Your New Accounts Overview

Your New Accounts Overview
Important information for
Bank of America® customers
Account conversion date: October 20, 2014
Debit & ATM card conversion date: October 17, 2014
Additional details are in this booklet.
Welcome to First Tennessee!
We’re excited to welcome you as a new First Tennessee customer. And we want you
to know that we’ve been working to make this transition as easy as possible for you.
This booklet is designed to help you get to know your new accounts and services at
First Tennessee Bank. We wanted to get this to you as soon as possible, so some details
may not have been finalized by the printing of this booklet. For updates, please visit
ftb.com/welcome — where you’ll find a web version of this booklet, as well as other helpful
information. And we’ll be adding new information to the web site as it becomes available.
Many of the banking associates you already know from Bank of America will continue to
deliver the financial services you need and the customer service you deserve. If you have
any questions, please feel free to contact your current Bank of America banking center.
Beginning on October 20, 2014, you can get information about your accounts at any
First Tennessee location or by calling First Link at 800-382-5465.
TABLE OF CONTENTS
Consumers
Important Consumer Account Information
2
Consumer Checking Accounts
3
Checking-Related Products & Services
5
Consumer Savings
7
Consumer CDs
8
Consumer IRAs
8
Online Services
9
Other Consumer Products
10
Business Customers
Important Business Account Information
11
Business Checking & Savings Accounts
12
Business Checking & Savings Product Features
13
Business Online Services
16
Business Lending & Other Business Services
17
Financial Center Locations
21
1
Important Consumer Account Information
In the coming days and weeks, you may have questions about the conversion of your Bank of America accounts
to First Tennessee accounts. This booklet is designed to help walk you through the products, features, and services
that will soon be available to you. The information in this booklet is being provided to you based on your active
accounts as of August 8, 2014.
Your checking account number and routing number will change. You will receive an initial supply of welcome
checks before the conversion with your new account and routing number, along with a coupon to order
complimentary personalized checks. Your Bank of America checks can be used until October 20, 2014. Please
begin using your First Tennessee welcome checks on October 20. If older Bank of America checks are still
outstanding (previously written but not cashed), they will be honored until January 8, 2015.
You will receive your new savings account number on the first statement following conversion. For CDs and IRAs,
your account number will appear on your next maturity/renewal notice or year-end statement.
Note: The routing number for all Bank of America accounts will change. Please refer to the chart below to find
your new routing number. You will need your First Tennessee routing number to establish any future direct deposits
or automatic debits. IMPORTANT: Please wait until October 20 to use your new account number and routing
number. Using the new numbers prior to October 20 may result in your transaction(s) being rejected.
If your Bank of America banking
center is located in…
On October 20, 2014, your new
First Tennessee routing number will be…
Columbia, TN
Lewisburg, TN
Lawrenceburg, TN
064101398
Rockwood, TN
Kingston, TN
064207195
Sparta, TN
064101903
For your current direct
deposits or automatic
debits (ACH) on your
checking or savings
accounts, you do not
need to make any changes.
We will send notice of the
new account number and
routing number to each
business posting a deposit
or withdrawal.
You can begin using
First Tennessee’s Banking
Online service on
Johnson City, TN
064201450
October 20. Most
customers will keep their
Greeneville, TN
064204347
current Bank of America
Kingsport, TN
Online Banking User
064208042
Bristol, TN
ID with First Tennessee’s
Banking Online service.
If you have a User ID that is already in use at First Tennessee, your User ID will need to be changed. You will
be notified via email with further instructions. For security reasons, new passwords will be emailed to you via the
email address you have on file with Bank of America.
Waverly, TN
064005203
There will be other differences that we want you to know about. Please see Online Services beginning on
page 9 for additional important information, and also visit ftb.com/welcome for the most current details
about your online experience.
All account information, including any fees or charges listed in this booklet, is accurate as of July 22, 2014.
Features and fees are subject to change with appropriate notice. Please also see the enclosed Bank Depositor
Agreement and Fee Schedule for additional details.
2
Consumer Checking Accounts
Consumer Checking Comparison Chart
If your consumer Bank of America
checking account is…
On October 20, 2014, your new
First Tennessee checking account will be…
Enhanced Checking
Premium Checking
Interest Checking
Classic Interest Checking (all relationships)
Regular Checking (all relationships)
Advantage with Tiered Interest Checking
Advantage for Seniors
Premier Checking
Senior Economy Checking
Select Checking
eBanking
CampusEdge
Core Checking
Express Checking
Essentials Checking
Classic Checking
SafeBalance
Access Checking
For former Bank of America checking accounts converted to First Tennessee accounts, monthly service
charges will be waived for twelve months, until your September 2015 monthly statement cycle.
Features that apply to all First Tennessee consumer checking accounts in this booklet:
• Free Banking Online with Bill Pay
• Free Mobile Banking and Mobile Deposit1
•Free standard First Tennessee Visa® debit card with First Tennessee Cash Rewards®.
Visit ftb.com/cashrewards for more information.
• CD rate bonus. Visit ftb.com/cdratebonus for more information.2
• Four available overdraft protection plans. Visit ftb.com/protect for more information.3
• Free electronic statements
• Specialty checking options including: Big Orange Banking, Blue Raider Checking, Grizzlies Checking
and Tiger Checking.
1
obile Deposit is subject to eligibility requirements. There may be charges by your cellular provider associated with data usage on your phone.
M
Check with your cellular provider for more information.
2
D must have a minimum term of 12 months and a minimum opening deposit of $1,000. This term requirement is accurate as of
C
July 22, 2014, and is subject to change. Bonus cannot be combined with any other special offer, including promotional rates and other bonus
rate offers. Renewing CDs will earn the then-current standard rate. To continue to receive the rate bonus on a renewing CD, contact a Financial
Services Representative within seven (7) days of your renewal date. The rate bonus is available with a new or existing First Tennessee personal
checking account. Customers who close their checking account will no longer be eligible for a CD rate bonus. Early withdrawal penalty varies by
CD type. We reserve the right to change or discontinue the rate bonus program at any time, without notice, but the bonus will apply through your
then-current term.
