Common use of Deposit Errors and Adjustments Clause in Contracts

Deposit Errors and Adjustments. If we are notified that an electronic deposit sent from another institution to your account tells us it was a mistake, or was intended for another member or account, we may deduct the amount from your balance without investigating. If we mistakenly credit your account for funds to which you are not the rightful owner, we may deduct those funds from your account, even if this causes your account to be overdrawn. We may do so at any time and without prior notice to you. If you give us cash that we later determined to be counterfeit, we may charge your account for the amount we determined to be counterfeit. Notice of Electronic Deposits When we receive an electronic deposit to your account, the only notice you will receive from us is on your next statement. You may visit xxxxxxxxxxxxxxx.xxx or Wellby mobile app, use Account Alerts, or call us to confirm that we have received a deposit. Accrual of Dividends When you make a deposit, dividends begin to accrue on the day your deposit is posted. However, if your transaction requires adjustments to include a returned deposit, we reserve the right to make dividend adjustments, and you may be charged a fee. Balance Methods As used in this Agreement, the “average daily balance” method means “the application of a periodic rate to the average daily balance in the account for the period, determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.” The “daily balance” method means “the application of a daily periodic rate to the full amount of principal in the account each day.” Please refer to your Truth in Savings Account Disclosure to review the balance method that is used to calculate dividends for your accounts. Balance Computation Method The “daily balance method” is used to calculate dividends on your accounts. This method applies to a daily rate to the principal in the accounts. The daily rate is 1/365 of the dividend rate. Dividend Calculation Method: Dividends accrue from the day the deposit is posted up to the day of withdrawal. Dividends are calculated using the daily balance method which applies a daily rate to the end of day balance in the account. The daily rate is 1/365 of the dividend rate, or in a leap year, we may use 1/366 of the interest rate. Checks Check Processing Checks and debits are presented against your checking account in order of arrival sequence throughout the day. To avoid fees, you should ensure that your Account contains sufficient available funds at all times to pay each of your transactions. You authorize us to pay checks signed by you and charge the payments against the applicable Account. If an instrument (check) contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. We have no duty to prevent a check from being presented more than once. You agree to complete checks using a non- gel, black or dark blue ink that will readily transfer during any imaging of the check. For other members of Wellby, you agree that we may refuse to cash a check drawn on your Account if the member seeking to cash the check at a Wellby Solution Center is not a Member in Good Standing. Further, you agree such refusal (or other action such as requiring the check to be deposited into the other member’s account at Wellby) shall not constitute wrongful dishonor. Check Orders We offer checks through our authorized vendor. If you elect to have your checks printed by a vendor that has not been approved by the Credit Union, or you use check stock or features (e.g., security features) that cause critical data to disappear or be obscured upon truncation, you agree to bear the risk of loss. You also agree to bear the risk of loss if you use check stock that contains printing inaccuracies, faulty magnetic ink, faulty encoding or duplicate serial numbers. Check Copies Checks drawn on your Account will not be returned to you. We will make copies available to you upon your request subject to any fee disclosed in the Fee Schedule, alternatively you may access copies via Wellby Online Banking at no additional charge. You agree that your duty to examine statements promptly and your obligation to notify us in the event of any error is not waived or diminished in any respect by our retention of checks drawn on your Account. Review of Check Images and Signatures You acknowledge that we employ an automated collection procedure in order to more efficiently handle the high volume of items we process, and for that reason our procedures generally do not include sight-review of items. You acknowledge and agree that reasonable commercial standards do not require us to sight review every check presented and that any failure to sight review does not constitute a lack of ordinary care in the payment of any item. If we return a check because we believe it doesn’t match your signature on file with us, we’re not liable to you even if you authorized the check. Incomplete, Conditional, Post-Dated, or Stale-Dated Checks You agree not to write a check that’s incomplete, post-dated or attempts to limit the time or method of payment with a condition, such as “Void after 180 days” or “Valid only for $1,000 or less.” We have no duty to discover, observe or comply with these conditions and may pay such checks. If we pay a conditional check, the conditions do not apply to us. If a post-dated check (check data in the future), is presented for payment, we may pay the check and charge it to your account even if it is presented for payment before the date