Enjoy better banking. Use the red key.

We’re looking forward to serving you.
As you know, First Niagara and KeyBank will soon come together as one organization, subject to regulatory approval. It’s
great to have you with us, as we get ready to take the final steps in bringing together our two banks.
Your First Niagara accounts and services will soon transfer to similar accounts and services at KeyBank. Then on October 11,
2016 following the Columbus Day holiday, First Niagara branches will open as KeyBank branches and we’ll begin to serve
you as KeyBank.
During this transition and beyond, you can continue to use your First Niagara deposit account
checks, Debit Card, Credit Card, and more.
You can count on a smooth transition
The following documents included with this letter contain the disclosures that will govern your
accounts and services.
•
•
Enjoy better
banking.
Use the red key.
We’re here to help
you thrive on your
financial journey.
The FIRST NIAGARA RETAIL ACCOUNT DISCLOSURE BOOKLET will govern your accounts and
services through October 7, 2016.
The KeyBank Consumer Disclosure Booklet will govern your accounts starting on October 8,
2016.
Helping you feel right at home
We’re here for you if you have any questions or need assistance. Just give us a call at 1-800-421-0004, weekdays
6:00 a.m. – 9:00 p.m., weekends 8:00 a.m. – 6:00 p.m. ET (TTY: 1-716-625-7583 for our hearing impaired clients).
Or stop by your local branch – we’ll be happy to answer any questions.
Sincerely,
Dennis Devine
Co-President of Key Community Bank
Consumer and Business Banking
P.S. We’ve created a special “Meet Key” website at meetkeybank.com. Feel free to visit at any time if you have additional
questions about the transition or about banking with us.
© 2016 KeyCorp. KeyBank is Member FDIC. CFMA # 160725-108833
Personal Accounts
The table below provides information about the First Niagara account you are currently opening, and the new KeyBank
account it will convert to. Please also see the enclosed Consumer Disclosure booklet for more information about your
KeyBank account.
If this is your First Niagara personal
account
This will be your new account at KeyBank
Merit Checking
StudentFirst Checking
Choice Checking
First Niagara Simple Checking
Free Checking 18/65
Employee Pinnacle Plus Checking
Pinnacle Checking
Pinnacle Plus Checking
Exempt Savings 18/65, custodian
with minor under age 18 at time of
conversion
Youth Savings
Companion Savings
Healthcare Account
Exempt Savings 18/65, if not a
custodian with minor under age 18
at time of conversion
Pinnacle Money Market Savings
Account
PinnaclePlus Money Market Savings
Health Savings Account
Certificate of Deposit
KeyBank Hassle-Free Account ®
1
Key Student Checking Account®
1
Key Express Checking Account®
1
2
Key Advantage Checking Account®
1
Key Privilege Checking Account®
Key4Kids Savings Account
Key Saver Account
See the KeyBank Consumer
Disclosure booklet for more
information
Page 4
Page 5
Page 5
1
Page 5
Page 7
Page 13
2
Page 12
Key Silver Money Market Savings Account
Key Health Savings Account
Certificate of Deposit
1
1
Page 13
Page 9
Page 15
The monthly Maintenance Service Charge and transaction fees for this account will be waived through September 30, 2017.
The monthly Maintenance Service Charge for this account will be waived through September 30, 2017.
FIRST NIAGARA
RETAIL ACCOUNT
DISCLOSURE BOOKLET
Table of Contents
•
Customer Identification Notice ......................................................................... Page 2
•
Privacy Notice ............................................................................................ Pages 3-4
•
Deposit Account Rules & Regulations (dated 2/6/2015).…….……………………… Pages 5-20
•
Electronic Funds Transfer Disclosure..........................................................Pages 21-25
•
Funds Availability Disclosure ..................................................................... Page 26-27
•
Substitute Check Policy ................................................................................. Page 28
•
Schedule of Personal Account Fees and Transaction Limitations…………………….…Page 29
IMPORTANT INFORMATION ABOUT
PROCEDURES FOR OPENING A NEW ACCOUNT
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WRREWDLQYHULI\DQGUHFRUGLQIRUPDWLRQWKDWLGHQWLÀHVHDFKSHUVRQZKRRSHQVDQDFFRXQW7KLVUHTXLUHPHQWDSSOLHVWRDQ\W\SHRI
DFFRXQWRSHQHGDW)LUVW1LDJDUDLQFOXGLQJDGHSRVLWRUFKHFNLQJDFFRXQWORDQRUOLQHRIFUHGLWLQYHVWPHQWSURGXFWLQVXUDQFHSURGXFW
VDIHGHSRVLWER[UHQWDOFDVKPDQDJHPHQWVHUYLFHRUWUXVWVHUYLFH
What This Means For You
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Rev. 12/2012
FACTS
WHAT DOES First Niagara Financial Group, Inc. (“First Niagara”)
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:
• Social Security Number and account balance
• transaction history and credit card or other debt
• investment experience 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 First Niagara chooses to share; and whether you can limit this sharing.
Does First Niagara
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
Yes
Yes
For our affiliates to market to you
Yes
Yes
For nonaffiliates to market to you
No
We don’t share
Reasons we can share your personal information
To limit our
sharing
Call 1-855-535-7880 – our menu will prompt you through your choice(s).
Please note:
If you are a new customer, we can begin sharing your information 30 days from the date we sent this
notice. When you are no longer our customer, we continue to share your information as described in
this notice.
However, you can contact us at any time to limit our sharing.
Questions?
Call 1-855-535-7880
3
Who we are
Who is providing this notice?
First Niagara Financial Group, Inc. and its corporate family, which includes: First Niagara
Bank, N.A., First Niagara Risk Management, Inc., and First Niagara Securities, Inc. d/b/a
First Niagara Investment Services.
What we do
How does First Niagara
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
and secured files and buildings.
We partner with third parties and use protocols, tools, and auditing to confirm your
identity, help keep transactions secure, and enhance your online experience.
How does First Niagara
collect my personal
information?
We collect your personal information, for example, when you:
• open an account or apply for a loan
• apply for insurance or seek advice about your investments
• give us your contact 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:
• sharing for affiliates’ everyday business purposes – information about your
creditworthiness
• affiliates from using your information to market to you
• sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit sharing.
What happens when I limit
sharing for an account I hold
jointly with someone else?
Your choices will apply to everyone on your account – unless you tell us otherwise.
Definitions
Affiliates
Companies related by common ownership or control. They can be financial and
nonfinancial companies.
• Our affiliates include First Niagara Bank, N.A., First Niagara Risk Management, Inc.,
and First Niagara Securities, Inc. d/b/a First Niagara Investment Services.
Nonaffiliates
Companies not related by common ownership or control. They can be financial and
nonfinancial companies.
• F irst Niagara does not share with nonaffiliates 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 other financial institutions, credit card
companies and insurance companies.
4
DEPOSIT ACCOUNT RULES
AND REGULATIONS
EFFECTIVE FEBRUARY 6, 2015
5
to any of our banking offices in another state, in which
case the laws of that state will govern. For deposit
accounts opened by telephone or internet, applicable New
York law will govern to the extent not superseded by
federal law. If these Rules conflict at any time with the
applicable federal or state law or regulation, the Rules will
be considered changed to the extent necessary to comply.
1. Meaning of some words. In these Rules and Regulations
(“Rules”):
a. “We,” “us,” “our”, and “ours”, and the “bank”
mean First Niagara Bank, N.A.;
b. “You,” “your” and “yours” mean any person,
corporation, partnership, trust, proprietorship,
organization, or other entity in the name of whom a
deposit account is open with us at any time, whether
alone or in the name of another person or persons;
c. “Your account” means that deposit account;
The bank’s failure to enforce these Rules or waiver of
any of the provisions of these Rules in any instance will
not prevent the bank from enforcing these Rules at any
other time.
d. “Signature card” means any paper, electronic or
other document signed by you or on your behalf (whether
4. Special types of accounts. Some types of deposit
accounts with us are subject to special rules not set forth in
these Rules in addition to those set forth in these Rules.
manually, electronically or in any other way) to evidence
ownership of your account;
e. “Authorized signer” means you (if you are an
individual) and any individual who is indicated in our
records concerning your account as authorized to take
action with respect to your account;
5. Our relationship to you. Our relationship to you with
respect to your account is that of a debtor to a creditor
and not that of a person acting as a fiduciary for the
benefit of another person.
f. “Item” means any written or electronic order,
instruction, request or other promise or order for the
payment or other transfer of money; and
g. “Liability or expense” means, any liability, loss, cost
or expense including any attorney fees (whether the
6. Signature card. Our records as to the current signature
card for your account will be binding on you. Determining
whether any designation on a signature card of ownership
of your account or a beneficiary of your account is
appropriate or effective is your, not our, responsibility. We
may conclusively rely on the information contained in the
current signature card for all purposes relating to your
account except to the extent that the information is
incompatible with a special non-waivable rule under
applicable law as to ownership of your account or passage
of ownership of your account upon the death of an owner
of your account, in which case the special rule will control
to the extent of the incompatibility. We will not be bound
by any change in information until we receive a new
signature card for your account that reflects the change
and is signed by everyone we believe must sign the
signature card to make the change. If you are not an
individual or are an individual who does business under a
trade name, we may conclusively rely on any designation
on a signature card for your account of your form of legal
organization or conduct of your activities.
attorney is hired for advice, litigation or any other purpose)
and any cost of investigation or litigation.
2. Our agreement with you. These Rules are part of your
agreement with us, and contain some of the terms and
conditions for deposit accounts. These Rules together with
the signature card, schedule of fees, and disclosures
applicable to your account and any other agreement or
disclosure for a particular service that we provide in
connection with your account (collectively the
“Agreement”) are the final and complete agreement
between you and us concerning your account. These Rules
contain an Arbitration Provision at section 81, which you
have a right to reject as set forth in that section. By
opening any deposit account with us, by signing a
signature card, or by using a bank product or service, you
agree that these Rules, as amended from time to time,
shall apply to all your deposit accounts with us. Except as
provided in the Arbitration Provision, if there is a conflict
between any of these Rules and any other part of your
agreement with us, the part of that agreement will control
to the extent of the incompatibility, but the rest of these
Rules will not be affected. If there is a conflict between
these Rules and something one of our employees says,
these Rules will govern. These Rules supersede and
replace all prior Rules concerning your account.
7. Authority of authorized signers. Any authorized signer,
acting alone, may take any action with respect to your
account, including:
a. Make or order any deposit into or withdrawal from your
account;
b. Endorse any item for deposit into your account;
c. Order us not to pay any item payable from your
account;
d. Give or cancel any instruction to us concerning your
account;
e. Designate any additional authorized signer for your
account;
f. Terminate the authority of any authorized signer to
take action with respect to your account;
g. Enter into on your behalf any agreement with us
concerning your account;
h. Change the address to which statements for your
account are to be sent;
i. Obtain and release information concerning your
3. Governing laws and regulations. The Arbitration
Provision is governed by the Federal Arbitration Act
(“FAA”). Otherwise any legal questions concerning
these Rules or your account will be decided, governed
by and interpreted
according to federal law, and by state law, clearing house
rules, ACH rules and general commercial bank practices
applicable to the services provided, to the extent not
superseded by federal law. The applicable state law (to the
extent not superseded by federal law) shall be the law of
the state where the deposit account is opened, if opened in
person, unless we have transferred your account
6
account;
j. Transfer your account and pledge your account as
collateral for any indebtedness; and
k. Close your account.
If there are multiple authorized signers on your account,
we may require that all authorized signers authorize a
particular action. We may honor any instruction from any
authorized signer even if it conflicts with an instruction
from any other authorized signer.
In taking any action with respect to your account, each
authorized signer is the agent of each other authorized
signer.
We are not able through the exercise of ordinary care to
implement an instruction which would require two or more
signers before an action could be taken on your account.
Accordingly, notwithstanding any provisions to the
contrary on any signature card or other documentation, if
any account purports to require two or more signers on
items drawn on your account, such provision is solely for
your internal control purposes and is not binding on us. If
more than one person is authorized to write checks or
draw items on your account, we can honor checks signed
by any authorized signer, even if there are two or more
lines on the items for your signature and two signatures
are required.
If you impose any other limitation on the authority of an
authorized signer to sign an item payable from your
account in the current signature card, we will not be liable
for paying any item that does not comply with the
limitation if we exercise ordinary care to comply with the
limitation. We will have exercised that ordinary care if we
act in good faith, we have reasonable procedures for
complying with special limitations on the payment of
items and we reasonably follow the procedures as a
matter of routine.
If you impose any limitation on the authority of any
authorized signer with respect to your account that is not
specifically provided in the current signature card, the
limitation will be strictly between you and that authorized
signer. The limitation will not be binding on us even if we
are notified of or otherwise know or should know of it,
and we will not be liable for failing to act in accordance
with it.
We may conclusively rely on the authority of any
authorized signer to take action with respect to your
account until we receive and have a reasonable time to act
on and accept a notice changing or terminating the
authority of that authorized signer to take action with
respect to your account from a person we consider
appropriate to give the notice.
attorney. The bank may require the attorney-in-fact to
indemnify and hold the bank harmless and provide other
documentation pertaining to the authority to act before
the bank honors the power of attorney. We may
conclusively rely on the power of attorney and any action
we take in reliance upon it will be binding on you until we
receive documentation and notice and have a reasonable
time to act on any documentation which effectively
terminates or revokes the power of attorney. Except to
the extent prohibited by applicable law, we may refuse to
honor the power of attorney and any instruction provided
pursuant to a power of attorney we have accepted, and
will not be liable for the failure to honor the power of
attorney or the instructions.
9. Allowing access to account and information. If you allow
any person to have any means of obtaining access to your
account or information concerning your account, we may
treat as authorized by you and allow any withdrawal from
your account made by that person and may allow any
obtaining by that person of information concerning your
account, regardless of whether we previously allowed or
refused to allow any withdrawal from your account made
by that person or any obtaining by that person of
information concerning your account. If you give any
person our routing number and the account number of your
account other than by giving that person a check written on
your account, we may treat as authorized by you and allow
any withdrawal from your account made by that person. If
you give any person a code or password used to obtain
access to your account by a telephone or computer, we
may allow that person to use the code or password to
obtain information concerning your account and to make
any withdrawal from your account.
10. No liability. Except to the extent required by applicable
law, we will not be liable for any loss you suffer as a result
of your allowing anyone else to take action with respect to
your account.
11. Prohibition of certain transactions. Your account may
not be used for any prohibited or unenforceable
transaction.
If it is, you give up any claim that the transaction should
not have been charged against your account, and you
must indemnify us against any liability or expense we incur
as a result of any claim relating to the transaction. We may
close your account if we suspect that it is being used for
any prohibited or unenforceable transaction.
12. Instructions. If we believe that an instruction is
provided by an authorized signer, we may follow that
instruction and will not have any obligation to verify that
the instruction was actually given by an authorized signer.
If we believe that an instruction may be illegal or harmful to
us, we may refuse to follow the instruction or, as a
condition of following the instruction, require a document
indemnifying us against any liability or expense we incur as
a result of following the instruction. You must indemnify us
against any liability or expense we incur as a result of any
claim for following the instruction. We may charge the
amount of the liability or expense against your account or
8. Power of attorney. If the bank receives a power of
attorney in a form the bank determines is acceptable and
complies with applicable state law, your attorney-in-fact
can do whatever you could do with your account as
reflected in the power of attorney and as permitted by
applicable law. The bank may honor an acceptable power
of attorney where you are one of the persons named on a
joint account. In that case, your attorney-in-fact can do
whatever you could do with your joint account. The bank is
not required to seek the consent of the other persons
named on the joint account before honoring the power of
7
collect it in any other way.
18. When deposits are received. A deposit into your
account made in person to a teller at one of our banking
offices will be considered to be received by us:
a. On the day it is made if it is made on one of our
business days before our cut-off time for that banking
office;
b. On our first business day after the day it is made if it is
made on one of our business days after our cut-off time
for that banking office; or
c. On our first business day after the day it is made if it is
made on a day that is not one of our business days. A
deposit into your account made at an automated teller
machine, night depository or other mechanical or electronic
device at which we receive deposits, or in any other way
will be considered to be received by us when we verify its
existence and amount.
13. Automatic processing of items. In accordance with
applicable law and general banking standards, we have
adopted automated processing that relies on encoded
information rather than physical examination of items for
the purpose of the collection and payment of items. We
may use that automated processing for the purpose of
crediting to your account any item deposited into your
account for collection or charging your account for any
item payable from your account and presented to us for
payment regardless of information on the item inconsistent
with information relating to the item encoded on the item
in accordance with general banking standards. We may
conclusively rely on the amount of the item as encoded on
the item even if that amount differs from the amount of
the item or exceeds the maximum amount for which the
item is valid as stated in a legend on the item. We will not
be considered to have failed to exercise ordinary care or to
act in good faith in collecting or paying the item solely
because our procedures for the purpose of the collection
and payment of items do not provide for physical
examination of items or provide for a limited physical
examination of items. We will not be considered to have
failed to exercise ordinary care or to act in good faith in
paying an item payable from your account solely because
we did not compare any signature on the item to any
signature on a signature card for your account.
19. Verification of deposits. We may verify that the figure
on your deposit ticket agrees with the amount of your
deposit. Our verification and record of the deposit will be
conclusive and binding on you and we may adjust your
account for the amount of the difference without notifying
you.
20. Crediting of deposited items. When an item is
deposited into your account, we will credit the amount of
the item to your account, but the credit will be temporary
and will become final only when we are paid the funds
represented by the item. Even after the credit becomes
final, it may be reversed under certain circumstances.
14. Check forms. If you use with your account any check
that is not provided by us or an approved vendor of ours or
does not meet our specifications for automatic processing
and truncation of checks, you will do so at your own risk,
and we will not be liable for any failure to process or delay
in processing the check.
21. Endorsement of items. You should endorse all checks
and other items as they are made out. If you cash or
deposit into your account any item that is not endorsed by
you, we may endorse the item for you. If you cash or
deposit into your account any item endorsed with a
restrictive legend (for
15. Physical examination of items. We may refuse to pay
any item payable from your account and presented to us
for payment if we are unable to ascertain information on
the item necessary to determine its amount or whether it
is properly
payable from your account, or we doubt its authenticity.
