Thank you for considering applying for MidWestOne Mobile Deposit. Please read our required disclosure below. To accept these terms and conditions please click on the "Yes, sign me up" button located at the bottom of this page. If you do not agree and would not like to apply for Mobile Deposit, please click on "No thanks".
This agreement is an addendum to the MidWestOne Personal Online Banking and Mobile Banking Agreement & Disclosure. The following information represents the “Mobile Deposit Terms and Conditions” between you and MidWestOne Bank. Please read this entire document prior to using the Mobile Deposit service and retain a copy for your records.
In addition to the definition regarding “we”, “our”, and “us” meaning MidWestOne Bank and “you” or “your” meaning each accountholder or anyone else with the authority to deposit, withdraw, or exercise control over the funds in the Account(s), the following definitions apply:
1.1. “Authorized User” means you or your agent.
1.2. “Account(s)” means deposit accounts that you are authorized to make deposits into through the Service.
1.3. “Banking Day” means any day which we are open to conduct substantially all of our banking services, but shall not include Saturday, Sunday, Christmas Eve Day (December 24), New Years Eve Day (December 31), or federal holidays.
1.4. “Capture Device” means any device acceptable to us, that provides for the capture of images from original Items and for transmission through a clearing process.
1.5. “Check” means an original Check, as defined in Regulation CC and Check 21 and does not include a Substitute Check or a Remotely Created Check.
1.6. “Check 21” means the Check Clearing for the 21st Century Act, as well as Subpart D of Federal Reserve Board Regulation CC, and to the extent applicable, Subpart A.
1.7. “IRD” or “Image Replacement Document” means (a) a Substitute Check as defined in Check 21; or (b) the paper reproduction that will be created when an Item cannot be converted to an Electronic Transaction.
1.8. “Item” means a Check, money order, cashier’s check, official check, U.S. Treasury check, or any other payment instrument drawn on or payable through an Office of a United States financial institution from a Payor to you, in addition to other required information as specified by us; it is understood that you will only be transmitting electronic images of the front and back of Items and not any paper Items. In order for an Item to be processed for deposit, it must be endorsed in the proper location on the back of the Item. All Items must be payable in US Dollars.
1.9. “Payor” means consumers or businesses that make payments to you by means of Items.
1.10. “Service” means the Mobile Deposit service and applicable support services provided by us, including electronic check conversion and image archive systems that allow the use of a Capture Device to obtain and transmit the front and back images of Items and accompanying transaction data for the purpose of delivery to us for clearing as an IRD.
1.11. “Service Start Date” means the date that the Service is first available to you.
1.12. “Technology” means our or our subcontractor’s deposit capture applications and processes designed to facilitate the electronic clearing of Items. Said applications are accessed through Capture Devices, utilizing software and hardware provided by or acceptable to us, and are proprietary access points to payment processing networks and systems used to complete the clearing of Items. Technology may include but is not limited to service support, reports, software, software tools, user interface designs, and documentation, and any derivatives, improvements, enhancements or extensions thereof developed or provided by us or our subcontractors and used in the provision of Services hereunder.
1.13. “Term” shall mean the term of this Agreement beginning as of the Service Start Date until terminated as provided herein.
2. YOUR OBLIGATIONS.
2.1. Hardware and Software Requirements. In order to utilize the Services, you must be registered for MidWestOne Mobile Banking, have the MidWestOne Bank downloadable application installed on the Capture Device, and have the following hardware and software with the indicated specifications:
For depositing checks, you must have a Capture Device that is one of the following phone makes / Operating Systems:
• Apple iPhone with an Operating System of 5.0 or higher
• Android Based with an Operating System of 2.1.1 or higher
Image quality of the Items must comply with requirements as established by us or applicable law and regulatory agencies. The Capture Device should have at least two mega-pixels in resolution.
2.2. Your Responsibilities. You authorize us to convert Items to IRDs or transmit as an image and further authorize us or any other financial institution to which an Item is sent for processing. You agree to, at your sole expense: (a) provide connectivity between the Capture Device and the Technology (such as data plan from a mobile cell phone carrier); (b) maintain the Capture Device in accordance with the instructions provided by us, our subcontractors and/or any other Capture Device provider; (c) utilize our software to scan, load, and format Items as needed for transmission to us prior to the communicated cut-off-time; ( (d) adhere to the agreed upon security procedures in the MidWestOne Personal Online Banking and Mobile Banking Agreement and Disclosure.
