Effective January 1, 2010
All About Personal Accounts & Services Disclosure and Agreement
COMMUNICATION WITH US When you need to: • Report a lost or stolen ATM Card or Debit Card, compromised PIN or online banking access code (call us immediately) • Check account balance • Check rate information • Find out if a direct deposit has been made • Report errors concerning ATM, Debit Card, ACH or online transactions, or check conversion • Stop payment on checks written • Cancel online bill payment • Place a postdated check order • Cancel preauthorized electronic payment (ACH) • Request a refund involving a loss from a check or substitute check
Report a wire transfer error
Report an error regarding an ACH transaction not subject to Regulation E
Call
Write
800-238-4486 Automated service: 24 hours 7 days a week Personal service: 6:00 a.m.–11:00 p.m. (Pacific Time) 7 days a week (except Bank holidays)
800-922-9473
800-238-4486 Fax 800-456-9185
Union Bank® Claims Operations B02-469 PO Box 2327 Brea, CA 92821-2327
Union Bank Wire Services Division 1980 Saturn St. V02-490 Monterey Park, CA 91755-7417 Union Bank Electronic Banking Dept. PO Box 85929 San Diego, CA 92186-9580
Telephone Banking When you need to:
Call
Write
800-238-4486 • Use Telephone Banking • Ask questions about Telephone Banking • Report errors concerning Telephone Banking transactions or cancel a Telephone Banking bill payment
Automated service: 24 hours 7 days a week Personal service: 6:00 a.m.–11:00 p.m. (Pacific Time) 7 days a week (except Bank holidays)
• Reach Telephone Banking using a rotary phone
800-835-5550
• Access TDD Telephone Banking for hearing-impaired customers
800-826-7345
The Private BankSM customer support
888-826-2669
Priority Banking® customer support
800-888-6466
Global Markets Foreign Exchange
213-236-6943
Union Bank Telephone Banking B01-806 PO Box 30700 Los Angeles, CA 90060-0700
Any notice you are required to give to us by law or by this Agreement, or other order or instruction you may give us, must be in writing and mailed or delivered to us at your office of account or any address we specify, unless prescribed otherwise in this Agreement. You agree that we shall be allowed a reasonable period of time to act upon any such notice, order or instruction.
Table of Contents INTRODUCTION . ............................................................................1 Personal (Consumer) Accounts.........................................................1 DEFINITION OF CERTAIN TERMS ......................................1 CHECKING ACCOUNTS..............................................................3 Free Checking.........................................................................................3 Teen Access®..........................................................................................4 55 PLUS Checking ................................................................................4 Regular Checking...................................................................................5 Tiered Interest Checking.....................................................................6 Basic Checking........................................................................................7 Electronic Transfer Account (ETASM)...............................................8 Electronic Access Account (EAASM)................................................9 SIGNATURE BANKINGSM. ........................................................10 PRIORITY BANKING®.................................................................11 THE PRIVATE BANKSM............................................................... 13 COMPANY BENEFITS BANKING®. .................................... 15 FOREIGN CURRENCY DEMAND ACCOUNTS............ 16 SAVINGS AND MONEY MARKET ACCOUNTS — GENERAL INFORMATION......................................................18 SAVINGS ACCOUNTS................................................................ 19 Union Bank Preferred SavingsSM...................................................... 19 Regular Savings...................................................................................20 CuentahorrosSM Savings.................................................................... 21 55 PLUS Savings................................................................................... 21 Kidz Savings......................................................................................... 22 Teen Savings........................................................................................ 22 MONEY MARKET ACCOUNTS............................................. 23 MoneyMarket Account..................................................................... 23 High Rate MoneyMarketSM Account............................................. 24 INFORMATION RELATING TO CHECKING, SAVINGS AND MONEY MARKET ACCOUNTS......... 25 Order of Processing Checks and Other Items............................ 25 Account Statements.......................................................................... 25 Overdrafts and Overdraft Protection............................................ 26 Stop Payments..................................................................................... 28 Postdated Checks............................................................................... 29 Stale-Dated Checks........................................................................... 29 Changing Account Types..................................................................30 Check Orders and Bank-by-Mail Kits............................................30 Check 21................................................................................................30 Sub-Accounts....................................................................................... 31
TIME DEPOSIT ACCOUNTS.................................................. 32 Deposits and Withdrawals.............................................................. 32 Custom or Fixed Maturity Time Deposit..................................... 33 Promotional Rate Time Deposit..................................................... 34 Payment Bond Time Deposit........................................................... 35 Foreign Currency Time Deposit..................................................... 35 ELECTRONIC BANKING SERVICES................................ 38 Business Days...................................................................................... 38 ATM Card and Debit Card Services.............................................. 38 Telephone Banking..............................................................................41 Online Banking.................................................................................... 42 Electronic Fund Transfers Initiated by Third Parties................. 43 Automated Clearing House (ACH) Services.............................. 43 Limitation on Transfers..................................................................... 43 Third-Party Disclosures....................................................................44 Documentation of Transfers............................................................44 Notice of Varying Amounts............................................................. 45 Lost or Stolen Card or Unauthorized Transaction..................... 45 Debit Card Used as a MasterCard®.............................................. 45 In Case of Errors or Questions about Your Electronic Transfers............................................................. 45 Electronic Transaction Cancellations............................................46 Your Liability for Unauthorized Electronic Funds Transfers............................................................48 Our Liability for Failure to Complete Electronic Funds Transfers............................................................48 Transactions Not Subject to Electronic Fund Transfer Act or Regulation E......................................................... 49 WIRE TRANSFERS...................................................................... 49 General.................................................................................................. 49 Incoming Wire Transfers..................................................................50 Outgoing Wire Transfers..................................................................50 Our Liability Concerning Wire Transfers.....................................50 Your Responsibility Concerning Wire Transfers........................50 SAFE DEPOSIT SERVICE......................................................... 51 Access..................................................................................................... 51 Storage of Prohibited Property ....................................................... 51 Safe Deposit Box Fees....................................................................... 52 Union Bank’s Responsibility............................................................. 52 Lost Keys............................................................................................... 52 Termination or Amendment............................................................ 52 Escheat ................................................................................................. 53 Relocation of Box................................................................................ 53
GENERAL BANKING INFORMATION............................. 53 Account Ownership........................................................................... 53 Adjustments and Corrections . ......................................................54 Amendments.......................................................................................54 Change of Personal Information..................................................... 55 Check Cashing for Non-Customers............................................... 55 Check Quality...................................................................................... 55 Checks Payable to a Business or Trust......................................... 56 Checks Sent for Collection............................................................... 56 Checks with Restrictive Language or Notations or Duplicate Check Numbers................................... 57 Claim of Loss........................................................................................ 57 Closing an Account............................................................................ 57 Communication with You................................................................. 58 Compliance with Laws and Regulations....................................... 58 Conflicting Demands or Disputes.................................................. 58 Credit Verification.............................................................................. 59 Customer Identification.................................................................... 59 Death or Incompetence....................................................................60 Demand Drafts or Remotely Created Checks............................60 Deposits................................................................................................. 61 Endorsements....................................................................................... 61 English Language Controlling........................................................... 61 Facsimile Signatures.......................................................................... 62 FDIC Insurance.................................................................................... 62 Funds Availability................................................................................ 62 Governing Law..................................................................................... 63 Inactive Accounts and Unclaimed Property............................... 63 Income Tax Reporting........................................................................64 Income Tax Withholding.................................................................. 65 International Transactions............................................................... 65 Large Cash Withdrawals..................................................................66 Legal Process.......................................................................................66 Multiple Signatures............................................................................ 67 Online Services.................................................................................... 67 Notice of Withdrawal........................................................................ 67 Payable on Death (POD) Designation..........................................68 Power of Attorney...............................................................................68 Presentment of Items........................................................................68 Pricing Regions.................................................................................... 69 Problem Resolution............................................................................ 69 Protecting Your Account.................................................................. 70 Purchase of Monetary Instruments................................................ 71 Record Search....................................................................................... 71 Recording and Monitoring Conversations.................................... 71 Release of Information to Third Parties......................................... 71
Returned Items.................................................................................... 72 Returned Items —Custom Service................................................. 73 Right of Setoff...................................................................................... 73 Services for Disabled Customers................................................... 74 Severability........................................................................................... 75 Third-Party Service Providers......................................................... 75 Transfers and Assignments............................................................. 75 Waivers.................................................................................................. 75 2010 Personal Accounts Fee Schedule....... 76 Checking Accounts............................................................................ 76 Savings Accounts............................................................................... 76 ATM Transactions.............................................................................. 77 Statement Services............................................................................ 77 Services for Accounts with Check Writing Privileges.............. 78 Telephone Banking Fees................................................................... 78 Online Transaction Downloads to Personal Financial Management Software............................... 78 Wire Transfer Fees............................................................................. 79 Safe Deposit Box Fees ......................................................................80 Legal Process Fees..............................................................................80 Miscellaneous Charges......................................................................81
INTRODUCTION Welcome to Union Bank, N.A. Your account is backed by the reputation and resources of one of the largest banks on the West Coast, as well as by coverage of the Federal Deposit Insurance Corporation (FDIC) to permissible limits. Most accounts may be accessed in person at a Union Bank branch location, through online banking, Telephone Banking, or by using your ATM Card or MasterCard® Debit Card. Not all accounts and services are offered at all times at every Union Bank branch for all ownership accounts or types. Some services require you to enroll or subscribe. This disclosure, fee schedule, other related documents we may provide you, and any amendments or other agreements you may enter into relating to specific banking services, contain the terms of our agreement (“Agreement”) with you. This Agreement supersedes all previous agreements related to this subject matter. Except as otherwise stated, this Agreement does not alter or amend the terms or conditions of any other agreement you have with us.
Personal (Consumer) Accounts Personal accounts are available for the non-business, personal use of our customers. Businesses, including sole proprietors, may select one of our business accounts to meet their banking needs. Activity such as merchant bankcard settlements, frequent deposits of coin and currency, usage of couriers for delivering deposits, business-related activity, or any other activity that we determine to be unusual or excessive for a personal account, are considered to be commercial in nature and must be processed through an appropriate business account.
DEFINITION OF CERTAIN TERMS Annual Percentage Yield (APY) – APY is the total amount of interest paid on an account, based on the interest rate and the frequency of compounding for a 365/366-day period, and is expressed as a percentage. Annual Percentage Yield Earned (APYE) – APYE is an annualized rate that reflects the relationship between the amount of interest actually earned on your account during a statement period and the average daily balance in the account for that period. Authorized Signer – Authorized Signers on your account are those noted on the Bank Depositor Agreement (signature card) and each person you designate, as discussed herein, to act for you under a power of attorney, often referred to as your “attorney-in-fact,” “agent,” or “deputy.” An Authorized Signer may act alone in conducting account transactions, including account closure, without notice to the Owner(s) or other Authorized Signers(s). An Authorized Signer may establish additional accounts in the same name. Balances – Available Balance – Available Balance is the amount of funds available for withdrawal and authorizing transactions. Your Available Balance may be different than your Ledger Balance
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or Collected Balance. The Available Balance is reduced by 1) the amount of pending transactions, such as a point-of-sale transaction; 2) funds on hold in accordance with our funds availability policy; 3) our receipt of notice that a transaction will be presented or returned; 4) our receipt of legal process relating to your account; or 5) your use of your account as security for a loan. Available Funds – Available Funds has the same meaning as Available Balance. Average Monthly Ledger Balance – Average Monthly Ledger Balance is calculated by adding the Ledger Balance in the relevant account for each day of the period and dividing that figure by the number of days in the period. Collected Balance – Collected Balance is the Ledger Balance minus the amount of any deposited checks for which we have not yet received provisional credit from the bank of account. Your Collected Balance may be different than your Available Balance or your Ledger Balance.
Owner – Owner includes individuals, joint tenants, tenants in common or both spouses on a community property account as stated in our records. For purpose of this Agreement, Owner may include individuals acting only in a fiduciary capacity, such as the trustees of a trust, executors, administrators and conservators acting under “letters.” When this Agreement discusses actions only Owners can take, we will use the term "Owner." We, our, us, and the Bank – The words “we,” “our,” “us” and “the Bank” refer to Union Bank, N.A. You and your – The words “you” and “your” refer to the Owner(s) of an account and all of the Authorized Signers, as applicable.
CHECKING ACCOUNTS Free Checking Account Features: ●●
Combined Balance – Combined Balance is the total Average Monthly Ledger Balance in one or more accounts that you have asked us to link to your primary checking account. The Combined Balance is used to determine whether you will be assessed regular monthly account service charges. You can instruct us to combine balances in up to 20 checking, savings, money market and time deposit accounts to arrive at your Combined Balance. Signature BankingSM and Priority Banking® clients may include amounts held in IRAs, Portfolio Connection®, UnionBanc Investment Services accounts, and some Union Bank business accounts. If the required Combined Balance is not met in your primary checking account, we look at the previous statement’s Average Monthly Ledger Balance in the linked accounts and combine them with the current month’s Average Monthly Ledger Balance in your primary checking account. For time deposits, we use the Ledger Balance of the day before the current primary checking account statement date. If the Combined Balance does not meet the account requirements, you will be charged a regular monthly service charge. You cannot link accounts to more than one checking account for Combined Balance purposes. Use of Combined Balance does not apply to analyzed accounts. Ledger Balance – Ledger Balance is the aggregate amount of funds in an account according to our records, and includes all electronic credits and all cash and check deposits, even if we have not yet received credit for some or all of the deposited checks from the bank of account. Your Ledger Balance may be different than your Available Balance or Collected Balance. Business Days – Our Business Days are Monday through Friday, excluding federal holidays, even though we may be open on a Saturday or Sunday.
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No monthly service charge No minimum balance required to maintain the account Free first order of single Union Bank exclusive design checks (120 wallet-size), for new customers only Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $ Statement Options: ●● ●●
Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
Fees (see Fee Schedule at the end of this Agreement): ●●
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Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM Mini-Statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Interest: No interest paid.
Item – An Item includes a check, substitute check, electronic Item, draft, demand draft, remotely created Item or other order or instruction for the payment, transfer or withdrawal of funds.
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100.00
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Teen Access®
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This account must be owned jointly by an adult and a minor between 13 and 17 years of age.
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Account Features: ●● ●● ●● ●●
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No monthly service charge No minimum balance required to maintain the account Union Bank ATM Card/Debit Card with a choice of pre-set daily limits Online banking and online bill pay (online interbank transfers restricted to adult account Owner) Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $
100.00
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Minimum Deposit to Open Account:........................................ $
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Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
Fees (see Fee Schedule at the end of this Agreement): ●●
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Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
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Regular Checking Account Features: ●● ●● ●● ●●
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When the minor account Owner turns age 18, the Teen Access account will convert to a Free Checking account; we will notify you approximately 60 days prior to account conversion Cash Reserve overdraft protection is not available for this account.
55 PLUS Checking
Account Features: ●● ●● ●●
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No monthly service charge No minimum balance required to maintain the account Free first order of single Union Bank exclusive design checks (120 wallet-size), for new customers only Union Bank ATM Card/Debit Card Online banking and online bill pay
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No minimum balance required to maintain the account Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $
100.00
Statement Options: ●●
This account requires at least one account Owner to be 55 years of age or older.
Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Interest: No interest paid.
Other: ●●
Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
Fees (see Fee Schedule at the end of this Agreement): ●●
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Interest: No interest paid.
100.00
Statement Options: ●●
Statement Options: ●●
Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
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Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
Minimum Balance or Account Activity Required to Avoid Monthly Service Charge: Any of the following: ●● ●● ●● ●●
$1,000 minimum daily Ledger Balance $2,500 Average Monthly Ledger Balance $3,000 monthly Combined Balance A direct deposit of at least $100 per month.
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Fees (see Fee Schedule at the end of this Agreement): ●●
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Interest:
Regular monthly service charge if minimum balance or account activity requirement not met Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
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Interest: No interest paid.
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Tiered Interest Checking
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Account Features: ●● ●● ●● ●● ●●
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Interest-bearing checking account No minimum balance required to maintain the account Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Basic Checking Account Features: ●● ●● ●●
Minimum Deposit to Open Account:........................................ $
100.00
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Statement Options: ●● ●●
Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
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Minimum Balance Required to Avoid Regular Monthly Service Charge: Any of the following balances: $2,500 minimum daily Ledger Balance $5,000 Average Monthly Ledger Balance $7,500 monthly Combined Balance.
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Fees (see Fee Schedule at the end of this Agreement):
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100.00
Statement Options: ●●
Regular monthly service charge if minimum balance requirement not met Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
No minimum balance required to maintain the account Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $
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The interest rate and corresponding APY for the account are variable and are set at our discretion. They may change as often as daily without notice to you. Interest rates and APYs for different balance ranges are listed on the Interest Rate Sheet, which is provided separately as part of this Agreement. We reserve the right to apply the same interest rate to more than one balance range. We use the daily balance method to calculate the interest. We apply a daily periodic rate to the daily Collected Balance in the account. Each day, the Collected Balance will fall within one of the balance ranges designated for this account type. We pay interest on the entire Collected Balance in the account that day at the rate assigned for that particular balance range. Interest begins to accrue no later than the Business Day we receive credit for the deposit of non-cash Items, such as checks. Interest is compounded monthly using a 365-day year (366 days each leap year), and credited to the account monthly. No interest accrues unless the Collected Balance in the account is sufficient to earn at least 1/10 of one cent per day at the daily periodic rate in effect. If the account is closed during a month, accrued interest will be paid to the closing date. For accounts with special statements such as daily, weekly, dated or flexible, interest will be paid to the account on the last Business Day of the month.
Online statement Paper statement (check image service not available).
Fees (see Fee Schedule at the end of this Agreement): ●● ●●
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Regular monthly service charge Fee for more than 5 checks per monthly statement period; online payments for which we issue a check count toward this limitation Fees apply to use your Union Bank ATM Card or Debit Card at non-Union Bank ATMs or to obtain an ATM mini-statement; pointof-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly
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Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
do not have the right to have these funds taken out of your Electronic Transfer Account. There are a few exceptions, however, such as to satisfy child support obligations you owe. If you deposit funds other than federal benefit payments to your Electronic Transfer Account, your creditors may be able to have those funds taken out of your account; however, your federal benefits would still be protected. If you have questions about a creditor’s right to remove funds from your Electronic Transfer Account, contact your benefit agency or your local legal services organization.
Interest: No interest paid.
Electronic Transfer Account (ETASM) This account is intended only for individuals who receive regular benefit payments from a federal, state or local government by direct deposit. Account Features: ●● ●● ●● ●●
No minimum balance required to maintain the account Union Bank ATM Card Telephone Banking Unlimited ATM withdrawals (subject to Available Balance) and balance inquiries.
Minimum Deposit to Open Account: . ..................................... $
Electronic Access Account (EAASM) This account is intended only for individuals who receive regular benefit or payroll payments by direct deposit. Account Features: None
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Statement Options:
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Paper statement (check image service not available).
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Fees (see Fee Schedule at the end of this Agreement): ●● ●● ●● ●● ●●
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Regular monthly service charge Fee for more than 2 branch withdrawals per month Fee for more than 4 branch information service calls Fee for more than 4 Telephone Banking personal service calls Fees apply to use your Union Bank ATM Card at non-Union Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Interest: No interest paid.
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Minimum Deposit to Open Account:........................................ $
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Paper statement (check image service not available).
Fees (see Fee Schedule at the end of this Agreement): ●● ●● ●● ●●
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Check writing, check cashing, check deposits or cash deposits are not permitted ATM cash withdrawals are limited to $500 daily; point-of-sale purchase transactions are limited to $700 daily If a direct deposit is not received in a given month, we will send a letter to your address in our records asking you to reactivate the direct deposit. If a direct deposit is not reactivated within the timeframe set forth in our letter, your account will be closed and any remaining funds in the account will be mailed to you by check to the address we have for you in our records May have only one account Owner May not be linked with any other account Required Disclosure – Union Bank is required by the Department of the Treasury to ensure that your Electronic Transfer Account meets certain criteria and to provide you with certain disclosures about your Electronic Transfer Account. These obligations are set forth in an ETA Financial Agency Agreement between Union Bank and the Department of the Treasury. The text of the ETA Financial Agency Agreement is publicly available and is published in the Federal Register at 64 FR 38510, July 16, 1999. Federal Payments – Many federal benefit payments are protected from attachment under federal law. This means that your creditors
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Statement Options: ●●
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Other:
No minimum balance required to maintain the account Union Bank ATM Card Telephone Banking Unlimited ATM withdrawals (subject to Available Balance) and balance inquiries.
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Account setup fee Regular monthly service charge Fee for more than 2 branch withdrawals per month Fee for more than 4 branch information service calls Fee for more than 4 Telephone Banking personal service calls Fees apply to use your Union Bank ATM Card at non-Union Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Interest: No interest paid. Other: ●●
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Check writing, check cashing, check deposits or cash deposits are not permitted ATM cash withdrawals are limited to $500 daily; point-of-sale purchase transactions are limited to $700 daily A direct deposit must be received at least once a month. If a direct deposit is not received in 90 days, we will send a letter to your address in our records asking you to reactivate the direct deposit. If a direct deposit is not reactivated within the timeframe set forth in our letter, your account will be closed and any remaining funds in the account will be mailed to you by check to the address we have for you in our records May have only one account Owner May not be linked with any other account.
