Discover the Convenience of Mobile Deposit with Wadena State Bank

In today’s fast-paced world, banking convenience is no longer a luxury—it’s an expectation. Wadena State Bank understands this, which is why we offer a robust and user-friendly Mobile Deposit Service. This service allows you to deposit checks from virtually anywhere, saving you time and streamlining your banking experience. This document outlines the terms and conditions governing your use of Wadena State Bank’s Mobile Deposit Service, ensuring you have a clear understanding of how to utilize this valuable tool effectively and securely. By using the Service, you are agreeing to the terms and conditions detailed below.

Understanding Wadena State Bank’s Mobile Deposit Service

Wadena State Bank’s Mobile Deposit Service is designed to provide you with the ultimate banking flexibility. Imagine depositing checks without needing to visit a branch or ATM. With our service, you can use your smartphone or tablet to securely deposit checks into your eligible Wadena State Bank checking, savings, or health savings account. This service works by allowing you to scan images of your checks and securely transmit these images and deposit information to Wadena State Bank or our designated third-party processor.

Acceptance of Terms: Your Agreement to Use the Service

By choosing to use Wadena State Bank’s Mobile Deposit Service, you acknowledge and agree to be bound by the terms and conditions set forth in this agreement. It’s important to understand that this agreement is subject to change. Wadena State Bank reserves the right to modify this agreement at any time. Should any material changes occur, we are committed to keeping you informed. Notifications of changes will be provided through various channels, including mail, email, text message, or updates on our website, ensuring you are always aware of the latest terms. Your continued use of the Mobile Deposit Service after any changes are implemented signifies your acceptance of the revised agreement. Furthermore, Wadena State Bank retains the right to modify, add to, or remove aspects of the Mobile Deposit Service at its discretion. Continuing to use the service after such modifications are made will be considered as your acceptance of these changes.

Terms and Conditions of Wadena State Bank Mobile Deposit

To take advantage of the convenience of mobile deposit at Wadena State Bank, certain conditions must be met to ensure security and compliance.

Prerequisites for Mobile Deposit

To utilize the Wadena State Bank Mobile Deposit Service, you must have a valid Wadena State Bank online banking account and the Wadena State Bank mobile banking application installed on your device. This ensures that the service is securely linked to your authorized bank accounts.

1. Key Features of Mobile Deposit

With Wadena State Bank Mobile Deposit, you gain the ability to perform the following transaction with ease:

Remote Check Deposit: Deposit individual checks directly into your Wadena State Bank checking, savings, and health savings accounts from the comfort of your home or any remote location. This is achieved by simply capturing images of the check through the Wadena State Bank mobile app and submitting the images along with the necessary deposit information.

2. Fees Associated with Mobile Deposit

Currently, Wadena State Bank is pleased to offer the Mobile Deposit Service to our customers without any fees. We believe in providing convenient banking solutions without adding extra costs. However, it is important to note that Wadena State Bank reserves the right to introduce fees for the use of this service in the future. In such an event, we commit to providing you with at least 30 days prior notice, as required by applicable law. This notice will give you ample time to decide whether to continue using the service under the new fee structure. If you choose to continue using the service after a fee becomes effective, you agree to pay the disclosed service fee, which may be updated from time to time. Any applicable fees will be automatically deducted from the account you designate for service charges, referred to as your “Billing Account.” Please also be aware that Wadena State Bank is not responsible for any charges you might incur from your mobile data provider or related equipment costs associated with using the Mobile Deposit Service.

3. Hardware and Software Requirements

To ensure a smooth and secure mobile deposit experience with Wadena State Bank, you are responsible for providing and maintaining the necessary technology. This includes:

Your Own Systems: You must obtain, install, maintain, and operate all software, hardware, and other equipment (collectively referred to as “Systems”) needed to access and use the Mobile Deposit Service. All costs associated with these systems are your responsibility.
Up-to-Date Technology: This includes using up-to-date mobile phones and/or access devices.
Security Software: It is crucial to utilize the best commercially available encryption, antivirus, anti-spyware, and internet security software to protect your banking information.
Third-Party Software: Wadena State Bank is not responsible for any third-party software you may need to use the Service. Any such software is provided “as is” and is governed by the terms and conditions of the software agreement between you and the third-party provider. You agree to these terms upon download and installation.

