Common use of Non-permissible Checks Clause in Contracts

Non-permissible Checks. You may use the Service only to process the deposit of original paper Checks that are payable to you. Unless we specifically agree otherwise in writing, you may not use the Service to deposit (each of the following a “Non-Permissible Check”): (a) Checks payable to a third party (even if endorsed over to you); (b) demand drafts or remotely created checks (i.e., checks lacking the original signature of the drawer); (c) Substitute Checks (i.e., paper checks created from an electronic image) other than Substitute Checks we have returned to you; (d) Checks that are irregular in any way (e.g., where the numerical and written amounts are different); (e) Checks that have previously been returned unpaid for any reason; (f) Checks that are postdated or more than 6 months old; (g) Checks drawn on a foreign bank or payable in a foreign currency; (h) Checks payable to “Cash”; (i) Checks issued by you or any company affiliated with you through common ownership or control; (j) any Check that you suspect is fraudulent or not properly authorized; (k) registered government warrants; (l) prohibited “Third-Party-Issued-Items Outside the Ordinary Course of Business” as described in the next Subsection; or (m) documentary drafts (even if you use the Service to upload the necessary accompanying documents); (n) Checks that do not readily reflect the required endorsement specified in the preceding section; or (o) any Check(s) that exceed the transaction limitation(s) that we establish from time to time. Our processing of any of the Checks described above shall not obligate us to continue that practice, and we may stop doing so without cause or prior notice. If you process a previously truncated and reconverted Substitute Check through this Service, you will ensure that the identification of previous truncating and reconverting banks are preserved and that the Substitute Check meets the requirements for legal equivalency under Federal Reserve Regulation CC. We may refuse any Check for deposit, with or without cause, or may elect to take a Check on a collection basis only. In addition, we may immediately suspend the Service or the processing of any Check if we have reason to believe that there has been a breach in the security of the Service, fraud involving your Accounts or such Check, or any uncertainty as to the authorization, authenticity or accuracy of Checks.

Non-permissible Checks. You may use the Service only to process the deposit of original paper Checks that are payable to you. Unless we specifically agree otherwise in writing, you may not use the Service to deposit (each of the following a “Non-Permissible Check”): (a) Checks payable to a third party (even if endorsed over to you); (b) demand drafts or remotely created checks (i.e., checks lacking the original signature of the drawer); (c) Substitute Checks (i.e., paper checks created from an electronic image) other than Substitute Checks we have returned to you; (d) Checks that are irregular in any way (e.g., where the numerical and written amounts are different); (e) Checks that have previously been returned unpaid for any reason; (f) Checks that are postdated or more than 6 months old; (g) Checks drawn on a foreign bank or payable in a foreign currency; (h) Checks payable to “Cash”; (i) Checks issued by you or any company affiliated with you through common ownership or control; (j) any Check that you suspect is fraudulent or not properly authorized; (k) registered government warrants; (l) prohibited “Third-Party-Issued-Items Outside the Ordinary Course of Business” as described in the next Subsection; or (m) documentary drafts (even if you use the Service to upload the necessary accompanying documents); (n) Checks that do not readily reflect the required endorsement specified in the preceding section; or (o) any Check(s) that exceed the transaction limitation(s) that we establish from time to time. Our processing of any of the Checks described above shall not obligate us to continue that practice, and we may stop doing so without cause or prior notice. If you process a previously truncated and reconverted Substitute Check through this Service, you will ensure that the identification of previous truncating and reconverting banks are preserved and that the Substitute Check meets the requirements for legal equivalency under Federal Reserve Regulation CC. We may refuse any Check for deposit, with or without cause, or may elect to take a Check on a collection basis only. In addition, we may immediately suspend the Service or the processing of any Check if we have reason to believe that there has been a breach in the security of the Service, fraud involving your Accounts or such Check, or any uncertainty as to the authorization, authenticity or accuracy of Checks.