We will not be liable for refusing to pay the item.
example, “without recourse”), we may endorse the item
for you without any qualification. If any item cashed for
you or deposited into your account is not endorsed by any
other person the endorsement of the item by whom or
which is required, we may require you to provide
confirmation of the endorsement by the other person and
not make the funds represented by the item available for
withdrawal from your account until we receive the
confirmation. If we do not receive the confirmation, we
may charge the amount of the item against your account.
We may require that certain types of items (including a
government check or insurance company draft) payable to
more than one person be endorsed by each person to
whom or which it is payable.
16. Making of deposits. You can make deposits in person,
by mail, by direct deposit, or in any other way we allow.
17. Limitation on deposits. We may refuse any deposit
sought to be made into your account or impose any
condition on the deposit (including limiting the amount of
the deposit) and return all or part of any deposit into your
account. A so-called demand draft that does not have an
actual signature on it or an electronic debit to which a
check is converted may be deposited into your account
only if you first obtain our written consent to doing so.
You must indemnify us against any liability or expense we
incur as a result of any claim arising from the deposit into
your account of a so-called demand draft that does not
have an actual signature on it or an electronic debit to
which a check is converted. We may charge the amount of
the liability or expense against your account or collect it in
any other way.
22. Endorsement standards. Each endorsement on any
item deposited into your account, irrespective of source,
must be contained in the space on the back of the item
reserved for non-bank endorsements. We will not be liable
if there is any delay in returning the item unpaid until after
the deadline set by applicable law if our doing so is caused
by any endorsement or other marking outside the space
that was made by an authorized signer or another person
that endorsed the item before the authorized signer. You
must indemnify us for any liability or expense
8
unauthorized or altered; was missing an endorsement; had
an encoding error; or should not have been paid for some
other reason. We may charge the amount of the item
against your account even if doing so creates an overdraft.
we incur as a result of any claim arising because we are
unable to return any item payable from your account
unpaid within the time set by applicable law for our doing
so if the delay is caused by any marking on the back of
the item in the space reserved for a depository bank’s
endorsement that existed when you issued the item. We
may charge the amount of the liability or expense against
your account or collect it in any other way.
24. Foreign currency. If foreign currency or an item in a
foreign currency is deposited into your account, the
amount credited to your account for the foreign currency
or item will be based on an exchange rate determined by
us in our sole discretion.
23. Collection and cashing of items. We will act as your
agent in attempting to collect any item deposited into your
account. In attempting to collect the item, we will be
responsible only for exercising ordinary care, and we will
not be liable for any action or inaction of any
correspondent bank (whether negligent or not) or for the
loss, theft or destruction of the item in transit. The item
may be handled in accordance with applicable Federal
Reserve regulations and operating circulars, clearing
house association or funds transfer system rules, and
contractual arrangements with other financial institutions.
We will not be bound by any special instruction for
collecting the item unless the instruction is in writing, is
given to us with the item, and is agreed to by us in writing.
If the item is a noncash item, we will take it for collection
only, which means that we need not credit the funds
represented by it to your account until we actually receive
them.
We may attempt to collect the item if it is not paid. In
doing so, we may hold the item beyond the deadline under
applicable law for our taking action with respect to it and
may allow any other bank to hold it beyond the other
25. Cashing of items. If any item payable from your
account is presented to us for payment in cash, we may
impose as a condition of paying the item each requirement
that we consider reasonable including requiring
identification and evidence of the authority of the person
presenting it for payment, requiring payment of any fee we
impose for paying the item in cash, or requiring that the
item be presented for payment at a specified location. We
will not be liable for refusing to pay the item in cash if the
requirements we impose are not met.
26. Return of direct deposits. If for any reason we are
required to reimburse anyone for all or part of any deposit
into your account made under a direct deposit plan, we
may (except to the extent prohibited by applicable law)
charge the
amount we are required to reimburse against your account
or collect it in any other way.
27. Making of withdrawals. Any withdrawal from your
account may be made in person at any of our banking
offices or in any other way we allow.
bank’s deadline under applicable law for the other
bank’s taking
action with respect to it. We may also convert the item
into an electronic debit.
The crediting to your account of the funds represented by
the item will be subject to final payment of the item and our
receipt of the funds, even if the funds have been made
available for withdrawal from your account and even if the
item is drawn on us. If the item is not paid, we may charge
your account for its amount even if another bank held it
beyond the deadline under applicable law for that bank’s
taking action with respect to it. If the item is paid, we may
charge your account for its amount if it is returned to us
because someone has made a claim with respect to it that it
was forged, unauthorized or altered; was missing an
endorsement; had an encoding error; or should not have
been paid for some other reason. We may charge the
amount of the item against your account even if doing so
creates an overdraft. (For additional information about
overdrafts, see section 38.)
If the item is lost, stolen or destroyed in the process of
collecting it, our liability to you as a result of its loss, theft
or destruction (even if we are negligent) will be limited to
reimbursing you for your reasonable out-of-pocket costs of
stopping payment of the item and obtaining a replacement
for the item. You must assist us in any way we ask in
reconstructing and proving loss of the item.
We may charge the amount of any item that we cash for
you against your account if we cannot collect the funds
represented by it or if any claim with respect to it is made
against us, including a claim that it was forged,
28. Receipt of items. For the purpose of determining
whether to pay any item payable from your account or
charging the amount of the item against your account,
we may consider the item to be received by us when we
receive electronic identifying information concerning the
item even though we have not yet received the item. If
before presenting for payment a check written on your
account and deposited with another financial institution
for collection the other financial institution provides us
with electronic identifying information concerning the
check, we may pay the check and charge the amount of
the check against your account even though we have not
yet received the check.
29. Withdrawal of uncollected funds. Except to the
extent required by applicable law, we will not have to
allow funds deposited into your account but not yet
collected by us to be withdrawn from your account.
30. Prohibition of withdrawals. We may prohibit
withdrawals from your account if we suspect illegal,
fraudulent or unauthorized activity may be involved with
your account. We may prohibit withdrawals until all claims
against you or us to funds in your account have been fully
resolved to our satisfaction.
31. Refusal to allow withdrawals. In certain cases, we
may refuse to allow a withdrawal from your account,
9
including the following instances:
a. The withdrawal is sought to be made in a way not
authorized for your account;
b. The amount of the withdrawal would exceed the
balance available for withdrawal from your account;
c. The amount of the withdrawal would be less than any
required minimum amount of a withdrawal from your
account;
d. Any limitation on the maximum number or amount of
withdrawals from your account during a particular period
of time has been, or as a result of the withdrawal would
be, exceeded;
e. Another owner or authorized signer on your account
tells us not to allow a particular withdrawal;
f. We have reason to believe that there is a dispute
concerning ownership of your account or the authority of
authorized signers to act on your account;
g. Any limitation on the frequency of withdrawals from
your account has been, or as a result of the withdrawal
would be, exceeded; or
h. The withdrawal is sought to be made by an item that is
not signed by an authorized signer even though the item
indicates that an authorized signer authorized the item.
is not genuine.
34. Automated clearing house transactions. Any
automated clearing house entry credited to or charged
against your account will be subject to the operating rules
of the National Automated Clearing House Association. In
crediting or charging the entry, we may conclusively rely
on the representations and warranties made by the
originator of the entry under those operating rules. The
only notice we will give you of the entry will be in a
statement for your account. You acknowledge that under
those operating rules any automated clearing house entry
will be processed on the basis
of its identifying number, even if the identifying number
identifies a party different from the party involved in the
transaction to which the entry relates.
legend (for example, “void if not paid within 30 days” or
“not good for more than $100”) that would be violated
by our paying the item. We will not be liable if we pay the
35. Electronic check presentment, fax, email and other
instructions. We may charge your account for the amount
of any check written on your account that is converted by
the payee of the check into an electronic debit to your
account transmitted to us through an automated clearing
house. We may do so even if the check was previously
presented to us for payment and returned unpaid because
our paying the check would have created an overdraft. We
may honor any instructions that claim to come from an
authorized signer by fax, email, phone or otherwise if we
reasonably believe the instructions to come from an
authorized signer, but we may refuse to honor any such
instructions in our absolute discretion unless we advise you
after receiving such instructions that we have determined
to honor such instructions.
33. Signatures and verification. The signature of an
authorized signer will be the only signature required on
any item payable from your account or any other
instruction concerning your account. When an authorized
signer seeks to make any withdrawal from your account,
we may require proof satisfactory to us of his or her
identity or compliance with any procedure designed for
the purpose of verifying his or her identity. We may
require proof satisfactory to us that any signature on any
item payable from your account or any other instruction
concerning your account is authentic or compliance with
any procedure designed for the purpose of verifying that
the signature is authentic.
We will not be liable for not detecting any forged or
unauthorized signature on any item payable from your
account or any other instruction concerning your account
or any materially altered item payable from your account if
we exercised reasonable care or if you were negligent in
some way in allowing the forged or unauthorized signature
or alteration to occur.
We will not be liable for refusing to pay any item payable
from your account and supposedly signed by an authorized
signer or refusing to follow any instruction concerning your
account and supposedly signed by an authorized signer if
we believe or have reasonable concerns that the signature
36. Stopping payment of checks. Any authorized signer
may ask us to stop payment or decline certification of any
check written on your account. We will not have to follow
the order unless the order identifies precisely the account
number of your account; the amount, date and number of
the check, and the name of everyone to whose order the
check is payable; and provides any other reasonable
information concerning the check we request and, if the
check is a certified check, all additional requirements of
applicable law are met. We will not be liable for not
following the order if the check is computer-generated or
produced in any other way that does not produce an
encoded check number on the check in accordance with
general banking standards. We will not have to follow the
order until we have had a reasonable time to record it
against your account and verify that the check has not
already been paid. If the order is given in writing, it will
cease to be effective six months after the date it is
recorded against your account unless it is renewed. If you
phone in your stop payment order or otherwise provide it
to us orally, you must confirm it in writing within fourteen
(14) days. If we do not receive the confirmation during the
14 days, we are not required to keep the stop payment
order in effect but we may in our discretion continue to
treat the order as effective for up to six months after the
date it is recorded against your account. If we receive the
confirmation during the 14 days, the order will cease to be
effective six months after the date it is recorded against
your account unless it is renewed. The order may be
32. Stale, postdated or restricted items. We may pay or
refuse to pay any item payable from your account that (a)
is dated more than six months before the date it is
presented to us for payment, (b) is dated after the date it
is presented to us for payment, or (c) has a restrictive
item, even if we are aware of the date of the item or the
restrictive legend. A check that is dated after the date it is
presented to us for payment may be paid and charged
against your account before the date of the check.
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38. Overdrafts. This Section is subject in its entirety to the
terms of any overdraft protection products or services
governing your account. As used in these Rules:
renewed for six months at a time. Any renewal of the
order must be done in writing and must be received by us
in a reasonable time for us to record it against your
account before the order ceases to be effective. The
renewal will take effect on the date it is recorded against
your account and will cease to be effective six months
after that date. Any authorized signer may cancel any
order not to pay or certify a check written on your account
even if the order was given by another authorized signer.
We will not have to
follow the cancellation unless it is in writing and until we
have had a reasonable time to record it against your
account.
We will not be liable for paying or certifying any check
written on your account that we are properly ordered not
to pay or certify if we exercise ordinary care to avoid
paying or certifying the check. We will not be liable for
failing to pay or certify any check written on your account
for which an order not to pay or certify is properly
canceled if we exercise ordinary care to pay or certify the
check. We will have exercised that ordinary care if we act
in good faith, we have a reasonable system for
communicating orders of that type and cancellations of
orders of that type to our employees who would be likely
to receive the check, and we reasonably follow the system
as a matter of routine.
We will not be liable for paying or certifying any check
written on your account that we are properly ordered not
to pay or certify unless you can demonstrate that you
would not have been legally obligated to pay the amount
of the check, if we had followed the order not to pay or
certify the check.
You must indemnify us against each liability or expense
we incur as a result of any claim arising from our
following any order not to pay or certify any check written
on your account. We may charge the amount of the
liability or expense against your account or collect it in
any other way.
•
The “ledger balance”, “actual account balance”, or
“account balance” at any time reflects all credits and
debits that have posted to your account. The ledger
balance includes all deposits made to your account
whether or not the funds have been collected and
whether or not the funds are available for withdrawal
under the funds availability disclosure statement
applicable to your account. This balance is not
reduced by electronic banking card transactions we
have authorized but not yet paid (“must-pay items”),
or any other types of holds placed on funds in your
account.
•
The “available balance” or “available account balance”
at any time equals the ledger balance minus all of the
following:
• deposited funds not yet available for withdrawal
under the funds availability disclosure statement
applicable to your account,
• must-pay items, and
• the amounts of any legal, management,
administrative, and/or any other type of hold on
your account.
It is possible that a must-pay item may never be
presented to us for payment, may be presented to us on
a delayed basis, and/or may be presented in an amount
that differs from the authorized amount. This means that,
for a period of time, your available balance may be
reduced by more than the amount of the actual
transactions ultimately charged with your electronic
banking card. Items may lose their status as must-pay
items if they are not presented for payment within
established time periods.
Unless required under the terms of an overdraft
protection product or service governing your account,
authorization and payment of any item that would create
or increase a negative available balance (except for mustpay items, which we must pay when presented) is made
solely at our discretion. If and when we authorize any
electronic banking card item, it becomes a must-pay item.
We have to pay must-pay items when they are presented
to us for payment, even if the available balance is
negative or less than the amount of the item at the time
of presentment.
37. Charging of withdrawals. We may charge your account
for withdrawals in any order we choose, and we may
change the order at any time or from time to time. You
understand and agree that processing some items, such
as checks and ACH items (as opposed to electronic
banking card items, such as ATM and debit card items), in
the order of highest dollar amount to lowest dollar amount
within a batch tends to result in the most important items
being paid first. In determining the order in which we
charge your account for withdrawals, we may establish
different categories of withdrawals (for example, putting
withdrawals made by using a check into one category and
withdrawals made by using an electronic banking card into
another category) and, except to the extent that
applicable law requires the charging of withdrawals in a
particular order, establish the order of charging of
withdrawals between categories or within a category (for
example, charging withdrawals made by using an
electronic banking card before charging withdrawals made
by using a check or ACH, and charging withdrawals made
by using a check or ACH in the order of highest dollar
amount to lowest dollar amount).
Under federal law, we are not permitted to charge a
consumer’s account an unavailable funds fee on an ATM
or one-time (non-recurring) debit card transaction unless
the consumer affirmatively consents or “opts-in” to our
standard overdraft practices for ATM and one-time debit
card transactions. If you are a consumer and do not optin to our standard overdraft practices for ATM or one-time
debit card transactions, we will typically refuse to
authorize transactions when your available account
balance is negative or less than the amount of the
transaction we are asked to authorize. This paragraph
does not apply to business accounts.
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We will charge an unavailable funds fee if: (A) an item is
presented for payment at a time when the available
balance is negative or less than the amount of the item,
(B) you do not have an optional overdraft protection
product or service with sufficient funds or credit limit to
cover the item, (C) we pay the item, and (D) we are
permitted to charge the fee by applicable law. We will
charge an insufficient funds fee if: (1) an item is
presented for payment at a time when the available
balance is negative or less than the amount of the item,
(2) you do not have an optional overdraft protection
product or service with sufficient funds or credit limit to
cover the item, (3) we do not pay the item, and (4) we
are permitted to charge the fee by applicable law.
Applicable fees are shown on the schedule of account fees
and transaction limitations applicable to your account. We
encourage you to consider one of our overdraft protection
products or services, such as a link to a First Niagara
deposit account, credit card or overdraft line of credit
(subject to credit approval and/or eligibility requirements)
to help you avoid overdrafts and having items returned
for insufficient funds, because charges under our
overdraft protection products and services are generally
lower than our unavailable and insufficient funds fees,
and specified transactions may be authorized or paid with
our overdraft protection products or services that could
otherwise be declined under our standard overdraft
practices.
statement or otherwise make it available to you.
c. If you bring a legal proceeding against us because of the
error, we will not be liable for the error if you do not begin
the legal proceeding within one year after the date we send
you the statement or otherwise make it available to you
even if you notify us of the error within the applicable time
specified in this section and even if you sue us in connection
with any legal proceeding we bring against you.
40. Reliance on copies of items. If any item deposited
into your account for collection is not paid but is
unavailable to be returned to us (for example, because
it is lost, stolen or destroyed in the process of being
collected), we may conclusively rely on a paper,
electronic or other copy of the item or any means of
notifying us of the return of the item acceptable under
general banking standards in charging the amount of
the item against your account. We may pay and charge
against your account any item payable from your
account if we receive a paper, electronic or other copy
of the item that we determine is legitimate, whether or
not we are legally required to accept the copy.
41. Copies of paid items. We may retain a copy of any
item paid from your account rather than keeping the
original of the item. If we are unable to provide you with a
copy of the item or other proof of the item, we will not be
liable for more than the face amount of the item or your
actual damages resulting from our failure to provide you
with the copy or other proof, whichever is less.
If your ledger balance remains below $0 for seven
consecutive calendar days, whether or not we have made
a demand for repayment, we will charge you a continuous
overdraft fee as shown on the schedule of account fees
and transaction limitations applicable to your account, if
permitted by law.
42. Fees. Fees applicable to your account are set forth in
the schedule of fees and other disclosures and agreements
governing your account. You must pay us each fee
applicable to your account. We may charge the amount of
the fee against your account. We will not be liable if as a
result of our charging the amount of the fee against your
account, an overdraft is created or we do not allow any
withdrawal from your account. We may establish a new fee
or change an existing fee applicable to your account. If we
do so, we will send you a notice of the new fee or increase
in an existing fee at least 30 days before the date the
change takes effect. We will not have to notify you if we
decrease or eliminate an existing fee applicable to your
account.
If your ledger balance falls below $0 for any reason, you
agree to repay the deficit immediately upon demand,
even if there is more than one account holder and you
were not the accountholder who caused or benefited from
the negative balance position. You must reimburse us for
any liability or expense we incur in attempting to collect
the amount of any negative balance. We may charge the
amount of the liability or expense against your account or
collect it in any other way.
43. Notices of withdrawal. Unless your account is a noninterest bearing checking account, we may require that we
receive written notice of the date and amount of any
intended withdrawal from your account at least seven days
before the date the intended withdrawal is to be made. Any
decision we make to require the notice will be made in a
nondiscriminatory manner and in accordance with
applicable law.