Compatible Devices:

For depositing checks using Wadena State Bank Mobile Deposit, your device must meet the following minimum requirements:

Apple iPhone: Operating System of 5.0 or higher.
Android Devices: Operating System of 2.1.1 or higher.

4. Mobile Deposit Cut-Off Times

Timing is important when making mobile deposits. To ensure your deposit is credited on the same business day, please adhere to the following cut-off time:

Deposit Deadline: Checks deposited via Mobile Deposit before 2:00 pm Central Time (CST) on any business day will be credited to your account on the same business day.
Deposits After Cut-Off: Deposits made after 2:00 pm (CST) on a business day, or on non-business days, will be processed on the next business day.

5. Service Limitations

While Wadena State Bank strives to provide a seamless Mobile Deposit Service, it’s important to be aware of potential limitations:

Technical Difficulties: You may occasionally encounter technical or other difficulties while using the Service. Wadena State Bank will attempt to post alerts on our website to inform you of any known service interruptions.
No Liability for Technical Issues: Wadena State Bank cannot be held responsible for any technical or other difficulties you may experience or any resulting damages.
Service Qualification and Changes: The Mobile Deposit Service may have certain qualification requirements, and Wadena State Bank reserves the right to modify these qualifications at any time without prior notice.
Service Modification or Termination: Wadena State Bank reserves the right to change, suspend, or discontinue the Mobile Deposit Service, in whole or in part, or your access to it, at any time, without prior notice.

6. Processing of Mobile Deposits

Understanding the processing timeline for your mobile deposits is essential:

Deposit Review and Processing: If you successfully transmit your electronic check item(s) to Wadena State Bank before the 2:00 pm CST cut-off time on a business day, we will review and process your deposit on that same business day.
Deposits After Cut-Off: Items transmitted after the cut-off time will be reviewed and processed on the next business day.
Confirmation of Receipt: Your electronic check item(s) are considered received by Wadena State Bank when the Mobile Deposit Service generates a confirmation message to you.

7. Eligible Check Items for Mobile Deposit

To ensure compliance and proper processing, it is crucial to understand what types of checks are eligible for mobile deposit through Wadena State Bank.

Definition of “Checks”: You agree to only scan and deposit “checks” as defined in Federal Reserve Regulation CC (“Reg. CC”).
Conversion to “Item”: When the image of the check is transmitted to Wadena State Bank and converted into an image for processing, it becomes an “item” as defined by Articles 3 and 4 of the Uniform Commercial Code.

Ineligible Items:

You agree not to scan and deposit the following types of checks or items, as they are considered ineligible:

Checks Payable to Others: Checks made payable to any person or entity other than the account holder at Wadena State Bank.
Returned Checks: Checks previously deposited and returned unpaid (e.g., due to Non-Sufficient Funds).
Altered or Suspect Checks: Checks containing alterations on the front, or checks that you know or suspect are fraudulent or unauthorized.
Checks Payable to Multiple Parties: Checks payable to two or more persons, where at least one person is not an account holder at Wadena State Bank.
Substitute or Image Replacement Checks: Checks that are not in their original form with a signature, such as substitute checks or image replacement documents.
Foreign Checks: Checks drawn on financial institutions located outside the United States.
Non-US Currency Checks: Checks not payable in United States currency.
Stale-Dated Checks: Checks dated more than 6 months prior to the deposit date.
Prohibited Checks: Checks or items prohibited by Wadena State Bank’s current service procedures or otherwise unacceptable under your account terms.
Improperly Endorsed Checks: Checks with any endorsement on the back other than what is specified in this agreement.
Previously Submitted Checks: Checks previously submitted through Mobile Deposit or any other remote deposit service.
Previously Deposited Checks: Checks previously deposited or negotiated at Wadena State Bank or any other financial institution through any method.
Illegal Items: Items that violate any federal or state law, rule, or regulation.
Savings Bonds, Withdrawal Slips, Traveler’s Checks, Credit Card Checks, Money Orders. These are not eligible for mobile deposit.