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Minimum Balance Required to Avoid Monthly Service Charge:
SIGNATURE BANKING Signature Banking offers discounts on products and complimentary services to individuals or businesses that have a Combined Balance of $10,000 or more in Union Bank deposit accounts and/or assets held with Union Bank subsidiaries and affiliates, including UnionBanc Investment Services.1
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Fees (see Fee Schedule at the end of this Agreement): ●●
Account Benefits and Features: ●●
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Requires a Tiered Interest Checking or Regular Checking account; monthly service charge is waived Union Bank Platinum MasterCard® Debit Card One regular MoneyMarket account or Basic Business Checking account free of the regular monthly service charge; not applicable to personal High Rate MoneyMarket, Business High Rate MoneyMarket or Business Premium MoneyMarket accounts No Union Bank fee for using a Union Bank ATM Card/Debit Card at non-Union Bank ATMs worldwide and up to 2 rebates per month of ATM fees charged by other banks Free ATM Mini-Statements, available only at Union Bank ATMs Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® with online banking Telephone Banking and telephone bill pay Unlimited deposits and balance inquiries Unlimited withdrawals and transfers from checking accounts; limited withdrawals from savings or money market accounts (subject to Available Balance) Free personalized Signature Banking checks Pre-approved, $500 Cash Reserve overdraft protection line of credit with no annual fee; higher credit limit may be available upon credit approval; see our Consumer Cash Reserve Account Agreement and Disclosure Statement for details No fee for Travelers Cheques, Union Bank Cashier’s Checks or Personal Money Orders Free stop payments, copies of checks and statements, and confirmation notices of fund transfers from your Signature Banking checking account Free basic safe deposit box or $40 annual rental discount for larger box (box size and availability may vary by branch) Discounted Identity Theft Protection Complimentary financial review from UnionBanc Investment Services,1 our brokerage subsidiary.
Minimum Deposit to Open Account:........................................ $
100.00
Combined Balance of $10,000 or more in Union Bank deposit accounts and/or assets held with Union Bank subsidiaries and affiliates, including UnionBanc Investment Services.1
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One personal Tiered Interest Checking or Regular Checking account, free of the regular monthly service charge; additional accounts may incur a monthly service charge Fees assessed by other banks may apply when you use your Union Bank ATM Card or Debit Card at non-Union Bank ATMs; Union Bank will refund up to 2 such fees per month; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Interest: Interest is paid on the Tiered Interest Checking account. Refer to the Tiered Interest Checking section of this Agreement for details. Other: Terms and conditions of Signature Banking are subject to change. If you no longer meet the minimum balance requirement of Signature Banking, we will assess the regular monthly service charge or assign you to another account.
PRIORITY BANKING Priority Banking is available to individuals and businesses with combined deposits at Union Bank or assets invested with its subsidiaries and/or affiliates totaling $100,000 or more. The Bank may consider other qualifying factors to determine eligibility. Benefits and Features: ●●
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2 personal checking and/or savings accounts, free of the regular monthly service charge Free personalized Priority Banking checks Priority Banking Platinum MasterCard® Debit Card No-fee ATM access worldwide, including free cash withdrawals and transfers; Union Bank will rebate any fee that an owner or operator may charge for use of a non-Union Bank ATM Free ATM Mini-Statements (available only at Union Bank ATMs) Free online banking and online bill pay Account alerts by email, text message or voice message via online enrollment
Statement Options: ●● ●●
Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
1 Investments available through UnionBanc Investment Services LLC, a registered broker-dealer, investment advisor, member FINRA (www. finra.org)/SIPC (www.sipc.org), and subsidiary of Union Bank, N.A.:
• Are NOT insured by the FDIC or by any other federal government agency • Are NOT Bank deposits • Are NOT guaranteed by the Bank or any Bank Affiliate • Are subject to investment risk, including the possible loss of principal 10
11
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Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks® Free check images with paper statement Unlimited deposits and balance inquiries Unlimited withdrawals and transfers from checking accounts; limited withdrawals from savings or money market accounts (subject to Available Balance) Telephone Banking and telephone bill pay Pre-approved $1,000 Cash Reserve line of credit with no annual or transfer fee; higher limit may be available upon credit approval; see our Consumer Cash Reserve Account Agreement and Disclosure Statement for details No fee for Travelers Cheques, Union Bank Cashier’s Checks and Personal Money Orders Free stop payments, copies of checks and statements, and confirmation notices for fund transfers from your Priority Banking checking and savings accounts $50 annual safe deposit box discount (box size and availability may vary by branch) 1 /4 % off the published rate on selected consumer loans as a Priority Banking customer 1 Discounted Identity Theft Protection Free access to Online Investing and Automated Telephone Investing with UnionBanc Investment Services 2,3 Complimentary financial and insurance reviews from our brokerage subsidiary, UnionBanc Investment Services, and our insurance division, UnionBanc Insurance Services.3
Minimum Opening Deposit:....................................................... $
100.00
Fees (see Fee Schedule at the end of this Agreement): ●●
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Other: Terms and conditions to qualify for Priority Banking are subject to change. Your banking accounts may be assigned to another area of the Bank if you no longer meet the minimum balance requirement for Priority Banking.
THE PRIVATE BANKSM Services of The Private Bank are available in select geographic locations. Banking services are offered to individuals and professional service firms. Individuals are generally expected to maintain combined investable assets of at least $1,000,000 invested with Union Bank and its subsidiaries and/or affiliates. The Bank may consider other qualifying factors to determine eligibility. Benefits and Features: ●●
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Statement Options: ●● ●●
Online statement Paper statement (check image service available at no charge).
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1 Not a commitment to lend. Loans are subject to credit and collateral approval. Certain fees and other terms and conditions apply and are subject to change. 2 Refer to the UnionBanc Investment Services Standard Fee & Commission Schedule for fees pertaining to Online Investing and Automated Telephone Investing. 3 UnionBanc Investment Services LLC is a registered broker-dealer, investment advisor, member FINRA (www.finra.org)/SIPC (www. sipc.org), and subsidiary of Union Bank, N.A. UnionBanc Insurance Services is a division and DBA of Union Bank, N.A (CA Insurance License #0817733). Non-deposit investment and insurance products available through UnionBanc Investment Services and/or UnionBanc Insurance Services:
• Are NOT insured by the FDIC or by any other federal government agency • Are NOT Bank deposits • Are NOT guaranteed by the Bank or any Bank Affiliate • Are subject to investment risk, including the possible loss of principal • Insurance and annuities are products of the insurance carriers 12
2 personal checking and/or savings accounts free of the regular monthly service charge; additional accounts may incur a monthly service charge Telephone bill pay free of the regular monthly service charge; fees apply for more than 25 bill payments per month Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
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Personalized relationship management delivered by a Private Banker and a team of wealth management professionals Unlimited number of personal checking accounts, free of the regular monthly service charge Free personalized Private Bank checks The Private Bank Platinum MasterCard® Debit Card Free unlimited calls to the office of The Private Bank and The Private Bank Customer Service Unit No-fee ATM access worldwide, including free cash withdrawals and transfers; Union Bank will rebate any fee that an owner or operator may charge for use of a non-Union Bank ATM Free ATM Mini-Statements (available only at Union Bank ATMs) Unlimited deposits and balance inquiries Unlimited withdrawals and transfers from checking accounts; limited withdrawals from savings or money market accounts (subject to Available Balance) Free online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks® Free check images with paper statement Telephone Banking and telephone bill pay No fee for Travelers Cheques, Union Bank Cashier’s Checks and Personal Money Orders Free stop payments, copies of checks and statements, and confirmation notices for funds transfers from your personal checking accounts in The Private Bank
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$100 annual safe deposit box discount (box size and availability may vary by branch) Discounted Identity Theft Protection Pre-approved $2,500 Cash Reserve line of credit with no annual or transfer fee; higher limit may be available upon credit approval; see our Consumer Cash Reserve Account Agreement and Disclosure Statement for details Loan discount of up to 1/2% off the published rate on selected consumer loans; no documentation fee on vehicle loans (auto, boat, RV) 1 Personal unsecured lines of credit may be eligible for additional discounts on published rates, based on your relationships with Union Bank and its subsidiaries and affiliates 1 Free access to Online Investing and Automated Telephone investing with UnionBanc Investment Services 2,3 Complimentary financial and insurance reviews from our brokerage subsidiary, UnionBanc Investment Services, and our Insurance division, UnionBanc Insurance Services 3 Exclusive Jumbo Loan Program, featuring the Fit for Life Mortgage.SM1
Minimum Opening Deposit:....................................................... $
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Company Benefits Banking is a banking program designed for eligible employees of participating companies. Account Features: ●● ●● ●● ●● ●●
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Online statement Paper statement (check image service available at no charge).
Fees (see Fee Schedule at the end of this Agreement): ●●
COMPANY BENEFITS BANKING®
100.00
Statement Options: ●●
Other: Terms and conditions to qualify for The Private Bank are subject to change. Your banking accounts may be assigned to another area of the Bank if you no longer meet the qualification requirements for The Private Bank.
Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Telephone bill pay free of the regular monthly service charge; fees apply for more than 25 bill payments per month Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
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1 Not a commitment to lend. Loans are subject to credit and collateral approval. Certain fees and other terms and conditions apply and are subject to change. 2 Refer to the UnionBanc Investment Services Standard Fee & Commission Schedule for fees pertaining to Online Investing and Automated Telephone Investing. 3 UnionBanc Investment Services LLC is a registered broker-dealer, investment advisor, member FINRA (www.finra.org)/SIPC (www. sipc.org), and subsidiary of Union Bank, N.A. UnionBanc Insurance Services is a division and DBA of Union Bank, N.A (CA Insurance License #0817733). Non-deposit investment and insurance products available through UnionBanc Investment Services and/or UnionBanc Insurance Services:
• Are NOT insured by the FDIC or by any other federal government agency • Are NOT Bank deposits • Are NOT guaranteed by the Bank or any Bank Affiliate • Are subject to investment risk, including the possible loss of principal • Insurance and annuities are products of the insurance carriers 14
No minimum balance required to maintain the account Requires a monthly direct deposit of at least $100 Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits, withdrawals and transfers (subject to Available Balance), and balance inquiries Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks® $50 welcome bonus, paid after first direct deposit is received; only one per lifetime 1 Welcome Package of 25 generic style checks $40 safe deposit box discount on first year rental fee; available to new box customers only (box size and availability may vary by branch) Special Value Visa® credit card at preferred rates with no annual membership fee 2 Complimentary financial review through UnionBanc Investment Services, our brokerage subsidiary 3 Mortgage financing—free consultation with a professional mortgage consultant, up to 90% financing and $250 off our processing fee when refinancing or buying a new home4 Online investing with brokerage account access, trading and market data tools, including free real-time quotes.3
Minimum Deposit to Open Account:........................................ $
100.00
1 As required by law, the cash bonus must be reported as interest paid and requires Form 1099-INT be sent for tax purposes. 2 Subject to credit approval. Other terms and conditions may apply. Card issued by First Bankcard, a division of First National Bank of Omaha. 3 Investments available through UnionBanc Investment Services LLC, a registered broker-dealer, investment advisor, member FINRA (www. finra.org)/SIPC (www.sipc.org), and subsidiary of Union Bank, N.A.:
• Are NOT insured by the FDIC or by any other federal government agency • Are NOT Bank deposits • Are NOT guaranteed by the Bank or any Bank Affiliate • Are subject to investment risk, including the possible loss of principal 4 Not a commitment to lend. Loans are subject to credit and collateral approval. Certain fees and other terms and conditions apply and are subject to change.
15
Statement Options: ●● ●●
Online statement Paper statement (check image service available for a fee; see Fee Schedule at the end of this Agreement).
Requirement to Avoid Monthly Service Charge: ●●
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Regular monthly service charge if direct deposit requirement not met Fees apply to use your Union Bank ATM Card or Debit Card at non-Union Bank ATMs or to obtain an ATM mini-statement; pointof-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Interest: No interest paid. Other: ●●
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Direct deposit of at least $100 per month.
Fees (see Fee Schedule at the end of this Agreement): ●●
There are substantial risks and volatility involved in investing in currency markets. FCDAs are subject to certain risks to which U.S. dollar deposits are not. FDIC insurance does not cover losses associated with such risks. These risks may include some or all of the following:
If the monthly direct deposit is less than $100 each month or is discontinued, you will be reminded of the direct deposit requirement by mail. If the required direct deposit is not reinstated, the account will be converted to a Regular Checking account, and the terms and fees for that account will apply. The Company Benefits Banking program is only for the owners and employees of participating companies. Program eligibility requires a company to have two or more employees and direct deposit capabilities for employee payroll checks. In order to determine ongoing eligibility, and to ensure continued benefits to employees, you agree that we may request employment verification for existing Company Benefits Checking account holders. We may modify the terms of accounts of individuals who are no longer entitled to the benefits of the program after they leave the company. We reserve the right to terminate or change the program at any time without notice to you.
FOREIGN CURRENCY DEMAND ACCOUNTS Foreign Currency Demand Accounts (FCDAs) are offered by Union Bank and are available in several different currencies. These accounts are denominated in the foreign currency selected, and are eligible for insurance coverage by the Federal Deposit Insurance Corporation (FDIC) for up to the equivalent permissible limit in U.S. dollars, subject to other FDIC limitations. FDIC insurance is determined in the FCDA based on the value of the foreign currency balance converted into U.S. dollars as of the Bank’s closure date. Please see the FDIC Insurance section of this Agreement for additional information.
16
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Currency Valuation Risk – The chance that the value of a foreign currency account measured in U.S. dollars will decrease because of unfavorable changes in the currency exchange rates. Country Risk – The risk that domestic events, such as political upheaval, financial troubles or natural disasters, will weaken a country’s currency markets. Regional Risk – The chance that an entire region could be hurt by events such as political upheaval, financial troubles or natural disasters. Emerging Markets Risk – The possibility that currency in some countries identified as emerging markets will be more volatile, and substantially less liquid, than currencies in more-developed countries. Sovereign Risk – The risk that occurs if a country prohibits the cross-border circulation of its currency or otherwise fails to honor its currency.
The risks described are not meant to be all-inclusive. There may be other risks not described in this Agreement that could substantially affect the value of a foreign currency investment as measured in U.S. dollars. These risks are the sole responsibility of the account holder and not the Bank. FCDAs may not be suitable for investors who are risk averse. Consult your investment and tax advisors prior to investing. FCDAs can be used only for the settlement of foreign currencydenominated incoming or outgoing wires, transfers from or to your U.S. dollar account, and pooling for maturing foreign currency forward contracts. A Union Bank checking account is required when opening an FCDA. U.S. dollar funds may be converted to a foreign currency that will be placed in the FCDA. The amount of the foreign currency received will be based on the value of the foreign currency at the time of conversion. If the value of the foreign currency has fallen since the original purchase, there will be a loss when it is converted back to U.S. dollars. In some cases, the foreign country issuing the foreign currency or the United States government may impose restrictions or prohibitions on the conversion of the foreign currency into U.S. dollars. These restrictions may result in the loss of some or all of the foreign currency investment. The Bank is not responsible for such losses, and FDIC insurance does not cover these losses. There may be a variety of fees and/or charges on this FCDA. You will pay a fee for converting your U.S. dollars into the foreign currency and for converting the foreign currency back into U.S. dollars. The Bank must receive your FCDA-related disbursement instructions, including outgoing wire instructions, no later than 1:00 p.m. (Pacific Time). If you make a transfer to an account with a foreign bank, the Bank must receive your instructions no later than 1:00 p.m. (Pacific Time) the Business Day before the day of the intended transfer. Failure to provide timely instructions could delay the delivery of these funds. Business Days do not include Saturdays, Sundays or Bank holidays, including holidays of countries with which you are trading.
17
Overdrafts are not permitted, and any payment that could exceed the Available Balance is not processed or acted upon until sufficient funds have been deposited to your FCDA. The Bank is not responsible for any loss attributable to delayed payments or credits due to nonsufficient Available Funds. There is no automatic transfer from your U.S. dollar account to your FCDA. Deposits cannot be made in cash or draft in the foreign currency. Withdrawals cannot be made in cash, check or draft in the foreign currency. To ensure accuracy, always use your FCDA account number, not your U.S. dollar account number, when arranging for incoming wire transfers.
If you exceed the transfer limits on more than an occasional basis, we are required to convert your account to one not subject to transfer limitations or close your account. In addition, each time a transfer is paid against your account in excess of those allowed by federal regulation, you will be assessed an excess activity charge. Limited Transactions (maximum total of 6 per month or monthly statement cycle, subject to Available Balance): ●● ●● ●●
SAVINGS AND MONEY MARKET ACCOUNTS — GENERAL INFORMATION
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Interest:
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The interest rate and corresponding APY for savings and money market accounts are variable and are set at our discretion. They may change as often as daily without notice to you. Interest rates and APYs for different balance ranges are listed on the Interest Rate Sheet, which is provided separately as part of this Agreement. We reserve the right to apply the same interest rate to more than one balance range. We use the daily balance method to calculate the interest. We apply a daily periodic rate to the daily Collected Balance in the account. Each day, the Collected Balance will fall within one of the balance ranges designated for the account. We pay interest on the entire Collected Balance in the account that day at the rate assigned for that particular balance range. Interest begins to accrue no later than the Business Day we receive credit for the deposit of non-cash Items, such as checks. We usually receive credit for deposited checks in 1 or 2 Business Days, depending primarily on the location of the banks on which they are drawn. Interest on savings accounts is compounded daily using a 365-day year (366 days each leap year), and credited to the account on the last Business Day of the calendar quarter. Interest on money market accounts is compounded monthly using a 365-day year (366 days each leap year), and credited to the account monthly. No interest accrues unless the Collected Balance in the account is sufficient to earn at least 1/10 of one cent per day at the daily periodic rate in effect. If the account is closed during a month, accrued interest will be paid to the closing date. For accounts with special statements such as daily, weekly, dated or flexible, interest will be paid to the account on the last Business Day of the month.
Federal regulations limit certain types of withdrawals or transfers from your savings or money market account to a total maximum of: ●● ●●
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Unlimited Transactions: ●● ●● ●●
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6 per calendar month for savings accounts 6 per monthly statement cycle for money market accounts 6 per calendar month for money market accounts for which you request us to generate your account statement on a specific day each month.
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Deposits ATM cash withdrawals and transfers (subject to Available Balance) Withdrawals or transfers made in person or by messenger at a Union Bank branch, or by mail (subject to Available Balance) Automatic transfers to repay your Union Bank loan (subject to Available Balance)
SAVINGS ACCOUNTS Union Bank Preferred SavingsSM Account Features: ●● ●●
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Limitations on Withdrawals:
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Checks ATM Card/Debit Card purchases or payments Automatic transfers to another deposit account at Union Bank, including Savings Overdraft Protection Plan transfers Automatic transfers to another institution Telephone transfers Telephone or online bill payments Online withdrawal transfers
Requires a linked Union Bank personal checking account Requires, per monthly statement cycle, at least one direct deposit of $100 or more into the linked checking account, or at least 4 ATM or debit card purchases or payments from the linked checking account No minimum balance required to maintain the account Union Bank ATM Card May be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account Online banking Account alerts by email, text message or voice message via online enrollment Telephone Banking Unlimited deposits and balance inquiries Limited withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $ 10,000.00 Statement Options: ●● ●●
Online statement Paper statement (check image service not available).
19
Balance Required to Avoid Regular Monthly Service Charge: ●●
Fees (see Fee Schedule at the end of this Agreement):
$10,000 minimum daily Ledger Balance.
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Fees (see Fee Schedule at the end of this Agreement): ●● ●●
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Regular monthly service charge if minimum balance requirement not met Fees apply to use your Union Bank ATM Card at non-Union Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Other: You may close the linked personal checking account at any time. However, if you do so, or if you permit the personal checking account to remain inactive with a zero or negative balance, or if you do not make a direct deposit of at least $100 to, or make 4 ATM Card or Debit Card purchases or payments from, that checking account during each monthly statement cycle, you agree that we may convert the Preferred Savings account to a Regular Savings account, subject to all applicable terms, conditions and fees associated with Regular Savings. We will notify you before we convert your account.
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CuentahorrosSM Savings Same account terms as Regular Savings.
55 PLUS Savings This account requires at least one account Owner to be 55 years of age or older. Account Features: ●● ●● ●●
Regular Savings
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Account Features: ●● ●● ●●
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No minimum balance required to maintain the account Union Bank ATM Card May be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another designated Union Bank account Online banking Account alerts by email, text message or voice message via online enrollment Telephone Banking Unlimited deposits and balance inquiries Limited withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $
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Online statement Paper statement (check image service not available).
Fees (see Fee Schedule at the end of this Agreement):
Online statement Paper statement (check image service not available).
Either of the following: $300 minimum daily Ledger Balance At least one monthly deposit of $25.
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Fee for more than 4 in-person withdrawals or transfers at a branch Fees apply to use your Union Bank ATM Card at non-Union Bank ATMs or to obtain an ATM Mini-Statement; point-of-sale merchants may also add a surcharge Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
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20
50.00
Statement Options:
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Balance or Account Activity Required to Avoid Regular Monthly Service Charge:
No regular monthly service charge No minimum balance required to maintain the account Union Bank ATM Card May be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account Online banking Account alerts by email, text message or voice message via online enrollment Telephone Banking Unlimited deposits and balance inquiries Limited withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $
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Statement Options: ●●
50.00
Regular monthly service charge if minimum balance or account activity requirement not met Fee for more than 4 in-person withdrawals or transfers at a branch Fees apply to use your Union Bank ATM Card at non-Union Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Transaction downloads to Quicken, Microsoft Money or QuickBooks are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
21
Kidz Savings
Statement Options:
This account is intended for depositors ages 8 through 12.
