Mobile Deposit Agreement

To utilize the Mobile Deposit you must be an Online Banking customer with direct ownership of a Redwood Capital Bank checking or savings account for at least 90 days and have no more than five(5) overdrafts in the previous twelve(12) months.  Once you have enrolled for the Mobile Deposit Service, designated accounts linked to your Online Banking security codes will be accessible through your wireless access device.  Additionally, to access and utilize the Mobile Deposit Service you will need a compatible Wireless Access Device that supports 256-bit encryption.  In order to properly use the Mobile Deposit Service, you should review and follow the instructions provided in our Online Banking system.

If we receive a scanned Item on or before 3:00 p.m. Pacific Standard Time on a business day we are open, we will consider that day to be the day of deposit.  If we receive a scanned Item after 3:00 p.m. Pacific Standard Time or on a day that is not a business day, we may consider that the deposit was made on the next business day.  BUSINESS DAYS For the purpose of this Agreement, our business days are Monday through Friday, excluding weekends, holidays, and other days we choose not to be open. The MAXIMUM LIMIT for an individual checks to be scanned is $2,500 and the maximum daily limit of scanned deposits that will be accepted is $2,500.  The bank reserves the right to change the funds availability policy and deposit limits as required.

For all Electronic Items processed by you pursuant to this Agreement, either: (i) digitized images will be converted to Substitute Checks and presented for payment to established Endpoints, or (ii) Image Exchange Items will be presented for payment through image exchange networks.  We may in our sole discretion determine the manner of processing.  All such processing and presentment shall be done in accordance with timeframes and deadlines set forth in the Documentation and as otherwise established by us from time to time.  Your account will be provisionally credited upon our acceptance of the Electronic Items for deposit which are received by us from you through the Mobile Deposit Service.  Unless otherwise agreed by you and us, we will process any returned Items in accordance with applicable law and the deposit account agreements.

Each business day on which we review and process your Electronic Item(s), we will use commercially reasonable efforts to review each Electronic Item and to reject any Electronic Item that we in our sole discretion determine to be ineligible for the Service (each, an “Exception Item”).  By way of example, “Exception Item” includes, without limitation, an Electronic Item that (a) is illegible or contains MICR data that is not machine-readable, (b) was previously processed as an Electronic Item, (c) is drawn on banks located outside the United States and is not payable at or through a bank located within the United States; or (d) that we in our sole discretion otherwise determine that the Electronic Item is not eligible.  While we will normally notify you of each Exception Item through the Service, or other communication channels, at our discretion, we may not notify you of an Exception Item.  We will not be liable for any rejected deposit or failure to notify you of such rejection. You will only scan and submit Paper Items for processing ensure that the Paper Items scanned meet the ANSI X9.37 standards for image quality required by Regulation CC, or other standards established or required by us or applicable law.  These requirements include, but are not limited to, ensuring the following information can clearly be read and understood by sight review of the image:  (a) the amount of the Item (both written and numeric); (b) the payee; (c) the signature of the drawer (maker); (d) the date; (e) the Item number; (f) the information identifying the drawer and the paying financial institution that is preprinted on the Item including the MICR line; (g) and all other information placed on the Item prior to the time that an image of the Item is captured (such as any required identification written on the front of the Item and any indorsements applied to the back of the Item).  You will not process any third-party checks.   You will not attempt to scan and transmit to us any Paper Item which is drawn on a deposit account of yours with us or any other financial institution, or a deposit account of any business entity of which you are a principal, officer or authorized signer, unless there are sufficient funds to cover the full amount of the Paper Item in the account on which it is drawn.  You will not attempt to scan and transmit to us any previously truncated and reconverted Substitute Check.  Any previously truncated and reconverted Substituted Check must be physically deposited with us.  You will (a) ensure that Paper Items are restrictively indorsed or otherwise processed to permit only financial institutions to acquire rights of a holder in due course in the collection process of Items, (b) handle, process, maintain, and destroy Original Paper Items as set forth in this Agreement, and (c) ensure that no financial institution (depositary, collecting or payor), drawee, drawer or indorser receives presentment or return of, or otherwise is charged for an Item more than once in any form.  You agree not to allow an Item to be deposited or presented for payment more than once, to the extent that it could result in the payment of the Item more than once.

You will properly secure the Wireless Access Device you use in connection with the Service (including, but not limited to, securing the security credentials to prevent unauthorized use).  You will maintain control over and be responsible for secure retention, storage, and destruction of Original Paper Items for which you have created an Electronic Item.  After transmitting the Electronic Item to us, you will securely retain the Original Paper Items for 5 calendar days from the transmission date (“Retention Period”).  It is your responsibility to establish and maintain procedures to safeguard against unauthorized deposits.  During the Retention Period and upon our request, you agree to provide us with the Original Paper Item(s).  Once the Retention Period has expired, you will mark the Original Paper Item “VOID” and then securely and irretrievably destroy Original Paper Items from which you have previously created and submitted to us as an Electronic Item.  You will ensure the safety and integrity of the Original Paper Items from the time of receipt until the time of destruction.  If warranted in our reasonable judgment, we may audit and monitor you, and you agree to cooperate with us to permit such audit and monitoring, to confirm that you have satisfied your obligations under this Agreement.  You will not store or make a back-up copy of the Electronic Item(s).  You agree to cooperate with us in the investigation of transactions, including unusual transactions, poor quality transmissions, and resolution of customer claims, including by providing, upon request and without further cost, any originals or copies of Items in your possession and your records relating to Items and transmissions.  You represent that you are the legal owner or an authorized user of the accounts and other financial information which may be accessed via the Mobile Deposit Service.  You represent and agree that all information you provide to us in connection with the Mobile Deposit Service is accurate, current, and complete, and that you have the right to provide such information to us for the purpose of using the Mobile Deposit Service.  You agree not to misrepresent your identity or your account information.  You agree to keep your account information up to date and accurate.  You represent that you are the only authorized user of the Wireless Access Device that you will be using to access the Mobile Deposit Service.  You further represent that you are authorized to enforce and obtain payment of each Item you process for deposit using the Mobile Deposit Service.  You agree not to give or make available the Mobile Deposit Service log-in, password or other security codes (collectively “Security Codes”) to any unauthorized individuals.  If you permit other persons to use your Security Codes, you are responsible for any transactions they conduct.  If you believe that your Original Paper Items, Wireless Access Device, any part of your Security Code, or other means to access your account has been lost or stolen or that someone may attempt to use the Mobile Deposit Service without your consent, or has transferred money without your permission, notify us either through the Online Banking system, by calling [insert number], or writing us at [insert address].   Refer to your Online Agreement for additional details regarding error resolution procedures.

You are solely responsible for verifying that Items that you deposit using the Service have been received and accepted for deposit by the Bank.  The Bank will provide you with notice of any deposits that it is unable to process because Items were returned unpaid by the Paying Bank.  All transactions are governed by  applicable law, including without limitation those applicable under the UCC, Regulation CC, Regulation J, and the rules of any image exchange network.