BankMobile Checking Fees at a Glance: BOLD

 

Account Opening and Usage

Minimum Deposit Needed to Open Account:

$0.01

Monthly Fee:

$0.00

Requirements to Waive Monthly Fee:

There is no monthly fee.

Interest Bearing:

Yes.  See rate disclosure for current rates.

ATM Fees:

$0.00 (Note: The ATM owner may charge you a fee.  Use an ATM in the STARsf network to avoid surcharge fees from the ATM owner.)

Non-Sufficient Funds (NSF) Fee:

$0.00 per item.

Maximum Number of Overdraft Penalty Fees Per Day:

There are no overdraft penalty fees.

Minimum Amount Required to Trigger an Overdraft Penalty Fee:

There are no overdraft penalty fees.

Extended Overdraft Penalty Fee:

$0.00 (Charge does not apply)

Deposited Item Return Fee:

$0.00 per item.

Stop Payment Fee:

$0.00 per item to stop payment for up to 6 months.

Account Closing Fee:

$0.00

Other Service Fees:

Please consult later sections for a list of additional service fees.

Overdraft Options for Consumers with Debit Cards

Option A (Default)

You do not elect to have a savings account or line of credit account linked to your checking account for overdraft purposes.

Debit card transactions that would cause an overdraft will be declined at no cost to you except where the Bank is obligated to process the transaction. In this case, the transaction will be accepted, you will be responsible for the overdraft amount, but a fee will not be assessed.

Option B

You elect to have a savings account or line of credit account linked to your checking account for overdraft purposes.

Debit card transactions that would cause an overdraft based on the balance in your checking account will be paid if there are sufficient funds in your savings account or line of credit account to draw on.  In the event that sufficient funds are not available in the linked savings account or line of credit account, Option A will apply.

 

Processing Policies

Posting Order

(The order in which withdrawals and deposits are processed)

 

When processing daily transactions:

o    We process any debit card withdrawals and ACH deposit transactions throughout the day as we receive them.

o    We process all deposits as they are received throughout the day (other than those you make directly to us).

o    If we receive multiple entries for one specific account in the same incoming FED file, entries are posted as presented in the file.

o    ACH Debits entries (withdrawals) are stored until the end of day and are posted after the final credit posting for the day is completed.  Debits are posted as listed in the ACH files.

o    After which, we will process checks which you’ve written against the account in the order that we have received them from the Federal Reserve (Fed) each business day.

Deposit Hold Policy

(When funds deposited to your account are available)

The length of the delay in availability is counted in business days from the day of your deposit.  Every day is a business day except Saturdays, Sundays and bank holidays.  If you make a deposit during regular business hours on any business day, we will consider that day to be the day of your deposit.  However, if you make a deposit after regular business hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open.  The length of the delay varies depending on the type of deposit as explained below.  (Please see the Regular Business Hours section of the Funds Availability Disclosure for additional information.)

Same Day Availability

Funds from electronic direct deposits (for example payroll direct deposits or payments such as wire transfers) to your account that are initiated by the payer will be available on the settlement date. In addition, funds which are not subject to any holds which are transferred from another of your eligible accounts at BankMobile will be available on the same business day that the deposit is received.

Next Day Availability

Funds from the following sources are available on the next business day after the day we receive your deposit: Items when delivered by mail to us drawn on the Treasury of the U.S., a U.S. Postal Service money order, a check drawn on a Federal Reserve Bank or Federal Home Loan Bank, a check drawn by a state or a unit of general local government, and cashier's, certified and teller’s checks deposited into an account held by the payee of the item.

Other Deposits

For all other check deposits and items listed under Next Day Availability delivered by a method other than mail, $200 of your total check deposits will be available on the next business day after the deposit is made. An additional $400 will be available on the second business day after the day of deposit (for a total of $600) with the remainder of the total deposit available on the third business day after the deposit is made.

 

FEE SCHEDULE*

Account Reconciliation/Research

$0.00

Cashier's Check

$0.00

Check Copy

$0.00

Court Attachments/Levy

$0.00

Excess Transaction (Money Market/Savings Accounts)

$0.00

Overdrafts/Non-Sufficient Funds/Uncollected Funds

Personal Account Non-Sufficient Funds (NSF)**

$0.00

Personal Account Uncollected Funds (UCF)**

$0.00

Overdraft Transfer

$0.00

Replacement ATM/Debit Card

$0.00

Returned Check 

$0.00

Statement Copy 

$0.00

Stop Payment

$0.00

Telephone Transfer

$0.00

Wire Transfers

 

Incoming Wire Transfer   

$0.00

 

* Fees incurred by other entities will be passed through to customer without any markup by BankMobile.

** Applies to transactions created by check, in-person withdrawal, or non-ATM/non-Debit electronic means.

 

BankMobile Information

Who We Are -

BankMobile, A Division of Customers Bank

Questions -

1-844-WOW-BANK (1-844-969-2265)

Why -

Regulation DD, also known as the Truth In Savings Act, requires Banks to disclose the terms of deposit accounts to consumers so that they can make informed decisions.

What -

This disclosure explains the terms of deposit accounts. 

o    What the annual percentage yield (APY) is on an account

o    How we compound and credit the interest

o    How we determine the rate on the account

o    How often the rate can change

o    The minimum opening deposit for the account

o    The minimum balance to avoid being charged a fee

This information will include:

o    What will happen to accrued interest when the account is closed

o    How we calculate the balance on the account

o    The minimum balance to earn the APY

o    When interest begins to accrue

o    Other applicable fees

o    Any transaction limitations on the account

BOLD Totally Free Checking Account

The interest rate on your account is:

0.00%

The annual percentage yield is:

0.00%

Can the interest rate and annual percentage yield change'

Yes.

The interest rate is determined:

At our discretion.

We may change the interest rate on this account:

At any time.

Interest will be compounded:

Monthly.

Interest will be credited to your account:

Monthly.

If you close your account before interest is credited:

Accrued interest will be paid.

To open this account, you must deposit a minimum of:

$0.01

In order to avoid a fee, you must maintain at least this balance:

This account does not have any associated fees. No minimum balance needs to be maintained.

In order to earn the annual percentage yield, you must maintain:

$0.01

We calculate your balance by:

Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.

Interest begins to accrue:

On the business day which an item is deposited.

Information regarding fees you may be charged:

This account does not have any associated fees.

Transaction Limitations on this account:

This account has no transaction limitations.

 

BOLD High-Yield Savings Account

Eligibility Requirements:

You must have a Bold Checking Account in good standing.

The interest rate on your account is:

Variable.

The annual percentage yield is:

Variable.

Can the interest rate and annual percentage yield change'

Yes, this is a variable rate account.

The interest rate is determined:

At our discretion.

We may change the interest rate on this account:

At any time.

Interest will be compounded:

Monthly.

Interest will be credited to your account:

Monthly.

If you close your account before interest is credited:

Accrued interest will be paid.

To open this account, you must deposit a minimum of:

$0.01

In order to avoid a fee, you must maintain:

This account does not have any associated fees. No minimum balance needs to be maintained.

In order to earn the annual percentage yield, you must maintain:

$0.01

We calculate your balance by:

Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.

Interest begins to accrue:

On the business day which an item is deposited.

Information regarding fees you may be charged:

This account does not have any associated fees.

Transaction Limitations on this account:

Six (6) transfers from per statement cycle to another account at BankMobile or to third parties by means of a preauthorized transfer, or telephonic (including data transmission) agreement, order or instruction (check, draft, etc.), or by debit card, or similar order. Please see the Limitations on Preauthorized Transfers section of the BankMobile Account Agreement for additional information.

 

FACTS

What does BankMobile Do with Your Personal Information

Why?

financial companies choose how they share your personal information.  Federal law gives consumers the right to limit some but not all sharing.  Federal law also requires us to tell you how we collect, share, and protect your personal information.  Please read this notice carefully to understand what we do.

What?

