Home » Deposit Accounts Terms and Conditions

PAYU MASTER AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $100.00 is required to open an account.

QUALIFICATIONS INFORMATION
The following qualifications, which are subject to change, within the Monthly Qualification Cycle are:

  1. receive internet or email statements,
  2. log into internet or mobile banking at least once, and
  3. twelve (12) posted and settled point-of-sale (POS) transactions within the monthly cycle.

Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. “Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle.

NON-QUALIFICATION INFORMATION
The following activities do not count toward earning account rewards: 1) ATM-processed transactions, 2) transfers between accounts, 3) debit and credit card purchases processed by merchants and received by Bank of St. Elizabeth as ATM transactions, 4) PIN-based, signature based transactions, non-retail payment transactions and purchases made with debit or credit cards not issued by Bank of St. Elizabeth.

REWARDS & RATE INFORMATION
Rewards vary by account. Depending on what reward account you open, you will receive the following rewards when you meet your account’s qualifications during a Monthly Qualification Cycle:

  • PayU Interest: Balances up to $10,000 receive an interest rate of 2.00% (APY of 2.00%); and balances over $10,000 earn 0.10% interest rate (APY 0.10%) on the portion of balance over $10,000, resulting in a range from 0.10% to 2.00% APY depending on the account’s balance.
  • PayU Cash Back: 3.00% cash back on up to a total of $300.00 PIN-based/signature-based debit card purchases that post and settle to the account during that cycle period. A maximum of $9.00 cash back may be earned per Monthly Qualification Cycle.
  • PayU Savings: (must be linked to a PayU Interest or PayU Cash Back account): Balances up to $25,000 in your PayU Savings account receive an interest rate of 0.50% (APY of 0.50%) and balances over $25,000 earn 0.10% interest rate (APY of 0.10%) on the portion of balance over $25,000, resulting in a range from 0.10% to 0.50% APY depending on the account’s balance.
  • ATM Fee Refunds: you will receive reimbursements up to $25 for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified.

These interest rates, APYs, and rewards are variable and may change after the account is opened.

At our discretion, we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

When your PayU account qualifications are not met, all balances in a PayU Interest earn an interest rate of 0.01% APY; cash back payments are not made in PayU Cash Back; all balances in a PayU Savings account earn 0.01% APY; and foreign ATM fees are not reimbursed.

COMPOUNDING AND CREDITING
Rewards and ATM fee reimbursements will be credited to the appropriate account on the last day of the current statement cycle.

Any interest on your account will be compounded and credited on a monthly basis.

When a PayU Savings account is linked to a PayU interest account, the interest earned within the linked PayU Interest account does not compound since it is automatically transferred to the PayU Savings account within one business day. The interest only then compounds in the linked PayU Savings account. Due to non-compounding, the actual interest amount transferred from the PayU Interest account to the PayU Savings account may be less than the advertised PayU Interest APY, if the advertised APY is represented without a linked PayU Savings account. If the account’s balance is less than the automatic transfer amount, the transfer will not occur as it would cause an overdraft to your PayU Interest account.

EFFECT OF CLOSING AN ACCOUNT
If you close your account before interest is credited, you may receive any accrued interest.

BALANCE COMPUTATION METHOD
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS
For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited.

ACCOUNT OWNERSHIP LIMITATIONS
Primary ownership of the account(s) is limited per one (1) social security number.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account.

Refer to the Schedule of Fees and Charges disclosure for any fees that may be charged to each account as a service such as a stop payment, wire transfer, return item (NSF) fee, etc. Any fees associated with a service may reduce earnings.

TRANSACTION LIMITATIONS
The transaction limitations only apply to the PayU Savings.

  • PayU Savings: You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone, (including data transmission) agreement order or institution or by check, draft, debit card or similar order (including POS transactions) made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail, or at an ATM are unlimited.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above are accurate as of 03/07/2022.

Your account may be changed from a PayU account without notice to a non-rewards checking and/or savings account if you are no longer eligible.

Contact one of our bank service representatives for additional information, details, restrictions, processing limitations, and enrollment instructions.

 

 

 

REGULAR CHECKING AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $100.00 is required to open an account.

REWARDS & RATE INFORMATION
Any balance receives an interest rate of 0.00% (APY 0.00%) in a Regular Checking account.

There are no rewards associated with your account.

Interest rates, APYs, and rewards, if any, are variable and may change after the account is opened.

At our discretion, we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account.

Refer to the Schedule of Fees and Charges disclosure for any fees that may be charged as a service such as a stop payment, wire transfer, return item (NSF) fee, etc.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above are accurate as of 03/07/2022.

Contact one of our bank service representatives for additional information, details, restrictions, processing limitations, and enrollment instructions.

 

 

REGULAR SAVINGS AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $0.00 is required to open an account.

REWARDS & RATE INFORMATION
All balance receives an interest rate of 0.10% (APY of 0.10%) in a Regular Savings account.

There are no rewards, except interest, associated with your account.

These interest rates, APYs, and rewards, if any, are variable and may change after the account is opened.

At our discretion, we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

COMPOUNDING AND CREDITING
Any interest on your account will be compounded and credited on a semi-annual basis.

EFFECT OF CLOSING AN ACCOUNT
If you close your account before interest is credited, you may receive any accrued interest.

BALANCE COMPUTATION METHOD
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS
For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account.

Refer to the Schedule of Fees and Charges disclosure for any fees that may be charged to each account as a service such as a stop payment, wire transfer, return item (NSF) fee, etc. Any fees associated with a service may reduce earnings.

