Deposit User Agreement
SVB Private Bank Deposit User Agreement (“Agreement”)
Updated November 20, 2013
This Agreement applies to your use of the Silicon Valley Bank>Private Bank’s remote deposit service, which we call SVB Private Bank Deposit. By clicking below, you agree that these terms will apply to SVB Private Bank Deposit and through the associated remote deposit capture services that we (“we,” “us,” or “our”) may provide to you.
You should read this Agreement in full, and keep a copy for your records. (This Agreement will also be available to view in Internet Banking). While the full Agreement applies, here is a summary of some important terms:
- Using your mobile device, SVB Private Bank Deposit lets you deposit checks with us, subject to terms of this Agreement. Normally, your deposits are limited to $50,000 per check and $100,000 per day via SVB Private Bank Deposit.
- For security, you must keep your deposited checks in a safe and secure place.Generally, you should destroy checks 45 days after the deposit has cleared your account. (There can be some exceptions to this – see below).
- Some checks should not be deposited using SVB Private Bank Deposit. Foreign checks, two-party checks and checks drawn on other accounts of yours are good examples of ineligible items – see below.
- Funds from SVB Private Bank Deposit deposits will generally be available to you in two business days. These checks are not covered by our funds availability policy, and so can have a longer delay or hold depending on many factors – see section 9 below.
- Low quality images – if the electronic image you upload to us does not meet our processing standards, we will let you know by email. Sometimes you may need to deposit a check in person or by mail (for example, low quality image, or ineligible check). Don’t destroy a check immediately, since you may need the paper item if there are problems using SVB Private Bank Deposit.
You agree to comply with instructions, FAQs, “Help” screens, and other terms and conditions that are presented or made available to you when you use SVB Private Bank Deposit. The SVB Deposit Agreement and Disclosure Statement (DADS) and these other terms are incorporated by reference and are hereby made a part of this Agreement.
- Services. The SVB Private Bank Deposit services are designed to allow you to deposit paper “checks” (as defined in our Deposit Agreement and Disclosure Statement, hereinafter the “DADS”) to your checking or savings (including money market savings) accounts from home or from other remote locations. You will need our SVB Private Bank Deposit application installed on your mobile device. Supported devices include those operating on the iOS®, iPhone® and Android® systems. You create an electronic image of the check by taking a picture (scanning) it and following the on-screen instructions. This delivers the electronic image and associated deposit information to us or to our designated processor. When we receive the image, a “Deposit Received Notification” is presented on your mobile device and you will have the option to email the confirmation message. If the image meets our image quality standards and passes some preliminary screening programs, we send you a “Deposit Approved Notification” message and begin to process your check.
- Acceptance of Terms. Your use of SVB Private Bank Deposit constitutes your acceptance of this Agreement.This Agreement is a Related Agreement under the DADS and is subject to change (as defined by and in accordance with the DADS). If there are inconsistencies, the terms of this Agreement will control those of the DADS. Your continued use of SVB Private Bank Deposit will indicate your acceptance of the revised Agreement.We also reserve the right, at any time and at our sole discretion, to change, modify, add, or remove portions of the SVB Private Bank Deposit services.Your continued use of SVB Private Bank Deposit will also indicate your acceptance of any such changes to the SVB Private Bank Deposit services.
- Limitations on SVB Private Bank Deposit services.
a. There can be technical and/or other difficulties that prevent or impair your ability to use this service. If there are, we are not responsible for any resulting damages. We are not responsible for any check unless and until after it is both (a) received by us as an imaged item and (b) you receive a “Deposit Received Notification” message from us (which confirms to you that we have received and are processing the check).
b. We reserve the right not to accept a check for deposit through the service, with or without cause or prior notice to you. We also may change, suspend or discontinue SVB Private Bank Deposit and/or your use of SVB Private Bank Deposit, in whole or in part, immediately and at any time and with or without cause or prior notice to you.
c. You agree that you will not use SVB Private Bank Deposit to scan and deposit any check in an amount greater than $50,000, or any combination of checks in amount aggregating more than $100,000 in amount on any calendar day. We reserve the right to impose varying limits on individual checks or aggregate daily limits, at any time and without or without cause or prior notice to you.