The types of personal information we collect and share depend on the product or service you have with us.  This information can include:

o    Social Security number and transaction history

o    Account balances and transaction or loss history

o    Payment history and credit history

How?

All financial companies need to share customers' personal information to run their everyday business.  In the section below, we list the reasons financial companies can share their customers' personal information; the reasons BankMobile chooses to share; and whether you can limit this sharing. When you are no longer our customer, we continue to share your information as described in this notice.

 

Reasons We Can Share Your Personal Information

 

Does BankMobile share?

Can you limit this sharing?

For our everyday business purposes -

Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus.

Yes.

No.

For our marketing purposes -

To offer our products and services to you

Yes.

No.

For joint marketing with other financial companies -

Yes.

No.

For our affiliates’ everyday business purposes -

Information about your transactions and experiences.

Yes.

No.

For our affiliates’ everyday business purposes -

Information about your creditworthiness.

No.

We do not share.

For non-affiliates to market to you -

No.

We do not share.

 

Questions?

Call 1-844-969-2265, Monday through Saturday, 9:00 am to 9:00 pm ET, or contact us through the BankMobile application.

 

Who We Are

Who is providing this notice?

BankMobile, A division of Customers Bank.

 

What We Do

How does BankMobile protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law.  These measures include computer safeguards, encryption, and secured files and buildings.

We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.

How does BankMobile collect my personal information'

We collect your personal information, for example, when you:

o    Open an account

o    Request a transfer

o    Apply for a loan

o    Provide account information

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only:

o    Sharing for affiliates’ everyday business purposes - information about your creditworthiness.

o    Affiliates from using your information to market to you.

o    Sharing for non-affiliates to market to you.

See below for more on your rights under state law.

 

Definitions

Affiliates

Companies related by common ownership or control.  They can be financial and non-financial companies.  Our affiliates include companies with a common corporate identity of Customers Bank.

Non-Affiliates

Companies not related by common ownership or control.  They can be financial and non-financial companies.  BankMobile does not share with non-affiliates so they can market to you.

Joint Marketing

A formal agreement between non-affiliated financial companies that together market financial products or services to you.  Our joint marketing partners may include credit card companies, companies that sell non-deposit investment products and other financial service companies with whom joint marketing efforts would be mutually beneficial.

 

Other Important Information

Nevada Residents

Nevada Residents:  We are providing you this notice pursuant to Nevada law.  At any time, you may request to be placed on BankMobile’s internal do not call list by calling 1-844-969-2265 Monday through Saturday 9:00 am to 9:00 pm ET. You may also reach BankMobile at: BankMobile, 99 Bridge Street, Phoenixville, PA, 19460.

For more information on this Nevada law, you may contact the Bureau of Consumer Protection, 555 East Washington Avenue, Suite 3900, Las Vegas, NV 89101, Phone: 702.486.3132, E-mail: bcpinfo@ag.state.nv.us

Vermont Residents

Vermont Residents:  Under Vermont laws, we will not share information we collect about Vermont residents with companies outside of our corporate family, unless the law allows.  For example, we may share information with your consent, to service your accounts or under joint marketing agreements with other financial institutions with which we have joint marketing agreements.  We will not share information about your creditworthiness within our corporate family except with your consent, but we may share information about our transactions or experiences with you within our corporate family without your consent.

California Residents

California Residents:  Under California law, we will not share information we collect about you with companies outside of our corporate family, unless the law allows.  For example, we may share information without your consent, to service your accounts, or to provide rewards or benefits you are entitled to.  We will limit sharing among our companies to the extent required by California law.

FUNDS AVAILABILITY DISCLOSURE

We provide you with timely access to your funds that you deposit in your checking account in accordance with the Expedited Funds Availability Act (“EFA'), which is implemented by the Federal Reserve Board to establish maximum check clearing guidelines. Please note that it will not be possible to make a deposit of cash into your BankMobile accounts.  

Determining the Availability of a Deposit

The length of the delay in availability is counted in business days from the day of your deposit.  Every day is a business day except Saturdays, Sundays and bank holidays.  If you make a deposit during regular business hours on any business day, we will consider that day to be the day of your deposit.  However, if you make a deposit after regular business hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open.  The length of the delay varies depending on the type of deposit as explained below.  Our funds availability policy complies with Federal Reserve Board Regulation CC, which shall apply in the event of any dispute or inconsistency.

Regular Business Hours

Deposits - For the purposes of a transfer to or from an external Account, originated in the BankMobile App, regular business hours are from 8 am to 8 pm EST.  For the purposes of a Mobile Check deposits, regular business hours are from 8 am to 7:00 pm EST.

Same-Day Availability

Funds from electronic direct deposits (for example payroll direct deposits or payments such as wire transfers) to your account that are initiated by the payer will be available on the settlement date. In addition, funds which are not subject to any holds which are transferred from another of your eligible accounts at BankMobile will be available on the same day that the deposit is received.

Next-Day Availability

Funds from the following sources are available on the next business day after the day we receive your deposit when delivered to us by mail: A check drawn on the Treasury of the United States, a U.S. Postal Service money order, a check drawn on a Federal Reserve Bank or Federal Home Loan Bank, a check drawn by a state or a unit of general local government, and cashier's, certified and teller’s checks deposited into an account held by the payee of the item.

Other Deposits

For all other check deposits and items listed under Next-Day Availability when delivered by a method other than mail, $200 of your total check deposits will be available on the next business day after the deposit is made. The remainder will be available on the second business day after deposit except for the purposes of withdrawal by cash or similar means including electronic payment, issuance of a Cashier's check or other irrevocable commitment to pay. For the purposes of irrevocable commitments to pay as described above, an additional $400 will be available on the second business day after the day of deposit (for a total of $600) with the remainder of the total deposit available on the third business day after the deposit is made.

ACH Deposits

Funds from ACH deposits not initiated by the payer will be available on the third business day after we receive notice of such a transfer order.  This generally means that you have requested we move funds from your account at another bank into your BankMobile account. In order to make the requested transfer, we send the instructions through the ACH network.  Because we do not know if you have sufficient funds at the other bank, we do not provide immediate availability.  Unless longer delays have been applied, the funds from this type of transfer will be available by 8 am EST on the third business day after the day of deposit.

Longer Delays May Apply

We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

o    You deposit checks totaling more than $5,000 on any one day

o    You redeposit a check that has been returned unpaid

o    You have overdrawn your account repeatedly in the last six months

o    We believe a check you deposit will not be paid

o    There is an emergency, such as failure of computer or communications equipment


We will notify you electronically (email, SMS text message, push notification, or other electronic means) if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  They will generally be available no later than the seventh business day after the day of your deposit.

Substitute Checks and Your Rights

To make check processing faster, federal law permits banks to replace original checks with "substitute checks."  These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check.  The front of a substitute check states: "This is a legal copy of your check.  You can use it the same way you would use the original check."  You may use a substitute check as proof of payment just like the original check.

Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us.  The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.

In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).

The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account.  If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.

If you use this procedure, you may receive up to $2,500 of your refund plus interest if your account earns interest within 10 business days after we received your claim and the remainder of your refund plus interest if your account earns interest not later than 45 calendar days after we received your claim.  We may reverse the refund including any interest on the refund if we later are able to demonstrate that the substitute check was correctly posted to your account.

If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at BankMobile Customer Service, 99 Bridge Street, Phoenixville, PA 19460 or call 1-844-969-2265, Monday through Saturday from 9:00 am to 9:00 pm EST.   You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by a means to which you agreed the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later.  We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.

Your claim must include:

o    A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);

o    An estimate of the amount of your loss;

o    An explanation of why the substitute check you received is insufficient to confirm that you suffered loss; and

o    A copy of the substitute check [and/or] the following information to help us identify the substitute check: (identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check).

 

ELECTRONIC FUNDS TRANSFER DISCLOSURE

This section provides information and notifies you of certain rights you have under the Electronic Funds Transfer (“EFT') Act.