8. Endorsement Requirements and Deposit Procedures

Proper endorsement is crucial for mobile deposits to be processed smoothly by Wadena State Bank.

Restrictive Endorsement: You agree to restrictively endorse any check transmitted through the Service.
Endorsement Format: The endorsement must include the signature of the person the check is payable to, and below the signature, it must state: “WSB Mobile Deposit” or as otherwise instructed by Wadena State Bank.
Following Procedures: You agree to adhere to any and all other procedures and instructions for using the Mobile Deposit Service as Wadena State Bank may establish and communicate from time to time.

9. Receipt of Mobile Deposited Items

Wadena State Bank retains the right to manage the items deposited through the Mobile Deposit Service.

Right to Reject Items: Wadena State Bank reserves the right to reject any item transmitted through the Service at our discretion, without any liability to you.
No Responsibility for Unreceived or Dropped Images: We are not responsible for items that are not received or for images that are lost or dropped during transmission.
Confirmation of Image Receipt: An image of a check item is considered received when you receive a confirmation message from Wadena State Bank indicating successful receipt. However, this confirmation does not guarantee that the transmission was error-free, complete, or that the deposit will be credited to your account.
Chargeback of Ineligible Items: Wadena State Bank reserves the right to charge back to your account at any time any item that is subsequently determined to be ineligible for mobile deposit.
No Liability for Chargeback Losses: You agree that Wadena State Bank is not liable for any losses, costs, or fees you may incur as a result of our chargeback of an ineligible item.

10. Funds Availability Policy for Mobile Deposits

Wadena State Bank’s funds availability policy is designed to provide you with timely access to your deposited funds.

Deposit Date: Checks deposited and approved via Mobile Deposit by Wadena State Bank’s stated cut-off time will be considered deposited on that business day.
Funds Availability: Our standard policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit.
Immediate Availability for Certain Deposits: Funds from electronic direct deposits and cash deposits are typically available on the day we receive the deposit.

Business Days:

For the purpose of determining funds availability, every day is considered a business day, except Saturdays, Sundays, and federal holidays.
Night Depository and Mail Deposits: Deposits made to a night depository are considered made when the depository is emptied, and mail deposits are considered made on the day we receive your deposit.

Potential Delays in Funds Availability:

In some instances, Wadena State Bank may need to place a longer hold on funds deposited via check. This may occur under the following circumstances:

Doubt About Collectability: If we have reasonable doubt about the collectability of the check item.
Inconsistent Information: If some information on the check is inconsistent with other information on the check.
Notice of Return: If we have received notice that the check is being returned unpaid.
Information from Paying Bank: If information from the paying bank suggests that the check may not be paid.
Repeated Overdrafts: If you have repeatedly overdrawn your account(s) within the last six months.

In cases of delayed availability, Wadena State Bank will notify you of the delay and inform you when the funds will be available, generally no later than the 5th business day after the day of your deposit.

11. Disposal of Checks After Mobile Deposit

Proper handling of the original paper check after mobile deposit is essential for security and compliance.

Retention Period: You are required to securely retain the physical check that was deposited for a period of two (2) weeks from the date of deposit.
No Re-Presentment: You agree never to re-deposit or re-present the original paper check through any means once it has been deposited via Mobile Deposit.
Check Handling and Provision: During the two-week retention period, you agree to handle the check responsibly and, upon request from Wadena State Bank, promptly provide the original check to the bank.

12. Mobile Deposit Limits

Wadena State Bank implements deposit limits to manage risk and ensure service stability.

