Effective October 1, 2015
These Terms of Service contain the rules which govern your service relationship with eDeposit, also known as “Company”, "we" or "us". Unless it would be inconsistent to do so, words and phrases used in this agreement should be construed so that the singular includes the plural and the plural includes the singular. In this Agreement, "you" or "your" means each and any person, including any person (s) acting on behalf of a business, that use the eDeposit service to obtain a Financial Service. "Financial Service" means a transaction, deposit account, funds transfer service or any other product or service available through eDeposit.
Terms of Service for Your eDeposit Account
Consent to Terms of Service
By submitting an application through the eDeposit website, activating or using any service provided by eDeposit, collectively or singularly a "Financial Service", you agree to the terms of this account and the Schedule of Fees that may be imposed. Continued use of your account with eDeposit means you agree to these rules, to pay the fees as published, and for eDeposit to collect the fees, as earned, directly from your account.
In addition, by establishing an account with eDeposit you accept and agree to the current terms and conditions of and all future amendments to this disclosure and all other account disclosures provided to you. Disclosures may be provided electronically via email or may be updated on our website.
Account Establishment
To become an “Account Owner” you must establish an account with eDeposit. eDeposit accounts are created by supplying all required information via the online account application (this information is collectively referred to as the "Registration Data") completely and truthfully.
In some cases, an eDeposit account may be opened for you on your behalf. Your activation of that account requires certification by you of the information on the account. eDeposit may require you to confirm personal account information and/or provide additional information to activate the account.
eDeposit reserves the right to decline any application for any reason or if we determine that any of the Registration Data is false, incomplete or inaccurate. In addition, eDeposit reserves the right to terminate your right to use our Financial Services for these reasons.
If you are applying as an individual, you expressly represent and warrant that you have the capacity under applicable law to enter into a legally binding contract; for example, if you are a minor, you may only use eDeposit's Services in conjunction with your parent(s) or guardian(s). If you are applying as a business, you expressly represent and warrant that you have been duly authorized by your company, partnership, or other legal entity to enter into agreements on behalf of that entity.
Authorization to Hold Funds and Recordkeeping
By becoming an Account Owner, you authorize eDeposit to maintain possession of all funds deposited, including any additions to those funds (together the "Deposited Amounts"), and to deliver and dispose of the Deposited Amounts according to the terms and conditions of these Terms of Service.
eDeposit will acknowledge receipt of all Deposited Amounts by posting the amount and the date of receipt for your view within your account on the eDeposit website. At your request, eDeposit can also provide email notification whenever funds are delivered to you, held for benefit of any counter party or transferred to another party based upon your instructions. You hereby irrevocably appoint eDeposit, with full power of substitution, as your true and lawful agent and attorney in fact with full power and authority in your name, place and stead to manage, transfer and otherwise act with respect to all funds in your account that you place on hold for the benefit of any counter party, including without limitation to allow eDeposit sole and absolute discretion to maintain the funds in your account, maintain a hold of the funds in your account, transfer the funds to the designated counter party, or return the funds to you. Transaction information displayed on your account within the eDeposit website, as well as email notices, if any, shall be conclusive proof of the delivery and receipt of funds, absent manifest error. Upon your request, eDeposit will also provide confirmation to any third party that it is holding Deposited Amounts on your behalf.
You acknowledge that eDeposit is not an FDIC-insured institution, but that eDeposit shall maintain all Deposited Amounts in accounts at one or more FDIC-insured financial institutions.
Deposited Amounts that are held at any financial institution used by eDeposit will be provided FDIC pass-through insurance, to the extent provided by the financial institution holding the funds and by the FDIC.
Availability and Return of Funds
Deposited Funds will become available to be used for eDeposit’s Financial Services after certain time periods specified by eDeposit and in accordance with banking, credit and debit card processing rules and procedures. eDeposit will provide estimated time frames deposited funds will become available by deposit instrument type on our web site and on your account information pages.
Deposited Amounts, once available, remain available to you until designated as funds held on behalf of another party, are transferred to a payee at your direction or are withdrawn from the eDeposit account. You will be required to participate in any transaction that occurs in your account by either initiating the transaction or accepting the transaction initiated by another party.
You may request the withdrawal of any portion of your available balance that is not on hold or pending as a payment, less applicable fees. eDeposit will effect such return via electronic funds transfer to an external depository account that has been verified as an authorized eDeposit funding source. If no external depository account has been established for the eDeposit account owner, eDeposit will mail a check or other value bearing instrument to the eDeposit account owner’s address of record. If eDeposit suspects, detects or is notified of potential fraud, eDeposit may hold your funds until the absence of fraud has been confirmed.