Automated Teller Machine (ATM) Services

You understand that you may use your VISA Debit Card (“Card(s)') at an ATM to (1) withdraw cash from your account(s), (2) effect transfers between your account(s), (3) receive information regarding the balance of your account(s), (4) perform such other transactions as we may expressly authorize.  You will not be able to make deposits at an ATM which also means that you will not be able to make deposits of cash into your account.

You may use ATMs throughout the United States bearing the STAR or PLUS system logos and in certain foreign countries which bear the PLUS system logos to (1) make withdrawals from, (2) effect transfers to or from, or (3) receive information regarding the balance in your checking or savings account(s) designated as the primary account of such type on your application form.  There may be some limitations on transactions available at ATMs in foreign countries.

You may use the Card(s) to purchase goods and services (“Purchase') at any retail establishment (“Merchant') where such Merchant accepts Visa Debit Card(s).  If you use the Card(s) to make a Purchase or obtain cash, if permitted by Merchant, you shall be requesting us to withdraw funds in the amount of such Purchase (including any cash received from the Merchant) from your primary checking account designated on your application form and directing or ordering us to pay such funds to the Merchant.  You will be requested to use your Personal Identification Number (“PIN') for these transactions[RDB14].

Fees and Charges for ATM Transactions

We do not charge for ATM transactions.

ATM Fees

When you use an ATM not owned by us, you may be charged a fee by the ATM operator (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).  If you use an ATM in the STARsf network[c16], you will avoid such a fee.  Please note that if you use an ATM in a foreign country, there may be a difference in the withdrawal amount from the amount deducted from your account based on the conversion rate used when conducting your transaction.

VIP STATUS

To be eligible for VIP benefits, you must deposit your paycheck* (earnings from your job, social security, public assistance, alimony, or any other recurring income) into your Totally Free checking account totaling at least $500 or more per statement month.  Benefits include surcharge free access to every ATM in the United States (currently, over 400,000).  Any ATM surcharge fees that you were charged will be refunded to you at the end of each monthly statement cycle, currently on the 20th of each month.  If deposits totaling at least $500 are not made in any monthly statement cycle, ATM surcharge fees imposed by other ATM owners during that monthly period will not be reimbursed.  Other VIP benefits include individualized financial planning help and other special offers which may change from time to time.

*Note: This does not include transfers between accounts.

Our VISA Debit Services

You further understand that you may use only the VISA Debit Card to purchase goods and services where such Merchant accepts VISA cards.  We may place a hold on the funds available in the primary checking account associated with the card and any available overdraft protection account that may be necessary to cover the transaction.  The hold will be in the amount of the transaction request that has been submitted by the VISA Merchant for authorization.  In some cases, a merchant may put a hold on the funds available in the account in excess of the amount that was submitted; for example, hotels, gas stations, and other institutions for which the charges can vary after the card has been swiped.  These funds will not be available for withdrawal from your primary checking account in cash, for payment of checks that you have written on your checking account, or for any other use during the period that the hold is in effect. For transactions performed in the United States, it normally may take up to five (5) calendar days after the transaction is conducted to settle the transaction through VISA and post the transaction to your account.  When the merchant properly processes the payment request, the original hold will come off your account when the money is withdrawn from your account.  For transactions performed outside the United States, it normally may take up to ten (10) calendar days after the transaction is conducted to settle the transaction through VISA and post the transaction to your account, however, a longer period may be required.

If the location accepts both VISA cards and ATM cards, the purchase transaction will be considered an ATM Purchase if the transaction is sent to us through the ATM network.  You will be requested to use a PIN for these transactions. The transaction will be considered a VISA Purchase if the transaction is sent to us through the VISA network, and you should not use a PIN for such a transaction.

Record of Transaction

You may receive a printed receipt from each ATM location or Merchant at the time of the transaction.  You will receive a monthly statement showing the transactions made during the past month and any charges that were imposed for such services or transactions.

Terminal Transfers

You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal.  However, you may not get a receipt if the amount of the transfer is $15 or less or you opt not to receive a receipt.

Foreign Transaction-Currency Conversion

When you use your VISA-branded debit card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount.  The currency conversion rate used to determine the transaction amount in US dollars is either:

o    A rate selected by VISA from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives; or

o    The government-mandated rate in effect for the applicable central processing date;

The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or processing date.

Limitations on the Uses of VISA Debit Card

The ATM withdrawal limit for a VISA Debit Card is $500 each calendar day.  You may withdraw funds from one or a combination of your accounts up to this ATM withdrawal limit provided funds are available in your account(s).  The day for withdrawal limit starts at 12:00 am each business day and ends at 11:59 pm each business day.   Certain limitations are imposed on the frequency of use of the Visa Debit card each day.  These limitations are not revealed for security reasons.  You may use your VISA Debit Card to make point of sale transaction purchases up to $1,500 at VISA Merchants each day provided the funds are available in your checking account. This $1,500 limitation includes any P2P transfers you may have made that day.  In other words, between P2P transfers and POS purchases, you have a daily limitation of $1,500.

Internet gambling may be illegal in the jurisdiction in which you are located, including locations within the United States.  VISA cards may only be used for legal transactions.  Display of a payment card logo by an online merchant does not mean that Internet gambling transactions are lawful in all jurisdictions in which the cardholder may be located.

Use of Personal Identification Number (“PIN') with the Card

You understand that an ATM is an automated teller.  It can and will perform many of the same tasks as a human teller.  You acknowledge that the Personal Identification Number or PIN which you use with the Card(s) is your signature and identifies the bearer of the Card(s) to the STAR, and PLUS systems, ATM or other ATM network.  This authenticates and validates the directions given, just as your signature and other proof of identify you and authenticate and validate your directions to a human teller.  You also understand that a Merchant which accepts the Card(s) for a Purchase transaction may have an electronic terminal (Merchant-operated or self-service) which requires the use of your PIN and when your PIN is used at a Merchant’s terminal, it will authenticate and validate the directions given just as your actual signature will authenticate and validate your directions given to us.  You acknowledge that your PIN is an identification code that is personal and confidential and that the use of the PIN with the Card(s) is a security method by which we are helping you to maintain the security of your account(s).  Therefore, you agree to take all reasonable precautions so that no one else learns your PIN.

 

CONSUMER DEBIT CARD/ATM CARD HOLDER AGREEMENT AND DISCLOSURE STATEMENT

Consumer Liability for Unauthorized Transactions/Transfers

You agree to contact us immediately if you believe the Card(s), Card number and/or PIN have been lost or stolen and/or money is missing from your account(s).  You also agree that if your monthly statement shows transactions which you did not make, and you do not contact us within sixty (60) calendar days after the statement was mailed or made available to you, you may not get back any money lost after that time. 

YOU AGREE THAT IF YOU GIVE YOUR CARD(S) AND PIN TO SOMEONE ELSE TO USE, YOU ARE AUTHORIZING THEM TO ACT ON YOUR BEHALF AND YOU WILL BE RESPONSIBLE FOR ANY USE OF THE CARD(S) BY THEM.


You could lose all your money in the account(s), including the available balance in your overdraft protection account(s) if you take no action to notify us of the loss of your PIN, VISA Debit Card or Card number.  If you notify us of the loss, your liability for unauthorized transactions will be as follows:

1.     If you contact us within two (2) business days of the loss or your discovery of the loss, your loss will be limited to $50 if someone used your PIN or VISA Debit Card without your permission.

2.     If someone used your PIN or VISA Debit Card without your permission, your loss could be as much as $500 if you do not contact us within two (2) business days after you learn of the loss and we can establish that we could have prevented the loss if you had contacted us.

3.     If your monthly statement shows transfers or VISA Debit Card Purchases you did not make and you do not contact us within sixty (60) calendar days after the statement was mailed or made available to you, you may not get back any money lost, if we can establish that your contacting us would have prevented those losses.