TRANSACTION LIMITATIONS
You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone, (including data transmission) agreement order or institution or by check, draft, debit card, or similar order (including POS transactions) made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail, or at an ATM are unlimited.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above are accurate as of 03/07//2022.

Your account may be changed from a PayU account without notice to a non-rewards checking and/or savings account if you are no longer eligible.

Contact one of our bank service representatives for additional information, details, restrictions, processing limitations, and enrollment instructions.

 

 

SUPER NOW AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $2,500.00 is required to open an account.

REWARDS & RATE INFORMATION
Depending on the balance in the Super Now Account, you will receive the following interest rates:

  1. $2,500.00 – $24,999.99 receive an interest rate of 0.10% (APY of 0.10%)
  2. $24,999.99 – $49,999.99 receive an interest rate of 0.10% (APY of 0.10%)
  3. $49,999.99 – $99,999.99 receive an interest rate of 0.15% (APY of 0.15%)
  4. $100,000.00 – $99,999,999.99 receive an interest rate of 0.20% (APY of 0.20%)

There are no rewards, except interest, associated with the account.

These interest rates, APYs, and rewards, if any, are variable and may change after account is opened.

At our discretion we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

MINIMUM BALANCE REQUIREMENT
Your account requires a minimum balance of $2,500.00.  A service charge fee of $10.00 will be imposed every month if the balance in the account falls below $2,500.00 any day of the month.

COMPOUNDING AND CREDITING
Any interest on your account will be compounded and credited on a monthly basis.

EFFECT OF CLOSING AN ACCOUNT
If you close your account before interest is credited, you may receive any accrued interest.

BALANCE COMPUTATION METHOD
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS
For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account, unless minimum balance requirement is not met.

Refer to the Schedule of Fees and Charges disclosure for any fees that may be charged to each account as a service such as a stop payment, wire transfer, return item (NSF) fee, etc. Any fees associated with a service may reduce earnings.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above accurate as of 03/07//2022.

Your account may be changed from a PayU account without a notice to a non-rewards checking and/or savings account, if you are no longer eligible.

Contact one of our bank service representatives for additional information, details, restrictions, processing limitations, and enrollment instructions.

 

 

MONEY MARKET ACCOUNT AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $2,500.00 is required to open an account.

REWARDS & RATE INFORMATION
Depending on the balance in the Money Market Account, you will receive the following interest rates:

  1. $2,500.00 – $24,999.99 receive an interest rate of 0.10% (APY of 0.10%)
  2. $24,999.99 – $49,999.99 receive an interest rate of 0.20% (APY of 0.20%)
  3. $49,999.99 – $99,999.99 receive an interest rate of 0.30% (APY of 0.30%)
  4. $100,000.00 – $99,999,999.99 receive an interest rate of 0.40% (APY of 0.40%)

There are no rewards, except interest, associated with the account.

These interest rates, APYs, and rewards, if any, are variable and may change after account is opened.

At our discretion we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

COMPOUNDING AND CREDITING
Any interest on your account will be compounded and credited on a monthly basis.

EFFECT OF CLOSING AN ACCOUNT
If you close your account before interest is credited, you may receive any accrued interest.

BALANCE COMPUTATION METHOD
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS
For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account.

Refer to the Schedule of Fees and Charges disclosure for any fees that may be charged to each account as a service such as a stop payment, wire transfer, return item (NSF) fee, etc. Any fees associated with a service may reduce earnings.

TRANSACTION LIMITATIONS
You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone, (including data transmission) agreement order or institution or by check, draft, debit card or similar order (including POS transactions) made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above accurate as of 03/07//2022.

Your account may be changed from a PayU account without a notice to a non-rewards checking and/or savings account, if you are no longer eligible.

Contact one of our bank service representatives for additional information, details, restrictions, processing limitations, and enrollment instructions.

 

 

PAYU KIDS AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $5.00 is required to open an account.

QUALIFICATION INFORMATION
The following qualifications, which are subject to change, are:

  1. Primary Account Owner is 0-15 years old,
  2. Parent, Adult, or Guardian as Secondary Account Owner

NON-QUALIFICATION INFORMATION
If the Primary Account Owner is older than 15 years old, the account does not earn the specified rewards.

REWARDS & RATE INFORMATION
You will receive the following rewards when you meet your account’s qualifications.

  • PayU Kids: Account balances up to $1,000.00 receive an interest rate of 4.00% (APY of 4.04%); and balances over $1,000.00 earn 0.10% interest rate (0.10% APY).

 These interest rates, APYs, and rewards are variable and may change after account is opened.

At our discretion we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

COMPOUNDING AND CREDITING
Any interest on your account will be compounded and credit on a semi-annual basis.

EFFECT OF CLOSING AN ACCOUNT
If you close your account before interest is credited, you may receive any accrued interest.

BALANCE COMPUTATION METHOD
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS
For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited.

ACCOUNT OWNERSHIP LIMITATIONS
Primary ownership of the account is limited per one (1) social security number.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account.

TRANSACTION LIMITATIONS
You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone, (including data transmission) agreement order or institution or by check, draft, debit card or similar order (including POS transactions) made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above are accurate as of 03/07/2022.

Once the Primary Account Owner reaches 16 years old, the account automatically switches the interest rate to the regular Savings account rate. The account is also changed from PayU Kids to the Savings account product.

