The Service will enable you by using the Internet to enter EFT information and to approve and release it to Bank for transmission of Entries in accordance with the Rules (as defined above). Bank may reject any Entry created therefrom which does not comply with the requirements in this EFT Agreement or the Rules or with respect to which the account does not contain sufficient funds to pay for the Entry. Bank may reject an Entry created therefrom received for credit to an account maintained at Bank (an “on-us entry”) for any reason for which an Entry may be returned under the Rules. If any Entry is rejected, Bank will make a reasonable effort to notify you promptly so that you may correct the Entry and resubmit it. A notice of rejection will be effective when given. Bank will have no liability to you by reason of the rejection of any Entry, the fact that notice is not given at an earlier time than that provided for in this EFT Agreement or for any loss resulting from Bank’s failure to provide notice. If you request that Bank repair an Entry on your behalf, Bank will not be liable for any action it takes regarding the requested repair.
In addition to other indemnification and liability provisions elsewhere in the Access Agreement and this Remote Deposit Agreement, you will be liable for, hold harmless, and will indemnify Bank and its officers, directors, shareholders, employees and agents from and against all claims of any sort by third parties or others arising out of this Remote Deposit Agreement, including all losses and expenses incurred by Bank arising out of your failure to report required changes, transmission of incorrect data to Bank, or failure to maintain compliance with the Laws and Rules. Except for those losses caused directly by Bank’s failure to exercise ordinary care or to act in good faith, you agree to indemnify and hold Bank, its officers, directors, shareholders, agents, employees, and affiliates, and their respective officers, directors, agents and employees, harmless from and against any and all losses, costs, suits, damages, claims, liabilities and expenses (including reasonable attorneys’ fees) arising from or related in any way to (i) any Services performed in connection with this Remote Deposit Agreement, (ii) Bank’s action or inaction in accordance with or reliance upon any instructions or information received from any person reasonably believed by Bank to be your Authorized Agent or Authorized User, including any warranties or indemnities we provide to paying, depository, or other banks or to the drawer of an Item you deposit with us, (iii) your breach of any of your covenants, agreements, responsibilities, representations or warranties under this Remote Deposit Agreement, and/or (iv) your breach of applicable laws, rules or regulations.
Online savings accounts usually come with crazy good interest rates to help you grow your money faster (regular in-person banks can’t offer rates as high). We’re fans of CIT Bank and Discover Bank (among others) because their interest rates are often over 25 times the national average. That means the money in your savings account will grow 25 times faster than the pace it’s most likely growing at now. Really, though, you can’t go wrong with pretty much any online savings account that offers over 1.50% APY 🙂