Common use of Available Balance Clause in Contracts

Available Balance. Mechanics Bank uses the following to determine the balance that is available to pay items to your account each day. First, we take your present balance, which is your balance at the end of the previous business day (also called your current or ledger balance). This will be the balance that appears on your Bank statement each day. Then, we add or subtract any transactions known to the Bank that you’ve made to your account today (e.g., deposits, debit card transactions, ATM withdrawals, and payments scheduled for today). It does not include any checks you may have written but have not yet been cashed. The remaining balance, less any holds placed on deposits, is your Available Balance (also called your collected balance). The Available Balance used for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance (previous day’s statement balance), plus deposits, less any holds on deposited funds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege limit. For accounts with Extended Coverage, your Overdraft Privilege limit will be considered when authorizing ATM and everyday debit card transactions. BUSINESS DAYS For the purpose of this Agreement, our business days are Monday through Friday, excluding Saturdays, Sundays, and federal holidays. CASH REPORTING REQUIREMENT The Bank Secrecy Act (“BSA”), a federal law, requires all financial institutions to report certain currency transactions to the Financial Crimes Enforcement Network (“FinCEN”). In order to satisfy our BSA requirement, we may, and, in many cases must, request certain information about the individual presenting the transaction, as well as the organization or individual for whom the transaction is being conducted. This includes the individual’s/organization’s full name, permanent street address, social security number or other taxpayer identification number, identification number (such as a driver’s license or passport), date of birth (if applicable), and business, occupation or profession. If you or another person deposits cash to your account and are unwilling to provide information we request to fulfill our reporting duties, we will refuse the transaction. CHANGE OF ACCOUNT OWNERSHIP, ADDRESS OR AUTHORIZED SIGNERS You agree to notify us immediately in writing of any change in your name, address, email address (if provided), or authorized signer(s) on your account. We may require a new signature card or other documentation before affecting any change in ownership or authorized signer(s) and we may rely on our account records to determine the ownership of your account. If the authorized signer(s) on your account changes, we may continue to honor items and instructions given earlier by any previously authorized signer(s) until we receive specific notice from you in writing not to do so (Note: a new or updated signature card, by itself, does not constitute notice to terminate any pre-existing payment or transfer plan). We do not change the mailing address of record we have for you if we receive an address change notice from the U.S. Postal Service. Each account holder is responsible for notifying us of any address change. The address is changed only for the accounts you specify and does not affect your other account relationships with us unless you specify that you want the address changed for those accounts, as well. We are only required to attempt to communicate with you using the address you have provided to us. If sent statements or other Bank documents are returned indicating an incorrect address, and we are not notified of the new address after 90 days, you authorize us, at our discretion, to block your account until we can verify your correct address.

Available Balance. Mechanics Bank uses the following to determine the balance that is available to pay items to your account each day. First, we take your present balance, which is your balance at the end of the previous business day (also called your current or ledger balance). This will be the balance that appears on your Bank statement each day. Then, we add or subtract any transactions known to the Bank that you’ve made to your account today (e.g., deposits, debit card transactions, ATM withdrawals, and payments scheduled for today). It does not include any checks you may have written but have not yet been cashed. The remaining balance, less any holds placed on deposits, is your Available Balance (also called your collected balance). The Available Balance used for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance (previous day’s statement balance), plus deposits, less any holds on deposited funds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege limit. For accounts with Extended Coverage, your Overdraft Privilege limit will be considered when authorizing ATM and everyday debit card transactions. BENEFICIAL OWNERSHIP DISCLOSURE REQUIREMENT Effective May 11, 2018, all covered financial institutions, including Mechanics Bank, are required to adopt due diligence procedures to identify and verify a legal entity customer’s beneficial owner(s) and one person with control over the legal entity at the time a new account is opened, including when an auto-renewing account is renewed, and when a change in ownership, control, or beneficial ownership information has changed (for example, a change in physical address). In order to satisfy these requirements, we may, and, in many cases must, request certain information about the individuals who maintain control of and/or beneficial ownership in, a legal entity account holder. This includes the individual’s full name, permanent physical street address, social security number or other taxpayer identification number and identification number (such as a driver’s license or passport). We may, and, in many cases must, request a certification from the person opening the account or making changes on behalf of the legal entity account holder to comply with these rules. You agree to promptly and proactively notify us if any information you provided in accordance with the beneficial ownership rules has changed. BUSINESS DAYS For the purpose of this Agreement, our business days are Monday through Friday, excluding Saturdays, Sundays, and federal holidays. CASH REPORTING REQUIREMENT The Bank Secrecy Act (“BSA”), a federal law, requires all financial institutions to report certain currency transactions to the Financial Crimes Enforcement Network (“FinCEN”). In order to satisfy our BSA requirement, we may, and, in many cases must, request certain information about the individual presenting the transaction, as well as the organization or individual for whom the transaction is being conducted. This includes the individual’s/organization’s full name, permanent street address, social security number or other taxpayer