True North Federal Credit Union

REMOTE DEPOSIT CAPTURE TERMS & CONDITIONS

 True North Federal Credit Union (“Credit Union”) and the “Member” defined below, hereby enter into, as of the date the Credit Union grants access to the Service (the “Effective Date”), this Remote Deposit Services Agreement (“Agreement”) consisting of General Terms and Conditions, Exhibits, and any amendments attached hereto or hereafter by mutual consent of the parties, and incorporated by this reference.

Introduction- How it Works

Using a mobile device with a camera and data service, you can deposit eligible checks into your eligible checking, money market or savings accounts. From eligible account pages in mobile banking, select Make a Deposit, enter your check’s information, and then submit your check. After we process your check for deposit, you will receive a confirmation email for each deposit. You’ll have access to all of your Scan/Mobile Deposits for up to eighteen months. You will not need to mail in your check or take it to a branch. Please do not destroy the check until at least thirty (30) days after it has posted to your account.

 Eligibility Requirements

  • You must have an eligible savings, money market or checking account for this service.
  • Your accounts must be in good standing with no restrictions.
  • You have no negative transaction history that disqualifies you from this service.

 Important Definitions

  • The words “You” and “Yours” mean users of True North Federal Credit Union’s Mobile Deposit product.
  • The words “We, Us, Our, TNFCU, and Credit Union” mean True North Federal Credit Union
    • ·The word “Account” means any one (1) or more share, money market, or share draft accounts you have with the Credit Union.
    • “Business Day” is every Monday through Friday, Alaska Time, excluding Federal Reserve holidays.
    • “Service” refers to TNFCU’s Mobile Remote Deposit Capture Service also referred to as Mobile Deposit.
    • “Check” has the same meaning as assigned to it in Federal Reserve Regulation CC, Availability of Funds and Collection of Checks.  

Description of Service

This Service, available through TNFCU Mobile Banking,  allows you to deposit checks into eligible TNFCU accounts from a remote location by scanning the items with a compatible camera enabled mobile device which then delivers the images and associated deposit information to TNFCU or its designee electronically.  You may use this Service only in accordance with this Agreement. In order to use this Service, you must obtain and maintain, at your expense, a compatible mobile device and wireless plan. We are not responsible for the cost, functionality or maintenance of any hardware, software, or the wireless plan necessary to use this Service.

 Agreement Acceptance

By using the Service, you are agreeing to all terms and conditions in this Agreement in addition to the Membership Agreement and Disclosures provided to you at account opening and/or when approved for other services, as well as the Electronic Banking Disclosure and Agreement. Please read this Agreement carefully.  A copy for your records can be located at www.truenorthfcu.org.

 Limitations of Service

When using this Service, you may experience technical or other difficulties. We do not assume liability for any technical or other difficulties that you may incur. In the event this Service is not available to you, you acknowledge that you can deposit your check by other means made available by TNFCU.

Charges or Fees

TNFCU does not charge a usage fee for this Service. We reserve the right to start charging for this Service at any time. If a Check you transmit for deposit is dishonored, rejected or otherwise returned unpaid, you agree that we may charge back the amount of the return to the Account the Check was originally deposited to and you will be assessed a fee in the amount shown on TNFCUs current fee schedule for a returned deposit. If there are not sufficient funds in your Account to cover the amount of the returned Check, the Account will be overdrawn and you will be responsible for payment. You agree that the Credit Union may debit any account maintained by you in order to obtain payment of your obligations under this Agreement.

You acknowledge that wireless providers may assess fees, limitations, or restrictions. You agree that you are solely responsible for all such fees, limitations, and restrictions, and that we may contact you via your wireless device for any purpose concerning your accounts at TNFCU including but not limited to account servicing and collection purposes.

Eligible and Ineligible Items

You agree to scan and deposit only “Checks.”

You agree that you will not use this Service to scan and deposit any ineligible items including but not limited to the following:

a. Checks or items payable to any person or entity other than you

b. Post-dated checks

c. Checks or items containing an obvious alteration to any of the fields on the front of the check or item which you know or suspect, or should know or suspect to be fraudulent.

d. Checks or items not payable in United States currency

e. Items drawn on financial institutions located outside the United States

f. Items previously converted to a substitute check

g. Consumer loans, credit card, and mortgage payments

h. IRA and Share Certificate deposits

i. Money orders and travelers checks

j. Starter or counter checks

k. American Express Gift Cheques

l. Savings bonds

m. Checks that require authorization

n. State-issued registered warrants

o. Checks from a closed account

Image Quality

The image of the item transmitted to us must be clearly legible. The image being transmitted must comply with all standards for image quality established by American National Standards Institute (ANSI), clearing house, association or any other regulatory agency.  These requirements include, but are not limited to, ensuring the following information can clearly be read and understood by sight review of the Check image: the amount of the Check (both written and numeric); the payee; the signature of the drawer (maker); the date; the Check number; the information identifying the drawer and the paying financial institution that is preprinted on the Check including the MICR line; and all other information placed on the Check prior to the time of an image of the Check is captured (such as any required identification written on the front of the Check and any endorsements applied to the back of the Check).

