TABLE OF CONTENTS
TERMS AND CONDITIONS OF YOUR ACCOUNT
Important Information About Procedures for Opening a New Account
Agreement
Liability
Deposits
Withdrawals
Ownership of Account and Beneficiary Designation
Stop Payments
Telephone Transfers
Amendments and Termination
Notices
Statements
Account Transfer
Direct Deposits
Temporary Account Agreement
Setoff
Agency (Power of Attorney) Designation
Restrictive Legends or Endorsements
Facsimile Signatures
Check Processing
Check Cashing
Endorsements
Death or Incompetence
Fiduciary Accounts
Credit Verification
Legal Actions Affecting Your Account
Security
Telephonic Instructions
Monitoring and Recording Telephone Calls and Consent to Receive Communications
Claim of Loss
Early Withdrawal Penalties
Address or Name Changes
Resolving Account Disputes
Waiver of Notices
ACH and Wire Transfers
Unclaimed Property
Cash Transaction Reporting
Health Savings Accounts (HSA)
ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES
YOUR ABILITY TO WITHDRAW FUNDS
TRUTH-IN-SAVINGS DISCLOSURE
Basic Checking Account
Basic Plus Checking Account
Interest Checking Account
Presidential Checking Account
Money Market Account
Personal Savings Account
Youth Savings Account
HSA Checking Account
Common Features
TERMS AND CONDITIONS
OF YOUR ACCOUNT
IMPORTANT INFORMATION ABOUT
PROCEDURES FOR OPENING A NEW ACCOUNT - To
help the government fight the funding of terrorism and money laundering activities,
federal law requires all financial institutions to obtain, verify, and record information
that identifies each person who opens an account.
What this means for you: When you open
an account, we will ask for your name, address, date of birth (for individuals),
and other information that will allow us to identify you. We may also ask to see
your driver's license (for individuals) or other identifying documents.
AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying 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, the laws of the state of North Dakota and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:
This agreement is subject to applicable
federal laws, the laws of the state of North Dakota and other applicable rules such
as the operating letters of the Federal Reserve Banks and payment processing system
rules (except to the extent that this agreement can and does vary such rules or
laws). The body of state and federal law that governs our relationship with you,
however, is too large and complex to be reproduced here. The purpose of this document
is to:
- 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. Nothing in this document is intended
to vary our duty to act in good faith and with ordinary care when required by law.
As used in this document the words
"we," "our," and "us" mean the financial institution
and the words "you" and "your" mean the account holder(s)
and anyone else with the authority to deposit, withdraw, or exercise control over
the funds in the account. However, this agreement does not intend, and the terms
"you" and "your" should not be interpreted, to expand an
individual's responsibility for an organization's liability. If this
account is owned by a corporation, partnership or other organization, individual
liability is determined by the laws generally applicable to that type of organization.
The headings in this document are for convenience or reference only and will not
govern the interpretation of the provisions. Unless it would be inconsistent to
do so, words and phrases used in this document should be construed so the singular
includes the plural and the plural includes the singular. "Party" means
a person who, by the terms of an account, has a present right, subject to request,
to payment from the account other than as a beneficiary or agent.
LIABILITY - You
agree, for yourself (and the person or entity you represent if you sign as a representative
of another) to the terms of this account and the schedule of charges. You authorize
us to deduct these charges, without notice to you, directly from the account balance
as accrued. You will pay any additional reasonable charges for services you request
which are not covered by this agreement.
Each of you also agrees to be jointly and
severally (individually) liable for any account shortage resulting from charges
or overdrafts, whether caused by you or another with access to this account. This
liability is due immediately, and 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.
You will be liable for our costs as
well as for our reasonable attorneys' fees, to the extent permitted by law,
whether incurred as a result of collection or in any other dispute involving your
account. This includes, but is not limited to, disputes between you and another
joint owner; you and an authorized signer or similar party; or a third party claiming
an interest in your account. This also includes any action that you or a third party
takes regarding the account that causes us, in good faith, to seek the advice of
an attorney, whether or not we become involved in the dispute. All costs and attorneys'
fees can be deducted from your account when they are incurred, without notice to
you.
DEPOSITS - 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"). Before
settlement of any item becomes final, we act only as your agent, regardless of the
form of endorsement or lack of endorsement on the item and even though we provide
you provisional credit for the item. We may reverse any provisional credit for items
that are lost, stolen, or returned. Unless prohibited by law, we also reserve the
right to charge back to your account the amount of any item deposited to your account
or cashed for you which was initially paid by the payor bank and which is later
returned to us due to an allegedly forged, unauthorized or missing endorsement,
claim of alteration, encoding error or other problem which in our judgment justifies
reversal of credit. 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. If you deliver a deposit to us and you will not be present when the
deposit is counted, you must provide us an itemized list of the deposit (deposit
slip). To process the deposit, we will verify and record the deposit, and credit
the deposit to the account. If there are any discrepancies between the amounts shown
on the itemized list of the deposit and the amount we determine to be the actual
deposit, we will notify you of the discrepancy. You will be entitled to credit only
for the actual deposit as determined by us, regardless of what is stated on the
itemized deposit slip. 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 business day that
we are open. At our option, we may take an item for collection rather than for deposit.
If we accept a third-party check for deposit, we may require any third-party endorsers
to verify or guarantee their endorsements, or endorse in our presence.
WITHDRAWALS -
Generally - Unless clearly
indicated otherwise on the account records, any of you, acting alone, who signs
to open the account or has authority to make withdrawals may withdraw or transfer
all or any part of the account balance at any time. Each of you (until we receive
written notice to the contrary) authorizes each other person who signs or has authority
to make withdrawals to endorse any item payable to you or your order for deposit
to this account or any other transaction with us.
Postdated checks - A postdated
check is one which bears a date later than the date on which the check is written.
We may properly pay and charge your account for a postdated check even though payment
was made before the date of the check, unless we have received written notice of
the postdating in time to have a reasonable opportunity to act. Because we process
checks mechanically, your notice will not be effective and we will not be liable
for failing to honor your notice unless it precisely identifies the number, date,
amount and payee of the item.
Checks and withdrawal rules - If
you do not purchase your check blanks from us, you must be certain that we approve
the check blanks you purchase. We may refuse any withdrawal or transfer request
which you attempt on forms not approved by us or by any method we do not specifically
permit. We may refuse any withdrawal or transfer request which is greater in number
than the frequency permitted, or which is for an amount greater or less than any
withdrawal limitations. We will use the date the transaction is completed by us
(as opposed to the date you initiate it) to apply the frequency limitations. In
addition, we may place limitations on the account until your identity is verified.
