Ineligible Item definition

Ineligible Item refers to the following types of checks or items which shall be considered ineligible for the Mobile Deposit Service:
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Ineligible Item refers to the following types of checks or items which shall be considered ineligible for the Mobile Deposit Service: • Checks or items payable, in whole or in part, to any person or entity other than the person or entity that owns the Account that the check is being deposited into. • Checks or items containing an obvious alteration, or which you know or suspect, or should know or suspect, are fraudulent or otherwise not authorized by the owner of the account on which the check or item is drawn. • Checks or items previously presented for payment electronically or converted to a substitute check, as defined in Reg. CC. • Checks or items drawn on a financial institution located outside the United States. • Checks or items that are remotely created checks, as defined in Reg. CC. • Checks or items not payable in United States currency. • Checks or items dated more than 6 months prior to the date of deposit. • Checks or items prohibited by our current procedures relating to the Service or which are otherwise not acceptable under your Account Agreement. • Checks or items payable on sight or payable through drafts, as defined in Reg. CC. • Checks or items with any endorsement on the back other than that specified in this Agreement. • Checks or items that have previously been submitted through the Service or through a remote deposit capture service offered at any other financial institution; and • Checks or items that are drawn on or otherwise issued by the United States Treasury Department.
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Ineligible Item means: • Checks or items containing obvious alteration to any of the fields on the front of the check or item, or which you know or suspect, or should know or suspect are fraudulent, or otherwise not authorized by the owner of the account on which the check or item is drawn, and that all signatures are authentic and authorized; • Checks or items previously converted to a “Substitute Check or IRD”, as defined in Reg CC; • Checks or items drawn on a financial institution located outside the United States; • Checks or items that are “Remotely Created Checks”, as defined in Reg CC; • Checks or items not payable in United States currency; • Checks or items dated more than six (6) months prior to the date of deposit or postdated; • Money orders or Savings bonds.
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Examples of Ineligible Item in a sentence

  • Any acceptance by us of an Ineligible Item does not guarantee that we will accept Ineligible Items, even of a similar type, that you attempt to deposit in the future.

  • If you deposit such an Ineligible Item, you agree to reimburse us for any losses, costs and expenses we may incur associated with warranty, or indemnity claims, including but not limited to, the duplicate payment of a Check.

  • In using RDS, you agree to scan and remotely deposit into a deposit Account checks (“Checks” or “Items”), as that term is defined in Article 4 of the New York Uniform Commercial Code (“UCC”) that is not an Ineligible Item, as defined below Federal Reserve Board Regulation CC (“Reg CC”).

  • You agree that the Bank is not liable for any loss, costs, or fees you may incur as a result of our chargeback of an Ineligible Item.

  • We further reserve the right to charge back to your Account at any time any Eligible Item that we subsequently determine was an Ineligible Item.

  • We may charge back to your Account at any time any Image that we subsequently determine was an Ineligible Item and you agree that we are not liable for any loss, costs, or fees you may incur as a result of our chargeback.

  • You agree that you will not use the Services to scan and deposit any checks or other items as shown as Ineligible Item below.


More Definitions of Ineligible Item

Ineligible Item means: • Checks or items payable to any person or entity other than an authorized signer on the specified account; • Checks or items containing obvious alteration to any of the fields on the front of the check or item, or which you know or suspect, or should know or suspect are fraudulent, or otherwise not authorized by the owner of the account on which the check or item is drawn, and that all signatures are authentic and authorized; • Checks or items previously converted to a “Substitute Check or IRD”, as defined in Reg CC; • Checks or items drawn on a financial institution located outside the United States; • Checks or items that are “Remotely Created Checks”, as defined in Reg CC; • Checks or items not payable in United States currency; • Checks or items dated more than six (6) months prior to the date of deposit or postdated; • Money orders or Savings bonds.
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Related to Ineligible Item

  • Ineligible Person shall include an individual or entity who:

  • Eligible Account Any of (i) an account or accounts maintained with a federal or state chartered depository institution or trust company the short-term unsecured debt obligations of which (or, in the case of a depository institution or trust company that is the principal subsidiary of a holding company, the debt obligations of such holding company) have the highest short-term ratings of each Rating Agency at the time any amounts are held on deposit therein, or (ii) an account or accounts in a depository institution or trust company in which such accounts are insured by the FDIC or the SAIF (to the limits established by the FDIC or the SAIF, as applicable) and the uninsured deposits in which accounts are otherwise secured such that, as evidenced by an Opinion of Counsel delivered to the Trustee and to each Rating Agency, the Certificateholders have a claim with respect to the funds in such account or a perfected first priority security interest against any collateral (which shall be limited to Permitted Investments) securing such funds that is superior to claims of any other depositors or creditors of the depository institution or trust company in which such account is maintained, or (iii) a trust account or accounts maintained with (a) the trust department of a federal or state chartered depository institution or (b) a trust company, acting in its fiduciary capacity or (iv) any other account acceptable to each Rating Agency. Eligible Accounts may bear interest, and may include, if otherwise qualified under this definition, accounts maintained with the Trustee.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Eligible Investments Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than the Determination Date in each month:

  • Eligible Investor Either (i) a Qualified Institutional Buyer that is purchasing for its own account or for the account of a Qualified Institutional Buyer to whom notice is given that the offer, sale or transfer is being made in reliance on Rule 144A or (ii) an Institutional Accredited Investor.