stated on the check. If you do not want us to pay the check you must place a stop payment order on it. We are under no obligation to pay a check that is presented for payment more than six (6) months from its date. In the event that a check drawn on your Account is payable by its terms within a stated period of time, we are under no obligation to pay that check if it is presented after the expiration of that time period. However, we may pay the item in good faith as long as there is not a stop payment order in effect when we pay the item. You shall indemnify and hold us harmless from any and all loss and liability that we may incur due to our inadvertent payment of incomplete, stale-dated, postdated items, items indorsed "without recourse," or conditional items. You agree that we will not have any duty to discover or comply with postdated, future dated, incomplete, or conditional items. You agree that we may disregard any information on any check or draft other than the amount of the item, the identity of the drawee bank, any magnetically encoded information, and the signature of the drawer, regardless of whether that information is consistent with any other information on the item. You agree that we may decline to accept, process or pay any item or order that, in our estimation, is ambiguous or otherwise unclear in its terms. You also agree that, at our option, we may use our best efforts to resolve any such ambiguity and you agree to release and hold us harmless from any and all loss and liability that we may incur or that may arise in connection with our attempts to resolve any such ambiguity. Electronically Created Items (ECI) You agree not to deposit an ECI. You warrant that any item you deposit, including by means of mobile banking, has been created from a paper check, was authorized by the account holder, and will not be presented more than once. If you deposit or create for deposit an ECI, you agree to indemnify the Credit Union for any liability or loss resulting from a breach of any of these warranties and to fully reimburse the Credit Union for all losses incurred, including any loss due to the item not being derived from paper. Foreign Items, Currency Conversion and Collection Item Processing Foreign Items: A foreign item is a check or other item in any currency (including United States dollars) that is drawn on a financial institution located outside of the United States. A foreign currency is any currency other than United States dollars. Some foreign items are payable in United States dollars and others are payable in a foreign currency. You should be cautious about accepting foreign items because foreign items are not subject to United States laws or regulations. A foreign item may be returned unpaid much later (sometimes many months later) then checks or other items that are drawn on financial institutions in the United States. If a foreign item is returned to us unpaid or there is some other problem with the foreign item, you are responsible for the item and you may incur a loss. Foreign Currency Conversion: Exchange rates fluctuate, at times significantly, you acknowledge and accept all risks that may result from such fluctuations. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us our sole discretion based on upon such factors as we determine relevant without limitations including without limitation market conditions, exchange rate charged by other parties please, market risk, and other market conditions, and is subject to change at anytime without notice. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. We do not accept any liability for our exchange rates. Any and all liability for our exchange rates is disclaimed.

Deposit Errors and Adjustments. If we are notified that an electronic deposit sent from another institution to your account tells us it was a mistake, or was intended for another member or account, we may deduct the amount from your balance without investigating. If we mistakenly credit your account for funds to which you are not the rightful owner, we may deduct those funds from your account, even if this causes your account to be overdrawn. We may do so at any time and without prior notice to you. If you give us cash that we later determined to be counterfeit, we may charge your account for the amount we determined to be counterfeit. Notice of Electronic Deposits When we receive an electronic deposit to your account, the only notice you will receive from us is on your next statement. You may visit xxxxxxxxxxxxxxx.xxx or Wellby mobile app, use Account Alerts, or call us to confirm that we have received a deposit. Accrual of Dividends When you make a deposit, dividends begin to accrue on the day your deposit is posted. However, if your transaction requires adjustments to include a returned deposit, we reserve the right to make dividend adjustments, and you may be charged a fee. Balance Methods As used in this Agreement, the “average daily balance” method means “the application of a periodic rate to the average daily balance in the account for the period, determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.” The “daily balance” method means “the application of a daily periodic rate to the full amount of principal in the account each day.” Please refer to your Truth in Savings Account Disclosure to review the balance method that is used to calculate dividends for your accounts. Balance Computation Method The “daily balance method” is used to calculate dividends on your accounts. This method applies to a daily