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FDIC-Insured - Backed by the full faith and credit of the U.S. Government
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Salem Co-operative Bank Mobile Deposits
Salem Co-operative Bank offers Mobile Deposit as a simple way to deposit into certain Salem Co-operative Bank accounts using your mobile device camera. To use Mobile Deposit, you must be a Salem Co- operative Bank account holder and have agreed to the Digital Banking Access Agreement. You may transmit deposits to us electronically only from a mobile capture device located in the United States. Digital Banking users over the age of 18 can use Mobile Deposit. This service is available to users with an iPhone or Android and the Salem Co-operative Bank Mobile Deposit App which can be found at either the Apple AppStore or Google Play.
A. Definitions
Mobile Remote Deposit refers to your deposit of a Qualifying Item to the Account by taking pictures of the Qualifying Item and sending the pictures to us through our mobile banking app, as agreed in the Remote Deposit and Mobile Remote Deposit Requirements section below, rather than by providing us with the paper original.
Banking Day refers to a business day on which we are open to the public for substantially all of our banking functions.
Business Day refers to a calendar day other than Saturday, Sunday or a federal holiday.
B. Mobile Remote Deposit Requirements
You have applied for the Mobile Remote Deposit service and understand that you must be approved by us to use the Mobile Remote Deposit service before we will accept any Mobile Remote Deposit transactions. You agree that for each Mobile Remote Deposit you will indorse the paper original and write “For mobile remote deposit only,” along with our name by the indorsement, and then take a clear and accurate picture of both sides of the Qualifying Item and send the pictures to us through our mobile banking app, rather than by providing us with the paper original.
Once you have been approved by us, you can make Mobile Remote Deposits if, but only if, you satisfy all the applicable Mobile Remote Deposit Requirements, Software Requirements, Image Quality Requirements, and other requirements of this Agreement. If any of the applicable requirements for your Mobile Remote Deposit are not met for any deposit, we may reject the deposit. If we reject a deposit because you failed to comply with any of the applicable requirements of this Agreement, you agree that you will be liable for any losses, costs, fees, expenses, and damages related to the rejected deposit(s).
C. Software Requirements
For Mobile Remote Deposits, you will use our mobile banking app. You will keep your mobile device updated with the latest software, including security patches. You also agree not to share your password to our mobile banking app with anyone who is not an owner of the Account. Accessing our mobile banking app with your mobile device may incur fees from your internet or cellular service provider. We are not responsible for any fees your internet or cellular service provider charges, nor are we responsible for any failures to connect to or transmit data to the mobile banking app due to lack of service by your internet or cellular service provider.
D. Image Quality Requirements
The images of Qualifying Items you send us will be sufficiently inclusive and high quality to permit us to satisfy all pertinent requirements of the following: the Check 21 Act; all related laws or regulations; all other state or federal laws and regulations; The American National Standards Institute; The Electronic Check Clearing House Organization; and all other clearing houses or associations.
E. Mobile Remote Deposit Limits
The total number of Qualifying Items that can be transmitted to us under this Agreement is unlimited. Only one check per deposit can be processed through Mobile Deposit.
F. Receipt Deadline
The deadline (Receipt Deadline) for our receipt of Mobile Remote Deposits is 3:45 PM on a Banking Day. Any Mobile Remote Deposits not received on a Banking Day or not received in their entirety by the Receipt Deadline on a Banking Day will be considered to have been received on the next Banking Day.
G. Acceptance or Rejection Deadline
The deadline (Acceptance or Rejection Deadline) for our sending you either acceptances for deposit or rejections with respect to Qualifying Items included in your Mobile Remote Deposits is within two business days after we receive the Mobile Remote Deposits. We will send you acceptances for deposit or rejections via our mobile banking app, and they will be effective when sent whether or not they are received by you. Such acceptances for deposit or rejections will reasonably identify each of the Qualifying Items accepted and each of the Qualifying Items rejected.
If we do not send you either an acceptance for deposit or a rejection with respect to a Qualifying Item included in a received Mobile Remote Deposit by the Acceptance or Rejection Deadline, the Qualifying Item will automatically be (accepted for deposit/rejected).
H. Retention/Destruction of Original Items
You will retain, preserve, and keep secure the paper original of each Qualifying Item included in a Mobile Remote Deposit until it is accepted by us. You will destroy (e.g. shred) the paper original immediately after it is accepted by us. You will destroy the electronic image(s) on your mobile or other devices of each Qualifying Item immediately after it is sent to us. We have the right to inspect the paper original of a Qualifying Item at any time before accepting the deposit. If we choose to inspect the paper original of a Qualifying Item, you will have 2 days to present the paper original of the Qualifying Item to us at one of our branch locations or to mail the paper original of the Qualifying Item to us at 3 South Broadway, Salem, NH, 03079.