Even if we honor a nonconforming request,
we are not required to do so later. If you violate the stated transaction limitations
(if any), in our discretion we may close your account or reclassify it as a transaction
account. If we reclassify your account, your account will be subject to the fees
and earnings rules of the new account classification. If
we are presented with an item drawn against your account that would be a "substitute
check," as defined by law, but for an error or defect in the item introduced
in the substitute check creation process, you agree that we may pay such item.
See the funds availability policy disclosure for
information about when you can withdraw funds you deposit. For those accounts to
which our funds availability policy disclosure does not apply, you can ask us when
you make a deposit when those funds will be available for withdrawal. An item may
be returned after the funds from the deposit of that item are made available for
withdrawal. In that case, we will reverse the credit of the item. We may determine
the amount of available funds in your account for the purpose of deciding whether
to return an item for insufficient funds at any time between the time we receive
the item and when we return the item or send a notice in lieu of return. We need
only make one determination, but if we choose to make a subsequent determination,
the account balance at the subsequent time will determine whether there are insufficient
available funds.
Overdrafts - You understand
that we may, at our discretion, honor withdrawal requests that overdraw your account.
However, the fact that we may honor withdrawal requests that overdraw the account
balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts
on your account regardless of how frequently or under what circumstances we have
paid overdrafts on your account in the past. We can change our practice of paying
overdrafts on your account without notice to you. You can ask us if we have other
account services that might be available to you where we commit to paying overdrafts
under certain circumstances, such as an overdraft protection line-of-credit or a
plan to sweep funds from another account you have with us. You agree that we may
charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts
caused by ATM withdrawals or one-time debit card transactions if you have not opted-in
to that service. We may use subsequent deposits, including direct deposits of social
security or other government benefits, to cover such overdrafts and overdraft fees.
Multiple signatures, electronic
check conversion, and similar transactions - An electronic check conversion
transaction is a transaction where a check or similar item is converted into an
electronic fund transfer as defined in the Electronic Fund Transfers regulation.
In these types of transactions the check or similar item is either removed from
circulation (truncated) or given back to you. As a result, we have no opportunity
to review the check to examine the signatures on the item. You agree that, as to
these or any items as to which we have no opportunity to examine the signatures,
you waive any requirement of multiple signatures.
Notice of withdrawal - We reserve
the right to require not less than 7 days' notice in writing before each withdrawal
from an interest-bearing account other than a time deposit or demand deposit, or
from any other savings account as defined by Regulation D. (The law requires us
to reserve this right, but it is not our general policy to use it.) Withdrawals
from a time account prior to maturity or prior to any notice period may be restricted
and may be subject to penalty. See your notice of penalty for early withdrawal.
OWNERSHIP OF ACCOUNT AND
BENEFICIARY DESIGNATION - These rules apply to this
account depending on the form of ownership and beneficiary designation, if any,
specified on the account records. We make no representations as to the appropriateness
or effect of the ownership and beneficiary designations, except as they determine
to whom we pay the account funds.
Single-Party Account - Such
an account is owned by one party.
Multiple-Party Account - Parties
own account in proportion to net contributions unless there is clear and convincing
evidence of a different intent.
RIGHTS AT DEATH - Single-Party Account
- At the death of a party, ownership passes as part of the party's estate.
Multiple-Party Account With Right
of Survivorship - At death of party, ownership passes to surviving parties.
If two or more parties survive and one is the surviving spouse of the deceased party,
the amount to which the deceased party, immediately before death, was beneficially
entitled by law belongs to the surviving spouse. If two or more parties survive
and none is the spouse of the decedent, the amount to which the deceased party,
immediately before death, was beneficially entitled by law belongs to the surviving
parties in equal shares, and augments the proportion to which each surviving party,
immediately before the deceased party's death, was beneficially entitled under
law, and the right of survivorship continues between the surviving parties.
Multiple-Party Account Without Right
of Survivorship - At death of party, deceased party's ownership passes
as part of deceased party's estate.
Single-Party Account With Pay-on-Death
Designation - At death of the party, ownership passes to the designated pay-on-death
beneficiaries and is not part of the party's estate.
Multiple-Party Account With Right
of Survivorship and Pay-on-Death Designation - At death of last surviving party,
ownership passes to the designated pay-on-death beneficiaries and is not part of
the last surviving party's estate.
STOP PAYMENTS - Unless
otherwise provided, the rules in this section cover stopping payment of items such
as checks and drafts. Rules for stopping payment of other types of transfers of
funds, such as consumer electronic fund transfers, may be established by law or
our policy. If we have not disclosed these rules to you elsewhere, you may ask us
about those rules.
We may accept an order to stop payment
on any item from any one of you. You must make any stop-payment order in the manner
required by law and we must receive it in time to give us a reasonable opportunity
to act on it before our stop-payment cutoff time. Because stop-payment orders are
handled by computers, to be effective, your stop-payment order must precisely identify
the number, date, and amount of the item, and the payee. You may stop payment on
any item drawn on your account whether you sign the item or not. Generally, if your
stop-payment order is given to us in writing it is effective for six months. Your
order will lapse after that time if you do not renew the order in writing before
the end of the six-month period. If the original stop-payment order was oral your
stop-payment order will lapse after 14 calendar days if you do not confirm your
order in writing within that time period. We are not obligated to notify you when
a stop-payment order expires. A release of the stop-payment request may be made
only by the person who initiated the stop-payment order.
If you stop payment on an item and
we incur any damages or expenses because of the stop payment, you agree to indemnify
us for those damages or expenses, including attorneys' fees. You assign to
us all rights against the payee or any other holder of the item. You agree to cooperate
with us in any legal actions that we may take against such persons. You should be
aware that anyone holding the item may be entitled to enforce payment against you
despite the stop-payment order.
Our stop-payment cutoff time is one hour after
the opening of the next banking day after the banking day on which we receive the
item. Additional limitations on our obligation to stop payment are provided by law
(e.g., we paid the item in cash or we certified the item).
TELEPHONE TRANSFERS
- A telephone transfer of funds from this account to another account with us,
if otherwise arranged for or permitted, may be made by the same persons and under
the same conditions generally applicable to withdrawals made in writing. 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 in the Truth-in-Savings disclosure or in another document.