Contact one of our bank’s Customer Service Representatives for additional information, details, restrictions, processing limitations, or enrollment instructions.

 

 

REGULAR BUSINESS CHECKING AGREEMENT

INITIAL DEPOSIT REQUIREMENT
A minimum deposit of $100.00 is required to open an account.

REWARDS & RATE INFORMATION
Any balance receives an interest rate of 0.00% (APY 0.00%) in a Regular Business Checking account.

There are no rewards associated with your account.

Interest rates, APYs, and rewards, if any, are variable and may change after the account is opened.

At our discretion, we may change the interest rate and APY for your account for any particular balance or tier at any time.

The interest rate for your account may change daily.

FEES
There are no recurring monthly maintenance charges or fees to open or close your account.

Refer to the Schedule of Fees and Charges disclosure for any fees that may be charged as a service such as a stop payment, wire transfer, return item (NSF) fee, etc.

ADDITIONAL INFORMATION
APY = Annual Percentage Yield. APYs stated above are accurate as of 03/07/2022.

Contact one of our bank service representatives for additional information, details, restrictions, processing limitations, and enrollment instructions.

 

 

ELECTRONIC FUNDS TRANSFERS

YOUR RIGHTS AND RESPONSIBILITIES

The Electronic Funds Transfers we are we are capable of handling for consumers are indicated below, some of which may not apply to your account. Some of these may not be available at all terminals. Please read this disclosure carefully because it tells you your rights and obligations for these transactions.

TYPES OF TRANSFERS, FREQUENCY AND DOLLAR LIMITATIONS

  • Prearranged Transfers – Preauthorized credits – You may make arrangements for certain direct deposits to be accepted into your:
    • checking
    • savings
  • ATM Transfers – You may access your account(s) by ATM using your Automated Teller Machine (ATM) card and person identification number to:
    • Get cash withdrawals from checking accounts (you may withdraw no more than $500 per day)
    • Get cash withdrawals from savings accounts (you may withdraw no more than $500 per day)
    • Transfer funds from savings to checking
    • Transfer funds from checking to savings
    • Get checking account(s) information
    • Get saving account(s) information
  • Point-of-Sale Transactions – Using your card:
    • You may access your checking account
      • In person
      • By phone
      • By computer
      • Pay for services
      • Get cash from a merchant, if the merchant permits or from a participating financial institution, and do anything that a participating merchant will accept.
    • You may not exceed more than $1,500 in transactions per day
  • Computer Transfers – You may access your account(s) by computer by accessing the online banking service and using your user ID and password to:
    • Transfer funds from checking to savings
    • Transfer funds from savings to checking
    • Transfer funds from checking to checking
    • Transfer funds from savings to savings
    • Make payments from checking to loan accounts with us
    • Make payments from savings to loan payments
    • Get checking account(s) information
    • Get saving account(s) information
    • Stop payment requests
    • Online Bill payment
    • Obtain a copy of statement
    • Allow export of transaction history
  • Mobile Banking Transfers – You may access your accounts(s) by web-enabled cell phone by your online bank account and using your user name and password to:
    • Transfer funds from checking to savings
    • Transfer funds from savings to checking
    • Transfer funds from checking to checking
    • Transfer funds from savings to savings
    • Make payments from checking to loan accounts with us
    • Make payments from savings to loan payments
    • Get checking account(s) information
    • Get saving account(s) information
    • Stop payment requests
    • Online Bill payment
    • Obtain a copy of statement
    • Allow export of transaction history
    • You may be charged access fees by your cell phone provider based on your individual plan.  Web access is needed to use this service.  Check with your cell phone provider for details on specific fees and charges.
  • Electronic Funds Transfers Initiated By Third Parties – You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and financial institution information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your financial institution and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:
    • Electronic check conversion – You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.
    • Electronic returned check charge – You may authorize a merchant or other payee to initiate an electronic fund transfer to collect a charge in the event a check is returned for insufficient funds.

GENERAL LIMITATIONS

  • In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:
    • Transfer or withdrawals from a MMDA/SAV account to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party, are limited to 6 per statement cycle. If you exceed the transfer limitations set forth above, your account shall be subject to closure.

FEES

  • We charge $2.00 each Statement cycle to our customers whose accounts are set up to use Paper statement delivery
  • Except as indicated above, we do not charge for Electronic Fund Transfers.

ATM Operator/Network Fees:  When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

DOCUMENTATION

  • Terminal Transfers – You can get a receipt at the time you make a transfer to or from your account using a(n)
    • automated teller machine
    • point-of-sale terminal.

You may not get a receipt if the amount of the transfer is $15 or less.

  • Preauthorized Credits – If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at the telephone number listed below to find out whether or not the deposit has been made.
  • In addition:
    • You will get a monthly account statement from us, unless there are no transfers in a particular month. In any case you will get a statement at least quarterly.
    • You will get a quarterly statement from us on your savings account if the only possible electronic transfer to or from the account is a preauthorized credit.