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Account Features: ●● ●● ●● ●● ●●
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No regular monthly service charge No minimum balance required to maintain the account Gift for reaching certain balance levels Online banking Account alerts by email, text message or voice message via online enrollment Telephone Banking Unlimited deposits and balance inquiries Limited withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Fees (see Fee Schedule at the end of this Agreement): ●●
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1.00
Statement Options: ●● ●●
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Online statement Paper statement (check image service not available).
Fees (see Fee Schedule at the end of this Agreement): ●●
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Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
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MONEY MARKET ACCOUNTS MoneyMarket Account
When the account Owner turns age 13, the Kidz Savings account will convert to a Teen Savings account. We will notify the Owner approximately 60 days prior to account conversion. This account may not be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account.
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Teen Savings
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This account is intended for depositors ages 13 through 17. Account Features: ●● ●● ●● ●● ●●
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When the account Owner turns age 18, the Teen Savings account will convert to a Regular Savings account. We will notify the Owner approximately 60 days prior to account conversion. This account may be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account only if it is owned jointly with an adult. If an account Owner is younger than 13 years of age, a parent or guardian is required to be a joint Owner on the account.
Account Features:
Other: ●●
Fees apply to use your Union Bank ATM Card at non-Union Bank ATMs or to obtain an ATM Mini-Statement; point-of-sale merchants may also add a surcharge Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Other: ●●
Minimum Deposit to Open Account:........................................ $
Online statement Paper statement (check image service not available).
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No regular monthly service charge No minimum balance required to maintain the account Union Bank ATM Card with $100 daily withdrawal limit Online banking Account alerts by email, text message or voice message via online enrollment Telephone Banking Unlimited deposits and balance inquiries Limited withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $
Minimum Deposit to Open Account:........................................ $ 2,500.00 Statement Options: ●● ●●
Online statement Paper statement (check image service not available).
Balance Required to Avoid Regular Monthly Service Charge: ●●
$2,500 minimum daily Ledger Balance.
Fees (see Fee Schedule at the end of this Agreement): ●●
1.00 ●●
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No minimum balance required to maintain the account Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits and balance inquiries Limited check writing, withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Regular monthly service charge if minimum balance requirement not met Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM Mini-Statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time
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Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Other: This account may not be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account. ●●
High Rate MoneyMarketSM Account Account Features: ●● ●● ●● ●● ●●
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Requires a linked Union Bank Tiered Interest Checking account No minimum balance required to maintain the account Union Bank ATM Card/Debit Card Online banking and online bill pay Account alerts by email, text message or voice message via online enrollment Telephone Banking and telephone bill pay Unlimited deposits and balance inquiries Limited check writing, withdrawals and transfers (subject to Available Balance) Online transaction downloads to Quicken®, Microsoft® Money or QuickBooks®.
Minimum Deposit to Open Account:........................................ $ 10,000.00 Statement Options: ●● ●●
Online statement Paper statement (check image service not available).
Balance Required to Avoid Regular Monthly Service Charge: ●●
$15,000 minimum daily Ledger Balance.
Balance Required to Earn High Rate MoneyMarket Interest Rate: ●●
$10,000 minimum daily Ledger Balance. If the daily Ledger Balance is less than $10,000, the interest rate for the Union Bank MoneyMarket account will apply that day.
Fees (see Fee Schedule at the end of this Agreement): ●●
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Regular monthly service charge if minimum balance requirement not met Fees apply to use your Union Bank ATM Card or Debit Card at nonUnion Bank ATMs or to obtain an ATM mini-statement; point-of-sale merchants may also add a surcharge Free telephone bill pay for the first 3 months; fees may apply after that time Transaction downloads to Quicken®, Microsoft® Money or QuickBooks® are free when accessed through Union Bank’s online banking service; fees apply if software programs are accessed directly Fees for other account services not listed above may be assessed Nonsufficient funds and overdraft fees may apply.
Other: ●●
The balance used to determine the interest rate on the High Rate MoneyMarket account is the sum of the Ledger Balances in the High Rate MoneyMarket account and the linked Tiered Interest
24
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Checking account. Each day, the sum of the Ledger Balances in the High Rate MoneyMarket account and the linked Tiered Interest Checking account will fall within one of the balance ranges designated for the High Rate MoneyMarket account. The interest rate and APY for that particular balance range are applied to the Collected Balance in the High Rate MoneyMarket account only that day. The Collected Balance in the Tiered Interest Checking account earns interest at the Tiered Interest Checking account rate. You may close the linked Tiered Interest Checking account at any time. However, if you do so, or you permit the Tiered Interest Checking account to remain inactive with a zero or negative balance, you agree that we may convert the High Rate MoneyMarket account to a regular MoneyMarket account, subject to all applicable terms, conditions and fees associated with that account. The High Rate MoneyMarket account may not be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account.
INFORMATION RELATING TO CHECKING, SAVINGS AND MONEY MARKET ACCOUNTS Order of Processing Checks and Other Items You agree that we may pay or certify your checks and other Items in any order we choose, and that we may establish different processing priorities and categories for checks and other Items. Within each priority or category, we may process checks and other Items in the order in which we receive them, in check number order or in the dollar amount order, and we may change these priorities, categories and orders at any time without notice to you. We will generally pay larger checks and transactions first. However, we are not obligated to do so. When there are not sufficient Available Funds in an account to cover all of the checks and other items presented on a given day, some of the priorities, categories and orders may result in more nonsufficient funds fees than others.
Account Statements We will make statements available to you as required by law or upon request. We may stop sending you statements at any time without notice, including if your account is inactive, in default or overdrawn. Statement Options: ●●
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Online Statement – Your statement is available electronically and can be accessed through the Bank’s online banking service at unionbank.com. Each statement lists your deposit and withdrawal activity and allows you to view the front and back of checks and deposit tickets posted to your account during the statement period. Paper Statement – We will mail you a statement that lists your deposit and withdrawal activity. With a paper statement, you may request check image service for a fee. This includes an image of the front of each check posted to your account during the statement period. The check image service is not available for money market accounts, Basic Checking or Foreign Currency Demand accounts.
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Combined Statements – You may request, and we may require, combined statements if you have more than one eligible account with us. You may designate up to 20 checking, savings and money market accounts to appear on one comprehensive monthly statement with your designated primary checking account. All accounts combined for one statement will have the same monthly cutoff date. You may choose the “Online Statement” or “Paper Statement” option for your primary checking account. All other accounts combined for the statement will be assigned the Paper Statement option. The combined statement will be delivered to the address of your primary checking account. Special Statement Services: The following special statement services are available. We may charge a fee for some of these statement services. ●●
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Snapshot Statement – Lists all activity for your account since the beginning of the statement period; ordered through Telephone Banking or at a branch Insta-Statement – Lists all activity for your account since the beginning of the statement period; printed at a branch while you wait ATM Mini-Statement (Last 10 Transactions) – Lists the last 10 transactions of any type for the account you select ATM Mini-Statement (Last 10 ATM Card or Debit Card Transactions) – Lists the last 10 transactions made with the ATM Card Will Call – Statement held at a branch for your pickup Month-end cycle statement Flexible statement rendering on your custom calendar (up to 5 statements per month) Multiple statement originals (up to 4 duplicates per month) Overnight or express courier.
Reviewing Statements – You agree that you are responsible for monitoring and reviewing the activity of your account. You agree to inspect your statements as soon as you receive them and to report any irregularities to us. Time Limit for Claims – If you think there is an error or an unauthorized transaction shown on your statement, you must tell us immediately and in no circumstance later than 30 days (40 days for a substitute check) after we mail, deliver or otherwise make the statement available to you. If you do not, we may refuse to reimburse you for future unauthorized transactions by the same wrongdoer(s). In addition, if you do not report an error or unauthorized transaction within 6 months after we mail, deliver or otherwise make the statement available to you, the account balance indicated on your statement will be considered correct. We are not responsible for any liability you may incur as a result of your failure to timely notify us of errors.
Overdrafts and Overdraft Protection It is your responsibility to make sure that your account contains Available Funds at the time you make a withdrawal transaction of any kind. If you are uncertain of your Available Balance, please contact us or check your account balance online. If you do not have Available Funds on deposit in your account to cover a transaction, we may return or reject an Item unpaid or, at our sole discretion, authorize the
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transaction. We are not responsible for any liability you may incur as a result of us returning or rejecting an Item or other transaction unpaid. If we authorize the transaction and it creates an overdraft, you must pay back any overdraft immediately. Each Owner may be jointly and severally liable to pay back any overdraft created by any account Owner or Authorized Signer, even if the Owner did not write the check, initiate the transaction, benefit from it or make any deposits to the account. The fact that we may pay an Item or complete a transaction that creates an overdraft in no way obligates us to pay any other Item or complete any other transaction that creates or increases an overdraft. We may discontinue permitting overdrafts at any time without notice to you, regardless of our previous practice or course of conduct. You agree that we may apply deposits (including, but not limited to, Social Security, SSI and similar benefits) to overdrafts without notice to or consent from you, unless the law states otherwise. Overdraft (Nonsufficient Funds) Fee – We may charge you a nonsufficient funds fee regardless of whether we pay or return an Item. We may assess this fee for each Item we pay or return. The amount of the nonsufficient funds fee depends upon the number of overdraft occurrences you have experienced for the applicable account in the previous 12 months. For this purpose, one overdraft occurrence is any day in which Items are presented for payment against nonsufficient funds. Continued Overdraft Fee – If you overdraw your account and do not deposit funds to cover the overdraft by the 7th calendar day that your account has been continuously overdrawn, we will charge you a continued overdraft fee. For this purpose, the first day is the day the overdraft occurred. We will charge this fee for each Business Day that the account remains overdrawn for up to 5 Business Days. If you make a deposit sufficient to cover the overdraft on a Business Day at one of our banking offices or ATMs before the posted cutoff time, no fee is charged for that Business Day. To help you avoid overdrafts and fees for transactions presented against nonsufficient funds, we offer our Savings Overdraft Protection Plan and our Cash Reserve Account for a fee. See Fee Schedule. If you choose both services for the same account, the Savings Overdraft Protection Plan will be accessed first. Savings Overdraft Protection Plan – With this plan, you authorize the Bank to make transfers automatically from your eligible savings account to cover transactions presented against nonsufficient funds in your checking account. For this purpose, funds from your savings account will be automatically transferred to your designated checking account. These automatic transfers are considered “limited transactions,” and each transfer is counted as one of the 6 transfers allowed per calendar month by federal regulation. Each day a transfer occurs from your savings account to cover transactions presented against nonsufficient funds, we will immediately withdraw a daily transfer fee from your checking account. Transfers are made in the exact amount to cover the shortfall in Available Funds plus the daily transfer fee. Your savings account balance may be reduced to as low as $1, unless you specify a different balance amount.
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If you do not have Available Funds in your combined checking and savings accounts to cover the shortfall amount and the daily transfer fee, no automatic transfer will be made and your checking account may be subject to an overdraft fee. Cash Reserve Account – This is a revolving line of credit available to customers meeting certain credit requirements. With this account, you authorize the Bank to make automatic advances from your Cash Reserve Account to cover transactions presented against nonsufficient funds in your designated checking account, Advances made by the Bank or you can be made up to your available Cash Reserve Account limit. You can also withdraw cash by making advances directly from your Cash Reserve Account. You may repay the advanced amount in full or in minimum monthly installments automatically deducted from your designated checking account.1
Stop Payments Contact us or visit us online in order to initiate a stop payment request for a check. You agree to pay us a fee for each stop payment order or transaction cancellation you place. This section does not apply to cancellation of electronic transactions. Refer to the Electronic Transaction Cancellation section of this Agreement. We will send you a confirmation notice of your stop payment or cancellation request. Notify us immediately if it contains any errors, otherwise our records will be considered conclusive proof of the contents of the stop payment order. Paper Checks – You may ask us to stop payment on a check. When you request a stop payment, you must provide us with the following: a) your account number; b) the exact check number; and c) the exact dollar amount of the check. We may also request the payee name or check date. If any of the required information is incomplete or incorrect, we will not be responsible for failing to act on the order. We must receive a stop payment order from you early enough to allow us reasonable time to act on it before your check is presented. A stop payment order becomes effective after we have verified that the check has not been paid and have processed your request. If you request a stop payment on a check that has been previously paid, the stop payment order is void. We will research whether an Item has been paid up to 90 days prior to your request. We are not responsible for any liability you may incur as a result of placing a stop payment order on a check that has been paid, or paid more than 90 days prior to your request. Stop payments expire 6 months after the date we process the order. If you wish to reactivate an expired or released stop payment order, you must place a new order. (If your account is on automated account analysis, the stop payment will automatically renew at 6-month intervals until you request its release.)
1 Subject to credit approval. Certain fees apply. Terms and conditions are subject to change. Refer to the Cash Reserve Account Agreement and Disclosure Statement for full details.
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We may process stop payment orders that cover a range of checks that are missing or stolen without specifying the dollar amount. In this case, we may require you to close your account and open a new one. You should be aware that anyone holding your check, including Union Bank, may be entitled to enforce payment against you despite the stop payment order. You also agree to indemnify, defend and hold us harmless from all costs (including attorneys’ fees), actions, damages, claims and demands related to, or arising from, our action in stopping payment on your check. If a stop payment order expires or is cancelled by you, we may pay the check if it is presented for payment, even though it may be stale dated by that time. If we pay your check over a valid stop payment order, we will credit your account for the amount of loss you prove has occurred, or the face amount of the check, whichever is less. However, we must have a reasonable period of time to research the circumstances concerning any such check before crediting your account. Until such research is complete, we have no obligation to “provisionally” credit your account. In no event is the Bank liable for special or consequential damages or attorneys’ fees you may incur. You agree to assign to us all rights against the payee and/or any other holder of your check. You also agree to cooperate with us in any legal actions that we may take against such persons. Cashier’s Checks – We will accept a stop payment order for a Cashier’s Check only if it has been lost, stolen or destroyed. We will not issue a replacement check sooner than 90 days after the issue date of the Cashier’s Check.
Postdated Checks Unless you provide us with a postdating order, we may or may not pay or accept for deposit any check drawn on your account presented for payment or deposit prior to the date written on the check. To place a postdating order, you must contact us and provide us with your account number, the check number, the exact amount of the check and the date written on the check. We may also request the name of the payee. Complete accuracy is essential because postdating orders are processed by computer. If you do not give us the exact information we require, we may still attempt to return the check if it is presented before its date, but we will not be liable to you if the check is presented and paid. We must receive the postdating order early enough to allow us reasonable time to act on it before your check is presented. We will mail you a confirmation notice for your postdating order. Examine the confirmation notice carefully and notify us immediately if it contains any errors. Unless you tell us otherwise, our records will be considered conclusive. A postdating order expires 6 months after we receive it or on the date written on the check, whichever occurs first.
Stale-Dated Checks We may choose to pay or not to pay, or accept for deposit, any check presented more than 6 months after the date written on the check
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unless there is a valid stop payment order in effect. We are not responsible for any liability you may incur as a result of our decision to pay, not to pay or accept for deposit such an Item.
Changing Account Types If you want to change your account type to or from one that earns interest, you may do so without having to change your account number or order new checks. Any applicable service charge will be based on the new type of account. When you change to an account that does not earn interest, you will forfeit the interest accrued on your account since your last monthly statement period. When you change to an account that earns interest, you will begin earning interest no later than the Business Day following the day of the request. If you change from an account that earns interest to another type of account that also earns interest, the new interest rate and calculation become effective that day. All interest earned until the day of the change will remain in your account, and your account then begins earning interest based on the new type of account.
Check Orders and Bank-by-Mail Kits You may order personalized checks, Bank-by-Mail kits and deposit slips by contacting us or ordering online. You must verify the accuracy of all information shown on your checks. If you find an error, do not use the checks and notify us immediately of the error. Applicable fees will automatically be deducted from your account.
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The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-earning account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 Business Days after we receive your claim, and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we receive your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. How To Make a Claim for a Refund – If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at 1-800-2384486. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must include all of the following: ●●
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Substitute Checks – To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks, with a slightly reduced image of the front and back of the original check. The front of a substitute check states: “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment, just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. Substitute Checks and Your Rights – In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).
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A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect) An estimate of the amount of your loss An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss A copy of the substitute check and/or the following information to help us identify the substitute check: the check number, the name of the person to whom you wrote the check and the amount of the check.
Sub-Accounts Each checking account has a master account that consists of 2 subaccounts—a transaction sub-account and a savings sub-account. At the beginning of the month we allocate funds between the 2 sub-accounts as we deem appropriate. Your checks and other Items are paid from the transaction sub-account. Funds are transferred from the savings subaccount to the transaction sub-account as needed to cover checks and other transactions. On the 6th transfer from the savings sub-account during a statement period, all of the funds from the savings sub-account will be transferred to the transaction sub-account. Your access to your checking account occurs at the master account level, and your periodic statements will reflect transactions at the master account level, without reference to either sub-account. The master account and the sub-accounts are maintained on the Bank’s books, but you do not have direct access to the sub-accounts. Except
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as provided in this paragraph, the provisions of this Agreement apply to your checking account as a whole. If you have an interest-bearing checking account, the interest rate and APYE for your account apply to the Combined Balance of the sub-accounts, and a single interest rate and APYE will appear on periodic statements. We will use the Combined Balance of the sub-accounts to determine if your checking account qualifies for applicable waivers of charges and activity fees.
Example: A $2,000 time deposit established for 36 months at 4% is withdrawn after 12 months. To calculate the compensating fee, we first determine the rate for a new $2,000, 24-month time deposit (the remaining term of the time deposit). If this rate were 7%, we would calculate a fee equal to 24 months’ simple interest on $2,000 at 3% (the rate difference of 7% minus 4%). The compensating fee is $120. The early withdrawal fee would be 181 days’ simple interest on $2,000 at 4%, or $39.67. In this example, the $120 compensating fee is greater and would be assessed.
TIME DEPOSIT ACCOUNTS
Custom or Fixed Maturity Time Deposit
A time deposit guarantees a fixed interest rate for a specified period of time (maturity term). For principal amounts up to $1,000,000, you may designate a maturity term of 7 days to 60 months. For principal amounts of $1,000,000 or more, you may designate a maturity term of 7 days to 12 months. A longer term may be available, subject to market conditions and Bank policy.
Minimum Deposit to Open Account:
Deposits and Withdrawals When you invest in a time deposit, you agree to keep the principal amount on deposit with us for the maturity term you have selected. After the time deposit account is opened, you may not make additional deposits into the account until after the maturity date during the grace period. If you withdraw all or a portion of the principal prior to the maturity date of the deposit, we may assess an early withdrawal fee or compensating fee (described below), whichever is greater. It may be necessary to deduct all or a portion of the fee from the principal amount of the time deposit. Any portion of a time deposit withdrawn due to the death or legal incompetence of the Owner is not subject to an early withdrawal fee or compensating fee. Early Withdrawal Fee – We calculate the early withdrawal fee as follows: ●●
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For maturity terms of 7 through 31 days, the greatest of 1) all interest earned on the amount withdrawn; 2) 7 days’ interest on the amount withdrawn; or 3) the amount of interest that could have been earned on the amount withdrawn for one-half the term For maturity terms of 32 to 91 days, the greater of 1) 31 days’ simple interest at the rate being paid on the amount withdrawn; or 2) the compensating fee For maturity terms of 92 days to one year, the greater of 1) 91 days’ simple interest at the rate being paid on the amount withdrawn; or 2) the compensating fee For maturity terms of more than one year, the greater of 1) 181 days’ simple interest at the rate being paid on the amount withdrawn; or 2) the compensating fee.
Compensating Fee – We calculate the compensating fee as follows: 1) We subtract the interest rate being paid on your original time deposit from the rate we would pay on a new time deposit in the amount of your original time deposit with a term equal to the number of days remaining in the term. 2) Using that interest rate difference, we calculate the amount of simple interest that could have been earned on the amount withdrawn for the number of days remaining in the current term of the original time deposit.
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Maturity Term Opening Deposit 7 days –31 days................................................................................. $ 2,500.00 32 days – 60 months....................................................................... $ 350.00 Renewal at Maturity – You may designate a time deposit with a principal amount of less than $1,000,000 to automatically renew at the end of the maturity term. If you do not designate automatic renewal and do not withdraw your funds at maturity, we will place the funds in your time deposit account into a non-interest earning account. Time deposits with a principal amount of $1,000,000 or greater may not be automatically renewed. If your time deposit account has a maturity term of 32 days or more, we will notify you in writing before the first maturity date and all subsequent maturity dates. We reserve the right to close any time deposit account on the first maturity date or any subsequent maturity date, or change the terms or the method of interest calculation on any of these maturity dates, after giving you written notice of our intention to do so. Automatic Renewal – Time deposits with an automatic renewal provision will automatically renew for the same term and interest rate in effect on the maturity date, unless the funds are withdrawn within the “grace period” designated for the account. For time deposits with a maturity term of 31 days or less, the grace period is 3 calendar days after the maturity date. For time deposits with a maturity term of 32 days or more, the grace period is 10 calendar days after the maturity date. These automatic renewal provisions apply to subsequent maturity dates. Interest – The interest rate and corresponding APY for a time deposit account is set at our discretion and is based on market conditions, the account balance and the maturity term of the time deposit. The interest rate and corresponding APY are shown on the time deposit account receipt, which is provided separately as part of this Agreement. You will be paid this interest rate until the maturity date of the time deposit. Unless otherwise stated, the interest rate and APY assume interest remains on deposit until the maturity date of the time deposit. Withdrawing interest before maturity will reduce earnings.