Deposit Limits: Wadena State Bank reserves the right to establish and modify limits on the dollar amount and/or the number of items or deposits you can make through Mobile Deposit from time to time.
Current Daily Limit: The current daily dollar limit for Mobile Deposit is $2,500 per business day.
Rejection of Excess Deposits: If you attempt to deposit an amount exceeding these limits, Wadena State Bank may reject your deposit.
No Obligation to Exceed Limits: If Wadena State Bank, on occasion, permits a deposit exceeding these limits, it does not create an obligation to allow such exceptions in the future. All deposits, even if exceeding standard limits, remain subject to the terms of this Agreement.

13. Presentment of Items

The method by which deposited items are cleared and presented for payment is managed by Wadena State Bank.

Bank’s Discretion: The manner in which items are cleared, presented for payment, and collected is at Wadena State Bank’s sole discretion, subject to the agreements governing your account.

14. Reporting Errors in Mobile Deposits

Promptly reporting any errors in your mobile deposits is crucial for resolution.

Notification of Suspected Errors: You agree to notify Wadena State Bank immediately of any suspected errors related to items deposited through the Mobile Deposit Service.
Notification Deadline: In no event should notification be made later than 60 days after the relevant Wadena State Bank account statement is sent.
Statement Accuracy: Unless you notify Wadena State Bank of any errors within this 60-day period, the statement regarding all deposits made through the Service will be considered correct.
Claim Prohibition After Deadline: Failure to notify Wadena State Bank within 60 days prohibits you from bringing any claim against the bank for the alleged error related to mobile deposits.

15. Errors in Transmission

Using technology involves inherent risks, and understanding the risks associated with transmission errors is important.

Risk Acceptance: By using the Mobile Deposit Service, you acknowledge and accept the risk that a check item or associated information may be intercepted or misdirected during the transmission process.
No Liability for Interception or Misdirection: Wadena State Bank bears no liability to you or any third party for any intercepted or misdirected items or information, or for any losses resulting from such transmission errors.

16. Image Quality Standards

The quality of check images is critical for successful mobile deposit processing.

Legible Images Required: The image of each check item transmitted to Wadena State Bank using the Mobile Deposit Service must be legible, as determined solely by Wadena State Bank.
Compliance with Standards: Image quality must comply with standards established by Wadena State Bank, the American National Standards Institute, the Board of Governors of the Federal Reserve Board, or any other relevant regulatory agency, clearinghouse, or association.
No Liability for Poor Image Quality: You agree that Wadena State Bank is not liable for any damages resulting from poor image quality of a check item. This includes issues related to rejection of the item, delays in crediting, improper crediting, or any inaccuracies due to poor image quality or inaccurate information you provide about the check.

17. User Warranties and Indemnification

As a user of Wadena State Bank Mobile Deposit, you provide certain warranties to the bank.

Warranties to Wadena State Bank: You warrant the following to Wadena State Bank:
- Eligible Items Only: You will only transmit eligible check items as defined in this agreement.
- No Duplicates: You will not transmit duplicate images of the same item.
- No Re-deposit of Originals: You will not re-deposit or re-present the original paper check after mobile deposit.
- Accurate Information: All information you provide to Wadena State Bank is accurate and true.
- Compliance with Agreement and Laws: You will comply with this Mobile Deposit Service Agreement and all applicable rules, laws, and regulations.
- No Knowledge of Impaired Collectability: You are not aware of any factor that may impair the collectability of the check item being deposited.
Indemnification: You agree to indemnify and hold harmless Wadena State Bank from any loss or liability arising from any breach of these warranty provisions.

18. Cooperation with Investigations

Cooperation is expected in the event of investigations related to mobile deposits.

Agreement to Cooperate: You agree to fully cooperate with Wadena State Bank in the investigation of any unusual transactions, instances of poor transmission quality, or the resolution of customer claims related to Mobile Deposit.
Provision of Originals and Records: This cooperation includes providing, upon request and without further cost, any original paper checks or copies of items deposited through the Service that are in your possession, as well as any records relating to such items and transmissions.