3
lease visit a financial center to apply. Overdraft protection plans covered by an Overdraft Services Agreement are subject to bank and credit
P
approval. A $15 overdraft protection transfer fee applies. This fee is charged each day that a transfer is made and is limited to once per day per type
of plan. No fee is charged if the transfer is less than $5. The fee will be waived for the first year, beginning October 20, 2014, for Bank of America
customers converting to First Tennessee.
3
Premier Checking
•After the 12-month waiver, a $9 monthly service charge (or the fee then in effect) will apply. This fee will be
waived if combined deposit balances are more than $5,000 (including checking, savings, CDs, and bank IRAs).
Balances are determined on the closing date of the checking account’s monthly statement cycle.
•Free ATM use in the United States. We rebate the foreign ATM fee charged by the ATM owner and waive
our own surcharges.1
• Free standard wallet checks
• 2 overdraft fees waived per calendar year 2
• Free cashier’s checks
• 50% discount on safe deposit box (subject to availability)
• Earns tiered interest
Select Checking
• After the 12-month waiver, a $9 monthly service charge (or the fee then in effect) will apply. This charge is
rebated if your account has at least one direct deposit and 15 customer-initiated debit transactions (includes
checks, ATM withdrawals, debit card transactions and online bill payment (except for recurring payments —
does not include ACH) per monthly statement cycle.
• After the 12-month waiver, a $2 paper statement fee will apply. However, online statements are free.
• No minimum balance requirement
• 1 overdraft fee waived per calendar year2
Express Checking
•After the 12-month waiver, a $5 monthly service charge (or the fee then in effect) will apply.
This charge is rebated if your account has at least one direct deposit per monthly statement cycle.
• No minimum balance requirement
• Electronic/online statements are required
• Student Fee Waiver: 12-month waiver placed on service charge each year for students showing proof with student ID, maximum age 23
Classic Checking
• After the 12-month waiver, a $6 monthly service charge (or the fee then in effect) will apply.
• No minimum balance requirement
Access Checking
• After the 12-month waiver, a $3 monthly service charge (or the fee then in effect) will apply. A $2 paper
statement fee will apply, but online statements are free.
• Paper checks are not available for Access Checking. An ATM card will be issued.
NOTE: If you currently have an automatic transfer set up between two consumer accounts (i.e. $25 transferred
every Friday from your checking to your savings account), no changes are needed. This will continue to post as it
does today. This assumes that both accounts convert to First Tennessee accounts.
1
When using ATMs outside the U.S., a 1% International Service Assessment Fee will apply.
2
$35 fee may be assessed, limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more. Also, a $25 fee is
A
charged on the 15th and 35th day that an account remains continuously overdrawn. Fees may be imposed for covering items created by check,
in-person withdrawal, ATM withdrawal, or other electronic means. When your account is overdrawn, you are obligated to bring it to a positive
balance immediately. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not
pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.
4
Checking-Related Products & Services
Debit & ATM Cards
• A new Visa®-branded debit card will be issued prior to the conversion. These cards will automatically be activated for use beginning at midnight on the morning of October 17. You can begin using your
First Tennessee debit card at that time and destroy your Bank of America card. If you do not receive your
new debit card, a new one can be issued at any First Tennessee financial center on or after October 20.
• If you have an ATM card on your checking account, a new card will be issued prior to October 17.
These cards will automatically activate at midnight on the morning of October 17. You can begin using your
First Tennessee ATM card at that time and destroy your Bank of America card. If your primary account with
Bank of America is a savings account, you will not receive a new card from First Tennessee. Come visit us at
any of our financial centers to open a new checking account along with a debit or ATM card.
• If your primary account with Bank of America is not a checking account, you will not receive a new debit or
ATM card from First Tennessee.
• You will receive a new PIN for your First Tennessee debit or ATM card, mailed separately from your card.
If you would like to change your PIN, you can do so at any First Tennessee ATM or by calling 800-382-5465
on or after October 17. You may also visit any First Tennessee financial center to change your PIN on or after
October 20.
• When using your PIN, your First Tennessee debit or ATM card will have a daily cash withdrawal limit of $600 per card each business day. Purchases made using your PIN from Visa merchants who accept our card will be limited to $2,500 per card each business day.
• When you receive your new card, you will have a new card number, CVV number (3-digit code on back), and a new expiration date.
• If you have any automatic debits set up through your previous card, you will need to update your card number, CVV, and expiration date with the merchant or the transaction will not be processed.
• A complete debit cardholder agreement will be included with the new card.
• If you are enrolled in Bank of America’s Keep the Change® savings program, any purchases made after
10:30 p.m. EST on October 17 will no longer be rounded up and transferred to your savings account.
• You will automatically be enrolled and can enjoy the benefits of First Tennessee Cash Rewards on
October 17, 2014. Visit ftb.com/cashrewards for more information.
Consumer Statements
A final statement dated October 17, 2014, will be produced by Bank of America for all checking and savings
accounts. This final statement will reflect your transaction activity and ending balance for your Bank of America
account before it is converted to First Tennessee’s deposit system. The ending account balance on this statement
will be the beginning balance on your next statement from First Tennessee. Going forward, First Tennessee
will provide your checking account statement as close as possible to the date you regularly receive your Bank of
America checking account statements. Savings account statements are sent monthly when there are ATM or
other electronic transactions. Otherwise, you will receive your savings account statement quarterly.
Certificates of Deposit (CD) receive a maturity notice but do not receive additional statements.
Individual Retirement Accounts (IRA) receive a year-end statement and maturity notice, if applicable, but do not
receive additional statements.