PREAUTHORIZED PAYMENTS

  • Right to stop payment and procedure for doing so – If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here’s how:
    • Call or write us at the telephone number or address listed in this disclosure, in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.
    • We charge $25 for each stop payment.
  • Notice of varying amounts –  If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set).
  • Liability for failure to stop payment of preauthorized transfer – If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

FINANCIAL INSTITUTION’S LIABILITY

  • Liability for failure to make transfers – If we do not complete a transfer to or from your account on time or in the correct amount according to your agreement with you, we will be liable for your losses and damages. However, there are some exceptions. We will not be liable, for instance:
    • If, through no fault of ours, you do not have enough money in your account to make the transfer.
    • If the transfer would go over the credit limit on your overdraft line.
    • If the automated teller machine where you are making the transfer does not have enough cash.
    • If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
    • If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
    • There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

We will disclose information to third parties about your account or the transfers you make:

  • where it is necessary for completing transfers; or
  • in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
  • in order to comply with government agency or court orders; or
  • if you give us written permission – as explained in the separate Privacy Disclosure.

UNAUTHORIZED TRANSFERS

  • Consumer Liability – Tell us at once if you believe your card and/or code has been lost or stolen, or (if your account can be accessed by check) if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission. Also, if you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500. Also, if your statement (or for a prepaid account where no statement is sent, if your electronic history or written history) shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was transmitted to you (or for a prepaid account where no statement is sent, 60 days after the earlier of the date you electronically access your account, if the error could be viewed in your electronic history, or the date we sent the FIRST written history on which the error appeared), you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time period.

  • Mastercard Debit Card – Additional Limits on Liability for MasterCard Debit Card
    • You will be liable for any unauthorized transactions using your Mastercard debit card if: (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, and (ii) upon becoming aware of a loss or theft, you promptly report the loss or theft to us. This additional limit on liability does not apply to a prepaid card until such time as the prepaid card is registered with us and we have completed our customer identification program requirements. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

FUNDS AVAILABILITY POLICY

This policy statement applies to “transaction” accounts.  Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfer to other accounts of yours with us.  Checking accounts are the most common transaction accounts.  Feel free to ask us whether any of your other accounts might also be under this policy.

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit.  Electronic direct deposits will be available on the day we receive the deposit.  Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and federal holidays.  If you make a deposit before 2:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after 2:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

CASE-BY-CASE DELAYS
In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit.  Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit.

The first $225 of your deposits must be made available on the first business day after the day we receive your deposit.

If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit.  We will also tell you when the funds will be available.  If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.  If you will need the funds from a deposit right away, you should ask us when the funds will be available.

EXCEPTION DELAYS
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

  • Your deposit checks totaling more than $5,525 on any one day.
  • Your redeposit a check that has been returned unpaid.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency such as failure of computer or communications equipment.
  • We believe a check you deposit will not be paid.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  Deposited fund will generally be available no later than the seventh business day after the day of your deposit.

SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first 30 days your account is open:

  • Funds from electronic direct deposits to your account will be available on the day we receive the deposit;
  • Funds from deposits of cash, wire transfer, and the first $5,525 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip); and
  • The excess over $5,525 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the seventh business day after the day of your deposit.

 

 

TERMS AND CONDITIONS OF YOUR ACCOUNT

Important Information about Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

AGREEMENT
This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules.  You will receive a separate schedule of rates, qualifying balance, and fees if they are not included in this document. If you have any questions, please call us.

This agreement is subject to applicable federal laws, the laws of the state of Missouri and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

  1. summarize some laws that apply to common transactions;
  2. establish rules to cover transactions or events which the law does not regulate;
  3. establish rules to cover certain transactions or events which the law regulates but permits variation by agreement; and
  4. give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document. Nothing in this document is intended to vary our duty to act in good faith and with ordinary care when required by law.

As used in this document the words “we,” “our,” and “us” mean the financial institution and the words “you” and “your” mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. However, this agreement does not intend, and the terms “you” and “your” should not be interpreted, to expand an individual’s responsibility for an organization’s liability. If this account is owned by a corporation, partnership or other organization, individual liability is determined by the laws generally applicable to that type of organization. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

LIABILITY
You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and we can deduct any amounts deposited into the account and apply those amounts to the shortage. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.

You will be liable for our costs as well as for our reasonable attorneys’ fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs and attorneys’ fees can be deducted from your account when they are incurred, without notice to you.

DEPOSITS
Generally – Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to endorse any item payable to you or your order for deposit to this account or any other transaction with us.

Postdated Checks – a postdated check is one which bears a date later than the date on which the check is written. We may properly pay and charge your account for a postdated check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. Because we process checks mechanically, your notice will not be effective and we will not be liable for failing to honor your notice unless it precisely identifies the number, date, amount and payee of the item.

Checks and Withdrawal Rules – If you do not purchase your check blanks from us, you must be certain that we approve the check blanks you purchase. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us or by any method we do not specifically permit. We may refuse any withdrawal or transfer request which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. In addition, we may place limitations on the account until your identity is verified.

Even if we honor a nonconforming request, we are not required to do so later. If you violate the stated transaction limitations (if any), in our discretion we may close your account or reclassify it as a transaction account. If we reclassify your account, your account will be subject to the fees and earnings rules of the new account classification.

If we are presented with an item drawn against your account that would be a “substitute check,” as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item.

Cash Withdrawals – We recommend you take care when making large cash withdrawals because carrying large amounts of cash may pose a danger to your personal safety. As an alternative to making a large cash withdrawal, you may want to consider a cashier’s check or similar instrument. You assume full responsibility of any loss in the event the cash you withdraw is lost, stolen, or destroyed. You agree to hold us harmless from any loss you incur as a result of your decision to withdraw funds in the form of cash.

Multiple Signatures, Electronic Check Conversion, and Similar Transactions – An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the signatures or otherwise examine the original check or item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures.