Upon your notification to eDeposit or at eDeposit's discretion your eDeposit account may be closed. Closing your account immediately cancels your access to all of eDeposit’s Financial Services. Upon closure, eDeposit shall return to you all funds as they become available and/or are released from counterparty hold obligations. All applicable fees and charges will be deducted prior to funds being distributed as per these Terms of Service. You waive advance notice of discontinuing access to the Financial Services under Maryland Code, Commercial Law Section 22-814.
User Fees; Transaction Authorization
You agree to be responsible for timely payment of all fees and charges as defined in the current eDeposit Fee Schedule incurred in connection with use of eDeposit's Services. At eDeposit’s sole discretion, all applicable fees will either be deducted from your eDeposit account or charged to the credit card registered with eDeposit. eDeposit may change its fees and charges at any time.
You agree that by requesting eDeposit to move funds from one or more of your designated, verified funding sources established as part of the eDeposit Financial Service, the movement of the funds is irrevocable. Additionally, by initiating transactions to other participants of the eDeposit service through the eDeposit service you agree that all transactions are confirmed to be designated as available funds, designated specifically for the benefit of the receiving party and intended for financial settlement of an external agreement between you and your counterparty. eDeposit is not a party to the agreement between you and any third party nor does eDeposit warrant the merchantability of the product or service to be provided by either party to the other.
You agree not to attempt to disavow any transaction initiated by you or authorized by you via the eDeposit service. All transactions initiated by you in connection with the eDeposit Financial Services are final in settlement and may not be reversed through third party processes, whether through funding sources established by you (credit card, debit card, electronic transfer from bank accounts, etc.) or contributions made by physical media (cash, checks, etc.). Notwithstanding the foregoing, should the eDeposit account or funding sources be established through fraudulent methods or means, eDeposit and the affected parties will work in cooperation to effectively correct the fraudulent transaction.
You agree that transactions initiated and/or authorized by you via credit card, debit card and/or ACH to fund your eDeposit account are transfers from an account or accounts owned by you (or you possess owner authorization to use) to another account owned by you or that you possess owner authorization to use. You represent and warrant those transactions are for the purposes of moving funds from one or more sources owned and/or controlled by you to your account at eDeposit which is also owned and/or controlled by you. You will assist eDeposit and defend eDeposit from challenges to the veracity of those transactions and participate in and be wholly responsible for the defense of those transactions including costs to defend any claims with respect to the transfer of funds between accounts controlled by you.
If your account is terminated or suspended for insufficient funds or non-payment, you agree to be responsible for collection costs incurred by eDeposit to obtain payment including but not limited to administrative and attorneys’ fees as applicable.
Dispute Resolution
eDeposit represents and warrants the Financial Services provided by eDeposit only. eDeposit makes no representation as to the credibility, quality or merchantability of the goods and services provided by participants in the eDeposit system. You agree to excuse eDeposit from participation in any dispute resolution relating to goods or services not provided by eDeposit. To the extent that disputed funds are retained in an eDeposit account, upon official notification by a bonded third party, eDeposit may remove funds from your eDeposit account to comply with such official notification. You agree to indemnify eDeposit of any liability related to products or services not provided by eDeposit.
Banking Services
All Deposits will be held at Wells Fargo Bank, N.A., or other federally or United States state-chartered financial institution, each members of the Federal Deposit Insurance Corporation (the "FDIC"). For purposes of applicable FDIC-Deposit Insurance limitations, deposits in accounts opened through eDeposit or any affiliated Bank or Bank website, are not separately insured from any other deposit accounts you may have opened with financial institutions used by eDeposit.
Internet Enabled Accounts
You certify that you have access to the Internet and a current email address. You have sole responsibility for providing eDeposit with a correct and operational email address. You must promptly notify eDeposit of any change in your email or postal mailing address, or if you are unable to access your account information through the Internet, when applicable to your Financial Services. If you do not promptly notify eDeposit, we will not be held liable for any adverse effects to your account as a result of undelivered mail or email or due to the inability to access your account information over the Internet. eDeposit is not responsible for any costs that you incur for maintaining Internet access and an email account.
Electronic Communications
To the fullest extent permitted by law, these Terms of Service and any other agreements, notices or other Communications regarding the eDeposit website or any Financial Service ("Communication" or "Communications") may be provided to you electronically and you agree to receive Communications in an electronic form. Electronic Communications may be posted on the pages within eDeposit’s website and/or delivered to your email address. You may print a paper copy of any Electronic Communication and retain it for your records. All Communications in either electronic or paper format will be considered to be "in writing," and to have been received no later than five (5) business days after posting or dissemination, whether or not you have received or retrieved the Communication. eDeposit reserves the right to provide Communications in paper format.