If you received online monthly statements instead of paper statements, you will continue to receive online
statements after the conversion date. More information about this and other First Tennessee Banking Online
features is provided elsewhere in this booklet.
5
Overdraft Services Regarding ATM and Everyday Debit Card Purchases
First Tennessee offers customers a choice regarding the payment of overdraft transactions involving ATM or
everyday debit card transactions, if these transactions are subject to a fee. First Tennessee does not decline all
transactions that would overdraw an account. Therefore, when your Bank of America consumer checking account is
transferred to First Tennessee, it will be subject to the Opt Out terms below unless you wish to make a change that
permits us to authorize and pay items that could result in an overdraft. (Some customers may have a separate form of
overdraft protection for their Bank of America account. More information follows regarding that service.)
First Tennessee offers two options regarding payment of ATM or everyday debit card transactions.
Your choices: Opt In and Opt Out
If you DO choose to Opt In to the payment of these overdrafts:
You will allow us the opportunity to authorize and pay items presented against your account even though you
may not have the funds available at the time.1 However, we pay overdrafts at our discretion, which means we do not
guarantee that these items will always be paid. You will also receive alerts at First Tennessee ATMs if the withdrawal
transaction may cause you to overdraft your account, giving you the choice on how you prefer to proceed.
If you allow your account to remain in Opt Out status, then you DO NOT consent to the payment into
overdraft of ATM and everyday debit card transactions. Any transactions in excess of your account balance
may be declined at the ATM or at a merchant/store when using your debit card, and we will not charge a fee.
Changing your Opt In/Opt Out election:
You can change your Opt In/Opt Out election at any time after the October 20 conversion by visiting a
First Tennessee financial center, calling 800-611-6281, or going to ftb.com/overdraft, where you can also learn
more about our standard overdraft practices and various overdraft protection plans.
Opt In/Opt Out rules do not include checks or automatic bill payments you may have set up for paying bills such as your
mortgage, rent, or utilities. First Tennessee may still pay these types of overdraft transactions and charge overdraft fees.
Overdraft Protection for Consumers
If you currently have your savings account linked to your checking account to cover overdrafts, that service will
convert to First Tennessee’s savings-to-checking overdraft plan. Please note, however, that both the checking and
savings accounts must convert from Bank of America to First Tennessee, or this form of overdraft protection will not
be available. All other forms of Bank of America overdraft protection will be terminated and no longer in effect after
October 17.
First Tennessee offers several options for overdraft protection:
• First Banking Reserve — A special line of credit available upon approval that covers overdraft items by transferring
funds to your checking account.
• Credit Card link uses your First Tennessee credit card as a source of funds when you overdraw your checking account.
• Home Equity Line of Credit links easily to your checking account and gives you an added source of funds for overdrafts.
• Savings Account link connects your checking account to your First Tennessee savings account.
Visit a financial center or ftb.com/protect to learn about First Tennessee’s overdraft protection.2
A $35 fee may be assessed, limited to four per day, for paying overdrafts that result in an overdrawn balance of $5 or more. Also, a $25 fee is charged
on the 15th and 35th day that an account remains continuously overdrawn. Fees may be imposed for covering items created by check, in-person
withdrawal, ATM withdrawal, or other electronic means. When your account is overdrawn, you are obligated to bring it to a positive balance
immediately. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts
if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.
1
2
Please visit your local financial center to apply. Overdraft protection plans covered by an Overdraft Services Agreement are subject to bank and
credit approval. A $15 overdraft protection transfer fee applies, but these plans may save you money compared to standard overdraft fees. This fee is
charged each day that a transfer is made and is limited to once per day per type of plan. No fee is charged if the transfer is less than $5. The fee will
be waived for the first year, beginning October 20, 2014, for Bank of America customers converting to First Tennessee.
6
Consumer Savings
Consumer Savings Comparison Chart
If your consumer Bank of America
savings account is…
On October 20, 2014, your new
First Tennessee savings account will be…
Minor Savings
Regular Savings
Custom Savings
Traditional Savings
Money Market Savings
GWIM Money Market Savings
Select Money Market Savings
Growth Money Market Savings
Personal Money Market Savings
Platinum Money Market Savings
Rewards Money Market Savings
Money Market Savings
For former Bank of America savings accounts converted to First Tennessee accounts, monthly service charges
will be waived for twelve months, until your September 2015 monthly statement cycle.
Features that Apply to Consumer Savings Accounts
• Unlimited ATM withdrawals (when linked to a First Tennessee checking account)
• Funds transfer by ATM, phone, and Banking Online/Mobile Banking
• Monthly statements are sent when there are ATM or other electronic transactions. Otherwise, statements are sent quarterly.
• Federal law requires that we convert a savings account to a checking account if you exceed six preauthorized or automatic debits or withdrawals per month, including transactions by check or similar order payable to a third party.
Traditional Savings Features
•After the 12-month waiver, a $5 per quarter service charge (or the fee then in effect) will apply. This service
charge is waived if a $250 daily balance is maintained all quarter.
• Variable interest is paid quarterly.
Money Market Savings Features
•After the 12-month waiver, a $9 monthly service charge (or the fee then in effect) will apply. This fee is waived if
your total combined balance in First Tennessee accounts is at least $5,000.
• Variable money market rates; interest paid monthly
• Check writing privileges
7
Consumer CDs
Consumer CD Comparison Chart
If your consumer
Bank of America CD is…
On October 20, 2014, your new
First Tennessee CD will be…
18 month CD Opt Up
Rate CLIMBERSM CD
Risk Free CD
Featured CD
Long Term CD
Short Term CD
Fixed Term CD
Regular CD
Features that Apply to All CDs
All CDs will earn the current Bank of America rate for the remaining term, as determined at account opening.