identification number, identification number (such as a driver’s license or passport), date of birth (if applicable), and business, occupation or profession. If you or another person deposits cash to your account and are unwilling to provide information we request to fulfill our reporting duties, we will refuse the transaction. CHANGE OF ACCOUNT OWNERSHIP, ADDRESS OR AUTHORIZED SIGNERS You agree to notify us immediately in writing of any change in your name, address, email address (if provided), or authorized signer(s) on your account. We may require a new signature card or other documentation before affecting any change in ownership or authorized signer(s) and we may rely on our account records to determine the ownership of your account. If the authorized signer(s) on your account changes, we may continue to honor items and instructions given earlier by any previously authorized signer(s) until we receive specific notice from you in writing not to do so (Note: a new or updated signature card, by itself, does not constitute notice to terminate any pre-existing payment or transfer plan). We do not change the mailing address of record we have for you if we receive an address change notice from the U.S. Postal Service. Each account holder is responsible for notifying us of any address change. The address is changed only for the accounts you specify and does not affect your other account relationships with us unless you specify that you want the address changed for those accounts, as well. We are only required to attempt to communicate with you using the address you have provided to us. If sent statements or other Bank documents are returned indicating an incorrect address, and we are not notified of the new address after 90 days, you authorize us, at our discretion, to block your account until we can verify your correct address.

Available Balance. Mechanics Bank uses the following to determine the balance that is available to pay items to your account each day. First, we take your present balance, which is your balance at the end of the previous business day (also called your current or ledger balance). This will be the balance that appears on your Bank statement each day. Then, we add or subtract any transactions known to the Bank that you’ve made to your account today (e.g., deposits, debit card transactions, ATM withdrawals, and payments scheduled for today). It does not include any checks you may have written but have not yet been cashed. The remaining balance, less any holds placed on deposits, is your Available Balance (also called your collected balance). The Available Balance used for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance (previous day’s statement balance), plus deposits, less any holds on deposited funds, plus any available Overdraft Protection, but does NOT include the Overdraft Privilege limit. For accounts with Extended Coverage, your Overdraft Privilege limit will be considered when authorizing ATM and everyday debit card transactionstransactions . BENEFICIAL OWNERSHIP DISCLOSURE REQUIREMENT Effective May 11, 2018, all covered financial institutions, including Mechanics Bank, are required to adopt due diligence procedures to identify and verify a legal entity customer’s beneficial owner(s) and one person with control over the legal entity at the time a new account is opened, including when an auto-renewing account is renewed, and when a change in ownership, control, or beneficial ownership information has changed (for example, a change in physical address). In order to satisfy these requirements, we may, and, in many cases must, request certain information about the individuals who maintain control of and/or beneficial ownership in, a legal entity account holder. This includes the individual’s full name, permanent physical street address, social security number or other taxpayer identification number and identification number (such as a driver’s license or passport). We may, and, in many cases must, request a certification from the person opening the account or making changes on behalf of the legal entity account holder to comply with these rules. You agree to promptly and proactively notify us if any information you provided in accordance with the beneficial ownership rules has changed. BUSINESS DAYS For the purpose of this Agreement, our business days are Monday through Friday, excluding Saturdays, Sundays, and federal holidays. CASH REPORTING REQUIREMENT The Bank Secrecy Act (“BSA”), a federal law, requires all financial institutions to report certain currency transactions to the Financial Crimes Enforcement Network (“FinCEN”). In order to satisfy our BSA requirement, we may, and, in many cases must, request certain information about the individual presenting the transaction, as well as the organization or individual for whom the transaction is being conducted. This includes the individual’s/organization’s full name, permanent street address, social security number or other taxpayer identification number, identification number (such as a driver’s license or passport), date of birth (if applicable), and business, occupation or profession. If you or another person deposits cash to your account and are unwilling to provide information we request to fulfill our reporting duties, we will refuse the transaction. CHANGE OF ACCOUNT OWNERSHIP, ADDRESS OR AUTHORIZED SIGNERS You agree to notify us immediately in writing of any change in your name, address, email address (if provided), or authorized signer(s) on your account. We may require a new signature card or other documentation before affecting any change in ownership or authorized signer(s) and we may rely on our account records to determine the ownership of your account. If the authorized signer(s) on your account changes, we may continue to honor items and instructions given earlier by any previously authorized signer(s) until we receive specific notice from you in writing not to do so (Note: a new or updated signature card, by itself, does not constitute notice to terminate any pre-existing payment or transfer plan). We do not change the mailing address of record we have for you if we receive an address change notice from the U.S. Postal Service. Each account holder is responsible for notifying us of any address change. The address is changed only for the accounts you specify and does not affect your other account relationships with us unless you specify that you want the address changed for those accounts, as well. We are only required to attempt to communicate with you using the address you have provided to us. If sent statements or other Bank documents are returned indicating an incorrect address, and we are not notified of the new address after 90 days, you authorize us, at our discretion, to block your account until we can verify your correct address.