2.3 Fees. We do not currently charge a fee for the Service. We may, upon 30 days advance notice to you, charge a fee for the use of the Service.
2.4. Handling of Transmitted Items. You shall be responsible for retaining each original Item in a safe and secure environment in accordance with applicable laws for a minimum of 5 Banking Days and a maximum of 14 Banking Days after transmittal to us and receipt of a confirmation from us. You shall ensure Items are not deposited a second time. At the end of the defined retention period you shall shred or otherwise destroy the original Items. You will provide any retained original Item to us as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any Item, or as we otherwise deem necessary within 5 Banking Days. We reserve the right to verify your compliance with these requirements by audit.
2.5. Error Resolution. All deposits made through the Service shall be deemed to be correct unless you notify us of any errors to deposits within 60 days after the applicable account statement is mailed or otherwise provided to you. You agree to notify us of any errors to your deposit account within the above mentioned time frame.
2.6. Qualifications. You must meet the following qualifications to use this Service:
• You are currently enrolled in MidWestOne Online Banking & Mobile Banking
• You have an eligible personal checking or savings account
• You must be designated as an owner or signer
• All of your accounts with us are in good standing
• You do not have any checking or savings accounts with a negative balance
• You do not have any delinquent loans
Eligible accounts include Free Checking, Power Checking, Relationship Checking, Connections Club, Consumer Savings, Consumer Money Market, and Kids Club savings. We reserved the right to change these qualifications in the future with notice to you. If you fail to maintain these qualifications after initial enrollment in the Service, we reserve the right to terminate your access to the Service.
3. WITHDRAWAL OF ACCESS/SUSPENSION OF SERVICE.
We reserve the right to deny, suspend or revoke access to the Service immediately, in whole or in part, in our sole discretion, without notice, if we believe any Authorized User is in breach of this Agreement or is otherwise using or accessing the Service inconsistent with the terms and conditions hereof. Further, we or our subcontractor shall have the right to suspend the Service immediately in the event of an emergency or in the event of force majeure.
4. PAYMENT PROCESSING.
4.1. IRD Processing. Items may be transmitted for electronic processing by other banks or converted to IRDs and transmitted to a printing facility for printing and clearing through traditional paper processing channels, at our sole discretion. The IRDs will be created in accordance with Check 21; alternatively, we may process Items as photocopies in lieu of originals, under guidelines established in accordance with applicable industry standards. Items that fail to satisfy the warranties made to us by you, that fail to meet our requirements or those of Check 21, or that are otherwise not able to be processed may be charged back to your Account(s) and/or returned to you. You agree to be bound by any applicable laws, rules and regulations to which we are a party.
4.2. Processing of Items. Images of Items transmitted by you are not considered received by us until you have received an electronic confirmation of the receipt of the deposit from us. However, receipt of the confirmation from us does not mean that the transmission was error free or complete. We reserve the right to review all deposited Items prior to accepting the Items for processing. We may reject or refuse Items according to our sole discretion.
Items transmitted by you and received and accepted by us or our subcontractors by 5:30 PM Central Standard Time (“CST”) on a Banking Day, Monday through Friday, shall be credited to the applicable account the following Banking Day. Items received and accepted by us after 5:30 PM CST on any Banking Day shall be credited to your applicable account on the second successive Banking Day. Items transmitted by you and received and accepted by us or our subcontractors by 12:30 PM CST on Christmas Eve Day (December 24) and New Years Eve Day (December 31) shall be credited to the applicable account the following Banking Day. Items received and accepted by us after 12:30 P.M. CST on Christmas Eve Day and New Years Eve Day shall be credited to your applicable account on the second successive Banking Day. You understand and agree funds from Items deposited under the terms of this Agreement are not subject to our funds availability policy and will generally be available after processing and once funds are received. We reserve the right to postpone or delay the availability of funds from Items deposited at our sole discretion. We will notify you by e-mail message to the latest e-mail address you have on file with us if availability of the funds from Items deposited is postponed or delayed.