Shortly before maturity, you will receive a renewal notice with updated rate information and will have a 7-day
grace period to withdraw the CD funds or make changes in terms. All current methods of interest payments
will remain the same with the exception of “x-payments.” Any CD currently set up for “x-payments” with
Bank of America will be converted to monthly interest capitalizing at maturity.
First Tennessee Rate CLIMBERSM CD
This CD allows you to increase your rate one time during the term of the CD. So, if interest rates go up,
your earnings can, too. Please visit your local financial center for rate increases.
Consumer IRAs
Consumer IRA Comparison Chart
If your consumer
Bank of America IRA is…
On October 20, 2014, your new
First Tennessee IRA will be*…
Fixed Term IRA
18 Month IRA Opt Up
Risk Free IRA
Featured IRA
Promo IRA
Regular IRA
Money Market IRA
Variable Rate IRA
Floating IRA
8
Features that Apply to Regular IRAs
Shortly before maturity, you will receive a renewal notice with updated rate information and will have a
7-day grace period to withdraw the IRA funds or make changes in terms.
• Fixed Rate (will earn the current Bank of America rate for the remaining term, as determined at
account opening)
• Fixed Term
• Early Withdrawal Penalty applies
Features that Apply to Floating IRAs
This type of IRA will not receive a renewal notice as there is no set term.
• Year-end statement
• Variable interest rates, subject to change daily
• No set term
• Contributions allowed up to max IRS limitations
• Unlimited distributions, not subject to bank early withdrawal penalty
*All IRAs are subject to IRS Rules and Regulations.
Online Services
First Tennessee’s Online Services are safe, secure online portals that let you:
• View balances and transactions
• View check and deposit images
• View statements
• Initiate account transfers
• Pay bills
• And much more
Banking Online
Bank of America Online Banking customers will not have access to history nor statements as of 6 p.m. Eastern
time on October 17. We suggest that you download your history and statements prior to this time.
If you’ve logged in to Bank of America’s Online Banking or Mobile Banking recently, or have future-dated
or recurring transfers or bill payments, your Online Banking access will be converted to First Tennessee’s
Banking Online.
Any recurring or scheduled payments and transfers you may have set up with Online Banking at Bank of America
will be transferred to First Tennessee’s Banking Online. And although we do not currently offer eBills, all of your
eBills will be set up as payees so that you can immediately begin making payments.
If you currently receive online monthly statements instead of paper statements, that will continue after conversion.
You can begin using our Banking Online service on October 20. Most customers will keep their current
Bank of America Online Banking User ID with our Banking Online service. If you have a User ID that is
already in use at First Tennessee, your User ID will need to be changed. You will be notified via email with
further instructions. For security reasons, a new password will be emailed to you via the email address you have
on file with Bank of America.
9
Logging In
When you first log in, you will be prompted to accept our Banking Online Agreement (Terms and Conditions).
Next, you will be prompted to complete the Security Enrollment. This will consist of selecting four security
questions and answers, a Trust Image, and a Trust Word. Finally, you will be prompted to update your contact
information, which will allow you to update any phone numbers and email addresses, add new phone numbers
and email addresses, and select one or more verification methods.
Mobile Banking with Mobile Deposit
Using the same credentials as your Banking Online credentials, you can access Mobile Banking via our mobile
site or our iPhone®, Android®, iPad®, Android tablet and Kindle apps. The first time you access Mobile Banking,
you will be asked to accept our Terms and Conditions and type in the mobile device’s phone number.
Mobile Deposit is subject to eligibility requirements. If you are eligible for the service, the Mobile Deposit option
will be available to you after logging in to the Mobile Banking app.
For more details and possible changes, visit ftb.com/welcome.
Other Consumer Products
Safe Deposit Box
If you currently have a safe deposit box, your service will continue without interruption at most locations.
(Important information follows below.) Your annual fee will remain the same through your current rental period,
and then First Tennessee’s safe deposit box fees will apply. For any additional questions you might have regarding
your safe deposit box lease, contact the financial center where your box is located.
Please note that the Bank of America in Johnson City will close on October 17, and the locations in Kingsport
and Greeneville will close on December 10. Safe deposit box customers at those locations should have received
information on closing out their boxes and possibly relocating them to a nearby First Tennessee financial center.
10
Important Business Account Information
In the coming days and weeks, you may have questions about the conversion of your Bank of America business
accounts to First Tennessee business accounts. This booklet is designed to help walk you through the products,
features, and services that will soon be available to you. The information in this booklet is based on your active
accounts as of August 8, 2014.
Your checking account number and routing number will change. You will receive an initial supply of welcome
checks before the conversion with your new account and routing number. We will also include a coupon good
for a future check order. You will be contacted by our check provider, Harland Clarke, to assist you with ordering
your new check and deposit supplies. Your Bank of America checks can be used until October 20, 2014. Please
begin using your First Tennessee welcome checks on October 20. If older Bank of America checks are still
outstanding (previously written but not cashed), they will be honored until January 8, 2015.
You will receive your new savings account number on the first statement following conversion.
Note: The routing number for all Bank of America business accounts will change. Please refer to the chart
below to find your new routing number. You will need your First Tennessee routing number to establish any
future automatic credits or automatic debits. IMPORTANT: Please wait until October 20 to use your new
account number and routing number. Using the new numbers prior to October 20 may result in your
transaction(s) being rejected.
If your Bank of America banking
center is located in…
On October 20, 2014, your new
First Tennessee routing number will be…
Columbia, TN
Lewisburg, TN
Lawrenceburg, TN
064101398
Rockwood, TN
Kingston, TN
064207195
Sparta, TN
064101903
For your current automatic
credits or automatic debits
(ACH) on your checking
or savings accounts, you
do not need to make any
changes. We will send a
notification of the new
account number and routing
number to each business
posting an automatic credit
or automatic withdrawal.
