MOBILE REMOTE DEPOSIT CAPTURE SERVICES AGREEMENT
In this Agreement, the words “you” and “your” mean the (consumer) that applied for and/or uses any of the Mobile Remote Deposit Capture Services (the “Services”) described in this Agreement. The words “we,” “us” and “our” mean Presidential Bank (the Bank). Your Application for use of the Mobile Remote Deposit Capture Services, our notification of approval of your application, and our Deposit Account Rules and Regulations are hereby incorporated into and made a part of this Agreement. In the event of a discrepancy between this Agreement and your Application, our approval, or the Deposit Account Rules and Regulations, this Agreement will control.

Use of the Services.  In order to use the Services, you need to (a) be 18 or older and (b) have the power to enter a binding contract with us and are not barred from doing so under any applicable laws. You also warrant that any registration information that you submit to us is true, accurate and complete, and you agree to keep it that way at all times. Following receipt of our notification approving your use of the Services (applications are reviewed within 2-business days), you are authorized by us to remotely deposit paper checks you receive to your account with us (the “Account”) by electronically transmitting a digital image of the paper checks to us for deposit. Your use of the Services constitutes your acceptance of the terms and conditions of this Agreement. Upon receipt of the digital image, we will review the image for acceptability. You understand and agree that receipt of an image does not occur until after we notify you of receipt of the image via the Deposit History feature. You understand that, in the event you receive a notification from us confirming receipt of an image, such notification does not mean that the image contains no errors or that we are responsible for any information you transmit to us. We are not responsible for any image that we do not receive. Following receipt of the image, we may process the image by preparing a “substitute check” or clearing the item as an image. Notwithstanding anything to the contrary, we reserve the right, within our sole and absolute discretion, to accept or reject any item for remote deposit into your Account. You understand that any amount credited to your Account for items deposited using the Services is a provisional credit and you agree to indemnify us against any loss you suffer because of our acceptance of the remotely deposited check.

In addition you agree that you will not (i) modify, change, alter, translate, create derivative works from, reverse engineer, disassemble or decompile the technology or Service, (ii) copy or reproduce all or any part of the technology or Service; or (iii) interfere, or attempt to interfere, with the technology or Service.

Compliance with Law.  You agree to use the products and Service for lawful purposes and in compliance with all applicable laws, rules and regulations. You warrant that you will only transmit acceptable items for deposit and have handled the original items in accordance with applicable laws, rules and regulations. You promise to indemnify and hold us harmless from any damages, liabilities, costs, expenses (including attorney’s fees) or other harm arising out of any violation thereof. This indemnity will survive termination of your Account and this Agreement.

Check Requirements.  Any image of a check that you transmit to us must accurately and legibly provide all the information on the front and back of the check at the time presented to you by the drawer. The image of the check transmitted to us must accurately and legibly provide, among other things, the following information: (1) the information identifying the drawer and the paying bank that is preprinted on the check, including complete and accurate MICR information and the signature(s); and (2) other information placed on the check prior to the time an image of the check is captured, such as any required identification written on the front of the check and any endorsements applied to the back of the check. The image quality for the check will meet the standards for image quality established by the American National Standards Institute (“ANSI”), the Board of Governors of the Federal Reserve, and any other regulatory agency, clearing house or association.

Endorsement Requirements: Prior to capturing the original check, you will endorse the back of the original check. Your written or stamped endorsement should include your account number, signature and the words “For Mobile Deposit only to Presidential Bank”.

Rejection of Deposit.  We are not liable for any service or late charges levied against you due to our rejection of any item. In all cases, you are responsible for any loss or overdraft plus any applicable fees to your Account due to an item being returned.

Items Returned Unpaid.  A written notice will be sent to you of transactions we are unable to process because of returned items. With respect to any item that you transmit to us for remote deposit that we credit to your Account, in the event such item is dishonored, you authorize us to debit the amount of such item from the Account.

Email Address.  You agree to notify us immediately if you change your email address, as this is the email address where we will send you notification of receipt of remote deposit items.

Unavailability of Services.  You understand and agree that the Services may at times be temporarily unavailable due to the Financial Institution’s system maintenance or technical difficulties including those of the Internet service provider, cellular service provider and Internet software. In the event that the Services are unavailable, you acknowledge that you can deposit an original check at our branches or through our ATMs or by mailing the original check to us at Presidential Bank, Attn: Operations Teller, 4520 East-West Hwy, Bethesda, MD 20814. It is your sole responsibility to verify that items deposited using the Services have been received and accepted for deposit by us. However, we will email notification of items that are rejected by the next business day following rejection.

Business Day.  Our business days are Monday through Friday, except holidays or days we are closed.