19. Termination of Mobile Deposit Service

Wadena State Bank reserves the right to terminate the Mobile Deposit Service under certain conditions.

Termination Right: Wadena State Bank may terminate this Mobile Deposit Service Agreement at any time, for any reason, and without prior notice to you.
Agreement Remains in Effect Until Termination: This Agreement remains in full force and effect until it is officially terminated by Wadena State Bank.
Reasons for Termination: Reasons for termination may include, but are not limited to:
- Breach of any term of this Agreement.
- Use of the Service for unauthorized or illegal purposes.
- Use of the Service in a manner inconsistent with your account agreement or any other agreement with Wadena State Bank.

20. Enforceability of Agreement

This agreement is legally binding and enforceable.

Waiver of Enforcement: Wadena State Bank may choose to waive enforcement of any provision of this Agreement. However, any such waiver does not constitute a waiver of any prior or subsequent breach of the Agreement.
No Effect on Other Rights: A waiver in one instance does not affect Wadena State Bank’s rights concerning any other transaction, nor does it imply a modification of the terms of this Agreement.
Severability: If any provision of this Agreement is deemed invalid, illegal, or unenforceable to any extent, the remainder of the Agreement remains valid, unimpaired, and enforceable to the fullest extent permitted by law.

21. Ownership and License

Wadena State Bank retains all rights to the Mobile Deposit Service technology.

Bank Ownership: You acknowledge and agree that Wadena State Bank retains all ownership and proprietary rights in the Mobile Deposit Service, including all associated content, technology, and website elements.
Conditional Use: Your use of the Mobile Deposit Service is conditional upon your complete compliance with this Agreement.
Breach Leads to Termination: Any breach of this Agreement immediately terminates your right to use the Service.
Prohibited Uses: You are specifically prohibited from using the Service:
- In any anti-competitive manner.
- For any purpose that is contrary to Wadena State Bank’s business interests.
- In any way that causes actual or potential economic disadvantage to Wadena State Bank.
Permitted Use: You may only use the Service strictly in accordance with this Agreement.
No Reverse Engineering: You are prohibited from copying, reproducing, distributing, or creating derivative works from the content of the Service, and you agree not to reverse engineer or reverse compile any of the technology used to provide the Service.

22. Changes to the Mobile Deposit Service

Wadena State Bank may modify the Mobile Deposit Service to improve and update it.

Right to Modify Service: Wadena State Bank reserves the right to terminate, modify, add to, and remove features from the Mobile Deposit Service at any time, at our sole discretion.
Acceptance of Changes: You have the option to reject changes by discontinuing your use of the Service. Your continued use of the Service after changes are implemented will be considered your acceptance of and agreement to such changes.
Service Maintenance: Maintenance may be performed on the Service from time to time, which may result in service interruptions, delays, or errors. Wadena State Bank shall not be liable for any such interruptions, delays, or errors.
Maintenance Notice: While Wadena State Bank may attempt to provide prior notice of scheduled maintenance, we cannot guarantee that such notice will always be provided.

23. Disclaimer of Warranties

Wadena State Bank provides the Mobile Deposit Service on an “as is” basis.

“As Is” Service: YOU EXPRESSLY AGREE THAT YOUR USE OF THE MOBILE DEPOSIT SERVICE AND ALL INFORMATION AND CONTENT (INCLUDING THIRD-PARTY CONTENT) IS AT YOUR OWN RISK. THE SERVICE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS.
Disclaimer of Warranties: Wadena State Bank disclaims all warranties of any kind regarding the use of the Service, whether express or implied. This includes, but is not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
No Warranty of Uninterrupted Service: Wadena State Bank makes no warranty that the Service:
- Will meet your requirements.
- Will be uninterrupted, timely, secure, or error-free.
- Will provide results that are accurate or reliable.
- That any errors in the Service or its technology will be corrected.

By understanding these terms and conditions, you can confidently utilize Wadena State Bank’s Mobile Deposit Service for your banking needs. Enjoy the convenience and flexibility of banking on the go with Wadena State Bank.