rate to the principal in the accounts. The daily rate is 1/365 of the dividend rate. Dividend Calculation Method: Dividends accrue from the day the deposit is posted up to the day of withdrawal. Dividends are calculated using the daily balance method which applies a daily rate to the end of day balance in the account. The daily rate is 1/365 of the dividend rate, or in a leap year, we may use 1/366 of the interest rate. Checks Check Processing Checks and debits are presented against your checking account in order of arrival sequence throughout the day. To avoid fees, you should ensure that your Account contains sufficient available funds at all times to pay each of your transactions. You authorize us to pay checks signed by you and charge the payments against the applicable Account. If an instrument (check) contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. We have no duty to prevent a check from being presented more than once. You agree to complete checks using a non- gel, black or dark blue ink that will readily transfer during any imaging of the check. For other members of Wellby, you agree that we may refuse to cash a check drawn on your Account if the member seeking to cash the check at a Wellby Solution Center Branch is not a Member in Good Standing. Further, you agree such refusal (or other action such as requiring the check to be deposited into the other member’s account at Wellby) shall not constitute wrongful dishonor. Check Orders We offer checks through our authorized vendor. If you elect to have your checks printed by a vendor that has not been approved by the Credit Union, or you use check stock or features (e.g., security features) that cause critical data to disappear or be obscured upon truncation, you agree to bear the risk of loss. You also agree to bear the risk of loss if you use check stock that contains printing inaccuracies, faulty magnetic ink, faulty encoding or duplicate serial numbers. Check Copies Checks drawn on your Account will not be returned to you. We will make copies available to you upon your request subject to any fee disclosed in the Fee Schedule, alternatively you may access copies via Wellby Online Banking at no additional charge. You agree that your duty to examine statements promptly and your obligation to notify us in the event of any error is not waived or diminished in any respect by our retention of checks drawn on your Account. Review of Check Images and Signatures You acknowledge that we employ an automated collection procedure in order to more efficiently handle the high volume of items we process, and for that reason our procedures generally do not include sight-review of items. You acknowledge and agree that reasonable commercial standards do not require us to sight review every check presented and that any failure to sight review does not constitute a lack of ordinary care in the payment of any item. If we return a check because we believe it doesn’t match your signature on file with us, we’re not liable to you even if you authorized the check. Incomplete, Conditional, Post-Dated, or Stale-Dated Checks You agree not to write a check that’s incomplete, post-dated or attempts to limit the time or method of payment with a condition, such as “Void after 180 days” or “Valid only for $1,000 or less.” We have no duty to discover, observe or comply with these conditions and may pay such checks. If we pay a conditional check, the conditions do not apply to us. If a post-dated check (check data in the future), is presented for payment, we may pay the check and charge it to your account even if it is presented for payment before the date stated on the check. If you do not want us to pay the check you must place a stop payment order on it. We are under no obligation to pay a check that is presented for payment more than six (6) months from its date. In the event that a check drawn on your Account is payable by its terms within a stated period of time, we are under no obligation to pay that check if it is presented after the expiration of that time period. However, we may pay the item in good faith as long as there is not a stop payment order in effect when we pay the item. You shall indemnify and hold us harmless from any and all loss and liability that we may incur due to our inadvertent payment of incomplete, stale-dated, postdated items, items indorsed "without recourse," or conditional items. You agree that we will not have any duty to discover or comply with postdated, future dated, incomplete, or conditional items. You agree that we may disregard any information on any check or draft other than the amount of the item, the identity of the drawee bank, any magnetically encoded information, and the signature of the drawer, regardless of whether that information is consistent with any other information on the item. You agree that we may decline to accept, process or pay any item or order that, in our estimation, is ambiguous or otherwise unclear in its terms. You also agree that, at our option, we may use our best efforts to resolve any such ambiguity and you agree to release and hold us harmless from any and all loss and liability that we may incur or that may arise in connection with our attempts to resolve any such ambiguity. Electronically Created Items (ECI) You agree not to deposit an ECI. You warrant that any item you deposit, including by means of mobile banking, has been created from a paper check, was authorized by the account holder, and will not be presented more than once. If you deposit or create