Error Resolution Notice: In Case of Error or Questions About Your Transactions

You agree to contact us as soon as you can if you think your statement or receipt is wrong or if you need more information about the transaction listed on the statement or receipt.  You must assert the problem or error no later than sixty (60) calendar days after we sent or made available to you the BankMobile account statement on which the problem or error appeared.  You must provide us with the following information:

1.     Tell us your name, account number or VISA Debit Card number, and any other information we may need to verify your identification (never send an account number or Card number using email); and

2.     Describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error and/or why you need more information; and

3.     Tell us the dollar amount of the suspected error.  If the amount of the discrepancy is less than one dollar, your account will not be adjusted.


If you tell us orally, we may require that you send your complaint or questions in writing within ten (10) business days to us.  We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly.  If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or questions for domestic ATM transactions and up to ninety days (90) for international ATM transactions or VISA Debit Card purchases.  If we decide to do this, we will re-credit your account within the ten (10) business days for the amount you think is in error as a provisional credit, so you have use of the money during the time it takes us to complete our investigation.

Rules for New Deposit Customer accounts; we will tell you the results of our investigation within twenty (20) business days.  If we need more time, however, we may take up to ninety calendar (90) days to investigate your complaint or question.  If we decide to do this, we will re-credit your account within (20) business days.  You are considered a new deposit customer during the first 30 calendar days after you establish a BankMobile account.

If we decide that there is no error, we will send you a written explanation within three (3) business days after we finish our investigation.  You may ask for copies of the documents that we used in our investigation.  If we credit your account with funds while investigating an error, we will reverse that credit if we concluded no error has occurred.  You are responsible for full repayment of these funds to us.

How to Contact Us

If you believe that your Card(s), Card number and/or Personal Identification Number (PIN) has been lost or stolen, please contact us immediately by calling the following number.

ATM or Debit Cards

1-844-969-2265 (Monday through Saturday 9:00 am through 9:00 pm EST)

1-800-523-4175 (after hours contact for STARsf)

Ability to Freeze Activity on Debit Card

You are able to shut off, and turn back on, your debit card using your Mobile Application.  This action will help prevent use of the debit card and possible losses. 

Charges/Fees

There are no associated fees.

Liability

If a Card(s) is issued for a joint account(s) you agree to be jointly and separately liable under the terms of this agreement.

You agree that if you make deposits or payments to your account(s) with items other than cash and we make funds available to you from such deposits before we collect them, we may deduct the amounts of such funds from your account(s) that are not collected.  If the funds in your account(s) are insufficient at such time, you will promptly pay to us any amount of such funds that are not collected, plus any fees you may owe us in accordance with our current Fee Schedule.

Our Liability for Failure to Complete an Electronic Funds Transfer Transaction

If we do not complete a transaction on time or in the correct amount, when properly instructed by you, we will be liable for your losses or damages.  However, there are some exceptions.  We will not be liable for instance, if:

1.     There is not enough money in your account to complete the transaction through no fault of ours.

2.     The funds in your account are unavailable.

3.     The funds in your account are subject to legal process.

4.     The transaction you request would exceed the funds in your account plus any available overdraft protection.

5.     The ATM has insufficient cash to complete the transaction.

6.     Your Card(s) has been reported lost or stolen or your Card(s) privileges have been suspended and you are using the reported/suspended Card(s).

7.     We have a reason to believe that the transaction requested is unauthorized.

8.     The failure is due to an equipment breakdown or software malfunction which you knew about when you started or initiated the transaction using an ATM or STARsf network machine or VISA Merchant terminal.

9.     The failure was caused by an act of God, fire, flood or other catastrophe, or by an electrical or computer failure or communication malfunction or by another cause beyond our control.

10.   You attempt to complete a transaction using an ATM or STARsf network machine or VISA Merchant terminal which is not a permissible transaction under this Agreement.

11.   The transaction would exceed security limitations on the use of your VISA Debit Card(s).

12.   We did not receive a direct deposit instruction.

13.   You did not provide us with the correct names or account information for those persons or entities to whom you wished to direct payment.


There may also be other exceptions not specifically mentioned above.  In any case, we shall only be liable for actual proven damages if the failure to make the transaction resulted from a bona fide error despite our procedures to avoid such errors.

Limitation of Our Liability

Unless otherwise required by law, we will not be responsible for any losses or damages, including direct, indirect, special or consequential losses or damages, from your participation in or use of any goods or services purchased using any of the cards and services described in the VISA Debit Card and ATM Card Cardholder Agreement and Disclosure Statement.

Confidentiality

We will only disclose information to third parties about your account or the transfers you make:

1.     Where it is necessary for completing transfers, or

2.     In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or

3.     In order to comply with government agency or court order, or

4.     If you give us your written permission or where it is otherwise permitted

Amendment of this Disclosure

You agree that from time to time we may amend or change the terms of this Disclosure including amendments or changes to add more Card services.  We will notify you in writing of any change in a term or condition required to be disclosed under the Electronic Fund Transfer Act at least thirty (30) days prior to the effective date of such amendment or change.  Your use of the Card(s) after the effective date of such amendment or change shall constitute your agreement to such amendment or change.

Ownership

You agree that any Card is our property and you will surrender it to us upon our request.

Other Electronic Funds Transfers - Preauthorized Payment

If you have told us in advance to make regular payments from your account, you can stop any of these payments.  Call or write us using the phone number or address in the Section titled “How to Contact Us' in time for us to receive your request three (3) business days or more before the payment is scheduled to be made.  If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call.  If you order us to stop one of these payments three (3) business days or more before the transaction is scheduled and we do not do so, we will be liable for your losses or damages, but not indirect, special or consequential losses or damages.

Notice of Varying Amounts: If these regular payments may vary in amount, we or the payee will tell you, 10 days before each payment, when it will be made and how much it will be.  You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.'

Electronic Funds Transfer Services Offered

If you specifically authorize us to electronically accept deposits or honor withdrawals, we will provide such services.

Deposits

You can arrange to have deposits made automatically to your account.  Social Security payments, other government payments as well as your wages or salary are examples of such deposits.

Withdrawals

You can also arrange to have certain withdrawals, such as Life Insurance premiums, made automatically from your account.

Consumer Liability

If you fail to report within sixty (60) calendar days of the transmittal of your statement any unauthorized transfer that appears on the statement, your liability will not exceed:

o    The lesser of $50 or the amount of unauthorized transfers that appear on the statement or that occur during the sixty-day period plus,

o    The amount of unauthorized transfers that occur after the sixty days and before you notify us, if we can prove that we could have stopped someone from taking the money if you had told us in time.

How to Notify Us

If you believe that someone has transferred or may transfer money from your account without your permission, call 1-844-969-2265, 9am to 9pm EST Monday to Saturday, email us at help@bankmobile.com, or write us at BankMobile, 99 Bridge Street, Phoenixville, PA  19460.

Business Days

Our business days are Monday through Friday.  Bank Holidays are not included.

Types of Automatic Transfers

You may have deposits made to checking and savings accounts.  You may transfer funds between your checking and savings accounts.  You may have payments made from your checking and savings accounts.

Charges for Transfers

While there is no charge for transfers, you need to be aware that federal regulations have set the maximum number of preauthorized withdrawals to six (6) from your savings account in any statement period. 

Documentation of Transfer

o    Preauthorized credits: If you have arranged to have direct deposits made to your account at least once every sixty days from the same person or company, you can call us at (1-844-969-2265 during normal business hours) to find out whether or not the deposit has been made.

o    Periodic Statements: You will get monthly account statements if you have an electronic funds transaction.

Other EFT Transactions

You may access certain account(s) you maintain with us by other EFT transaction types as described below.

Electronic Check Conversion

You may authorize a merchant to use your check as a source of information to initiate an Electronic Funds Transfer (EFT) from your account.  Electronic check conversion is a payment process in which a merchant (after obtaining your authorization) uses your check to gather routing, account, and check number information to initiate a one-time EFT.  This type of EFT transaction involving a consumer account is covered by the Electronic Funds Transfer Act and this disclosure.  A description of the transaction will appear on your statement.