For other changes, we will give you reasonable notice in writing or by any other
method permitted by law. We may also close this account at any time upon reasonable
notice to you and tender of the account balance personally or by mail. Items presented
for payment after the account is closed may be dishonored. When you close your account,
you are responsible for leaving enough money in the account to cover any outstanding
items to be paid from the account. Reasonable notice depends on the circumstances,
and in some cases such as when we cannot verify your identity or we suspect fraud,
it might be reasonable for us to give you notice after the change or account closure
becomes effective. For instance, if we suspect fraudulent activity with respect
to your account, we might immediately freeze or close your account and then give
you notice. You agree to keep us informed of your current address at all times.
Notice from us to any one of you is notice to all of you. If we have notified you
of a change in any term of your account and you continue to have your account after
the effective date of the change, you have agreed to the new term(s).
NOTICES - Any written notice you give us is effective
when we actually receive it, and it must be given to us according to the specific
delivery instructions provided elsewhere, if any. We must receive it in time to
have a reasonable opportunity to act on it. If the notice is regarding a check or
other item, you must give us sufficient information to be able to identify the check
or item, including the precise check or item number, amount, date and payee. Written
notice we give you is effective when it is deposited in the United States Mail with
proper postage and addressed to your mailing address we have on file. Notice to
any of you is notice to all of you.
STATEMENTS - Your duty to report
unauthorized signatures, alterations and forgeries - You must examine your statement
of account with "reasonable promptness." If you discover (or reasonably
should have discovered) any unauthorized signatures or alterations, you must promptly
notify us of the relevant facts. As between you and us, if you fail to do either
of these duties, you will have to either share the loss with us, or bear the loss
entirely yourself (depending on whether we used ordinary care and, if not, whether
we substantially contributed to the loss). The loss could be not only with respect
to items on the statement but other items with unauthorized signatures or alterations
by the same wrongdoer.
You agree that the time you have to
examine your statement and report to us will depend on the circumstances, but will
not, in any circumstance, exceed a total of 30 days from when the statement is first
sent or made available to you.
You further agree that if you fail
to report any unauthorized signatures, alterations or forgeries in your account
within 60 days of when we first send or make the statement available, you cannot
assert a claim against us on any items in that statement, and as between you and
us the loss will be entirely yours. This 60-day limitation is without regard to
whether we used ordinary care. The limitation in this paragraph is in addition to
that contained in the first paragraph of this section.
Your duty to report other errors -
In addition to your duty to review your statements for unauthorized signatures,
alterations and forgeries, you agree to examine your statement with reasonable promptness
for any other error - such as an encoding error. In addition, if you receive or
we make available either your items or images of your items, you must examine them
for any unauthorized or missing endorsements or any other problems. You agree that
the time you have to examine your statement and items and report to us will depend
on the circumstances. However, this time period shall not exceed 60 days. Failure
to examine your statement and items and report any errors to us within 60 days of
when we first send or make the statement available precludes you from asserting
a claim against us for any errors on items identified in that statement and as between
you and us the loss will be entirely yours.
Errors relating to electronic fund transfers
or substitute checks - For information on errors relating to electronic fund
transfers (e.g., computer, debit card or ATM transactions) refer to your Electronic
Fund Transfers disclosure and the sections on consumer liability and error resolution.
For information on errors relating to a substitute check you received, refer to
your disclosure entitled Substitute Checks and Your Rights.
ACCOUNT TRANSFER
- This account may not be transferred or assigned without our prior written
consent.
DIRECT DEPOSITS
- If we are required for any reason to reimburse the federal government for
all or any portion of a benefit payment that was directly deposited into your account,
you authorize us to deduct the amount of our liability to the federal government
from the account or from any other account you have with us, without prior notice
and at any time, except as prohibited by law. We may also use any other legal remedy
to recover the amount of our liability.
TEMPORARY ACCOUNT AGREEMENT
- If the account documentation indicates that this is a temporary account agreement,
each person who signs to open the account or has authority to make withdrawals (except
as indicated to the contrary) may transact business on this account. However, we
may at some time in the future restrict or prohibit further use of this account
if you fail to comply with the requirements we have imposed within a reasonable
time.
SETOFF - We may
(without prior notice and when permitted by law) set off the funds in this account
against any due and payable debt any of you owe us now or in the future. If this
account is owned by one or more of you as individuals, we may set off any funds
in the account against a due and payable debt a partnership owes us now or in the
future, to the extent of your liability as a partner for the partnership debt. If
your debt arises from a promissory note, then the amount of the due and payable
debt will be the full amount we have demanded, as entitled under the terms of the
note, and this amount may include any portion of the balance for which we have properly
accelerated the due date.
This right of setoff does not apply
to this account if prohibited by law. For example, the right of setoff does not
apply to this account if: (a) it is an Individual Retirement Account or similar
tax-deferred account, or (b) the debt is created by a consumer credit transaction
under a credit card plan (but this does not affect our rights under any consensual
security interest), or (c) the debtor's right of withdrawal only arises in
a representative capacity, or (d) setoff is prohibited by the Military Lending Act
or its implementing regulations. We will not be liable for the dishonor of any check
when the dishonor occurs because we set off a debt against this account. You agree
to hold us harmless from any claim arising as a result of our exercise of our right
of setoff.
AGENCY (Power of Attorney)
DESIGNATION (Single-Party Accounts only) - A single individual
is the owner. The agent is merely designated to conduct transactions on the owner's
behalf. The owner does not give up any rights to act on the account, and the agent
may not in any manner affect the rights of the owner or beneficiaries, if any, other
than by withdrawing funds from the account. The owner is responsible for any transactions
of the agent. We undertake no obligation to monitor transactions to determine that
they are on the owner's behalf.
The owner may terminate the agency
at any time, and the agency is automatically terminated by the death of the owner.
However, we may continue to honor the transactions of the agent until: (a) we have
received written notice or have actual knowledge of the termination of the agency,
and (b) we have a reasonable opportunity to act on that notice or knowledge. We
may refuse to accept the designation of an agent.
RESTRICTIVE LEGENDS
OR ENDORSEMENTS - The automated processing of the large
volume of checks we receive prevents us from inspecting or looking for restrictive
legends, restrictive endorsements or other special instructions on every check.
Examples of restrictive legends placed on checks are "must be presented within
90 days" or "not valid for more than $1,000.00." The payee's
signature accompanied by the words "for deposit only" is an example
of a restrictive endorsement. For this reason, we are not required to honor any
restrictive legend or endorsement or other special instruction placed on checks
you write unless we have agreed in writing to the restriction or instruction. Unless
we have agreed in writing, we are not responsible for any losses, claims, damages,
or expenses that result from your placement of these restrictions or instructions
on your checks.
