Common use of Inactive and Abandoned Accounts Clause in Contracts

Inactive and Abandoned Accounts. Each jurisdiction in which we do business has laws that govern when Accounts are deemed inactive or abandoned, and when we need to send or escheat funds to the state or local government. Generally, the law of the state of your last known residence as shown in our records governs when Accounts are considered abandoned. You can ensure your Account remains active by making a deposit or withdrawal within the parameters set forth in the following paragraph, or by telling us to keep it active. If we have not had contact with you, there is no activity on your checking Account for 12 months or your savings Account for 24 months and you have not otherwise indicated an interest in your Account, we will classify your Account as inactive. We will notify you by mail to the address on our records one (1) month following the date your Account became inactive. Beginning the following month, we may charge the monthly Inactive Fee shown on the Fee Schedule. For security reasons, we may refuse to allow transactions on inactive Accounts if we are unable to contact you on a timely basis to confirm your authorization for the transaction. Hawaii law considers your Account to be abandoned if your Account remains inactive, generally for five (5) years. After that time, we will charge your Account an Abandoned Account Fee where permitted by applicable law and escheat the remaining funds to government authorities. We will mail you a letter to notify you before we transfer your funds to the state or local government as abandoned property. For Accounts domiciled in Saipan, the Commonwealth of the Northern Marianas Islands “CNMI” law considers your Account to be abandoned if your Account remains inactive, generally for a period of six (6) months for Checking Accounts and if your Account is inactive for 24 months for savings Accounts (including Money Market Savings) that have no deposit or withdrawal transaction activity for 24 months are presumed abandoned and are subject to escheat. If your Account becomes inactive, we will notify you by mail to the address on our records and we will charge your checking and/or savings Account the monthly Inactive Fee shown on the Fee Schedule. To reactivate your Account, you must conduct a monetary transaction, such as a deposit or withdrawal. If your Account remains inactive and is presumed abandoned, on September 15th, we will charge the Abandoned Account Fee shown on the Fee Schedule and your Account will be subject to escheat and your funds will be transferred to the Commonwealth Treasurer on the first Business Day in October.

Inactive and Abandoned Accounts. Each jurisdiction in which we do business has laws that govern when Accounts are deemed inactive or abandoned, and when we need to send or escheat funds to the state or local government. Generally, The address on your Account determines the law of the state of your last known residence as shown in our records governs when Accounts are considered abandonedescheatment rules that will be applied. You can ensure your Account remains active by making a deposit or withdrawal within the parameters set forth as outlined in the following paragraphthis agreement, or by telling us sending a signed letter of instruction to keep it activeBank of Hawaii, Deposit Maintenance Center #118, P.O. Box 2900, Honolulu, HI 96846. If we you have not had contact with you, there is no activity initiated a transaction or a maintenance update on your checking Account for 12 twelve (12) months or your savings Account for 24 twenty- four (24) months and you have not otherwise indicated an interest in your Account, we will classify your Account as inactive. We will notify you by mail to the address on our records one (1) month following the date when your Account became becomes inactive. Beginning the following month, we may will charge the monthly non-refundable Inactive Fee shown on the Fee Schedule. For security reasons, we may refuse to allow transactions on inactive Accounts if we are unable to contact you on a timely basis to confirm your authorization for the transaction. Hawaii The law considers your Account to be abandoned if your Account remains inactive, generally for five (5) years. After that time, we will charge your Account an Abandoned Account Fee where permitted by applicable law and escheat the remaining funds to government authorities. We will mail you a letter to notify you before we transfer your funds to the state or local government as abandoned property. For security reasons, we may refuse to allow transactions on inactive Accounts if we are unable to contact you on a timely basis to confirm your authorization for the transaction. For Accounts domiciled in Saipan: Checking Accounts that have no deposit, the Commonwealth of the Northern Marianas Islands “CNMI” law considers your Account to be abandoned if your Account remains inactive, generally Check or withdrawal transaction activity for a period of six (6) months for Checking Accounts months, and if your Account is inactive for 24 months for savings Accounts (including Money Market Savings) that have no deposit or withdrawal transaction activity for 24 twenty-four (24) months are presumed abandoned and are subject to escheatescheat to the Commonwealth Treasurer. If your Account becomes inactive, we will notify you by mail to the address on our records and we will charge your checking and/or savings Account the monthly non-refundable Inactive Fee shown on the Fee Schedule. To reactivate your Account, you must conduct a monetary amonetary transaction, such as a deposit or withdrawal. If your Account remains inactive and is presumed abandonedinactive, on September 15th, we will charge the Abandoned Account Fee shown on the Fee Schedule and your Account will be subject to escheat and your funds will be transferred to the Commonwealth Treasurer on the first Business Day in October.

