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AGREEMENT – This
document, along with any other documents we give you pertaining
to your account(s), is a contract that establishes rules
which control your account(s) with us. Please read
this carefully. If you sign
the signature card or open or continue to have your account
with us, you agree to these rules. You will receive a
separate schedule of rates, qualifying balances, and fees if
they are not included in this document. If you have any
questions, please call us.
This agreement is subject to
applicable federal laws and the laws of the state of Georgia
(except to the extent that this agreement can and does vary
such rules or laws). The
body of state and federal law that governs our relationship
with you, however, is too large and complex to be reproduced
here. The purpose of this document is to:
- summarize some laws that apply to common transactions;
- establish rules to cover transactions or events which the
law does not regulate;
- establish rules for certain
transactions or events which the law regulates but permits
variation by agreement; and
- give you disclosures of some of our policies to which you
may be entitled or in which you may be interested.
If any provision of this document
is found to be unenforceable according to its terms, all
remaining provisions will continue in full force and effect. We
may permit some variations from our standard agreement, but
we must agree to any variation in writing either on the signature
card for your account or in some other document.
As used in this document the
words “we,” “our,” and “us” mean
the financial institution and the words “you” and “your” mean
the account holder(s) and anyone else with the authority to
deposit, withdraw, or exercise control over the funds in the
account. The headings in this document are for convenience
or reference only and will not govern the interpretation of
the provisions. Unless it would be inconsistent to
do so, words and phrases used in this document should be construed
so the singular includes the plural and the plural includes
the singular.
LIABILITY – You
agree, for yourself (and the person or entity you represent
if you sign as a representative of another) to the terms
of this account and the schedule of charges. You authorize us to deduct these charges directly
from the account balance as accrued. You will pay any
additional reasonable charges for services you request which
are not covered by this agreement.
Each of you also agrees to
be jointly and severally (individually) liable for any account
shortage resulting from charges or overdrafts, whether caused
by you or another with access to this account. This
liability is due immediately, and can be deducted directly
from the account balance whenever sufficient funds are available. You
have no right to defer payment of this liability, and you are
liable regardless of whether you signed the item or benefited
from the charge or overdraft. This includes liability
for our costs to collect the deficit including, to the extent
permitted by law, our reasonable attorneys’ fees.
DEPOSITS – We
will give only provisional credit until collection is final
for any items, other than cash, we accept for deposit (including
items drawn “on
us”). Actual credit for deposits of, or payable
in, foreign currency will be at the exchange rate in effect
on final collection in U.S. dollars. We are not responsible
for transactions by mail or outside depository until we actually
record them. We will treat and record all transactions
received after our “daily cutoff time” on a business
day we are open, or received on a day we are not open for business,
as if initiated on the next following business day that we
are open.
WITHDRAWALS – Unless
clearly indicated otherwise on the account records, any of
you, acting alone, who signs in the space designated for
signatures on the signature card may withdraw or transfer
all or any part of the account balance at any time. Each of you (until we receive written
notice to the contrary) authorizes each other person signing
the signature card to indorse any item payable to you or your
order for deposit to this account or any other transaction
with us. We may charge your account for a check even
though payment was made before the date of the check, unless
we have received written notice of the postdating in time to
have a reasonable opportunity to act. We may refuse any
withdrawal or transfer request which you attempt on forms not
approved by us, by any method we do not specifically permit,
which is greater in number than the frequency permitted, or
which is for an amount greater or less than any withdrawal
limitations. Even if we honor a nonconforming request,
we may treat continued abuse of the stated limitations (if
any) as your act of closing the account. We will use
the date the transaction is completed by us (as opposed to
the date you initiate it) to apply requests that overdraw the
available account balance and does not obligate us to do so
later. See the funds availability policy disclosure for
information about when you can withdraw funds you deposit. For
those accounts for which our funds availability policy disclosure
does not apply, you can ask us when you make a deposit when
those funds will be available for withdrawal.
We may require not less than
7 days’ notice in writing
before each withdrawal from an interest-bearing account other
than a time deposit, or from any other savings account as defined
by Regulation D. Withdrawals from a time account prior
to maturity or prior to any notice period may be restricted
and may be subject to penalty. See you notice of penalty
for early withdrawal.