Endorsement Requirements

You agree to endorse all Checks with “TNFCU”, your account number and your signature on all items. Endorsements must be made on the back of the item within 1 ½ inches from the top edge, although we may accept endorsements outside this space.  Any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you will be your responsibility.  

For a Check payable to you and any joint owner(s) of your Account, the Check must be endorsed by all such payees and you may only use the Service to deposit such Check into an Account jointly owned by all such payees. If the Check is payable to you or your joint owner, either of you can endorse it. If the Check is made payable to you and any non-joint owner, you may not deposit the Check into your Account using the Service.

TNFCU reserves the right to reject all Checks that are not endorsed as specified.

Deposit Limits

When using the Service to deposit funds such deposits are limited per Business Day.  Deposit limits may vary depending on factors such as the length of time your account has been open and your transaction history. If you attempt to deposit a check greater than your currently authorized deposit limit, you will be notified that you have exceeded your deposit limit.  Generally, when using the Service to deposit funds such deposits are limited to $5,000 per Check but this amount may be reduced if TNFCU has reason to be concerned about potential loss, or increased upon member request and with established positive history.  TNFCU will notify members if there is a change to their deposit maximum.

Rejection of Deposits

We reserve the right to reject any Check transmitted through this Service, at our discretion. We are not liable for Checks we do not receive or for images that are not transmitted completely.

You agree that all deposits received by us are subject to verification and final inspection and may be rejected by us in our sole discretion, and you shall be liable to TNFCU for any errors, inaccuracies, breach of warranties and any other loss sustained by, or claim made against TNFCU relating to such deposits. TNFCU is not liable for any service or late charges that may be imposed against you due to our rejection of any Check that you transmit for deposit through the Service. In all cases, you are responsible for any loss or overdraft plus any applicable fees to your account due to a Check being returned. You acknowledge and agree that, while we may normally provide notice of rejected deposits, we may reject any Check transmitted through the Service in our sole discretion without notice to you, and we will not be liable for any such rejection or failure to notify you of such rejection. If we reject a Check for remote deposit, you must physically deposit the original Check.

Availability of Funds

Checks deposited will be visible and available in your account the same or next business day depending on the time of your deposit.  See the Funds Availability Policy in your membership agreement for more information about the amounts available.

Our general policy is to make $1,000 per day available to you on the same business day that we receive your deposit. In some cases, we will not make all of the funds that you deposit available to you on the same business day that we receive your deposit. Remaining funds may not be available until the second business day after the day of your deposit.                

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit and receive a Deposit Notification before 3:30 PM on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 3:30 PM or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Credit given for the item is provisional and subject to final approval of the item. Funds you deposit may be delayed for a longer period of time when we have reasonable cause to believe the check is uncollectable. We will notify you if we delay your ability to withdraw funds because we believe the check is uncollectable and we will tell you when funds will be available. You agree to receive all notifications regarding your use of this Service via email. With respect to each Check you send to TNFCU for deposit, you agree to indemnify and reimburse TNFCU for and hold TNFCU harmless from and against any and all losses, costs, and expenses.

Method of Presentment

The manner in which Checks are cleared, presented for payment, and collected shall be in TNFCU’s sole discretion.

Non-Receipt of Check

Member understands and acknowledges that transmitting a Check does not mean the Credit Union received the Check. The Credit Union deems a Check received when it acknowledges receipt. The Credit Union is not responsible for Checks it does not receive or for images dropped during transmission. If a Check is incomplete, contains errors, or has any other problems, the Credit Union will make a commercially reasonable effort to notify the Member via e-mail.

Retention and Disposal of Checks

You agree to retain each Check no fewer than thirty (30) days after your funds have been posted to your account. Upon receipt of these funds, you agree to mark the Checks prominently as “Void” and to dispose of the item(s) in a way that prevents representing for payment. You agree to store each retained Check securely until such proper disposal is performed. You will promptly provide any retained item to TNFCU as requested to aid in the clearing and collection process or to resolve claims by third parties with respect to any Check

Presenting checks more than once:

Once you have used the Service to deposit a Check you agree not to present, or allow anyone else to present, that original Check or a substitute check of that original Check again for deposit through the Service or by any other means. If you or anyone else present a Check or substitute check for deposit more than once in violation of this Agreement, you agree to indemnify, defend and hold TNFCU harmless from and against all liability and damages that may result from any claims, suits or demands from third parties with respect to such Check or substitute check. In addition, TNFCU reserves the right to immediately terminate your use of the Service in the event you attempt to re-deposit a Check that has already been deposited via the Service. You agree that we may debit from your TNFCU accounts the aggregate amount of any Checks that are deposited more than once. To the extent that funds in your account are insufficient to cover such amount, we shall debit the deficiency amount from any other of your account(s) with TNFCU in our sole discretion.