Available Balance. Mechanics Bank uses the following to determine the Your available balance that is available to pay items to your account each day. First, we take your present balance, which is your actual balance at the end of the previous business day less: (also called your current or ledger balance). This will be the balance that appears on your Bank statement each day. Then, we add or subtract any transactions known to the Bank that you’ve made to your account today (e.g., deposits, debit card transactions, ATM withdrawals, and payments scheduled for today). It does not include any checks you may have written but have not yet been cashed. The remaining balance, less any i) holds placed on deposits, is your Available Balance ; (also called your collected balance). The Available Balance used for ATM and everyday ii) holds on debit card or other transactions on accounts with Standard Coverage is the ledger balance that have been authorized but are not yet posted; and (previous day’s statement balance)iii) any other holds, plus deposits, less any such as holds on deposited related to pledges of account funds, plus any minimum balance requirements, or to comply with court orders. We use your available Overdraft Protectionbalance to determine whether there are sufficient funds in your account to pay items, but does NOT include the Overdraft Privilege limit. For accounts with Extended Coverage, your Overdraft Privilege limit will be considered when authorizing ATM including checks and everyday debit card transactions. BUSINESS DAYS For the purpose of this Agreement, our business days are Monday through Friday, excluding Saturdays, Sundays, and federal holidays. CASH REPORTING REQUIREMENT The Bank Secrecy Act (“BSA”), a federal law, requires all financial institutions to report certain currency transactions to the Financial Crimes Enforcement Network (“FinCEN”). In order to satisfy our BSA requirement, we may, and, in many cases must, request certain information about the individual presenting the transactiondrafts, as well as ACH, debit card and other electronic transactions. You may check your available balance online, by calling us, or by visiting a Credit Union ATM. Withdrawal Restrictions. The Credit Union will permit a withdrawal only if you have sufficient available funds in your account to cover the organization full amount of the withdrawal or individual for whom the transaction is being conductedhave an established overdraft protection plan. This includes the individual’s/organization’s full nameChecks, permanent street address, social security number transfers or other taxpayer identification number, identification number (such payment orders that are drawn against insufficient available funds will be subject to a service charge set forth in the Rate Addendum and Schedule of Fees and Charges. You understand and agree that multiple attempts may be made to submit an item for payment and that multiple fees may be charged to you as a driver’s license or passportresult of these represented item(s), date of birth (if applicable), and business, occupation or profession. If there are sufficient available funds to cover some but not all of your withdrawal orders, the Credit Union may allow those withdrawals for which there are sufficient available funds in any order at the Credit Union's discretion. The Credit Union may also refuse to allow a withdrawal in other cases. For example, any dispute between the owners about the account (unless a court has ordered the Credit Union to allow the withdrawal); a legal garnishment or attachment is served; the account secures an obligation to the Credit Union; any required documentation has not been presented; or you or another person deposits cash fail to your account and are unwilling repay a Credit Union loan on time. You may be advised of the reasons for refusal if such action is taken. The Credit Union reserves the right to provide information we request require members to fulfill our reporting duties, we will refuse the transaction. CHANGE OF ACCOUNT OWNERSHIP, ADDRESS OR AUTHORIZED SIGNERS You agree to notify us immediately give notice in writing of any change in your name, address, email address intended withdrawals from any account (if provided), or authorized signer(sexcept checking accounts) on your account. We may require a new signature card or other documentation before affecting any change in ownership or authorized signer(sof no less than seven (7) days and we may rely on our account records up to determine the ownership of your account. If the authorized signer(ssixty (60) on your account changes, we may continue to honor items and instructions given earlier by any previously authorized signer(s) until we receive specific notice from you in writing not to do so (Note: a new or updated signature card, by itself, does not constitute notice to terminate any pre-existing payment or transfer plan). We do not change the mailing address of record we have for you if we receive an address change notice from the U.S. Postal Service. Each account holder is responsible for notifying us of any address change. The address is changed only for the accounts you specify and does not affect your other account relationships with us unless you specify that you want the address changed for those accountsdays, as wellrequired by law, before such withdrawal. We are only required to attempt to communicate with you using the address you have provided to us. If sent statements or other Bank documents are returned indicating an incorrect address, and we are not notified of the new address after 90 days, you authorize us, at our discretion, to block your account until we can verify your correct address.OVERDRAFTS