Electronic Banking. Rules for stopping payment of other types of transfers of funds may be established by law or our internal procedures. State and federal law and our policy govern when accounts are considered abandoned. Your account is usually considered abandoned if you have not made any deposits to or withdrawals from your account for the period of time specified in the applicable state's unclaimed property law. We are required by the unclaimed property laws to turn over to the applicable state accounts considered abandoned. Before we turn over an abandoned account, we may send a notice to the address we currently have on our records or the account statement. We may not send this notice if mail we previously sent to this address was returned. After we turn the funds over to the state, we have no further liability to you for the funds, and you must apply to the appropriate state agency to reclaim your funds. To the extent permitted by applicable state law, abandoned accounts will continue to be subject to standard account service charges, in addition to dormancy and escheat fees, as set forth on the Business Account Fee Schedule. If we consider your account dormant, then (unless prohibited by federal law or the law of the state where your account is maintained) we may: stop sending statements. We structure checking accounts into two sub-accounts for regulatory accounting purposes: a checking subaccount and a savings subaccount. We calculate and pay interest at the same rate and in the same way on both sub-accounts. You will not see a difference in the way your account operates. You agree we may automatically, without a specific request from you, initiate individual transfers of funds between sub-accounts from time to time at no cost to you. These transfers will be automatic transfers so your ability to use your funds through your checking account will not be affected. We record the subaccounts and any transfers between them on our internal accounting records only. Funds in your account(s) are insured by the Federal Deposit Insurance Corporation ("FDIC). The standard maximum deposit insurance amount is $250,000 per depositor for each account ownership category. The amount of insurance coverage you have depends on the number of accounts you have with us and the ownership of those accounts. If you want additional information, you may ask us, call the FDIC toll-free at 0-000-XXX-XXXX (000-000-0000), or visit the FDIC's website at xxx.xxxx.xxx.
Appears in 1 contract
Samples: General Legal Agreement
Electronic Banking. Rules for stopping payment of other types of transfers of funds may be established by law or our internal procedures. We structure checking accounts into two sub-accounts for regulatory accounting purposes: a checking subaccount and a savings subaccount. We calculate and pay interest at the same rate and in the same way on both sub-accounts. You will not see a difference in the way your account operates. You agree we may automatically, without a specific request from you, initiate individual transfers of funds between sub-accounts from time to time at no cost to you. These transfers will be automatic transfers so your ability to use your funds through your checking account will not be affected. We record the subaccounts and any transfers between them on our internal accounting records only. State and federal law and our policy govern when accounts are considered abandoned. Your account is usually considered abandoned if you have not made any deposits to or withdrawals from your account for the period of time specified in the applicable state's unclaimed property law. We are required by the unclaimed property laws to turn over to the applicable state accounts considered abandoned. Before we turn over an abandoned account, we may send a notice to the address we currently have on our records or the account statement. We may not send this notice if mail we previously sent to this address was returned. After we turn the funds over to the state, we have no further liability to you for the funds, and you must apply to the appropriate state agency to reclaim your funds. To the extent permitted by applicable state law, abandoned accounts will continue to be subject to standard account service charges, in addition to dormancy and escheat fees, as set forth on the Business Account Fee Schedule. If All transactions, including those for which we consider provide a receipt, are subject to subsequent verification and correction within our discretion. We may reverse or otherwise adjust any transaction which we believe we erroneously made to your account dormant, then (unless prohibited by federal law or at any time even if you receive a receipt for the law of the state where your account is maintained) we may: stop sending statements. We structure checking accounts into two sub-accounts for regulatory accounting purposes: a checking subaccount and a savings subaccount. We calculate and pay interest at the same rate and in the same way on both sub-accounts. You will not see a difference in the way your account operates. You agree we may automatically, transaction without a specific request from you, initiate individual transfers of funds between sub-accounts from time to time at no cost prior notice to you. These transfers will be automatic transfers so your ability to use your funds through your checking account will not be affected. We record the subaccounts and any transfers between them on our internal accounting records only. Funds in your account(s) are insured by the Federal Deposit Insurance Corporation ("FDIC). The standard maximum deposit insurance amount is $250,000 per depositor for each account ownership category. The amount of insurance coverage you have depends on the number of accounts you have with us and the ownership of those accounts. If you want additional information, you may ask us, call the FDIC toll-free at 0-000-XXX-XXXX (000-000-0000), or visit the FDIC's website at xxx.xxxx.xxx.