Notice of Withdrawal – We reserve the right to require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit or demand deposit, or from any other savings account as defined by Regulation D. (The law requires us to reserve this right, but it is not our general policy to use it.) Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION
These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

  • Individual Account – This is an account in the name of one person.
  • Joint Account – With Survivorship  – (And Not As A Tenancy By The Entirety Or As Tenants In Common). This is an account in the name of two or more persons. Each of you intend that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.
  • Joint Account – As Tenants In Common Without Survivorship (As Not As A Tenancy By The Entirety). This is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you. This information will not, however, affect the number of signatures necessary for withdrawal.
  • Husband And Wife As A Tenancy By The Entirety – This is an account in the name of two persons who are husband and wife as tenants by the entirety.
  • Revocable Trust or Pay-On-Death Account (not subject to the Nonprobate Transfers Law of Missouri). If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating either of these account types reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.
  • Registration in Beneficiary Form – LDPS means a class of unnamed persons who are the lineal descendants per stirpes of a beneficiary and who are to take upon surviving, in place of and with the same priority as the named individual for whom they are indicated as substitutes.

BUSINESS, ORGANIZATION, AND ASSOCIATION ACCOUNTS
Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity.

STOP PAYMENTS
Unless otherwise provided, the rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as consumer electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules.

We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee.

You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in writing it is effective for six months. Your order will lapse after that time if you do not renew the order in writing before the end of the six-month period. If the original stop-payment order was oral your stop-payment order will lapse after 14 calendar days if you do not confirm your order in writing within that time period. We are not obligated to notify you when a stop-payment order expires.

If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including attorneys’ fees. You assign to us all rights against the payee or any other holder of the item. You agree to cooperate with us in any legal actions that we may take against such persons. You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order.

Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).

TELEPHONE TRANSFERS
A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Limitations on the number of telephonic transfers from a savings account are described elsewhere.

AMENDMENTS AND TERMINATION
We may change any term of this agreement. Rules governing changes in interest rates are provided separately in the Truth-in-Savings disclosure or in another document. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Items presented for payment after the account is closed may be dishonored. When you close your account, you are responsible for leaving enough money in the account to cover any outstanding items to be paid from the account. Reasonable notice depends on the circumstances, and in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change, you have agreed to the new term(s).

NOTICES
Any written notice you give us is effective when we actually receive it, and it must be given to us according to the specific delivery instructions provided elsewhere, if any. We must receive it in time to have a reasonable opportunity to act on it. If the notice is regarding a check or other item, you must give us sufficient information to be able to identify the check or item, including the precise check or item number, amount, date and payee. Written notice we give you is effective when it is deposited in the United States Mail with proper postage and addressed to your mailing address we have on file. Notice to any of you is notice to all of you.

STATEMENTS
Your Duty to Report Unauthorized Signatures, Alterations, and Forgeries – You must examine your statement of account with “reasonable promptness.” If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.

You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

Your Duty to Report Other Errors or Problems – In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error or problem – such as an encoding error or an unexpected deposit amount. Also, if you receive or we make available either your items or images of your items, you must examine them for any unauthorized or missing endorsements or any other problems. You agree that the time you have to examine your statement and items and report to us will depend on the circumstances. However, this time period shall not exceed 60 days. Failure to examine your statement and items and report any errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any errors on items identified in that statement and as between you and us the loss will be entirely yours.

Errors Relating to Electronic Fund Transfers or Substitute Checks (For consumer accounts only) – For information on errors relating to electronic fund transfers (e.g., on-line, mobile, computer, debit card or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution. For information on errors relating to a substitute check you received, refer to your disclosure entitled Substitute Checks and Your Rights.

Duty to Notify if Statement Not Received – You agree to immediately notify us if you do not receive your statement by the date you normally expect to receive it. Not receiving your statement in a timely manner is a sign that there may be an issue with your account, such as possible fraud or identity theft.

DIRECT DEPOSITS
If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

TEMPORARY ACCOUNT AGREEMENT
If the account documentation indicates that this is a temporary account agreement, each person who signs to open the account or has authority to make withdrawals (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

SETOFF
We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt any of you owe us now or in the future. If this account is owned by one or more of you as individuals, we may set off any funds in the account against a due and payable debt a partnership owes us now or in the future, to the extent of your liability as a partner for the partnership debt. If your debt arises from a promissory note, then the amount of the due and payable debt will be the full amount we have demanded, as entitled under the terms of the note, and this amount may include any portion of the balance for which we have properly accelerated the due date.

This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor’s right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.

CHECK PROCESSING
We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and endorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of endorsements unless you notify us in writing that the check requires multiple endorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would not be identified by a reasonable inspection of the item. Using an automated process helps us keep costs down for you and all account holders.

CHECK CASHING
We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.

TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES
If you truncate an original check and create a substitute check, or other paper or electronic image of the original check, you warrant that no one will be asked to make payment on the original check, a substitute check or any other electronic or paper image, if the payment obligation relating to the original check has already been paid. You also warrant that any substitute check you create conforms to the legal requirements and generally accepted specifications for substitute checks. You agree to retain the original check in conformance with our internal policy for retaining original checks. You agree to indemnify us for any loss we may incur as a result of any truncated check transaction you initiate. We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act. Unless specifically stated in a separate agreement between you and us, we do not have to accept any other electronic or paper image of an original check.