for deposit an ECI, you agree to indemnify the Credit Union for any liability or loss resulting from a breach of any of these warranties and to fully reimburse the Credit Union for all losses incurred, including any loss due to the item not being derived from paper. Foreign Items, Currency Conversion and Collection Item Processing Foreign Items: A foreign item is a check or other item in any currency (including United States dollars) that is drawn on a financial institution located outside of the United States. A foreign currency is any currency other than United States dollars. Some foreign items are payable in United States dollars and others are payable in a foreign currency. You should be cautious about accepting foreign items because foreign items are not subject to United States laws or regulations. A foreign item may be returned unpaid much later (sometimes many months later) then checks or other items that are drawn on financial institutions in the United States. If a foreign item is returned to us unpaid or there is some other problem with the foreign item, you are responsible for the item and you may incur a loss. Foreign Currency Conversion: Exchange rates fluctuate, at times significantly, you acknowledge and accept all risks that may result from such fluctuations. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us our sole discretion based on upon such factors as we determine relevant without limitations including without limitation market conditions, exchange rate charged by other parties please, market risk, and other market conditions, and is subject to change at anytime without notice. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. We do not accept any liability for our exchange rates. Any and all liability for our exchange rates is disclaimed.

Deposit Errors and Adjustments. If we are notified that an electronic deposit sent from another institution to your account tells us it was a mistake, or was intended for another member or account, we may deduct the amount from your balance without investigating. If we mistakenly credit your account for funds to which you are not the rightful owner, we may deduct those funds from your account, even if this causes your account to be overdrawn. We may do so at any time and without prior notice to you. If you give us cash that we later determined to be counterfeit, we may charge your account for the amount we determined to be counterfeit. Notice of Electronic Deposits When we receive an electronic deposit to your account, the only notice you will receive from us is on your next statement. You may visit xxxxxxxxxxxxxxx.xxx or Wellby mobile app, use Account Alerts, or call us to confirm that we have received a deposit. Accrual of Dividends When you make a deposit, dividends begin to accrue on the day your deposit is posted. However, if your transaction requires adjustments to include a returned deposit, we reserve the right to make dividend adjustments, and you may be charged a fee. Balance Methods As used in this Agreement, the “average daily balance” method means “the application of a periodic rate to the average daily balance in the account for the period, determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.” The “daily balance” method means “the application of a daily periodic rate to the full amount of principal in the account each day.” Please refer to your Truth in Savings Account Disclosure to review the balance method that is used to calculate dividends for your accounts. Balance Computation Method The “daily balance method” is used to calculate dividends on your accounts. This method applies to a daily rate to the principal in the accounts. The daily rate is 1/365 of the dividend rate. Dividend Calculation Method: Dividends accrue from the day the deposit is posted up to the day of withdrawal. Dividends are calculated using the daily balance method which applies a daily rate to the end of day balance in the account. The daily rate is 1/365 of the dividend rate, or in a leap year, we may use 1/366 of the interest rate. Checks Check Processing Checks and debits are presented against your checking account in order of arrival sequence throughout the day. To avoid fees, you should ensure that your Account contains sufficient available funds at all times to pay each of your transactions. You authorize us to pay checks signed by you and charge the payments against the applicable Account. If an instrument (check) contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. We have no duty to prevent a check from being presented more than once. You agree to complete checks using a non- gel, black or dark blue ink that will readily transfer during any imaging of the check. For other members of Wellby, you agree that we may refuse to cash a check drawn on your Account if the member seeking to cash the check at a Wellby Solution Center branch is not a Member in Good Standing. Further, you agree such refusal (or other action such as requiring the check to be deposited into the other member’s account at Wellby) shall not constitute wrongful dishonor. Check Orders We offer checks through our authorized vendor. If you elect to have your checks printed by a vendor that has not been approved by the Credit Union, or you use check stock or features (e.g., security features) that cause critical data to disappear or be obscured upon truncation, you agree to bear the risk of loss. You also agree to bear the risk of loss if you use check stock that contains printing inaccuracies, faulty magnetic