Viably Deposits Terms & Conditions
Last Updated: September 16, 2022
1. Description of Service
Mobile Deposits allows you to use a compatible camera‐enabled Mobile Device to scan original paper checks (“Checks”) and electronically transmit images of them along with associated deposit information to Piermont Bank (“Bank”) for deposit to your designated Account(s) through the Mobile App (“Electronic Checks”). The Service converts your scanned Checks into Electronic Checks, in accordance with the Check Clearing for the 21st Century Act (“Check 21 Act”) and Federal Reserve Board Regulation CC (“Regulation CC”), to facilitate the deposit and collection of Checks.
2. Qualifying Items
You can only deposit Checks payable in U.S. dollars drawn on financial institutions located in the United States through the Mobile Deposit Service. You cannot deposit, the following items:
- Checks payable to any person or entity other than you, or to you and another party.
- Checks containing any alteration of which you know or believe to be fraudulent or not authorized by
the owner of the account on which the check is drawn.
- Checks that are not in original form with an original signature, such as substitute checks or remotely created checks.
- Checks drawn on a financial institution located outside the United States.
- Checks not payable in United States currency.
- Checks or items on which a stop payment order has been issued or for which there are insufficient funds.
- Checks where the numerical and written amounts are different.
- Checks that have been previously returned unpaid for any reason.
- Checks that are postdated or more than 6 months old.
- Travelers Checks
3. Check Requirements
Any Electronic Check you transmit through the Service must accurately and legibly provide all the information on the front and back of the Check at the time it was presented to you. You must indorse the original Check with a restrictive indorsement before scanning it by applying your signature and the legend, “For Mobile Deposit at Piermont Bank Only”. The Bank reserves the right to reject any Check not properly indorsed as required by this section.
You agree that each Electronic Check shall provide the following information:
(1) Identification of the drawer and the paying bank that is preprinted on the Check, including complete, full field, and accurate MICR (magnetic ink character recognition) line, routing transit number, number of the account on which the Check is drawn, and the drawer signature(s);
(2) amount, payee, date, Check number
(3) other information placed on the front of the Check and your endorsement applied to the back of the Check with the required restrictive endorsement. Both the front and back of each Check must be transmitted to the Bank as provided using on‐screen instructions. The Bank in its sole discretion may refuse to accept Electronic Checks that do not meet our Check Requirements or that do not include the restrictive endorsements.
4. Rejection of Deposits by Bank
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 the Bank for any errors, inaccuracies, breach warranties and any other loss sustained by, or claim made against the bank relating to such Deposits The Bank is not liable for any service charges or late charges that may be imposed against you due to the our rejection of any Electronic Check that you transmit for deposit through the Service. In all cases, you are responsible for any loss or overdraft plus applicable fees to your account due to an Electronic Check being rejected for deposit.
5. Checks Returned Unpaid
You are solely responsible for verifying that the Electronic Checks you deposit by using the Service have been received and accepted for deposit by the Bank. The Bank will provide you with notice of any deposits that are being reversed because an Electronic Check was returned unpaid by the payor financial institution. Applicable fees may apply.
You understand that we may, at our discretion, honor withdrawal requests that overdraw your account. However, the fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts on your account regardless of how frequently or under what circumstances we have paid overdrafts on your account in the past. We can change our practice of paying overdrafts on your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line-of-credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.
7. Funds Availability
The funds for the Checks that you deposit through the Service may not be immediately available to you. The funds for all accepted Electronic Checks will be available in accordance with the Bank’s Funds Availability Disclosure, as amended from time to time. You understand and agree that we shall not be deemed to have received a Check deposit through the Service until we notify you via onscreen messaging and/or e‐mail that we accepted an Electronic Check for deposit.
The deposit cut‐off time for the Service is 2:00 PM Eastern Time (ET). The Bank reserves the right to change the cut‐off time in its sole discretion. Such change shall be effective immediately and may be implemented before you receive notice of the change. You may contact us at any time to verify our current cut‐off time.