39. Statements. There are limits on our liability to you for
making any error with respect to your account during the
period covered by any statement for your account that we
send you or otherwise make available to you. Unless the
error involves an electronic transfer to or from your account,
the limits are as follows:
a. If the error is other than the payment of an item
payable from your account that has a forged or
unauthorized endorsement, we will not be liable for the
error if you do not notify us of the error in time for us to
receive the notice within 30 days after the date we send
you the statement or otherwise make it available to you.
b. If the error is the payment of an item payable from
your account that has a forged or unauthorized
endorsement, we will not be liable for the error if you do
not notify us of the error in time for us to receive the
notice within 90 days after the date we send you the
44. Lost, stolen or destroyed document evidencing
account. If your account is evidenced by a passbook,
certificate of deposit, or other document and the document
is lost, stolen or destroyed, you must immediately notify us
of the loss, theft or destruction. Before we allow any
withdrawal from your account or issue a new document to
evidence your account after we receive the notice, we may
require an affidavit or other document satisfactory to us
12
concerning the loss, theft or destruction and an indemnity
bond or other document indemnifying us against any
liability or expense we incur as a result of any claim arising
because we allow the withdrawal or issue the new
document.
your account ending on that maturity date unless, on or
before that maturity date or the expiration of any
applicable grace period, we receive from you a request
that it be a different term for which we are offering to
open automatically renewable certificate of deposit
accounts on that maturity date or we provide notice to
you of the modified term.
b. During the term of your account beginning on the
maturity date on which the automatic renewal takes place,
interest on your account will be computed using a rate and
method no less favorable to you than the rate and method
least favorable to a depositor to be used in computing
interest on any other automatically renewable certificate of
deposit account with us of the same type opened on that
maturity date with a deposit equal to the amount of funds
in your account at the beginning of the day on that maturity
date and having the new maturity date as its first maturity
date.
c. We will not automatically renew your account at the
beginning of the day on any maturity date of your account
if, on or before that maturity date, we receive a notice not
to automatically renew your account from an authorized
signer.
d. If we do not automatically renew your account at the
beginning of the day on any maturity date of your account,
that maturity date will be the final maturity date of your
account. On and after the final maturity date of your
account, funds in your account will not be treated as on
deposit with us until a new maturity date.
45. Subaccounts. If your account is a checking account,
we may treat your account as consisting of two
subaccounts for the purpose of determining the reserves
we must maintain to comply with federal banking
regulations. The subaccounts will be a transaction
subaccount and a non-transaction subaccount.
Automatic transfers will be made between the
subaccounts from time to time in our discretion,
subject to restrictions imposed by federal banking
regulations. Your account will be treated as a single
account for all purposes other than determining those
reserves (for example, determining the balance
available for withdrawal from your account and
providing statements for your account).
46. Passbook. If you have a passbook account with us, we
may refuse to allow a withdrawal from it unless you present
the passbook. The passbook will be your record of
transactions involving your account. The amount in your
passbook is correct only if it agrees with our records. If
your account is closed, you must surrender the passbook to
us for cancellation.
47. Limitation on early withdrawal. If your account is a
non-automatically renewable certificate of deposit
account, we will not have to allow funds deposited into
your account to be withdrawn from your account before
the maturity date of your account. If your account is an
automatically renewable certificate of deposit account, we
will not have to allow funds deposited into your account
before the first maturity date of your account to be
withdrawn from your account before that maturity date,
to allow funds deposited into your account on or after any
maturity date of your account to be withdrawn from your
account before the next maturity date of your account or,
except during any grace period for your account, to allow
funds that are treated as on deposit in your account until
a new maturity date to be withdrawn from your account
before the new maturity date. Withdrawals which are
permitted are subject to the penalties set forth in the
Truth in Savings disclosure governing your account. For
consumer accounts, we may not assess a penalty if an
owner of your account dies or is declared legally
incompetent.
49. Delay in withdrawal. If your account is a certificate of
deposit account and any maturity date of your account is a
Saturday, Sunday, a federal holiday or any day the bank is
closed, funds may not be able to be withdrawn from your
account until our next business day.
50. Closing account. You or we may close your account at
any time. You may not close your account merely by
withdrawing all funds in it. You must notify us that you are
closing your account. If we close your account, we will
send you a notice of the closing. If the closing is
immediate, we will send you a check for the amount of all
funds remaining in your account after we charge it for all
applicable fees and other charges. If we provide advance
notice of closing at a future date, we may or may not
permit transactions against the account in the interim
period. We will not be liable if, after you or we close your
account or after we notify you that we are closing the
account at a future date, we do not allow any deposit into
or withdrawal from your account. The closing of your
account by you or us will not affect any of your obligations
under these Rules. If any overdraft is created after your
account is closed because we pay a check written on your
account, you will be liable for the amount of the overdraft.
48. Automatic renewal of certificate of deposit. If your
account is an automatically renewable certificate of
deposit account:
a. We reserve the right to not renew your account by
providing advance notice to you. Except as provided in
this section, if we automatically renew your account, it
will be renewed at the beginning of the day on each
maturity date of your account, which means that funds in
your account at that time will be treated as on deposit in
your account until a new maturity date. The term of your
account beginning on the maturity date on which the
automatic renewal takes place will be equal to the term of
51. Accounts open in names of two or more individuals.
Unless applicable law or the current signature card for your
account specifically provides otherwise, if your account is
opened in the name of two or more individuals it will be
owned by each of you as so-called joint tenants with the
right of survivorship. In order for an account to be held as
tenants in common, you must designate such status on the
bank’s signature card, enter into the bank’s agreement
13
for accounts held as tenants in common, and designate
the funds to be paid to the survivor(s) on the death of a
joint owner. Whether your account is opened as joint
tenants with the right of survivorship or tenants in
common:
software you use in communicating with us concerning
your account (for example, ordering any deposit into or
withdrawal from your account), whether directly or
through anyone providing any service to us, other than
any equipment, service or software provided by us for
your use. You assume all risks of loss resulting from the
selection, installation, maintenance, operation or use of
the equipment, service or software. EXCEPT TO THE
EXTENT REQUIRED BY APPLICABLE LAW, IN NO EVENT
WILL WE BE LIABLE FOR ANY DAMAGES (FOR EXAMPLE,
ACTUAL, CONSEQUENTIAL, INCIDENTAL, SPECIAL,
PUNITIVE OR EXEMPLARY DAMAGES), WHETHER ARISING
FROM BREACH OF CONTRACT, BREACH OF WARRANTY,
NEGLIGENCE OR OTHER TORT OR STRICT LIABILITY OR
OTHERWISE, THAT RESULT FROM ANY ERROR IN
SELECTING, INSTALLING, MAINTAINING, OPERATING OR
USING, UNAVAILABILITY, FAILURE, MALFUNCTION OR
INTERRUPTION OF, COMPROMISE OF DATA SENT USING OR
VIRUS OR SIMILAR PROBLEM RESULTING FROM THE
EQUIPMENT, SERVICE OR SOFTWARE, EVEN IF WE ARE
NOTIFIED OF OR OTHERWISE KNOW OR SHOULD KNOW OF
THE POSSIBILITY OF THOSE DAMAGES.
a. Until the bank receives the notice of the death of one
of these individuals, all funds in your account may be
treated as property of each of the individuals without any
limitation. After the death of any of those individuals, we
will not have to allow any withdrawal from your account
until we receive all documents that we believe applicable
law requires us to have before the withdrawal is made.
b. Unless applicable law specifically provides otherwise,
each of those individuals, acting alone, may take any
action with respect to your account that he or she
could take if your account were open in his or her
name alone. We will not have to allow any of those
individuals acting alone to take any particular action
concerning your account and may instead require that
all of them authorize the action.
c. All those individuals will be, individually and together,
liable under these Rules and with respect to your
account. We may sue any of those individuals under
these Rules or with respect to your account whether or
not we sue anyone else. Each of those individuals will
be liable for paying us the amount of any overdraft, and
we may sue him or her to collect the overdraft, even if
he or she did not create the overdraft or benefit from
the overdraft.
d. If we close your account, we may send or deliver to
any of those individuals, on behalf of all of them, a
check payable to any of them for the amount of all
funds remaining in your account after we charge it for
all applicable fees and other charges.
e. We may send any of those individuals or otherwise
make available to any of them any statement for your
account or any notice or other communication or
document concerning these Rules, the Agreement or
your account, and it will be effective for all of them.
f. For the purpose of our complying with any legal
process concerning your account, exercising any right of
setoff against your account, or enforcing any security
interest in, or assignment of, funds in your account, all
of those individuals will be considered to have an
undivided interest in all funds in your account. If we
receive any legal process directing us to pay funds
belonging to any of those individuals, we may use all
funds in your account to satisfy the legal process even if
the funds were not deposited by that individual.
54. LIMITATION OF LIABILITY. EXCEPT TO THE EXTENT
REQUIRED BY APPLICABLE LAW, IN NO EVENT IN PROVIDING
ANY SERVICE IN CONNECTION WITH OR OTHERWISE
DEALING WITH YOUR ACCOUNT (FOR EXAMPLE, HANDLING
ANY DEPOSIT INTO OR WITHDRAWAL FROM YOUR
ACCOUNT) WILL WE BE LIABLE FOR:
a. ANY DAMAGES INCURRED BY YOU (FOR EXAMPLE,
CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR
EXEMPLARY DAMAGES) IN ADDITION TO ACTUAL DAMAGES,
WHETHER ARISING FROM BREACH OF CONTRACT, BREACH
OF WARRANTY, NEGLIGENCE OR ANY OTHER TORT OR
STRICT LIABILITY OR OTHERWISE, EVEN IF WE ARE
NOTIFIED OF OR OTHERWISE KNOW OR SHOULD KNOW OF
THE POSSIBILITY OF THOSE DAMAGES;
b. AN OCCURRENCE BEYOND OUR REASONABLE CONTROL,
SUCH AS A FLOOD OR OTHER NATURAL CATASTROPHE,
WEATHER CONDITION, FIRE, RIOT OR OTHER CIVIL
DISOBEDIENCE, ACT OF WAR OR TERRORISM, NATIONAL
EMERGENCY, EMBARGO, STRIKE OR OTHER LABOR DISPUTE,
DEFECT IN OR UNAVAILABILITY, FAILURE, MALFUNCTION
OR INTERRUPTION OF ANY EQUIPMENT, SERVICE OR
SOFTWARE (FOR EXAMPLE, A TELECOMMUNICATION,
INTERNET ACCESS, ELECTRONIC OR OTHER MAIL, COURIER
OR OTHER TRANSMISSION OR COMMUNICATION SERVICE),
SUSPENSION OF PAYMENTS BY ANY OTHER FINANCIAL
INSTITUTION OR OPERATOR OF AN AUTOMATED CLEARING
HOUSE OR ACTION OR INACTION OF ANY GOVERNMENTAL
BODY, BANKING OR PAYMENT SYSTEM, CORRESPONDENT
BANK OR SERVICE PROVIDER; OR
c. ANY AMOUNT IN EXCESS OF THE AMOUNT OF ANY
TRANSACTION THAT WE FAIL TO COMPLETE IN PROVIDING
THE SERVICE OR OTHERWISE DEALING WITH YOUR
ACCOUNT.
52. Notice of issues bearing on withdrawals. You must
immediately notify us of any possible illegal,
unauthorized or fraudulent use of your account or any
loss or theft of any material (for example, a blank check
or electronic card) that can be used in making a
withdrawal from your account.
55. Providing account information. We may provide
information concerning you, your account or any
transaction involving your account when required or
allowed by applicable law. We may report to an
appropriate governmental authority interest earned on
your account, a deposit of a large amount of cash into
53. Equipment, services and software. You are
responsible for the selection, installation, maintenance,
operation and use of any equipment (for example, a
computer or telephone), service (for example, a
telecommunications or internet access service) or
14
your account or a transaction involving your account
that we believe to be suspicious.
59. Indemnity against actions of authorized persons. In
order to induce us to honor requests for services, including
but not limited to those enumerated above, you hereby
agree to indemnify us against any liability or expense we
incur as a result of any claim brought by virtue of any
misconduct, negligence, action or omission on the part of
any individual who has been listed as a person authorized
to act on your behalf (e.g. an authorized signer or an
attorney in fact under a power of attorney) in any
document provided to the bank.
56. Legal process. If we receive any legal process
concerning your account that we believe is valid,
regardless of at which of our locations we receive it and
how it is served on us, we may accept and act on it (for
example, by paying funds in your account in satisfaction
of it or providing information about you, your account or
any transaction involving your account). We will not be
liable if, as a result of satisfying the legal process or
paying any service fee we impose for the legal process
being served on us, we do not allow any withdrawal from
your account. If the legal process seeks funds in your
account, we may prohibit the withdrawal of the funds from
your account until we determine who is entitled to the
funds. If we cannot determine who is entitled to the funds,
we may deposit the funds with a court and ask it to decide
who is entitled to the funds. You must reimburse us for any
liability or expense we incur in responding to the legal
process. You must indemnify us against any liability or
expense we incur as a result of any claim relating to how
we handle the legal process. We may charge the amount of
the liability or expense for which you must reimburse us or
against which you must indemnify us against your account
or collect it in any other way.
60. Reimbursement and indemnification. Without limiting
any other obligation you have under these Rules to
reimburse us, you will reimburse us for any liability or
expense we incur as a result of any dispute involving your
account, or our defense or enforcement of any of our
rights with respect to your account. This obligation
includes disputes between you and us and situations where
we become involved in disputes between you and an
authorized signer, another joint owner, or a third party
claiming an interest or asserting a dispute pertaining to
your account. Without limiting any other obligation you
have under these Rules to indemnify us, you must, except
to the extent that these Rules or applicable law imposes
liability on us, indemnify us and each officer, employee and
other agent of ours against each liability or expense we
incur as a result of any claim arising in connection with
your account. We may charge the amount of the liability or
expense for which you must reimburse us or which you
must indemnify us against your account or collect it in any
other way.
57. Disputes regarding account ownership and authority to
act. If there is a legal proceeding concerning your account
or if we believe that there is a dispute concerning
ownership of funds in your account or authority to act on
your account, we may:
a. Prohibit withdrawals from your account until we are
satisfied that the legal proceeding or dispute has been
resolved or we receive a court order telling us what to do;
b. Allow withdrawals from your account in accordance
with the current signature card for your account;
c. Allow withdrawals from your account not in accordance
with the current signature card for your account if we are
satisfied that doing so is justified by evidence presented to
us;
d. Close your account and issue a check payable to
whomever we consider appropriate for the amount of all
funds remaining in your account after we charge it for all
applicable fees and other charges; or
e. Deposit the funds in your account with a court and ask
it to decide who is entitled to the funds.
You must reimburse us for any liability or expense we incur
in responding to the dispute. You must indemnify us
against any liability or expense we incur as a result of any
claim relating to how we handle the dispute. We may
charge the amount of the liability or expense for which you
must reimburse us or against which you must indemnify us
against your account or collect it in any other way.
61. Correction of errors. We may charge your account to
repay any erroneous deposit into your account, regardless
of the source of or reason for the erroneous deposit, or to
correct any error in crediting or charging your account in
connection with any deposit into or withdrawal from your
account.
62. Right of setoff. We have what is called a right of
setoff. Under this right of setoff, if any indebtedness or
amount owing from you to us (including an overdraft on
another account), whether existing now or coming into
existence in the future is not paid by the date it becomes
due, we may (except to the extent that doing so would
result in a tax penalty or be prohibited by applicable law)
take all funds in your account to pay such overdue amount
and any other overdue amount, in any order we choose.
This right of setoff applies so long as there is at least one
person in common on the account governed by these
Rules and the overdue indebtedness. We will not be liable
if, as a result of taking the funds, we do not allow any
withdrawal from your account. Except to the extent
prohibited by applicable law, our claim to the funds under
this section will be superior to any other claim to the
funds. If under applicable law any of the funds are exempt
from our exercise of the right of setoff, to the extent
allowed by applicable law, you irrevocably waive the
exemption and consent to our exercise of the right of
setoff. You must indemnify us against any liability or
expense we incur as a result of any claim arising from our
exercise of the right of setoff. We may charge the amount
of the liability or expense against your account or collect it
58. Cooperation with investigation. In the event of any
claim or dispute arising from your account, you will
cooperate and assist us and any law enforcement
authorities in connection with any investigation and
prosecution. You understand and agree that failure to
cooperate may result, in our sole discretion, in our
dishonoring any claim you have made.
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in any other way.
our business, we or anyone acting on our behalf may
monitor and record, and you consent to our monitoring
and recording, any telephone, electronic mail, and other
communications between any of our employees and other
agents and you, any authorized signer or anyone else
acting on your behalf.
63. Statements, notices and changes of address. We may
send you any statement for your account, notice,
communication, or other item concerning these Rules, the
Agreement, or your account in any way not prohibited by
applicable law. These items will be sent to your current
mailing address, electronic mailing address, or current
telephone number for the receipt of facsimiles shown in
our records concerning your account. If sent by mail, it
may be sent by regular mail and will be considered to have
been received by you five days after the date we send it. If
your mailing address, electronic mail address or telephone
number for receipt of facsimiles changes, you must
promptly notify us of the new address or telephone
number. Except as provided otherwise in these Rules or by
applicable law:
a. Any item we send you concerning these Rules, the
Agreement, or your account will take effect when we send
it;
b. Any item that is sent by you or on your behalf
concerning these Rules, the Agreement, or your account
must be in writing and sent by mail or courier, and will not
take effect until we receive it and have a reasonable time
to act on it.
We may send you items to only one address and such
notice will be binding and effective to all owners of the
account. If any item we send to the address of record is
returned as undeliverable, we need keep it for only 90
days. If statements for your account are returned as
undeliverable for six consecutive statement periods for
your account, we may stop sending statements for your
account.
67. Credit information. We may investigate your credit
record and obtain any credit report we believe appropriate
in connection with any aspect of our dealings with your
account. We may furnish information concerning your
account or any aspect of our dealings with your account to
other financial institutions and credit reporting agencies.
68. Transfer of claims. If we credit your account or
reimburse you for any amount withdrawn from your
account that you claim should not have been charged
against your account because of a dispute concerning a
transaction, because we paid a check written on your
account for which a valid order not to pay it was in effect,
or because of any
possible illegal, unauthorized or fraudulent use of your
account, you transfer to us each claim (other than a tort
claim) you have against anyone involved in the transaction,
anyone to whom or which the check was payable or anyone
involved in the possible illegal, unauthorized or fraudulent
use, and you must not pursue the claim without first
obtaining our permission in writing and must assist us in
any way we ask in pursuing the claim.
