Common use of Account Ownership Clause in Contracts

Account Ownership. You may open your account in one or more names. Minors may not open accounts as sole owners. All owners must sign a permanent signature card and provide the required documentation of identity. Failure to provide us with this completed document may result in the Bank’s refusal to negotiate checks or payment orders against the account. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signature card. If we allow you to do this, you agree to indemnify and hold us harmless from and against losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, a joint account owner who has not signed the account’s signature card agrees to be bound by this Agreement, the Consumer Banking Fee Schedule, and any other applicable agreement. If any joint account owner has not provided us with a signed signature card, your joint account may not qualify as a joint account for purposes of Federal Deposit Insurance coverage under applicable law concerning inheritance or the transfer of property upon death. We reserve the right to refuse to pay or honor checks and other orders of withdrawal signed by a joint account owner who has not signed the account’s signature card. We may, in our sole discretion, convert your joint account into an individual account. Each joint account owner hereby appoints each other joint owner as his or her agent for the purpose of requesting services relating to the account, such as ATM or debit cards, Online Banking, and telephone banking.

Account Ownership. You may open The form of ownership of your account is designated on the signature card or our other deposit account records. We may rely on this designation for all purposes concerning your account. If for some reason you have not signed a signature card or we do not have your signature card, we will not be liable to you for honoring checks or other signed instructions if we believe in one good faith that the signature appearing on such checks or instructions is authorized. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, if any, specified on your account records, except as they determine to whom we pay account funds. If two or more names. Minors may not open accounts as sole owners. All owners persons desire to establish a joint account with us, each person must sign a permanent the signature card and provide the required documentation of identity. Failure to provide us with this completed document may result in the Bank’s refusal to negotiate checks or payment orders against the accountcard. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signature card. If we allow you to do this, you agree to indemnify and hold us harmless from and against losses Losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, a joint account owner who has not signed the your account’s signature card agrees to be bound by this Agreement, the Consumer Banking Fee Schedule, and any other applicable agreement. If any joint account owner has not provided us with a signed signature card, your joint account may not qualify as a joint account for purposes of Federal Deposit Insurance federal deposit insurance coverage or under applicable law Applicable Law concerning inheritance or the transfer of property upon death. We reserve the right to refuse to pay or honor checks and other orders of withdrawal signed by a joint account owner who has not signed the your account’s signature card. We may, in our sole discretion, convert your joint account into an individual account. Each joint account owner hereby appoints each other joint owner as his or her agent for the purpose of requesting services relating to the account, such as ATM or debit cards, Online Banking, and telephone banking.

Account Ownership. 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. You may open your will be asked to supply information and documentation that will allow us to identify you. Individual Account(s) - An individual account is an account in the name of one depositor only. Only that person may write checks against the account or withdraw money, regardless of who actually owns the funds. Joint Account(s) - An account with two or more names. Minors may not open accounts as sole owners. All owners must sign a permanent signature card and provide the required documentation of identity. Failure to provide us with this completed document may result in the Bank’s refusal to negotiate checks or payment orders against the account. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signature card. If we allow you to do this, you agree to indemnify and hold us harmless from and against losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, holders is a joint account owner who has with the right of survivorship. TEACHERS FEDERAL CREDIT UNION is hereby authorized to recognize any of the signatures subscribed hereto in the payment of funds, or the transaction of any business for this account. The joint owners of this account hereby agree with each other and with Teachers Federal Credit Union that any additions to the account are the property of the owners as joint tenants with rights of survivorship and are subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge the Credit Union from any liability for such payment. Fiduciary & Business Accounts - With respect to all fiduciary accounts, including but not signed the account’s signature card agrees limited to be bound by this Agreementestate accounts, the Consumer Banking Fee Scheduleguardianship accounts, and conservatorship accounts, and any other applicable agreement. If any joint account owner has not provided us with a signed signature cardFormal Trust Account, your joint account may not qualify as a joint account for purposes of Federal Deposit Insurance coverage under applicable law concerning inheritance Uniform Transfers to Minors Act Accounts, or the transfer of property upon death. We Business Account, we reserve the right to refuse require such documents and authorizations as we may deem necessary or appropriate to pay satisfy us that the person(s) requesting or honor checks directing the withdrawal of funds held in the account have the authority to withdraw such funds. This applies at the time of account opening and other orders at all times thereafter. Account Provisions - Any or all of withdrawal signed the joint owners may pledge all or any part of the shares/funds in this account as collateral to any loan(s) issued by a joint account owner who has Teachers Federal Credit Union. The right or authority of the Credit Union under this agreement shall not signed be changed or terminated by the account’s signature card. We mayowners, in our sole discretionor any of them, convert your joint account into an individual account. Each joint account owner hereby appoints each other joint owner as his or her agent for the purpose of requesting services relating except by written notice to the account, such as ATM or debit cards, Online Banking, and telephone bankingTeachers Federal Credit Union which shall not affect transactions therefore made.

Account Ownership. You may open The form of ownership of your account is designated on the signature card or our other deposit account records. We may rely on this designation for all purposes concerning your account. If for some reason you have not signed a signature card or we do not have your signature card, we will not be liable to you for honoring checks or other signed instructions if we believe in one good faith that the signature appearing on such checks or instructions is authorized. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, if any, specified on your account records, except as they determine to whom we pay account funds. If two or more names. Minors may not open accounts as sole owners. All owners persons desire to establish a joint account with us, each person must sign a permanent the signature card and provide the required documentation of identity. Failure to provide us with this completed document may result in the Bank’s refusal to negotiate checks or payment orders against the accountcard. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signature card. If we allow you to do this, you agree to indemnify and hold us harmless from and against losses Losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, a joint account owner who has not signed the your account’s signature card agrees to be bound by this Agreement, the Consumer Banking Fee Schedule, and any other applicable agreement. If any joint account owner has not provided us with a signed signature card, your joint account may not qualify as a joint account for purposes of Federal Deposit Insurance federal deposit insurance coverage under applicable law concerning inheritance or the transfer of property upon death. We reserve the right to refuse to pay or honor checks and other orders of withdrawal signed by a joint account owner who has not signed the account’s signature card. We may, in our sole discretion, convert your joint account into an individual account. Each joint account owner hereby appoints each other joint owner as his or her agent for the purpose of requesting services relating to the account, such as ATM or debit cards, Online Banking, and telephone banking.under