information. SoFi shall notify you of the precise amount of deposits required within the Mobile Deposit flow. SoFi reserves the right to adjust this threshold at any time. You can only deposit mobile checks into your SoFi Account that are denominated in U.S. Dollars and are drawn on U.S. depository institutions (including a U.S. branch of a foreign bank). All checks deposited via the Mobile Deposit feature must be endorsed. An endorsement is a signature, stamp or other mark made on a check to transfer the check to another person. If a check you deposited does not have your endorsement, we may endorse it for you or treat the check as if we had endorsed it. Also, any deposited check that appears to contain your stamped or facsimile endorsement will be treated as if you had actually endorsed it. We are not bound by any conditional or restrictive endorsements on a check you cash or deposit, or by any endorsement “without recourse.” You may not deposit third‐party endorsed checks (i.e., a check originally made payable to another person that has been endorsed to you) into your SoFi Bank Account. When depositing a check via Mobile Deposit, we require that you add the notation “For Mobile Deposit only at SoFi Bank” to your endorsement of the check. Once you have deposited a check via Mobile Deposit, you agree to retain the original paper check in a safe place for thirty (30) days in case there is any issue with reading the uploaded check image or otherwise in processing the check, after which time you will destroy the original paper check. For all checks deposited via Mobile Deposit, you represent and warrant that neither you nor anyone else has previously presented the check for deposit or payment, whether in paper form or electronically, and you agree that no one will in the future present such check for payment, in paper form or electronically, except to the extent SoFi Bank requests that such item be redeposited. In the event a check is deposited via Mobile Deposit without the restrictive endorsement “For Mobile Deposit only at SoFi Bank” or is otherwise deposited via Mobile Deposit and subsequently deposited through another financial institution, you will be liable for any losses, penalties and fees incurred in connection with such subsequent deposit. If you do not endorse your check properly and it causes us a loss, cost or expense, you may have to pay that amount to us.thirty

Mobile Check Deposits. You can deposit checks into your SoFi Checking or Savings account remotely using your smartphone, tablet or other camera‐enabled device by accessing the Mobile Deposit feature of the SoFi Mobile App. SoFi Bank does not accept physical checks for deposit in-person, by mail, by night depository or any other means. To activate the Mobile Deposit feature, your SoFi Account generally must have received deposits totaling at least $500 since your Account was first opened. The precise amount of deposits required for your Account will be determined by SoFi based on your Account history and other information. SoFi shall notify you of the precise amount of deposits required within the Mobile Deposit flow. SoFi reserves the right to adjust this threshold at any time. You can only deposit mobile checks into your SoFi Account that are denominated in U.S. Dollars and are drawn on U.S. depository institutions (including a U.S. branch of a foreign bank). All checks deposited via the Mobile Deposit feature must be endorsed. An endorsement is a signature, stamp or other mark made on a check to transfer the check to another person. If a check you deposited does not have your endorsement, we may endorse it for you or treat the check as if we had endorsed it. Also, any deposited check that appears to contain your stamped or facsimile endorsement will be treated as if you had actually endorsed it. We are not bound by any conditional or restrictive endorsements on a check you cash or deposit, or by any endorsement “without recourse.” You may not deposit third‐party endorsed checks (i.e., a check originally made payable to another person that has been endorsed to you) into your SoFi Bank Account. When depositing a check via Mobile Deposit, we require that you add the notation “For Mobile Deposit only at SoFi Bank” to your endorsement of the check. Once you have deposited a check via Mobile Deposit, you agree to retain the original paper check in a safe place for thirty (30) days in case there is any issue with reading the uploaded check image or otherwise in processing the check, after which time you will destroy the original paper check. For all checks deposited via Mobile Deposit, you represent and warrant that neither you nor anyone else has previously presented the check for deposit or payment, whether in paper form or electronically, and you agree that no one will in the future present such check for payment, in paper form or electronically, except to the extent SoFi Bank requests that such item be redeposited. In the event a check is deposited via Mobile Deposit without the restrictive endorsement “For Mobile Deposit only at SoFi Bank” or is otherwise deposited via Mobile Deposit and subsequently deposited through another financial institution, you will be liable for any losses, penalties and fees incurred in connection with such subsequent deposit. If you do not endorse your check properly and it causes us a loss, cost or expense, you may have to pay that amount to us. You can request the cancellation of a pending mobile check deposit by calling us or through SoFi chat, provided that the request is received by SoFi Bank within the following timeframes. If you deposit a mobile check before 5:30 p.m. ET on a Business Day, you must notify SoFi Bank by 5:30 p.m. ET on the same day to successfully cancel the mobile check deposit. If the deposit is made on a non-Business Day, you must notify SoFi Bank by 5:30 p.m. ET on the following Business Day to successfully cancel the mobile check deposit. If you request the cancellation of a pending mobile check deposit, we will attempt to cancel such pending mobile check deposit but cannot guarantee that it will be canceled.