69. Reasonable time to act. A reasonable time for us to
act on any information, notice, order or other
communication or document concerning your account
received by us will not end until at least the close of
business on our second business day after our business
day we receive the information, notice, order or other
communication or document.
64. Updating. You must promptly notify us of any change
in any of the following things:
a. Any information you provided to us when your account
was opened (for example, your legal name, any trade
name you use or any identification number for you);
b. Any documentation you provided to us when your
account was opened (for example, if you are not an
individual, your organizational documents);
c. If you are not an individual, any change in your form of
legal organization; and
d. The authority of any authorized signer to take action
with respect to your account.
You will promptly provide us with any identifying
information or other documentation we request. If you fail
to do so, we may prohibit withdrawals from your account
or close your account.
70. Changes. No change in these Rules can be made
except as provided in this section. We may change these
Rules. We will send you a notice of the change at least 30
days before the date the change takes effect. If the notice
is returned to us as undeliverable, the change will still take
effect.
71. Multiple rights. Any right we have under these Rules is
in addition to, and not in place of, any other right we have
under these Rules, any other agreement or applicable law.
Any right of setoff we have under these Rules is in addition
to, and not in place of, any right we have to enforce any
security interest in, or assignment of, funds in your account
given to us in these Rules or any other agreement.
65. Abandoned property. Your account may be subject to a
statute of a state or other jurisdiction that treats funds in
your account as abandoned property subject to being
turned over to that state or other jurisdiction if your
account is inactive for a period of time specified by the
statute. We will not be liable to you if we turn the funds in
your account over to that state or other jurisdiction in
accordance with the statute or charge your account for
recoverable expenses in connection with our turning the
funds over to that state or other jurisdiction.
72. No notice or loss of rights. We may exercise, give up,
fail to exercise or delay exercising any of our rights under
these Rules, the Agreement, or with respect to your
account or against you, anyone else or any property
without notifying you. If on any occasion we exercise, give
up, fail to exercise or delay the exercise of any of those
rights, we will not lose that right on any other occasion or
lose any other of those rights. If on any occasion we allow
an overdraft to occur, we will not lose the right not to do so
on another occasion.
66. Monitoring communications. In the regular course of
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73. Giving up of certain rights by us. None of our rights
under these Rules, the Agreement, or with respect to your
account or against you, anyone else or any property can be
given up by us except in a writing signed by us.
conclusive and may be enforced in any other state or other
jurisdiction.
Nothing in this section alters your or our rights or
obligations under the Arbitration Provision.
74. Giving up of certain rights by you. You give up any
right to require that we demand payment of any item
credited to or charged against your account, notify you if
the item is not paid or obtain a certificate stating that the
item was not paid. If a check deposited into your account is
not paid, we will not have to notify you that it was not paid
or obtain a certificate stating that it was not paid.
80. WAIVER OF TRIAL BY JURY. IF A DISPUTE IS RESOLVED
IN COURT RATHER THAN ARBITRATION, YOU KNOWINGLY,
VOLUNTARILY, AND IRREVOCABLY WAIVE ANY RIGHT YOU
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING BY US
AGAINST YOU OR BY YOU AGAINST US INVOLVING THESE
RULES OR YOUR ACCOUNT.
81. ARBITRATION PROVISION.
Arbitration is a method of resolving disputes in front of an
arbitrator instead of having a trial in court in front of a
judge or jury. An “arbitrator” is a neutral person from one
of the organizations listed below who will decide the
dispute. This Arbitration Provision governs when and how
disputes between you and us will be arbitrated if a dispute
arises and you or we choose to arbitrate the dispute instead
of having a court or jury resolve the dispute.
75. Transfer or pledge of your account. You may not
transfer your account or any of your rights and obligations
under these Rules or with respect to your account to
anyone else. Any transfer by you of your account or any of
those
rights and obligations except as provided in this section will
be void. If you pledge your account to someone else, no
withdrawal from your account may be made, whether
before or after your death, unless we are satisfied that the
pledge is no longer in effect or the withdrawal is consistent
with the terms of your pledge. We may transfer your
account and any of our rights and obligations under these
Rules or with respect to your account to anyone else.
READ THIS ARBITRATION PROVISION CAREFULLY AS IT
WILL HAVE A SUBSTANTIAL IMPACT ON HOW LEGAL
CLAIMS YOU AND WE HAVE AGAINST EACH OTHER ARE
RESOLVED. If either you or we elect to arbitrate a Claim
rather than have a court (a judge or a jury) decide the Claim,
it will be resolved by individual (not class or class-wide)
binding arbitration in accordance with the terms specified in
this Arbitration Provision.
76. Permitted actions. We will not be obligated to take or
liable for not taking any action in connection with your
account that these Rules or applicable law allows but does
not require us to take. Except to the extent limited by
these Rules or applicable law, we may, for any reason and
without notifying you or obtaining your consent, take any
action in connection with your account that these Rules or
applicable law allows us to take. Except to the extent
limited by these Rules or applicable law, we may close your
account, refuse to allow any deposit into or withdrawal
from your account, or change these Rules.
YOU HAVE THE RIGHT TO REJECT (NOT BE BOUND BY)
THIS ARBITRATION PROVISION AS DESCRIBED BELOW. If
you do not reject this Arbitration Provision and a Claim is
arbitrated, neither you nor we will have the right to: (1)
have a court or a jury decide the Claim; (2) engage in
information-gathering (discovery) to the same extent as in
court; (3) participate in a class action, private attorney
general or other representative action in court or in
arbitration; or (4) join or consolidate a Claim with claims of
any other person. The right to appeal is more limited in
arbitration than in court and other rights in court may be
unavailable or limited in arbitration.
77. Conflicts. If any part of these Rules conflicts with
applicable law, that law will control, and these Rules will be
considered changed to the extent necessary to comply with
that law.
78. Continued effectiveness. Except as set forth in the
Arbitration Provision, if any part of these Rules is
determined to be invalid, the rest of these Rules will remain
in effect.
Special Definition of “We,” “Us” and “Our.” For purposes of
this Arbitration Provision, in addition to the meanings set
forth in section 1.a of these Rules, the terms “we,” “us” and
“our,” also refer to our employees, officers, directors,
parents, controlling persons, subsidiaries, affiliates,
successors and assigns. “We,” “us” and “our” also apply to
third parties if you assert a Claim against such third parties
in connection with a Claim you assert against us.
79. Legal proceedings. Except as set forth in the
Arbitration Provision, any legal proceeding in connection
with these Rules or your account must be brought in a
federal or state court in the state where your account is
located. To the extent allowed by applicable law:
a. You submit to the jurisdiction of the court in which the
legal proceeding is brought;
b. You give up any claim that the legal proceeding has
been brought in an inconvenient court;
c. Documents in the legal proceeding may be served on
you by sending or delivering them to you at your current
mailing address shown in our records concerning your
account; and
d. A final judgment in the legal proceeding will be
Definition of “Claim.” A “Claim” is any claim, dispute or
controversy between you and us (whether preexisting,
present or future) which arises out of or relates to the
Agreement, these Rules, your account, any prior
agreement or account you have had with us, the events
leading up to your opening an account with us and
continuing to maintain your account (for example, any
disclosures, advertisements, promotions or oral or written
statements made by us), any product or service provided
17
by us or third parties in connection with your account or
any transaction conducted with us.
pursuant thereto. To the extent state law is applicable
under the FAA, the law of the state applicable under
section 3 of these Rules shall apply.
The term “Claim” has the broadest possible meaning. It
includes initial claims, counterclaims, cross-claims, thirdparty claims and federal, state, local and administrative
claims and claims which arose before the effective date of
this Arbitration Provision. It also includes disputes based
upon contract, tort, consumer rights, fraud and other
intentional torts, constitution, statute, regulation,
ordinance, common law and equity and claims for money
damages and injunctive or declaratory relief.
Class Action Waiver. Notwithstanding any other provision of
these Rules or the Agreement, if either you or we elect to
arbitrate a Claim, neither you nor we will have the right: (a)
to participate in a class action, private attorney general
action or other representative action in court or in
arbitration, either as a class representative or class
member; or (b) to join or consolidate Claims with claims of
any other persons. No arbitrator shall have authority to
conduct any arbitration in violation of this provision or to
issue any relief that applies to any person or entity other
than you and/or us individually. (Provided, however, that
the Class Action Waiver does not apply to any lawsuit or
administrative proceeding filed against us by a state or
federal government agency even when such agency is
seeking relief on behalf of a class of borrowers including
you. This means that we will not have the right to compel
arbitration of any claim brought by such an agency).
However, the term “Claim” does not include:
a. any dispute or controversy about the validity,
enforceability, coverage or scope of this Arbitration
Provision or any part thereof (including, without limitation,
the Class Action Waiver set forth below and/or this
sentence); all such disputes or controversies are for a
court and not an arbitrator to decide. But any dispute or
controversy that concerns the validity or enforceability of
the Rules or the Agreement as a whole is for the arbitrator,
not a court, to decide.
The parties acknowledge that the Class Action Waiver is
material and essential to the arbitration of any disputes
between them and is non-severable from this Arbitration
Provision. If the Class Action Waiver is limited, voided or
found unenforceable, then the parties’ Arbitration Provision
(except for this sentence) shall be null and void with
respect to such proceeding, subject to the right to appeal
the limitation or invalidation of the Class Action Waiver.
The parties acknowledge and agree that under no
circumstances will a class action be arbitrated.
b. any individual action brought by you in small claims
court or your state’s equivalent court, unless such action is
transferred, removed or appealed to a different court;
c. the exercising of any self-help or non-judicial remedies
by you or us. “Self-help” and “non-judicial” remedies are
actions you or we can take that do not involve court
action. An example is setoff rights in your account (section
62 of these Rules);
Arbitration Procedures.
a. Electing arbitration. If you or we elect to arbitrate a
Claim rather than have a court decide the Claim, the party
electing arbitration must notify the other party in writing.
This notice can be given after the beginning of a lawsuit
and can be given in papers filed in the lawsuit (for
example, a motion by the defendant to compel arbitration
of claims asserted by the plaintiff in a lawsuit filed in
court). Otherwise, your notice must be sent to First
Niagara Bank, N.A., 726 Exchange Street, Suite 618,
Buffalo, NY, 14210-1484 Attn: General Counsel, and our
notice must be sent to the most recent address for you in
our files. Any arbitration hearing that you attend will take
place in a venue reasonably convenient to where you
reside unless you and we agree otherwise.
d. any individual action in court by one party that is
limited to preventing the other party from using a self-help
or non-judicial remedy and that does not involve a request
for damages or monetary relief of any kind; or
e. disputes regarding ownership of funds in and a person’s
authority to act on your account and other legal matters
regarding your account described in sections 56 and 57 of
these Rules.
The institution and/or maintenance of any right, action or
litigation specified above will not waive the right of either
of the parties to compel arbitration regarding any other
dispute subject to arbitration pursuant to this Arbitration
Provision.
This Arbitration Provision will not apply to any Claims that
are the subject of a class action filed in court that is
pending as of the effective date of this Arbitration Provision
in which you are alleged to be a member of the putative
class for as long as such class action is pending.
If a party files a lawsuit in court asserting Claim(s) that are
subject to arbitration and the other party files a motion to
compel arbitration with the court which is granted, it will be
the responsibility of the party asserting the Claim(s) to select
an arbitration administrator pursuant to the paragraph
below and start the arbitration proceeding in accordance
with the administrator’s rules and procedures.
Federal Arbitration Act. The parties agree and
acknowledge that these Rules and the Agreement evidence
a transaction involving interstate commerce and,
therefore, a federal statute, the FAA (Title 9 of the United
States Code), shall govern the interpretation and
enforcement of this Arbitration Provision and proceedings
b. Arbitration administrators and rules. The arbitration
administrator will be:
American Arbitration Association (“AAA”) 1633 Broadway,
10th Floor New York, NY 10019 www.adr.org 1-800-7787879
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or
amount equivalent to the fee, if any, for filing such Claim(s)
in state or federal court (whichever is less) in the judicial
district in which you reside. (If you have already paid a
filing fee for asserting the Claim(s) in court, you will not be
required to pay that amount again). In addition, the
administrator may have a procedure whereby you can seek
a waiver of fees charged to you by the administrator and
arbitrator. We will pay any fees or expenses that we are
required to pay by law or the administrator’s rules or that
we are required to pay for this Arbitration Provision to be
enforced.
JAMS 620 Eighth Avenue, 34th Floor New York N.Y.
10018 www.jamsadr.com 1-800-352-5267.
You may contact these organizations directly if you have
any questions about the way they conduct arbitrations or
want to obtain a copy of their rules and forms (which are
also available on their websites). If the AAA and JAMS are
unable or unwilling to serve as administrator, the parties
may agree upon another administrator or, if they are
unable to agree, a court shall select the administrator or
arbitrator. No company may serve as administrator,
without the consent of all parties, if it adopts or has in
place any formal or informal policy that is inconsistent with
and purports to override the terms of the Class Action
Waiver in this Arbitration Provision.
f. The arbitrator’s decision. At the timely request of either
party, the arbitrator shall write a brief explanation of the
grounds for the decision. A judgment on the arbitrator’s
decision (called the “award”) may be entered by any court
having jurisdiction. Notwithstanding any other provision of
these Rules, we will not exercise any right of setoff to any
arbitration award made to us unless and until the
arbitration award is confirmed by a court having
jurisdiction and becomes a final judgment and until any
timely appeal thereof is completed.
In the event of a conflict between the provisions of this
Arbitration Provision and any applicable rules of the AAA or
JAMS or other administrator used or any other terms of
these Rules or the Agreement, the provisions of this
Arbitration Provision shall control.
c. The arbitrator. A single arbitrator will be appointed by
the administrator and must be a practicing attorney with
ten or more years of experience or a retired judge.
Severability and Survival. If any part of this Arbitration
Provision, other than the Class Action Waiver, is deemed
or found to be unenforceable for any reason, the
remainder shall be enforceable. This Arbitration Provision
shall survive the closing of your Account and the
termination of any relationship between you and us,
including the termination of these Rules. It will also
survive any bankruptcy to the extent consistent with
applicable bankruptcy law.
d. What law the arbitrator will apply. The arbitrator will not
be bound by judicial rules of procedure and evidence that
would apply in a court, nor by state or local laws that
relate to arbitration proceedings. The arbitrator will apply
the same statutes of limitation and privileges that a court
would apply if the matter were pending in court. (A
“statute of limitations” is the time period allowed by law for
initiating a lawsuit or other court action).
Effect of Arbitration Award; Appeal. The arbitrator's award
shall be final and binding on all parties, except for any right
of appeal provided by the FAA. However, if the amount of
the Claim exceeds $50,000, any party can, within 14 days
after the entry of the award by the arbitrator, appeal the
award to a three-arbitrator panel administered by the
administrator. The panel shall reconsider anew any aspect
of the initial award requested by the appealing party. The
decision of the panel shall be by majority vote. Unless the
parties agree otherwise, and to the extent feasible, the
appeal will be conducted pursuant to or modeled after the
JAMS Optional Appeal Procedure, available at
http://www.jamsadr.com/rules-optional-appeal-procedure.
Reference in this Arbitration Provision to “the arbitrator”
shall mean the panel if an appeal of the arbitrator’s
decision has been taken. The costs of such an appeal will
be borne in accordance with subparagraph (e) above,
captioned “Arbitration costs.” Any final decision of the
appeal panel is subject to judicial review only as provided
under the FAA.
In determining liability or awarding damages or other
relief, the arbitrator will follow the applicable substantive
law, consistent with the FAA, that would apply if the
matter had been brought in court. The arbitrator may
award any damages or other relief or remedies that would
apply under applicable law to an individual action brought
in court, including, without limitation, punitive damages
(which shall be governed by the Constitutional standards
employed by the courts) and injunctive, equitable and
declaratory relief (but only in favor of the individual party
seeking relief and only to the extent necessary to provide
relief warranted by that party’s individual claim).
The arbitrator will have the authority to award fees and
costs of attorneys, witnesses and experts to the extent
permitted by these Rules, the administrator’s rules or
applicable law. With respect to Claim(s) asserted by you in
an individual arbitration, we will pay your reasonable
attorney, witness and expert fees and costs if and to the
extent you prevail, if applicable law requires us to or if we
must bear such fees and costs in order for this Arbitration
Provision to be enforced.
Notice and Cure; Special Payment. Prior to initiating a
Claim, you may send us a written Deposit Dispute Claim
Notice. In order for a Deposit Dispute Claim Notice to be
valid and effective, it must: (a) state your name, address
and account number; (b) be signed by you; (c) describe the
basis of your Claim and the amount you would accept to
resolve the Claim; (d) state that you are exercising your
rights under the “Notice and Cure” paragraph of the
e. Arbitration costs. At your written request, we will pay all
filing, hearing and/or other fees charged by the
administrator and arbitrator to you for Claim(s) asserted by
you in an individual arbitration after you have paid an
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Arbitration Provision; and (e) be sent to us by certified
mail, return receipt requested, at First Niagara Bank, N.A.,
6950 South Transit Road, P.O. Box 514, Lockport, NY
14095, Attn: Deposit Dispute Claim Notice. This is the sole
and only method by which you can submit a Deposit
Dispute Claim Notice. Upon receipt of a Deposit Dispute
Claim Notice, we will credit your account for the standard
cost of a certified letter. You must give us a reasonable
opportunity, not less than 30 days, to resolve the Claim.
If, and only if, (i) you submit a Deposit Dispute Claim
Notice in accordance with this paragraph on your own
behalf (and not on behalf of any other party); (ii) you
cooperate with us by promptly providing the information
we reasonably request; (iii) we refuse to provide you with
the relief you request before an arbitrator is appointed;
and (iv) the matter then proceeds to arbitration and the
arbitrator subsequently determines that you were entitled
to such relief (or greater relief), you will be entitled to a
minimum award of at least $7,500 (not including any
arbitration fees and attorneys’ fees and costs to which you
will also be entitled). We encourage you to address all
Claims you have in a single Deposit Dispute Claim Notice
and/or a single arbitration. Accordingly, this $7,500
minimum award is a single award that applies to all Claims
you have asserted or could have asserted in the
arbitration, and multiple awards of $7,500 are not
contemplated.
who is rejecting the Arbitration Provision; and (d) be sent
by certified mail, return receipt requested, to First Niagara
Bank, N.A., P.O. Box 558, Harleysville, PA 19438 Attn:
Arbitration Rejection. Upon receipt of this notice, we will
credit your account for the standard cost of a certified
letter.