ink, faulty encoding or duplicate serial numbers. Check Copies Checks drawn on your Account will not be returned to you. We will make copies available to you upon your request subject to any fee disclosed in the Fee Schedule, alternatively you may access copies via Wellby Online Banking at no additional charge. You agree that your duty to examine statements promptly and your obligation to notify us in the event of any error is not waived or diminished in any respect by our retention of checks drawn on your Account. Review of Check Images and Signatures You acknowledge that we employ an automated collection procedure in order to more efficiently handle the high volume of items we process, and for that reason our procedures generally do not include sight-review of items. You acknowledge and agree that reasonable commercial standards do not require us to sight review every check presented and that any failure to sight review does not constitute a lack of ordinary care in the payment of any item. If we return a check because we believe it doesn’t match your signature on file with us, we’re not liable to you even if you authorized the check. Incomplete, Conditional, Post-Dated, or Stale-Dated Checks You agree not to write a check that’s incomplete, post-dated or attempts to limit the time or method of payment with a condition, such as “Void after 180 days” or “Valid only for $1,000 or less.” We have no duty to discover, observe or comply with these conditions and may pay such checks. If we pay a conditional check, the conditions do not apply to us. If a post-dated check (check data in the future), is presented for payment, we may pay the check and charge it to your account even if it is presented for payment before the date stated on the check. If you do not want us to pay the check you must place a stop payment order on it. We are under no obligation to pay a check that is presented for payment more than six (6) months from its date. In the event that a check drawn on your Account is payable by its terms within a stated period of time, we are under no obligation to pay that check if it is presented after the expiration of that time period. However, we may pay the item in good faith as long as there is not a stop payment order in effect when we pay the item. You shall indemnify and hold us harmless from any and all loss and liability that we may incur due to our inadvertent payment of incomplete, stale-dated, postdated items, items indorsed "without recourse," or conditional items. You agree that we will not have any duty to discover or comply with postdated, future dated, incomplete, or conditional items. You agree that we may disregard any information on any check or draft other than the amount of the item, the identity of the drawee bank, any magnetically encoded information, and the signature of the drawer, regardless of whether that information is consistent with any other information on the item. You agree that we may decline to accept, process or pay any item or order that, in our estimation, is ambiguous or otherwise unclear in its terms. You also agree that, at our option, we may use our best efforts to resolve any such ambiguity and you agree to release and hold us harmless from any and all loss and liability that we may incur or that may arise in connection with our attempts to resolve any such ambiguity. Electronically Created Items (ECI) You agree not to deposit an ECI. You warrant that any item you deposit, including by means of mobile banking, has been created from a paper check, was authorized by the account holder, and will not be presented more than once. If you deposit or create for deposit an ECI, you agree to indemnify the Credit Union for any liability or loss resulting from a breach of any of these warranties and to fully reimburse the Credit Union for all losses incurred, including any loss due to the item not being derived from paper. Foreign Items, Currency Conversion and Collection Item Processing Foreign Items: A foreign item is a check or other item in any currency (including United States dollars) that is drawn on a financial institution located outside of the United States. A foreign currency is any currency other than United States dollars. Some foreign items are payable in United States dollars and others are payable in a foreign currency. You should be cautious about accepting foreign items because foreign items are not subject to United States laws or regulations. A foreign item may be returned unpaid much later (sometimes many months later) then checks or other items that are drawn on financial institutions in the United States. If a foreign item is returned to us unpaid or there is some other problem with the foreign item, you are responsible for the item and you may incur a loss. Foreign Currency Conversion: Exchange rates fluctuate, at times significantly, you acknowledge and accept all risks that may result from such fluctuations. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us our sole discretion based on upon such factors as we determine relevant without limitations including without limitation market conditions, exchange rate charged by other parties please, market risk, and other market conditions, and is subject to change at anytime without notice. Exchange rates offered by other dealers or shown at other sources by us or other dealers (including online sources) may be different from our exchange rates. We do not accept any liability for our exchange rates. Any and all liability for our exchange rates is disclaimed.