Your consent to receive Communications electronically is valid until you revoke your consent by notifying eDeposit of your decision to do so. If you revoke your consent to receive Communications electronically, eDeposit may terminate your right to use the eDeposit website or obtain Financial Services through eDeposit.
Privacy
You have had an opportunity to review, download or print, and you agree to the Privacy Policy relating to the eDeposit website and the Financial Services provided.
Illegal, Fraudulent or Improper Activity
You will not use the eDeposit website or any Financial Service for any illegal, fraudulent or improper activity. If eDeposit suspects that you may be engaging in or have engaged in a fraudulent, illegal or improper activity, including a violation of any terms and conditions relating to eDeposit website or any Financial Service, your access to eDeposit website and any Financial Services may be suspended or terminated. You understand that transactions in your eDeposit accounts may be suspended or terminated if an access device has been reported lost or stolen or when eDeposit reasonably believes that there is unusual activity on any of your Accounts. You will cooperate fully with eDeposit to investigate any suspected illegal, fraudulent or improper activity.
Password Protection
You will not disclose your password to access eDeposit’s website to any person other than persons you intend to have full authority to act on your behalf with regard to all of your Financial Services and accounts. eDeposit may act upon instructions and information received from any person that enters your user name and password. You will notify eDeposit immediately if your password is compromised or lost.
Consumer Liability
Personal Accounts
If you believe there may be an error on your eDeposit account and specifically, you believe that:
You may notify eDeposit by phone during business hours, voice mail, email, fax, US mail, and via the Contact Us feature of our corporate website.
You are required to notify eDeposit of an unauthorized transaction that appears on your eDeposit account statement within 60 days of when the periodic statement was sent that first reflects the alleged error. When you provide eDeposit with notice that you are disputing an error on your account, eDeposit will investigate the claim and if deemed unauthorized, you will not be held liable. If the transaction is deemed to be authorized by you, then you are liable. If you fail to notify eDeposit of the suspected unauthorized transaction within the 60 day timeframe, eDeposit will hold you liable for all unauthorized transfers that occurred beyond the 60 day period.
It is eDeposit’s policy to require written confirmation from you of a disputed transaction. If however, a verbal notice is received, eDeposit will promptly begin an investigation, and will require you to provide written confirmation within 10 days of the verbal notice in order to issue proper provisional credit. Provisional credit will not be granted if required written confirmation is not received by the 10th day following the verbal notice. eDeposit will promptly conduct investigations into reported errors and determine resolution within 10 business days of receiving any notice of an error. If the investigation is not completed within the 10 day timeframe, eDeposit may take up to 45 calendar days. However, when the additional time is needed, and if you have provided written confirmation within 10 business days as requested, provisional credit will be provided to you in the amount of the alleged error by the 10th business day of having received the notice of an error, regardless of whether the notice was verbal or written. If the error involves a new account (that is, the disputed transaction occurred within 30 calendar days after the first deposit into your eDeposit account), eDeposit may extend the timeframes stated above to 20 business days for resolution and provisional credit and up to 90 calendar days for final resolution. Upon completion of the investigation, any errors will be corrected within one business day. In addition, you will be notified within 3 business days of the final resolution that a final resolution was found and the details/outcome of the investigation. Specifically, you will receive notice in writing via email of whether the provisional credit will become permanent, in the case that the disputed transaction was in fact unauthorized, or that the provisional credit will be reversed, in the case that the disputed transaction was in fact authorized. You are able to request copies of documents that eDeposit used in our investigation, and eDeposit will provide a copy to them within 5 business days of your request for those documents.
Business/Corporate Accounts
If you have a business account with eDeposit and you identify that there may be an error on your eDeposit account and specifically, it is believed that:
You may notify eDeposit by phone during business hours, voice mail, email, fax, US mail, and via the Contact Us feature of our corporate website.
The business is required to notify eDeposit of an unauthorized transaction that appears on their eDeposit account statement within twenty four (24) hours of the time the transaction posts to your account. When you provide eDeposit with notice that you are disputing an error on your account, eDeposit will investigate the claim and if deemed unauthorized, the business will not be held liable. If the transaction is deemed to be authorized by the business, then the business is liable. If the business fails to notify eDeposit of the suspected unauthorized transaction within the required timeframe, eDeposit will hold the business liable for all unauthorized transfers that occurred beyond the 24 hour time period.