OWNERSHIP OF ACCOUNT
AND BENEFICIARY DESIGNATION – These
rules apply to this account depending on the form of ownership
and beneficiary designation, if any, specified on the account
records. We make no representations as to the appropriateness
or effect of the ownership and beneficiary designations, except
as they determine to whom we pay the account funds.
Individual Account – is
an account in the name of one person.
Joint Account – With
Survivorship (and not as Tenants in Common) – is an account
in the name of two or more persons. Each of you intend
that when you die the balance in the account (subject to
any previous pledge to which we have agreed) will belong
to the survivor(s). If two or more of you survive,
you will own the balance in the account as joint tenants
with survivorship and not as tenants in common.
Joint Account – No
Survivorship (as Tenants in Common) – is owned by two or more persons,
but none of you intend (merely by opening this account) to
create any right of survivorship in any other person. We
encourage you to agree and tell us in writing of the percentage
of the deposit contributed by each of you. This information
will not, however, affect the “number of signatures” necessary
for withdrawal.
Revocable Trust or Pay-on-Death Account – If
two or more of you create this type of account, you own the
account jointly with survivorship. Beneficiaries cannot
withdraw unless: (1) all persons creating the account
die, and (2) the beneficiary is then living. If two
or more beneficiaries are named and survive the death of all
persons creating the account, beneficiaries will own this account
in equal shares, without right of survivorship. The
person(s) creating either of these account types may: (1)
change beneficiaries, (2) change account types, and (3) withdraw
all or part of the account funds at any time.
BUSINESS ACCOUNTS – Earnings in the
form of interest, dividends, or credits will be paid only on
collected funds, unless otherwise provided by law or our policy. We
may require the governing body of the legal entity opening
the account to give us a separate authorization telling us
who is authorized to act on its behalf. We will honor
the authorization until we actually receive written notice
of a change from the governing body of the legal entity.
STOP PAYMENTS – You must make any stop-payment
order in the manner required by law and we must receive it
in time to give us a reasonable opportunity to act on it before
our stop-payment cutoff time. To be effective, your stop-payment
order must precisely identify the number, date and amount of
the item, and the payee.
You may stop payment on any
item drawn on your account whether you sign the item or not,
it you have an equal or greater right to withdraw from this
account than the person who signed the item. A release
of the stop-payment request may be made only by the person
who initiated the stop-payment order.
Our stop-payment cutoff time
is one hour after the opening of the next banking day after
the banking day on which we receive the item. Additional
limitations on our obligation to sop payment are provided
by law (e.g., we paid the item in cash or we certified the
item).
TELEPHONE TRANSFERS – A telephone transfer
of funds from this account to another account with us, if otherwise
arranged for or permitted, may be made by the same persons
and under the same conditions generally applicable to withdrawals
made in writing. Unless a different limitation is disclosed
in writing, we restrict the number of transfers from a savings
account to another account or to third parties, to a maximum
of six per month (less the number of “preauthorized transfers” during
the month). Other account transfer restrictions may be
described elsewhere.
AMENDMENTS AND TERMINATION – We may
change any term of this agreement. Rules governing changes
in interest rates are provided separately. For other
changes, we will give you reasonable notice in writing or by
any other method permitted by law. We may also close
this account at any time upon reasonable notice to you and
tender of the account balance personally or by mail. Notice
from us to any one of you is notice to all of you.
STATEMENTS – You must examine your
statement of account with “reasonable promptness.” If
you discover (or reasonably should have discovered) any unauthorized
signatures or alterations, you must promptly notify us of the
relevant facts. As between you and us, if you fail to
do either of these duties, you will have to either share the
loss with us, or bear the loss entirely yourself (depending
on whether we used ordinary card and, if not, whether we substantially
contributed to the loss). The loss could be not only
with respect to items on the statement but other items with
unauthorized signatures or alterations by the same wrongdoer.
You agree that the time you have to examine your statement
and report to us will depend on the circumstances, but will
not, in any circumstance, exceed a total of 30 days from when
the statement is first sent or made available to you.