FACSIMILE SIGNATURES
- Unless you make advance arrangements with us, we have no obligation to honor
facsimile signatures on your checks or other orders. If we do agree to honor items
containing facsimile signatures, you authorize us, at any time, to charge you for
all checks, drafts, or other orders, for the payment of money, that are drawn on
us. You give us this authority regardless of by whom or by what means the facsimile
signature(s) may have been affixed so long as they resemble the facsimile signature
specimen filed with us, and contain the required number of signatures for this purpose.
You must notify us at once if you suspect that your facsimile signature is being
or has been misused.
CHECK PROCESSING
- We process items mechanically by relying solely on the information encoded
in magnetic ink along the bottom of the items. This means that we do not individually
examine all of your items to determine if the item is properly completed, signed
and endorsed or to determine if it contains any information other than what is encoded
in magnetic ink. You agree that we have not failed to exercise ordinary care solely
because we use our automated system to process items and do not inspect all items
processed in such a manner. Using an automated process helps us keep costs down
for you and all account holders.
CHECK CASHING - We
may charge a fee for anyone that does not have an account with us who is cashing
a check, draft or other instrument written on your account. We may also require
reasonable identification to cash such a check, draft or other instrument. We can
decide what identification is reasonable under the circumstances and such identification
may be documentary or physical and may include collecting a thumbprint or fingerprint.
ENDORSEMENTS -
We may accept for deposit any item payable to you or your order, even if they
are not endorsed by you. We may give cash back to any one of you. We may supply
any missing endorsement(s) for any item we accept for deposit or collection, and
you warrant that all endorsements are genuine.
To
ensure that your check or share draft is processed without delay, you must endorse
it (sign it on the back) in a specific area. Your entire endorsement (whether a
signature or a stamp) along with any other endorsement information (e.g. additional
endorsements, ID information, driver's license number, etc.) must fall within
11/2"
of the "trailing edge" of a check. Endorsements must be made in blue
or black ink, so that they are readable by automated check processing equipment.
As you look at the front of a check, the "trailing
edge" is the left edge. When you flip the check over, be sure to keep all
endorsement information within 11/2"
of that edge.
It is important that you confine the endorsement
information to this area since the remaining blank space will be used by others
in the processing of the check to place additional needed endorsements and information.
You agree that you will indemnify, defend, and hold us harmless for any loss, liability,
damage or expense that occurs because your endorsement, another endorsement or information
you have printed on the back of the check obscures our endorsement.
These endorsement guidelines apply
to both personal and business checks.
DEATH OR INCOMPETENCE
- You agree to notify us promptly if any person with a right to withdraw funds
from your account(s) dies or is adjudicated (determined by the appropriate official)
incompetent. We may continue to honor your checks, items, and instructions until:
(a) we know of your death or adjudication of incompetence, and (b) we have had a
reasonable opportunity to act on that knowledge. You agree that we may pay or certify
checks drawn on or before the date of death or adjudication of incompetence for
up to ten (10) days after your death or adjudication of incompetence unless ordered
to stop payment by someone claiming an interest in the account.
FIDUCIARY ACCOUNTS
- Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary
is someone who is appointed to act on behalf of and for the benefit of another.
We are not responsible for the actions of a fiduciary, including the misuse of funds.
This account may be opened and maintained by a person or persons named as a trustee
under a written trust agreement, or as executors, administrators, or conservators
under court orders. You understand that by merely opening such an account, we are
not acting in the capacity of a trustee in connection with the trust nor do we undertake
any obligation to monitor or enforce the terms of the trust or letters.
CREDIT VERIFICATION
- You agree that we may verify credit and employment history by any necessary
means, including preparation of a credit report by a credit reporting agency.
LEGAL ACTIONS AFFECTING
YOUR ACCOUNT - If we are served with a subpoena, restraining
order, writ of attachment or execution, levy, garnishment, search warrant, or similar
order relating to your account (termed "legal action" in this section),
we will comply with that legal action. Or, in our discretion, we may freeze the
assets in the account and not allow any payments out of the account until a final
court determination regarding the legal action. We may do these things even if the
legal action involves less than all of you. In these cases, we will not have any
liability to you if there are insufficient funds to pay your items because we have
withdrawn funds from your account or in any way restricted access to your funds
in accordance with the legal action. Any fees or expenses we incur in responding
to any legal action (including, without limitation, attorneys' fees and our
internal expenses) may be charged against your account. The list of fees applicable
to your account(s) provided elsewhere may specify additional fees that we may charge
for certain legal actions.
SECURITY - It
is your responsibility to protect the account numbers and electronic access devices
(e.g., an ATM card) we provide you for your account(s). Do not discuss, compare,
or share information about your account number(s) with anyone. An account number
can be used by thieves to issue an electronic debit or to encode your number on
a false demand draft which looks like and functions like an authorized check. If
you furnish your access device and grant actual authority to make transfers to another
person (a family member or coworker, for example) who then exceeds that authority,
you are liable for the transfers unless we have been notified that transfers by
that person are no longer authorized.
Your account number can also be used
to electronically remove money from your account, and payment can be made from your
account even though you did not contact us directly and order the payment.
You must also take precaution in safeguarding
your blank checks. Notify us at once if you believe your checks have been lost or
stolen. As between you and us, if you are negligent in safeguarding your checks,
you must bear the loss entirely yourself or share the loss with us (we may have
to share some of the loss if we failed to use ordinary care and if we substantially
contributed to the loss).
Except for consumer electronic funds transfers
subject to Regulation E, you agree that if we offer you services appropriate for
your account to help identify and limit fraud or other unauthorized transactions
against your account, such as positive pay or commercially reasonable security procedures,
and you reject those services, you will be responsible for any fraudulent or unauthorized
transactions which could have been prevented by the services we offered, unless
we acted in bad faith or to the extent our negligence contributed to the loss. If
we offered you a commercially reasonable security procedure which you reject, you
agree that you are responsible for any payment order, whether authorized or not,
that we accept in compliance with an alternative security procedure that you have
selected.
TELEPHONIC INSTRUCTIONS
- Unless required by law or we have agreed otherwise in writing, we are not
required to act upon instructions you give us via facsimile transmission or leave
by voice mail or on a telephone answering machine.
MONITORING AND RECORDING
TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS
- We may monitor or record phone calls for security reasons, to maintain a record
and to ensure that you receive courteous and efficient service. You consent in advance
to any such recording. We need not remind you of our recording before each phone
conversation.
To provide you with the best possible
service in our ongoing business relationship for your account we may need to contact
you about your account from time to time by telephone, text messaging or email.
However, we must first obtain your consent to contact you about your account because
we must comply with the consumer protection provisions in the federal Telephone
Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations
and orders issued by the Federal Communications Commission (FCC).