You can begin using
First Tennessee’s Business
Banking Online service on
Johnson City, TN
064201450
October 20. Most customers
will keep their current
Greeneville, TN
064204347
Online Banking User ID
Kingsport, TN
with First Tennessee’s
064208042
Bristol, TN
Business Banking Online
service. If you have a User
ID that is already in use at First Tennessee, your User ID will need to be changed. You will be notified via email
with further instructions. For security reasons, new temporary passwords will be emailed to all current business
online banking and business mobile banking customers via the email address you have on file with Bank of
America. There will be other differences that we want you to know about. Please see Business Online Services
beginning on page 16 for additional important information, and also visit ftb.com/welcome for the most current
details about your online experience.
Waverly, TN
064005203
All account information, including any fees or charges listed in this booklet, is accurate as of July 22, 2014.
Features and fees are subject to change with appropriate notice. Please also see the enclosed Bank Depositor
Agreement and the appropriate Fee Schedule applicable to your business account for additional details.
11
Business Checking & Savings Information
Business Checking & Savings Comparison Chart
On October 20, 2014,
your new First Tennessee
checking account will be…
Fee Schedule
Business Checking
Analyzed
Fee Schedule*
IOLTA
Waived
Analyzed
Analyzed Business
Business Interest
Interest Checking
Checking
Business Interest Checking
Analyzed
Fee Schedule*
Business Economy Checking
Business Fundamentals Checking
BizEssentials® Checking –
Basic
Non-Analyzed
Fee Schedule**
Business Interest Checking
Business Investment Account
BizEssentials® Interest
Checking
Non-Analyzed
Fee Schedule**
Business Advantage Checking
Simple Analysis Checking
BizEssentials® Checking –
Standard
Non-Analyzed
Fee Schedule**
BizEssentials® Savings
Waived
If your Bank of America
checking account is…
Full Analysis Business Checking
Public Service Trust Account
Commercial Select Business
Interest Max
Commercial Business Interest Max
Select Business Interest Maximizer
Business Interest Maximizer
Business Investment Account
If your Bank of America business accounts were billed through Account Analysis, your accounts will be
automatically converted to First Tennessee’s Account Analysis system. Please see the enclosed Analyzed Fee
Schedule for pricing, which will go into effect with your new account.
Note: Bank of America’s Small Business accounts will be converted to First Tennessee’s BizEssentials®
Checking accounts. Please see the enclosed Non-Analyzed Fee Schedule for features and pricing. Visit or call
a Bank of America banking center if you have any questions prior to the October 17 conversion date.
*See Analyzed Fee Schedule for service charge details.
**Non-analyzed business customers will have their service charges waived for 12 months, until September 2015.
12
Business Checking & Savings Product Features
Features that apply to all business checking and savings accounts:
• Business Banking Online with Bill Pay
• Business Mobile Banking
• Dedicated support through the Business Service Center
•First Tennessee Visa® Business debit card with First Tennessee Cash Rewards. Visit ftb.com/cashrewards
for more information.
Business Checking (Analyzed Fee Schedule)
Designed for companies with medium- to high-volume activity, First Tennessee rewards your business by giving
credit for the balances your business maintains to offset your monthly activity charges. A detailed monthly
Account Analysis Statement provides an activity summary of checking and Treasury Management Services
for the previous month so you can easily manage your usage of banking services. Checking and Treasury
Management fees are assessed through Account Analysis, with the account summary and fees rolling up to
a Master/Key account. Features include:
• Cost efficiency – Get rewarded for your banking services and high checking balances.
•
Treasury Management enhancement – Detailed monthly statements provide a comprehensive view of
your monthly cash position.
This checking account cycles at the end of the month, with online checking and analysis statements available by the
third business day of the next month. Fees are deducted on (or around) the 19th of the following month. For example,
your Analysis statement for the month of July would be available on the third business day of August, and Analysis
fees would be deducted from the checking account on (or around) August 19. The Earnings Credit Rate (ECR)
will be set to the First Tennessee standard ECR as of the time of conversion. The ECR may change from month to
month without prior notice. First Tennessee’s standard ECR as of August 1, 2014 is 0.20%. See the Analyzed Fee
Schedule for additional details.
IOLTA Checking (Waived)
An IOLTA (Interest on Lawyers’ Trust Account) is a checking account specifically for lawyers that earns interest
on the funds in the account. First Tennessee will report and pay the interest to each state’s IOLTA board on
your behalf. Please note:
•Communication will be sent to each state’s IOLTA board notifying them that the interest accrual and
payment will be processed by First Tennessee beginning on October 20, 2014. The first interest payment
from First Tennessee will occur in November 2014.
Business Interest Checking (Analyzed Fee Schedule)
A Business Interest Checking account is an interest-bearing account that combines the benefits of an Analyzed
Checking account with the interest-earning feature of a savings account. Benefits include:
• Competitive interest earned on collected balances
• Monthly Account Analysis Statement
This checking account cycles at the end of the month, with online statement available by the third business day of
the next month. Please note that the online statements are standard; paper statements are available but will incur
a fee. Account fees are assessed on or around the 19th day of the month — please see the enclosed Analyzed Fee
Schedule for details. Interest is accrued daily and paid on the last day of the month, but if the account balance
is negative at any point in the month, the interest is forfeited. The interest rate will be set to the First Tennessee
standard interest rate as of the time of conversion. The interest rate may change from month to month without
prior notice. First Tennessee’s standard interest rate as of August 2014 is 0.05%.
