Remote Deposit Capture

TERMS & CONDITIONS FOR USE OF REMOTE DEPOSIT CAPTURE SERVICE

GENERAL TERMS

This Remote Deposit Capture Services Agreement (“Agreement”) is a contract between you and Public Service Credit Union (“PSCU”) which establishes terms and conditions for the use of PSCU’s remote deposit capture services. In addition to this Agreement, the use of PSCU’s remote deposit capture services is governed by your Deposit Account Contract and Electronic Fund Transfer Disclosures, the Internet Banking Services Agreement, and any other agreement between you and PSCU.

1) Definitions

In this Agreement, the following terms have the following meanings:
a)    “You” and “your” means the PSCU member who enrolls in or uses the internet banking services.
b)    “We,” “us,” and “our” mean Public Service Credit Union (“PSCU”).
c)    “Remote deposit capture service” or “Service” mean the use of software and/or hardware provided by PSCU to capture images of eligible items and deposit them to eligible accounts.
d)    “Accounts” mean the accounts on which you are the owner or co-owner at PSCU, and for which remote deposit capture services are available.
e)    “Business days” are Monday through Friday, excluding Federal bank holidays.

2) Eligible Accounts

In order to use the Service, you must be a PSCU member or joint owner of a PSCU account in good standing, and at least eighteen (18) years of age. Additionally, we may establish other criteria for determining the eligibility of accounts (for example, the length of time the account has been open) at our sole discretion. You or we may terminate the Service on any account at any time and for any reason.

3) Eligible Items

Only checks may be deposited through the Service. By depositing an item through the Service, you agree and warrant that the following:

a)      The item is payable to the person or persons who own the account into which it is being deposited;

b)      The item has been properly endorsed under your Deposit Account Contract and applicable law;

c)      The item is not drawn on a financial institution located outside of the United States;

d)      The item is payable in United States currency;

e)      The item is not dated in the future or more than six (6) months prior to the date of deposit;

f)       The item has not been previously been presented for payment at PSCU or to any other party;

g)      The item does not contain any alterations of which you know;

h)      You do not know or believe the item to be fraudulent or unauthorized.

We may review or verify any item deposited through the Service, and we may reject an item for deposit for any reason without liability. If we reject an item through the remote deposit capture service, we may accept it through another channel (for example, at a PSCU branch).

4) Image Quality

We may determine, at our sole discretion, whether an image of an item submitted through the Service is of sufficient quality for acceptance and presentment.

5) Errors

You agree that the provisions of your Deposit Account Contract regarding your responsibilities to notify us of errors apply to items deposited through the Service. You agree that the deposit of an item through the Service is not an “Electronic Funds Transfer” under the federal Consumer Financial Protection Bureau’s Regulation E.

6) Availability of Funds

Subject to the other provisions of this Agreement, funds deposited through the Service will be available on the second (2nd) business day after the day of your deposit. The first five hundred dollars ($500) from such deposits will be available on the first (1st) business day after your deposit. If you make a deposit before 5:30 p.m. Mountain Time 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 5:30 p.m. Mountain Time or on a day we are not open, we will consider that the deposit was made on the next business day we are open. We may make some or all of the funds deposited through the Service sooner than the times described in this Paragraph, at our sole discretion. You agree that items deposited through the Service are not subject to the funds availability of the Federal Reserve Board Regulation CC, and that we may the delay availability of funds deposited through the Service if we determine that the item is not eligible as described in Paragraph 3 of this Agreement or that the item is over any deposit limit we may establish, or if we believe for any reason that the item may not be paid.

7) Destruction of Original Items

After you use the Service to deposit an item, you agree not to deposit the same item anywhere else or through any other channel. You agree to retain the item for fourteen (14) days, or longer if we request it, and then destroy the item or otherwise make it incapable of further deposit or presentment. You agree to be liable for the failure to destroy items as described in this Agreement, or if an item is deposited through the Service and the same item is later presented or deposited again.

8) Deposit Limits

We may establish limits on the total number of checks or total amount of checks deposited through the Services. We may establish or change such limits at any time and without notice to you.

9) Indemnity

You agree to be solely liable for the use or misuse of the Service, and you agree to indemnify, defend and hold us and any third-party provider of software or services harmless from any legal action or claim asserted against us and/or third-party providers by any other party relating to your use of the Service and any claims, liabilities, damages, costs and expenses (including reasonable attorney fees) incurred by us and/or its third-party provider as a result of your use or misuse of the Service.

10) Limitations on Service

You agree not to hold us liable for interruptions in the availability or functionality of the service, which may occur without notice to you for technical or other reasons.

11) Amendment

We may add to, change, or delete the terms of this Agreement by providing notice to you. We may also add to, change, or delete some functionalities or features of the Service at any time without notice. If you do not consent to a modification of this Agreement or the Service, you may terminate and discontinue your use of the Service at any time by notifying us.

12) No Waiver

We will not be deemed to have waived any of our rights or remedies under this Agreement unless such waiver is in writing and signed by us. No delay or omission on our part in exercising any rights or remedies will operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion will not be construed as a bar or waiver of any rights or remedies on future occasions.

13) Severability

The invalidity or unenforceability of any provision of this Agreement will in no way affect the validity or enforceability of the remainder of this Agreement or any of its provisions.

14) Applicable Law

This Agreement will be governed by and construed in accordance with Colorado law to the extent not preempted by federal law. The parties consent to jurisdiction and enue for resolution of disputes in Denver County, Colorado.