You further agree that if
you fail to report any unauthorized signatures, alterations,
forgeries, or any other errors in your account within 60
days of when we first send or make the statement available,
you cannot assert a claim against us on any items in that
statement, and as between you and us the loss will be entirely
yours. This 60-day limitation is
without regard to whether we used ordinary care. The
limitation in this paragraph is in addition to that contained
in the first paragraph of this section.
ACCOUNT TRANSFER – This
account may not be transferred or assigned without our prior
written consent.
DIRECT DEPOSITS – If, in connection
with a direct deposit plan, we deposit any amount in an account
which should have been returned to the Federal Government for
any reason, you authorize us to deduct the amount of our liability
to the Federal Government from the account or from any other
account you have with us, without prior notice and at any time,
except as prohibited by law. We may also use other legal
remedy to recover the amount of our liability.
TEMPORARY ACCOUNT AGREEMENT – If this
option is selected, this is a temporary account agreement. Each
person who signs in the space designated for signatures on
the signature card (except as indicated to the contrary) may
transaction business on this account. However, we may
at some time in the future restrict or prohibit further use
of this account if you fail to comply with the requirements
we have imposed within a reasonable time.
SETOFF – We may (without prior notice
and when permitted by law) set off the funds in this account
against any due and payable debit you owe us now or in the
future, by any of you having the right of withdrawal, to the
extent of such persons’ or legal entity’s right
to withdraw. If the debt arises from a note, “any
due and payable debt” includes the total amount of which
we are entitled to demand under the terms of the note at the
time we set off, including any balance the due date for which
we properly accelerate under the note.
This right of setoff does
not apply to this account if: (a)
it is an IRA or other tax-deferred retirement account, or (b)
the debt is created by a consumer credit transaction under
a credit card plan (but this does not affect our rights under
any consensual security interest), or (c) the debtor’s
right of withdrawal only arises in a representative capacity. We
will not be liable for the dishonor of any check when the dishonor
occurs because we set off a debt against this account. You
agree to hold us harmless from any claim arising as a result
of our exercise of our right to setoff.
AUTHORIZED SIGNER (Individual Accounts only) – A
single individual is the owner. The authorized signer
is merely designated to conduct transactions on the owner’s
behalf. We undertake no obligation to monitor transactions
to determine that they are on the owner’s behalf.
RESTRICTIVE LEGENDS – We are not required
to honor any restrictive legend on checks you write unless
we have agreed in writing to the restriction. Examples
of restrictive legends are “must be presented within
90 days” or “not valid for more than $1,000.00.”
ACH AND WIRE TRANSFERS – This agreement
is subject to Article 4A of the Uniform Commercial Code – Fund
Transfers as adopted in the state in which you have your account
with us. If you originate a fund transfer for which Fedwire
is used, and you identify by name and number a beneficiary
financial institution, an intermediary financial institution,
or a beneficiary, we and every receiving or beneficiary financial
institution may rely on the identifying number to make payment. We
may rely on the number even if it identifies a financial institution,
person or account other than the one named. You agree
to be bound by automated clearing house association rules. These
rules provide, among other things, that payments made to your,
or originated by you, are provisional until final settlement
is made through a Federal Reserve Bank or payment is otherwise
made as provided in Article 4A-403(a) of the Uniform Commercial
Code. If we do not receive such payment, we are entitled
to a refund from you in the amount credited to your account
and the party originating such payment will not be considered
to have paid the amount so credited. If we receive a
credit to an account you have with us by wire or ACH, we are
not required to give you any notice of the payment order or
credit.
FACSIMILE SIGNATURES – You
authorize us, at any time, to charge you for all checks,
drafts, or other orders, for the payment of money, that are
drawn on us regardless of by whom or by what means the facsimile
signatures(s) may have been affixed so long as they resemble
the facsimile signature specimen filed with us, and contain
the required number of signatures for this purpose.
PLEDGES – Unless we agree otherwise
in writing, each owner of this account may pledge all or any
part of the funds in it for any purpose to which we agree. Any
pledge of this account must first be satisfied before the rights
of any surviving account owner or account beneficiary become
effective.
Revised 07/20/2005 Deposit
Account Terms and Conditions
Deposit Account Terms and Conditions
Revised 07/20/2005 Deposit
Account Terms and Conditions |
