Common use of RIGHT TO CLOSE ACCOUNT Clause in Contracts

RIGHT TO CLOSE ACCOUNT. The Bank may close any account with or without cause at any time. The Bank shall give you either oral or written notice of its intention to close the account. If given in writing, the notice will be forwarded to your last address as shown on our records. In the case of oral notice, you shall have five (5) days from the date of notice to withdraw all funds from your account. In the case of written notice, you shall be provided a minimum of seven (7) days from the date appearing on the notice to withdraw all funds from your account. Upon notice, you must stop conducting transactions on your account. The Bank shall not be liable for dishonoring any items written after the notice date. In the event you have not withdrawn all funds to close the account within those time limits, the Bank will close the account and mail a check for such funds remaining in the account, after deducting all applicable fees and charges, to your last address shown on our records. Closing the account does not release you from the obligation to pay accrued fees or from liability for items in process. The Bank may in its discretion close an account without prior notice if the account has a negative or zero balance or if we believe it necessary to protect the Bank, its employees or others from risk, harm or loss. The Bank further reserves the right to reject any deposit which is made to a closed account by returning the item or by crediting the item to another active account at the Bank. The Bank reserves this right notwithstanding that the deposit may have been processed and/or you were given a receipt for the deposit. The deposit receipt shall not constitute acceptance of funds in such instance and the Bank shall have no liability for any checks returned unpaid which are drawn on a closed account even if you attempt to make a deposit to the account. The Bank may report your account to a consumer reporting agency if your account is closed due to a negative balance, fraud, or other inappropriate account activity.

RIGHT TO CLOSE ACCOUNT. The You or the Bank may close any your account with or without cause at any time. The Bank We shall give you either oral or written (includes electronic) notice of its our intention to close the account. If given in writing, the notice will be forwarded sent to your last address as or e-mail shown on our records. In the case of oral notice, you shall have five (5) days from the date of notice to withdraw all funds from your close the account. In the case of written notice, you shall be provided a minimum of have seven (7) days from the date appearing on the notice to withdraw all funds from your close the account. Upon notice, you must stop conducting transactions on your account. The Bank We shall not be liable for dishonoring any items written initiated after the notice datedate of the notice. In the event that you have not withdrawn all funds to close the account within those time limitsclosed your account, the Bank we will close the account and mail you a check for such funds the remaining balance in the account, account after deducting all any applicable fees and charges, to your last address shown on our records. Closing the account does not release you from the obligation to pay payment of accrued fees or from liability for items in process. The Bank may in its discretion close an your account without prior notice if the account has a zero or negative or zero balance balance, or if we believe it necessary to protect the Bankbank, its employees or others from risk, harm or loss. The Any waiver by the Bank further reserves of its right to close an account for cause shall not be a waiver of our right at a later time to close your account for the same or similar reasons. We reserve the right to reject any deposit which that is made to a closed account by returning the item or by crediting the item to another active account at the Bankof yours. The Bank reserves We reserve this right notwithstanding that the deposit may have been processed and/or that you were given a receipt for the deposit. The deposit receipt shall not constitute acceptance of funds in such instance and the Bank we shall have no liability for any checks items returned unpaid which are drawn on a closed account even if you attempt to make a deposit to the account. You may close your account at any time but must first notify the Bank in writing, or by contacting one of our financial centers, of your intent to close the account. Your failure to notify us may result in additional fees or charges on the account and you shall remain liable for any items in process. A notation written on the face of a check does not constitute the required notification to the Bank. We reserve the right to re-open a closed account to permit a deposit or credit entry to post to the account. If you owe money to the bank, the funds may be used to satisfy the debt owed to the Bank. The Bank may report your account to a consumer reporting agency if your account it is closed due to a negative balance, fraud, or other inappropriate account activity.