Custodial Terms Sample Clauses

Custodial Terms. (a) By accepting the terms of this Agreement, you authorize us to act as custodian on your behalf and hold your funds in a custodial capacity to facilitate deposits to, and withdrawals from, Deposit Accounts. We provide no advice to you about any CD or MMDA, or its terms, or about any Cash Account. We will act at your direction with respect to your deposits and withdrawals of your funds in any Deposit Account, subject to any requirements or restrictions imposed by the Product Bank. You understand and agree that we will not have any responsibility or liability for any such deposit until we actually receive funds in the Deposit Account, or for any withdrawal after the funds have been transferred out of the Deposit Account. (b) As your custodian, we may: (i) hold deposits of your funds in the Deposit Accounts on your behalf; (ii) comply with any legal process that we receive and that we believe to be valid; and (iii) take such other action that is necessary to perform under this Agreement. (c) To help the government fight the funding of terrorism and money laundering activities, we will obtain, verify, and record information that identifies you. We may rely on the Service Bank, Raisin, the POS, and/or any other third party to obtain, verify and record such information. What this means for you: When you enroll in the Service, you will be asked for your name, address, date of birth, and other information that will allow us, the Service Bank, Raisin, or the POS, on our behalf, to identify you. You may also be asked to provide your driver’s license or other identifying documents. You authorize us to obtain from the Service Bank, Raisin, the POS, or any other third party information including: information necessary to perform the customer identification process as described in this Section and information necessary to perform our obligations with respect to the Service and the Custodial Services.

Custodial Terms. 8 Section 2.1 Appointment of the Custodian 8

Custodial Terms