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Interest begins to accrue on the Business Day you make a deposit. We use the daily balance method to calculate the interest on your account. This method multiplies a daily periodic rate to the balance in the account each day and compounds interest as indicated below: ●●
Compounding Frequency
Principal Amount
Daily Periodic Rate
$350–$99,999
1/365 of the annual interest rate (1/366 in a leap year)
Daily
$100,000–$999,999
1/360 of the annual interest rate
Daily
$1,000,000 or more
1/360 of the annual interest rate
None (simple interest)
Payment Bond Time Deposit
For maturity terms of 7 through 31 days, interest will be paid only on the maturity date. For maturity terms of 32 days to one year, you may designate interest to be paid monthly, quarterly, semiannually, annually or on the maturity date. For terms greater than one year, interest must be paid at least annually, but you may designate interest to be paid monthly, quarterly or semiannually. You may designate the manner in which interest will be paid. Available payment options are below:
Payment bond time deposit accounts are available to individuals who are required to post a bond. Except as described below, payment bond time deposits are subject to the terms and conditions of the custom or fixed maturity time deposit. Minimum Deposit to Open Account: Maturity Term Opening Deposit 7 to 31 days........................................................................................ $ 2,500.00 32 to 364 days.................................................................................. $ 1,000.00 1 to 5 years......................................................................................... $ 500.00 ●●
Interest Payment Method Deposit to Union Bank Checking, Savings or Money Market Account
Added to Time Deposit
Paid by Check
$350–$999,999/ Automatic Renewal
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$350–$999,999/ No Automatic Renewal
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$1,000,000 or more/ No Automatic Renewal
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Principal Amount/ Renewal Option
Promotional Rate Time Deposit From time to time, we may offer preferred rates on time deposit accounts for specific maturity terms (“promotional rate time deposits”). Promotional rate time deposits have different minimum balance requirements, depending upon rates, which are disclosed at account opening. Except as described below, promotional rate time deposits are subject to the same terms and conditions of the custom or fixed maturity time deposit account. ●●
You are required to have a Union Bank personal checking account in order to open and maintain a promotional rate time deposit. The preferred interest rate on a promotional rate time deposit is fixed during the maturity term of your time deposit for so long as you maintain your Union Bank personal checking account. However, the interest rate may be reduced if the required personal checking account is closed or reaches a zero or negative balance. In such event, we may change the interest rate on your time deposit
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account to the standard rate that was in effect on the day you originated your promotional rate time deposit (which was disclosed to you at account opening). The new interest rate will be fixed for the remainder of the maturity term. At the end of the maturity term, your promotional rate time deposit account will be automatically renewed for the same maturity term at the non-promotional (standard) interest rate in effect on the account’s maturity date, unless withdrawn during the 10-day grace period.
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Interest on your payment bond time deposit account is payable to you and may be deposited to your Union Bank checking or savings account, or may be paid by check. At the end of the maturity term, the principal amount is payable to the third person you designated on the payment bond certificate, unless that third person has reassigned the principal amount back to you by endorsing the certificate and you presenting it to us. Interest on a payment bond time deposit with a principal amount of $1,000,000 or greater is compounded daily.
Foreign Currency Time Deposit Foreign Currency Time Deposit (FCTD) accounts are offered by Union Bank and are available in several different currencies. These accounts are denominated in the foreign currency you select (the foreign currency you select is hereinafter referred to as the “Foreign Currency”), and are eligible for insurance coverage by the Federal Deposit Insurance Corporation (FDIC) for up to the equivalent permissible limit in U.S. dollars, subject to other FDIC limitations. For the FCTD, FDIC insurance is based on the value of the Foreign Currency balance converted into U.S. dollars as of the Bank’s closure date. For more information, refer to the FDIC Insurance section of this Agreement. FCTD accounts are subject to certain risks to which U.S. dollar deposits are not. FDIC insurance does not cover losses associated with such risks. These risks may include some or all of the following: ●●
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Currency Valuation Risk – The chance that the value of a foreign currency account measured in U.S. dollars will decrease because of unfavorable changes in the currency exchange rates. Country Risk – The risk that domestic events, such as political upheaval, financial troubles or natural disasters, will weaken a country’s currency markets.
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Regional Risk – The chance that an entire region could be hurt by events such as political upheaval, financial troubles or natural disasters. Emerging Markets Risk – The possibility that currency in some countries identified as emerging markets will be more volatile, and substantially less liquid, than currencies in more-developed countries. Sovereign Risk – The risk that occurs if a country prohibits the cross-border circulation of its currency or otherwise fails to honor its currency.
Deposits to Your FCTD – In order to open and maintain an FCTD account, you must first have an ordinary U.S. Dollar-denominated checking or savings account with us or a Portfolio Connection account with our affiliate UnionBanc Investment Services (each a “U.S. Dollar Account”).
The risks described above are not all-inclusive. There may be other risks not described in this Agreement that could substantially affect the value of a foreign currency investment as measured in U.S. dollars. These risks are the sole responsibility of the account holder and not the Bank. FCTDs may not be suitable for investors who are risk averse. Consult your investment and tax advisor prior to investing.
If you fund your FCTD with a wire transfer to the account in the Foreign Currency, then interest begins to accrue the Business Day after the Business Day we receive the wire transfer.
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FCTDs have a fixed maturity date, and renew automatically for the same term and at the interest rate then in effect. Interest begins to accrue on the same day as the FCTD renewal. (See below for instructions on other maturity options.) Terms from one month to one year are available. FCTDs are non-negotiable and non-transferrable. Interest Rate and Calculation of Interest – Interest is simple (paid on principal balance only) and Union Bank determines the interest rate in its sole discretion. Interest is fixed for the term of the account, is payable only at maturity and begins to accrue on the day your FCTD account is funded. See Deposits to Your FCTD, to the right, to learn how to fund your FCTD. Your Time Deposit Confirmation Notice contains information on the maturity date, interest rate and Annual Percentage Yield (APY). 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. The APY assumes interest will remain on deposit until maturity. Withdrawing interest before maturity will reduce earnings. For FCTDs in British pounds or Hong Kong dollars, we pay 1/365 th of the annual rate of interest 365 days a year (366 days in a leap year). For all other currencies for which we offer FCTDs, we pay 1/360th of the annual rate of interest 365 days a year (366 days in a leap year). (The differing calculation methods are based on market conventions for each specific currency.) For additional information, contact Global Markets Foreign Exchange at 213-236-6943. After the account is opened, you may not make additional deposits into or withdrawals from the account until the maturity date. If, in our sole discretion, we permit a withdrawal before the maturity date, such withdrawal is subject to an Early Withdrawal Fee or Compensating Fee. See the Time Deposit Accounts section of this Agreement for details. If your account has a term of one month, an Early Withdrawal Fee or Compensating Fee will apply only to withdrawals made within the first 6 days of the term. The minimum deposit to open and maintain an FCTD account is $25,000. The amount of the Foreign Currency invested will be based on its value at the time of initial conversion. Partial withdrawals will not be permitted if it would result in a principal balance remaining in the account of less than $25,000.
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If you fund your FCTD with a disbursement from a maturing FCTD, then interest begins to accrue on the maturity date of the term then ending.
If you fund your FCTD with a transfer of the Foreign Currency from a Foreign Currency Demand Account, then interest begins to accrue the Business Day after the Business Day of the transfer. If you fund your FCTD by purchasing the Foreign Currency using funds from your U.S. Dollar Account maintained at Union Bank or at UnionBanc Investment Services, then interest begins to accrue the Business Day after the Business Day of the purchase. If there are not sufficient Available Funds in your U.S. Dollar Account at the time you request to purchase the Foreign Currency, we will make the transfer on the 1st Business Day that sufficient proceeds of non-cash deposits (such as checks) to your U.S. Dollar Account have become available. Maturity Instructions – We issue a notice of maturity for FCTD accounts. Upon maturity, FCTDs will renew automatically for the same term and for the market interest rate then in effect at the time of renewal, unless you give us timely maturity instructions to the contrary. To give such maturity instructions, or to give us new maturity instructions before any subsequent maturity date, you must call Global Markets Foreign Exchange at 213-236-6943 at least 2 Business Days prior to the relevant maturity date. You agree that we may record these calls and that our records of your instructions shall be conclusive. If you do not want your FCTD to renew automatically, for the same term and for the market interest rate then in effect at the time of renewal, the following are your choices for maturity instructions: a) Renew the account for a different term and/or for a different principal amount at the interest rate in effect on the maturity date for the new term and the new principal amount. Deposit of additional funds to a matured account must be made as described above under the heading Deposits to Your FCTD. If you renew the account for a lesser principal amount, which may not be less than the minimum deposit amount of $25,000, the remaining funds must be handled in the manner described in b), c) or d), below. b) Transfer the FCTD proceeds to a Foreign Currency Demand Account c) Wire Transfer the FCTD proceeds in the Foreign Currency d) Convert the funds into U.S. dollars and transfer them to your U.S. Dollar Account. However, if you instruct us to act on any one of the maturity instructions described above, you must also confirm these instructions by (i) promptly calling Global Markets Foreign Exchange at (213-236-6943) and specifying the new principal amount and/
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or term under a) above; or (ii) promptly giving the Bank such instructions as it customarily requires for the transfer under b) or c) above, or the currency conversion and transfer under d) above, as the case may be. FCTD Fees – Your FCTD account is subject to the fees shown in the Fee Schedule section of this Agreement. There are also fees for converting your U.S. dollars into the Foreign Currency, and for converting the Foreign Currency back into U.S. dollars.
ELECTRONIC BANKING SERVICES The following terms and conditions apply to all electronic banking services to or from consumer deposit accounts that are governed by the Electronic Fund Transfer Act and Regulation E. Consumer accounts are those opened primarily for personal, family or household purposes. These services generally include transfers made using your Union Bank ATM Card (“ATM Card”) or Union Bank MasterCard® Debit Card (“Debit Card”), Telephone Banking Bill Pay, ACH or online banking.
accounts to a savings ATM Card. There may be limitations on the number and types of transfers from some of these accounts. Refer to your specific account type for a description of any transfer limitations. ATM Card – An ATM Card is generally available to any customer who has a checking, savings or money market account and can be used at virtually all ATMs worldwide. If your ATM Card is linked to a checking account, you may make point-of-sale purchases at participating merchants. The amount of your purchase is subtracted from your designated primary checking account. Point-of-sale purchases cannot be made if your ATM Card is linked only to a savings or money market account. ATMs – With your ATM Card and PIN, you can conduct the following types of transactions at most ATMs: ●●
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Checks issued in connection with payment requests made using online banking or Telephone Banking Bill Pay Option, and checks used by a merchant or other payee to initiate a one-time or recurring transfer from your account, are also governed under this section. Union Bank may make new electronic banking services available. This section will also apply to any new services offered. Regulation E specifically excludes: ●● ●● ●● ●● ●● ●●
Checks Check guarantee or authorization Wire or other similar transfers Securities and commodities transfers Automatic transfers among your Union Bank accounts Telephone-initiated transfers initiated by a telephone communication between you and us that do not take place under a bill payment arrangement or other written plan.
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Generally, we do not charge you a fee when you access your Union Bank account at a Union Bank ATM. We will charge you a fee when you access your Union Bank account at a non-Union Bank ATM. If you use a non-Union Bank ATM, you may also be imposed a surcharge by the operator of that ATM. If you are assessed a surcharge, that fee will be disclosed on the ATM screen. When you use your ATM Card at a non-Union Bank ATM, you will have access to your designated primary checking, savings or money market accounts. At some locations outside of the United States, you may not be able to access your savings or money market account(s) or perform other select transactions. Union Bank ATMs – In addition, if you use a Union Bank ATM, you can generally: ●●
For purposes of electronic banking services, our Business Days are Monday through Friday, excluding federal holidays. Our cutoff time for same day processing is 11:30 p.m. (Pacific Time). Any transactions initiated after the cutoff time will be processed on the next Business Day.
Withdraw cash. Your withdrawals (or purchases at participating merchants) may be limited to the lesser of your daily ATM Card limit or your Available Balance. ATM Card limits are disclosed to you separately. Make balance inquiries. Transfer funds between your designated Union Bank primary checking, savings and money market accounts.
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Deposit currency or checks to any of your Union Bank accounts that are linked to your card. Deposits cannot be made at certain locations; such locations are clearly marked. Make payments to any Union Bank loan account. Print an ATM Mini-Statement (fee may apply). You may select: Last 10 Transactions — Lists the last 10 transactions posted to the account you select. Last 10 ATM or Debit Card Transactions — Lists the last 10 transactions made with the card. ●●
ATM Card and Debit Card Services The ATM Card or Debit Card is the property of Union Bank and is issued to you for use with your accounts. We reserve the right to discontinue the privileges associated with your ATM Card or Debit Card at any time without prior notice. If you no longer wish to use your ATM Card or Debit Card, notify us immediately and destroy any existing cards. For Union Bank transactions, you may link up to 9 accounts in addition to your primary checking account to your ATM Card or Debit Card. These 9 accounts may be checking, savings or money market. If you only have savings accounts, you may link up to 9 additional savings
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Transactions listed on Mini-Statements may or may not include unverified deposits. Our ATM service is available 7 days a week, 24 hours a day, although access and services may be limited at some locations and during certain time periods. Debit Card – A Debit Card has all the features of an ATM Card and can also be used for purchases everywhere MasterCard® Debit
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Cards are accepted. Your Debit Card must be activated before you can use it. Activation instructions will be mailed with the Debit Card. When using your Debit Card to make a purchase, a merchant may ask you to sign a receipt or enter your PIN. Some merchants may not require you to do either. You also may be asked to provide personal identification or other information from your card. If your Debit Card has a MasterCard PayPass™ symbol, you can authorize a “contactless” payment by moving your card close to the symbol, or by tapping the symbol lightly. If you make a purchase using your PayPass Debit Card at participating PayPass merchants, your signature may not be required.
Telephone Banking Telephone Banking automated services are available to you 24 hours a day, 7 days a week. For a Bank representative, you can contact us between 6:00 a.m. and 11:00 p.m. (Pacific Time), 7 days a week (except for Bank holidays). Automated services allow you to: ●● ●● ●● ●● ●●
All Debit Card purchases are deducted from your designated primary checking account. Debit Card purchases may be limited to the lesser of your Debit Card’s daily limit or your Available Balance. Your purchases may be limited to $350 if your balance cannot be verified. Merchants may charge a fee, which will be displayed separately and added to the purchase amount before the transaction is sent to us and deducted from your account. Debit Card customers who shop at participating Internet merchants will be required to enroll in the MasterCard SecureCode™ Program. This added feature will help protect your Debit Card from unauthorized Internet transactions. ATM Card or Debit Card Transaction Holds – When you use your ATM Card or Debit Card to pay for goods or services, certain merchants may ask us to authorize the transaction in advance. When we do, we commit to paying the merchant and may immediately place a temporary hold on your account for the amount requested by the merchant. Therefore, you should ensure that you have Available Funds in your account before making a transaction. Until the transaction finally settles or we determine that it is unlikely to be processed, the funds subject to the hold will not be available to you for other purposes. Occasionally, a merchant may incorrectly estimate the amount of a transaction or fail to notify us that a transaction has been cancelled. If you incur nonsufficient funds or overdraft charges as a result, please contact us. Transactions Outside of the U.S. – If you use your ATM Card or Debit Card to conduct a transaction in a currency other than U.S. dollars, the merchant, network or card association that processes the transaction may convert any related debit or credit into U.S. dollars in accordance with its then-current policies. MasterCard currently uses a conversion rate that is either a) selected from a range of rates available in the wholesale currency markets (this rate may be different from the rate that MasterCard receives); or b) the government-mandated rate. The conversion rate may be different from the rate in effect on the date of your transaction and the date it is posted to your account. A foreign purchase fee equal to 2% of the transaction amount (including credits and reversals) may be imposed for each transaction you conduct outside of the 50 United States, even if the transaction is conducted in U.S. dollars.
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Receive account information Transfer funds Place or release stop payments Order checks Request a change of address Activate your Debit Card Report or replace lost or stolen ATM or Debit Cards Change your card or Telephone Banking PIN Inquire about loan balances and obtain payoff information Order copies of checks, deposits and statements.
For services not listed above, you may speak to a Bank representative. If you mail us a request or have questions regarding Telephone Banking, contact us at: Union Bank, N.A. Telephone Banking, B01-806 P.O. Box 30700 Los Angeles, CA 90060-0700 If you send us a written request regarding a scheduled Telephone Banking transfer or bill pay request, it must reach us at least 3 Business Days before the transaction is scheduled. Cut-Off Time – Telephone Banking transfers or bill pay requests made before 11:30 p.m. (Pacific Time) on a Business Day will be processed on the same day. Any transfers or bill pay requests made after 11:30 p.m. (Pacific Time) or on a non-Business Day will be processed on the next Business Day. System Unavailability – Access to Telephone Banking may not be available at certain times for the following reasons: ●●
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Bank Holidays – Bank representatives may not be available on some bank holidays. System Maintenance – Scheduled system maintenance typically occurs between 2:00 a.m. and 4:00 a.m. (Pacific Time). There may be occasional periods of unscheduled system maintenance. System Outages – Due to major unforeseen events, such as earthquakes, computer failures or electrical outages.
We are not responsible for any liability you may incur as a result of the unavailability of Telephone Banking. Telephone Banking Access – You may use either your account number or an access number (usually the last 8 digits of your ATM Card or Debit Card) followed by your 4-digit PIN in order to access automated services. Access to Telephone Banking is limited to an individual based on a PIN.
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Telephone Transfers – You may request telephone transfers to or from your Union Bank accounts at any time. You may set up recurring transfers from any of your owned Union Bank accounts. You may also make transfers to or from your owned accounts at other financial institutions. If funds are available in the account being transferred from, the funds may be made available immediately. Telephone transfers can be made from one account to another where the caller is an Owner and/or Authorized Signer on both accounts. If you have special needs to transfer funds to a third-party bank account or between accounts with different signature requirements, you will be required to execute the Bank’s Funds Transfer Authorization form. Our understanding of the transfer instructions and our records shall be conclusive evidence of the actual instructions given. Telephone Banking Bill Pay Option – The Telephone Banking Bill Pay Option is available 7 days a week, 24 hours a day. You may use the option to: ●●
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Make one-time payments to businesses, merchants or your Union Bank loan accounts, or set up recurring payments Make transfers to or from your Union Bank accounts, or set up recurring transfers Make transfers to or from accounts at other financial institutions.
There may be a fee associated with the use of this service. See Fee Schedule at the end of this Agreement. Timing of Bill Pay Requests – To allow time for the payee to receive your payment, we must receive your request at least 5 Business Days prior to the day you want a payee to receive payment or, in the case of recurring payments, the payment date must be 5 Business Days prior to the due date. You can schedule a payment up to 364 days in advance. Canceling Bill Pay Requests – Telephone Banking-initiated payments or transfers can be cancelled at any time on the Business Day the transaction is scheduled to take place.
Electronic Fund 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 a one-time occurrence or may recur. These transfers may use the Automated Clearinghouse or other payments networks. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant posts a sign informing you of its policy. In all cases, the transaction will require you to provide the third party with your account information. The merchant does not need your written consent. Examples of these transfers include: 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 funds transfer to collect a charge in the event a check is returned for insufficient funds.
Automated Clearing House (ACH) Services ACH is a method of processing electronic Items transactions to and from your bank accounts. There should be a written agreement between you and the company you authorize to debit or credit your account. ACH Provisional Payment – When we give you credit for an ACH credit entry, it is provisional until we receive final settlement for the entry through a Federal Reserve Bank, the Electronic Payments Network or otherwise. If we do not receive a final settlement, we are entitled to a refund for the amount credited to you, and the person who sent the credit is considered not to have paid you. Preauthorized Transfers Preauthorized Credits – You can arrange for direct deposits to your checking or savings account(s). You can call us to find out if the deposit or transfer has been made. You will not receive a separate deposit receipt or notice from us.
Online Banking Our online banking service allows you to transfer funds via the Internet, as follows: ●●
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Transfer funds between accounts and set up recurring transfers between accounts Transfer funds between your Union Bank account and an account at another financial institution Make payments on certain Union Bank lines of credit, mortgages or loans Pay bills to merchants, institutions or individuals with a U.S. address Pay your Union Bank credit card bill.
Some services may also be available through a wireless device. Access to online banking is free. Use of our online banking service is governed by Union Bank’s Online Banking Agreement, which is part of this Agreement, and which includes details of additional available online services.
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Preauthorized Payments – You can arrange to pay certain recurring bills from your checking or savings account(s). If these recurring payments may vary in amount, the payee will tell you 10 days in advance the amount and date of the payment. You acknowledge and agree that an ACH transaction may be posted by the account number, even if the name and account number are not consistent and identify different parties.
Limitation on Transfers ●●
We may limit the amount of cash withdrawals or point-of-sale purchases made with your ATM Card or Debit Card to the lesser of your daily ATM Card or Debit Card limit or your Available Balance. ATM Card and Debit Card limits are disclosed to you separately.
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Transfers or payments from savings or money market accounts are limited to 6 preauthorized transfers per month or monthly statement cycle. Refer to your specific account type for a description of limitations. Online funds transfers are limited to the amounts described below. We may change these limits from time to time. Current applicable transfer limits are posted within the online banking service. Online funds transfers between a Union Bank account activated in our online banking service to an external account that you own and that we have verified are limited. The initial transfer is limited to $2,000. Thereafter, funds transfers are limited to $2,000 daily, $6,000 in outstanding transfers and $10,000 monthly. You may become eligible for higher transfer limits if none of your transactions fail and more than 60 days have elapsed since a successful completion of an inbound funds transfer between $1,000 and $2,000. Online funds transfers from a Union Bank account activated in our online banking service to an external account that you do not own or that we have not verified are limited to a total daily limit of $5,000. Online funds transfers from a Union Bank account activated in our online banking service to a Union Bank account that you do not own are limited to a total daily limit of $5,000. The aggregate dollar amount of funds transfers by means of our Telephone Banking service or online banking service to other financial institutions may not exceed a cumulative total of $5,000 per Business Day. The aggregate dollar amount of funds transfers by means of our Telephone Banking service or online banking service to accounts you do not own at Union Bank may not exceed a cumulative total of $5,000 per Business Day. For security reasons, we may limit the number or amount of transactions at our terminals or point-of-sale locations, or through our online, Telephone Banking or other electronic service. We may delay or reject an electronic payment or transfer if we suspect that you did not authorize it.