It is eDeposit’s policy to require businesses to submit written confirmation of a disputed transaction. We require that all business accounts submit all unauthorized activity on an Affidavit of Unauthorized ACH. eDeposit will promptly conduct investigations into reported errors and determine resolution. Upon completion of the investigation, any errors will be corrected within one business day. In addition, the business will be notified within 3 business days of the final resolution that a final resolution was found and the details/outcome of the investigation. The business is able to request copies of documents that eDeposit used in our investigation, and eDeposit will provide a copy to them within 5 business days of their request for those documents.
(a) Contact in event of unauthorized transfer.If you believe your credentials have been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission, call: 1-888-269-1629 or write: eDeposit Security, 1011Centre Road, Suite 300, Wilmington, DE 19805 or [email protected]
You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your account without your permission.
(b) Business days. For purposes of these disclosures, our business days are (Monday through Friday). Holidays are not included.
(c) Periodic Statements. You will be sent a monthly email notification at the end of each month unless there are no transfers in a particular month, in which case you will be sent the notification at least quarterly. The notification will contain a link to the screen that will allow you to pull a statement of your previous month’s transactions.
(d) Consumer Fees. You will be responsible for the following fees that will be charged at the time of the event:
Adding money to your eDeposit account:
ACH Deposit Fee No Charge
Card Deposit Fee 4.5% of $ added
Check Deposit Fee $10
Wire Deposit Fee $35
Withdrawing Money from your eDeposit account:
ACH Withdrawal Fee No Charge
Check Withdrawal Fee $15
Wire Withdrawal Fee $55
Additional fees for unpaid items:
ACH Return Fee $35
NSF Check Fee $35
Limit on Liability
The Financial Services accessible through eDeposit’s website are provided "as is" and with all faults, and eDeposit hereby disclaims, for themselves and for each other entity involved in the provision of the Financial Services, all warranties, either express or implied or statutory, including, but not limited to, any implied warranties of merchantability, of fitness for a particular purpose and of lack of viruses. In no event shall eDeposit be liable (a) for damages caused other than by its own gross negligence or intentional misconduct or (b) for indirect, special, incidental, consequential or punitive damages whatsoever (including, but not limited to, damages for lost profits, disclosure of confidential information, or loss of privacy), arising out of or in any way related to the use of or inability to use eDeposit website or any Financial Service, even if eDeposit has been advised of the possibility of such damages. In no event shall eDeposit be liable for any act or omission of any third party (such as, for example, any provider of telecommunications services, Internet access or computer equipment or software) or any circumstances beyond our control (such as, for example, a fire, flood or other natural disaster, act of God, war, riot, strike, act of civil or military authority, equipment failure, computer virus, or failure or interruption of electrical, telecommunications or other utility services).
Miscellaneous
Any waiver by eDeposit must be approved in writing by an authorized representative of eDeposit. If a waiver is approved by eDeposit, we are not obligated to provide similar waivers in the future. These eDeposit Terms of Service are binding upon and shall insure to the benefit of permitted successors, assignees, and designees of you and eDeposit. If any provision of the eDeposit Terms of Service is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired and remain in full force.
Contacting eDeposit
You may contact eDeposit by email at [email protected] , by first-class U.S. mail to: eDeposit Customer Care, 1011 Centre Road, Suite 300, Wilmington, DE 19805, or by toll-free telephone at 888-269-1629. Telephone conversations with representatives of eDeposit may be recorded and retained.
Modifications
At our discretion, eDeposit reserves the right to amend these Terms of Service at any time, make modifications and additions to eDeposit Website and Financial Services provided by eDeposit to the extent permitted by law.
Anytime that the terms, conditions, and charges associated with your account are not acceptable to you, you may terminate this contractual agreement by closing your account after paying any fees, penalties, or charges owed to eDeposit.
Transfer
You may not transfer any rights or obligations you may have under this Website Agreement, or with respect to any Financial Service, without prior written consent of eDeposit. eDeposit reserves the right to transfer any right or obligation under this website Agreement or with respect to any Financial Service without your consent.
Governing Law
These Terms of Service is accepted by eDeposit in the State of Maryland and is governed by Maryland law between you and eDeposit. Any claim or dispute you may have against eDeposit must be resolved by a court located in the State of Maryland. You submit to the personal jurisdiction of the courts located in Rockville, Maryland. Third parties with whom you transact may select a state law other than the State of Maryland to govern matters covered by their specific agreements and the enforcement of these Terms of Service with respect to the Financial Services they provide.
In addition to the terms and conditions set forth, your relationship with eDeposit is subject to the Rules and Regulations of the "FDIC", and to the Laws of the State of Maryland and the United States of America and to any other regulatory bodies, as they may be deemed.