I. Fees
There are no fees associated with Mobile Deposit. However, the Bank retains the right to charge for this service in the future upon 30 days prior notice to you. Internet data usage rates may apply from your Internet service provider or mobile carrier. Check with your mobile carrier for rates.
J. Other Terms and Conditions
Internet Addresses and Other Information. You and we will provide each other with email addresses, phone numbers, and other information as needed for purposes of this Agreement and will update such information as needed.
Acceptance Required. We will credit your Account for a Qualifying Item included in a Mobile Remote Deposit if, but only if, we have received it and it has been accepted for deposit. We can reject an item included in a Mobile Remote Deposit for any reason or for no reason at all.
Provisional Credit Only. Any credit to your Account of a Qualifying Item included in a Mobile Remote Deposit (including Qualifying Items drawn “on us”) is provisional only until collection is final. Until final settlement, we will act only as your agent, regardless of the form of indorsement or lack of indorsement on a Qualifying Item, even if we have provisionally credited your Account. We can reverse any provisional credit to your Account of a Qualifying Item included in a Mobile Remote Deposit that is lost, stolen, or returned. You will indemnify us and hold us harmless from any loss we may incur as a result of our lawfully reversing a provisional credit to your Account.
Failures or Alterations in Transmission. We will not be liable for any failures or alterations in the transmission of Mobile Remote Deposits to us.
Presentment/Collection. Presentment and collection of Qualifying Items included in Mobile Remote Deposits will be by any means and through any clearing agents we deem appropriate, and you consent to any applicable clearing house rules.
Funds Availability. Funds from Qualifying Items included in Mobile Remote Deposits will be available to you, at such times after their acceptance for deposit under this Agreement, according to our policies as reflected in our then current funds availability disclosure. Even after funds are available to you and have been withdrawn, you will still be responsible for returned items or any other problems with the Mobile Remote Deposit.
Warranties. Unless prohibited by law, by making Mobile Remote Deposits you make the following warranties to us and agree to indemnify us and hold us harmless from any breach of such warranties, including payment of our reasonable attorneys’ fees and litigation expenses:
Returned Items. If Qualifying Items included in your Mobile Remote Deposits are returned, we will provide you with images or substitute checks of the returned items, rather than the paper originals.
Statements. You will comply with the Statements section of the Terms and Conditions of your Account.
Information and Access. You will promptly provide us with any information, including financial information, we request that is pertinent in any way to your Mobile Remote Deposits or this Agreement.
Irreconcilable Conflicts. This Agreement supersedes your account agreement to the extent of any irreconcilable conflicts.
Circumstances Beyond Our Control. We will not be responsible for any failure to act or delay in acting pursuant to this Agreement if the failure or delay is the result of circumstances beyond our control including, but not limited to, legal constraint, interruption of transmission or communication facilities, equipment failure, or war emergency conditions.
Standard of Care. Unless otherwise required by law, our standard of care in connection with this Agreement is limited to ordinary care.
Indemnification. You agree to indemnify us and any other recipient for any loss incurred by us or any other recipient if the loss resulted from the receipt of a Qualified Item by Mobile Remote Deposit.
Limitation on Damages. Unless otherwise required by law, we will not under any circumstances be liable for attorneys’ fees; litigation expenses; or consequential, special, incidental, indirect, or punitive damages.
Duration and Termination. This Agreement will continue until it is terminated. We can terminate it immediately without notice if you are in default or if we suspect that you are engaged in illegal activity. Either party can terminate this Agreement without cause by giving 30 days advance written notice of termination.
Changes. We can change the provisions of this Agreement, other than the above stated right to terminate without cause, by giving you 30 days advance written notice of the changes.
Waiver. We can waive rights under, and violations of, this Agreement without affecting other rights under, or other violations of, this Agreement.
Assignment. You are not entitled to assign this Agreement or your rights and obligations under this Agreement without our consent.
Benefit. This Agreement is for your benefit and our benefit only, and no other individuals or entities have rights under this Agreement.
Invalidity. The invalidity or illegality of any provision of this Agreement will not affect the remainder of this Agreement.
Governing Law. This Agreement will be governed by the laws of the state or jurisdiction where the Account is located including the Uniform Commercial Code as adopted by that state or jurisdiction and as varied by this agreement.