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The Bank will not be responsible for any liability or fees you may incur if we receive transfer instructions that exceed the above limitations.
Third-Party Disclosures
Point-of-Sale Transactions – You will usually be issued a receipt when making a purchase using your ATM Card or Debit Card. For smaller purchase transactions, you may not be issued a receipt automatically; however, you may request one. If you want a receipt and the merchant is unable to provide one, you may cancel your transaction. 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 or check your account online (if enrolled) to find out whether or not the deposit has been made. We are not required to give you separate notice of any such transactions. Periodic Statements – You will get a monthly account statement, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly. Electronic Check Conversions – After a merchant scans a check you use for an electronic check conversion, the merchant should mark the check “void” and return it to you.
Notice of Varying Amounts If recurring payments from your checking or savings account(s) may vary in amount, the payee will tell you 10 days in advance the amount and date of the payment.
Lost or Stolen Card or Unauthorized Transaction Notify us immediately if your ATM Card, Debit Card, PIN or other access code has been lost or stolen or used without your permission. 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. Refer to the Communication section at the beginning of this Agreement for information about how to contact us.
Debit Card Used as a MasterCard® If you believe your Debit Card has been lost or stolen and you notify the Bank within 2 Business Days after you learn of the loss or theft, you are not liable for the transaction(s) if someone used your Debit Card as a MasterCard without your permission. If someone used your Debit Card without your permission, but only as an ATM Card —that is, NOT as a MasterCard —then the liability provisions set forth below apply.
We will disclose information to third parties about your account or the transfers you make 1) when it is necessary for completing transfers; 2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; 3) in order to comply with government agency or court orders; or 4) if you give us your written permission. You may contact us for a printed copy of our Privacy Policy or visit unionbank.com.
In Case of Errors or Questions about Your Electronic Transfers
Documentation of Transfers
We will need all of the following information:
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ATM Transactions – You will generally be issued a receipt when you use an ATM. At some ATMs, you will be given the choice of having a receipt printed. If a receipt is unavailable, you will be notified prior to completing your transaction and will be given the option to cancel it.
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Telephone or write us as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. Refer to the Communication section at the beginning of this Agreement for information about how to contact us.
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Your name Account number Date, type and dollar amount of the transaction or suspected error Your ATM Card or Debit Card number, if applicable
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Description of the problem A clear explanation of why you think there is an error or why you need more information about the transaction.
We must hear from you no later than 60 days after we mailed, delivered or otherwise made available to you the first statement on which the error or problem appeared. If you notify us by phone or in person, we may require that you send us your complaint or question in writing within 10 Business Days.
us or visiting our website. Refer to the Communication section at the beginning of this Agreement for information about how to contact us. We must receive your request to cancel such a payment at least 3 Business Days before the date the payment is scheduled to be made. We must have all of the following information before we can cancel your payment request: ●● ●● ●●
Here is what we will do:
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We will determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, we may take up to 45 calendar days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 Business Days for transactions you think are in error. You will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint in writing and we do not receive it within 10 Business Days, we may not credit your account. If the error or problem concerns a new account, point-of-sale or foreign-initiated transaction, then the applicable time period is 90 calendar days instead of 45. New accounts may take up to 20 Business Days to credit. If we determine there was no error, we will send you a written explanation within 3 Business Days after we complete our investigation. If your account was previously credited, your account will be debited upon completion of our investigation. You may ask for copies of the documents we used in our investigation.
These procedures do not apply to disputes with a merchant about goods or services you purchased using your ATM Card, Debit Card, electronic check or other electronic transaction. You must settle the dispute directly with the merchant.
Electronic Transaction Cancellations 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 us or write us in time for us to receive your request 3 Business Days or more before your payment is scheduled to be made. Refer to the Communication section at the beginning of this Agreement for information about how to contact us. 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 will charge you a fee for each stop payment you give. This section does not apply to stop payment orders for checks. Refer to the Stop Payments section of this Agreement.
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Your account number The exact amount of the ACH transaction The payee or company initiating the ACH transaction The reason for canceling payment The check number (applicable only for check entries that are collected electronically via the ACH).
You may cancel an ACH payment under the following circumstances: ●●
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Canceling One Authorized Payment – Contact us if you would like to cancel only the next ACH transaction from a company, but still want all future transactions to be charged to your account. The cancellation request will be automatically removed after the next ACH transaction from the company is returned. Canceling Authorized Recurring Payments – Contact us if you previously authorized a company to debit your account but have now revoked that authorization. We may require you to complete any necessary forms within 14 days, including a written statement under penalty of perjury. This cancellation is valid for one year from the date placed. If your account is still debited, contact us to file a Claim of Error. Canceling an Unauthorized or Erroneous ACH Payment – Contact us if you have received an unauthorized or erroneous ACH debit entry and want to prevent any future debits from posting to the account. We may require you to complete any necessary forms, including a written statement under penalty of perjury. This cancellation is valid for one year from the date placed. If your account continues to be debited, contact us again.
We may require you to give us a copy of your written instructions to the company, revoking its authority to debit your account. If you do not provide the copy within 14 days after you contact us, we will block the company from debiting your account for the 14-day period, but we may honor any debits the company may send us thereafter. We are not responsible for any liability you may incur as a result of your failure to timely provide the requested documentation and our subsequent honoring of previously authorized payments.
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.
Canceling a Recurring Debit Authorized with a Debit Card – If you wish to cancel a recurring debit you authorized with a Debit Card, we may ask that you first contact the payee (the merchant or other creditor to whom the payments are made) and cancel the authorization before your account is debited. If you have attempted to cancel the authorization in a timely manner and your account has already been debited, contact us to make a claim for a refund from the payee.
Canceling Preauthorized Debits/ACH – If you have authorized a company (or us) to charge your account electronically to make one or more payments, you can cancel the payment(s) by contacting
Canceling Bill Payments – Bill Payments you request through online banking or Telephone Banking may be cancelled in a timely manner. You must cancel a bill payment request before we process it.
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Once processed, a transaction cannot be cancelled. Refer to the Communication section at the front of this booklet for information about how to contact us.
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The information supplied by you or a third party is incorrect or untimely We suspect that you did not authorize it.
There may be other exceptions stated in our agreement with you.
Your Liability for Unauthorized Electronic Funds Transfers
Transactions Not Subject to Electronic Fund Transfer Act or Regulation E
By giving your ATM Card, Debit Card, PIN, or other access code to another person, you take responsibility for all transactions made by that person or by anyone else to whom that person gives the ATM Card, Debit Card, PIN or other access code, directly or indirectly, until you notify us to cancel your card and issue a new card, or cancel your electronic service.
Certain ACH transactions made to or from your personal deposit account, such as electronic payments to purchase securities, are not subject to the Electronic Fund Transfer Act or Regulation E or to the error resolution provisions set forth in this Agreement. However, such transactions remain subject to the Uniform Commercial Code and to the remaining provisions of this Agreement. We are not responsible for any losses arising from or in connection with ACH transactions not subject to the Electronic Fund Transfer Act or Regulation E, unless such losses result solely from our negligence or intentional misconduct, or applicable law states otherwise.
If your statement shows unauthorized transfers, or if you believe your receipt is wrong, tell us immediately. Tell us at once if you believe your card, PIN or access code has been lost or stolen, or if you believe an electronic funds transfer has been made without your permission. You could lose all of the money in your account plus your maximum overdraft line of credit, except as set forth below. If you tell us within 2 Business Days after you learn of the loss or theft of your card, PIN or access code, you can lose no more than $50 if someone uses it without your permission. If you do not tell us within 2 Business Days after you learn of the loss or unauthorized use of your ATM Card, Debit Card, PIN or access code, and we can prove that we could have stopped someone from using your card or code without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers, withdrawals, purchases or other transactions that you did not make, notify us at once. If you do not notify us within 60 days after the statement was mailed, delivered or otherwise made available to you, 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 periods.
Our Liability for Failure to Complete Electronic Funds Transfers If we do not complete a transfer to or from your consumer account on time or in the correct amount, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable if: ●●
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Due to no fault of ours, you do not have enough money in your account to make a transfer A legal order directs us to prohibit withdrawals from an account Your account is closed The ATM where you are making the transfer does not have enough cash The ATM was not working properly and you knew about the breakdown when you started the transfer The transfer would cause you to exceed your line of credit limit, or other overdraft protection Circumstances beyond our control (such as fire, flood or power failure) prevent the transaction from being processed and reasonable precautions were taken
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You must notify us at once of any unauthorized or erroneous electronic transactions not subject to the Electronic Fund Transfer Act or Regulation E shown on your statement or a notice. Your notice must be in writing, must include a statement of the relevant facts and must reach us no later than 60 days after the date of the statement or notice on which the erroneous transaction appears.
WIRE TRANSFERS Funds transfers by wire are governed by the Uniform Commercial Code and are not subject to the Electronic Fund Transfer Act or Regulation E. The following rules also apply to wire transfers that you send or receive.
General Bank Fees – You agree that the Bank may charge fees for sending or receiving a funds transfer. You acknowledge and agree that we may deduct fees from your account or from the amount of the transfer. You further acknowledge and agree that intermediary banks may deduct their fees from the amount of the transfer that they process, whether an outgoing or incoming transfer, and that a portion of such fees may be shared with us. You authorize the Bank and such intermediary banks to deduct such fees, and you further authorize the Bank to share in those fees with such intermediary banks. Notice of Wire Transfers – We will notify you of all wire activity to your account on your periodic account statement. You may choose to make special arrangements with us to receive earlier notice of wire transfer activity on your account. We may charge you a fee for such early notice of wire activity. Identification of Intermediary or Beneficiary’s Bank – If your wire transfer order identifies an intermediary bank or a beneficiary’s bank by both name and identifying number, Union Bank and other banks may rely on the identifying number regardless of whether the bank name and identifying number refer to different entities. We may select any intermediary bank, funds transfer system or means of transmittal to send your payment order. We will not be responsible
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for any liability you may incur as a result of our selection that differs from your instructions.
Incoming Wire Transfers Provisional Payment – When we give you credit for a wire transfer credit entry, it is provisional until we receive final settlement for the entry through a Federal Reserve Bank or otherwise. If we do not receive a final settlement, we are entitled to a refund for the amount credited to you, and the person who sent the credit is considered not to have paid you.
Outgoing Wire Transfers Cutoff Time for Payment Orders – We have different cutoff times for processing payment orders. We may treat payment orders we receive after the cutoff time as if received the next day. Amending or Canceling Payment Orders – If you request that we amend or cancel a payment order, we may make a reasonable effort to act on your request; however, we have no obligation to do so. We are not liable to you if, for any reason, a payment order is not amended or cancelled. If we choose to process your request, you agree to reimburse the Bank for any cost, losses or damages that we incur in connection with your request to amend or cancel a payment order. Inconsistent Name and Account Number – If you designate the beneficiary of a wire transfer by both name and account number, the payment may be made according to the account number even if the name and account number are not consistent and identify different parties. Sending Funds Outside the United States – If you request that U.S. dollars be sent to a foreign country, payment may instead be made in the currency of the foreign country. Funds transfers may also be made from your Foreign Currency Demand Account.
Our Liability Concerning Wire Transfers Wire transfers are not subject to the Electronic Fund Transfer Act or Regulation E or to the error resolution provisions set forth above in this Agreement. However, such transactions remain subject to the Uniform Commercial Code and to the remaining provisions of this Agreement. We are not responsible for any losses arising from or in connection with wire transfers unless such losses result solely from our negligence or intentional misconduct, or applicable law states otherwise.
Your Responsibility Concerning Wire Transfers You agree that you are responsible for monitoring and reviewing the activity on your account. We recommend that you inspect your statements on a regular basis to look for improper or unauthorized transactions or any other irregularities, and to ensure that your accounts are being handled in a proper manner.
for information about how to contact us. If your statement includes or discloses an improper or unauthorized transaction, you must notify us in writing, stating relevant facts, within 60 days after we mail, deliver or otherwise make the statement available to you. If you do not, we are not responsible for any liability you may incur as a result of any loss of interest arising from the unauthorized or erroneous funds transfer. In addition, if you do not report an unauthorized or improper wire transaction within 6 months from the time the statement is mailed, delivered or made available to you, the account balance indicated on your statement will be considered correct, and we will have no further responsibility or liability to you with respect to such statement and the transactions reflected therein.
SAFE DEPOSIT SERVICE Certain branches offer safe deposit box services. Your use of these services is governed by the Safe Deposit Box Renter Agreement (the “Safe Box Agreement”). Box size and availability may vary by location. There may be a fee associated with this service. We rent safe deposit boxes only to customers who maintain a deposit account with us.
Access You, your Authorized Signer, or any other renter you designate in the Safe Box Agreement or otherwise authorized by law (collectively the “Renter”) may have access to the box upon acceptable identification. Access to safe deposit boxes is controlled and requires accompaniment by a Bank employee. For security purposes, boxes are equipped with two independent locks —one that requires a key you keep in your possession and one that requires the Bank’s key. You agree not to duplicate any key. The Bank may refuse to allow more than 2 persons to enter the safe deposit vault at any one time, and may refuse to allow any person to remain in the vault area longer than is reasonably necessary for opening or closing the box. The Bank may require the Renter to carry the box to a private room or desk located outside the vault. The box may not be removed from the Bank’s premises. Death of a Renter – If you or any co-Renter dies, becomes bankrupt or is incapacitated, we may permit access to the box as required by law. Upon death of one or more co-Renters, any surviving co-Renter or person establishing entitlement under law may access the box to the extent permitted by law. Adverse Claims – If we receive conflicting claims or demands regarding access to the box, we may refuse further access until we receive evidence, satisfactory to us in our sole discretion, of each claimant’s right to access the box. Legal Process – You agree that we are authorized to comply with any legal process that we, in good faith, believe is valid. Fees may apply.
Storage of Prohibited Property
Reporting Errors – You must contact us immediately if you think there is an error or an unauthorized transaction shown on your statement or notice. Refer to the Communication section at the front of this booklet
The box may not be used for the storage of any liquids, gas, controlled substances, weapons, property of an explosive, dangerous, or offensive nature, or property the possession of which would be a violation of law (“Prohibited Property”). If you store, or we have reason
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to believe that such Prohibited Property is stored in your box, we may, without notice to you, forcibly access, remove and inventory the contents of the box and turn the Prohibited Property over to the police or other legal authorities or permit those authorities to inspect any Items stored in your box. The inventory shall be deemed conclusive evidence of the contents of the box. The Bank shall further have the right to disclose the name, address and other identifying information of the Renter to the appropriate authority as it deems necessary under the circumstances, unless otherwise prohibited by law.
Safe Deposit Box Fees The box is rented for a one-year period payable in advance through an automatic charge to your deposit account. Invoiced payment may be requested. The annual rental is determined by box size. If a payment is due, an automatic charge notice or invoice is sent approximately 30 days prior to the payment due date. Any increase in rental fees is included in the notice or invoice. If payment is delinquent, we may charge a fee and refuse access to the box until the overdue rent and fees are paid. Other fees may apply.
Union Bank’s Responsibility The Bank will exercise ordinary care to prevent access by any unauthorized person. In the event of any loss or damage to the box or its contents, the Bank will not be liable for any indirect, consequential or incidental damages, nor for any loss or damage caused directly or indirectly, in whole or in part, by: ●●
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The Renter’s failure to abide by the terms of this Agreement or the Safe Box Agreement Accidents, fires, flood or water damage including, but not limited to, failure of fire suppression systems, burglary, civil unrest, war, acts of God or any cause beyond the Bank’s reasonable control
In the event of any loss or damage for which the Bank is liable, the Bank reserves the right to: ●●
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Pay the Renter the face value or fair market value of any Items as of the date of the loss, or Replace the Items
Items you store in your box are not insured by the FDIC or us.
Lost Keys The Renter agrees to notify the Bank immediately if any key is lost or stolen. The Renter agrees to reimburse the Bank for any expense incurred in replacing lost keys or forcing open the box.
Termination or Amendment We reserve the right to change or cancel our Safe Box Agreement with you at any time for any reason by providing you written notice. The Renter may request to change box size at any time, subject to box availability. Applicable fees may change accordingly. The Renter may cancel the Safe Deposit Box Agreement at any time by notifying us in writing. The Renter will not be entitled to any prepaid rent if the box rental is cancelled or transferred prior to expiration of the rental term.
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If the Bank or Renter cancels the Safe Box Agreement, the Renter must remove all box contents and return all keys in person. If the Renter does not empty the box, the Bank has the right to forcibly remove the contents and dispose of them through the Bank’s unclaimed property process. The Renter agrees to pay for any damage or cost incurred by the Bank to force open the box due to the Renter’s failure to pay rent, empty the box or return keys at termination.
Escheat We will notify you at your last address of record if your box remains in a delinquent payment status or your agreement with us is terminated. Thereafter, your box will be forcibly accessed and all of your contents will be removed, inventoried and stored at our vault until claimed by you or turned over to the applicable state within the designated timeframe as required by law, whichever occurs first.
Relocation of Box If the branch where a box is maintained is closed or consolidated with another branch, we have the right to transfer the box, including contents, to another location.
GENERAL BANKING INFORMATION Account Ownership Your account ownership type may determine how property passes on your death. You should consult with your professional tax, estate or legal advisor to find out which account ownership is right for you. We offer the following account types: Individual – You, as an individual, are the only Owner of the account. Upon death, the funds will be part of the individual’s estate and will pass according to the individual’s estate plan or, if none, per state law. Joint Tenancy – All Owners of the account have an interest in the account during their lifetimes. Upon death of one of the Owners, the ownership of the account and all the funds in the account pass immediately and automatically to the surviving Owners. Accounts designated as “Joint” or “Joint Tenants” with no further designation will be considered “Joint Tenants with right of survivorship.” Community Property – The Owners, who must be husband and wife, have an equal interest in the account, which is subject to the same rules as all community property. Unlike the joint tenancy account, ownership of a community property account does not automatically pass to the survivor when one of the Owners dies, since a part of the community property may be subject to the will of the deceased spouse. Tenancy in Common – All Owners have an interest in the account during their lifetimes. Unlike a joint tenancy account, when one of the Owners dies, his or her share does not pass automatically to the other Owners. Fiduciary Account – A fiduciary account is an account opened by or taken over by an administrator, executor, guardian, conservator, personal representative, trustee or other fiduciary in such capacity. Any fiduciary named as a signer shall be solely responsible for acting
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in accordance with the terms of the applicable laws, will, court order or trust instrument establishing and covering the fiduciary relationship. We are not responsible for any liability you may incur as a result of any action by the fiduciary. ●●
California Uniform Transfers to Minors Act/Uniform Transfers to Minors Act – This account may be opened by a person who will hold money as a custodian for a minor. The account is controlled by the custodian, but it is owned by the minor.
Other fiduciary account options are also available. Trust Account ●●
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Informal Trust (Totten Trust) – These accounts may be opened in an individual’s name as trustee or jointly with other trustees of the trust. The balance in the account may be paid to any or all of the trustees during the lifetime of the trustee or trustees. When the last trustee dies, the balance in the account is paid to the named beneficiary, or his or her heirs, executors or administrators, provided that the named beneficiary survives the last trustee. Until the last trustee dies, the Bank treats the account for all purposes as though the trustee or trustees administer(s) it. Formal Trust – A formal or inter vivos (living) trust can be revocable or irrevocable and is created while the trustor(s) is alive. The trustor(s) is the individual who transfers his or her property to the trust. The terms of a trust are set forth in a written trust agreement separate from the Bank’s signature card. The written trust agreement formally transfers legal title to, property from the trustors to the trust. The trustee(s) administers the trust and has a fiduciary obligation to manage the property pursuant to the terms of the trust agreement. There can be one or multiple trustees. In addition, the trustor and trustee can be the same person.
Adjustments and Corrections You agree that we may make adjustments and/or corrections to your account from time to time resulting in changes to your account balance, rates or fees. Adjustments may occur if transactions are recorded in the wrong amount, wrong account, posting is delayed or Items are returned unpaid. Also if Items are lost, stolen or destroyed during the collection process, you agree we have the right to adjust your account. Corrections may occur, if deposited Items do not balance to the total listed on your deposit slip. You also agree that we may, in our sole discretion, ignore an error in the amount of your deposit that is less than or equal to $5.
Amendments We may change (add to, delete or alter) the terms of this Agreement at any time without notice to you, unless advance notice is required by law. After you have received notice as required by applicable law, you agree to these changes by not closing your accounts or by continuing to use a service. You can obtain the most current version of this Agreement by contacting us or visiting unionbank.com.
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Change of Personal Information You agree to notify us promptly of any change in your name, physical address, mailing address, email address or Authorized Signers on your account. To change your information, please contact us.
