Online Banking RDC Terms

REMOTE DEPOSIT CAPTURE DISCLOSURE

 

  • As originally agreed, you must write one of the following endorsements on the back of the check or your check could be rejected:
  1. For Mobile Deposit only MERHO FCU
  2. Mobile Deposit MERHO FCU
  • After submission you must write ‘Mobile Deposited’ conspicuously on the front of the check, and not attempt to deposit it again anywhere.
  • You must submit items by 1:00 pm on a regular business day for the full deposit to be credited to your account on the same business day otherwise the entire item may not be approved until 4:00 pm on the following full business day.
  • Deposited funds will be available in accordance with the Funds Availability Policy disclosure. Any crediting of the Member’s account for items deposited via this Service is provisional, subject to verification and final settlement. Any dishonored items will be returned as an image of the original or a substitute check as the charged-back item. Any dishonored item is subject to a fee according to the Credit Union Fee Schedule at the time of the return.
  • We reserve the right to reject any item transmitted through this Service, at our discretion, and we may limit the amount or number of items you can deposit with this service in a day or in a given time period of time. If we doubt the collect-ability we may place holds until funds are received from the institution it is drawn upon.
  • We are not liable for items we do not receive or images that are not transmitted completely.
  • An image is considered received after 1:00 pm on the following business day (when the full amount has been credited to your account); however, this does not mean that the transmission was without error and may not be withdrawn.
  • If an item 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 may be assessed a fee as disclosed. If there are not sufficient funds in your account to the cover the amount of the returned check, the account will be overdrawn and you will be responsible for payment or related fees.
  • Remote Deposit Capture (RDC) is a privilege; the Credit Union will limit the use of RDC to members in Good Standing. For the purposes of this disclosure, a member in good standing is defined as:
  1. A MERHO FCU member for at least six months;
  2. who has not caused the Credit Union a loss; and
  3. who has not experienced repetitive instances of an overdrawn account nor return deposited items within the past six (6) months

 

MERHO FCU’s liability for errors or omissions with respect to the data transmitted or printed by MERHO FCU will be limited to correcting the errors or omissions. You agree to your personal responsibility to ensure security of the personal computer and/or mobile device you own and use to access the Service, which includes the security of any wireless or internet service or network you may be utilizing.

 

You agree that MERHO FCU will not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to damages for lost profits, goodwill, use data or other losses resulting from use of the Service, inability to use the services, or termination of the services, incurred by you or any third party, regardless of the form of action or claim (whether contract, tort, strict liability or otherwise) even if MERHO FCU had been informed of the possibility thereof.

 

You agree to indemnify and hold harmless MERHO FCU from any loss for breach of the warranty provision, such that you warrant to MERHO FCU:

  1. You will only transmit eligible items that are properly endorsed
  2. Images will meet the image quality standards
  3. You will not transmit duplicate items
  4. You will not deposit or re-present the original item once it has been scanned and sent through this Service unless specifically requested to do so by MERHO FCU
  5. All information you provide to MERHO FCU is accurate and true
  6. MERHO FCU will not sustain a loss because you have deposited an image
  7. You will comply with the original and any subsequent provisions of the Disclosure and all applicable rules, laws and regulations

Funds Availability Policy

The first $200 of a member’s deposit will be available on the day the deposit is made. Longer Delays May Apply:  Depending on the type of check deposited, funds may not be available until the second business day after the day of deposit.

 

 

If a member will need the funds from a deposit right away, he/she should ask us when the funds would be available.

 

Funds deposited by check may be delayed for a longer period if:

 

  • we believe a check deposited will not be paid;
  • the checks total more than $5,000 on any one day;
  • a member redeposits a check that has been returned unpaid;
  • a member overdraws his/her account repeatedly in the previous six months;
  • there is an emergency, such as failure of communications or computer equipment;

 

We will notify a member if his/her ability to withdraw funds is delayed by us for any of these reasons, and we will tell that member when the funds will be available.  They will generally be available no later than the 7th business day after the date of deposit.