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Terms of Enrollment into and Use of MUCFCU Mobile Deposit Service

Enrollment

You are required to apply for enrollment into Miami University and Community Federal Credit Union’s “Miami CU Mobile Deposit” service. In order to be accepted as a user of the Mobile Deposit service, you must be a member of Miami University and Community Federal Credit Union (MUCFCU), meeting all of the following conditions:

• You must have been a member in good standing for, at a minimum, the past six months.
   
• You must meet minimum ChexSystems requirements for holding a standard Checking (Share Draft) account at MUCFCU.
   
• You must possess a credit score, provided by the major credit bureaus (Equifax, Experian, and TransUnion) of 700 or greater.
   
• You must have a history of minimal overdrafts in your MUCFCU account(s). If you have had any overdrafts in the past, you must be able to explain the reason for the overdrafts, and they must have been repaid within a reasonable amount of time.
   
• Upon review of your account(s) and at the discretion of MUCFCU staff, there must be no reason for MUCFCU staff to suspect that your use of Mobile Deposit will significantly increase the risk of fraud or related loss to MUCFCU.

You will be notified by email whether or not you have been accepted as a Mobile Deposit user. If you do not receive notification within 2 business days, contact MUCFCU.

Conditions for enrollment may be reviewed periodically by MUCFCU staff and are subject to change without notice.

     
Use of Service

All items submitted for deposit via the Mobile Deposit service are subject to review. In general, deposits submitted using the service must meet the following conditions:

• Deposits must fall within posted transaction limits:
  • Maximum dollar amount per day:  $2,000
  • Maximum dollar amount per item (i.e., per check):  $2,000
  • Maximum dollar amount per 30 day period:  $5,000
     
• Items presented for deposit must be signed by the payer, or legally recognized representative for the payer, on the front of the item.
   
• Items must be endorsed by the payee on the back. (This includes the signatures of all "Pay to the Order of" parties and writing "For Mobile Deposit" on the back of the check.)
   
• Items must be submitted for deposit according to the instructions found within the Mobile Deposit app.
   
• At the discretion of MUCFCU staff, there must be no reason to suspect that the item(s) presented for deposit is (are) fraudulent or presents a risk of fraud-related loss to MUCFCU.

Items submitted for deposit via the Mobile Deposit service are batch posted and may not be available immediately. MUCFCU reserves the right to accept or reject any deposit submitted via the Mobile Deposit service. You can view whether or not your deposit has been accepted, by opening the Mobile Deposit app and tapping the Review button. If your deposit is not available for review within 1 business day, contact MUCFCU.

Conditions for deposits via the Mobile Deposit service may be reviewed periodically by MUCFCU staff and are subject to change without notice.