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BizEssentials® Checking & Savings Accounts
BizEssentials® Basic Checking (Non-Analyzed Fee Schedule)
A BizEssentials® Basic Checking account is a low-volume transaction account. It offers you convenient checking
services at competitive rates. Benefits include:
• Business Banking Online with Bill Pay
• Business Mobile Banking
• Sweep to Savings Feature available to help earn interest on idle funds
• Auto Advance Feature1 through linking to a BizEssentials® Line of Credit
• Dedicated support through the Business Service Center
BizEssentials® Interest Checking (Non-Analyzed Fee Schedule)
A BizEssentials® Interest Checking account is an interest-bearing account that combines the benefits of a
BizEssentials® Checking account with the interest-earning feature of a savings account. Benefits include:
• Competitive interest earned on collected balances
• No minimum balance requirement
• Business Banking Online with Bill Pay
• First CheckSM Visa® Business Debit card with First Tennessee Cash Rewards
• Business Mobile Banking
• Dedicated support through the Business Service Center
This checking account cycles at the end of the month, with online statement available by the third business day
of the next month. Please note that the online statements are standard; paper statements are available but will
incur a fee. Account fees are assessed on the last day of the month — please see the enclosed Non-Analyzed Fee
Schedule for details. Interest is accrued daily and paid on the last day of the month, but if the account balance
is negative at any point in the month, the interest is forfeited. The interest rate will be set to the First Tennessee
standard interest rate as of the time of conversion. The interest rate may change from month to month without
prior notice. First Tennessee’s standard interest rate as of August 2014 is 0.05%.
BizEssentials® Checking Standard (Non-Analyzed Fee Schedule)
BizEssentials® Checking is an account designed for companies with low transaction volume. It offers you
convenient checking services at competitive rates. Benefits include:
• Business Banking Online with Bill Pay
• Business Mobile Banking
• Sweep to Savings Feature available to help earn interest on idle funds
• First CheckSM Visa® Business Debit card with First Tennessee Cash Rewards
• Auto Advance Feature1 through linking to a BizEssentials® Line of Credit
• Dedicated support through the Business Service Center
1
$15 transfer fee per advance from a Business Line of Credit to a BizEssentials Checking account applies.
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BizEssentials® Checking Comparison Chart
Transactions Per Month
Monthly Service
Charge
Earns Interest
BizEssentials®
Basic Checking
BizEssentials®
Checking Standard
BizEssentials®
Interest Checking
150 1
5001
5001
$17.00
$7.50
(Can be waived with a
minimum daily collected
balance of $5,000)
(Waived with $10,000
minimum daily collected
balance or combined
balances of $25,0002)
No
No
$17.00
Yes
$0.50 charge per transaction over transaction limit. Transactions include: paper checks, checks deposited, and deposit slips. Electronic transactions,
other than mobile deposits, are not included in paper transaction totals. Each $250 increment of cash deposit counts as one paper transaction.
2
Accounts eligible for combined balances must be reported under the same tax identification number or Social Security number associated with the
BizEssentials Checking account and include business loans, lines of credit, business savings, certificate of deposit and personal checking and savings accounts.
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BizEssentials® Savings
All Bank of America business savings accounts will be converted to First Tennessee BizEssentials® Savings
accounts – with competitive rates and no fees. You will receive your new savings account number on the first
statement following conversion.
With BizEssentials® Savings, you can link to your BizEssentials® Checking account to take advantage of an
automatic sweep feature that allows you to earn interest on excess funds. You set the peg – a pre-determined
dollar amount (minimum $5,000) in your checking account – and any excess funds are transferred to your
business savings account when the peg is reached. If needed, funds will sweep back into your business checking
account. The interest rate will be set to the First Tennessee standard interest rate as of the time of conversion.
The interest rate may change from month to month without prior notice. First Tennessee’s standard interest rate
as of August 2014 is 0.05%.
Federal law requires that we convert a savings account to a checking account if you exceed six preauthorized
or automatic transfers or transactions by check (or similar order payable to a third party) per month.
Overdraft Transactions
For your business checking account, your current setting at Bank of America will carry over to First Tennessee.
If your account currently has an “Accept All” setting, First Tennessee will extend our standard overdraft
practices to your account. You will allow us the opportunity to authorize and pay items presented against your
account even though you may not have the funds available at the time.3 However, we pay overdrafts at our
discretion, which means we do not guarantee that these items will always be paid. You will also receive alerts at
First Tennessee ATMs if the withdrawal transaction may cause you to overdraft your account, giving you the
choice on how you prefer to proceed.
If your account currently has a “Decline All” setting, any transactions that exceed the available balance in your
account will be declined. However, an Insufficient Funds Fee may be charged.
3
A $25 fee is charged on the 15th and 35th day that an account remains continuously overdrawn. Fees may be imposed for covering items created
by check, in-person withdrawal, ATM withdrawal, or other electronic means. When your account is overdrawn, you are obligated to bring it to a
positive balance immediately. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically
do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.
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Business Online Services
Business Banking Online
First Tennessee’s Business Online Services are safe, secure online portals that let you:
• View balances and transactions
• View check and deposit images
• View statements
• Initiate account transfers
• Pay bills
• Initiate ACH transactions (includes Payroll, Tax, and Child Support)
• Initiate wire transactions
• Manage user entitlements
• Access Business Mobile Banking
If you’ve logged in to Bank of America’s Online Banking recently, or have future-dated or recurring transactions,
your Online Banking access will be converted to First Tennessee’s Business Banking Online service.
Most customers will keep their current Bank of America Online Banking User ID with First Tennessee’s
Business Banking Online service. If you have a User ID that is already in use, your User ID will need to be
changed. You will be notified via email with further instructions. For security reasons, new temporary passwords
will be emailed to all current Bank of America business online banking and business mobile banking customers
via the email address you have on file with Bank of America.
If you use Wire Transfer or ACH services, you will be contacted by a First Tennessee Relationship Manager to
ensure continued service. Prior to conversion, you may want to download any statements for historical purposes,
as well as any ACH/Wire Transfer templates that you may need to refer to after conversion.
Logging In
You can begin using First Tennessee’s Business Banking Online service on October 20. When you first log in,
you will be prompted to accept First Tennessee’s Business Banking Online Agreement (Terms and Conditions).
