Change in Account Closure Process

We recently updated our depositor agreement to ensure that we keep accounts in good standing. If you make a revision to your account but do not provide completed documentation (i.e., signature card, resolution, identification documents, etc.) within 30 days, we will close your account. In addition, we reserve the right to close an account at any time, for any reason or for no reason, without providing prior written notice.

The terms and conditions of your account, which were provided to you at account opening titled “Disclosures and Deposit Account Agreement,” have been updated to reflect this change. The following section includes the changes that are being made to your account terms.

Section II. Closure of Accounts

We may close an Account at any time, for any reason or for no reason, without the necessity of prior written notice. In addition, your Account will be closed automatically if we do not receive your completed Account documentation (i.e., signature card, resolution, identification documents, etc.) within thirty (30) days of the date on which your Account is opened or a revision is made. If we close your Account, we will notify you by mail or telephone that we have closed your Account. Written notice that the Account has been closed and a check, if any, will be sent to any address on our records for you or, if the Account is a multiple party or joint account, any depositor to whom we elect to send it. We may deliver the remaining balance in any business or organization Account to any authorized representative listed on our records for the business or organization.

Once we have closed your Account, we can, without any liability to us:

(a) refuse to honor any items you have written that are presented to us for payment after we have closed your Account;
(b) refuse to collect any item you have deposited in the Account;
(c) assess any service charge otherwise applicable against any remaining balance in your Account; and
(d) retain all funds in the Account until we are reasonably satisfied that the time for items to be returned to us has lapsed and that all remaining funds are collected.

We, however, may accept deposits to an Account after it is closed in order to pay any service charges due and any amounts outstanding and unpaid. Acceptance of any deposit does not require us to reactivate the Account. If you close your Account and transactions that we cannot return unpaid (for example, a previously approved/authorized point-of-sale debit card purchase or ATM transaction) are later presented against your Account, you authorize us to apply the transactions that were authorized prior to Account closure.

If you would like to receive a copy of the full terms and conditions of your account, clients in Tennessee, North Carolina, South Carolina and Virginia can access it here. Georgia residents can find their agreement here.