Appears in 1 contract
Samples: General Legal Agreement
Electronic Banking. Rules for stopping payment of other types of transfers of funds may be established by law or our internal procedures. State and federal law and our policy govern when accounts are considered abandoned. Your account is usually considered abandoned if you have not made any deposits to or withdrawals from your account for the period of time specified in the applicable state's unclaimed property law. We are required by the unclaimed property laws to turn over to the applicable state accounts considered abandoned. Before we turn over an abandoned account, we may send a notice to the address we currently have on our records or the account statement. We may not send this notice if mail we previously sent to this address was returned. After we turn the funds over to the state, we have no further liability to you for the funds, and you must apply to the appropriate state agency to reclaim your funds. To the extent permitted by applicable state law, abandoned accounts will continue to be subject to standard account service charges, in addition to dormancy and escheat fees, as set forth on the Business Account Fee Schedule. If we consider your account dormant, then (unless prohibited by federal law or the law of the state where your account is maintained) we may: stop sending statements. We structure checking accounts into two sub-accounts for regulatory accounting purposes: a checking subaccount and a savings subaccount. We calculate and pay interest at the same rate and in the same way on both sub-accounts. You will not see a difference in the way your account operates. You agree we may automatically, without a specific request from you, initiate individual transfers of funds between sub-accounts from time to time at no cost to you. These transfers will be automatic transfers so your ability to use your funds through your checking account will not be affected. We record the subaccounts and any transfers between them on our internal accounting records only. Funds We may issue you an ATM card or a debit card ("card") when you open an account. You will be required to activate your card and select a personal identification number (PIN) as part of the activation process. The terms and conditions that govern your use of your card are disclosed in separate agreements entitled Business Debit Card Agreement. Before using your card, please review the corresponding agreement carefully. You may access your South State Bank account(s) attached to your card by using your card and PIN to: deposit funds in your checking account(s) and savings account(s) at deposit-enabled ATMs we own or operate transfer funds between your accounts withdraw cash from your account(s) are insured by obtain your account balance(s) purchase goods and services (and, in some cases, withdraw cash from your account) at participating merchants (debit card only) ; and change the Federal Deposit Insurance Corporation ("FDICPIN attached to your card You acknowledge some of these services may not be available at all ATM terminals or all cards, and some of these services may not apply to your account(s). The standard maximum deposit insurance amount is $250,000 per depositor for each account ownership category. The We reserve the right to limit the dollar amount of insurance coverage checks and types of checks you have depends on the number of accounts you have with us and the ownership of those accountsmay deposit at our ATMs. If you want use your card at an ATM owned by another bank or financial institution, we will charge you per transaction for using the ATM machines. Please refer to the Business Account Fee Schedule for additional information. In addition, if you may ask use an ATM not owned by us, call the FDIC toll-free ATM operator or network may charge a fee (even for only a balance inquiry). If you make any transfer or withdrawal at 0-000-XXX-XXXX (000-000-0000)an ATM on or after 7:30 P.M. EST, we will post your transaction on the next business day. You agree not to use your card(s) for illegal gambling or other illegal purposes. 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. 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 your written permission, or visit as explained in the FDIC's website at xxx.xxxx.xxx.separate Privacy Disclosure
Appears in 1 contract
Samples: General Legal Agreement
Electronic Banking. Rules for stopping payment of other types of transfers of funds may be established by law or our internal procedures. State and federal law and our policy govern when accounts are considered abandoned. Your account is usually considered abandoned if you have not made any deposits to or withdrawals from your account for the period of time specified in the applicable state's unclaimed property law. We are required by the unclaimed property laws to turn over to the applicable state accounts considered abandoned. Before we turn over an abandoned account, we may send a notice to the address we currently have on our records or the account statement. We may not send this notice if mail we previously sent to this address was returnedreturned . After we turn the funds over to the state, we have no further liability to you for the funds, and you must apply to the appropriate state agency to reclaim your funds. To the extent permitted by applicable state law, abandoned accounts will continue to be subject to standard account service charges, in addition to dormancy and escheat fees, as set forth on the Business Account Fee Schedule. If we consider your account dormant, then (unless prohibited by federal law or the law of the state where your account is maintained) we may: charge dormant fees on the account in addition to monthly maintenance charges and other fees, and stop sending statements. We structure checking accounts into two sub-accounts for regulatory accounting purposes: a checking subaccount and a savings subaccount. We calculate and pay interest at the same rate and in the same way on both sub-accounts. You will not see a difference in the way your account operates. You agree we may automatically, without a specific request from you, initiate individual transfers of funds between sub-accounts from time to time at no cost to you. These transfers will be automatic transfers so your ability to use your funds through your checking account will not be affected. We record the subaccounts and any transfers between them on our internal accounting records only. Funds in your account(s) are insured by the Federal Deposit Insurance Corporation ("FDIC). The standard maximum deposit insurance amount is $250,000 per depositor for each account ownership category. The amount of insurance coverage you have depends on the number of accounts you have with us and the ownership of those accounts. If you want additional information, you may ask us, call the FDIC toll-free at 0-000-XXX-XXXX (000-000-0000), or visit the FDIC's website at xxx.xxxx.xxx.
Appears in 1 contract
Samples: General Legal Agreement