- Your consent is limited to
this account, and as authorized by applicable law and regulations.
- Your consent does not authorize
us to contact you for telemarketing purposes (unless you otherwise agreed elsewhere).
With the above understandings, you authorize us to contact you regarding
this account throughout its existence using any telephone numbers or email addresses
that you have previously provided to us or that you may subsequently provide to
us.
This consent is regardless of whether the number
we use to contact you is assigned to a landline, a paging service, a cellular wireless
service, a specialized mobile radio service, other radio common carrier service
or any other service for which you may be charged for the call. You further authorize
us to contact you through the use of voice, voice mail and text messaging, including
the use of pre-recorded or artificial voice messages and an automated dialing device.
If necessary, you may change or remove
any of the telephone numbers or email addresses at any time using any reasonable
means to notify us.
CLAIM OF LOSS -
If you claim a credit or refund because of a forgery, alteration, or any other unauthorized
withdrawal, you agree to cooperate with us in the investigation of the loss, including
giving us an affidavit containing whatever reasonable information we require concerning
your account, the transaction, and the circumstances surrounding the loss. You will
notify law enforcement authorities of any criminal act related to the claim of lost,
missing, or stolen checks or unauthorized withdrawals. We will have a reasonable
period of time to investigate the facts and circumstances surrounding any claim
of loss. Unless we have acted in bad faith, we will not be liable for special or
consequential damages, including loss of profits or opportunity, or for attorneys'
fees incurred by you.
You agree that you will not waive any
rights you have to recover your loss against anyone who is obligated to repay, insure,
or otherwise reimburse you for your loss. You will pursue your rights or, at our
option, assign them to us so that we may pursue them. Our liability will be reduced
by the amount you recover or are entitled to recover from these other sources.
EARLY WITHDRAWAL PENALTIES
(and involuntary withdrawals) - We may impose early withdrawal penalties on
a withdrawal from a time account even if you don't initiate the withdrawal.
For instance, the early withdrawal penalty may be imposed if the withdrawal is caused
by our setoff against funds in the account or as a result of an attachment or other
legal process. We may close your account and impose the early withdrawal penalty
on the entire account balance in the event of a partial early withdrawal. See your
notice of penalty for early withdrawals for additional information.
ADDRESS OR NAME CHANGES
- You are responsible for notifying us of any change in your address or your
name. Unless we agree otherwise, change of address or name must be made in writing
by at least one of the account holders. Informing us of your address or name change
on a check reorder form is not sufficient. We will attempt to communicate with you
only by use of the most recent address you have provided to us. If provided elsewhere,
we may impose a service fee if we attempt to locate you.
RESOLVING ACCOUNT
DISPUTES - We may place an administrative hold on the funds in your account
(refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse
to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries
of your account; or (3) a claim arising by operation of law. The hold may be placed
for such period of time as we believe reasonably necessary to allow a legal proceeding
to determine the merits of the claim or until we receive evidence satisfactory to
us that the dispute has been resolved. We will not be liable for any items that
are dishonored as a consequence of placing a hold on funds in your account for these
reasons.
WAIVER OF NOTICES -
You waive any notice of non-payment, dishonor or protest regarding any items credited
to or charged against your account.
ACH AND WIRE TRANSFERS
- This agreement is subject to Article 4A of the Uniform Commercial Code - Fund
Transfers as adopted in the state in which you have your account with us. If you
originate a fund transfer and you identify by name and number a beneficiary financial
institution, an intermediary financial institution or a beneficiary, we and 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 you, or originated by you, are provisional until final settlement is made
through a Federal Reserve Bank or payment is otherwise made as provided in Article
4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we
are entitled to a refund from you in the amount credited to your account and the
party originating such payment will not be considered to have paid the amount so
credited. Credit entries may be made by ACH. If we receive a payment order to credit
an account you have with us by wire or ACH, we are not required to give you any
notice of the payment order or credit. However, we will continue to notify you of
the receipt of payments in the periodic statements we provide to you.
UNCLAIMED PROPERTY
- The law establishes procedures under which unclaimed property must be surrendered
to the state. (We may have our own rules regarding dormant accounts, and if we charge
a fee for dormant accounts it will be disclosed to you elsewhere.) Generally, the
funds in your account are considered unclaimed if you have not had any activity
or communication with us regarding your account over a period of years. Ask us if
you want further information about the period of time or type of activity that will
prevent your account from being unclaimed. If your funds are surrendered to the
state, you may be able to reclaim them, but your claim must be presented to the
state. Once your funds are surrendered, we no longer have any liability or responsibility
with respect to the funds.
CASH TRANSACTION REPORTING
- To help law enforcement agencies detect illegal activities, the law requires
all financial institutions to gather and report information on some types of cash
transactions. If the information we need to complete the report is not provided,
we are required to refuse to handle the transaction. If you have any questions regarding
these rules, please contact your local Internal Revenue Service office.
HEALTH SAVINGS ACCOUNTS
(HSA) - For your convenience, we permit you to take distributions from
your HSA by check. This feature can raise a variety of tax concerns – for
example getting additional cash back on an HSA checking transaction. As a result,
if you have more than one account with us, it is a good practice to make sure you
are using the appropriate checkbook for the transaction. Also, it is your responsibility
to ensure your distributions and other actions related to the HSA comply with the
law, including federal tax law. As always, we recommend consulting a legal or tax
professional if you have any questions about managing your HSA. The terms of this
agreement are intended to work in conjunction with the HSA Agreement provided to
you earlier. In the event of a conflict, the terms of the HSA Agreement control.
You understand that your HSA is intended to be used for payment of qualified medical
expenses. It is your responsibility to satisfy any tax liability resulting from
use of your HSA for any purpose other than payment or reimbursement of qualified
medical expenses. We do not monitor the purpose of any transaction to or from your
HSA. Nor are we responsible for ensuring your eligibility for making contributions
or ensuring withdrawals are used for payment or reimbursement of qualified medical
expenses. Refer to your HSA Agreement for more information relating to the use of
your HSA.
_____________________________________________________________
ELECTRONIC FUND TRANSFERS
YOUR RIGHTS
AND RESPONSIBILITIES
Indicated below are types of Electronic Fund
Transfers we are capable of handling, some of which may not apply to your account.
Please read this disclosure carefully because it tells you your rights and obligations
for the transactions listed. You should keep this notice for future reference.
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 one-time occurrences or may recur as directed by you.
These transfers may use the Automated Clearing House (ACH) or other payments network.