4.3 Reject Deposits. We reserve the right to reject or refuse any Items or group of Items that exceed our pre-defined limits of $2,000.00 per Item and $2,000.00 per business day for the Service. We also reserve the right to refuse or reject any Item that we determine, at our sole discretion, may be invalid or returned to us if allowed to process. We will notify you by e-mail message to the latest e-mail address you have on file with us of any rejected or refused deposited Items.
4.4. Your Liability. You shall be solely responsible if any Item for which you have been given provisional credit is subject to return or reversal. You acknowledge that all credits to your account for Items deposited through the Service are 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.
5. WARRANTIES AND DISCLAIMERS.
5.1. Your Warranty. You represent and warrant to us: (A) You have the authority to enter into this agreement and perform its obligations hereunder and all information supplied by you to us is accurate and true; (B) You will provide all reasonable assistance to us and our subcontractors in providing the Services set forth herein; (C) Authorized Users will only use the Services for lawful purposes and in compliance with all applicable rules and regulations and with our reasonable instructions, rules, policies, specifications, terms and conditions, and operating procedures and will not violate any law of any country or the intellectual property rights of any third party; (D) You will only transmit acceptable Items for deposit and will handle the original Items following transmission to us as agreed; (E) Each Item you deposit is payable to you (F) The Items have not been altered; (G) Each Item bears all applicable endorsements in a format as directed by us; (H) All the warranties set forth in and subject to applicable laws and regulatory agencies; (I) (1) The electronic image portion of each Item accurately and legibly represents all of the information on the front and back of the original Item as of the time the Item was deposited, (2) The information portion of the Item contains a record of all applicable MICR-line information required for a substitute check, and (3) The Item conforms to the technical standards for an electronic Item as specified by us from time to time; (J) You will submit an accurate and clear image of the front and back of each Item to us only one time; (K) You will not deposit an Item that has already been paid; (L) The amount of an Item entered by any Authorized User for transmission to us is accurate.
5.2. Our Warranty. We warrant that we have the authority to enter into this agreement and perform its obligations.
5.3. Disclaimer. Except as set forth above in Section 5.2, we and our subcontractors make no representations or warranties, whether express, implied or statutory regarding or relating to any of the technology or services and/or access to or use of the services or technology provided to you hereunder. We and our subcontractors also do not guarantee that your access to the services provided under this agreement will be uninterrupted, error free or secure. We and our subcontractors also do not guarantee the accuracy of, and specifically disclaim liability for, information or data that is supplied or key-entered by you or your agents. We and our subcontractors do not warrant the accuracy, reliability, completeness or timeliness of the content of internet websites or other data received by you or Payors via the internet.
6. LIMITATION OF LIABILITY/INDEMNIFICATION.
6.1. Limitation of Liability. Notwithstanding anything to the contrary herein, in no event will our liability under this Agreement for any damages of any kind exceed an amount equal to the amount of Items received by us from you for the services during the month preceding the date on which the claim first accrued. We shall not be liable for any special, indirect or consequential damages, even if it has been advised of the possibility of these damages.
6.2. Indemnification. In addition to our indemnification obligations in this Agreement, and except for losses or expenses attributable to our own lack of good faith or failure to exercise ordinary care, you agree to indemnify us for any loss or expense sustained (including interest, costs, attorney’s fees and expenses of litigation) resulting from (i) your lack of authority to make the warranty in subsection 5.1 (E); (ii) any action taken or not taken by us within the scope of our authority in handling an Item; (iii) any warranty required to be made by us with respect to an Item under applicable law or regulation; and (iv) breach of the warranties in subsections 5.1(A) through 5.1(L).
7.1. Termination. In addition to the denial, suspension, revocation and termination provisions in this Agreement, we may immediately terminate the Service or any portion of the Service if we determine that such Service or portion of any Service is in violation of any law or regulation, or in our sole discretion and without notice, decide to cease providing this Service. We reserve the right to terminate or to discontinue support of any software or equipment without written notice. We reserve the right to terminate your use of Online Banking and/or Mobile Banking at any time.
You may terminate this agreement and any service provided hereunder at any time upon giving at least 10 days prior written notice of termination to us. Once we have acted upon your termination notice, you will make no further deposits through the Service into your Accounts. Any termination will not affect any obligations arising prior to termination, such as the obligation to process any Items that were processed or in the process of being transmitted or collected prior to the termination date, or any returns of the same.
This disclosure is available in PDF format here.
Revised as of 04.22.2014