Right to Reject Arbitration Provision. You may reject this
Arbitration Provision, and therefore not be subject to being
required to resolve any claim, dispute or controversy by
arbitration, by following these procedures:
Dated: February 6, 2015
These are the only procedures you can use to reject the
Arbitration Provision.
Rejection of this Arbitration Provision will not affect any
remaining terms of these Rules or the Agreement and will
not result in any adverse consequence to you or your
account. This Arbitration Provision will apply to you and us
and to your account as of the date your account was
opened unless you reject it by providing proper and timely
notice as stated above.
Amendment; Etc. Notwithstanding any other provisions of
these Rules, we will not attempt to apply any amendment
to this Arbitration Provision without your written consent if
and to the extent that the amendment would affect the
litigation or arbitration of any Claim that has been the
subject of a prior Deposit Dispute Claim Notice. However,
this will not limit our power to waive any right we would
otherwise have nor our power to afford you any additional
right with respect to this Arbitration Provision.
a. If you open an account through our internet website,
you may reject the Arbitration Provision at that time by
following the instructions specified on the website, or by
sending us a Written Rejection Notice (defined below) so
that we receive it within forty-five (45) days after you
open your account.
b. If you open an account in person at one of our branches,
you may reject the Arbitration Provision at that time by
signing a form that we will supply at your request, or by
sending us a Written Rejection Notice so that we receive it
within forty-five (45) days after you open your account.
c. If you were formerly a customer of another bank and
your account was converted to an account with us, you
may reject the Arbitration Provision by sending us a
Written Rejection Notice so that we receive it within fortyfive (45) days after we mail you these Rules.
d. If you open an account by telephone, you may reject the
Arbitration Provision by sending us a Written Rejection
Notice so that we receive it within forty-five (45) days after
we mail you these Rules.
Written Rejection Notice. In order for a Written Rejection
Notice to be valid and effective, it must: (a) state that you
(or both or all of you, if more than one) wish to reject the
Arbitration Provision; (b) state your name, address and
account number; (c) be signed by you and any other person
20
DISCLOSURE STATEMENT REQUIRED BY THE ELECTRONIC FUND TRANSFER ACT
1. Meaning Of Some Words. In this disclosure statement:
a) "We," "us," "our" and "ours" mean First Niagara Bank, NA.;
b) "You" and "your" means any individual who has opened or opens an account with us or to whom an electronic
banking card has been issued and which is linked to an account with us. References to “you” and “your” include
anyone authorized to act on your behalf;
c) “Account” means a checking account, savings account, money market account, or other deposit account that is
opened with us whether solely in your name or jointly with other individuals and which was established primarily
for personal, family or household purposes;
d) "Card" means an electronic banking card issued to you and which is subject to our Electronic Banking Card
Agreement; any reference to “card” will also mean a reference to the number on the card and any other item on or
within the card;
e) "Checking account" means any checking account that is opened with us and, for purposes of this disclosure, a
checking account includes a money market account;
f) "Savings account" means any account that is opened with us other than a checking account;
g) “Electronic transfer” means, (whether made through an automated clearing house, through an electronic banking
card issued to you, or in any other way) any transfer of funds to or from your checking account or your savings
account that is begun electronically other than any transfer of funds made under an agreement between you and us
(for example, a computer banking or bill payment service);
h)
“Business Day” means Monday through Friday, excluding holidays; and
i)
“ATM” means automated teller machine.
2. Kinds Of Electronic Transfers. Examples of electronic transfers covered by this disclosure statement include:
a) Direct deposits of recurring Social Security or other governmental benefits by the federal government if began
electronically;
b) Direct deposits of recurring salary, wages or similar compensation by an employer if begun electronically;
c) Direct deposits of other recurring payments (for example, dividends) if begun electronically;
d) Recurring transfers of funds to make recurring payments (for example, insurance premiums) if begun
electronically but not under a computer banking or bill payment service;
e) Recurring transfers or a one-time transfer of funds under a computer banking or bill payment service provided to
you by someone other than us;
f) A one-time transfer of funds that is to pay for a purchase or to pay a bill and is begun electronically by a
merchant or other payee using information available on a check provided for use with the account (for example,
the number of the account and our bank routing number);
g) A one-time transfer of funds that is to pay a fee for the return of an unpaid check or electronic transfer and is
begun electronically by the payee of the check or electronic transfer; and
h) Any transactions involving the use of your card, as described in the Electronic Banking Card Agreement.
21
3. Limitations on Transfers. For savings accounts and money market accounts, during any monthly statement period
for your account (whether or not a statement for the period is made available to you), the total of (i) all electronic
transfers and all other transfers of funds from the account during that same period that are a preauthorized, automatic,
telephonic or computer transfer of funds to another deposit account with us or to a third party, (ii) automatic transfers
resulting from overdraft protection, (iii) a transfer of funds to a third party made by using a card (for example, a
transfer of funds to pay the purchase price of goods or services), or (iv) a transfer of funds made by a check, a draft or
any other order payable to a third party, may not exceed six (6).
4. Documentation.
a) Statements – Except with respect to passbook savings accounts, approximately once a month we will make a
statement for your account available to you unless we consider the account to be inactive. In any event we will
make available to you a statement for your accounts at least once a quarter. Account statements will show all
transactions credited to or charged against the account during the period covered by the statement.
b) Passbook – If your savings account is a passbook account and you bring the passbook to any of our banking
offices, we will record in it all electronic transfers made to the account since the last time we recorded such
transfers in the passbook.
5. Verifying Electronic Transfers. You may telephone us toll free at 1-800-421-0004 / outside the U.S. and Canada
888-781-3634 to find out whether an electronic transfer has been made.
6. Our Liability For Failure To Make Electronic Transfers. With exceptions, we will be liable only to the extent
provided by applicable law for damages you suffer as a result of our failure to make any electronic transfer (including
any card transaction) on time and in the correct amount, so long as the transaction was properly conducted or initiated
by you according to any agreement between you and us concerning the transaction. For card transactions, it will not
be properly initiated unless:
a) The merchant or financial institution honors your card;
b) All information required to complete the transaction is properly communicated by the individual initiating it; and
c) The transaction is not subject to any limitations referred to in the Electronic Banking Card Agreement (for
example, exceeding maximum cash withdrawal or purchase limits).
Examples of exceptions to our liability are as follows:
a) The transfer is to be made from an account of yours to another account, and before the transfer is made, either
account is closed;
b) We in good faith believe that the transfer is being made without your authorization or is fraudulent, illegal,
prohibited or unenforceable;
c) The amount of the transfer exceeds the amount of money available for withdrawal from the account (taking into
consideration any product or service your account has to cover overdrafts);
d) Funds in the account are: (i) subject to any legal process or administrative hold restricting removal, (ii) collateral
for a loan or other extension of credit, or (iii) the subject of a dispute or legal proceeding;
e)
Before a card transaction is charged against or credited to your account, the card has expired, the right to use your
card is canceled or suspended or the account to which the card is linked is closed;
f) The transaction is for the purpose of making a withdrawal from your account at an ATM and the ATM is out of
cash or is not dispensing in a single transaction as much cash as is sought in the transaction;
22
g) The transaction is to take place at an ATM and, when the transaction is initiated, the ATM is unavailable because
maintenance work is being performed on it;
h) An occurrence beyond our control (for example, a flood, fire, failure, malfunction or interruption of any
computer, telecommunications or other transmission or communication equipment or service, act of war or
terrorism or governmental action or inaction) prevents us from making the transfer despite our exercise of
reasonable care to prevent the occurrence and our exercise of diligence to make the transfer despite the
occurrence;
i)
A technical malfunction known to you at the time the transfer should have been made prevents us from making
the transfer; and
j)
Our failure to make the transfer is justified by any provision of any account or card agreement between you and us
(including any agreement relating to any product or service your account has to help cover overdrafts), or by
applicable law.
If we are liable for damages you suffer as a result of our failure to make the transfer or conduct the transaction on time
and in the correct amount, we will be liable for actual damages only and not for any consequential or punitive
damages if the failure was unintentional and resulted from a bona fide error despite our maintenance of processes and
procedures reasonably adapted to avoid the error.
7. Stopping Of Electronic Transfers. If you authorize us to make recurring electronic transfers from your account, you
may order us to stop any transfer in the series by telephoning us toll free at 1-800-421-0004 / outside the U.S. and
Canada 888-781-3634 or writing us at First Niagara Bank, N.A., Attention: Deposit Operations (FTA), P.O. Box 195,
Harleysville, PA 19438- 0195.
The transfer order will not be binding on us unless we receive it at least three business days before the date on which
the transfer is scheduled to be made. So long as we timely received the transfer order, we will be liable only to the
extent provided by applicable law for the actual damages you suffer as a result of our failure to comply with the order,
but we will not be liable for any consequential or punitive damages if the failure was not intentional and resulted from
a bona fide error despite our maintenance of procedures reasonably adapted to avoid the error. If the order is not in
writing, we may require you to provide a written confirmation of it so that we receive the written confirmation within
14 days after the date the order is given. The order will cease to be binding unless we receive the written confirmation
during the 14 days. The order may be limited to a single transfer in the series, or it may apply to all future transfers in
the series. If it applies only to a single transfer, we may, but we will not have to, allow any other transfer in the series.
8. Electronic Transfers Varying In Amount. At least 10 days before the date we make any of a series of recurring
electronic transfers that may vary in amount and that are to be made to a particular person from your account, we or
that person will send to you a written notice of the amount of the transfer and the date the transfer is to be made. As an
alternative to having the notice sent to you before each of the transfers is to be made, you may choose to have it sent
to you only when the amount of any of the transfers will differ by more than a certain amount set by you from the
amount of the previous transfer in the series or will fall outside certain limits set by you.
9. Notice Of Unauthorized Electronic Transfer. If you believe that any electronic transfer may have been or may be
made without your authorization, you must contact our Customer Contact Center immediately. You may do so by
telephoning us toll free at 1-800-421-0004 / outside the U.S. and Canada 888-781-3634 or writing First Niagara Bank,
N.A., Attention: Customer Contact Center, P.O. Box 514, Lockport, NY 14095.
10. Your Liability For Unauthorized Electronic Transfers. Subject to limitations under federal law, (i) if any statement
for your account that we make available to you shows any electronic transfer made without your authorization, (ii) we
are not notified of the unauthorized transfer within 60 days after the date we make the statement available to you, and
(iii) we can show that we could have stopped the unauthorized taking of money from the account had we been notified
of the unauthorized transfer during those 60 days, then you will have to bear the loss of money taken from the account
after the end of those 60 days and before we are notified of the unauthorized transfer. For a good reason (such as a
long trip or hospital stay by you), we will extend those 60 days for a reasonable time.
23
11. Disclosure. We may disclose information about your account or any transaction involving the account:
a) In any receipt issued in connection with the transaction;
b) As necessary to complete the transaction or to resolve any error or dispute concerning the transaction;
c) In any statement for the account that we make available;
d) To someone in whose name the account is opened or who is authorized to transact on the account;
e) In accordance with the permission of someone in whose name the account is opened or who is authorized to make
transactions on the account;
f) To verify the existence and condition of the account or to report our experience concerning the account to a third
party such as another financial institution, a credit reporting agency or a merchant;
g) To any affiliate of ours for the purpose of offering or providing any other product or service to you;
h) To any agent, contractor or vendor of ours for the purpose of providing any service to us in the regular course of
our business of administering your card or account, or for completing marketing activities of ours, in accordance
with our Privacy Policy; or
i)
To comply with any order of any court or other governmental body or otherwise as required or allowed by
applicable law.
12. Other Electronic Transfers. This disclosure statement is required by the Electronic Fund Transfer Act and applies
only to electronic transfers as defined in Section 1g. Other types of electronic fund transfers that are subject to the
Electronic Fund Transfer Act (for example, electronic fund transfers to or from your account made using a card
issued by us or a computer banking or bill payment service offered by us) will be covered in separate agreements that
contain disclosures required by the Electronic Fund Transfer Act.
13. Charge for Services. Our charges for electronic transfers are disclosed in the schedule of fees and transaction
limitations applicable to your account.
14. Additional Information Required by Massachusetts Law. Any documentation provided to you, indicating an
electronic transfer was made to another person, is admissible as evidence of the transfer and constitutes prima facie
proof the transfer was made. Your initiation of certain electronic transfers from your account will effectively eliminate
your ability to stop payment of the transfer. Unless provided herein, you may not stop payment of electronic
transfers. You should not use electronic access for purchases or services unless you are satisfied you will not
need to stop payment.
In Case of Errors or Questions About Your Electronic Transfers
Telephone us toll free at 1-800-421-0004 / outside the U.S. and Canada 888-781-3634 or write us at First Niagara Bank,
N.A., Attention: Deposit Operations (FTA), P.O. Box 195, Harleysville, PA 19438- 0195, as soon as you can, if you
think your statement is wrong or if you need more information about a transfer listed on the statement.
We must hear from you no later than 60 days after we made available the FIRST statement on which the problem or error
appeared.
(1) Tell us your name and account number.
(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an
error or why you need more information.
24
(3) Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 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 45 days to investigate your complaint or question. If we
decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will
have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or
question in writing and we do not receive it within 10 business days, we may not credit your account.
For errors involving new accounts, point of sale, or foreign-initiated transactions, we may take up to 90 days to investigate
your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount
you think is in error.
We will tell you the results within 3 business days after completing our investigation. If we decide that there was no error,
we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
Dated: October 5, 2015
25
CONSUMER FUNDS AVAILABILITY DISCLOSURE STATEMENT
Your ability to Withdraw Funds
Our policy is to make funds from some of your deposits available to you on the business day we receive your deposit and to make
others funds from your deposits available at a later date. Once the funds are available, you can withdraw them in cash and we
will use them to pay checks that you have written. Information concerning when funds from your deposit will be deemed to be
made and when those funds will be available for your use is detailed below.
DEFINITIONS
•
Business Days – For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and
federal holidays.
•
Day of Deposit - The method by which a deposit is made determines the “Day of Deposit” as follows:
Manned Teller Stations
If you make a deposit at one of our manned teller stations by 2:00 p.m. on a business day we are open, we will consider
that day to be the day of your deposit; while deposits made after 2:00 p.m. may be considered to be made on the next
business day we are open. If a deposit made at a particular teller station will be treated as made on the next business day
we are open, the manned teller station will display a sign indicating so.
Night Depositories
If you make a deposit at one of our night depositories, we will consider that the deposit was made on the next business day
we are open.
Walk-up Box
If you make a deposit at any walk-up box located at one of our banking offices by 2:00 p.m. on a business day we are open,
we will consider that day to be the day of your deposit; while deposits made after 2:00 p.m. or on a day we are not open
will be considered to be made on the next business day we are open.
Automated Teller Machines (ATM) and Mobile Remote Deposit Capture (RDC)
If you make a deposit through Mobile RDC or at an ATM facility located at one of our banking offices by 12:00 noon on a
business day we are open, we will consider that day to be the day of your deposit, while deposits made after 12:00 noon or
on a day we are not open will be considered to be made on the next business day we are open.
•
Established Accounts – Accounts with us that have been opened for thirty or more days.
•
New Accounts – Accounts with us that have been opened fewer than thirty days.
AVAILABILITY TIMELINE FOR DEPOSITS TO ESTABLISHED ACCOUNTS
Availability of funds from your deposits varies depending on the type of deposit and is explained below:
WHEN A DEPOSIT IS MADE BY…
DEPOSITED FUNDS ARE AVAILABLE…
Cash, electronic direct deposits, wire transfers, checks drawn
on First Niagara Bank, and U.S. Treasury checks that are
payable to you
On the business Day of Deposit.
Federal Reserve Bank checks, Federal Home Loan Bank checks,
U.S. postal money orders that are payable to you
The first business day after the Day of Deposit.
State and local government checks, cashier’s checks, certified
checks, and teller checks that are payable to you
The first business day after the Day of Deposit.
Checks drawn on other U.S. financial institutions
The first business day after the Day of Deposit.
First Niagara Bank, N.A.
26
October - 2013
CONSUMER FUNDS AVAILABILITY DISCLOSURE STATEMENT
Longer Time Periods May Apply
If you will need the funds from a deposit right away, you should ask us when the funds will be available.
In some cases, we will not make all of the funds that you deposit by check available to you at the times shown above. Depending on
the type of check that you deposit, funds may not be available until the fifth business day after the Day of Deposit. However, the
first $200 of your deposits will be available on the first business day after the Day of Deposit.
Funds you deposit by check may be delayed for a longer period than the times shown above under the following circumstances:
• We believe a check you deposit will not be paid.
• You deposit checks totaling more than $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency, such as failure of communications or computer equipment.
We will notify you 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 Deposit.
AVAILABILITY TIMELINE FOR DEPOSITS TO NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
WHEN A DEPOSIT IS MADE BY…
DEPOSITED FUNDS ARE AVAILABLE…
Cash, electronic direct deposits, wire transfers, checks drawn on
First Niagara Bank and U.S. Treasury checks
On the business Day of Deposit. †
Federal Reserve Bank checks, Federal Home Loan Bank checks,
and U.S. postal money orders
The first business day after the Day of Deposit.
State and local government checks, cashier’s checks, certified
checks, and teller checks that are payable to you
The first $5,000 is available on the first business day after the
Day of Deposit.
Any remainder over $5,000 is available no later than the seventh
business day after the Day of Deposit.
No later than the seventh business day after the Day of Deposit.
Checks drawn on other U.S. financial institutions
† Except for any deposits on the day of account opening, these funds would be available the first business day after the day of deposit.
HOLDS ON OTHER FUNDS
Check Cashing
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that
are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if
you had deposited it. For example, if we cash a $100 local check for you, $100 of funds already in your account will not be available
until the first business day after the Day of Deposit.
Other Accounts
If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal
immediately but delay your ability to withdraw a corresponding amount of funds that you have on deposit in another account with
us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in
this disclosure for the type of check that you deposited.
First Niagara Bank, N.A.
27
October - 2013
SUBSTITUTE CHECK POLICY DISCLOSURE
IMPORTANT INFORMATION ABOUT YOUR CHECKING ACCOUNT
First Niagara Bank, N.A.
What Is A Substitute Check?
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How Do I Make A Claim For A Refund?
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When May I Expect To Receive A Substitute Check Back
From First Niagara Bank?
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What Are My Rights Regarding Substitute Checks?