Your authorization to the third party to make these transfers can occur in a number
of ways. For example, your authorization to convert a check to an electronic fund
transfer or to electronically pay a returned check charge can occur when a merchant
provides you with notice and you go forward with the transaction (typically, at
the point of purchase, a merchant will post a sign and print the notice on a receipt).
In all cases, these third party transfers will require you to provide the third
party with your account number and bank information. This information can
be found on your check as well as on a deposit or withdrawal slip.
Thus, you should only provide your bank and account information (whether over the
phone, the Internet, or via some other method) to trusted third parties whom you
have authorized to initiate these electronic fund transfers. Examples of these transfers
include, but are not limited to:
-
Preauthorized credits. You may
make arrangements for certain direct deposits to be accepted into your checking
or savings account(s).
-
Preauthorized payments.
You may make arrangements to pay certain recurring bills from your checking or savings
account(s).
-
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.
Please also see Limitations on frequency
of transfers section regarding limitations that apply to savings accounts.
ATM Transfers - types of transfers
and dollar limitations - You may access your account(s) by ATM using your ATM
Card and personal identification number or Check Card and personal identification
number, to:
- get cash withdrawals from checking
or savings account(s)
- you may withdraw no more than $200.00
per day
- transfer funds from savings
to checking account(s)
- transfer funds from
checking to savings account(s)
- get checking or savings
account(s) information
There is a charge per transaction at any non-network
ATM (refer to separate fee schedule).
Some of these services may not be available
at all terminals.
Please also see Limitations on frequency
of transfers section regarding limitations that apply to ATM transfers.
Types of Check Card Point-of-Sale
Transactions - You may access your checking account(s) to purchase goods (in
person, online, or by phone), pay for services (in person, online, or by phone),
get cash from a merchant, if the merchant permits, or from a participating financial
institution, and do anything that a participating merchant will accept.
Point-of-Sale Transactions - dollar
limitations - Using your card:
- you may not exceed $500.00
in transactions per day
Please also see Limitations on frequency
of transfers section regarding limitations that apply to debit card transactions.
Currency Conversion and International
Transactions. When you use your Visa® Check Card at a merchant that settles
in currency other than US dollars, the charge will be converted into the US dollar
amount. The currency conversion rate used to determine the transaction amount in
US dollars is either a rate selected by Visa from the range of rates available in
wholesale currency markets for the applicable central processing date, which rate
may vary from the rate Visa itself receives, or the government-mandated rate in
effect for the applicable central processing date. The conversion rate in effect
on the processing date may differ from the rate in effect on the transaction date
or posting date.
Visa USA charges us a .8% International
Service Assessment on all international transactions, regardless of whether there
is a currency conversion. If there is a currency conversion, the International Service
Assessment is 1% of the transaction. In either case, we pass this international
transaction fee on to you. An international transaction is a transaction where the
country of the merchant is outside the USA.
Advisory Against Illegal Use.
You agree not to use your card(s) for illegal gambling or other illegal purpose.
Display of a payment card logo by, for example, an online merchant does not necessarily
mean that transactions are lawful in all jurisdictions in which the cardholder may
be located.
NetConnect Transfers - types of
transfers - You may access your account(s) by computer through the internet
by logging onto our website at www.asbt.com and using your personal identification
number, your user identification, and your account numbers, to:
- transfer funds between checking
and savings
- make payments from checking
or savings to loan account(s) with us
- make payments from checking
to third parties
- get checking or savings
account(s) information
- get CD or IRA account(s)
information
- get loan account(s)
information
Please also see Limitations on frequency
of transfers section regarding limitations that apply to computer transfers.
Limitations on frequency of transfers.
In addition to those limitations on transfers elsewhere described, if any, the following
limitations apply:
- Transfers from a money market
account to another account or to third parties by preauthorized, automatic, telephone,
or computer transfer or by check, draft, debit card, or similar order to third parties
are limited to six per monthly statement cycle.
- Transfers from a savings
account to another account or to third parties by preauthorized, automatic, telephone,
or computer transfer or by check, draft, debit card, or similar order to third parties
are limited to six per monthly statement cycle.
FEES
- We do not charge for direct
deposits to any type of account.
Except as indicated elsewhere, we do not charge
for these electronic fund transfers.
ATM Operator/Network Fees. When you
use an ATM not owned by us, you may be charged a fee by the ATM operator or any
network used (and you may be charged a fee for a balance inquiry even if you do
not complete a fund transfer).
DOCUMENTATION
-
Terminal transfers. You can
get a receipt at the time you make a transfer to or from your account using an automated
teller machine or point-of-sale terminal. However, you may not get a receipt if
the amount of the transfer is $15 or less.
-
Preauthorized credits.
If you have arranged to have direct deposits made to your account at least once
every 60 days from the same person or company, you can call us at the telephone
number listed below to find out whether or not the deposit has been made.
-
Periodic statements.
You will get a monthly account statement from
us for your checking accounts.
You will get a monthly account statement
from us for your savings accounts, unless there are no transfers in a particular
month. In any case, you will get a statement at least quarterly.
PREAUTHORIZED PAYMENTS
-
Right to stop payment and procedure for doing so.
If you have told us in advance to make regular payments out of your account, you
can stop any of these payments. Here is how:
Call or write us at the telephone number or address
listed in this disclosure in time for us to receive your request 3 business days
or more before the payment is scheduled to be made. If you call, we may also require
you to put your request in writing and get it to us within 14 days after you call.
Please refer to our separate fee schedule
for the amount we will charge you for each stop-payment order you give.
-
Notice of varying amounts.
If these regular payments may vary in amount, the person you are going to pay will
tell you, 10 days before each payment, when it will be made and how much it will
be. (You may choose instead to get this notice only when the payment would differ
by more than a certain amount from the previous payment, or when the amount would
fall outside certain limits that you set.)
-
Liability for failure to
stop payment of preauthorized transfer. If you order us to stop one of these
payments 3 business days or more before the transfer is scheduled, and we do not
do so, we will be liable for your losses or damages.
FINANCIAL INSTITUTION'S LIABILITY
Liability for failure to make transfers.
If we do not complete a transfer to or from your account on time or in the correct
amount according to our agreement with you, we will be liable for your losses or
damages. However, there are some exceptions. We will not be liable, for instance:
- If, through no fault of ours, you do not
have enough money in your account to make the transfer.
- If you have an overdraft line and
the transfer would go over the credit limit.
- If the automated teller machine
where you are making the transfer does not have enough cash.
- If the terminal or system was not
working properly and you knew about the breakdown when you started the transfer.