Next, you will be prompted to complete the Security Enrollment. This will consist of selecting four security
questions and answers, a Trust Image, and a Trust Word. Finally, you will be prompted to update your contact
information, which will allow you to update any phone numbers and email addresses, add new phone numbers
and email addresses, and select one or more verification methods. For ACH and Wire Transfer clients, a security
token will be mailed to each administrator to distribute to each individual user.
Business Mobile Banking
Using the same credentials as your Business Banking Online credentials, you can access Business Mobile Banking
securely and conveniently through your mobile web browser.
This time-saving service allows you or any employees you designate to conduct key business banking functions on
the same account securely and conveniently from the web browser of a mobile phone.
For more details and possible changes, visit ftb.com/welcome.
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Business Lending
You should have received a separate communication about this conversion. Please refer to the related correspondence.
Visit or call a Bank of America banking center if you have any questions prior to the October 17 conversion date.
Other Business Services
Treasury Management
First Tennessee Treasury Management products are designed to help businesses control their cash flow needs.
Services include:
• Accounts Receivable and Cash Concentration
• Accounts Payable and Fraud Prevention
• Control and Information Services
If you previously used any Treasury Management products, such as Automated Clearing House, Direct Deposit
for your employees, Wire Transfer services, or Remote Deposit Capture, you will be contacted by a First Tennessee
Relationship Manager to ensure you continue to receive your preferred services going forward. If you have
questions, please call the Business Service Center at 888-382-4968.
Automated Clearing House (ACH)
The Automated Clearing House (ACH) network is a nationwide funds transfer system for handling electronic
credit and debit transactions exchanged between customers at the same or different financial institutions. ACH
transactions are similar to that of a check, but instead of paper, financial institutions send each other electronic
files via ACH. ACH is commonly used for Direct Deposit (payroll), tax payments, vendor payments, child
support payments, cash concentration, etc. Here’s some important information regarding your ACH services:
•If we have not done so already, a First Tennessee Relationship Manager will meet with you to sign a
First Tennessee ACH Services Contractual Agreement or a BizEssentials® Cash Management Services
Agreement. The new agreement will be effective on October 20, 2014, and needs to be executed and in place
by October 1, 2014.
•After we receive the executed agreement, we will provide you “walkthrough” training on First Tennessee’s
Business Banking Online product and the ACH Module.
–First Tennessee’s web-based Business Banking Online ACH Module has the ability to 1) upload a NACHA
formatted file, 2) build templates and participants online, and 3) import non-NACHA data into existing
templates.
–Our Business Service Center will mail a security token to each administrator for distribution to the
individual users who will have access to the Business Banking Online ACH Module.
–We also want to update you on First Tennessee’s security controls and system capabilities; First Tennessee
utilizes several layers of security to prevent fraud.
–Training will be scheduled prior to conversion to help you understand the nuances of the system.
• Pricing will apply according to the terms of your new agreement.
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Remote Deposit Capture (RDC)
Remote Deposit Capture (RDC) enables the customer to make their deposit without leaving their office.
Instead of gathering checks each day and physically delivering them to the bank, the customer actually scans the
deposit in the convenience of their office. Software will prompt the operator through the entire deposit process,
beginning with selecting the scan location, the deposit account and entering the total amount of the deposit
to balancing confirmation. The check scanner will capture an image (front and back) and MICR data from
the original checks. Once balanced, the deposit is transmitted as a digital image file to the bank, using secure
encryption software to do so. Here’s some important information regarding your RDC services:
•The RDC service agreement you currently have in place for Remote Deposit Services originated at Bank
of America will expire effective October 17, 2014. A First Tennessee Bank Relationship Manager will be
contacting you soon to discuss the option to use our RDC services. This would require you to sign a new
agreement with First Tennessee Bank for Remote Deposit Capture services. We will also want to verify that
your operating system is compatible with our application.
• After we receive the executed agreement, we will provide you with the necessary instructions for installation and training.
•First Tennessee Bank will not be converting any RDC deposit history from your prior bank. Your bank account
statements will serve as your reference to historical information about deposits you have made using the service.
Wire Transfer
First Tennessee offers the ability to create both Domestic and International wires through the Business Banking
Online Wire Module. The Wire Module has the ability to create tax payments, drawdown wire requests, provide
information on incoming and outgoing wires, provide user access or audit reports in a real-time manner, and
enable you to establish varying approval or release controls. Here’s some important information regarding your
Wire Transfer services:
•If we have not done so already, a First Tennessee Relationship Manager will meet with you to sign a
First Tennessee Wire Transfer Authorization and Agreement. The new agreement will be effective on
October 20, 2014, and needs to be executed and in place by October 1, 2014.
•After we receive the executed agreement, we will provide you “walkthrough” training on First Tennessee’s
Business Banking Online product and the Wire Module.
–First Tennessee’s web-based Wire Module has the ability to 1) initiate Domestic, International, and
Foreign Exchange transactions and 2) view reports of incoming and outbound transactions in a real-time
environment.
–Our Business Service Center will mail a security token to each administrator for distribution to the
individual users who will have access to the Business Banking Online Wire Module.
–In addition, prior to October 20, you will receive a PIN to be used when initiating wire transfer requests.
–We also want to update you on First Tennessee’s security controls and system capabilities; First Tennessee
utilizes several layers of security to prevent fraud.
– Training will be scheduled prior to October 20 to help you understand the nuances of the system.
• Pricing will apply according to the terms of your new agreement.
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Automated Line of Credit (Analyzed Fee Schedule)
A First Tennessee Automated Line of Credit is a way to automatically move funds between your checking
account and line of credit by linking them together. This link allows the line of credit to automatically deposit
funds from an advance on the line of credit into the associated checking account. It will optionally allow for
automatic payments to the line of credit as idle funds become available in the checking account. Benefits include:
• Payments – Payments to the line of credit are based on Collected Balance in the checking account.