Check Cashing for Non-Customers We generally permit the payee of a check you write on your Union Bank account to present the check for payment at any of our fullservice branches. This does not include limited-service facilities, offices that are not open to both consumers and businesses, or where otherwise posted. It also does not apply to Items that require special processing or presentment at a specific location, such as “payable at” checks. We may require a payee who is not a Union Bank depositor to provide additional information, including fingerprints and identification satisfactory to us. You agree that we may charge a fee to a non-Union Bank depositor to cash a check that you have written. The fee will be charged to the person cashing your check. We may require a signature or endorsement guarantee from another financial institution before we will cash a check drawn on your account when presented for payment by someone who is not our customer. We are not responsible for any liability that you may incur as a result of our refusal to cash a check for non-customers.
Check Quality You agree to use only checks and deposit slips obtained through us or, if obtained elsewhere, approved by us in advance. If your checks or deposit slips do not meet our processing standards, or if we encounter excessive rejects during processing, we may ask you to have your checks reprinted at your expense. After attempting to fix the problem with your checks or deposit slips, and if the problem persists, we reserve the right to charge your account for extra handling. We will not be responsible for any costs or losses that may result if our equipment is not able to read and process checks you provide or obtain elsewhere without our prior approval. You may not use check stock that cannot be photocopied. Additional charges may apply for checks and/or deposit slips rejecting from machine processing. You may be charged a fee for 1) Items with a non-standard Magnetic Ink Character Recognition (MICR) line; 2) Items with an obsolete account number or routing number; 3) the greater of 3 Items or 2% of all Items presented in a monthly statement period that reject due to poor quality printing; and 4) Items drawn with an ink color that cannot be processed by automated imaging equipment. Our liability in matters resulting from incorrectly printed checks you have obtained through us is limited to the cost of replacing the checks. We are not responsible for any liability you may incur as a result of any losses or delayed processing due to incorrectly printed checks or deposit slips.
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All checks issued or deposited should be written in dark ink colors that can be recognized by imaging equipment. We reserve the right to return or charge back any checks you issue or deposit if the information on the check cannot be read. We are not responsible for any liability you may incur as a result of our returning an Item to you due to our inability to process a check when the ink color cannot be recognized. Several factors influence the image quality of an Item, such as a check’s background design, the physical condition of an Item or the ink color used on a check. The image quality of an Item is also dependent upon the imaging capabilities of any bank that participated in the clearing of the Item. In rare instances, Items may not be available for viewing. In such cases, please contact us for assistance.
Checks Payable to a Business or Trust All checks payable to a business must be processed by depositing to the business account. Checks payable to an individual’s name in his or her professional capacity (e.g., John Smith, MD, or Jane Doe, CPA) must be deposited to a like-named business account. Similarly, checks payable to a trustee of a trust must be deposited to the appropriate trust account. Checks drawn on the Bank payable to a non-client business may, at the discretion of the Bank, only be negotiated in exchange for a Cashier’s Check payable to that exact business name. Prior to negotiation, the business entity must have the endorsement guaranteed on that check by its financial institution. We may charge a fee for this service, which may be deducted from the proceeds of the check.
Checks Sent for Collection You may ask us to send a check or Item on a collection basis for you to another bank. Also, for certain checks that you may deposit, we may not use normal check-clearing procedures. These checks include previously dishonored checks, checks with restrictive endorsements, or those drawn in a foreign currency or on a foreign bank. In these cases, we may send the check to the financial institution on which it is drawn for collection or return it to you. If we receive payment for the check, we will credit your account with the amount received on the date we receive payment, less any applicable fees. Both Union Bank and the other financial institution may charge a fee for this service, which may be taken directly from your account or from the proceeds of the Item. Some banks require the fee to accompany the collection request, and will return the collection Item without taking any action if the fee is not included. We will charge your account for the payor bank’s fee, unless we otherwise agree. Our fee and any payor bank fee apply even if the collection is returned unpaid. When a check you issued is sent to us for collection, we may charge the presenting bank a fee. If we pay the collection, we may pay the presenting bank the amount of the check, less the amount of our fee. The fee we charge the presenting bank is in addition to other fees we charge for handling collections.
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Checks with Restrictive Language or Notations or Duplicate Check Numbers We will not honor notations or restrictions written on checks you issue, such as “void after 90 days,” “paid in full” or “not valid for over $500.” Such notations and restrictions have no effect and are for your individual purposes only. We are not responsible for any liability you may incur as a result of such notations or restrictions. If a check drawn on your account bears the same check number as another check previously presented to us, we may return it unpaid.
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 any reasonable information we require concerning your account, the transaction(s) and the circumstances surrounding the loss. You also agree to file a police report if we request you to do so. You agree that we have a reasonable period of time to investigate the facts and circumstances surrounding any claimed loss and that we have no obligation to provisionally credit your account. Our maximum liability is the lesser of your actual damages proved or the amount of the forgery, alteration or other unauthorized withdrawal reduced by an amount that could not have been realized by 1) your use of ordinary care; 2) your failure to comply with the requirements of this Agreement; and 3) any proceeds from any insurance carrier or other third party that you receive or are entitled to receive. In no event will we be liable for special or consequential damages, including loss of profits and/or opportunity, or for attorneys’ fees incurred by you. Different liability rules apply for certain transactions governed under the Electronic Fund Transfer Act or Regulation E. You will pursue all rights you may have under any insurance coverage you maintain before making a claim against us and to provide us with all reasonable information about your coverage, including your insurance carrier, policy number, policy limits and applicable deductibles. If we repay you for the loss before you receive compensation, you agree to assign to us your rights under your insurance policy.
Closing an Account We may close your account, stop providing service to you or terminate our contract for any reason unless the specific terms of your account or service state otherwise. We may close your account if you have a zero or negative account balance for more than 45 days. Your account may also be closed for nonsufficient funds, overdrafts or other unsatisfactory account activity. A report may be made to a consumer reporting agency in these cases. If we close your account, we will send any remaining funds in your account to your last address as shown on our records. If you decide to close your account, your account may be subject to prorated service charges for the partial period of service between the last statement cycle date and the date of account closure. These fees
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include the monthly maintenance fees and any monthly discounts or additional service charges. Specific services and per-Item charges will be assessed in full. If you or we decide to close your account and you have recurring payments deposited directly to or withdrawn from your account, notify the company or government agency making the payments or transfers that your account will be closed. If you do not notify us of your intention to close your account, a pre authorized electronic transfer could be posted to the account. After your account is closed, we will return any payments or transfers we receive. Items presented for payment after account closure may be returned with the notation “Account Closed.” We are not responsible for any liability you may incur as a result of a dishonored Item presented for payment.
Communication with You By opening or maintaining an account with us, you give us and our authorized representatives your express consent to contact you by mail, courier, telephone—whether cellular (mobile) phone or landline— or electronically by email or through our online banking service. You agree that we may communicate with you about any aspect of your banking relationship with us including, without limitation, debts or other obligations that may arise from time to time under this Agreement. You expressly consent to the use of prerecorded messages, artificial voices and/or autodialed calls when we contact you by telephone. You agree that we may send any notice, record or other information about your account, such as account disclosures, change-in-terms notices, privacy disclosures, fee schedules or transaction notices and alerts, to you at the last address on file for your account or with any periodic statement we send. You also agree that we may communicate amendments to this Agreement by delivering or mailing you a notice or an amended Agreement. We may deliver such notices, account information or amendments electronically if you have agreed to communicate with the Bank electronically. Information or notices sent to any account Owner shall be deemed sent to and received by all account Owners.
Compliance with Laws and Regulations When you do business with us, you agree to all applicable laws, regulations or ordinances, and orders of governmental and governing authorities, including federal and state privacy laws and anti-money laundering laws. You agree not to use your account or our services for any unlawful purpose, including unlawful Internet gambling.
Conflicting Demands or Disputes If there is any uncertainty regarding the ownership of an account or its funds, there are conflicting demands over its ownership or control, we are unable to determine any person’s authority to give us instructions or we believe a transaction may be fraudulent or may violate any law, we may, at our sole discretion 1) freeze the account and refuse transactions until we receive written proof (in a form and substance satisfactory to us) of each person’s right and
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authority over the account and its funds; 2) refuse transactions and return checks, marked “Refer to Maker” (or similar language); 3) require the signatures of all Owners or Authorized Signers for the withdrawal of funds, the closing of an account or any change in the account regardless of the number of Owners or Authorized Signers on the account; 4) request instructions from a court of competent jurisdiction at your expense regarding the account or transaction; and/ or 5) continue to honor checks and other instructions given to us by persons who appear as Owners or Authorized Signers according to our records. The existence of the rights set forth above shall not impose an obligation on us to assert such rights or to deny a transaction.
Credit Verification You agree that we may obtain information, including credit information, from consumer reporting agencies when you request to open an account with us, agree to be a signer on an account, or when you obtain any other service from us, in order to verify your previous banking relationships and as a basis for account qualification. We may do so at the time you open the account, at any time while your account is open or after your account is closed if you owe us any amounts related to your account.
Customer Identification To help the government fight money laundering and the funding of terrorism, federal law requires all financial institutions to obtain, verify and record information that identifies each person or entity that opens an account, and to understand the anticipated activity of the account. What this means to you: When you open an account, we will ask for your name, street address, date of birth and other information that will allow us to identify you. We will ask for your tax identification number and also will ask to see your driver’s license or other identifying documents. We may further ask you for specific information regarding the nature of anticipated activity, the sources of your funds, the purposes of transactions, the relationship you have with persons to whom you send funds and persons who send funds to you, the anticipated frequency of such transactions, the ultimate beneficiaries of funds you send and receive, and other questions that may help us clarify the nature and purpose of transactions. We may, at our sole discretion, elect not to open an account or close any existing account, with or without cause. The Bank may, at its discretion, open additional accounts upon your telephone, written or online instructions. These accounts must be in the same title as previously established accounts you maintain. We may close accounts if we are unable to understand the purpose of the account, the structure of an organization, the authority of the signers, the documentation provided or the general risk associated with the establishment of the account. We may elect not to disclose the specific reason for our action.
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Transaction Information Requirements – When you conduct a transaction with us, we may ask you to identify yourself by various means, which may include using your ATM Card or Debit Card and PIN, or answering security questions. For the Bank to conduct certain financial transactions, we are required to obtain certain information about the individual conducting the transaction, as well as about the individual or organization for whom the transaction is being conducted. The information includes the full name, permanent address, Social Security number and/or Employer Identification Number, driver’s license or passport, or occupation or profession of the individual conducting the transaction. We also require the account Owner’s full name, permanent street address, Social Security number and/or Employer Identification Number, and business, occupation or profession. If this information is not provided, we are required to refuse to handle the transaction. Requests Not Made in Person – We will accept your transaction requests or instructions not made in person only if we can reasonably ensure your identity. We may use passwords, PINs, contact you by telephone or use other means to authenticate your identity and validate your request. Unless you have made special arrangements with us, we have no obligation to act upon instructions you give us via fax, text message, email or voicemail.
Death or Incompetence Notify us immediately if any Owner or Authorized Signer on your account dies or is declared incompetent by a court. Until you or a court gives us written notice of such death or incompetence, we may continue to honor checks, Items and instructions as though all Owners/Authorized Signers are alive and competent. We may also freeze, refuse and/or reverse deposits and transactions if we become aware of the death or incompetence of an Owner or an Authorized Signer.
Demand Drafts or Remotely Created Checks A demand draft or a remotely created check is an Item that does not bear your actual signature, but is drawn with your authorization. If you voluntarily give information about your account, such as our routing number and your account number, to someone and authorize them to draw against your account, we may, but are not obligated to, charge your account and pay such Item. You are responsible for any Items paid against your account, even if the Items are in excess of the amount you authorized. We may refuse to honor demand drafts without cause or prior notice, even if we have honored similar Items previously.
Deposits All deposits made to your account are subject to final verification, payment and adjustment by us even if we cash a check, give you immediate credit for a deposit or give you cash back from a deposit. We may place a hold on checks you deposit. You will be notified if a hold is placed on a check you deposited. During the hold period, these funds may not be withdrawn or used to pay checks or any other transactions on your account. We may refuse to accept any Item for deposit. If you deposit a check containing a retired (no longer in use) bank routing number, you will not receive credit for the Item and it will be returned to you unpaid. You must contact the maker of the check to obtain a replacement check bearing the new routing or account number. We act only as your collection agent when receiving Items for deposit or encashment. We reserve the right to reverse the credit for any deposited Item or charge your account for cashed Items should they become lost, mutilated or destroyed during processing. Whether or not we reverse a credit, you agree to assist us in collecting the amount of any lost Items by providing us with information and other assistance as we request.
Endorsements Each deposited check should be endorsed on the back of the check in the designated endorsement area. If the endorsement or any marking is made outside of the specified area, you may be liable for any processing delay or loss that may result. If you fail to endorse a check, we may collect it without an endorsement or supply the missing endorsement. We may also require that all endorsers be present (including those who may have endorsed the item to you), to provide information, and for anyone who is not a signer on the account, to have their endorsement guaranteed by that person’s bank. All payees should endorse checks that are jointly payable to the Owners of the account. However, we are also authorized to cash or accept for deposit to the account: ●● ●●
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Checks payable to all Owners but endorsed by only one Checks payable to one or more Owners but endorsed by another of the Owners Checks payable to one or more Owners without endorsement, in which case we are authorized to provide the endorsement for the Owner(s).
English Language Controlling
You agree that we are under no obligation to verify whether the name and account number shown on the demand draft are consistent with our records. You further agree that we may either pay the demand draft or refuse to honor it. You agree to provide us on request with a copy of any written agreement you may have with the third party initiating the draft.
You agree that English is the controlling language of this Agreement. In case of any disagreement between English and another language we may use to communicate with you, the English language version is controlling, unless we agree otherwise with you in writing, or the laws governing your account specifically require a different result. You agree that all written instructions you give us, for example, traditional paper checks, will be in English.
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You further agree that we may decline to process any check, draft or other instrument for the payment of money written in a language other than English, whether issued by you or another person. We are not responsible for any liability you may incur as a result of our failure to pay or return such Items.
Facsimile Signatures You agree to notify us in writing if you will be using a facsimile signature, whether made with a rubber stamp, a computer printer or otherwise, for any of your accounts. You also agree to assume full responsibility for Items we pay containing a facsimile signature, if the facsimile resembles the facsimile used by you or an Authorized Signer. You agree to indemnify and hold us harmless from any and all losses, claims, damages, liability, costs and expenses arising directly or indirectly out of the misuse, or the unlawful or unauthorized use, of a facsimile signature by any person.
Day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the 5th Business Day after the day of your deposit. The first $100 of your deposits, however, may be available on the 1st Business Day. If we are not going to make all of the funds from your deposit available on the 1st 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 Business 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. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: ●● ●●
FDIC Insurance
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Union Bank, N.A., is a member of the Federal Deposit Insurance Corporation (FDIC). Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and certain other retirement accounts, which will remain at $250,000 per depositor. For the most current information relating to insurance coverage, visit www.fdic.gov or call the FDIC at 1-877-275-3342. The FDIC is an independent agency of the United States government. When we give you information about products we offer that are not FDIC insured, you will be clearly informed of that fact before you make a purchase decision.
Funds Availability
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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. They will generally be available no later than the 9th Business Day after the day of your deposit. Special Rules for New Accounts – If you are a new customer, the following special rules may apply during the first 30 days your account is open: ●●
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Our general policy is to make funds from your cash and check deposits with us available to you on the 1st Business Day after the Business Day we receive your deposit. At that time, you can withdraw the funds in cash and we will use the funds to pay checks you have written. Electronic direct deposits will be available on the day we receive the deposit. For determining the availability of your deposits, every day is a Business Day, except Saturdays, Sundays and federal holidays. If you make your deposit in person at a branch during normal banking hours on a Business Day, that day is considered the day of your deposit. If we receive your deposit at one of our branches, night depositories or ATMs after our posted closing hour on any Business Day, or if you make your deposit on a day other than a Business Day, your deposit will be considered received on the next Business Day. This funds availability policy does not apply to checks drawn on banks located outside the United States. Longer Delays May Apply – In some cases, we will not make all of the funds that you deposit by check available to you on the 1st Business
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We believe a check you deposit will not be paid You deposit checks totaling more than $5,000 on any one day You redeposit a check that has been returned unpaid You have overdrawn your account repeatedly in the last 6 months There is an emergency, such as failure of computer or communications equipment.
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Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, travelers, and federal, state, and local government checks will be available on the 1st Business Day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the 9th 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 $5,000 will not be available until the 2nd Business Day after the day of your deposit. Funds from all other check deposits will be available no later than the 9th Business Day after the day of your deposit.
Governing Law Except as otherwise stated herein or required by law, the provisions of this Agreement are governed by, and interpreted according to, the laws of the state where your account is located and federal law.
Inactive Accounts and Unclaimed Property Accounts become inactive when there has been no transaction or positive contact with us for a certain period of time as follows:
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12 consecutive months for transaction (demand deposit) accounts 18 consecutive months for savings accounts 24 months after the first maturity date or date of last customer contact for time deposit accounts
Positive contact will prevent an account from becoming inactive. Types of positive contact include: ●●
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A deposit or withdrawal performed by you to the account. This does not include Bank-initiated transactions, such as service charges, interest payments or automated deposits and withdrawals. Correspondence electronically or in writing concerning the account A signed letter from you or the Authorized Signer(s) relating to the account’s disposition An indication from you of your interest in the account, such as contacting us to state your intention to maintain the account, or another record on file with us.
The inactive period begins on the date of last transaction, last positive contact with us or first maturity of a time deposit, whichever is latest. We may refuse to post any transactions to an inactive account unless we can confirm that you initiated the transaction. All inactive interestearning accounts continue to earn interest, except for time deposit accounts that do not automatically renew. Service charges for inactive accounts are the same as those for active accounts. Charges are not reimbursed for inactive accounts that are later reclassified as active. Also, we may change the delivery of account statements for inactive accounts. You may receive a written notice that your funds may be surrendered to a state due to inactivity. The requirement to send notice is based on the account balance and whether we have a valid address on file. The timing of the notice and minimum account balance for the notice vary by state. We will surrender the funds in your inactive account to the state of your last-known address on file at the Bank if the account remains inactive for the time period designated by that state. Accounts with a foreign address on file will be surrendered to the state of California. Once the account is turned over to the state, you may reclaim the funds by presenting adequate proof of ownership to the appropriate state.
Income Tax Reporting We are required by law to report to the Internal Revenue Service (IRS) interest paid or other payments made to you. For interestearning accounts in which interest is paid on a cycle of one year or less, we report interest in the calendar year in which the interest is paid. For time deposit accounts issued for a term of more than one year for which interest is paid on a cycle of greater than one year, we report interest annually for interest accrued in the current calendar year. A tax-reporting notice will be mailed to you for interest-earning accounts if the interest earned is $10 or more. If applicable, we will report to the IRS as interest any cash or non-cash bonus paid to you. For individual accounts with more than one Owner, we report taxpayer information for the person listed first in our records, unless you specify otherwise.
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Income Tax Withholding As a U.S. citizen or resident alien, you are required to provide and certify under penalty of perjury your correct taxpayer identification number (TIN) and backup withholding status at account opening. For individuals, the TIN is your social security number (SSN). We must receive your TIN even if your account does not earn interest or you do not file a tax return. Additionally, we may refuse to open, and we may close, any account for which you do not provide a certified TIN. The certification for your TIN and backup withholding status is part of the Bank-Depositor Agreement (or separate Form W-9) you complete, sign and certify at account opening. Resident aliens who do not qualify for a SSN, must provide their Individual Taxpayer Identification Number (ITIN). We must backup withhold taxes from each reportable payment made to you on any account at the rate specified by the Internal Revenue Service (IRS) if: ●● ●● ●●
You fail to provide us with the required certified information The IRS instructs us to withhold The IRS notifies you that you are subject to backup withholding.
If you are a nonresident alien individual or foreign entity, you are generally exempt from interest reporting and backup withholding as long as you provide a valid Form W-8 at account opening and recertify your status every 3 years, with some exceptions. If you provided an invalid W-8 or do not recertify your status within the required timeframe, your accounts will be placed on backup withholding at the rate specified by the IRS. If you become a U.S. citizen or resident after account opening, you must notify us within 30 days and provide us with your certified TIN.
International Transactions Union Bank offers foreign exchange services, including basic spot purchases, hedging strategies, wire payment services, Foreign Currency Demand Accounts (FCDA) and Foreign Currency Time Deposits (FCTD). Transactions processed in foreign currency denominations are subject to daily changes in exchange rate. When Union Bank converts a transaction, we may determine in our discretion the currency exchange rate and then assign that currency exchange rate to your transaction without notice to you. You agree to this procedure and accept our determination of the currency exchange rate. We may consider many factors in setting our currency exchange rates. Some of these factors are exchange rates set by others, our desired rates of return, market risk and credit risk. We are not responsible for any liability you may incur if our currency exchange rates are different from rates 1) offered or reported by third parties; 2) offered by us at a different time, at a different location or for a different transaction amount; or 3) that involve different payment media (such as bank notes, checks and wire transfers). You acknowledge that: ●●
Our currency exchange rates for retail and commercial transactions, and for transactions effected after our regular business hours or
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on weekends, are different (and usually less favorable to you) from the exchange rates for large interbank transactions effected during a Business Day (the rates reported in The Wall Street Journal or elsewhere are usually for large interbank transactions); Currency exchange rates offered by other dealers or shown at other sources (including online sources) may be different from our rates; and Currency exchange rates can be highly volatile and may change frequently during a day.
You assume all risks relating to or arising from fluctuations in the exchange rates between currencies. If for any reason the transfer is returned, you agree to accept the refund in United States dollars in the amount of the foreign currency credit, based on the current buying rate of the bank converting the currency to United States dollars on the date of refund, less any charges and expenses we incurred, and our commission for making the exchange. Additionally, foreign transactions are often subject to fees assessed by foreign banks and their correspondent banks, and they may be processed and returned based on local laws and practices. Union Bank has no control over those conditions, and you authorize Union Bank to process any resulting charges or credits to your account.
