You must sign up for online banking, receive e-statements and obtain a debit card to be eligible for this account. Your account may be closed if you do not choose to receive these services within two (2) months of opening the account, or if you unsubscribe from these services at any time after opening the account. Minimum balance to open the account – You must deposit $10.00 to open this account. Fees – An account service fee of $9.00 is charged each month. An account is not overdrawn by a monthly maintenance fee. An account with a balance of less than $9.00 is valued at the available amount, which reduces the balance to zero. Additional Features – Mobile check deposit limits of $1,000.00 per day; Mobile registration limits of $2,000.00 per 10 days. Daily debit card limit of $250.00 for the first 30 days and increases to $500.00 on day 31. The daily debit card limit includes all transactions, including ATM withdrawals, payments with mobile wallets, paying a friend, and more. In order for your deposit to be deemed to have been received on the business day you make the deposit, the deposit must be made before our deadline.
The automated processing of the large number of cheques we receive prevents us from examining or searching for restrictive captions, restrictive mentions or other special instructions on each check. Examples of restrictive cheque captions include « must be presented within 90 days » or « not valid for more than $1,000.00 ». The beneficiary`s signature as well as the words « for deposit only » is an example of a restrictive endorsement. For this reason, we are not required to abide by any legends or restrictive notices or other special instructions on cheques that you have written, unless we have agreed to the restriction or instruction in writing. Unless agreed in writing by us, we are not responsible for any loss, claim, damage or expense resulting from the imposition of such restrictions or instructions on your cheques. We will only issue an interim credit until the collection is final, for all items except cash that we accept for deposit (including items drawn « on us »). Before the settlement of an item becomes final, we act only as an agent, regardless of the form of approval or lack thereof of the item and although we will provide you with interim credit for the item. We may cancel any interim credit for lost, stolen or returned items. Unless prohibited by law, we also reserve the right to transfer to your account the amount of an item deposited or exchanged for your account that was originally paid for by the paying bank and is subsequently terminated due to an allegedly falsified, unauthorized or missing note, change request, coding error or any other issue that, in our sole discretion, justifies the chargeback of the credit, is returned to us to your account. You authorize us to attempt to recover previously returned items without notice, and by attempting to recover them, we may authorize the paying bank to retain an item beyond the midnight period.
Actual credit for deposits in foreign currencies or payable in foreign currencies will be made at the exchange rate applicable at the time of final assumption in US dollars. We are not responsible for third-party mail or custodian transactions until we actually record them. If you send us a deposit and you will not be present at the deposit, you must provide us with a detailed list of the deposit (payment slip). To process the deposit, we will review and record the deposit and credit the deposit to the account. If there is a discrepancy between those indicated on the detailed list of deposits and the amount we set as an actual deposit, we will inform you of the discrepancy. You are only entitled to the credit for the actual deposit determined by us, regardless of what is indicated on the decomposed payment slip. We process and record all transactions received after our « daily cut-off time » on a business day when we are open or on a day when we are not open, as if they had been initiated the next business day, we are open. At our discretion, we may take an item for collection and not for deposit. If we accept a third-party cheque for deposit, we may require third-party endorsers to verify or guarantee their confirmations or confirm in our presence. If, for any reason, we are required to reimburse the federal government all or part of a performance payment made directly to your account, you authorize us to deduct the amount of our liability to the federal government from the account or other account you have with us without notice and at any time.
unless prohibited by law. We may also use any other remedy to recover the amount of our liability. This policy statement applies to all deposit accounts. This Retention Agreement (« this Agreement ») governs all deposit accounts with First-Citizens Bank & Trust Company and supersedes all prior deposit account agreements. By opening or maintaining a deposit account with us, you agree to the terms of this Agreement. This is a legally binding contract. Your use of a Deposit Account constitutes your acceptance of the terms of this Agreement and the terms of the applicable disclosure of products and fees, which is incorporated herein by reference. We have no obligation to open an account for any part and an account will not be opened and/or deemed valid until we have received (i) all the necessary information and documents (if necessary) to open the account and (ii) the first deposit into the collective funds.
If you issue a cheque drawn on us (including, . B, a paycheque) and that a person who is not our customer attempts to cash it at one of our branches, you agree that, to the extent permitted by law, we may charge the non-customer a service fee as a condition of cashing the cheque. We charge this fee to offset any additional costs and risks we incur if the item is not deposited with another financial institution and is not presented to us for payment via the automated cheque collection system. We may charge you the fee without notice and for items that are drawn into your account or that we have issued at your request. You also agree that (i) we may require the non-customer to provide additional identifications and/or comply with other security measures that we may impose; and (ii) we will not be liable for any unlawful dishonor for refusing to cash the check if the non-customer refuses to pay the fee or comply with our security measures. Funds from the following deposits in your account are available on the day we receive the deposit: IRA & KEOGHs – You may not withdraw capital from an IRA or KEOGH term deposit account prior to the due date without our consent and without penalty. The penalty imposed is equivalent to three months of simple interest on the amount withdrawn, regardless of the duration of the deposit of the money. No penalty is imposed if the withdrawal occurs after you have been disabled or declared mentally incapacitated, for medical expenses or after your death. In the case of education savings accounts, no bank penalty is levied if the payment is made for eligible university expenses. For more information on the terms of your IRA, see your IRA documents. We may also delay the availability of funds beyond the periods described above when a deposit is made to a new customer account. If you are a new customer, the following special rules may apply for the first 30 days after opening your account.
We are required to pay premiums of a value to the Federal Deposit Insurance Corporation (FDIC) for deposit account coverage. We reserve the right, to the extent permitted by law, to charge a fee to cover the amounts we are required to pay in FDIC Rewards to any or any of the different types of accounts we offer, provided that we charge the fees consistently. The amount of these fees, if we choose to charge them, may change depending on the cost of our FDIC insurance. The fees, referred to as the « Deposit Guarantee Fee, » are set forth in our disclosure of products and fees. We may offer you different methods to deliver your deposits to us, including, for example, by personal presentation to a store manager, drop-off by post, drop-off at our overnight depots, delivery to the counter for further processing, delivery by courier service and electronic transmission. Your use of any of these depositary services is subject to a specific agreement we have for that service and all such agreements, which may be amended from time to time, are incorporated herein by reference. You acknowledge and agree that whether we pay or reject an NSF item and return it unpaid, the service fee we charge for the NSF item is a service fee charged as part of administering your deposit account and in part to discourage NSF items. You agree to pay the service fees specified in our product and fee disclosure, whether we pay or reject an NSF item and return it unpaid. You acknowledge that we will transfer your money in accordance with your transfer instructions and that as long as we follow your transfer instructions, we will not be liable if your money is ultimately sent to an involuntary recipient/recipient. .