• Advances – Advances from the line of credit are based on the Ledger Balance in the checking account.
•
Peg Balance – A peg balance (a predetermined dollar amount) can be established in the checking account so
amounts over the peg balance will pay down the line of credit.
• Daily Process – The process runs each business day.
If the checking account linked to your line of credit is an Analyzed Business Checking account, your
checking account can make payments and receive advances from your line of credit. Also, the Analyzed Fee
Schedule applies.
If the checking account linked to your line of credit is a Non-Analyzed BizEssentials® Checking or Business
Interest Checking account, your checking account can only receive advances from the line of credit. Payments
to the line of credit must be made manually. Also, a $15 per advance fee will apply.
• If we have not done so already, a First Tennessee Relationship Manager will meet with you to sign a
First Tennessee Automated Transfer Facility agreement. The new agreement will be effective on
October 20, 2014, and needs to be executed and in place prior to October 1, 2014.
• For Analyzed Business Checking accounts, an Automated Line of Credit can be combined with a
Business Investment Account to maximize your cash flow and income potential.
Business ATM Cards
• Business ATM cards will not be reissued. Come visit us at any of our financial centers if you would like a business debit card for your checking account.
Business Debit Cards
•A new Visa®-branded debit card will be issued prior to October 17. These cards will automatically
be activated for use beginning at midnight on the morning of October 17. You can begin using your
First Tennessee debit card at that time and destroy your Bank of America card. If you do not receive your
new debit card, a new one can be issued at any First Tennessee financial center on or after October 20.
•You will receive a new PIN for your First Tennessee business debit card, mailed separately from your card.
If you would like to change your PIN, you can do so at any First Tennessee ATM or by calling 800-382-5465
on or after October 17. You may also visit a First Tennessee financial center to change your PIN on or after
October 20.
•When using your PIN, your First Tennessee business debit card will have a daily cash withdrawal limit of $600
per card each business day. Purchases made using your PIN from Visa merchants who accept our card will be
limited to $2,500 per card each business day.
•When you receive your new card, you will have a new card number, CVV number (3-digit code on back), and a
new expiration date.
•If you have any automatic debits set up through your previous card, you will need to update your card number,
CVV, and expiration date with the merchant or the transaction will not be processed.
• A complete debit cardholder agreement will be included with the new card.
•You will automatically be enrolled and can enjoy the benefits of First Tennessee Cash Rewards.
Visit ftb.com/cashrewards for more information.
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Business Statements
A special interim statement dated October 17, 2014, will be produced by Bank of America for all checking
and savings accounts. This interim statement will reflect your transaction activity and ending balance for
your Bank of America account before it is converted to First Tennessee’s deposit system. Going forward,
First Tennessee will provide your account statement on its regularly scheduled date. The ending account
balance on this statement will be the beginning balance on your next statement from First Tennessee.
If you received online monthly statements instead of paper statements, you will continue to receive online
statements after October 20. More information about this and other First Tennessee Business Banking Online
features is provided separately.
Account conversion date: October 20, 2014
Debit & ATM card conversion date: October 17, 2014
For updates to this booklet, please visit www.ftb.com/welcome.
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Financial Center Locations
Hours for our new locations are as of October 20, 2014. Hours listed are for lobbies. Drive-through hours may vary at
some locations.
Bristol
2406 West State St.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
Nearby:
• 800 State St.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
Johnson City
2105 North Roan St. —
Closes October 17, 2014
Next closest center:
2112 North Roan St.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
Also nearby:
• 4301 Fort Henry Dr.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
• 235 East Center St.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
1155 Volunteer Pkwy.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
Also nearby:
• 1500 West State of Franklin Rd.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
•
• 3269 Highway 126 (Blountville)
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
• 3230 Peoples St.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
Kingston
•
Columbia
200 West Seventh St.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5 p.m.
1404 S. James Campbell Blvd.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5 p.m.,
Sat 9 a.m. – 12 p.m.
(We will continue to operate the
ATM at 909 Nashville Hwy.)
Greeneville
1545 East Andrew Johnson Hwy.
Closes December 10, 2014
October 20 – December 10 will be
drive–through only
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5 p.m.
Next closest center:
2841 East Andrew Johnson Hwy.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m., Sat 9 a.m. –1 p.m.
Also nearby:
• 206 North Main
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
• We will continue to operate the ATM at 212 Asheville Hwy.
• 401 West Jackson Blvd. ( Jonesborough)
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
•
222 Old Gray Station Rd. (Gray)
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
• 210 Gay St. (Erwin),
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
• We will continue to operate the ATM at 509 North State of
Franklin Rd.
Kingsport
1201 North Eastman Rd.
Closes December 10, 2014.
October 20 – December 10
will be drive–through only.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 6 p.m.
Next closest center:
2400 Memorial Blvd.
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.,
Sat 9 a.m. – 1 p.m.
412 West Center St.
(drive–through only)
Hours: M–Th 8:30 a.m. – 5 p.m.,
Fri 8:30 a.m. – 6 p.m.
616 North Kentucky St.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5:30 p.m.
Lawrenceburg
1225 North Locust Ave.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5 p.m., Sat 9 a.m. – 12 p.m.
225 North Military Ave.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5 p.m.
Lewisburg
125 North First Ave.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5 p.m., Sat 9 a.m. – 12 p.m.
Rockwood
511 North Gateway Ave.
Hours: M–Th 9 a.m. – 4 p.m.,
Fri 9 a.m. – 5:30 p.m.
Sparta
469 West Bockman Way
Hours: M–Th 8:30 a.m. – 4 p.m.,
Fri 8:30 a.m. – 5 p.m.
Waverly
208–210 West Main St.
Hours: M–Th 8:30 a.m. – 4 p.m.,
Fri 8:30 a.m. – 5 p.m.
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©2014 First Tennessee Bank National Association. Member FDIC. www.firsttennessee.com
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