d. You agree that you will not use SVB Private Bank Deposit to scan and deposit any check that is: (i) payable to any person other than you (for example, no “two-party checks”); (ii) drawn on any of your accounts or on any account where you are an authorized signer or joint account holder (excepting salary or payroll); (iii) altered or which you do or should know or suspect is fraudulent or otherwise not authorized by the owner of the affected account; (iv) a substitute check, as defined in Regulation CC or previously converted to a substitute check; (v) drawn on a financial institution located outside the United States, or payable in other than United States currency; (vi) a demand draft (or “remotely created check,” as defined in Regulation CC); (vii) dated more than 6 months prior to the date of deposit or any time after the date of deposit; (viii) not a paper instrument; or (ix) otherwise prohibited by our agreements with you or otherwise not acceptable under the terms of your account with us.
- Image Quality. The image of a check must be legible and must meet our image quality standards.Our image quality of the items must at a minimum comply with the requirements established from time to time by ANSI, the Board of Governors of the Federal Reserve Board, or any other regulatory agency, clearing house or association.
- Endorsements and Procedures. You agree to restrictively endorse any item transmitted through SVB Private Bank Deposit as “For deposit only, Silicon Valley Bank, account #______”.You agree to follow the procedures and instructions that we may disclose to you from time to time, including in FAQs or in “Help” menus that are presented to you in the application.
- Receipt of Items. An image of an item is deemed received only when you receive a confirmation from us. Generally, you will receive two messages. The first will inform you that the check image has been successfully received. The second message will inform you that the check image has been approved. This is confirmation that the check image has been received by us and is being processed.
The “Deposit Received Notification” confirmation does not mean that the transmission was error-free or complete. It does mean that the imaged check was capable of being processed by us or by our service provider, but the imaged check can be returned, rejected or otherwise fail to clear and settle. We reserve the right to reject or reverse any credit given on a deposit even if you have received a second message advising approval to the extent allowed by our agreements with you or by law.
- Safekeeping; Destruction of Original Checks. You agree to store all your deposited checks in a safe location. We suggest that you store and maintain access to the original paper check until at least forty-five (45) calendar days the deposit has cleared your account.. After the forty-fifth day, we recommend that you destroy your original paper checks unless you believe that any particular original paper check may subsequently be needed or useful (for example, the amount is material, or the check may be useful in connection with disputes regarding payment).
- Duplicate Presentment/Payment. You agree not to deposit or present a check for collection, encashment or payment, or to otherwise negotiate or transfer an item, after the check has been scanned and submitted to us via SVB Private Bank Deposit (“Duplicate Presentment”), unless (a) we agree in advance, or (b) you have received notice from us that the deposit was returned to us and that any previously granted credit to your account has been reversed and paid to us. You agree not to use SVB Private Bank Deposit to deposit any check that has previously been cashed, paid or negotiated (“Duplicate Payment”). You may elect to mark/write on the check “Scanned” or “Deposited” once the deposit has cleared your account.. You agree to prevent Duplicate Presentment or Duplicate Payment by others. This clause will survive termination of this Agreement.
- Availability of Funds. The proceeds of SVB Private Bank Deposit deposits will be available to you as follows: up to the first $1000 will be made available to you once the deposit(s) are posted to your account and any remaining deposit amount will be made available after 2 business days. . These deposits are not covered by our funds availability policy, and a longer delay or hold may occur. We may (but are not required to) make funds available sooner based on such factors as size of the deposit, creditworthiness, the length and extent of your relationship with us, transaction and experience information, and such other factors as we may in our sole discretion deem relevant.
- Deposit Limits. We reserve the right to impose limits on the amount(s) and/or number of deposits that you transmit using SVB Private Bank Deposit and to modify such limits from time to time.
- Hardware and Software. In order to use SVB Private Bank Deposit, you must obtain and maintain, at your expense, compatible hardware and software.These can change from time to time. See http://www.svb.com/pb/mobile for current hardware and software specifications.We are not responsible for any third party software you need or use in connection with SVB Private Bank Deposit.Third party software (for example, iTunes or other Apple software) that is accepted or used by you is subject to the terms and conditions of any agreement you enter into with the third party software provider.
