MOBILE DEPOSITS

Make a Deposit

The Village Bank Mobile Check Deposit is a service that allows you to remotely deposit paper checks into an eligible Village Bank account by creating an Electronic Deposit through our Mobile Remote Deposit Capture (MRDC) system. We will process and collect the Electronic Deposit through the check collection system just as we would a paper check deposited with a teller.

Qualification

In order to enroll in this service, you must be designated as an authorized signer or owner of The Village Bank account (the “Account”) that is eligible for this service and be approved by The Village Bank.

 

Conditions

 

As conditions to the Bank’s provision of service, you must maintain the Account in good standing and comply with requirements and restrictions set forth in these Terms and Conditions, as well as those of the Deposit Account Agreement.

 

Fees

A processing charge of $0.55 will be assessed for each deposited item.

 

Determination of Items Eligible for Mobile Check Deposit Capture (MRDC)

 

You may only create a Check Image of items made payable to you individually or to you alternatively with another person or persons (John Doe or Jane Doe); jointly payable items (John Doe and Jane Doe) may not be deposited using MRDC.

 

MRDC allows you to deposit most U.S. consumer and business checks; however certain checks are not supported through the remote deposit channel.  These items include but are not limited to: third party checks, foreign checks, substitute checks, government bonds, checks payable in a medium other than U.S. dollars, U.S., state, or other savings bonds.

 

Inspecting Physical Checks and Check Images 

• You are responsible for inspecting both the physical check items and check images as they appear on the screen of your mobile device.  Because some physical security features on the actual checks, such as watermarks, may not survive the imaging process, you must manually examine checks prior to transmission to the bank to verify their authenticity.
• Additionally, when depositing a check via MRDC, you are required to examine check images to ensure the payee name, amount, signature and other important pieces of information are legible and in accordance with the physical check. If they are not, cancel the photograph and photograph the item again.
• Any original paper check items that remain illegible after repeated scanning/photographing attempts must be physically deposited at a branch of The Village Bank.
• You should regularly inspect your mobile image camera to ensure that it is operating optimally. Please refer to the user manual of your mobile device for instructions on equipment cleaning and care.

 

MICR Lines on the Check 

The bottom of your check contains numeric information that identifies the bank the check is drawn on, the account number and the check number.  This information is known as the MICR line (Magnetic Ink Character Recognition).  A MICR defect, such as a tear in the MICR line, or markings over the MICR line may inhibit the scanner or mobile phone’s ability to read this information.  If you receive error messages indicating that the mobile phone is unable to read the MICR line, the check with defects in the MICR line must be physically deposited at the branch.

 

Marking Electronically Deposited Checks as Deposited

To help ensure that an electronically deposited check is not processed multiple times either as an electronic item and/or a physical check, The Village Bank requires that you write “For Mobile Deposit at The Village Bank” followed by your signature on the endorsement line of the check to indicate that it will only be deposited electronically.  The Village Bank may refuse to accept items which are not endorsed in this manner.  Marking a check in this way will also allow you to identify that the item has been photographed and deposited if it becomes intermingled with other undeposited checks.

 

Check Safekeeping, Retention and Destruction

• Check storage and the destruction of items processed through MRD is your responsibility because the paper checks are never physically deposited with the bank.
• The Village Bank requires that MRDC customers use commercially reasonable methods to securely store all source documents and all related banking information until destruction.  We require that deposited check items be securely stored.  To help ensure that checks are not electronically processed more than once or physically deposited at the bank after being electronically deposited, procedures should be established to ensure that only you or another account owner has access to these checks during the retention period.
• Checks should be retained for at least seven business days after the deposit is made in case a check is returned and you need to collect on the check by re-depositing the original item.  All items must thereafter be destroyed as soon as reasonably possible. The Village Bank requires destruction of all checks within 30 days from deposit.  Cross-cut shredding is strongly recommended for check destruction.

If you believe you may have deposited a check item more than once, please contact The Village Bank Customer Service immediately at 618-768-4404.  Do not re-scan/photograph the items.  The Village Bank will provide assistance in determining the best approach for managing the situation.

 

Submitting an Electronic Deposit

 

Confirmation-You will receive a message from The Village Bank the same business day that you submit a deposit that will indicate whether we have accepted or rejected your deposit. An Electronic Deposit is not considered “received” by us unless we send you a message confirming that the Electronic Deposit was received and accepted.

 

Deposit Limits

Currently there is a no daily deposit limit.  The Village Bank reserves the right to amend this limit at any time.

Processing your Electronic Item(s)/Availability of Funds.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal Holidays.  If you transmit your Electronic Item(s) to The Village Bank before 3:00 p.m. CST (the “Cut-Off Time”) on any business day, we shall review and process your Electronic Item(s) on that business day.  If you transmit your Electronic Item(s) to us after the Cut-Off time on any business day, we shall review and process your Electronic Item(s) on the next business day.  Your Electronic Item(s) is deemed to have been received by the Bank when the service generates a confirmation message.

 

Returned or Rejected Items

Returns- If a check that is deposited using Mobile Check Deposit is returned to us for any reason (such as non-sufficient funds); you agree that we may charge your account for any and all fees associated with the returned item.

Rejections– We will notify you whether your deposit is accepted or rejected; you will not be charge the service fee for rejected items. Items that are rejected for deposit using MRDC may be re-presented for deposit at a physical branch.

Warranties

FAILURE TO PROTECT YOUR HARDWARE AND SECURITY CREDENTIALS MAY ALLOW AN UNAUTHORIZED PARTY TO ACCESS THE SERVICE AND TRANSMIT AN ELECTRONIC ITEM FOR DEPOSIT.  ALL USES OF THE SERVICE THROUGH YOUR SECURITY CREDENTIALS WILL BE DEEMED TO BE AUTHORIZED BY YOU AND BE BINDING UPON YOU.  YOU ASSUME THE ENTIRE RISK FOR THE FRAUDULENT OR UNAUTHORIZED USE OF YOUR SECURITY CREDENTIALS.  YOU AGREE TO (I) EXERCISE RESPONSIBLE BEHAVIOR WHEN USING THE SERVICE, (II) FOLLOW THE INSTRUCTIONS AND RECOMMENDATIONS THAT THE VILLAGE BANK PROVIDES YOU WITH RESPECT TO THE SERVICE AND (III) USE MAXIMUM CAUTION IN PROTECTING YOUR HARDWARE AND SECURITY CREDENTIALS FROM UNAUTHORIZED ACCESS.  YOU AGREE TO NOTIFY THE VILLAGE BANK IMMEDIATELY IF YOU BECOME AWARE OF ANY LOSS OR THEFT OF, OR ANY UNAUTHORIZED USE OF THE SERVICE OR YOUR SECURITY CREDENTIALS.

 

You will use the service only for paper items that are payable to, and endorsed by you.

 

You will properly secure all hardware you use in connection with the Service (including, but not limited to, securing the hardware with 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 retain the original paper items as discussed in the Check Safekeeping, Record Retention and Destruction section of this document.