Funds Availability. You agree that items transmitted using the Services are not subject to the funds availability requirements of Federal Reserve Board Regulation CC.  For purposes of funds availability, Mobile Remote Deposits are made in Bethesda, Maryland. Mobile Remote Deposits confirmed as received before 4:00 PM Eastern Time on a business day will be credited to your account the same day. Deposits confirmed received after 4:00 PM and deposits confirmed received on holidays or on a day we are not open, will be credited to your account on the following business day we are open.  Funds will be made available based on your business day aggregate deposit, including deposits by mail, in person, at an ATM and Mobile Remote Deposit.  The first $200.00 of your aggregate deposit will be available the first business day after your deposit.  The remaining funds (up to $4,800) of your aggregate daily deposit will be available on the second business day after your deposit.  Any aggregate daily deposit amount in excess of $5,000 will be available on the fifth business day after your deposit.  Notice of Delayed Availability may not apply.

Accountholder’s Warranties.  You make the following warranties and representations with respect to each image of an original check you transmit to us utilizing the Services:
  1. Each image of a check transmitted to us is a true and accurate rendition of the front and back of the original check, without any alteration, and the drawer of the check has no defense against payment of the check.
  2. The amount, the payee, signature(s), and endorsement(s) on the original check are legible, genuine, and accurate.
  3. You will not deposit or otherwise endorse to a third party the original item (the original check) and no person will receive a transfer, presentment, or return of, or otherwise be charged for, the item (either the original item, or a paper or electronic representation of the original item) such that the person will be asked to make payment based on an item it has already paid.
  4. Other than the digital image of an original check that you remotely deposit through our Services, there are no other duplicate images of the original check.
  5. The original check was authorized by the drawer in the amount stated on the original check and to the payee stated on the original check.
  6. You are authorized to enforce each item transmitted or are authorized to obtain payment of each item on behalf of a person entitled to enforce such transmitted item.
  7. The information you provided in your Application remains true and correct and, in the event any such information changes, you will immediately notify us of the change.
  8. You have not knowingly failed to communicate any material information to us.
  9. You have possession of each original check deposited using the Services and no party will submit the original check for payment.
  10. Files and images transmitted to us will contain no viruses or any other disabling features that may have an adverse impact on our network, data, or related systems.
Storage of Original Checks.  You must securely store each original check for a period of 90 days after transmission to us and make the original check accessible to us at our request.  Upon our request from time to time, you will deliver to us within one day, at your expense, the requested original check in your possession. If not provided in a timely manner, such amount will be reversed from your account.  After such period expires, you will destroy the original check by first marking it “VOID” and then destroying it by cross-cut shredding or another commercially acceptable means of destruction.

You understand and agree that you are responsible for any loss caused by your failure to secure the original checks. You will notify us immediately by telephone at 800-383-6266 or 240-333-9059, followed by written confirmation, if you learn of any loss or theft of original checks.  You will ensure the safety and integrity of original check from the time of receipt until the time of destruction.

Mobile Deposit Security.  When using Mobile Remote Deposit Capture, you understand that check images captured using your mobile device is stored on the device only until the associated deposit has been successfully submitted. You agree to promptly complete each deposit. In the event that you are unable to promptly complete your deposit, you agree to ensure that your mobile device remains securely in your possession until the deposit has been completed or to delete the associated images from the application. You are responsible for protecting your mobile device against unauthorized access as well as any losses or damages from unauthorized access.  You will protect your mobile device, establish strong passwords and take other reasonable security precautions to protect your mobile device from unauthorized access.   If warranted in our reasonable judgment, we may audit and monitor you, and you agree to cooperate with us to permit such monitoring, to confirm you have satisfied your obligations under this Agreement.

You will also: (1) keep your passwords secret and change them regularly; (2) limit access to your Mobile Device and passwords to those who have a legitimate need for them; (3) supervise all people that you allow to use the Services; (4) regularly monitor access and use of the Services including promptly reviewing your Account statements; (5) tell us immediately when your Mobile Device is lost or stolen or you believe there has been any unauthorized activity involving the Services; and (6) promptly change your passwords and remove anyone who is no longer authorized to use the Services.

Accountholder’s Indemnification Obligation.  You understand and agree that you are required to indemnify us and hold us harmless against any and all claims, actions, damages, liabilities, costs, and expenses, including reasonable attorneys’ fees and expenses arising from your use of the Services and/or breach of this Agreement. You understand and agree that this paragraph shall survive the termination of this Agreement.

In Case of Errors.  You understand and agree that you are required to notify us of any error relating to images transmitted using the Services by no later than 60 days after we sent you the first statement or made it available online that includes any transaction you allege is erroneous. You are responsible for any errors that you fail to bring to our attention within such time period.  In the event that you believe there has been an error with respect to any original check or image thereof transmitted to us for deposit or a breach of this Agreement, you will immediately contact us regarding such error or breach as set forth below.
 
Telephone us at: 1-800-383-6266 or 240-333-9059

LIMITATION OF LIABILITY.  YOU AGREE THAT WE WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES INCURRED BY YOU OR ANY THIRD PARTY ARISING FROM OR RELATED TO THE USE OF, INABILITY TO USE, OR THE TERMINATION OF THE USE OF ANY MOBILE DEPOSIT SERVICE, REGARDLESS OF THE FORM OF ACTION OR CLAIM (WHETHER CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF WE HAVE BEEN INFORMED OF THE POSSIBILITY THEREOF, EXCEPT AS OTHERWISE REQUIRED BY LAW.