REMOTELY CREATED CHECKS
Like any standard check or draft, a remotely created check (sometimes called a telecheck, preauthorized draft or demand draft) is a check or draft that can be used to withdraw money from an account. Unlike a typical check or draft, however, a remotely created check is not issued by the paying bank and does not contain the signature of the account owner (or a signature purported to be the signature of the account owner). In place of a signature, the check usually has a statement that the owner authorized the check or has the owner’s name typed or printed on the signature line.

You warrant and agree to the following for every remotely created check we receive from you for deposit or collection: (1) you have received express and verifiable authorization to create the check in the amount and to the payee that appears on the check; (2) you will maintain proof of the authorization for at least 2 years from the date of the authorization, and supply us the proof if we ask; and (3) if a check is returned you owe us the amount of the check, regardless of when the check is returned. We may take funds from your account to pay the amount you owe us, and if there are insufficient funds in your account, you still owe us the remaining balance.

UNLAWFUL INTERNET GAMBLING NOTICE
Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through this account or relationship. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.

ACH AND WIRE TRANSFERS
This agreement is subject to Article 4A of the Uniform Commercial Code – Fund Transfers as adopted in the state in which you have your account with us.  If you originate a fund transfer and you identify by name and number a beneficiary financial institution an intermediary financial institution or a beneficiary, we and eery receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. Credit entries may be made by ACH. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

FACSIMILE SIGNATURES
Unless you make advance arrangements with us, we have no obligation to honor facsimile signatures on your checks or other orders. If we do agree to honor items containing facsimile signatures, you authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us. You give us this authority regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose. You must notify us at once if you suspect that your facsimile signature is being or has been misused.

AUTHORIZED SIGNER (INDIVIDUAL ACCOUNTS ONLY)
A single individual is the owner. The authorized signer is merely designated to conduct transactions on the owner’s behalf. The owner does not give up any rights to act on the account, and the authorized signer may not in any manner affect the rights of the owner or beneficiaries, if any, other than by withdrawing funds from the account. The owner is responsible for any transactions of the authorized signer. We undertake no obligation to monitor transactions to determine that they are on the owner’s behalf. The owner may terminate the authorization at any time, and the authorization is automatically terminated by the death of the owner. However, we may continue to honor the transactions of the authorized signer until: (a) we have received written notice or have actual knowledge of the termination of authority, and (b) we have a reasonable opportunity to act on that notice or knowledge. We may refuse to accept the designation of an authorized signer.

RESTRICTIVE LEGENDS OR ENDORSEMENTS
The automated processing of the large volume of checks we receive prevents us from inspecting or looking for restrictive legends, restrictive endorsements or other special instructions on every check. For this reason, we are not required to honor any restrictive legend or endorsement or other special instruction placed on checks you write unless we have agreed in writing to the restriction or instruction. Unless we have agreed in writing, we are not responsible for any losses, claims, damages, or expenses that result from your placement of these restrictions or instructions on your checks. Examples of restrictive legends placed on checks are “must be presented within 90 days” or “not valid for more than $1,000.00.” The payee’s signature accompanied by the words “for deposit only” is an example of a restrictive endorsement.

ACCOUNT TRANSFER
The account may not be transferred or assigned without our prior written consent.

ENDORSEMENTS
We may accept for deposit any item payable to you or your order, even if they are not endorsed by you. We may give cash back to any one of you. We may supply any missing endorsement(s) for any item we accept for deposit or collection, and you warrant that all endorsements are genuine.

To ensure that your check or share draft is processed without delay, you must endorse it (sign it on the back) in a specific area. Your entire endorsement (whether a signature or a stamp) along with any other endorsement information (e.g., additional endorsements, ID information, driver’s license number, etc.) must fall within 1 1/2″ of the “trailing edge” of a check. Endorsements must be made in blue or black ink, so that they are readable by automated check processing equipment.

As you look at the front of a check the “trailing edge” is the left edge. When you flip the check over, be sure to keep all endorsement information within 1 1/2″ of that edge.

It is important that you confine the endorsement information to this area since the remaining blank space will be used by others in the processing of the check to place additional needed endorsements and information. You agree that you will indemnify, defend, and hold us harmless for any loss, liability, damage or expense that occurs because your endorsement, another endorsement, or information you have printed on the back of the check obscures our endorsement. These endorsement guidelines apply to both personal and business checks.

DEATH OF INCOMPETENCE
You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies or is adjudicated (determined by the appropriate official) incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or adjudication of incompetence, and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may pay or certify checks drawn on or before the date of death or adjudication of incompetence for up to ten (10) days after your death or adjudication of incompetence unless ordered to stop payment by someone claiming an interest in the account.

FIDUCIARY ACCOUNT
Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary is someone who is appointed to act on behalf of and for the benefit of another. We are not responsible for the actions of a fiduciary, including the misuse of funds. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters.

CREDIT VERIFICATION
You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.

LEGAL ACTIONS AFFECTING YOUR ACCOUNT
If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed “legal action” in this section), we will comply with that legal action. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys’ fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.

ACCOUNT SECURITY
Duty to Protect Account Information and Methods of Access. It is your responsibility to protect the account numbers and electronic access devices (e.g., an ATM card) we provide you for your account(s). Do not discuss, compare, or share information about your account number(s) with anyone unless you are willing to give them full use of your money. An account number can be used by thieves to issue an electronic debit or to encode your number on a false demand draft which looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or coworker, for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized.

Your account number can also be used to electronically remove money from your account, and payment can be made from your account even though you did not contact us directly and order the payment.