Multiple Signatures It is not our general policy to offer accounts on which 2 or more signatures are required to transact on your account. (For important exceptions, see below.) This means that you agree that an Authorized Signer, acting alone, may sign checks, withdraw or transfer funds, give us instructions regarding the account, close the account without notice to the Owner(s) or other Authorized Signer(s), or establish additional accounts in the same name or names that are subject to the same signature requirements. If you indicate on your signature card, on another account document or elsewhere that more than one signature is required for a transaction, this indication is for your own internal procedures and controls, but it is not binding on us unless we have expressly agreed in writing. Exceptions – We generally offer accounts on which more than one signature is required for transactions only under the following circumstances: ●●
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Large Cash Withdrawals For security purposes, we have the right to limit the amount of cash we will provide on demand at a branch. We may require reasonable advance notice for large cash withdrawals. You agree that we are not responsible for providing for your security in such transactions and that we may require that you make advance arrangements with a licensed armored carrier for such withdrawals. Generally, cash withdrawals greater than $50,000 are considered commercial transactions and will not be accommodated at a branch.
Legal Process We must comply with a notice of attachment, execution, garnishment, tax levy, injunction, restraining order, subpoena, warrant or other legal process we believe to be valid and applicable to your account. We may accept and comply with the legal process whether served in person, by mail, fax, electronic transmission or other means, at locations other than the banking center or office at which the account, property or records are held. You direct us not to contest the legal process. There is a legal process fee even if the legal process is later released, and we may charge you our normal rates for record search and copies, in addition to our Legal Process fee, if we are not able to charge the party serving the legal process. See Fee Schedule. Funds we impound in response to legal process will not earn interest. We will try to notify you of our receipt of legal process affecting your accounts in time for you to take any action you think is necessary, unless we are legally prohibited from doing so.
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Legal Orders – The account is subject to a legal order, which expressly requires more than one signature for withdrawals. Legal Requirements – The account is one required by law to be held by 2 or more persons who must act together to exercise their legal authority over the funds in the account (for example, an account held by 2 Personal Representatives whom the Probate Court has appointed in Letters Testamentary or Letters of Administration to serve together in administering a decedent’s Probate Estate). Accounts Held by Formal Trusts – The account is held by a trust (other than a “business trust”) whose written terms as specified in the Trust Certification or other document require more than a single signature for withdrawals. Other Signature Requirements by Special Arrangement Only – As agreed upon by the Bank and you.
Signature requirements for accounts opened before April 1, 2005, remain unchanged.
Online Services Our online banking service allows you to access your accounts and conduct banking via the Internet. The service allows you to check balances, transfer funds, pay bills, view statements and check images, receive account notifications and more. Some services may also be available through a wireless device. Access to online banking is free. Use of the online banking service is governed by Union Bank’s Online Banking Agreement, which is part of this Agreement.
Notice of Withdrawal Federal regulations require the Bank to reserve the right to require 7 days’ written notice for any withdrawal from interest-earning checking, savings or money market accounts. While the Bank must reserve this right, it is not our general policy to exercise it.
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Payable on Death (POD) Designation You may designate to whom you wish the funds in your account to be payable in the event of your death, subject to the following terms and conditions: ●●
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Accounts held in the names of two or more persons (account Owners) will become payable to the designated Payable on Death beneficiary or beneficiaries only upon the death of all account Owners. Where there is more than one beneficiary, the funds in your account will be paid equally to each of the beneficiaries. The share of any beneficiary who predeceases the account Owner(s) will be paid to the remaining beneficiary or beneficiaries, if there are any. You may change your designated beneficiary or beneficiaries at any time by completing a new signature card for the account(s) affected.
Payment made in accordance with the provisions of your Payable on Death designation will discharge the Bank from liability for funds so paid, unless prior to the payment the Bank has been served with a court order or other appropriate legal process restraining the payment.
Power of Attorney We may accept any instructions or actions on your account by your agent or attorney-in-fact (jointly “agent”). Prior to accepting the authority of your agent, we may require the appointment to be in a form satisfactory to us, which may include completing our power of attorney form. Unless prohibited by law, we may refuse to honor power of attorney or agency that you grant to others for any reason. We may require you or your agent to present the original form. In some cases, we may require that the agent confirm in an affidavit that the powers have not been revoked or terminated. We may continue to rely on the instructions and actions of your agent until we receive written notice in accordance with applicable law and this Agreement that the agent’s authority has been terminated and we have had time to act upon it.
Presentment of Items We may charge your account on the day a check or other transaction is presented or returned to us, whether by physical delivery or electronically. We may charge your account or place a hold on funds at an earlier time, if we receive an electronic or other notice that such Item has been submitted for collection or return at another financial institution, or if a business notifies us that it is processing an electronic transaction against your account (e.g., point-of-sale purchase using a Debit Card). We may determine your account balance for the purpose of deciding to dishonor an Item for nonsufficient funds at any time between the time we receive the Item or notice of it and the time we must return it unpaid. We are not obligated to make this determination more than once. We may charge your account when a copy of a check or other Item drawn against your account is presented to us for payment by another financial institution in place of the original, unless a stop payment order is in effect for the original Item, whether or not the original check is lost, mutilated, destroyed or otherwise unavailable.
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You agree that we shall have no liability to you for paying such a copy, unless you are able to show to our satisfaction that a) you did not issue or otherwise authorize the original, or the terms of the copy we paid are materially different from the terms of the original, and b) you received no benefit from the payment of the copy. Claims arising from the payment of a copy are subject to the provisions of the Claim of Loss section of this Agreement.
Pricing Regions Interest rates, fees and charges for accounts and services may vary based on where your branch is located or how you open your account. Rates and fees may vary state to state or within a state.
Problem Resolution If your account or safe deposit box is at a branch in California, the following applies: All claims, causes of action, or other disputes concerning this Agreement (each a “Claim”), including all questions of law or fact relating thereto, shall, at the written request of any party, be determined by judicial reference pursuant to the California Code of Civil Procedure. The parties shall select a single neutral referee, who shall be a retired state or federal judge (the “Referee”). In the event that the parties cannot agree upon a Referee, the court shall appoint the Referee. The Referee shall report a statement of decision to the court. Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral or obtain provisional remedies. The parties shall bear the fees and expenses of the Referee equally, unless the Referee orders otherwise. The Referee shall also determine all issues relating to the applicability, interpretation and enforceability of this paragraph. The parties acknowledge that a jury will not decide the Claims. If your account or safe deposit box is at a branch in another state, the following applies: To the maximum extent permitted by law, you and the Bank intentionally and deliberately give up the right to a trial by a jury to resolve all Claims, including all questions of law or fact relating thereto. If the waiver of jury trial set forth above is not enforceable for any reason, then the parties hereby agree that all Claims, including all questions of law or fact relating thereto, shall, at the written request of any party, be determined by judicial reference pursuant to the applicable state statutes, as appropriate. The parties shall select a single neutral referee, who shall be a retired state or federal judge (the “Referee”). In the event that the parties cannot agree upon a Referee, the court shall appoint the Referee. The Referee shall report a statement of decision to the court. Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral or obtain provisional remedies. The parties shall bear the fees and expenses of the Referee equally, unless the Referee orders otherwise. The Referee shall also determine all issues relating to the applicability, interpretation and enforceability of this paragraph. The parties acknowledge that a jury will not decide the Claims.
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Protecting Your Account You play an important role in protecting yourself and your account.
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Call us if your check order, ATM Card or Debit Card does not arrive within 14 Business Days from the date of your order. Keep accurate records of your transactions. Keep your blank and cancelled checks, deposit and withdrawal slips, account statements, ATM Cards and Debit Cards in a safe and secure location. Otherwise you may be responsible for misuse of any of them. Call us immediately if any of them are lost, stolen or missing. We may request your report in writing. Do not give account or personal information to callers. Call them back at a number you know to be legitimate. If your account, card, PIN, other access code or other service is compromised in any way, call us immediately. If you do not accept the advice we give you, we are not responsible for any liability you may incur as a result of your compromised account.
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Do not include your driver’s license, tax identification or Social Security number on a check unless you believe it is necessary and you are directly providing the check to a trusted person. Write checks in dark ink and fill in all lines completely. Make sure all numbers begin at the far left of the line. Blank checks should not be kept with bank statements and paid checks. Do not give anyone a pre-signed check or allow someone else to sign your name on a check. Use checks ordered only through Union Bank.
ATM Cards and Debit Cards – ATMs are convenient and provide many of the banking services you need. To ensure your safety when using an ATM, remember the following tips: ●●
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When entering your personal identification number (PIN) at an ATM or in a public place, cover the PIN pad while entering the number. Never disclose your PIN to anyone, including bank employees, merchants, government officials or the police. When selecting or changing a PIN, do not use any number or word that appears in your wallet (e.g., a birth date, address, phone number or Social Security number). Memorize your PIN; do not write it down or carry it with you. Be aware of your surroundings, particularly at night. Park nearby, in a well-lighted area. Look around. If you notice anything or anyone suspicious, use another ATM or come back later. Stand in a position so the person behind you cannot see you enter your PIN. Ensure Items have been fully accepted into the ATM. Always take your receipt with you to keep your account information confidential. Do not accept offers of help from anyone you do not know. If you have a problem or question, contact your branch.
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Do not share your user ID or password with anyone. Use our online banking service to check your account balance and transactions regularly. We do not request information about you or your accounts by email. If you receive such an email request, do not open any attachments or click open any link in the email. If you do, call us immediately.
Mail:
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Make sure the passenger windows in your vehicle are closed and your doors are locked when you are using a drive-up ATM. Do not display your cash. Pocket it and count it later in the safety of your car, office or home.
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Deposit mail only in a locked U.S. Postal Service mailbox. Do not leave outgoing mail for pickup from your home or an unsecured area at your work. Pick up your mail as soon as possible each day and promptly pick up any statements or other mail held for you at one of our branches. If you do not receive communications from us as expected, call us immediately.
Purchase of Monetary Instruments All monetary instruments sold by the Bank may be purchased only with a check drawn on or a debit to a Union Bank transaction account. Purchases with cash may not be made. This means that cash you wish to use to purchase a monetary instrument must first be deposited into a Union Bank transaction account to fund the desired purchase. Customers with non-transactional deposit accounts such as time deposits or IRAs should speak to an officer for special processing of their transaction.
Record Search Copies of checks, statements or other Bank records are available upon request for up to 7 years after the statement date. We may charge you a research fee in addition to a copy fee. If we cannot provide you with a copy of a check and you lose money as a result, we may cover the loss up to the amount of the check. However, we will not be liable for any consequential damages.
Recording and Monitoring Conversations You agree that we may record or monitor any telephone conversation you have with us. If we do record, we do not have to keep the recordings, unless the law states otherwise.
Release of Information to Third Parties When periodic statements are combined, whether or not at your request, you agree that copies of these statements, which include information on other accounts and services, may be provided to any Owner, Authorized Signer or other person authorized by any of them.
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You authorize us to release information regarding the status and history of your loan and deposit accounts to others, including, without limitation, our parent company and affiliates, as described below and in our current Privacy Policy. You understand that information you have provided us and your account files and credit history, as well as information concerning your creditworthiness, may be updated and shared with others within the Bank from time to time, in accordance with our current Privacy Policy, for consideration of other products and services. For more information, see our current Privacy Policy. We may report information about your account to credit bureaus or other consumer reporting agencies. Late payments, missed payments, overdrafts or other defaults on your account may be reflected in the records of such agencies. We may also disclose information about your account to an account verification service in addition to a credit reporting agency if we close your account due to unsatisfactory handling, fraud, attempted fraud or criminal activity. Under these circumstances, the information disclosed may include the name, address, taxpayer identification number and driver’s license number of any account Owner; the date the account was closed; the reason for its closing; and the fact that the account was closed at the Bank’s request. Other financial institutions subscribing to the account verification service may be supplied with this information.
We are not obligated to question why an Item is returned. We are also not required to evaluate if the return was timely. You waive any claim against us regarding the paying bank’s Midnight Deadline, final settlement, and notice of dishonor and protest. You agree that we may, but have no obligation to, notify you of any Item that is or may be returned. You agree that if an Item deposited to or cashed against your account is paid and at any later time returned by the maker bank claiming that it was altered, forged or unauthorized or should not have been paid for any reason, we may debit or hold any of your accounts for the amount of that Item. We may also charge you a fee. Checks You Write – If we return a check that you write unpaid, the depositing bank may redeposit it electronically. An electronically redeposited Item will appear on your statement as a debit and show the check number. Contact us if you want a copy of the Item.
Returned Items —Custom Service We offer the following Returned Item services. We may charge a fee for each service you select below. Refer to Fee Schedule. ●●
All Owners and Authorized Signers agree that we may obtain name and address information from the records of the California Department of Motor Vehicles, and all expressly waive their right under California Vehicle Code Section 1808.21 to keep such information confidential.
Returned Items Items You Cash or Deposit – If you cash or deposit an Item that is later returned unpaid (or we get a notice that it will be returned unpaid), we may 1) charge your account the amount of that Item and interest; or 2) resend the Item through our standard check process electronically or on a collection basis. We may also place or extend a hold related to the Item and charge you a fee or other expense related to the collection process. Whether or not we resend the Item for processing or collection, we will charge your account a returned Item fee each time, even if the Item is ultimately paid. If we receive an affidavit or declaration under penalty of perjury, or any other type of claim or demand pursuant to applicable law, regulation or similar authority, stating that you were not entitled to the proceeds of a check or other Item deposited to your account, we may debit that amount against any accounts you have with us, whether such accounts are held jointly or solely in your name. If you are receiving government payments, whether by check or by electronic transfers to your account through the government’s direct deposit program, and we receive notice from the government reclaiming amounts previously credited, you agree that we may debit any of your accounts, whether such accounts are held jointly or solely in your name, for the amount reclaimed. You further agree to pay us immediately for any amount we are obligated to pay if you do not have sufficient funds in your accounts.
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Automatic Re-Clear – An automatic Re-Clear occurs when we send a returned Item to the bank on which it is drawn a second time in an attempt to obtain payment. You can set a maximum amount and have all checks under that amount automatically Re-Clear, or you can have all checks automatically Re-Clear. This service requires approval from your branch, which may discontinue the service at any time with notice to you. The standard returned Item fee does not apply to this service. Endorsement Guarantee and Re-Clear – If you deposit a check with a missing endorsement, the paying bank may return the check unpaid. If we determine that you cashed the check or deposited it to your account, we will provide the missing endorsement, guarantee the endorsement, and automatically Re-Clear the check. Telephone Notification – We will call you if a check you deposited has been returned unpaid. Image Fax Notification – We will fax you a digitized image of the front and back of a returned check whether it is charged back to your account or automatically Re-Clear. We will charge you a fee for this service Duplicate Notice Sent Either to Your Primary Address or to an Alternate Address – We can send you a notice of returned Items, and also send an additional notice with the actual returned checks to an alternate address. Charge Returned Items and Fees to an Alternate Account – We can charge the amount of the returned Items and associated fees to an alternate account of your choice. ●●
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Right of Setoff Balances in your deposit accounts may be subject to our right of setoff for payment of loans or other debts you owe us. We may exercise our right to charge a joint account to pay the individual debts of any Owner of a joint account, and we may charge the personal accounts of any general partner, whether held alone or jointly, for amounts the
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partnership owes us. Our right of setoff does not apply to credit card debt. We will notify you if we exercise our right of setoff. If the setoff is to repay a personal, family or household purpose loan, our notice will inform you of rights you may have to reverse the setoff. If we exercise our right of setoff against a time deposit account, an early withdrawal fee or compensating fee may apply.
Services for Disabled Customers The Bank provides auxiliary aids and services when they are necessary to ensure effective communication with individuals with hearing, vision or speech impairments. Guideline or Raised Line Checks – The Bank offers guideline checks (available in wallet and duplicate styles only) for persons who are blind or visually impaired. These checks are printed with raised lines to help guide the customer when writing a check. Customers interested in these checks will be charged the standard checks fee at the time of the order. There is no additional charge for the raised line feature.
Severability If any provision of this Agreement is determined to be void or invalid, the rest of the Agreement will remain in full force and effect.
Third-Party Service Providers Some of our services, such as ATM and online services, are dependent upon third-party service providers. We are subject to those providers’ rules when we or you use their services. You agree to those rules unless the law or written agreement with us states otherwise. We are not responsible for any liability that you may incur as a result of a third-party service provider’s delay, disruption or failure. We do not guarantee the services you receive from such providers and are not responsible for the services they provide you, unless the law or a written agreement with us states otherwise. We can choose which service providers to use, and may change a service provider at any time without notice to you.
ATMs – All Union Bank ATM locations have at least one machine that includes voice guidance for sight-impaired customers. The machine includes a headphone jack that, when used with an appropriate headphone, allows the customer to hear an orientation on how to use the voice guidance feature. Each branch has a supply of headphones for customer use.
Transfers and Assignments
Accommodations for Customers in Wheel Chairs – The Bank has strived to meet the needs of customers who utilize wheelchairs. Banking office service counters as well as ATM machines have been lowered.
We may delay enforcing our rights under this Agreement without losing them. Any waiver by us shall not be deemed a waiver of other rights or of the same right at another time.
You may not grant, transfer or assign any of your rights to an account without our prior written consent. Account ownership is not transferrable.
Waivers
Telephone Banking – Telephone Banking is equipped with Telecommunications Devices for the Deaf (TDD) services for hearing-impaired customers. Alternative Format Materials – The Bank has available many documents (e.g., statements, notices and disclosures) in alternative formats. The formats that are available are audio cassette, Braille, electronic format (CD or floppy disc) and large print. Persons requesting an alternative format for statements, notices or other documents may contact Telephone Banking, Direct Banking Center (DBC) for online banking customers, or the branch. In the event we do not have certain printed material available in the customer’s preferred format, we will use our best efforts to provide an effective alternative format within 5 to 10 Business Days. It may take up to one full statement cycle for the alternative format to take effect. Waiver of Fees – Deposit account services fees for Telephone Banking and in-person services are waived to those persons who are blind or visually impaired.
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2010 Personal Accounts Fee Schedule
Overdraft and Nonsufficient Funds
Fees and charges shown in this Agreement do not apply to accounts that are analyzed. See the appropriate fee schedule for analyzed accounts.
Nonsufficient Funds (NSF) Fee (for paid/processed or returned/rejected Items)
Checking Accounts Regular Monthly Service Charge Online Paper Statement Statement1 Teen Access...................................................................$ None None Free Checking.................................................................$ None None Regular Checking...........................................................$ 8.00** 8.50 55 PLUS Checking...........................................................$ None None Tiered Interest Checking.................................................$ 11.00** 11.50 Company Benefits Banking.............................................$ None None Signature Banking Regular Checking...............................$ 17.00 17.50 Signature Banking Tiered Interest Checking....................$ 17.00 17.50 Foreign Currency Demand Account..................................$ N/A 30.00 Basic Checking2. ............................................................$ 5.00 6.00 Electronic Transfer Account (ETA)3. ................................$ 3.00 3.00 Electronic Access Account (EAA)3,4 ................................$ 3.95 3.95 **Change in regular monthly service charge for accounts in Washington and Oregon. 1 $2 per month additional charge to receive check images with paper statement, even if no checks are written. Check images are not available for Basic Checking, ETA, EAA or Foreign Currency Demand accounts. 2 $0.75 per check charge for each check over 5 per monthly statement period. 3 $1.50 for each branch withdrawal in excess of 2 per month, each branch information service call in excess of 4 per month and each Telephone Banking personal service call in excess of 4 per month. 4 EAA setup fee $15.00. Savings Overdraft Protection Plan Daily Transfer Charge ................................. $ 10.00
Savings Accounts Regular Monthly Service Charge Regular Savings......................................................................................................................... $ ($2.00 charge for each in-person Withdrawal or Transfer in excess of 4 per calendar month.)
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Cuentahorros Savings............................................................................................................ $ ($2.00 charge for each in-person Withdrawal or Transfer in excess of 4 per calendar month.)
3.00
Kidz Savings................................................................................................................................ $ Teen Savings............................................................................................................................... $ 55 PLUS Savings........................................................................................................................ $ Union Bank Preferred Savings........................................................................................... $ MoneyMarket............................................................................................................................. $ High Rate MoneyMarket....................................................................................................... $ Excess Transfer Charge for each limited transaction in excess of 6 each calendar month (savings accounts) or monthly statement cycle (money market accounts)................................................. $
FREE FREE FREE 15.00 10.00 15.00
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In the Most Recent 12-Month Period Per Item 1–2 Occurrences................................................................................... $ 22.00 3–5 Occurrences.................................................................................. $ 30.00 6+ Occurrences................................................................................... $ 34.00 ETA and EAA Accounts......................................................................... $ 10.00 No more than 5 Items will be subject to an overdraft fee during a single day, even if the combined total of insufficient funds Items on that day is 6 or more. Continued Overdraft Fee.......................................................................................per day $ 6.00 (Starting on the 7th calendar day of overdraft; $30 maximum for each period of continued overdraft; continued overdraft fee N/A to ETA and EAA accounts.)