Re-Presented Check Transactions and pass thru Merchant Fees

You may authorize a merchant to electronically collect a fee associated with the re-presentment of a check that is returned due to insufficient or unavailable funds.  The resulting fee transaction if debited as an EFT from a consumer account is covered by the Electronic Funds Transfer Act and this disclosure. 

Account Closure

If we close your Card Account, you will no longer be able to earn or redeem rewards[c20], and you will forfeit any accumulated cash rewards.  If you close or convert your eligible Account, you will no longer be able to earn rewards and rewards will be forfeited for the current cycle.  We may change or limit any aspect of the Offer; amend the terms and conditions, benefits or features, in whole or in part; discontinue or replace any aspect of the Offer with a similar one of lesser, equal or greater value (in our sole discretion); modify, delete or terminate any or all of the Offer, the terms and conditions or any portion thereof and any or all of the participating partners, rewards, benefits, or special offers, at any time.  Changes may affect outstanding transactions, and may include, but are not limited to, the type or amount of rebates or discounts, if applicable.  The Offer is not scheduled to end on a predetermined date.

 

BANK ACCOUNT AGREEMENT

This Account Agreement (“Agreement'), contains the services available to you as a BankMobile customer.  These services include, but are not limited to, Mobile Banking including Mobile Check Deposit, Photo Bill Pay, and Person to Person (P2P) payments.  Additional details on these services can be located at https://www.bankmobile.com/.  The terms “we', “us' and “our' refer to BankMobile. The terms “you' and “your' refer to the account holders or any of them and anyone else with authority to conduct transactions on or exercise control over the account. Your account is also governed by the signature card you signed, the Truth In Savings Disclosure and any other applicable disclosures.

You should keep a copy of this Agreement, the disclosures, and all product information and feel free to ask questions about them.  You should substitute any later updated retail only versions of the documents when you receive them.

Scope of Agreement

This Agreement covers all types of retail deposit accounts that we offer, now or in the future, including checking account type products and savings accounts.

The Agreement does not cover safe deposit boxes, trust services, credit cards and non-deposit investment products.

Interest

If you have an account that earns interest, unless otherwise required by law or stated to the contrary in the truth in savings disclosure which describes your account(s), interest begins to accrue on the business day of deposit.  All interest earned will be rounded down to the next lowest cent.  If you earn less than $.01 for the monthly interest compounding period, no interest is posted for that time period. 

 

Account Ownership and Signature Requirements

Individual Account

An individual account is an account in the name of only one person.  Only that person may write checks or withdraw funds from the account, regardless of who actually owns the account funds.  Upon that person’s death, we will pay the funds in the account in accordance with the appropriate documents presented to us.

Joint Account

If your account is a joint account, any one of you may conduct all transactions on your account.  This means that we may pay all or any part of the account balance to any one of you and pay checks signed by any one of you.  We may also honor withdrawals, orders or other requests from any one of you.  Any one of you may place a stop payment on any item.  Each of you guarantees the signature of the other and authorizes the other to endorse for deposit and/or cash any item.  Either of you may appoint someone to act for you on the account (an agent or attorney-in-fact), but we may require the consent of all of you to the appointment.  If one of you dies, we may continue to pay checks signed by, and honor withdrawals, orders or other requests by an authorized signer or any one of you who survives.  If we receive written notice from any one of you or any authorized signer on the account not to permit withdrawals, or if we receive conflicting instructions from each of you, we may freeze (refuse to permit withdrawals or transfers from) the account.  The account may be frozen until we receive written notice, signed by all of you (including all authorized signers), as to the disposition of the funds.  Notice from us to any one of you is notice to all of you.

If your account is a joint account with no survivorship (as tenants in common), and one of you dies, we may freeze the account until we receive documents satisfactory to us instructing us how to treat the account.  Generally, the deceased owner’s equal share of the account will pass to his or her estate and not the surviving owner.  If your account is a joint account with survivorship, when one of you dies, the account will be owned by the surviving owner(s).

Transfer of Ownership

If you wish to add an owner to, remove an owner from, or otherwise change ownership of an account, we may require that the account be closed and a new account opened in the name(s) of the new owner(s).  If your account is a joint account, we may also require all owners' written consent.  You may not transfer or assign your account without our prior written consent.  We must approve any assignment or pledge of your account as security for a debt you owe.  Any assignment or pledge of your account remains subject to our right of set-off and security interest.  No pledge or assignment for security purposes will become effective until we have recorded it in our files.

Facsimile Signatures

If you use a stamp, computer technology, digital or other electronic means, or another device to imprint a facsimile of your signature on a check, withdrawal slip, or other form, you accept complete responsibility for maintaining security over any such signature device and are fully responsible for the use of the signature device even if you are not negligent.  You are also fully responsible for the signature which appears on any item presented to us for payment regardless of who used the signature device or how the facsimile signature came to be placed on the check, withdrawal slip or other form.  Any check, withdrawal slip or other form containing a facsimile signature will be effective as your signature or endorsement, whether or not the person who used the signature device was properly authorized to use it. 

Deposits and Collection of Items

You may make deposits to your account via the BankMobile application. You may also make deposits by mail. Please note that you will be unable to make deposits of cash.  Deposits can be mailed to BankMobile, 99 Bridge Street, Phoenixville, PA 19460. We may make other methods of making deposits available to you for your convenience.  We are not responsible for transactions by mail or outside our offices until we actually record them.

In receiving any item (such as a check, draft or Automated Clearing House ('ACH') credit) for deposit or collection, we will process the item in order to collect payment of it.  We do not, however, become the owner of the item and will not be responsible beyond the exercise of ordinary care.

If you receive any item payable to you with any endorsement missing, we may endorse it for you and deposit it in your account.  We are not required to accept items that contain more than one endorsement.  At our discretion, we may limit the amount that may be deposited or refuse or return any deposit.  You agree to reimburse us for any loss we incur because an item was not endorsed exactly as it was made out.

If after we received final payment of an item that a third-party claims that the item was altered, bore a forged or unauthorized endorsement, was counterfeit, or was otherwise not properly payable, we may withhold the amount of the item from your account until a final determination has been made of the claim or if the account is closed, make demand for payment from you.  We will not be liable to you for our actions.

We may adjust your account in our sole discretion to correct computation, transaction recording or other errors.  We will not be liable for errors, mistakes or negligence by other banks that process any items.  We will not be liable if the item is lost in transit or there is a delay in payment of the item.

All deposited items must be drawn off of a US paying bank. Items drawn on non- US paying banks will not be accepted for deposit.

Endorsement Standards

If you cash or deposit a check, your endorsement must appear on the back of the check within the first 1 1/2 inches from the left side of the check when looking at it from the front.  You may not include any other information in the remaining area on the back of the check.  We are not responsible for any loss due to a delay in returning the checks caused by endorsements that do not comply with these standards.  We are also not responsible for any loss due to endorsements that are not legible because of material on the back of the check (such as checks with carbon bands or strips) that prohibit us from placing our endorsement on the back of the check or that causes our endorsement to be covered.  To properly endorse a check deposited using our mobile app, your endorsement should read, “For Mobile Deposit Only'.  If you are mailing us an item to deposit, your endorsement should read, “For Deposit Only' and on a separate piece of paper, instruct us what account number the item should be deposited into.  You agree to reimburse us for any loss, expense and cost we may incur because you did not comply with these standards. 

Withdrawals

Current Balance - the balance in your account reflecting all deposits and withdrawals made.

Available Balance - the balance in your account which is currently available for withdrawal.   This balance is the Current Balance less funds that have been placed on hold.  These holds may include items deposited for collection, POS transactions, new account holds, or extended holds.   