You must also take precaution in safeguarding your blank checks. Notify us at once if you believe your checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss).

Positive Pay and Other Fraud Prevention Services. Except for consumer electronic fund transfers subject to Regulation E, you agree that if we offer you services appropriate for your account to help identify and limit fraud or other unauthorized transactions against your account, and you reject those services, you will be responsible for any fraudulent or unauthorized transactions which could have been prevented by the services we offered. You will not be responsible for such transactions if we acted in bad faith or to the extent our negligence contributed to the loss. Such services include positive pay or commercially reasonable security procedures. If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected. The positive pay service can help detect and prevent check fraud and is appropriate for account holders that issue: a high volume of checks, a lot of checks to the general public, or checks for large dollar amounts.

TELEPHONIC INSTRUCTIONS
Unless required by law or we have agreed otherwise in writing, we are not required to act upon instructions you give us via facsimile transmission or leave by voice mail or on a telephone answering machine.

MONITORING AND RECORDING TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS
Subject to federal and state law, we may monitor or record phone calls for security reasons, to maintain a record and to ensure that you receive courteous and efficient service.  You consent to advance to any such recording.

To provide you with the best possible service in our ongoing business relationship for your account we may need to contact you about your account from time to time by telephone, text messaging or email. However, we first obtain your consent to contact you about your account in compliance with applicable consumer protection provisions in the federal Telephone Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations and orders issued by the Federal Communications Commission (FCC).

  • Your consent is limited to your account, and as authorized by applicable law and regulations.
  • Your consent is voluntary and not conditioned on the purchase of any product or service from us.

With the above understandings, you authorize us to contact you regarding your account throughout its existence using any telephone numbers or email addresses that you have previously provided to us by virtue of an existing business relationship or that you may subsequently provide to us.

This consent is regardless of whether the number we use to contact you is assigned to a landline, a paging service, a cellular wireless service, a specialized mobile radio service, other radio common carrier service or any other service for which you may be charged for the call. You further authorize us to contact you through the use of voice, voice mail and text messaging, including the use of pre-recorded or artificial voice messages and an automated dialing device.

If necessary, you may change or remove any of the telephone numbers or email addresses at any time using any reasonable means to notify us.

CLAIM OF LOSS
If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys’ fees incurred by you. You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.

EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals)
We may impose early withdrawal penalties on a withdrawal from a time account even if you don’t initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your notice of penalty for early withdrawals for additional information.

ADDRESS OR NAME CHANGES
You are responsible for notifying us of any change in your address or your name. Unless we agree otherwise, change of address or name must be made in writing by at least one of the account holders. Informing us of your address or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

RESOLVING ACCOUNT DISPUTES
We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons.

WAIVER OF NOTICES
To the extent permitted by law, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account. For example, if you deposit an item and it is returned unpaid or we receive a notice of nonpayment, we do not have to notify you unless required by federal Regulation CC or other law.

 

 

TERMS AND CONDITIONS OVERDRAFT ADDENDUM

Understanding and Avoiding Overdraft and Nonsufficient Funds (NSF) Fees

GENERALLY
This Addendum is part of the Terms and Conditions of Your Account. The information in this Addendum is being provided to help you understand what happens if your account is overdrawn. Understanding the concepts of overdrafts and nonsufficient funds (NSF) is important and can help you avoid being assessed fees or charges. This section also provides contractual terms relating to overdrafts and NSF transactions. An overdrawn account will typically result in you being charged an overdraft fee or an NSF fee. Generally, an overdraft occurs when there is not enough money in your account to pay for a transaction, but we pay (or cover) the transaction anyway. An NSF transaction is slightly different. In an NSF transaction, we do not cover the transaction. Instead, the transaction is rejected and the item or requested payment is returned. In either situation, we can charge you a fee.

  • If you use our Overdraft Program and we cover a transaction for which there is not enough money in your account to pay, we will consider that an overdraft.  We treat all other transactions for which there is not enough money in your account as an NSF transaction, regardless of whether we cover the transaction or the transaction is rejected.

Determining Your Available Balance. We use the “available balance” method to determine whether your account is overdrawn, that is, whether there is enough money in your account to pay for a transaction. Importantly, your “available” balance may not be the same as your account’s “actual” balance. This means an overdraft or an NSF transaction could occur regardless of your account’s actual balance.

Your account’s actual balance (sometimes called the ledger balance) only includes transactions that have settled up to that point in time, that is, transactions (deposits and payments) that have posted to your account. The actual balance does not include outstanding transactions (such as checks that have not yet cleared and electronic transactions that have been authorized but which are still pending). The balance on your periodic statement is the ledger balance for your account as of the statement date.

As the name implies, your available balance is calculated based on the money “available” in your account to make payments. In other words, the available balance takes transactions that have been authorized, but not yet settled, and subtracts them from the actual balance. In addition, when calculating your available balance, any “holds” placed on deposits that have not yet cleared are also subtracted from the actual balance.

  • For more information on how holds on funds in your account can impact your available balance, read the subsection titled “A Temporary Debit Authorization Hold Affects Your Account Balance.”

Overdrafts.  You understand that we may, at our discretion, honor withdrawal requests that overdraw your account.  However, the fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts on your account regardless of how frequently or under what circumstances we have paid overdrafts on your account in the past. We can change our practice of paying, or not paying, discretionary overdrafts on your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line-of-credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.

  • For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service.