- If circumstances beyond our control
(such as fire or flood) prevent the transfer, despite reasonable precautions that
we have taken.
- There may be other exceptions stated
in our agreement with you.
CONFIDENTIALITY
We will disclose information to third parties
about your account or the transfers you make:
- where it is necessary for completing transfers;
or
- in order to verify the existence
and condition of your account for a third party, such as a credit bureau or merchant;
or
- in order to comply with government
agency or court orders; or
- if you give us written permission.
UNAUTHORIZED TRANSFERS
(a) Consumer liability.
• Generally. Tell us
AT ONCE if you believe your card and/or code has been lost or stolen, or if you
believe that an electronic fund transfer has been made without your permission using
information from your check. Telephoning is the best way of keeping your possible
losses down. You could lose all the money in your account (plus your maximum overdraft
line of credit). If you tell us within 2 business days after you learn of the loss
or theft of your card and/or code, you can lose no more than $50 if someone used
your card and/or code without your permission.
If you do NOT tell us within 2 business
days after you learn of the loss or theft of your card and/or code, and we can prove
we could have stopped someone from using your card and/or code without your permission
if you had told us, you could lose as much as $500.
Also, if your statement shows transfers
that you did not make, including those made by card, code or other means, tell us
at once. If you do not tell us within 60 days after the statement was mailed 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.
•
Additional Limit
on Liability for Visa® Check Card. Unless you have been grossly negligent
or have engaged in fraud, you will not be liable for any unauthorized transactions
using your lost or stolen Visa® Check Card. This additional limit on liability
does not apply to ATM transactions outside of the U.S., to ATM transactions not
sent over Visa or Plus networks, or to transactions using your Personal Identification
Number which are not processed by VISA®. Visa is a registered trademark of Visa
International Service Association.
(b) Contact in event of unauthorized transfer.
If you believe your card and/or code has been lost or stolen, call or write us at
the telephone number or address listed in this disclosure. You should also call
the number or write to the address listed in this disclosure if you believe a transfer
has been made using the information from your check without your permission.
ERROR RESOLUTION NOTICE
In Case of Errors or Questions About Your
Electronic Transfers, Call or Write us at the telephone number or address listed
in this disclosure, 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. We must hear from you no later than 60 days after we sent the FIRST statement
on which the problem or error appeared.
- Tell us your name and account number (if
any).
- Describe the error or the transfer
you are unsure about, and explain as clearly as you can why you believe it is an
error or why you need more information.
- Tell us the dollar amount of the
suspected error.
If you tell us orally, we may require that
you send us your complaint or question in writing within 10 business days.
We will determine whether an error
occurred within 10 business days (5 business days for Visa® Check Card point-of-sale
transactions processed by Visa and 20 business days if the transfer involved a new
account) after we hear from you and will correct any error promptly. If we need
more time, however, we may take up to 45 days (90 days if the transfer involved
a new account, a point-of-sale transaction, or a foreign-initiated transfer) to
investigate your complaint or question. If we decide to do this, we will credit
your account within 10 business days (5 business days for Visa® Check Card point-of-sale
transactions processed by Visa and 20 business days if the transfer involved a new
account) for the amount you think is in error, so that 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 or question in writing and we do not receive it within 10
business days, we may not credit your account. Your account is considered a new
account for the first 30 days after the first deposit is made, unless each of you
already has an established account with us before this account is opened.
We will tell you the results within
three business days after completing our investigation. If we decide that there
was no error, we will send you a written explanation.
You may ask for copies of the documents
that we used in our investigation.
AMERICAN STATE BANK & TRUST COMPANY
223 MAIN STREET
WILLISTON, ND 58801
Phone: (701) 774-4100 or 1-800-486-8173
NORTH STATION
2523 2ND AVE W
WILLISTON, ND 58801
Phone: (701) 774-4102
Business Days: Monday through Friday
Excluding Federal Holidays
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST
_____________________________________________________________
YOUR ABILITY TO WITHDRAW FUNDS
This policy statement applies to "transaction"
accounts. Transaction accounts, in general, are accounts which permit an unlimited
number of payments to third persons and an unlimited number of telephone and preauthorized
transfers to other accounts of yours with us. Checking accounts are the most common
transaction accounts. Feel free to ask us whether any of your other accounts might
also be under this policy.
Our policy is to make funds from your
cash and check deposits available to you on the first business day after the day
we receive your deposit. Electronic direct deposits will be available on the day
we receive the deposit. Once the funds are available, you can withdraw them in cash
and we will use the funds to pay checks that you have written.
Please remember that even after we
have made funds available to you, and you have withdrawn the funds, you are still
responsible for checks you deposit that are returned to us unpaid and for any other
problems involving your deposit.
For determining the availability of
your deposits, every day is a business day, except Saturdays, Sundays, and federal
holidays. If you make a deposit before closing on a business day that we are open,
we will consider that day to be the day of your deposit. However, if you make a
deposit after closing or on a day we are not open, we will consider that the deposit
was made on the next business day we are open.
LONGER DELAYS MAY APPLY
Case-by-case delays. In some cases,
we will not make all of the funds that you deposit by check available to you on
the first business day after the day of your deposit. Depending on the type of check
that you deposit, funds may not be available until the second business day after
the day of your deposit. The first $200 of your deposits, however, will be available
on the first business day.
If we are not going to make all of
the funds from your deposit available on the first business day, we will notify
you at the time you make your deposit. We will also tell you when the funds will
be available. If your deposit is not made directly to one of our employees, or if
we decide to take this action after you have left the premises, we will mail you
the notice by the day after we receive your deposit.
If you will need the funds from a deposit
right away, you should ask us when the funds will be available.
Safeguard exceptions. In addition,
funds you deposit by check may be delayed for a longer period under the following
circumstances:
- 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 six 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 seventh business
day after the day of your deposit.
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special
rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits
to your account will be available on the day we receive the deposit. Funds from
deposits of cash, wire transfers, and the first $5,000 of a day's total deposits
of cashier's, certified, teller's, traveler's, and federal, state
and local government checks will be available on the first business day after the
day of your deposit if the deposit meets certain conditions. For example, the checks
must be payable to you (and you may have to use a special deposit slip). The excess
over $5,000 will be available on the ninth business day after the day of your deposit.
If your deposit of these checks (other than a U.S. Treasury check) is not made in
person to one of our employees, the first $5,000 will not be available until the
second business day after the day of your deposit.
Funds from all other check deposits
will be available on the eleventh business day after the day of your deposit.
_____________________________________________________________
TRUTH-IN-SAVINGS DISCLOSURE
BASIC CHECKING ACCOUNT
No minimum balance requirements.