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28
Schedule of Personal Account Fees and Transaction Limitations
Bank Service Fees
Personal Checking Accounts
Abandoned Property Escheatment*....................................$35.00
Account History....................................................................$5.00
Account Reconciliation/Research, per hour ......................$25.00
Bank Draft..............................................................................$5.00
Check images printed on paper statement ..........................$4.00
Check Orders ................................................ Varies by check style
Check Protest .....................................................................$25.00
Collection/Transfer of funds to another institution
(including IRA/Keogh closeout) ......................................$25.00
Early Account Closing (Applies if closed within
180 days of account opening) .........................................$25.00
Expedited Debit/ATM Card Delivery Fee ...........................$25.00
Expedited Payments:
Same-Day Bill Pay ............................................................$9.95
Overnight Check ..............................................................$14.95
Foreign Check Handling Charge:
Canadian per item**..........................................................$2.00
All other countries per item**..........................................$20.00
Foreign Currency Purchase ***...........................................$15.00
Foreign Draft Purchase ***.................................................$15.00
Holiday Club Account Early Withdrawal ..............................$3.00
Legal Restraining Notice or Levy......................................$100.00
Money Order ........................................................................$5.00
Notary Fee (non-customers, existing customers
over 10 documents), per document ...................................$2.00
Processing of Negotiable Bond Coupons,
per envelope ....................................................................$10.00
Photocopies of Bank Statements and Documents,
per document ....................................................................$5.00
Returned Deposited Item ...................................................$15.00
Stop Payment Request .......................................................$35.00
Transactions at Non-First Niagara ATMs†:
U.S. & Canada....................................................................$2.50
International ......................................................................$5.00
Wire Transfer/Incoming......................................................$15.00
Wire Transfer/Outgoing......................................................$25.00
Wire Transfer/International****........................................$40.00
Writs of execution (plus legal fees) .................................$100.00
All other legal papers .......................................................$100.00
Overdraft Fees
Insufficient or unavailable funds ........................................$37.00
Fees are limited to 5 per day, or ....................................$185.00
Continuous Overdraft (Charged after the account
is overdrawn for 7 continuous days) ...............................$35.00
Overdraft Protection Sweep*****..........................................$10.00
StudentFirst Checking
Inactive Fee***** – If a personal checking account is inactive
(no debit or credit activity) for more than six months, and
the balance is $500 or less, for each month the account
remains inactive, the account will be charged a fee of ......$12.00
*Not applicable in CT
**Also subject to First Niagara foreign currency exchange rate
***Does not include shipping charges
**** May also be subject to Intermediary bank charges and/or
applicable currency conversion fees/rates.
***** Waived for PinnaclePlus Checking Customers
†A
TM Surcharges: When you use an ATM not owned by us to make a
transaction, you may also be charged fees by the operator or owner of
the ATM or the network used for the transaction. This fee is referred to
as a surcharge, and you may be responsible for it.
†† INVESTMENTS AND INSURANCE: Are not deposits
• Are not FDIC-insured • Are not insured by any Federal Government
Agency • Are not guaranteed by the Bank • May go down in value
International Currency Conversion
First Niagara Bank, N.A. will assess a 3% international currency conversion
fee on the U.S. dollar amount of any purchases made with your Debit
MasterCard® or ATM Card, whether the terminal used to process the
transaction was outside of the 50 United States or the transaction was
made in another currency and converted to U.S. dollars by MasterCard.
Safe Deposit Boxes
Safe Deposit Box Rental ..................................................................Varies by Size
Safe Deposit Box Drilling ...........................................................................$100.00
Replace Lost Key (per key) ...........................................................................$10.00
Delinquent Rental Payment, per month ........................................................$5.00
Fees are subject to change at any time. We reserve the right to enforce or
to delay a charge under this schedule without losing the right to assess the
change in the future.
Effective
10. 4. 2015
Monthly charge for servicing account ……………………………………………….…......................................................$0.00
First 5 checks that clear each statement cycle at no charge; Charge per cleared check thereafter: ...................................................$0.50
Electronic Statements, including check images: ............................................................................................................................$0.00
Paper Statements (Check Images not included):............................................................................................................................ $5.00
Transactions at U.S./Canadian Non-First Niagara ATMs†: .....................................................................................................................$0.00
Up to 5 rebates of U.S. Non-First Niagara ATM Surcharges† per statement cycle
First Niagara Simple Checking
Monthly Charge for servicing Account (Fee is waived if: (1) customer initiated deposits§ are greater than $0.01): ....................$5.00
Electronic Statements, including check images: ............................................................................................................................$0.00
Paper Statements (Check Images not included):............................................................................................................................ $5.00
Transactions at U.S./Canadian Non-First Niagara ATMs†: ......................................................................................................................$2.50
§
”Customer Initiated” deposits exclude: Interest Deposits, Overdraft Sweep/Transfers, Bonus Payments and Error Corrections
Choice Checking
Monthly
Charge for servicing Account (Fee is waived if: (1) daily balance does not fall below $300; OR (2) a direct deposit is received; OR
(3) combined current statement cycle average daily balance of deposit accounts and current principal loan balances (excluding mortgage &
credit cards) exceeds $5,000; OR (4) 10 or more point-of-sale purchase transactions are completed during the statement cycle) .........................$9.95
Transactions at U.S./Canadian Non-First Niagara ATMs† (First 2 are waived each statement cycle) .............................................$2.50
Pinnacle Checking
onthly Charge for servicing Account (Fee is waived if: (1) daily balance does not fall below $1000; OR (2) combined current
M
statement cycle average daily balance of deposit accounts and current principle loan balances (excluding mortgages) and investment††
balances exceeds $25,000 :...........................................................................................................................................................$15.00
Check images printed on paper statements: ................................................................................................................................. $0.00
Transactions at U.S./Canadian Non-First Niagara ATMs†: .........................................................................................................$0.00
Unlimited rebates of U.S. Non-First Niagara ATM Surcharges† per statement cycle
PinnaclePlus Checking
onthly Charge for servicing Account (Fee is waived if: (1) daily balance does not fall below $5000; OR (2) combined current
M
statement cycle average daily balance of deposit accounts and current principal loan balances (excluding mortgages) and investment††
balances exceeds $50,000: ...........................................................................................................................................................$25.00
Check images printed on paper statements: ................................................................................................................................. $0.00
Transactions at U.S./Canadian Non-First Niagara ATMs†: .............................................................................................................$0.00
Unlimited rebates of U.S. Non-First Niagara ATM Surcharges† per statement cycle
Personal Savings Accounts
First Niagara Companion Savings
onthly charge for servicing Account (Fee is waived if: current statement cycle average daily balance is $400 or more; OR direct deposits
M
received are $25 or more per month; OR a consumer checking relatioship is maintained with current statement cycle average daily balance
of $1.00 or more per month) ...................................................................................................................................................................................$4.00
Pinnacle Money Market
Monthly charge for servicing account if average daily balance falls below $5,000 ...................................................................$25.00
PinnaclePlus Money Market
Monthly charge for servicing account if average daily balance falls below $5,000 .....................................................................$5.00
Optimal IRA
Monthly charge for servicing account ............................................................................................................................................$0.00
Health Savings Account
Monthly charge for servicing account if average daily combined balance in qualifying account(s) falls below $2,500 (qualifying
accounts include all personal checking and savings products held at First Niagara Bank, N.A., excluding Certificate of Deposit) ...........$5.00
Application Fee due at time of account opening ............................................................................................................................$25.00
18/65 Accounts (Available in Massachusetts only for customers age 18 or under or age 65 or over.)
Exempt 18/65 Savings and Free 18/65 Checking
Monthly charge for servicing account .........................................................................................................................................$0.00
Bank Draft, Money Orders, Wire Transfers, Check Certification .................................................................................................$0.00
Unlimited orders of select style checks (or 50% discount on others) ...............................................................................................$0.00
Returned deposit item ....................................................................................................................................................................$5.15
Stop payment request ....................................................................................................................................................................$0.00
Early Account Closing ....................................................................................................................................................................$0.00
Insufficient Funds, if not paid ..........................................................................................................................................................$5.00
Unavailable Funds , if paid ...............................................................................................................................................................$0.00
Check images printed on statement ................................................................................................................................................$0.00
Transaction Limitations
Dollar Limitations
For Savings Accounts and Money Market Deposit Accounts, the depositor is
permitted to make no more than six (6) transfers per monthly statement cycle
to another account of the depositor at First Niagara Bank, N.A. or to a third
party by means of a pre-authorized or automatic transfer, or telephone or
internet agreement, order or instruction, or by check, draft or similar order
made payable to third parties or by using a First Niagara debit card
(ATM Card or Debit MasterCard®) to purchase goods and services.
The following dollar limitations apply to transactions made at
ATMs and point of banking (POB) locations using a First Niagara
electronic banking card (Debit MasterCard® or ATM Card):
Maximum Cash Withdrawal Debit Card ...........................................$800.00/day
Maximum Cash Withdrawal ATM Card ............................................$500.00/day
A “pre-authorized transfer” includes any arrangement by First Niagara Bank,
N.A. to pay a third party from the account of a depositor upon written or oral
instruction (including an ACH or internet transfer), at a predetermined time,
or on a fixed schedule. A $15.00 service charge will be assessed for each
transfer or cleared item in excess of these limits. Pursuant to federal banking
regulations, depositors who continue to exceed these limits may lose the
transfer and check-writing features of their account.
Maximum purchase amount at POS locations using a
First Niagara Debit MasterCard® .....................................................$5,000/day
Maximum Purchase amount at direct-debit point of sale (POS)
locations using a First Niagara ATM card ..........................................$500/day
Consumer Disclosure Booklet
Effective October 8, 2016
TABLE OF CONTENTS
Checking...................................................................................................................................................................................................................................................................4
Overdraft Services, Processing Policies, Dispute Resolution, and Other Charges for Checking Accounts.....................................................................................................................10
Savings...................................................................................................................................................................................................................................................................12
Certificate of Deposit Accounts ...............................................................................................................................................................................................................................15
Other Charges for Savings, Money Market Savings and Certificate of Deposit Accounts.............................................................................................................................................16
Other Information (safe deposit boxes, ATM or Debit Card, Online and Digital Banking)..............................................................................................................................................17
Deposit Account Information................................................................................................................................................................................................................................... 20
KeyBank Agreements, Disclosures and Terms and Conditions
Deposit Account Agreement and Funds Availability Policy...................................................................................................................................................................... 21
Disclosure Statement and Terms and Conditions for Electronic Fund Transfer Transactions and
KeyBank Rewards Program Terms and Conditions..................................................................................................................................................................................31
Terms and Conditions for Adding Your Card to a Digital Wallet............................................................................................................................................................... 40
KeyBank Hassle-Free Account Authorized Minor Use Supplemental Agreement.......................................................................................................................................41
Key Student Checking Account Supplemental Agreement...................................................................................................................................................................... 42
Key Privilege Account Agreement......................................................................................................................................................................................................... 43
Health Savings Account Disclosure....................................................................................................................................................................................................... 44
HSA – Health Savings Account Custodial Agreement..............................................................................................................................................................................47
Disclosure Statement and Terms and Conditions for KeyBank’s Health Savings Account Card..................................................................................................................51
KeyBank Overdraft Services................................................................................................................................................................................................................. 54
Safe Deposit Box Agreement................................................................................................................................................................................................................ 55
Personal Savings Overdraft Protection Agreement................................................................................................................................................................................. 57
Online Banking Service Agreement and Disclosure................................................................................................................................................................................ 58
3
WC-D
YOUR ACCOUNTS
Your account will be converted to a KeyBank Hassle-Free Account. The fees and
charges listed below will replace your current account fees and charges. See page 10
for information pertaining to Overdraft Services, Processing Policies, Dispute
Resolution and Other Charges that may apply as incurred.
As you make the transition from First Niagara to KeyBank, we want to be sure that we
provide you with as much information as possible. The following information contains
important details and disclosures about your new deposit account or credit card with
KeyBank.
IMPORTANT NOTE: There are no check writing privileges associated with the
KeyBank Hassle-Free Account. You cannot order paper checks for this Account.
If you have checks for your Merit Checking account, be aware that if a check
is presented for payment on or after October 8, 2016, it will not be paid and
will be returned to the maker even if there are sufficient funds in the account.
Withdrawals can be made through an ATM, ACH, Key Bill Pay service, debit
card, wire transfer or at a branch.
Important information about procedures for opening accounts at KeyBank
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 customer who opens an account. Therefore, all new and existing customers
are subject to the identity verification requirements. When a customer opens an account
with any entity within the KeyCorp family of companies, we will ask for the customer’s
name, address and identification number, and in the case of an individual, his or her
date of birth. For business accounts, we may also obtain this information for individuals
associated with the business. We may also request to see a valid driver’s license or other
approved identifying documents. In all cases, Key is committed to protecting the privacy
and identity of each of its customers.
The Account is available to anyone age 18 or older. The adult Account owner may request
that a minor (age 13 through 17) receive a debit card for access to this Account. The adult
Account owner will also be required to sign a KeyBank Hassle-Free Account Authorized
Minor User Supplemental Agreement.
KeyBank Hassle-Free Account
FDIC coverage
Account Features and Usage
Your deposits will continue to be FDIC-insured up to the maximum amount allowable by
law. If you maintain accounts at both First Niagara and KeyBank NA, please be advised of
the following FDIC rules: When two or more insured banks merge, the deposits from the
assumed bank continue to be insured separately for at least six months.
Monthly
Maintenance
Service Charge
$0.00
There is no Monthly Maintenance Service Charge.
Paper Statement
Charge
$0.00
To receive your statement on paper or electronically.
Certificates of Deposit (CDs) that are assumed are separately insured until the earliest
maturity date after the end of the six-month grace period. CDs that mature during the
six-month period and are renewed for the same term and same dollar amount (either
with or without accrued interest) continue to be separately insured until the first maturity
date after the six-month period. If a CD matures during the six-month grace period and is
renewed on any other basis, it will be separately insured only until the end of the six-month
grace period.
Pays Interest
No
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for Electronic Fund Transfer Transactions for additional
information.
Please visit www.fdic.gov for additional information regarding FDIC insurance.
ATM Fees
NEW BANK, NEW PRODUCT NAME
$0.00
$2.50
$5.00
On October 8, 2016, your First Niagara account(s) will become a KeyBank account.
Based on the type of account you currently have with First Niagara, we have selected
a comparable KeyBank account type (“product”). Our products are similar but not
identical so please review this section carefully. If you are unsure of the type of
account you currently have, please refer to your First Niagara account statement.
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S.
Each time you use an ATM outside the U.S.
This fee is in addition to any fees that may be
imposed separately by the ATM owner/operator.
Checking and Savings Account fees and service charges
There may be some changes to the terms and conditions of your deposit accounts. Some
fees, charges and balance requirements may decrease, while others may stay the same,
increase or be new. For all consumer checking and savings accounts, the Monthly
Maintenance Service Charge, Paper Statement Charge, and the Inactive
Account Fee will be waived through September 30, 2017. We are waiving these
fees through September 30, 2017 so you have time to use your account, understand how
it works, and work with a personal banker to discover other account options at KeyBank.
We have highlighted how each account works and included any fees, service charges,
balance requirements as well as changes to the terms and conditions and important
provisions of the Deposit Account Agreement and Funds Availability Policy.
Foreign Transaction
Fee
3% of
Fee for using your KeyBank or First Niagara Debit
transaction Card in a foreign country. 3% of the transaction
amount amount; such transactions include, without
limitation, cash advances, ATM withdrawals,
and purchases of goods and services.
ATM-only Card Fee
$1.00 per
monthly
period
ATM Mini
Statement Fee
CHECKING ACCOUNTS
$1.50
Card Replacement
Fee
$5.00 per
card
Debit Card Rush
Fee
$25.00 per
card
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
Per ATM Mini Statement requested at an ATM.
All Account holders
Key Student Checking Account®
For account holders who opened a First Niagara checking account on or before
May 31, 2016, an analysis was completed based on account attributes and the customers
total banking relationship to determine a best fit KeyBank checking account for each
account. These account holders will be notified in the enclosed Welcome Letter as to the
specific checking product their account will convert to at KeyBank and which of the new
account disclosures below will apply. If an account holder changes their checking product
at First Niagara on or after June 1, 2016, they will be converted in the same manner as
new accounts opened on or after June 1st to the KeyBank checking product listed below
and the new account disclosures below will apply.
The Key Student Checking Account disclosures below will apply if your Welcome Letter
states your account will convert to a Key Student Checking Account. OR
Account holders who opened or changed to a StudentFirst Checking account on or
after June 1, 2016 will convert to a Key Student Checking Account and the disclosures
below will apply.
Your account will be converted to a Key Student Checking Account® if your account
was opened on or before May 31, 2016 and as of October 31, 2016, the primary account
owner’s age is less than 24 years AND your account will have been open for less than 4
years. The fees, charges and minimum balance requirements listed below will replace
your current account fees, charges and minimum balance requirements. See page 10
for information pertaining to Overdraft Services, Processing Policies, Dispute
Resolution and Other Charges that may apply as incurred.
KeyBank Hassle-Free Account®
The KeyBank Hassle-Fee Account disclosures below will apply if your Welcome Letter
states your account will convert to a KeyBank Hassle-Free Account.
OR
Account holders who opened or changed to a Merit Checking account on or after
June 1, 2016 will convert to a KeyBank Hassle-Free Account and the disclosures below
will apply.
This Account will convert to Key’s basic banking account (currently Key Express Checking)
one statement period following the student’s 24th birthday or a maximum of four years
from the account opening date, whichever comes later and all of the service charges
related to Key’s basic banking account available at that time will then apply.
4
WC-D
Key Student Checking Account
Please Note: Your account will require some changes at First Niagara prior
to conversion weekend. Your StudentFirst Checking Account will be converted
to a First Niagara Simple Checking account on October 3, 2016. Rest assured
as you will continue to get the same benefits of your current StudentFirst
Checking account through October 7, 2016 even though your statement will
say First Niagara Simple Checking. If applicable; interest earned through
October 2, 2016 will be posted to your account on October 7, 2016 and will be
reflected on your final First Niagara Statement(s). Interest earned from October
3, 2016 through October 7, 2016 will be credited to your Key Express Checking
Account on October 11, 2016. Employee PinnaclePlus Checking
Account Features and Usage
Monthly
Maintenance
Service Charge
$5.00
Waived through 9/30/17. After 9/30/17, the
Monthly Maintenance Service Charge is waived
when you do one of the following each statement
period:
• Have deposits totaling $200.00 or more
• Have at least 5 transactions you initiate (including
deposits, withdrawals and transfers) on this
Account
Paper Statement
Charge
$3.00
Waived through 9/30/17. After 9/30/17, $3.00 per
monthly statement cycle to receive your Account
statement on paper. There is no charge to receive
your statement electronically.