All items, including items drawn on us, may be withdrawn by you only after we have received payment for the item (final payment).  We may charge back to your account the amount of any credit given to you for an item which is returned to us as unpaid.  If any item deposited to your account is returned to us, any interest earned on the item from the date the item was deposited to your account to the date the item was returned to us will be charged back to your account.  We will not be liable to you for any late payment or failure to pay the item except as set forth in this Agreement.  We are not obligated to cash any checks or other items drawn on your account that are payable to others.

We may refuse any request by you to withdraw or transfer funds from your account if your request is for an amount that is less than any minimum we require or exceeds any limit on the frequency of withdrawals of transfers that we established.  We may also refuse any request by you to withdraw or transfer funds if such withdrawal or transfer is by a method not specifically permitted by us.

We reserve the right at any time to require that you give us at least seven (7) calendar days' notice before you withdraw funds from a savings or money market account. Although we usually pay withdrawals or checks without notice on these accounts, doing so does not mean that we give up that right.

Overdraft Protection

You may choose to use another BankMobile account or your credit line (“overdraft account') to provide overdraft protection to an account.  When the current balance of your account is less than the amount necessary to cover outstanding checks and/or other debit items, funds will be transferred from the overdraft account to cover such checks or debit items.  The funds necessary to cover such checks and/or debit items will be transferred to the account provided sufficient collected funds are maintained or are available in the overdraft account.  Any transfer of funds to cover an overdraft is not an extension of credit, unless it comes from your line of credit with us.  If your overdraft account is a savings, there are limits on the number of transfers that may occur. 

Credit Error

If, for any reason, we credit your account in error or for an amount in excess of the amount to which you are entitled, you agree to immediately pay us the amount of the credit or excess amount.  We may deduct the amount of the credit or excess amount from your account or any of your accounts with us without notice to you.  We may also use any other legal remedy to recover the credit or excess amount.

Stop Payment Order

If you do not want us to pay a check you have written, you can request us to stop payment on it by the mobile application.  Any person who can act on your account may also place a stop payment order on any check or item written on your account via the mobile app.  You must tell us the exact amount of the check and the check number.  You should also tell us other information as required such as the date of the check, name of the payee and the information that is magnetically encoded on the bottom of the check.  We may take up to twenty-four (24) business hours to determine whether we can act on a stop payment request.  If any of the information you provided is incomplete or incorrect, or you use a check that is not magnetically encoded to our specifications, or if we do not have a reasonable opportunity to act on it, we will not be liable if we fail to stop payment on the check or if our payment of the check causes other checks to be returned for insufficient funds.  We will not be liable for mere clerical errors, inadvertence or a reasonable mistake of judgment if we pay the check over a stop payment order.  In no event will we be liable if we pay the check on the same day we receive your stop payment request.  If we pay a check over a valid stop payment and re-credit your account for the amount of the check, you agree to transfer to us all of your rights against the payee of the check or person holding your check.  You also agree to assist us in any suit or action we may take against the payee or holder of the check.  We will not honor stop payments on cashier's checks or other bank official checks, certified checks or money orders.  You may not place a stop payment on a check that has already been paid or otherwise accepted by us.

A stop payment will be valid for 180 days, but you may renew it before the 180 days expires.  When the 180 days expires, we do not have to notify you before we pay the check.  A stop payment may be revoked or released, in writing, but only by the person who placed the stop payment, regardless of the ownership of the account.

If you place a stop payment, you agree to reimburse us for all costs and expenses we incur, including our attorneys' fees, because of our refusal to pay the check. 

You may stop a preauthorized ACH payment from your account by notifying us at least three (3) business days before the scheduled payment date. Call 1-844-969-2265, 9am to 9pm EST Monday to Saturday or email us at help@bankmobile.com, See the section “Electronic Funds Transfer Disclosure' for additional information on how to place a stop payment on a preauthorized ACH payment.

Limitations on Preauthorized Transfers

For your savings accounts, you may make no more than six “Convenient' transfers or withdrawals in one month (from the 21st of one month to the 20th of the next month).  “Convenient' transfers and withdrawals, for purposes of this limit, include preauthorized, automatic transfers (including but not limited to transfers from the savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer, and transfers made by check, debit card, or other similar order made by the depositor and payable to third parties.

Other, less-convenient types of transfers, such as withdrawals or transfers made by mail, or by using an ATM, do not count toward the six-per-statement cycle limit.

Continually exceeding these limits may result in your account being converted to another account that permits unlimited check writing privileges or closed. 

Postdated Checks

You must not date a check later than the date you write it.  If you do and the check is presented to us before its date we may, at our option, either pay the check or return it.  We will not be liable to you if we pay the check before its date.

Stale Checks

We may at our option pay a check that is more than six (6) months old, but we are not required to do so.  We will make our decision without consulting you.

Check Legends

We may disregard information on a check other than the signature of the person who wrote the check, the name of the bank on which it is drawn, the name of the payee, the amount of the check, and any other information that appears on the MICR line at the bottom of the check.  We are not required to comply with any notation on a check such as “paid in full', “two signatures required', “void after 60 days'. “not valid over $1,000'.  Unless we have agreed in writing in advance to do so.  You must reimburse us for any loss or expense we incur because you wrote or deposited a check containing extra information.

Waiver of Presentment, Dishonor, Nonpayment

If another institution refuses to pay a check (called “dishonor' or “non-payment') which you deposited or cashed, we may put the check through for collection again.  We will not always give you notice that the check was dishonored or not paid before we put the check through again for collection.  This means that in this instance you are “waiving' your right to “notice of dishonor' or “notice of non-payment'.

You agree that we may delay putting a check through for collection that you have deposited to your account.  This means that you are “waiving' your right to have us begin the process of “presenting' the check by the next business day.

Payment to Unauthorized Persons

We are not responsible for any withdrawals or other transactions made by someone impersonating you or claiming to act under your authority if we have not previously received written notice of the loss or theft of your checks, card(s), or of your death.

Disputes Affecting the Account

If we believe that there is a dispute among the owners or signers of any account, we may, in or at our sole discretion, place a hold on the funds in the account pending resolution of the dispute to our satisfaction.  We may, instead, permit all owners or signers to continue to use the account or we may deposit the account balance into a court for a court order determining who is authorized to withdraw funds from the account.  We will not be liable for taking any of these actions.  You must reimburse us for all expenses and costs we incur, including reasonable attorney’s fees.  We can deduct any of our losses, costs or expenses from any of your accounts without giving you any notice.

Adverse Claims

If a person other than you makes a claim to your account, we may choose not to act on that claim until we receive a court order.  We may, however, act on the claim if the person agrees in writing to pay us for any losses, damages, costs and expenses we incur (this is called indemnification).  We are not liable if we pay a check or withdrawal on your account, even if we act after we receive notice of the claim.

Your Death or Incapacity

We may accept, pay, and collect checks and other items after you die or if a court finds you unable to handle your affairs (you are “adjudicated incapacitated') until we know of your death or receive a court order of your incapacity and have a reasonable opportunity to act.  Even if we have knowledge of your death, we may, for fourteen (14) calendar days after the date of death, pay checks written before your death.  We will not pay such checks, however, if we receive a stop payment from your legal representative or other persons who can demonstrate having a legal interest in your account.

Periodic Statements

If you have an account that receives a periodic statement, the statement will be made available via the BankMobile application.  If any statement notification is returned to us because of an incorrect email address, we may stop sending such notices to you.  You must exercise the same care in reviewing statements we make available to you via the BankMobile application as if they had been mailed.

