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Mobile Deposit Terms and Conditions

Service Description: Mobile Deposit uses a smartphone camera to take a picture of the front and back of each check and submit the images electronically to make deposits to your checking or savings accounts. When capturing the images, visual brackets provide a guide for centering the check. Each check image is analyzed for quality upon submission. If the image does not pass, you are immediately notified and can re-capture the check image. You can cancel the transaction at any time during the mobile deposit process. However, once the transaction has been submitted, it cannot be cancelled.

Requirements: To use this service, you must be at least 18 years of age or older, have an online banking account, a supported mobile device, and the Touch Banking App installed on your mobile device. Mobile Deposit Applications must be submitted to Lyons Federal Bank (Bank) for approval.

Fees: For Checking and Money Market Accounts, a service charge of $0.50 will be imposed for every mobile deposit in excess of 5 per monthly statement cycle if the average daily balance for that statement cycle falls below $1000. The average daily balance is calculated by adding the principal in the account each day of the period and dividing that figure by the number of days in that period. For Savings Accounts, a service charge of $0.50 will be imposed for every mobile deposit in excess of 10 per quarterly statement cycle.

Deposit Limits: Lyons Federal Bank reserves the right to establish and assign limits for Mobile Deposit (including limits on the dollar amount of your deposit and the number and frequency of your deposits) and to modify such limits from time to time in Bank’s sole discretion. You agree to comply with all such limits. Current limits are: $2500 per check limit, $2500 daily deposit limit. Bank may allow these limits to be exceeded at its sole discretion. Checks for less than $10 should not be deposited through Mobile Deposit.

Eligible Items: We can accept checks payable to you, drawn on a U.S. Bank. We cannot accept; checks payable to any person or entity other than the person or entity that owns the account that the check is being deposited into, checks payable jointly unless deposited into an account in the name of all payees, traveler’s checks, money orders, savings bonds, checks drawn on a financial institution located outside of the U.S., checks not payable in U.S. currency, substitute checks, returned checks, altered checks, checks dated more than 6 months prior to the date of deposit or checks dated in the future and remotely created checks (such as checks created by a merchant with a buyer’s checking account number on it, but without the buyer’s original signature).

You agree not to make duplicate deposits of the same check. You agree not to deposit with Lyons Federal Bank any item that you have previously deposited with Bank, any item that you have previously deposited with another bank or any item that you have previously transferred to anyone else, regardless whether the previous deposit or transfer was the original check or an image of the check.

Endorsements: All checks deposited via mobile deposit must include “For mobile deposit only, Lyons Federal Bank, <current date>”, below your signature in the endorsement area on the back of the check or the deposit may be rejected. Although some checks have a preprinted box to indicate mobile deposit, checking this box does not complete the endorsement requirement. Any loss the bank incurs from a delay or processing error resulting from an irregular endorsement or other markings by you will be your responsibility.

Deposit Cut-off Time and Availability of Funds: You acknowledge that Mobile Deposits are not subject to Bank’s normal funds availability policy. However, if an image of an item you transmit through Mobile Deposit is received and accepted before 3:00 PM CST on a business day that Bank is open, Bank may consider that day to be the date of your deposit. Otherwise, Bank may consider the deposit as though made on the next business day Bank is open. A business day is defined as Monday through Friday, excluding federal holidays. Funds from Mobile Deposits will generally be available within two business days from the day of deposit. Bank reserves the right to place holds on checks as it deems necessary.

Image Quality Requirements: The check images presented to Bank must accurately represent all information on both sides of the check and check images must contain all endorsements.

Rejection of Deposits: All deposits received by Bank are subject to verification and final inspection. Bank may reject any deposit which it receives for any reason or no reason. Bank is not liable for any service or late charges that may be imposed against you due to Bank’s rejection of any deposit. In all cases, you remain responsible for any loss or overdraft and any applicable fees that result from the rejection of any deposit. The Bank may disregard any information written or printed on a check other than the signature of the drawer, the identification of the bank on which the check is drawn, the name of the payee, and the electronically encoded routing information on the check.

Items returned unpaid: The credit for each deposit Bank accepts is provisional. Bank may charge back to your account the amount of any items which are returned unpaid. Bank will normally provide you with notice of any deposited checks which are returned unpaid. In the event the Bank credits your account for a check that is subsequently returned, you authorize Bank to debit the amount of the check plus any associated fees from your account. To the extent the funds in your account are insufficient; Bank may debit any of your other accounts with Bank. Bank’s right to charge your account(s) will apply without regard to whether the check was timely returned or whether there is any other claim or defense that the check was improperly returned. Returned items will be made available to you in the form Bank chooses (for example, an image).

Your Responsibility: Each time you make a Mobile Deposit you represent and warrant to Bank that (i) the check being deposited is payable to and endorsed by you, reflects a bona fide payment to you by the drawer of the check and is not being deposited, directly or indirectly, for the benefit of any other person or entity, (ii) you are not aware of any reason that the check being deposited will not be paid; and (iii) as to each check being deposited: (1) you are a person entitled to enforce the check; (2) the check as not been altered; (3) the check bears all endorsements applied by parties that previously handled the check in any form (if any); and (4) no person will be charged for the check, or another paper or electronic representation of the check, such that they will be asked to make payment for a check that they have already paid. You also accept the same responsibilities and liabilities for each deposited check and the item the Bank converts it into that you would have had if you had deposited the original check in person.

Storage and Destruction of Original Check: You must securely store each original check you deposit using Mobile Deposit for a period of at least 7 days but not more than 30 days after the file has been accepted. During those 30 days you will take appropriate security measures to ensure that (i) the information contained on the check(s) is not disclosed, (ii) the checks will not be duplicated or scanned more than one time, and (iii) check will not be deposited or negotiated in any other way or form. After the 30 day period expires, you must write void on the original check and destroy it using a cross-cut shredder or similar means. You understand that you are responsible for any loss caused due to your failure to secure the original check(s).

Right to Terminate Service: Lyons Federal Bank reserves the right to terminate your ability to use this service for any reason including but not limited to, misuse of product, redeposited items, excessively overdrawn accounts and account abuse.