Charge for Checks
Varies
Pays Interest
No
Your account will be converted to a Key Express Checking Account, which is our basic
banking account. The fees, charges and minimum balance requirements listed below
will replace your current account fees, charges and minimum balance requirements. If
you have a Free Checking 18/65 account, KeyBank will not continue to offer this type
of program and printed checks will no longer be available for no charge. See page 10
for information pertaining to Overdraft Services, Processing Policies, Dispute
Resolution and Other Charges that may apply as incurred.
Charge varies based on type of checks ordered.
This Account is not interest bearing.
Key Express Checking Account
Key Student Checking account holders with a debit card will receive a refund of the first 2
ATM surcharges, up to $6.00 per month, of other bank’s ATM cash withdrawal surcharges
when the withdrawals are made with any KeyBank or First Niagara Debit MasterCard. The
surcharge refund will be credited monthly to your Key Student Checking Account and
will be reflected on your Account statement. If you close your Account, you will not be
refunded for other bank’s surcharges assessed for cash withdrawal(s) you made at other
bank’s ATMs during the period between your last Account statement cycle date and your
Account closing date.
Account Features and Usage
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for Electronic Fund Transfer Transactions for additional
information.
ATM Fees
$0.00
$0.00
$0.00
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S.
Each time you use an ATM outside the U.S.
This fee is in addition to any fees that may be
imposed separately by the ATM owner/operator.
Foreign Transaction
Fee
3% of
Fee for using your KeyBank or First Niagara Debit
transaction Card in a foreign country. 3% of the transaction
amount amount; such transactions include, without
limitation, cash advances, ATM withdrawals,
and purchases of goods and services.
ATM-only Card Fee
$1.00 per
monthly
period
ATM Mini
Statement Fee
$1.50
Card Replacement
Fee
$5.00 per
card
Debit Card Rush
Fee
$25.00 per
card
Monthly
Maintenance
Service Charge
$7.00
Waived through 9/30/17. After 9/30/17, the
Monthly Maintenance Service Charge is waived
when you do one of the following each statement
period:
• Have deposits totaling $500.00 or more
• Have at least 8 transactions you initiate
(including deposits, withdrawals and transfers)
on this Account
Paper Statement
Charge
$3.00
Waived through 9/30/17. After 9/30/17, $3.00 per
monthly statement cycle to receive your Account
statement on paper. There is no charge to receive
your statement electronically.
Charge for Checks
Varies
Charge varies based on type of checks ordered.
Pays Interest
No
This Account is not interest bearing.
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for Electronic Fund Transfer Transactions for additional
information.
ATM Fees
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
$0.00
$2.50
$5.00
Per ATM Mini Statement requested at an ATM.
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S. For accounts opened/domiciled in branches
located in MA or PA, up to two ATM fees within
U.S. are waived per monthly statement cycle.
Each time you use an ATM outside the U.S.
These fees are in addition to any fees that may be
imposed separately by the ATM owner/operator.
Foreign Transaction
3% of
Fee for using your KeyBank or First Niagara Debit
Fee
transaction Card in a foreign country. 3% of the transaction
amount amount; such transactions include, without
limitation, cash advances, ATM withdrawals,
and purchases of goods and services.
ATM-only
Card Fee
Key Express Checking Account®
The Key Express Checking Account disclosures below will apply if your Welcome Letter
states your account will convert to a Key Express Checking Account. ATM Mini
Statement Fee
OR
Card Replacement
Fee
Account holders who opened or changed to any of the following accounts on or after
June 1, 2016 will convert to a Key Express Checking Account and the disclosures below
will apply.
Choice Checking
First Niagara Simple Checking
Free Checking 18/65
StudentFirst Checking – If your StudentFirst Checking account is open on or
before May 31, 2016 and as of October 31, 2016, the primary account owner’s
age is 24 years or older OR your account will have been open for 4 years or more
on October 31, 2016, your account will be converted to a Key Express Checking
Account which is a non-interest bearing account.
Debit Card
Rush Fee
$1.00 per
monthly
period
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
$1.50
Per ATM Mini Statement requested at an ATM.
$5.00 per
card
$25.00
per card
Key Advantage Money Market Checking Account®
The Key Advantage Money Market Checking Account disclosures below will apply if
your Welcome Letter states your account will convert to a Key Advantage Money Market
Checking Account. OR
Account holders who opened or changed to a Pinnacle Checking account on or after
June 1, 2016 will convert to a Key Advantage Money Market Checking Account and the
disclosures below will apply.
5
WC-D
Your account will be converted to a Key Advantage Money Market Checking
Account®. The fees, charges and minimum balance requirements listed below will
replace your current account fees, charges and minimum balance requirements. If you
have a Free Checking 18/65 account, KeyBank will not continue to offer this type of
program and printed checks will no longer be available for no charge. See page 10 for
information pertaining to Overdraft Services, Processing Policies, Dispute
Resolution and Other Charges that may apply as incurred.
As a Key Advantage Money Market Checking Account holder, you will receive a waiver of
non-KeyBank ATM fees and a refund of up to $6.00 per month of other bank’s ATM cash
withdrawal surcharges when the withdrawals are made with a KeyBank or First Niagara
Debit MasterCard. The surcharge refund will be credited monthly to your Key Advantage
Account and will be reflected on your Account statement. If you close your Account, you
will not be refunded for other bank’s surcharges assessed for cash withdrawals you made
at other bank’s ATMs during the period between your last Account statement period date
and your Account closing date. After your Account closing date, you will no longer receive
the surcharge refund or the waiver of non-KeyBank ATM fees. If you open another type
of checking Account, the service charges and balance requirements for that Account will
apply. Standard service charges will also apply for checks, Banking Card transactions,
Travelers Cheques and all other services.
Key Advantage Money Market Checking Account
Account Features and Usage
Monthly
Maintenance
Service Charge
Paper Statement
Charge
Pays Interest
$18.00
$0.00
Yes
Waived through 9/30/17. After 9/30/17, the
Monthly Maintenance Service Charge is waived
when you do one of the following in a statement
period:
• The combined balance in any combination of
KeyBank checking and savings deposit accounts,
certificates of deposit, retirement deposits, Key
Investment Services LLC account and credit
accounts is $10,000.00 or more. (See Combined
Balance Computation Method below.)
• You have a mortgage originated through KeyBank
and you have an ACH automatic payment
deduction plan deducting $500.00 or more
from this Account during a statement period. If
your payment deduction plan is discontinued,
you will be subject to the combined balance
requirements to avoid the monthly Maintenance
Service Charge.
For converted accounts only
• You have direct deposits totaling at least
$1,000.00 or more credited to this Account
during a statement period.
Interest Information
Balance Tiers
Sum of the current end of day balance
for each account type one business
day prior to your Key Advantage Money
Market Checking Account statement
cycle date.
Key Investment Services LLC (KIS) Account**
Investment balances include investment
balances from KIS including the value
of any annuities if they are reflected on
your KIS account statement.
Market value as of three business
days prior to your Key Advantage
+
Money Market Checking Account
statement cycle date.
Auto Loans, RV Loans and Marine Loans
with KeyBank NA; Home Equity Loans, Home
Equity Lines of Credit, Home Improvement
Loans, Key Equity Options, Preferred Credit
Lines, Cash Reserve Credit, KeyBasic Credit
Line, Personal Loans, Mobile Home Loans
and Airplane Loans with KeyBank NA; and
Credit Cards.***
$250,000 - $499,999.99
$10,000 - $24,999.99
$500,000 - $999,999.99
$25,000 - $49,999.99
$1,000,000 and above
This Account pays interest at a variable interest rate and rates may vary based on the
balance in your Account. We may change the interest rate and APY at our discretion and
as often as daily. There are no limits on the amount that the interest rate or APY may
change. The interest rate and APY for this Account may vary based on multiple factors
including, but not limited to: your overall relationship with the bank as defined by other
Accounts you have, the balances in all of your Accounts, Account location, Account
usage and other bank services you use. After September 30, 2017, your Key Advantage
Money Market Checking Account will be eligible for Full Relationship interest rates. To
receive Full Relationship interest rates on this Account, you must have a monthly average
of one client initiated deposit and eight client initiated withdrawals during the three
previous calendar months or since the account opened if the account was opened less
than three months, have a personal savings account (Key Saver, Key4Kids Savings, Gold
Money Market Savings, Silver Money Market Savings, Platinum Money Market Savings,
MajorSaver Money Market Savings, IRA Money Market Savings, regular CD or IRA CD or
a Key Investment Services LLC Account) and a personal credit product (includes all Retail
secured and unsecured loans and lines of credit excluding first mortgages). Examples of
a client initiated deposit include direct deposit, branch, ATM or mobile deposit or ACH
credit and examples of client initiated withdrawals include bill pay transactions, branch
withdrawals, checks, debit card or ACH debit. Your Account will begin to earn interest
at the Full Relationship interest rate during the first full week of the month following the
month you meet these requirements. If you were earning interest at a Full Relationship
interest rate, then fail to meet one of the requirements, your interest rate will revert to the
current variable interest rate in effect at that time during the first full week of the following
month. To find out what the current Full Relationship interest rates and APYs are, contact
your local branch.
The Combined Balance Computation Method is described below:
Combining Method
$100,000 - $249,999.99
$5,000 - $9,999.99
Current Interest Rate information may be obtained by contacting your KeyBank branch or by
calling 1-800-KEY2YOU® (1-800-539-2968); TDD 1-800-KEYTDD1 (1-800-539-8331).
Variable rate of interest. See the “Interest
Information” section below.
Checking, Savings, Time Deposits and
Retirement Deposits
$50,000 - $99,999.99
$2,500 - $4,999.99
Please note that there could be more than one interest rate balance tier earning interest
at the same interest rate. The applicable Interest Rate applies to the entire balance in
the Account. Rates are guaranteed only to the extent specified in this Personal Checking
Account Fees and Disclosures.
To receive your statement on paper or electronically.
Account Type
$.01 - $2,499.99
The Daily Balance is the balance in your Account each day. We use the Daily Balance
method to compute interest on Accounts. This method applies a daily percentage rate to
the balance in the Account each day. To determine the daily percentage rate, we divide the
interest rate by the actual number of days in the year. Interest begins to accrue on noncash items, like checks, presented to us no later than the business day we receive credit
for the deposit. Interest is compounded daily and credited to your Account monthly. If you
close your Account after the tenth business day, interest accrued up to, but not including,
the day of withdrawal will be paid at closing.
Sum of the outstanding consumer
loan/line of credit balances
(balances past due 60 days or more
will be excluded) as of no more than
+
five business days prior to your Key
Advantage Money Market Checking
Account statement cycle date.
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for Electronic Fund Transfer Transactions for additional
information.
**Investment products are offered through Key Investment Services LLC (KIS), member
FINRA/SIPC. Insurance products are offered through KeyCorp Insurance Agency USA,
Inc. (KIA). KIS and KIA are affiliated with KeyBank National Association (KeyBank).
Investment and insurance products made available through KIS and KIA are:
ATM Fees
NOT FDIC INSURED * NOT BANK GUARANTEED * MAY LOSE VALUE * NOT A
DEPOSIT * NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
$0.00
$0.00
$0.00
KIS, KIA and KeyBank are separate entities, and when you buy or sell securities and
insurance products you are doing business with KIS and/or KIA, and not KeyBank.
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S.
Each time you use an ATM outside the U.S.
This fee is in addition to any fees that may be
imposed separately by the ATM owner/operator.
***Certain non-standard loans and lines of credit may not be included.
6
WC-D
The Combined Balance Computation Method is described below:
Foreign Transaction
3% of
Fee for using your KeyBank or First Niagara Debit
Fee
transaction Card in a foreign country. 3% of the transaction
amount amount; such transactions include, without
limitation, cash advances, ATM withdrawals,
and purchases of goods and services.
ATM-only Card Fee
ATM Mini
Statement Fee
Card Replacement
Fee
Debit Card Rush
Fee
$1.00 per
monthly
period
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
$1.50
Per ATM Mini Statement requested at an ATM.
Key Investment Services LLC (KIS) Account**
Investment balances include investment
balances from KIS including the value
of any annuities if they are reflected on
your KIS account statement.
+
Auto Loans, RV Loans and Marine Loans
with KeyBank NA; Home Equity Loans, Home
Equity Lines of Credit, Home Improvement
Loans, Key Equity Options, Preferred Credit
Lines, Cash Reserve Credit, KeyBasic Credit
Line, Personal Loans, Mobile Home Loans
and Airplane Loans with KeyBank NA; and
Credit Cards.***
OR
Account holders who opened or changed to a PinnaclePlus Checking account on or
after June 1, 2016 will convert to a Key Privilege Money Market Checking Account and the
disclosures below will apply.
KIS, KIA and KeyBank are separate entities, and when you buy or sell securities and
insurance products you are doing business with KIS and/or KIA, and not KeyBank.
The Key Privilege Checking Account is a non-interest bearing checking account with an
automatic transfer feature to sweep all available funds in your checking account to the
Key Privilege Insured Investment Account. Your account is also subject to other terms and
conditions contained in the enclosed “Key Privilege Checking Account Agreement”.
***Certain non-standard loans and lines of credit may not be included.
As a Key Privilege Checking Account holder, you will not be charged a fee by KeyBank for
using another bank’s ATM and you will receive a refund of up to $6.00 per month of other
bank’s ATM cash withdrawal surcharges when the withdrawals are made with a KeyBank
or First Niagara Debit MasterCard. The surcharge refund will be credited monthly to your
Key Privilege Checking Account and will be reflected on your Account statement. If you
close your Account, you will not be refunded for other bank’s surcharges assessed for
cash withdrawals you made at other bank’s ATMs during the period between your last
Account statement cycle date and your Account closing date. After your Account closing
date, you will no longer receive the surcharge refund or the waiver of non-KeyBank ATM
fees. If you open another type of checking Account, the service charges and balance
requirements for that Account will apply. Standard service charges will also apply for
checks, Banking Card transactions, Travelers Cheques and all other services.
Key Privilege Insured Investment Account
The Key Privilege Insured Investment Account is a sweep investment option for the Key
Privilege Checking Account. This Account pays a variable rate of interest as described
in the “Interest Information” section. There is no minimum deposit required to open
the Account or monthly Maintenance Service or Transaction Charges assessed on this
Account. You cannot write negotiable orders of withdrawal on this Account. This Account
may be accessed via sweep only.
Key Privilege Money Market Checking Account
Interest Information for Key Privilege Insured Investment Account
Account Features and Usage
$0.00
Yes
Sum of the outstanding consumer
loan/line of credit balances
(balances past due 60 days or more
will be excluded) as of no more
+
than five business days prior to your
Key Privilege Checking Account
statement cycle date.
NOT FDIC INSURED * NOT BANK GUARANTEED * MAY LOSE VALUE * NOT A
DEPOSIT * NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
Privilege Checking Account
$25.00
Market value as of three business
days prior to your Key Privilege
Checking Account statement cycle
date.
**Investment products are offered through Key Investment Services LLC (KIS), member
FINRA/SIPC. Insurance products are offered through KeyCorp Insurance Agency USA,
Inc. (KIA). KIS and KIA are affiliated with KeyBank National Association (KeyBank).
Investment and insurance products made available through KIS and KIA are:
Your account will be converted to a Key Privilege Money Market Checking Account.
The fees, charges and minimum balance requirements listed below will replace your
current account fees, charges and minimum balance requirements. See page 10 for
information pertaining to Overdraft Services, Processing Policies, Dispute
Resolution and Other Charges that may apply as incurred.
Pays Interest
Sum of the current end of day balance
for each account type one business
day prior to your Key Privilege Checking
Account statement cycle date.
$25.00
per card
The Key Privilege Money Market Checking Account disclosures below will apply if
your Welcome Letter states your account will convert to a Key Privilege Money Market
Checking Account. Paper Statement
Charge
Combining Method
Checking, Sweep Balances, Savings, Time
Deposits and Retirement Deposits
$5.00 per
card
Key Privilege Money Market Checking Account®
Monthly
Maintenance
Service Charge
Account Type
Waived through 9/30/17. After 9/30/17, the
Monthly Maintenance Service Charge is waived
when you do one of the following in a statement
period:
• You have a mortgage originated through KeyBank
and you have an ACH automatic payment
deduction plan deducting $500.00 or more
from this Account during a statement period. If
your payment deduction plan is discontinued,
you will be subject to the combined balance
requirements to avoid the monthly Maintenance
Service Charge.
• The combined balance in any combination
of KeyBank deposit, investment and credit
Accounts is $25,000.00 or more. (See
Combined Balance Computation Method below.)
For converted accounts only
• You have direct deposits totaling at least
$2,500.00 or more credited to this Account
during a statement period.
Balance Tiers
$.01 - $2,499.99
$50,000 - $99,999.99
$2,500 - $4,999.99
$100,000 - $249,999.99
$5,000 - $9,999.99
$250,000 - $499,999.99
$10,000 - $24,999.99
$500,000 - $999,999.99
$25,000 - $49,999.99
$1,000,000 and above
Please note that there could be more than one interest rate balance tier earning interest
at the same interest rate. The applicable Interest Rate applies to the entire balance in
the Account. Rates are guaranteed only to the extent specified in this Personal Checking
Account Fees and Disclosures.
Current Interest Rate information may be obtained by contacting Key Privilege Client
Services at 1-800-336-4750.
This Account pays interest at a variable interest rate and rates may vary based on the
balance in your Account. We may change the interest rate and APY at our discretion and
as often as daily. There are no limits on the amount that the interest rate or APY may
change. The interest rate and APY for this Account may vary based on multiple factors
including, but not limited to: your overall relationship with the bank as defined by other
Accounts you have, the balances in all of your Accounts, Account location, Account
usage and other bank services you use. After September 30, 2017, your Key Privilege
Money Market Checking Account will be eligible for Full Relationship interest rates. To
receive Full Relationship interest rates on this Account, you must have a monthly average
of one client initiated deposit and eight client initiated withdrawals during the three
To receive your statement on paper or
electronically.