Notification of Errors, Unauthorized Signatures, Forgeries, Alterations

You should look over your statements carefully and balance your account promptly.  You should look for alterations, unauthorized signatures, unauthorized electronic payments, ATM, point of sale, check card transactions, forged or missing endorsements and other mistakes or irregularities.  If you find any of these or any other errors on your statement, you must notify us immediately.  We will consider the statement correct unless you notify us in writing, at the address indicated on the statement within sixty (60) calendar days from when the statement is first made available to you.  We will not be liable to you for payment of any forged or altered check if you fail to notify us of the forgery or alteration within this sixty (60) day period and your failure causes us to suffer a loss.  We will not be liable for a forged or altered check if the forgery or alteration resulted from your negligence.  This applies even if the items were forged or altered so cleverly (as by unauthorized use of a facsimile signature device, computer, photocopy machine or otherwise), that a reasonable person could not detect the unauthorized or forged signature or endorsement or alteration.  You may have to bear losses that could have been prevented if you had discovered and told us within the sixty (60) day period of errors or unauthorized transactions.  This sixty (60) day limitation applies regardless of whether we used ordinary care.

Lost and/or Stolen Checks, ATM and/or Debit Cards or Other Account Access Means

You must notify us within twenty-four (24) hours after any of your account information, checks and/or Debit Cards have been lost, stolen, destroyed or leave your possession without your authorization.  You must also notify us within twenty-four (24) hours after your Personal Identification Number (PIN) or other information, equipment or electronic record that could enable unauthorized access to your account(s) leaves your possession or control without your authorization.  See Electronic Funds Transfer Disclosure for further details. 

Business Day

Each day is a business day except Saturdays, Sundays, and bank holidays.  Thus, a deposit is considered made only on a banking day, i.e., a day the bank is open to the public for carrying on substantially all of its banking functions.

After-Hours Deposits

Any deposit which is made by you on a Saturday, Sunday, bank holiday or after the close of business on any business day will be considered by us to have been made on the next business day.

Automated Clearing House (ACH)

Automated Clearing House (ACH) transactions are governed by the Electronic Funds Transfer Act (EFTA).

Wire Transfers

Wire Transfers will be governed by any wire transfer agreement or other agreement you sign covering such transfers.  They will also be subject to Article 4A (Funds Transfer) of the Uniform Commercial Code (UCC) of the state of Pennsylvania. Any payments made to you are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided by Article 4A of the UCC.  We are not required to give you notice of any payment order or credit to your account by wire or ACH. 

Attachment or Garnishment and Levy

Any attachment, garnishment or levy against your account is subject to our right of set-off and security interest.  If we receive an attachment, garnishment, or levy, against you or any part of your account, we may refuse to allow you to make any withdrawals from the account until the attachment, garnishment or levy is satisfied.  We may pay the amount demanded to the sheriff, tax authority, or court without notifying any owner of the account.  We may take these actions even if the attachment, garnishment, or levy affects only one owner of a joint account.  We will, to the extent required by law, notify you in writing whenever we receive an attachment, garnishment, or levy affecting your account.  We are not liable to you for our actions even if our holding or paying the money leaves insufficient funds to cover outstanding checks or other items presented for payment.  You are responsible for any expenses we incur as a result of an attachment, garnishment, or levy and we may off-set such expenses from any accounts you have with us. 

Set-Off and Security Interest

If you ever owe us money, we can, to the extent allowed by law and without notice to you, use the money from any or all your accounts (except IRA, Irrevocable Trust or Custodian Accounts) or any account in which you are a co-owner to pay the debt (set-off).  We can do this no matter what kind of debt it is or how the debt arose.  In addition to our right of set-off you grant us a consensual security interest in your accounts.  Your opening of an account with us will be considered to be your consent to set-off against your accounts if any present or future law or regulation requires such consent.  We will not be liable for any checks which are not paid because we set-off or otherwise use funds from your account to pay a debt or obligation you owe us.  We may use your accounts to pay the debt or obligation even if it results in an interest penalty or return of subsequent checks.  If the account is a joint or multiple party account: each joint or multiple party account owner agrees that we may exercise our right of set-off against any individual account(s) of each account owner for debt of the joint or multiple party account.  Each joint or multiple party account owners also agrees that we may set-off against the joint or multiple party accounts for an individual debt of each account owner.  You agree to hold us harmless from any claim arising as a result of our set-off.

If Federal benefits or other payments (such as Social Security benefits) are deposited to your account after you are not eligible for such benefits, we may set-off against your accounts to recover any funds we are obligated to return to the payor because of your ineligibility.

Dormant Accounts

If you have not made a deposit to or withdrawal from (including a check) your account for one year, and we have not received anything from you in writing concerning your account during that time, we may consider the account dormant. If your account earned interest, we may continue to pay interest on the account after it becomes dormant at a variable interest rate determined by us in our sole discretion.  We may change the rate without limit and without notice to you. We are generally required by law to deliver to the applicable state agency any funds in an account if you do not initiate a transaction (deposit or withdrawal) for a period of time as defined by applicable state regulation. We will provide applicable notices to you, as required by law. You agree that we are not responsible for any funds delivered to the state in compliance with the laws of the applicable state agency.

How We May Contact You

You agree that we may contact you using any contact information you have provided to us including but not limited to contact via email, text, mobile phone, home phone, private messaging via social media, and/or regular mail.

Change of Contact Information

You must notify us immediately in writing of any changes in your address or the address where you want us to send information about your accounts.  This also applies to your e-mail address.  You must also notify us in writing when your telephone number(s) change.  All such notices must be submitted through the BankMobile application.  All such notices will be effective no later than thirty (30) calendar days after we receive them.  We may require you to pay any expenses we incur as a result of not having your current address and telephone number.

Notices

Unless otherwise provided in this Agreement or another disclosure provided by us, any notice from you must be in writing.  Any written notice that you give us will be effective when it is actually received by us, provided we have reasonable opportunity to act on it.  Any written notice that we give to you will be effective when it is deposited in the U. S. mail or delivered at you to the address in our records.  If your account is a joint or multiple party account, notice from us to any one of you is notice to all of you.

Refusal of Deposit, Termination of Account, Termination of Type of Account

At our discretion, we may refuse to accept a deposit, limit the amount of a deposit, or return a deposit.  We may also refuse to pay an item, or limit or discontinue permitting withdrawals from your account

We also reserve the right at any time and in our sole discretion to refuse to open any account, close any account, modify the type of service offered on our accounts, or discontinue, or withdraw offering any particular type account.

Closing the Account

We may close your account at any time and for any reason including but not limited to abusive or inappropriate behavior to any team member/BankMobile employee, without notice to you. We will close your account when you incur 25 or more instances of Non-Sufficient Funds (NSF) and/or Uncollected Funds (UCF) against your account in a calendar year. We will mail or deliver to you notice of the closing of your account along with a check to the address in our records.  We may close the account on the same day we mail or deliver the notice.  You can close your account by giving us fourteen (14) calendar days' written notice and by no longer using your account.

We will pay you the balance in your closed account, less any applicable debit items, premature withdrawal penalties, set-offs and other amounts you owe us.  If an interest-bearing account is closed before interest is credited, we will pay you the interest unless we have stated that we will not do so in either the truth in savings disclosure which describes the account you are closing or as part of the document you signed to agree to the account. Further, for security reasons, we may require you to close your account and to open a new account if (a) there is a change in authorized signers, (b) there has been a forgery or fraud reported or committed involving your account, (c) any account checks are lost or stolen, (d) you have too many transfers (see Limitations on Preauthorized Transfers) from your account, (e) any other provision of our Agreement with you is violated.  After the account is closed, we have no obligation to accept deposits or pay any outstanding checks.  You will still be responsible for any obligations which arose before your account was closed. 

Verification of Identity and Information

We may from time to time establish requirements for identification that you will need to provide to us when you open new accounts or conduct certain other business with us. For your protection, we may require you to enable geo-location services when using our mobile app or debit card.  Failure to do so may result in our inability to conduct certain transactions, or process certain requests on your behalf.

We may, at our discretion and at any time, obtain credit reports and otherwise verify information supplied by you when you applied for an account with us or applied for any service we offer.  We may obtain credit reports on you at any time for any legitimate business purpose.