If you complete the scanning and transmission process and receive notice that your deposit was received, Electronic Checks deposited before the cut‐off time on a Business Day will be considered received that same Business Day. Electronic Checks that are received by us through the Service after the cut‐off time on a Business Day, or on any day that is not a Business Day, will be considered received by us on the next Business Day.
8. Storage, Security and Destruction of Original Checks
You agree that once an Electronic Check has been deposited through the Service, the original paper Check is your property and not the property of the Bank. You shall securely store the original Check for a reasonable period, not to exceed ninety (90) days, after you receive a notice through the Service that the Electronic Check has been accepted by us. Upon request by the Bank you will promptly provide to the Bank a retained original Check (if available), or a legible copy of the front and back of the Check in a form acceptable to us, to aid in the clearing and collection process, or to resolve claims by third parties, or for our audit or fraud loss prevention purposes.
9. Prohibition Against Presenting Checks More Than Once
Once you have used the Service to deposit an Electronic Check, you agree not to present, or allow anyone else to present, that original Check or a substitute check of the original Check again for deposit through the Service or by any other means or to any other banks.
10. Deposit Limits
The Bank reserves the right to establish and assign deposit limits for the Service (including limits on the dollar amount and/or number of Checks that you deposit through the Service each day) and to modify such limits from time to time in the Bank’s sole discretion, and you agree to comply with all such limits.
11. Representations and Warranties
In addition to your representations and warranties contained in other provisions of this Agreement, you represent and warrant that:
Each image of a Check you transmit to us is a true and accurate rendition of the front and back of the original Check, without alteration, and the drawer of the Check has no defense against payment of the Check made payable to you, the owner of the Account, is not a third party or second endorsed check, and is not issued to multiple parties qualifies as an original check as defined by Regulation CC and is not a substitute check as defined by Check 21 or an image replacement document (IRD) that purport to be substitute checks and which have previously been endorsed by a financial institution drawn on a financial institution located within the United States and is payable in United States currency dated no more than six (6) months prior to the date of the deposit
- You are authorized to enforce each Check you transmit for deposit.
- You are solely responsible for any and all financial risk that may be associated with your use of the
Service, including without limitation the risk that a Check will be returned for insufficient funds.
- You are solely responsible for the instructions you provide to the Bank and for failing to properly
access or use the Service, including without limitation input errors.
- You will not deposit or otherwise endorse to a third party the original Check, and no person will receive
a transfer, presentment, or return of, or otherwise be charged for, the original Check or a paper or electronic representation of the original Check such that a person will be asked to make payment based on an item that has already been paid.
- You will only transmit acceptable items for deposit and have handled the original items in accordance with applicable laws, rules and regulations.
- If you breach any of these representations and warranties in these Terms and Conditions, you agree to indemnify, defend and hold harmless the Bank from and against any and all liability, damages, or losses arising from any claims, suits, or demands from third parties with respect to such breach. You further authorize the Bank to debit your account for the amount of any such claim, suit or demand that results from a breach of warranty claim under the provisions of Check 21, Regulation CC, and/or the Uniform Commercial Code. You will maintain funds in your account(s) in amounts and for a period of time as we determine in our sole discretion to cover any outstanding Checks and your obligations for returns of checks, warranty claims, fees and other obligations. If any such liabilities exceed the amount in the applicable account(s), we may charge such excess against any of your other accounts at the Bank and you will pay us any amount remaining unpaid immediately upon our demand.
12. Mobile Deposit Security
You understand that an image of an Electronic Check may be captured using your Mobile Device and stored in its memory only until the Electronic Check has been successfully submitted. You agree to promptly complete each Mobile Deposit. In the event that you are unable to promptly complete your deposit, you agree to ensure that your smartphone, tablet, or mobile device remains securely in your possession until the Mobile Deposit has been completed or to delete the associated images from the Mobile App.
13. Mobile Deposits: Additional Terms and Conditions
The use of the Mobile Deposits Service is subject to all of the terms or instructions which may appear on screen when you access the Service, or in the user guides, and/or other information or documentation that the Bank may provide to you from time to time regarding the Service.