Common use of Restrictions on Transfers from Savings and Money Market Accounts Clause in Contracts

Restrictions on Transfers from Savings and Money Market Accounts. The number of withdrawals or transfers from Cornerstone Bank accounts is limited pursuant to the terms of the applicable deposit agreement and disclosure for those accounts. Deposits: You may make an unlimited number of deposits into a savings or money market account by any method. Withdrawals/Transfers: You may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, including withdrawals and transfers initiated by check, draft, debit card (if applicable) or similar order to a third party. Unlimited withdrawals are permissible in the following instances: automatic (preauthorized) transfers for the purpose of paying loans at our institution; transfers or withdrawals made by mail, messenger, ATM or in person; withdrawals initiated by telephone and consummated by a check mailed to you. DISCLOSURE OF ACCOUNT INFORMATION AND TRANSFERS Cornerstone Bank is committed to protecting your security and confidentiality. We will guard your information from third parties except for the following reasons: - Where it is necessary for completing transfers - In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant - In order to comply with laws, government agency rules or orders, court orders, subpoenas, or other legal processes - In order to give information to any government agency or official having legal authority to request legal processes - If you give us written permission PERIODIC STATEMENTS The date and amount of transfers made through the Internet Banking System will be shown on the Internet Banking System screen and will also be shown on your statement for the accounts from which and to which the transfer was made.