You authorize BankMobile to request your mobile carrier to use your mobile subscriber details for verifying your identity. Those details may include name, billing address, email, and phone number.

Privacy of Account

Your account and its benefits are for your proper use only.  No third party or other beneficiary shall have any rights in any account except with your prior written consent.  You must not give your account number to any unauthorized person.  You agree to take all reasonable steps to keep any unauthorized person from learning your account number or other means of accessing your accounts.  This includes but is not limited to making your account number, online and mobile application credentials, Debit Card number, PIN or password accessible to others using a computer, mobile device or other electronic means or using means that are not secure to store or transmit such information.  If you let an unauthorized person learn your account number or other information necessary to access your account, we will not be liable for any of your losses or damages which result from withdrawals or other uses of your account.  If you provide your account number to someone, you authorize us to pay any resulting items presented to us.

Responsibility for Loss

Provided that we act in accordance with the terms of this Agreement and other documents governing your account, you agree that you, your estate, heirs or legal representatives will not hold us responsible for any losses, damages, liabilities, costs, and expenses, including reasonable legal fees that arise from the use of your account.  You and your estate, heirs or legal representatives also agree to reimburse us for all our losses, damages, liabilities, costs, and expenses, including reasonable legal fees, which arise from the use of your account.

Liability

Each of you agrees to be jointly and individually liable for all obligations arising out of the ownership and maintenance of your account, including liability for any account shortage, overdrafts, and negative balances.  This means that each of you is fully and personally obligated under this Agreement whether the obligation is caused by you or another with access to your account.  This liability is due immediately, and we can deduct it directly from the balance of any account you have with us.  You are liable regardless of whether you signed an item, knew about it, or benefited from a charge or overdraft.  Your liability includes our cost of collecting any amount you owe us and, to the extent permitted by law, our reasonable attorney’s fees.

Bank’s Duty of Care and Limitation on Liability

Our responsibility is limited to our exercise of reasonable and ordinary care.  We use automated systems to process checks and other transactions.  You agree that if these systems are consistent with general banking practice, our use of them constitutes ordinary care and we may not be liable to you for forgeries or alterations or other errors not detected by these systems.  We may rely only on information that is magnetically encoded on checks or other items even if this information is different from other information on the check or item.  We will not be liable to you or any other person for any loss caused by an event that is beyond our control, such as fire, natural disasters, war, national emergencies, riots, strikes, computer failure, or loss of power, communication or transportation facilities.  In no event will we be liable for any indirect, special or consequential damages of any kind or punitive damage even if we were advised that such damages were possible.  This limitation on our liability will apply regardless of the form of any suit or action; for example, regardless of whether the claim is based on contract or tort (negligence).

Our obligations and your rights as set forth in this Agreement are the only rights and obligations which govern, and no other warranties are expressed or implied.

Amendment

We can change this Agreement and other documents or agreements that are made as part of this Agreement at any time.  We may also change the terms described in any of our disclosures.  If the change is not in your favor, we will give you notice at least thirty (30) calendar days before the change will take effect.  We will give you notice in writing or by any other method permitted by law.  For other changes, we will give you reasonable notice in writing or by any other method permitted by law.  This Agreement may not be changed orally.

Waiver of Terms

We may waive enforcing any of the terms of this Agreement on any occasion.  Any waiver will not affect our right to enforce any terms with respect to other customers or on other occasions with you.  Any waiver will not modify this Agreement.

Interpretation

When you open an account with us you agree that our interpretation of this Agreement, any rules adopted by us from time to time, other documents which are a part of this Agreement and any of our disclosures is final and binding.

Imposition of Back-Up Withholding

At the time you open your account, you will provide us with a tax identification number (TIN), which you certify as correct under penalty of perjury.  In accordance with prevailing law, we will use that number to report any interest earned on your account to the Internal Revenue Service (IRS).  If you fail to provide us with a TIN, you do not provide the correct TIN, or you fail to certify the TIN, you may be subject to back-up withholding if the IRS notifies us that the furnished TIN is incorrect, you are notified by the IRS that you are subject to back-up withholding for failing to report all interest and dividend payments on your tax return, or your failed to certify to us that you are not subject to back-up withholding, we are required to withhold and pay to the IRS a percentage of any payment of interest on your account.  If we do back-up withhold and later you are no longer subject to back-up withholding, you may have to contact the IRS to obtain a refund of the money withheld.

Notification of Incorrect TIN

We will send you a notice if we are notified by the IRS that your TIN is incorrect.  You will then have a period of time as provided by law to provide your current surname and TIN to us.  If you do not provide this information within the appropriate time period, we must begin back-up withholding as required by law.

Applicable Law

Your account is subject to both state and Federal laws; including the provisions of the Pennsylvania Uniform Commercial Code, the rules and regulations of the Federal Reserve Board and operating circulars of the Federal Reserve Banks, the regulations of Federal Deposit Insurance Corporation, the regulations of state and Federal bank supervisory authorities, and all other applicable state and Federal laws and regulations.  Your account is also subject to our Articles of Incorporation and by-laws.  All BankMobile transactions are considered to be performed in the Commonwealth of Pennsylvania. If any provision of this Agreement is found to be unenforceable, all remaining provisions will continue in full force and effect. 

Electronic Banking

You agree to be bound by the terms and conditions provided in all BankMobile disclosures and agreements, or any other agreement governing your account or an account related service which occurs through BankMobile.  You agree that the use of your Login ID and Password, are the legal equivalent of hard copy written documents. You agree that your "clicking" on any "buttons" stating "I agree", "Accept", or "buttons" with similar intent, shall have the same legal effect as if you had placed your signature by hand on hard copy versions of such electronic pages.  By clicking on such buttons, you agree to be legally bound with us to the content on any such pages.  You are encouraged to download or print for your future reference copies of all BankMobile documents and agreements presented to you. See the BankMobile E-sign agreement for additional information.

 

US PATRIOT ACT NOTICE

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT - To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

 

EMAIL, PUSH, TEXT MESSAGING & ALERTS

Alerts

BankMobile uses email, push messaging (on-device pushed messages) and text messaging (SMS, or “Short Message Service') as a way to validate your user credentials, protect against fraud and account misuse, and to provide alerts for account activity, transactions, balance and security alerts - based largely upon settings that are controlled by you.

By entering your mobile phone number(s) and successfully activating text Alerts, (i) you acknowledge and represent to BankMobile that you are the authorized user of the mobile phone(s) that you link to the text Alert service or have been granted permission by the authorized user of the mobile phone(s) to enroll such mobile phone(s) in the service; (ii) you grant BankMobile express permission to send text messages to that (those) mobile phone(s) through your wireless phone carrier unless and until such permission is revoked in accordance with these terms and conditions; and (iii) by granting such permission to BankMobile you are hereby requesting to receive such messages in spite of the fact that your number may otherwise be on the federal, or a state's, do not call list and you agree, to the maximum extent permitted by law, that such text messages shall not be in violation of such do not call list(s).

Activate, Change or Stop Alerts: To activate text Alerts, log into your BankMobile app or website account, then go to “Settings' and select “Notifications and Alerts.'  Follow the instructions to change, enable or disable Alerts.

Pricing: Message and data rates may apply. BankMobile does not charge a fee for Alerts. Check with your wireless phone carrier for your plan details.

Message Frequency: Number of messages varies per user.  It depends on the type of alerts you choose to have sent to your mobile phone as well as the manner in which you conduct banking activities on your account.

Carriers Supported List: BankMobile supports sending text messages to over 1,800 mobile carriers, including most US and international carriers.

Marketing Messages

Occasionally, BankMobile uses email, push messaging and/or text messaging to inform customers about new bank services, features or offers.  You can set your preferences with respect to these communications at any time by logging into your BankMobile app or website account, then go to “Settings' and select “Notifications and Alerts.'  Follow the instructions to change, enable or disable these messages.  For email messages, you can also select the “unsubscribe' link at the bottom of the emails to indicate your preferences