Processing Deposits. Upon Client or Courier’s delivery of a Bag to Bank or Provider, Bank or Provider is authorized to open the Bag and verify the contents, and to credit the contents thereof for the benefit of the designated account of Client. If no account is designated, Bank may credit the deposit for the benefit of any account of Client’s. If the contents of the Bag do not conform to the deposit ticket, Bank will credit only those contents as are found therein that are in compliance with this Service Description and the Supporting Documents. If the aggregate amount of the contents of any Bag, as counted by Bank or Provider, is less than that reported on the deposit slip covering that Bag, Bank will debit the Client’s account by such difference. Client agrees that the record of Bank or Provider as to the contents of the Bag opened by Bank or Provider, including the amount of any Cash contained therein, shall be conclusive evidence of the contents of the Bag. Client agrees that Bank or Provider may endorse checks processed for deposit in a manner chosen by Bank or Provider (for example, "Credit to the Account of the Within Named Payee," "Payment Accepted Without Prejudice," or "Absence of Endorsement Guaranteed"). Bank is not responsible for payor bank acceptance or rejection of the endorsements used. If appropriate after processing, Bank will deposit checks and Cash into Client’s account with Bank and make such funds available to Client in accordance with Bank’s funds availability policy. Bank shall make funds available to Client by credit to Client’s account, and Client remains obligated for all adjustments resulting from adjustments to Client’s account. Neither Bank or Provider will be deemed a bailee, and the risk of damage, loss or shortage is expressly assumed by Client, and Bank and Provider shall have no liability for any such damage, loss or shortage. A notice of any discrepancy between the contents of the Bag and the deposit ticket will be delivered or otherwise made available to Client. Bank reserves the right to return nonconforming items to Client and Client agrees that Bank may charge Client’s account for the return costs. Alternatively, and at Bank’s discretion, Bank may require Client to arrange to pick-up nonconforming items. Client agrees to hold Bank and Provider harmless for any loss or shortage, including that the contents of the Bag fail to conform to the accompanying deposit slip. Client recognizes that in following the instructions of Client, Bank or ...
Processing Deposits. Existing Participants. Once we have received your Deposit and have validated your crediting and allocation instructions, we will apply your Deposits for existing Participants pursuant to those instructions as of the Business Day of receipt and validation. Deposits are processed on Business Days only. If a Deposit cannot be applied as received, we will credit the Deposit to the Pending Allocation Account until we receive all necessary information.
Processing Deposits. New Participants. The initial Deposit for a new Participant will be credited to the Participant’s Account Value no later than two (2) Business Days after receipt, if the Deposit is received in good order (with all necessary information). If the Deposit cannot be applied as received, we will notify you and credit the Deposit to the Pending Allocation Account until we receive all necessary information.
Processing Deposits. Accepting or Cashing Items for Deposit We may accept, accept for collection only, refuse, or return all or part of any deposit. We may also impose any requirements or conditions before we accept a deposit, such as requiring an acceptable form of identification, an endorsement guarantee or requiring an item to be endorsed by all parties to whom the items are payable. For example, we may refuse an item for deposit if: an item is made out to a payee not on your account (i.e., third party payee) we cannot verify an endorsement on an item it is a non-U.S. item it is an item issued on a credit account (e.g., credit card convenience check) it is a cash deposit made into consumer accounts by non- account owners We generally cannot verify that checks, money orders, cashier’s checks or other items are authentic, valid or issued against good funds at the time you ask us to cash or deposit them. If we accept an item for deposit: we are not required to question the identity and authority of the person making the deposit and your account is overdrawn, we may use the deposit to pay the overdraft and any fees due and the deposit is not paid for any reason or is later determined to be unauthorized, we may charge your account for the amount of the deposit, even if this causes your account to be overdrawn You agree and warrant that: you will not knowingly deposit an item into your account that you know is not authorized or does not contain an authorized signature of the person on whose account it is drawn; you will not deposit with us or any other financial institution an item that has been previously or on the same day deposited using electronic deposit, such as through mobile banking or other deposit imaging service. If you make such a duplicate deposit, you agree to fully reimburse us for any Loss incurred; and you will not deposit an ECI, which is an electronic image that has all the attributes of an electronic check but is not originally derived from a paper check. You further warrant that any item you deposit has been created from a paper check. If you create or deposit an ECI, you agree to indemnify us for any Loss resulting from a breach of these warranties and to fully reimburse us for any Loss incurred. Deposit Slips You may order your deposit slips through us or you may use an outside vendor. If you order through us, we may receive compensation from our vendor. If you use an outside vendor, your deposit slips must conform to our specification...
Processing Deposits. When you make a deposit, we will act only as your collection agent and will not be responsible beyond the exercise of good faith and ordinary care. All deposits are provisionally credited subject to our receipt of final payment. If you deposit a check or transfer funds into your Account and the check or transfer is returned to us by the paying financial institution for any reason, you agree that we may deduct the amount of the check or transfer against your Account, without prior written notice to you. We may send the returned check or transfer back for collection a second time without notifying you, and you waive any notice of dishonor and protest. At our discretion, we may return, reject, and/or refuse to accept a deposit; for example, we may refuse to accept a transfer to your Account if we believe that accepting the transfer would cause us to violate any applicable law (e.g., sanctions related to the Office of Foreign Assets Control (“OFAC”) or cause your Account to exceed the applicable Maximum Deposit Limitation, discussed previously.
Processing Deposits. You authorize any persons designated by CIBC to act as agents of you to remove each Client Wallet from the Depository, if applicable, to transport the Wallet for processing to a location away from the Depository location, and to open the Wallet, list the contents and present such contents to the appropriate CIBC officer or any person designated by CIBC; unless and until such contents are accepted for deposit by such last mentioned person on behalf of CIBC, such Wallet and contents shall be at your sole risk without liability on CIBC's part for safekeeping or otherwise howsoever and no deposit to the credit of your designated Bank Account shall be deemed to have been made.
Processing Deposits. You authorize any persons with paragraph 1(h) above as if the Designate was the Authorized designated by CIBC to act as agents of you to remove each User referred to in that paragraph. Client Wallet from the Depository, if applicable, to transport the Wallet for processing to a location away from the