Inactive and Abandoned Accounts. Each jurisdiction An Account may be considered inactive and/or abandoned when: You fail to notify us in which we do business has laws that govern when Accounts are deemed inactive or abandonedwriting of any change to your mailing address, and when we need to send or escheat funds to the state or local government. Generally, the law of the state of your last known residence as shown in our records governs when Accounts are considered abandoned. You can ensure your Account remains active by making a deposit or withdrawal within the parameters set forth in the following paragraph, or by telling us to keep it active. If we have not had contact with you, there is no activity on your checking Account for 12 months or your savings Account for 24 months and you have not otherwise indicated an interest in your Account, we will classify your Account as inactive. We will notify you by mail to the address on our records one (1) month following the date your Account became inactive. Beginning the following month, we may charge the monthly Inactive Fee shown on the Fee Schedule. For security reasons, we may refuse to allow transactions on inactive Accounts if we are unable to contact verify an existing address, or you on have not made a timely basis to confirm your authorization for the transaction. Hawaii law considers contribution or withdrawal from your Account for one year or longer and after several attempts we are unable to be verify you still intend to keep the Account. We may stop sending certain required banking notices to an Account we consider inactive and/ or abandoned. Accounts that are considered abandoned if your Account remains inactive, generally for five (5) years. After that time, we will charge your Account an Abandoned Account Fee where permitted by are subject to escheatment in accordance with the applicable law and escheat of your state of residence (based on the remaining funds to government authoritieslast address for notices that we have for you in our records). We will mail attempt to contact you a letter prior to notify you before turning any Account over to the state. You agree that we transfer your are not responsible for any funds turned over to the state or local government as abandoned propertyincluding investment assets pursuant to applicable laws and regulations. For Accounts domiciled in SaipanIf your funds are turned over to the state, you must apply to the Commonwealth of the Northern Marianas Islands “CNMI” law considers applicable state agency to reclaim your Account to funds. The distribution will be abandoned if your Account remains inactive, generally for a period of six (6) months for Checking Accounts reported on Form 1099SA and if your Account is inactive for 24 months for savings Accounts (including Money Market Savings) that have no deposit or withdrawal transaction activity for 24 months are presumed abandoned and are could be subject to escheatan excise tax. If your Account becomes inactivebalance is zero or falls below zero for 60 consecutive days, we will notify you by mail HSA Bank reserves the right to the address on our records and we will charge your checking and/or savings Account the monthly Inactive Fee shown on the Fee Schedule. To reactivate close your Account. You will be notified of the Account closure at the email or physical mailing address we have on file. Please refer to your Health Savings Account and Fee Interest Schedule regarding fees that may apply. Right to Refuse Any Contribution, you must conduct to Close Any Account, or to Terminate Account Services. We reserve the right, in our discretion, to refuse to accept your contribution, including a monetary transactionnew account contribution, to offer an account service, such as a deposit debit card, or withdrawalto close your Account at any time. If we close your Account remains inactive and is presumed abandonedyou owe us money for any reason, on September 15th, you will still be responsible for paying the money due. We reserve the right to prevent your access to your Account or to close your Account without notice when we reasonably believe we will charge the Abandoned Account Fee shown on the Fee Schedule and otherwise sustain a loss. We also may prevent your use of your Account will be subject without prior notice pending the resolution of a claim, investigation, or dispute concerning the Account. Right To Discontinue Program. We reserve the right, in our discretion, to escheat discontinue our Account program and your funds will be transferred to the Commonwealth Treasurer on the first Business Day in Octoberrelated services without prior notice unless longer notice is required by law.