Terms and Conditions

Return Services

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THE SERVICE

Check Return Service provides Customer the ability to manage check returns, expediting the collection process and increasing the likelihood of recovering payments.  Bank offers the following return services which Customer can select by completing the corresponding section of applicable Operational Instructions:

Alternate Address and Advice Option.  Returns will be mailed to the indicated address along with a standard advice or a cash letter advice, whichever is indicated.  An advice (“Advice”) is the paper notice a Customer receives regarding return items.

Extra Advice Copy Options.  Extra copies of Advices can be mailed and/or faxed to additional locations as noted in applicable Operational Instructions.  Images of returns will be included if indicated.

Notification Instructions.  Bank will fax images of returns that meet the dollar threshold indicated by Customer each Business Day.  Notification can be sent immediately, hourly, or at end of day as defined in applicable Operational Instructions.

Redeposit Instructions.  Bank will redeposit items returned for non-sufficient funds pursuant to Customer specification as indicated in applicable Operational Instructions.

Image Options.  If Customer selects Extra Advice Copy Options with image or Notification Instructions, Bank will fax images of the front and/or back of return item and/or re-deposit, as indicated by Customer in applicable Operational Instructions.

Additional Data Options.  Customer can receive a data file of return check information, a payor file (via the File Delivery channel).  Customer can choose from multiple return item data options as indicated in applicable Operational Instructions to be included in the file. The transmission schedule for File Delivery is represented in applicable Operational Instructions.

Online Return Item Viewing.  Customer can view online images of same and previous-day returned checks.

Consolidated Returns. The service consolidates the processing and reporting of the Customer’s paper return items by ensuring that all such items are directed, through the use of specialized endorsement, to Bank instead of the bank of first deposit.