Nonsufficient Funds (NSF) Fees.  If an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money available in your account, and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money available in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

Payment Types. Some, but not necessarily all, of the ways you can access the funds in your account include debit card transactions, automated clearing house (ACH) transactions, and check transactions. All these payment types can use different processing systems and some may take more or less time to post. This information is important for a number of reasons. For example, keeping track of the checks you write and the timing of the preauthorized payments you set up will help you to know what other transactions might still post against your account.

  • For information about how and when we process these different payment types, see the “Payment Order of Items” section below.

Balance Information. Keeping track of your balance is important. You can review your balance in a number of ways including reviewing your periodic statement, reviewing your balance online, accessing your account information by phone, or coming into one of our branches.

Funds Availability. Knowing when funds you deposit into your checking account will be made available for withdrawal is another important concept that can help you avoid being assessed fees or charges. Please see our funds availability disclosure for information on when different types of deposits will be made available for withdrawal. For those accounts to which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal. An item may be returned after the funds from the deposit of that item are made available for withdrawal. In that case, we will reverse the credit of the item. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the times we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.

A Temporary Debit Authorization Hold Affects Your Account Balance. On debit card purchases, merchants may request a temporary hold on your account for a specified sum of money when the merchant does not know the exact amount of the purchase at the time the card is authorized. The amount of the temporary hold may be more than the actual amount of your purchase. Some common transactions where this occurs involve purchases of gasoline, hotel rooms, or meals at restaurants. When this happens, our processing system cannot determine that the amount of the hold exceeds the actual amount of your purchase. This temporary hold, and the amount charged to your account, will eventually be adjusted to the actual amount of your purchase, but it could be three calendar days, or even longer in some cases, before the adjustment is made. Until the adjustment is made, the amount of funds in your account available for other transactions will be reduced by the amount of the temporary hold. If another transaction is presented for payment in an amount greater than the funds left after the deduction of the temporary hold amount, you will be charged an NSF or overdraft fee according to our NSF or overdraft fee policy. You will be charged the fee even if you would have had sufficient funds in your account if the amount of the hold had been equal to the amount of your purchases.

Payment Order of Items. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees. Our policy is: The order in which items are presented may affect the total fees incurred by a customer. All deposits are listed first. The first items that we pay are any checks cashed by our employees or that have been written to us. We then pay any items that were submitted electronically, such as ATM withdrawals, ACH items, any debit card transactions, preauthorized automatic transfers, telephone-initiated transfers and any other electronic transfers. Finally, we pay the remaining checks in check number order; lowest check number to highest check number.

OVERDRAFT OPT-IN AGREEMENT

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.

We determine if you have enough money in your account to cover a transaction as follows:

  • We use the “available balance” method to determine whether your account is overdrawn, that is, whether there is enough money in your account to pay for a transaction. Importantly, your “available” balance may not be the same as your account’s “actual” balance. This means an overdraft or an NSF transaction could occur regardless of your account’s actual balance.

We can cover your overdrafts as follows:

What are our standard overdraft practices that come with your account?

  • We do authorize and pay overdrafts for the following types of transactions
    • Checks
    • Checks and other transactions using your checking account number
    • Automatic bill payments
  • We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
    • ATM transactions
    • Everyday debit card transactions

We pay overdrafts that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

If the Bank of St. Elizabeth pays your overdraft, you will be charged a fee of $25 each time we pay an overdraft.

The maximum number of overdraft fees that we can assess is limited to 5 per day.

CARD ACCOUNT AUTHORIZATION

I agree that use of this Card will be subject to the terms and conditions contained in the Deposit Account Agreement and Disclosure and Regulation E Disclosure that have been provided to me.  I authorize the Financial Institution to make any investigation of my credit either directly or through any agency.  I understand that the Financial Institution will retain this application and any other credit information, even if this Card is not granted.  The undersigned acknowledges receipt of and agrees to the terms of the Electronic Funds Transfer Disclosure.

PRIVACY POLICY

WHAT DOES BANK OF ST. ELIZABETH DO WITH YOUR PERSONAL INFORMATION?

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security number and Income
  • Account balances and Transaction History
  • Credit history and Credit Scores

When you are no longer our customer, we continue to share your information as described in this notice.

All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Bank of St. Elizabeth chooses to share; and whether you can limit this sharing.

Who is providing this notice?

  • Bank of St. Elizabeth

How does Bank of St. Elizabeth protect my personal information?

  • To protect your personal information from unauthorized access
    and use, we use security measures that comply with federal law.
    These measures include computer safeguards and secured fi les
    and buildings.

How does Bank of St. Elizabeth collect my personal information?

  • We collect your personal information, for example, when you
    • Open an Account or Deposit money
    • Pay your bills or Apply for a loan
    • Use your credit or debit card
  • We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

  • Federal law gives you the right to limit only
    • sharing for affiliates’ everyday business purposes-information about your creditworthiness
    • affiliates from using your information to market to you
    • sharing for nonaffiliates to market to you
  • State laws and individual companies may give you additional rights to limit sharing.

Definitions of some of the terms used above.

Affiliates – Companies related by common ownership or control. They can be
financial and nonfinancial companies.

  • Bank of St. Elizabeth has no affiliates

Nonaffiliates – Companies not related by common ownership or control. They can be
financial and nonfinancial companies.

  • Bank of St. Elizabeth does not share with nonaffiliates so they can market to you

Joint marketing – A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Bank of St. Elizabeth doesn’t jointly market

If you have questions on any of this information – call (573) 493-2313 or your local branch.