ATM Transactions Non-Union Bank ATMs When you use your ATM Card or Debit Card at non-Union Bank ATMs, we charge the following fees. The owner or operator of the ATM may also assess a fee. Transaction Within the U.S. Cash Withdrawal...........................................$ 2.00 Each Transfer.................................................$ 2.00 Each Balance Inquiry......................................$ 2.00
Outside the 50 United States 5.00 5.00 5.00
Statement Services Account Statement Paper Statement with Check Images.........................................................per month $ 2.00 (Online statement or paper statement without check images is free; monthly charge for check images does not apply to Priority Banking or The Private Bank customers.) ATM Mini-Statement.................................................................................................... each $ 1.00 (No charge if there are no transactions to report, or for accounts designated as Signature Banking, Priority Banking, Portfolio Connection or The Private Bank.) Snapshot Statement Ordered through Telephone Banking Direct Service......................................... each $ Ordered through Telephone Banking Personal Service................................... each $ Ordered through a Banking Office........................................................................... each $ Insta-Statement (available only through banking office)................................ each $ Multiple Statement Originals (maximum 4 duplicates per month)............................................................per month $ Flexible Statement Rendering (statement generated on a custom calendar cycle, up to 5 statements per month)......................................................................per month $ Will Call Statement (statement held at the office)............................................ each $ ($12 maximum per monthly statement cycle.)
1.00 2.00 3.00 2.00 4.00 5.00 2.00
Statement Sent by Overnight/Express Carrier...................................per request $ 12.00
15.00
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Services for Accounts with Check Writing Privileges Telephone Telephone Banking Banking Online Direct Personal Banking Banking Service Service Office Postdated Checks Order Fee................. $ N/A N/A 15.00 20.00 Check Stop Payment Fee....................... $ 15.00 15.00 25.00 25.00 Stop Payment Range Fee...................... $ N/A N/A 27.00 30.00 Stop Payment N/A N/A N/A 25.00 for a Cashier’s Check ........................ $ Stop Payment N/A N/A N/A 25.00 for a Personal Money Order............... $
Telephone Banking Fees Telephone Banking Bill Pay Option (free with Online Banking Bill Pay) Regular Monthly Service Charge (first 3 months free)............................per month $ 5.00 Each Payment Over 25 Per Month......................................................................... each $ 0.40 (Regular monthly service charge waived for Priority Banking and The Private Bank customers)
Online Transaction Downloads to Personal Financial Management Software Transaction downloads to Personal Financial Management Software, such as Quicken®, Microsoft® Money or QuickBooks® are free when made through Union Bank’s Online Banking Service. The following charges apply for transaction downloads made by accessing the software directly: Online Account Access Online Account Access and Bill Payment $4.00 per month;* $8.00 per month;* Microsoft Money® or Quicken® (for consumers or $0.25 per session $0.40 per payment sole proprietors) in excess of 10 sessions in excess of 25 payments $11.00 per month;* $18.00 per month;* $0.75 per session $0.75 per payment QuickBooks® in excess of 10 sessions in excess of 20 payments *Monthly service charge waived for Signature Banking, Priority Banking, and The Private Bank customers; excess transaction and excess access fees will still apply.
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Wire Transfer Fees Foreign or Domestic correspondent bank charges may apply. We may deduct our fees from your account or the amount of the transfer. Banking Office & Direct Access*
Centralized Customer Service Unit (CCSU)
Incoming Wire Transfer Domestic...................................................................................each $ 13.00 N/A International (USD)...............................................................each $ 13.00 N/A International (Foreign Currency).......................................each $ 13.00 N/A Outgoing Wire Transfer Domestic Repetitive..............................................................................each $ 20.00 33.00 Non-Repetitive....................................................................each $ 28.00 33.00 International (USD) Repetitive..............................................................................each $ 35.00 35.00 Non-Repetitive....................................................................each $ 40.00 40.00 International (Foreign Currency) Repetitive..............................................................................each $ 30.00 50.00 Non-Repetitive....................................................................each $ 35.00 50.00 Standing Order Domestic...............................................................................each $ 10.00 10.00 International (USD)............................................................each $ 15.00 15.00 International (Foreign Currency)...................................each $ 15.00 15.00 Drawdown Reverse Wire (outgoing 1031 only)..................................each $ 20.00 50.00 Drawdown Request from Federal Reserve (with Outgoing Wire)........................................................each $ 25.00 25.00 International (USD)............................................................each $ 15.00 15.00 International (Foreign Currency)...................................each $ 15.00 15.00 Internal Transfer.......................................................................each $ 6.00 30.00 Investigations (plus cable if needed)................................each $ 20.00 20.00 Phone.........................................................................................each $ 15.00 15.00 Payments by Cash or Check...............................................each $ 10.00 N/A *Wires initiated directly through Direct Access in the Wire Services department.
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Other Wire Fees
Miscellaneous Charges Banking Centralized Office & Customer Direct Service Unit Access* (CCSU)
Wire Notification (in addition to periodic statement) Mail Notification (incoming or outgoing)...............per notice $ 2.00 2.00 Facsimile Notification....................................................per notice $ 6.00 6.00 Fast Fax..............................................................................per notice $ 45.00 45.00 Telephone Notification..................................................per notice $ 20.00 20.00 Charges to Sender.................................................................... each $ 15.00 15.00 Exception/Repair....................................................................... each $ 10.00 10.00 SecurID Token Token (1–2).............................................................................................$ No charge No charge Token (3+)................................................................................... each $ 100.00 100.00 Replacement/Expired Token.................................................. each $ 100.00 100.00 Other Intermediary Bank fees may apply. *Wires initiated directly through Direct Access in the Wire Services department.
Foreign Currency Demand Accounts (FCDA) Wire Fees** Incoming Wire Transfer........................................................................................ per wire $ Outgoing Wire Transfer....................................................................................... per wire $ Outgoing Internal Bank (Book) Transfer............................................................ each $ Incoming Internal Bank (Book) Transfer............................................................. each $ Fax Confirmation............................................................................................................. each $ **Additional fees may apply. Consult a foreign exchange advisor.
12.00 30.00 15.00 15.00 15.00
Safe Deposit Box Fees Monthly safe deposit box rental fee varies according to box size and is set forth in the individual safe deposit agreement. Key Deposit...................................................................................................................................$ 20.00 Force Box Open Minimum.....................................................................................................$ 150.00 Late Payment Fee (charged after 30 days).......................................................................$ 10.00
Legal Process Fees Levy from All Agencies.................................................................................................................$ 75.00 California Agency..................................................................... $ State Civil Case......................................................................... $ Federal Agency......................................................................... $ Federal Civil Case..................................................................... $ Internal Revenue Service....................................................... $
Research 24.00/hour 24.00/hour 11.00/hour 11.00/hour 8.50/hour
Copying .10/sheet .10/sheet .25/sheet .25/sheet .20/sheet
Copy Services Copy of a Check (in excess of 2 per calendar month).....................$ Copy of a Previous Statement....................................$ Copy of a Deposit Slip...................................................$ Copy of a Deposited Item............................................$
Telephone Telephone Banking Banking Direct Personal Banking Service Service Office 3.00 3.00 N/A N/A
6.00 1.50 2.00
Other Services Online Business Center Token Authentication................................................ each $ 100.00 Verification of Deposit (account ratings)................................................per request $ 25.00 Counter Checks.....................................................................................each check posted $ 1.00 Check Printing Charges Vary (based on the number and style of checks ordered) Item Processing Rejects (checks and deposit slips) Items with a non-standard MICR; obsolete account number or routing number; excessive rejects due to poor-quality printing..............................................................................................per Item $ 0.25 (Poor-quality reject charge applies for more than 3 Items or 2% of the total of all Items presented in the statement cycle, whichever is greater.) Medallion Stamp Guarantee...............................................................................per visit $ 5.00 Domestic Collection Fee (Incoming and outgoing collections) Clean..............................................................................................................................................$ 30.00 Documentary..............................................................................................................................$ 30.00 International Collection Fee (varies).............................................................minimum $ 100.00 Signature Guarantee...............................................................................................per visit $ 5.00 Travelers Cheques......................................................................................... 2% of purchase amount Copy and Fax Services Photocopy Service (per page)............................ $ Sending Faxes (per page).................................... $
Customer 1.00 2.00
Non-Customer 1.50 2.50
Customer 8.00 5.00
Non-Customer 15.00 N/A
FREE
1%, or $7.50 Minimum (no charge for American Express Travelers Cheques) $7.50 Refundable if account is opened within 30 days $5.00 to cash a business check for $25 or more; $5.00 to cash a personal check for over $100
Check and Money Order Services Cashier’s Checks...................................................... $ Money Orders.......................................................... $ Check Cashing Travelers Checks.................................................. $ Other Banks’ Checks........................................... $
FREE
Union Bank Checks............................................. $
FREE
4.00 1.00 5.00 2.00 1.00
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5.00 5.00 4.00 4.00
Record Search Research Time...........................................................................per hour $ 30.00 ($30 minimum; copy fees will apply.)
Returned Items (Charged Back and Re-Cleared Items) Fees Returned Item Fee.....................................................................................................................$ Automatic Re-Clear Fee............................................................................................... each $ Endorsement Guarantee and Re-Clear Fee........................................................ each $ Telephone Notification Fee or Automatic Re-Clear Fee (in addition to the basic Returned Item fee)........................................................ each $ Charge for Notification of Checks (in excess of 5)........................................... each $ Facsimile Fee (in addition to the basic Returned Item fee).............................. each $ Duplicate Notice Fee..................................................................................................... each $ Charge to an Alternate Account Fee (in addition to the basic Returned Item fee)........................................................ each $
4.00 4.00 3.50 3.50
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unionbank.com 84157 (11/09)
Important Information About Your Account This Notice of Change amends our booklet: • All About Personal Accounts & Services Disclosure and Agreement and any other addenda to these disclosures (“Agreement”) We have made the following changes to the Agreement. The provisions of this notice become effective January 1, 2010. If there is any disagreement between this notice and the Agreement, this notice shall be controlling. Your continued use of your Union Bank account constitutes your consent to the terms of this notice. The Kidz Savings section is deleted in its entirety and replaced with the following: Kidz Savings This account is intended for depositors ages 8 through 12. Account Features: • No regular monthly service charge • No minimum balance required to maintain the account • Unlimited deposits and balance inquiries • Limited withdrawals and transfers (subject to Available Balance). Minimum Deposit to Open Account: . . . . . . . . . . . . $1.00 Statement Options: • Paper statement (check image service not available). Fees: (see Fee Schedule at the end of this Agreement) • Fees for other account services not listed above may be assessed • Nonsufficient funds and overdraft fees may apply. Other: • When the account Owner turns age 13, the Kidz Savings account will convert to a Teen Savings account. We will notify the Owner approximately 60 days prior to account conversion. • This account may not be used for the Savings Overdraft Protection Plan to automatically cover overdrafts in another Union Bank account. Teen Savings The following feature of Teen Savings has been deleted: • If an account Owner is younger than 13 years of age, a parent or guardian is required to be a joint Owner on the account.
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©2010 Union Bank, N.A. 8910083 (1/10)
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. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
Important Information About Your Account This Notice of Change (“Notice”) amends our booklets: • All About Personal Accounts & Services Disclosure and Agreement • All About Business Accounts & Services Disclosure and Agreement • All About Business Accounts & Services and Global Treasury Management Services Disclosure and Agreement and any other addenda to these disclosures (“Agreements”). We have made the following changes to the Agreements. The provisions of this Notice are effective February 27, 2010. If there is any disagreement between this Notice and the Agreements, this Notice shall be controlling. Your continued use of your Union Bank® account constitutes your consent to the terms of this Notice. The Funds Availability section is deleted in its entirety and replaced with the following. Changed terms are in bold.
Funds Availability Our general policy is to make funds from your cash and check deposits with us available to you on the 1st Business Day after the Business Day we receive your deposit. At that time, you can withdraw the funds in cash and we will use the funds to pay checks you have written. Electronic direct deposits will be available on the day we receive the deposit.
• We believe a check you deposit will not be paid. • You deposit checks totaling more than $5,000 on any one day. • You redeposit a check that has been returned unpaid. • You have overdrawn your account repeatedly in the last 6 months. • There is an emergency, such as failure of computer or communications equipment. 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. They will generally be available no later than the 7th Business Day after the day of your deposit. Special Rules for New Accounts – If you are a new customer, the following special rules may 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 transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, travelers, and federal, state and local government checks will be available on the 1st Business Day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the 7th 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 $5,000 may not be available until the second Business Day after the day of your deposit. • Funds from all other check deposits will be available no later than the 7th Business Day after the day of your deposit.
For determining the availability of your deposits, every day is a Business Day, except Saturdays, Sundays and federal holidays. If you make your deposit in person at a branch during normal banking hours on a Business Day, that day is considered the day of your deposit. If we receive your deposit at one of our branches, night depositories or ATMs after our posted closing hour on any Business Day, or if you make your deposit on a day other than a Business Day, your deposit will be considered received on the next Business Day. This funds availability policy does not apply to checks drawn on banks located outside the United States. Longer Delays May Apply – In some cases, we will not make all of the funds that you deposit by check available to you on the 1st Business Day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the 2nd Business Day after the day of your deposit. The first $100 of your deposits, however, may be available on the 1st Business Day. If we are not going to make all of the funds from your deposit available on the 1st 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 Business Day after
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©2010 Union Bank, N.A. 8910088 (2/10)
overdraft occurrence is any day in which Items are presented for payment against nonsufficient funds. See Fee Schedule.
Important Information About Your Account This Notice of Change (“Notice”) amends our booklets: G
All About Personal Accounts & Services Disclosure and Agreement
and any other addenda to these disclosures (“Agreements”). We have made the following changes to the Agreements. The provisions of this Notice are effective: G G
July 1, 2010 for accounts opened on or after July 1, 2010 August 15, 2010 for accounts opened before July 1, 2010
If there is any disagreement between this Notice and the Agreements, this Notice shall be controlling. Your continued use of your Union Bank account constitutes your consent to the terms of this Notice. In the Information Relating to Checking, Savings and Money Market Accounts section, the subsection titled Overdrafts and Overdraft Protection is deleted in its entirety and replaced as follows:
Overdrafts and Overdraft Protection It is your responsibility to make sure that your account contains Available Funds at the time you make a withdrawal transaction of any kind. If you are uncertain of your Available Balance, please contact us or check your account balance online. If you do not have Available Funds on deposit in your account to cover a transaction, we may return or reject an Item unpaid or, in our sole discretion, authorize the transaction. We are not responsible for any liability you may incur as a result of us returning or rejecting an Item or other transaction unpaid. If we authorize the transaction and it creates an overdraft, you must pay back any overdraft immediately. Each Owner may be jointly and severally liable to pay back any overdraft created by any account Owner or Authorized Signer, even if the Owner did not write the check, initiate the transaction, benefit from it, or make any deposits to the account. The fact that we may pay an Item or complete a transaction that creates an overdraft in no way obligates us to pay any other Item or complete any other transaction that creates or increases an overdraft. We may discontinue permitting overdrafts at any time without notice to you, regardless of our previous practice or course of conduct. We may close your account due to overdraft activity. See Closing an Account. You agree that we may apply deposits (including, but not limited to, Social Security, SSI, and similar benefits) to overdrafts without notice to or consent from you, unless the law states otherwise. Overdraft (Nonsufficient Funds) Fee – We may charge you a nonsufficient funds fee regardless of whether we pay or return an Item. We may assess this fee for each Item we pay or return. The amount of the nonsufficient funds fee depends upon the number of overdraft occurrences you have experienced for the applicable account in the previous 12 months. For this purpose, one
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Continued Overdraft Fee – If you overdraw your account and do not deposit funds to cover the overdraft by the 7th calendar day that your account has been continuously overdrawn, we will charge you a continued overdraft fee. For this purpose, the first day is the day the overdraft occurred. We will charge this fee for each Business Day that the account remains overdrawn for up to 5 Business Days. If you make a deposit sufficient to cover the overdraft on a Business Day at one of our banking offices or ATMs before the posted cutoff time, no fee is charged for that Business Day. See Fee Schedule. Overdraft Coverage and Union Bank Debit Card Overdraft Coverage – The payment of an overdraft is always at our discretion, and we reserve the right not to pay any overdraft. Whether we pay an overdraft depends upon several factors, including your account related behavior. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have numerous overdrafts. We will not pay overdrafts on new accounts for approximately 60 calendar days after the date of account opening. We also will not pay overdrafts on accounts linked with a Cash Reserve Account, or on savings accounts, Teen Access® accounts, Electronic . Transfer AccountsSM, or Electronic Access AccountsSM • If you choose to have Union Bank Debit Card Overdraft Coverage for your ATM and one-time debit card transactions and we then choose to honor card transactions when you do not have sufficient Available Funds in your account, we will charge you applicable overdraft fees. In addition, whether or not you make this choice, we may still honor your checks or other types of transactions, such as bill payments, in-person withdrawals, and recurring debit card payments (for example, gym memberships) when you do not have sufficient Available Funds. If we do so, we will charge you applicable overdraft fees. • If you DO NOT choose to have Union Bank Debit Card Overdraft Coverage, we will reject your ATM and one-time debit card transactions at the ATM or point of sale when your account does not have sufficient Available Funds. Even if you do not choose to have debit card overdraft coverage, we may still honor your checks or other transactions, such as bill payments, in-person withdrawals, and recurring debit card payments (for example, gym memberships) when you do not have sufficient Available Funds. If we do so, we will charge you applicable overdraft fees. To help you avoid overdrafts and fees for transactions presented against nonsufficient funds, we offer our Savings Overdraft Protection Plan and our Cash Reserve Account for a fee. See Fee Schedule or our Cash Reserve Account Agreement and Disclosure Statement. • Savings Overdraft Protection Plan – With this plan, you authorize the Bank to make transfers automatically from your eligible savings account to cover transactions presented against nonsufficient funds in your checking account. For this purpose, funds from your savings account will be automatically transferred to your designated checking account. These automatic transfers are considered “limited transactions,” and each transfer is counted as one of the 6 transfers from a savings account allowed per calendar month by federal regulation. Each day a transfer occurs from your savings account to cover transactions presented against nonsufficient funds, we will immediately withdraw a daily transfer fee from your checking account. Transfers are made in the exact amount to cover the shortfall in Available Funds plus the daily transfer fee.
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Your savings account balance may be reduced to as low as $1, unless you specify a different balance amount.
In the 2010 Personal Accounts Fee Schedule, the section titled Overdraft and Nonsufficient Funds is deleted in its entirety and replaced as follows:
If you do not have Available Funds in your combined checking and savings accounts to cover the shortfall amount and the daily transfer fee, no automatic transfer will be made and your checking account may be subject to an overdraft fee.
Overdraft and Nonsufficient Funds Nonsufficient Funds (NSF) Fee (for paid/processed or returned Items)
MoneyMarket, High Rate MoneyMarketSM and Kidz Savings accounts may not be linked to a checking account for the Savings Overdraft Protection Plan. A Teen Savings account may be used for the Savings Overdraft Protection Plan only if the account is jointly owned by an adult. • Cash Reserve Account – This is a revolving line of credit available to customers meeting certain credit requirements. With this account, you authorize the Bank to make automatic advances from your Cash Reserve Account to cover transactions presented against nonsufficient funds in your designated checking account. Advances made by the Bank or you can be made up to your available Cash Reserve Account limit. You can also withdraw cash by making advances directly from your Cash Reserve Account. You may repay the advanced amount in full or in minimum monthly installments automatically deducted from your designated checking account.1
In the most recent 12-month period 1-2 occurrences . . . . . . . . . . . . . . . . . . 3-5 occurrences . . . . . . . . . . . . . . . . . . 6+ occurrences. . . . . . . . . . . . . . . . . . . ETA and EAA Accounts . . . . . . . . . . .
Per Item $ 22.00 $ 30.00 $ 34.00 $ 10.00
No more than 5 Items will be subject to an overdraft fee during a single day, even if the combined total of insufficient funds Items on that day is 6 or more. Continued Overdraft Fee. . . . . . . . . .
$6 per Business Day
Continued overdraft fee is charged beginning on the 7th calendar day the account has been continuously overdrawn; $30 maximum for each period of continued overdraft. Continued overdraft fee N/A to ETA and EAA accounts.
If a checking account is linked to our Savings Overdraft Protection Plan, any overdraft will be covered first by the Savings Overdraft Protection Plan and then, if necessary and allowed by us, by an overdraft on your checking account. If a checking account is linked to our Cash Reserve Account, any overdraft can be covered by the Cash Reserve Account. If a checking account is linked to both our Savings Overdraft Protection Plan and Cash Reserve Account, any overdraft will be covered first by the Savings Overdraft Protection Plan and then by the Cash Reserve Account. In the Information Relating to Checking, Savings and Money Market Accounts section, the subsection titled Order of Processing Checks and Other Items is deleted in its entirety and replaced as follows:
Order of Processing Checks and Other Items You agree that we may pay or certify your checks and other Items in any order we choose, and that we may establish different processing priorities and categories for checks and other Items. Within each priority or category, we may process checks and other Items in the order in which we receive them, in check number order, or in the dollar amount order, and we may change these priorities, categories and orders at any time without notice to you. We will generally, but are not obligated to, post Union Bank Items, transactions and fees first, followed by ATM Card and Debit Card Items. We will post such Items within each category, as designated by us, in ascending order by amount. Checks, bill payments, electronic (such as ACH) debits and other Items will then be posted in descending order by amount without regard to any specific category. When there are not sufficient Available Funds in an account to cover all of the checks and other Items presented on a given day, some of the priorities, categories and orders may result in more nonsufficient funds fees than others.
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Subject to credit approval. Certain fees apply. Terms and conditions subject to change. Refer to the Cash Reserve Account Agreement and Disclosure Statement for full details.
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©2010 Union Bank, N.A. 8910148 (5/10)
