Online Deposits

What is Online Deposits?
Online Deposits puts ultimate convenience at your fingertips by allowing you to submit check deposits online 24/7 and giving you instant access to those funds! No more waiting to get to a Branch. No more waiting for checks to clear. No more waiting – period! 

How does Online Deposits work?
Just make your deposit online and be sure we receive your checks via mail within ten (10) business days of your online transaction. We’ll credit your account immediately, so the funds will be available for you to pay your bills online, write checks, withdraw as cash, or transfer to other accounts the moment you complete your deposit. Plus, postage-paid Online Deposits envelopes are available to save you the cost of a stamp and help ensure that we receive your checks on time. 

How much can I deposit?
The maximum Available Deposit Amount for Online Deposits varies by member and is determined by length of relationship, creditworthiness and other relationship factors. At any given time, you are able to deposit this amount minus any pending Online Deposits. You will see your Available Deposit Amount when you access the service online. As we receive and process your checks toward pending deposits, your Available Deposit Amount will replenish itself. 

How many checks am I able to deposit at one time?
You may submit up to 10 checks per deposit, provided their total does not exceed your Available Deposit Amount. There is no limit to the number of deposits you can make, again, provided you do not exceed your Available Deposit Amount. 

How many days do I have to submit my checks after I complete my deposit online?
We must receive your checks within ten (10) business days of the online transaction date. 

How do I access Online Deposits?
Access is easy! Once you have enrolled - just log in to Virtual Branch and look for the Online Deposits tab on the left side panel under BankIT. 

Is Online Deposits available to all members?
Some members may not qualify to use Online Deposits. For instance, Eligibility may vary from day to day. 

What do I need in order to use Online Deposits?
You will need a valid e-mail address, which will be confirmed when you register. You will also need to have Adobe Reader installed on your computer and be connected to a printer. Once you complete your submission online, a Deposit Receipt will be generated automatically. It is required that you print this receipt and mail it to us along with your checks. 

Will I be able to use Online Deposits immediately upon registering?
No. You must be approved. You will be notified once you are approved.

Where do I get postage-paid Online Deposits envelopes?
A starter supply of envelopes will be sent to you automatically when you register. Please contact the Credit Union or pick some up at any
M-C FCU Branch.

Can I use the service if I don’t have an Online Deposits envelope?
It is highly recommended that you use our postage-paid envelopes to ensure that your checks are received on time and processed properly. However, if you need to send checks and do not have an Online Deposits envelope, please address your envelope exactly as follows:

M-C FEDERAL CREDIT UNION
PO Box 381
Bloomsburg, PA 17815-9921

Which of my accounts will accept Online Deposits?

· Share Savings accounts, including Money Market and Club/All Purpose accounts

· Share Draft Checking accounts

· Loan / Mortgage Payment accounts

How many accounts (suffixes) can I deposit to at one time?
You may only deposit funds to one account (suffix) at a time. 

What happens to my account if the Credit Union does not receive my checks on time?
Your account will be debited the amount of the deposit and a late fee will be charged. Refer to the Fee Schedule for current fee amounts. This adjustment will also count as an infraction.

What is an adjustment?
An adjustment is a correction or reversal made to your account when the checks received by the Credit Union do not match what was entered into Online Deposits, and/or the checks are late or are never received. If an adjustment is required, your account will be charged a fee. Refer to the Fee Schedule for current fee amounts.

The following examples would require an adjustment to your account:

· You forget to include the check(s) in your envelope

· The check amount does not match the amount on your Deposit Receipt

· You send us extra checks or not enough checks

· Check received is drawn on a foreign institution

Note: Adjustments to your account will incur an Online Deposits infraction. 

What is an infraction?
An infraction is a penalty imposed for incorrect or inappropriate usage of Online Deposits that necessitates an account adjustment and/or delays the processing of your deposit. In addition to the above adjustment examples, infractions may also be incurred for:

· Failing to submit your Online Deposits Receipt with your checks

· Failing to address your envelope properly when a pre-printed Online Deposits envelope is not used

How many infractions am I allowed before I am no longer able to use Online Deposits?
If you accumulate three (3) infractions, you will no longer be eligible for Online Deposits and the service will be removed from your Account Access options. The Credit Union also reserves the right to restrict you from using Online Deposits at any time due to misuse of the service.

Will I receive notification if I incur an infraction?
You will receive an e-mail notification if an adjustment is made to your account. The e-mail will refer you to Online Banking to review your account for the adjustment information. 

Can I submit my checks at a Branch, ATM or night deposit to ensure that my deposit is received within ten business days?
Online Deposits must be processed by the appropriate department at our branch office, and should be mailed as instructed. Attempting to deposit checks toward your online deposit via Branch, ATM or night deposit will most likely result in one or more adjustments to your account, infractions and subsequent fees. 

Can I deposit third-party checks via Online Deposits?
No, it is our policy that we no longer accept third party checks.

Will Online Deposits accept stale-dated or post-dated checks?
No. The check entry system will verify check dates. If a date is more than six (6) months old or beyond the current date, an error message will appear and you will be required to edit the information or delete the check entry. 

If I have two checks from two different makers that happen to have the same check number and the same dollar amount, will the Online Deposits system reject the entries?
No. The system will accept both checks without generating an error. 

What do the different Online Deposits statuses mean?

· PENDING – Your deposit has been accepted and the credit has been posted to your account. We have not yet received your checks.

· REVERSED – The deposit amount has been reversed from your account because your checks were not received within the ten (10) business day limit.

· RECONCILED – Your checks were received and an adjustment to your account was required. This adjustment means you have incurred an Online Deposits infraction and a fee has been charged to your account.

· RECEIVED – Your checks were received on time and your online transaction was accurate, requiring no adjustments.

Once I sign up for Online Deposits, do I have to use it?
No. Online Deposits is an extension of our Online Convenience Services developed to make it easier than ever to manage your Credit Union accounts. You are not required to use it and there are no dormant fees. 

Can I opt out from Online Deposits?
No. There is no opt-out option for Online Deposits. However, you are not required to use the service, even if you register.