WARRANTIES.  YOU UNDERSTAND THAT THE FINANCIAL INSTITUTION DOES NOT MAKE ANY WARRANTIES ON EQUIPMENT, HARDWARE, SOFTWARE OR INTERNET PROVIDER SERVICE, OR ANY PART OF THEM, EXPRESSED OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE FINANCIAL INSTITUTION IS NOT RESPONSIBLE FOR ANY LOSS, INJURY OR DAMAGES, WHETHER DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL, CAUSED BY THE INTERNET PROVIDER, ANY RELATED SOFTWARE, OR THE FINANCIAL INSTITUTION’S USE OF ANY OF THEM OR ARISING IN ANY WAY FROM THE INSTALLATION, USE, OR MAINTENANCE OF YOUR PERSONAL COMPUTER HARDWARE, SOFTWARE, OR OTHER EQUIPMENT.

Change in Terms.  We may change the terms and charges for the Services indicated in this Agreement by notifying you of such change in writing or electronic and may amend, modify, add to, or delete from this Agreement from time to time. Your use of the Services after receipt of notification of any change by us constitutes your acceptance of the change.

Cooperation with Investigations. You agree to cooperate with us in the investigation of 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 deposited through the Service in your possession and your records relating to such items and transmissions.

Termination of the Services.  You may, by written request, terminate the Services provided for in this Agreement. We reserve the right to suspend or terminate your use of the Services without notice to you, for any reason. In the event of termination of the Services, you will remain liable for all transactions performed on your Account.

Relationship to Other Disclosures.  The information in these Disclosures applies only to the Services described herein. Provisions in other disclosure documents, as may be revised from time to time, remain effective for all other aspects of the Account.

Governing Law.  You understand and agree that this Agreement and all questions relating to its validity, interpretation, performance, and enforcement shall be governed by and construed in accordance with the internal laws of the State of Maryland, notwithstanding any conflict-of-laws doctrines of such state or other jurisdiction to the contrary. You also agree to submit to the personal jurisdiction of the courts of the State of Maryland.

Periodic Statement.  Any remote deposits made through the Services will be reflected on your monthly account statement.

Limitations on Frequency and Dollar Amount.  You understand and agree that you cannot exceed the limitations on frequency and dollar amounts of remote deposits that are set forth by us.

The Services are subject to limits including per item, daily and monthly limits on the dollar amounts of images you can transmit. We can modify these limits and add others at any time at our option.

We will inform you of your limits when you enroll in the Services.

Unacceptable Deposits.  You understand and agree that you are not permitted to deposit the following items using the Services:
  1. Checks drawn by you or any other person on any of your accounts or any account which you are an authorized signer or joint account holder.
  2. Any item that is stamped with a “non-negotiable” watermark.
  3. Any item that contains evidence of alteration to the information on the check.
  4. Any item not issued in U.S. Dollars or not drawn on a U.S financial institution.
  5. Any item that is incomplete.
  6. Any item that is “stale dated” or “post dated.”
  7. Savings Bonds, Travelers Cheques or Money Orders.
  8. Checks payable to Cash.
  9. Insurance claim checks.
  10. Treasury checks.
  11. Checks payable jointly unless deposited into an account in the names of all payees.
  12. Any third party check, i.e., any item that is made payable to another party and then endorsed to you by such party.
  13. Checks authorized over the telephone and created remotely. These are sometimes called “remotely created checks” or “telephone checks”.
  14. Images of a check that never existed in paper form. These are sometimes called “electronically created items”.
  15. Checks that have already been deposited or returned.
Changes in Financial Circumstances.  You understand and agree that you must inform us immediately in the event a material change in your financial circumstances or in any of the information provided in your Application for any Online Banking services. You agree to provide us any financial records we reasonably request during the term of this Agreement. You authorize us to review your history with eFunds/ChexSystems or Deluxe Detect from time to time.

Confidentiality.  You acknowledge and agree that confidential data relating to our Services, marketing, strategies, business operations and business systems (collectively, “Confidential Information”) may come into your possession in connection with this Agreement. You understand and agree that you are prohibited from disclosing and agree to maintain the confidentiality of our Confidential Information.

Waiver.  The failure of either party to seek a redress for violation, or to insist upon the strict performance, of any covenant, agreement, provision, or condition hereof shall not constitute the waiver of the terms or of the terms of any other covenant, agreement, provision, or condition, and each party shall have all remedies provided herein with respect to any subsequent act which would have originally constituted the violation hereunder.

Relationship.  This Agreement does not create, and shall not be construed to create, any joint venture or partnership between the parties. No officer, employee, agent, servant, or independent contractor of either party shall at any time be deemed to be an employee, servant, agent, or contractor of the other party for any purpose whatsoever.
Last Modifications: 10/22/2015 12:55:48 PM