- Errors; Adjustments. You agree to notify us of any suspected problems or errors regarding checks deposited through SVB Private Bank Deposit right away and in accordance with the DADS. If you do not, you may under the DADS be precluded from asserting an alteration, forged signature or other error. We may make adjustments to correct errors, including after you receive a “Deposit Received Notification”.
- Processing. You may use SVB Private Bank Deposit for non-business, personal use, and agree only to deposit checks you receive for consumer (that is, personal, family or household) purposes. You authorize us to process and present for payment, collect and/or accept returns on and otherwise to deal with checks that you deposit through SVB Private Bank Deposit in any manner chosen by us and that is allowed by law (including clearinghouse rules or our agreements with other financial institutions) for paper or for electronic items or images. Without limiting our rights to reverse or adjust for any returned check or image, you authorize us to accept and deposit to your account any check received by us through SVB Private Bank Deposit without any obligation on our part (a) to ensure that the check or that an electronic image complies with this Agreement or (b) to verify authenticity or (c) that the check is or was properly payable to you. You will promptly provide any check you have in storage, or a sufficient copy of the front and back of the check, to us if we ask you for it (for example, to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for our internal or audit purposes).
- Ownership and License. You agree that we retain all ownership and proprietary rights in SVB Private Bank Deposit, associated content, technology, and website(s).Without limiting any other provision of this Agreement any breach of this Agreement provides to us the right immediately to terminate your right to use SVB Private Bank DepositYou may not copy, reproduce, distribute or create derivative works from the content and agree not to reverse engineer or reverse compile any of the technology used to provide SVB Private Bank Deposit.
- DISCLAIMER OF WARRANTIES. YOU AGREE THAT YOUR USE OF ANY REMOTE BANKING SERVICE AND ALL INFORMATION AND CONTENT (INCLUDING THAT OF THIRD PARTIES) IS AT YOUR RISK AND IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE DISCLAIM ALL WARRANTIES OF ANY KIND AS TO THE USE OF ANY REMOTE BANKING SERVICE, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. WE MAKE NO WARRANTY THAT ANY REMOTE BANKING SERVICE WILL MEET YOUR REQUIREMENTS OR WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE. WE MAKE NO WARRANTY THAT THE RESULTS THAT MAY BE OBTAINED WILL BE ACCURATE OR RELIABLE OR THAT ANY ERRORS IN ANY REMOTE BANKING SERVICE OR TECHNOLOGY WILL BE CORRECTED.
- 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 REMOTE BANKING 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.
- INDEMNITY. You understand and agree that you are required to indemnify our technology partners, including but not limited to Digital Insight. (Digital Insight) and Vertifi Software, LLC (Vertifi), and hold harmless Digital Insight, its affiliates, officers, employees and agents, as well as Vertifi, its affiliates, officers, employees, and agents, from and against any third party claims, suits, proceedings, actions or demands, including to claims of another financial institution, business entity or governmental authority, and all losses, liabilities, damages, fines, penalties, costs and expenses, including court costs and reasonable attorney fees and expenses, arising from such claims, to the extent such claim is related to FI or End User’s use of the Services, Vertifi or Digital Insight Applications, unless such claim directly results from an action or omission made by Digital Insight or Vertifi in bad faith. You understand and agree that this paragraph shall survive the termination of this Agreement.
- Your Responsibility. You agree that you will not modify, change, alter, translate, create derivative works from, reverse engineer, disassemble or decompile the technology or Service , copy or reproduce all or any part of the technology or Service ; or interfere, or attempt to interfere, with the technology or Service. We and our technology partners, inclusive of, but not limited to, Digital Insight. and Vertifi Software, LLC, retain all rights, title and interests in and to the Services, Software and Development made available to you.
- Other terms. You may not assign this Agreement. If we refrain from enforcing any term of this Agreement (for example, if we allow deposit of checks higher than the limits established above), we are not amending the Agreement or prevented from enforcing that term afterwards. If we waive a limitation at your request, you are responsible for any loss or damage that might arise that could have been prevented or avoided if you had not requested or if we had not acceded to your request for the waiver. A determination that any provision of this Agreement is unenforceable or invalid shall not render any other provision of this Agreement unenforceable or invalid.
iOS and iPhone is a trademark of Apple Inc.
Android is a trademark of Google Inc.