No monthly service fee.
Unlimited check writing.
BASIC PLUS CHECKING ACCOUNT
Minimum balance to open the account -
You must deposit $250.00 to open this account.
Minimum balance to avoid imposition
of fees - A monthly service fee of $10.00 will be imposed every statement cycle
if the balance in the account falls below $250.00 any day of the cycle.
INTEREST CHECKING ACCOUNT
Rate Information - Your interest rate
and annual percentage yield may change. Frequency of rate changes - We may
change the interest rate on your account at any time.
Determination
of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest
will be compounded every month. Interest will be credited to your account every
month.
Effect of closing an account -
If you close your account before interest is credited, you may receive the accrued
interest.
Minimum balance to open the account -
You must deposit $500.00 to open this account.
Minimum balance to avoid imposition
of fees - A monthly service fee of $10.00 will be imposed every statement cycle
if the balance in the account falls below $500.00 any day of the cycle.
Minimum balance to obtain the annual
percentage yield disclosed - You must maintain a minimum balance of $500.00
in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method
- We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
PRESIDENTIAL CHECKING ACCOUNT
Rate Information - The interest rate
and annual percentage yield for your account depend upon the applicable rate tier.
The interest rate and annual percentage yield for these tiers may change. Frequency
of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our
discretion, we may change the interest rate on your account.
Compounding and crediting frequency
- Interest will be compounded every month. Interest will be credited to your
account every month.
Effect of closing an account -
If you close your account before interest is credited, you may receive the accrued
interest.
Minimum balance to open the account -
You must deposit $1,500.00 to open this account.
Minimum balance to avoid imposition
of fees - A monthly service fee of $10.00 will be imposed every statement cycle
if the balance in the account falls below $1,500.00 any day of the cycle.
Minimum balance to obtain the annual
percentage yield disclosed - You must maintain a minimum balance of $1,500.00
in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method
- We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
MONEY MARKET ACCOUNT
Rate Information - The interest rate
and annual percentage yield for your account depend upon the applicable rate tier.
The interest rate and annual percentage yield for these tiers may change. Frequency
of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our
discretion, we may change the interest rate on your account.
Compounding and crediting frequency
- Interest will be compounded every month. Interest will be credited to your
account every month.
Effect of closing an account -
If you close your account before interest is credited, you may receive the accrued
interest.
Minimum balance to open the account -
You must deposit $1,000.00 to open this account.
Minimum balance to avoid imposition
of fees - A monthly service fee of $10.00 will be imposed every statement cycle
if the balance in the account falls below $1,000.00 any day of the cycle.
Minimum balance to obtain the annual
percentage yield disclosed - You must maintain a minimum balance of $1,000.00
in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method
- We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Money Market account
to another account or to third parties by preauthorized, automatic, telephone, or
computer transfer or by check, draft, debit card, or similar order to third parties
are limited to six per monthly statement cycle. If you exceed the limit of six,
you may be charged an excess debit item fee. See our separate fee schedule.
PERSONAL SAVINGS ACCOUNT
Rate Information - The interest rate
and annual percentage yield for your account depend upon the applicable rate tier.
The interest rate and annual percentage yield for these tiers may change. Frequency
of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our
discretion, we may change the interest rate on your account.
Compounding and crediting frequency
- Interest will be compounded every quarter. Interest will be credited to your
account every quarter.
Effect of closing an account -
If you close your account before interest is credited, you may receive the accrued
interest.
Minimum balance to open the account -
You must deposit $100.00 to open this account.
Minimum balance to avoid imposition
of fees - A service fee of $10.00 will be imposed every quarter if the balance
in the account falls below $100.00 any day of the quarter.
Minimum balance to obtain the annual
percentage yield disclosed - You must maintain a minimum balance of $100.00
in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method
- We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Personal Savings account
to another account or to third parties by preauthorized, automatic, telephone, or
computer transfer or by check, draft, debit card, or similar order to third parties
are limited to six per calendar month or monthly statement cycle. If you exceed
the limit of six, you may be charged an excess debit item fee. See our separate
fee schedule.
YOUTH SAVINGS ACCOUNT
Rate Information - The interest rate and
annual percentage yield for your account depend upon the applicable rate tier. The
interest rate and annual percentage yield for these tiers may change. Frequency
of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our
discretion, we may change the interest rate on your account.
Compounding and crediting frequency
- Interest will be compounded every quarter. Interest will be credited to your
account every quarter.
Effect of closing an account -
If you close your account before interest is credited, you may receive the accrued
interest.
Minimum balance to open the account -
You must deposit $5.00 to open this account.
Minimum balance to obtain the annual
percentage yield disclosed - You must maintain a minimum balance of $5.00 in
the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method
- We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Youth Savings account
to another account or to third parties by preauthorized, automatic, telephone, or
computer transfer or by check, draft, debit card, or similar order to third parties
are limited to six per calendar month or monthly statement cycle. If you exceed
the limit of six, you may be charged an excess debit item fee. See our separate
fee schedule.
Additional Terms:
This account is for individuals ages
0 through 17.
This account will be changed to a Personal
Savings account upon the individual's 18th birthday and new terms will apply.
HSA CHECKING ACCOUNT
Rate Information - The interest rate
and annual percentage yield for your account depend upon the applicable rate tier.
The interest rate and annual percentage yield for these tiers may change. Frequency
of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our
discretion, we may change the interest rate on your account.
Compounding and crediting frequency
- Interest will be compounded every month. Interest will be credited to your
account every month.
Effect of closing an account -
If you close your account before interest is credited, you may receive the accrued
interest.
Daily balance computation method -
We use the daily balance method to calculate the interest on your account. This
method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
Fees:
An annual fee will be charged in January
of each year. See our separate fee schedule.
COMMON FEATURES
Please refer to our separate rate sheet
for current interest rate and annual percentage yield information and to our separate
fee schedule for additional information about charges.
Overdraft Fee Transaction Categories
- The categories of transactions for which an overdraft fee may be imposed are
those by any of the following means: check, in-person withdrawal, ATM withdrawal,
or other electronic means.
_____________________________________________________________
223 MAIN STREET
WILLISTON, ND 58801
(701) 774-4100
1-800-486-8173
|
NORTH STATION
2523 2ND AVE W
WILLISTON, ND 58801
(701) 774-4102
|
www.asbt.com
200884352-020 ASB&T Rev. 5/2020
© 2019 Wolters Kluwer Financial Services – Bankers Systems™
Form AIB-TIS 6/1/2016 3o Custom TCM-39t,2bh,4t