Errors or Discrepancies

As soon as possible, telephone us at (907) 771-4777 or write us at P.O. Box 34157, Juneau, AK 99803. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.

  • Tell us your name and account number.
  • Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
  • Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct the error promptly. For errors related to transactions occurring within thirty (30) days after the first deposit to the account (new accounts), we will tell you the results of our investigation within twenty (20) business days. If we need more time, however, we may take up to forty-five (45) calendar days to investigate your complaint or questions (ninety (90) calendar days for new account transaction errors). If we decide to do this, we will provisionally credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not re-credit your account. If we decide after our investigation that an error did not occur, we will deliver or mail you an explanation of our findings within three (3) business days after the conclusion of our investigation. If you request, we will provide you copies of documents (to the extent possible without violating other members’ rights to privacy) relied upon to conclude that the error did not occur.

Security Requirements

To prevent unauthorized usage of the Service, you agree to ensure the security of the personal computer and/or mobile device you own and use to access the Service. By securing these devices, we specifically mean installing operating system patches, antivirus software, firewall and spyware detection as applicable and keeping this security software current, as well as securing the physical device, passwords, and Check image from theft or unauthorized use, and changing passwords regularly.  Member shall notify the Credit Union immediately if it has reason to believe the security of any information transmitted under the Service has or may have been breached.

Disclaimer of Warranties

THE CREDIT UNION'S REPRESENTATIONS, WARRANTIES, OBLIGATIONS AND LIABILITIES, AND MEMBER'S RIGHTS AND REMEDIES SET FORTH IN THIS AGREEMENT ARE EXCLUSIVE. THE SOFTWARE IS PROVIDED BY THE CREDIT UNION AND ITS LICENSORS "AS IS". MEMBER HEREBY WAIVES AND RELEASES THE CREDIT UNION AND ITS LICENSORS AND THEIR RESPECTIVE OWNERS, OFFICERS, AND EMPLOYEES FROM ALL OTHER REPRESENTATIONS, WARRANTIES OF ANY NATURE, OBLIGATIONS, AND LIABILITIES, WHETHER EXPRESS OR IMPLIED, ARISING BY LAW OR OTHERWISE, WITH RESPECT TO THE SOFTWARE AND ANY AND ALL MATTERS ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING WITHOUT LIMITATION:  (i) ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE, PURPOSE OR APPLICATION, OR OTHER IMPLIED CONTRACTUAL WARRANTY; (ii) ANY IMPLIED WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING, OR USAGE OF TRADE; (iii) ANY WARRANTIES OF TIMELINESS OR NON-INFRINGEMENT; AND (iv) ANY OTHER WARRANTY WITH RESPECT TO QUALITY, ACCURACY OR FREEDOM FROM ERROR. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, NEITHER THE CREDIT UNION NOR ITS LICENSORS WARRANT THAT OPERATION OF THE SOFTWARE WILL BE ERROR-FREE OR UNINTERRUPTED.

Limitation of Liability

The Credit Union shall not be liable to Member for (i) any damages, costs or other consequences caused by, arising or resulting from, or related to the Credit Union's actions that are based on information or instructions that Member provides to the Credit Union; (ii) any unauthorized actions initiated or caused by Member; (iii) the failure of third persons or vendors to perform satisfactorily or the failure of any product of a third person or vendor to perform satisfactorily; (iv) any refusal of a Payor Financial Institution to pay an Electronic Item or Substitute Check for any reason (other than the gross negligence or willful misconduct of the Credit Union), including without limitation that the Check, Electronic Item or Substitute Check was allegedly unauthorized, was a counterfeit, had been altered, or had a forged signature; (v) Member’s or any other party's lack of access to the Internet or the inability to transmit or receive data; (vi) Data loss, corruption, failures or errors on the part of Internet service providers, telecommunications providers or any other person’s or party’s internal systems, including a vendor for Authorized Equipment; (vii) rejecting a file transmitted by Member to the Credit Union; (viii) files which the Credit Union does not receive or for images that are distorted or corrupted during a transmission; (ix) alterations made to files after they are transmitted to the Credit Union by Member; and (x) any errors or failures resulting from defects in or malfunctions of Member’s computer hardware or software.

NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT, LIABILITY FOR ERRORS WITH RESPECT TO DATA TRANSMITTED OR PRINTED BY THE CREDIT UNION SHALL BE LIMITED TO CORRECTING THE ERRORS. CORRECTION SHALL BE LIMITED TO REPRINTING AND/OR RE-PRESENTING SUBSTITUTE CHECKS OR ELECTRONIC ITEMS TO THE PAYOR FINANCIAL INSTITUTION.

IN NO EVENT WILL THE CREDIT UNION BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES, OR ANY LOST PROFITS OR LOSS OF ANY OPPORTUNITY OR GOOD WILL, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

User Warranties and Indemnification

You warrant to TNFCU that:

a)       You will maintain a valid email address with Credit Union and agree to receive communications on this service at that email.

b)       You will only transmit eligible Checks that are properly endorsed.

c)       Images will meet the image quality standards.

d)       You will not transmit duplicate items.

e)       You will not deposit or re-present the original Check to TNFCU or any other person or entity once it has been scanned and sent through this Service, unless specifically requested to do so by TNFCU.

f)        All information you provide to TNFCU is accurate and true.

g)       TNFCU will not sustain a loss because you have deposited an image.

h)       You will comply with this Agreement and all applicable rules, laws, and regulations.

i)         Items you transmit do not contain viruses.

j)         You are not now engaged, and will not during the term of this Agreement engage, in any business that would result in you being or becoming a “money service business” as defined in the Bank Secrecy Act and its implementing regulations.

k)       You will not engage in any activity directly or indirectly related to the use of the Service that is illegal, fraudulent, or gambling related.

Member Indemnification. Member will indemnify and hold harmless the Credit Union, its licensors and providers of the Services, and their respective directors, officers, shareholders, employees and agents, against any and all third party suits, proceedings, claims, demands, causes of action, damages, expenses (including reasonable attorneys' fees and other legal expenses), liabilities and other losses arising from or resulting from (i) the wrongful acts or omissions of Member, or any person acting on Member's behalf, arising in connection with Member's use of Remote Deposit or processing of Checks hereunder, including without limitation (a) a breach by Member of any provision, representation or warranty of this Agreement, (b) the negligence or willful misconduct (whether by act or omission) of Member, or any third party on behalf of Member, (c) any modifications or changes to the Software made by Member or any third party within the control or on behalf of Member, (d) any misuse of Remote Deposit by Member or any third party within the control or on behalf of Member, or (e) the failure by Member to comply with applicable state and federal laws and regulations; (ii) any act or omission of the Credit Union that is in accordance with this Agreement or in accordance with instructions from Member; (iii) actions by third parties, including the introduction of a virus, that delay, alter or corrupt the transmission of an Electronic Item to the Credit Union; or (iv) any claim by any recipient of a Substitute Check corresponding to a Check processed by Member hereunder, that such recipient incurred loss due to the receipt of the Substitute Check instead of the Original Check.

Cooperation with Investigations

You agree to cooperate with TNFCU in the investigation of unusual transactions, poor quality transmissions, and resolution of claims, including by providing, upon request and without further cost, any originals or copies of Checks deposited through the Service in Your possession and Your records relating to such Checks and transmissions.

Termination / Suspension of Service

TNFCU reserves the right to change, suspend, or revoke the Service immediately and at any time without prior notice to you. In addition, TNFCU may immediately suspend the Service if it has reason to believe that there has been a breach in the security of the Service. If you cause TNFCU a loss or have loans in default, TNFCU may deny you access to the Service. Any termination will not affect Your obligations under this Agreement arising prior to the effective date of termination.

Amendments and Change in Terms

TNFCU reserves the right to change or amend the terms and conditions of The Service and this Agreement, at any time. Notice may be provided as required by law. Such amendments shall become effective as stated on any notice sent to the Member.

Intellectual Property

Member acknowledges and agrees that all right, title and interest in and to the Service and all other intellectual property rights including but not limited to copyrights, patents, trademarks, and trade secrets, pertaining to the Service are and shall remain owned exclusively by the Credit Union.

Confidential Information

You acknowledge that Credit Union will disclose information to third parties about Your Account or the Checks You deposit: To enable Your access to the Service; when it is necessary for completing deposits, and; as required by law. 

Applicable Law

This Agreement will be governed by and be construed in accordance with the laws of the State of Alaska.

Entire Agreement

This Agreement supplements, but does not replace, any agreement Member may have executed with respect to other services including, but not limited to, Member’s Account Agreement. This Agreement, the Exhibits to this Agreement (as may be amended from time to time), and the Account Agreement constitute the entire agreement between Member and the Credit Union with respect to the subject matter hereof, supersede any prior agreements between the Credit Union and Member with respect to the subject matter hereof, and shall be binding upon the Credit Union, Member and their respective successors and permissible assigns. In the event of any inconsistency between this Agreement and the Account Agreement, this Agreement will govern.

 


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