Common use of Processing of Your Deposit Clause in Contracts

Processing of Your Deposit. If you make a deposit at the Depository Bank before our Cutoff time on a Banking Day, the Bank will review and, if appropriate, process the Electronic File on that Bank’s Day. If you make a deposit to the Depository Bank after the Cutoff Time on any Bank’s Day, the Bank may process your deposit on either the presentment date or on the following Banking Day. Only original U.S. Dollar checks drawn on U.S. financial institution and only checks payable to you (your business) may be deposited to your account using this service. The following checks are not permitted to be deposited to your account using this service: Checks drawn on a foreign bank or payable in foreign currency; Second or third party endorsed checks; Checks payable to an individual and/or payee other than you; Checks which are irregular in anyway (i.e., where the numerical and written amounts are different); Checks which are post-dated or dated more than 6 months prior; Demand drafts or remotely created checks (i.e., check lacking the original signature of the payer); Checks payable to “Cash.” You agree that we and the Depository Bank may exchange and share information regarding you and your transactions and will require an annual review of your account between us and the Depository Bank.

Processing of Your Deposit. If you make a deposit at the Depository Bank before our Cutoff time on a Banking Day, the Bank will review and, if appropriate, process the Electronic File on that Bank’s Day. If you make a deposit to the Depository Bank after the Cutoff Time on any Bank’s Day, the Bank may process your deposit on either the presentment date or on the following Banking Day. Only original U.S. Dollar checks drawn on U.S. financial institution and only checks payable to you (your business) may be deposited to your account using this service. The following checks are not permitted to be deposited to your account using this service: Checks drawn on a foreign bank or payable in foreign currency; Second or third party endorsed checks; Checks payable to an individual and/or payee other than you; Checks which are irregular in anyway (i.e., where the numerical and written amounts are different); Checks which are post-dated or dated more than 6 months prior; Demand drafts or remotely created checks (i.e., check lacking the original signature of the payer); Checks payable to “Cash.” You agree that we and the Depository Bank may exchange and share information regarding you and your transactions and will require an annual review of your account between us and the Depository Banktransactions.