Key Privilege Insured Investment Account pays
a variable rate of interest. See the “Interest
Information” section below.
7
WC-D
Key Privilege Select Money Market Checking Account
previous calendar months or since the account opened if the account was opened less
than three months, have a personal savings account (Key Saver, Key4Kids Savings, Gold
Money Market Savings, Silver Money Market Savings, Platinum Money Market Savings,
MajorSaver Money Market Savings, IRA Money Market Savings, regular CD or IRA CD or
a Key Investment Services LLC Account) and a personal credit product (includes all Retail
secured and unsecured loans and lines of credit excluding first mortgages). Examples of
a client initiated deposit include direct deposit, branch, ATM or mobile deposit or ACH
credit and examples of client initiated withdrawals include bill pay transactions, branch
withdrawals, checks, debit card or ACH debit. Your Account will begin to earn interest
at the Full Relationship interest rate during the first full week of the month following the
month you meet these requirements. If you were earning interest at a Full Relationship
interest rate, then fail to meet one of the requirements, your interest rate will revert to the
current variable interest rate in effect at that time during the first full week of the following
month. To find out what the current Full Relationship interest rates and APYs are, contact
your local branch.
Account Features and Usage
The Daily Balance is the balance in your Account each day. We use the Daily Balance
method to compute interest on Accounts. This method applies a daily percentage rate to
the balance in the Account each day. To determine the daily percentage rate, we divide the
interest rate by the actual number of days in the year. Interest begins to accrue on noncash items, like checks, presented to us no later than the business day we receive credit
for the deposit. Interest is compounded daily and credited to your Account monthly. If you
close your Account before interest is credited, interest accrued up to, but not including,
the day of withdrawal will be paid at closing.
$0.00
$0.00
$0.00
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S.
Each time you use an ATM outside the U.S.
This fee is in addition to any fees that may be
imposed separately by the ATM owner/operator.
ATM Mini
Statement Fee
Card Replacement
Fee
Debit Card Rush
Fee
$1.00 per
monthly
period
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
$1.50
Per ATM Mini Statement requested at an ATM.
Waived through 9/30/17. After 9/30/17, the
Monthly Maintenance Service Charge is waived
when you do one of the following in a statement
period:
• A combined balance in any combination of
deposit and investment Accounts is $100,000.00
or more. (See Combined Balance Computation
Method below.)
For converted accounts only
• You have direct deposits totaling at least
$5,000.00 or more credited to this Account
during a statement period.
Paper Statement
Charge
$0.00
To receive your statement on paper or electronically.
Yes
Key Privilege Select Insured Investment Account
pays a variable rate of interest. See the “Interest
Information” section below.
The Combined Balance Computation Method is described below:
Foreign Transaction
3% of
Fee for using your KeyBank or First Niagara Debit
Fee
transaction Card in a foreign country. 3% of the transaction
amount amount; such transactions include, without
limitation, cash advances, ATM withdrawals,
and purchases of goods and services.
ATM-only Card Fee
$50.00
Pays Interest
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for Electronic Fund Transfer Transactions for additional
information.
ATM Fees
Monthly
Maintenance
Service Charge
Account Type
Combining Method
Checking, Sweep Balances, Savings, Time
Deposits and Retirement Deposits
Sum of the current end of day balance
for each account type one business day
prior to your Key Privilege Select Checking Account statement cycle date.
Key Investment Services LLC (KIS) Account**
Investment balances include investment
balances from KIS including the value
of any annuities if they are reflected on
your KIS account statement.
+
Market value as of three business
days prior to your Key Privilege
Select Checking Account statement
cycle date.
**Investment products are offered through Key Investment Services LLC (KIS), member
FINRA/SIPC. Insurance products are offered through KeyCorp Insurance Agency USA,
Inc. (KIA). KIS and KIA are affiliated with KeyBank National Association (KeyBank).
Investment and insurance products made available through KIS and KIA are:
NOT FDIC INSURED * NOT BANK GUARANTEED * MAY LOSE VALUE * NOT A
DEPOSIT * NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
$5.00 per
card
KIS, KIA and KeyBank are separate entities, and when you buy or sell securities and
insurance products you are doing business with KIS and/or KIA, and not KeyBank.
$25.00
per card
Your account will be converted to a Key Privilege Select Money Market Checking
Account. The fees, charges and minimum balance requirements listed below will replace
your current account fees, charges and minimum balance requirements. See page 10
for information pertaining to Overdraft Services, Processing Policies, Dispute
Resolution and Other Charges that may apply as incurred.
As a Key Privilege Select Checking Account holder, you will not be charged a fee by
KeyBank for using another bank’s ATM and you will receive a monthly refund of other
bank’s ATM cash withdrawal surcharges when the withdrawals are made with a KeyBank
or First Niagara Debit MasterCard. The surcharge refund will be credited monthly to your
Key Privilege Select Checking Account and will be reflected on your Account statement.
If you close your Account, you will not be refunded for other bank’s surcharges assessed
for cash withdrawals you made at other bank’s ATMs during the period between your last
Account statement cycle date and your Account closing date. After your Account closing
date, you will no longer receive the surcharge refund or the waiver of non-KeyBank ATM
fees. If you open another type of checking Account, the service charges and balance
requirements for that Account will apply. Standard service charges will also apply for
checks, Banking Card transactions, Travelers Cheques and all other services.
Key Privilege Select Checking Account
Interest Information for Key Privilege Select Insured Investment Account
Key Privilege Select Money Market Checking Account®
The Key Privilege Money Market Checking Account disclosures below will apply if your
Welcome Letter states your account will convert to a Key Privilege Select Money Market
Checking Account. The Key Privilege Select Checking Account is a non-interest bearing checking account
with an automatic transfer feature to sweep all available funds in your checking account to
another investment you select. Your account is also subject to other terms and conditions
contained in the enclosed “Key Privilege Select Checking Account Agreement.”
Balance Tiers
$.01 - $2,499.99
$50,000 - $99,999.99
$2,500 - $4,999.99
$100,000 - $249,999.99
Key Privilege Select Insured Investment Account
$5,000 - $9,999.99
$250,000 - $499,999.99
The Key Privilege Select Insured Investment Account is a sweep investment option for
the Key Privilege Select Checking Account. This Account pays a variable rate of interest
as described in the “Interest Information” section. There is no minimum deposit required
to open the Account or monthly Maintenance Service or Transaction Charges assessed
on this Account. You cannot write negotiable orders of withdrawal on this Account. This
Account may be accessed via sweep only.
$10,000 - $24,999.99
$500,000 - $999,999.99
$25,000 - $49,999.99
$1,000,000 and above
Please note that there could be more than one interest rate balance tier earning interest
at the same interest rate. The applicable Interest Rate applies to the entire balance in
the Account. Rates are guaranteed only to the extent specified in this Personal Checking
Account Fees and Disclosures.
8
WC-D
Account holders with the following accounts:
Current Interest Rate information may be obtained by contacting Key Privilege Client
Services at 1-800-336-4750.
Health Savings Account (checking)
This Account pays interest at a variable interest rate and rates may vary based on the
balance in your Account. We may change the interest rate and APY at our discretion and
as often as daily. There are no limits on the amount that the interest rate or APY may
change. The interest rate and APY for this Account may vary based on multiple factors
including, but not limited to: your overall relationship with the bank as defined by other
Accounts you have, the balances in all of your Accounts, Account location, Account usage
and other bank services you use. After September 30, 2017, your Key Privilege Select
Money Market Checking Account will be eligible for Full Relationship interest rates. To
receive Full Relationship interest rates on this Account, you must have a monthly average
of one client initiated deposit and eight client initiated withdrawals during the three
previous calendar months or since the account opened if the account was opened less
than three months, have a personal savings account (Key Saver, Key4Kids Savings, Gold
Money Market Savings, Silver Money Market Savings, Platinum Money Market Savings,
MajorSaver Money Market Savings, IRA Money Market Savings, regular CD or IRA CD or
a Key Investment Services LLC Account) and a personal credit product (includes all Retail
secured and unsecured loans and lines of credit excluding first mortgages). Examples of
a client initiated deposit include direct deposit, branch, ATM or mobile deposit or ACH
credit and examples of client initiated withdrawals include bill pay transactions, branch
withdrawals, checks, debit card or ACH debit. Your Account will begin to earn interest
at the Full Relationship interest rate during the first full week of the month following the
month you meet these requirements. If you were earning interest at a Full Relationship
interest rate, then fail to meet one of the requirements, your interest rate will revert to the
current variable interest rate in effect at that time during the first full week of the following
month. To find out what the current Full Relationship interest rates and APYs are, contact
your local branch.
Health Savings Account (savings)
Health Savings Account (certificate of deposit)
Health Savings Account Master
Your account will be converted to a Key Health Savings Account (“HSA”) Checking
Account. If you have multiple First Niagara Health Savings Accounts (HSA) whether
they are a savings account, checking account or a certificate of deposit (CD) account,
they will be converted into a single Key Health Savings Account (“HSA”) Checking
Account. Your current HSA savings account number will be your account number going
forward. There will be no disruption to current check and debit card transactions and
future usage. If you currently do not have check access you will be able to order checks at
your local branch or through on-line banking. You can continue to use your current HSA
debit card until you receive a KeyBank HSA debit card.
If you have a First Niagara Health Savings Account in the form of a certificate of deposit,
your HSA CD will convert to a Key HSA Checking Account and be combined with any other
HSA you may own. The interest owed on your HSA CD for the remainder of the term will be
credited in one lump sum to your new Key HSA Checking Account.
You will receive a monthly account statement. The fees, charges and minimum balance
requirements listed below will replace your current account fees, charges and minimum
balance requirements. See page 10 for information pertaining to Overdraft
Services, Processing Policies, Dispute Resolution and Other Charges that may
apply as incurred.
Key Health Savings Account Checking Account
The Daily Balance is the balance in your Account each day. We use the Daily Balance
method to compute interest on Accounts. This method applies a daily percentage rate to
the balance in the Account each day. To determine the daily percentage rate, we divide the
interest rate by the actual number of days in the year. Interest begins to accrue on noncash items, like checks, presented to us no later than the business day we receive credit
for the deposit. Interest is compounded daily and credited to your Account monthly. If you
close your Account before interest is credited, interest accrued up to, but not including,
the day of withdrawal will be paid at closing.
Account Features and Usage
Pays Interest
$0.00
$0.00
$0.00
Foreign Transaction
Fee
ATM-only Card Fee
ATM Mini
Statement Fee
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S.
Each time you use an ATM outside the U.S.
This fee is in addition to any fees that may be
imposed separately by the ATM owner/operator.
HSA Checking
Account specific
fees
3% of
This fee will not be assessed for foreign debit
transaction card transactions made to a Key Privilege Select
amount Money Market Checking Account. Fee for using
your KeyBank or First Niagara Debit Card in a
foreign country. 3% of the transaction amount;
such transactions include, without limitation, cash
advances, ATM withdrawals, and purchases of
goods and services.
$1.00 per
monthly
period
$1.50
Card Replacement
Fee
$5.00 per
card
Debit Card Rush
Fee
$25.00 per
card
Variable rate of interest. See the “Interest
Information” section below.
The table below describes the fees that will be charged to your HSA Checking Account
with and without a Relationship and other Account related fees that may apply. A
Relationship is defined in one of the following ways:
i. You have another KeyBank checking account, or
ii. Your employer has a KeyBank business checking account and has signed the
KeyBank Health Savings Account (HSA) Employer Authorization Form, or
iii. Your employer has provided KeyBank with a signed KeyBank Health Savings
Account Referred Employer Authorization Form
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for Electronic Fund Transfer Transactions for additional
information.
ATM Fees
Yes
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
With Relationship
Without Relationship
Set up fee
Waived
$25.00
Annual Fee
Waived through 9/30/17.
After 9/30/17 the Annual Fee
is waived if one of the above
Relationships exists.
$10.00
Monthly
Waived through 9/30/17.
Maintenance Service After 9/30/17 the monthly
Charge
Maintenance Service Charge
is waived if one of the above
Relationships exists.
Waived through 9/30/17.
After 9/30/17,
$5.00 without direct deposit
and a balance less than
$500.00 or
$2.50 with direct deposit and
a balance less than $500.00
or
The monthly Maintenance
Service Charge is waived
when the balance is $500.00
or greater.
Paper Statement
Charge
$3.00
Waived through 9/30/17.
After 9/30/17, $3.00 per
monthly statement cycle
to receive your Account
statement on paper. There
is no charge to receive your
statement electronically.
Trustee to Trustee
Transfer fee
$25.00 for each transfer
$25.00 for each transfer
Per ATM Mini Statement requested at an ATM.
Key Health Savings Account® (“HSA”) Checking Account
The Key Health Savings Account® (“HSA”) Checking Account disclosures below will apply
if your Welcome Letter states your account will convert to a Key Health Savings Account
(“HSA”) Checking Account. OR
Account holders who opened or changed to one of the following accounts on or after
June 1, 2016 will convert to a Key Health Savings Account® (“HSA”) Checking Account
and the disclosures below will apply.
9
WC-D
Check charge
(physical)
Starter checks free, then
standard charge
Starter checks free, then
standard charge
Return of Mistaken
Distribution
$10.00
$10.00
ATM-only Card Fee
ATM Mini
Statement Fee
Your Key Health Savings Account Checking Account is subject to the terms and conditions
contained in the enclosed Health Savings Account Custodial Agreement and Health
Savings Account Disclosure. If the available balance in your HSA Checking Account is
insufficient to cover authorized payments or transactions (such as a check, debit card
transaction, transfer, ATM withdrawal, bank charge, etc.), KeyBank may return any
payment or reject any transaction. Some payments may cause overdrafts in your HSA
Checking Account. You alone are responsible for avoiding overdrafts in your Account.
$1.00 per
monthly
period
If you only have a KeyBank or First Niagara ATM
Card and if you don’t also have a KeyBank or
First Niagara Debit Card.
$1.50
Per ATM Mini Statement requested at an ATM.
Card Replacement
Fee
$5.00 per
card
Debit Card Rush
Fee
$0.00 per
card
The following sections apply to all KeyBank Checking and Savings Accounts
(including the Hassle-Free Account) as applicable:
An overdraft inside your Key HSA may cause your Key HSA to lose its tax exempt status.
In the event that you incur an overdraft in your HSA Checking Account, we will notify you
of the negative cash balance. You authorize us to liquidate any of your HSA investments (if
applicable), at our discretion, to the extent necessary to bring your balance to a positive
amount. In the event that liquidating these investments is not sufficient to resolve the
negative balance, your HSA plan will cease to be an HSA and will be treated as distributing
all assets on the first day of the year. Tax penalties may also apply and you will be
responsible for any remaining deficiency.
Overdraft Services^
Standard Overdraft
Services1
We MAY choose to pay/process certain items into
overdraft. You may ask us not to pay/process any of
these items into overdraft:
• Checks
• Recurring debit card transactions
• Preauthorized automatic debits
• Telephone initiated transfers
• Electronic transfers and
• Other items as a service to you
We DO NOT authorize and pay the items listed
below into overdraft. However, you may ask us to
pay these items into overdraft:
• Automated Teller Machine (ATM) transactions
• Everyday debit card transactions
If we DO NOT authorize and pay an overdraft, your
transaction will typically be declined.
Interest Information
Balance Tiers
$.01 - $2,499.99
$50,000 - $99,999.99
$2,500 - $4,999.99
$100,000 - $249,999.99
$5,000 - $9,999.99
$250,000 - $499,999.99
$10,000 - $24,999.99
$500,000 - $999,999.99
$25,000 - $49,999.99
$1,000,000 and above
Please note that there could be more than one interest rate balance tier earning interest
at the same interest rate. The applicable Interest Rate applies to the entire balance in
the Account. Rates are guaranteed only to the extent specified in this Personal Checking
Account Fees and Disclosures.
Overdraft Item (OD)
and Return Item
(NSF) Charges
Current Interest Rate information may be obtained by contacting your KeyBank branch or
by calling 1-888-KEY2020 (1-888-539-2020); TTY/TDD 1-800-539-8336.
This Account pays interest at a variable interest rate and rates may vary based on the
balance in your Account. We may change the interest rate and APY at our discretion and
as often as daily. There are no limits on the amount that the interest rate or APY may
change.
$34.00
$38.50
The Daily Balance is the balance in your Account each day. We use the Daily Balance
method to compute interest on Accounts. This method applies a daily percentage rate to
the balance in the Account each day. To determine the daily percentage rate, we divide
the interest rate by the actual number of days in the year. Interest begins to accrue on
non-cash items, like checks, presented to us no later than the business day we receive
credit for the deposit. Interest is compounded daily and credited to your Account monthly
at month end. If you currently have your interest payment transferred to another account
outside of First Niagara, this payment option will be discontinued after conversion and
your interest will be posted to your KeyBank HSA Checking Account.
If you close your Account within ten business days after the last interest payment date, the
accrued but not yet credited interest will not be paid. If you close your Account after the
tenth business day, interest accrued up to, but not including, the day of withdrawal will be
paid at closing.
1
Electronic Fund Transfer Service Fees – See the enclosed Disclosure Statement
of Terms and Conditions for KeyBank’s Health Savings Account Card for additional
information.
ATM Fees
$0.00
$0.00
$0.00
We assess these fees based on the number of
times OD/NSF items have occurred in the current
period plus the previous 11 statement periods.
These fees do not apply to a KeyBank Hassle-Free
Account and the Overdraft Item Charge does not
apply to a Health Savings Account.
1-2
3 and above
Daily OD and NSF
Charge Cap
5
Per account
Monthly OD Charge
Cap
20
If you have more than 20 OD item charges during
your statement period, we will stop paying items
into overdraft for the remainder of the statement
period.
Recurring Overdraft
Service Charge
$28.50
If your Account remains overdrawn for five consecutive business days. This fee does not apply to a
KeyBank Hassle-Free Account or a Health Savings
Account.
Chargeback Fee
$15.00
For each check deposited to your Account that is
returned to us unpaid.
Paying your Account into overdraft is done at KeyBank’s discretion.
^ If you have NOT asked us to pay ATM transactions and everyday debit card transactions
into overdraft, the following information applies to all other types of transactions:
If we pay an item into overdraft during each of four consecutive statement periods, AND
during your next statement period an item is presented that KeyBank pays into overdraft,
the standard overdraft service provided with your Account will be terminated. Items will
no longer be paid into overdraft when you have insufficient funds in your Account. The
standard overdraft service will not be reinstated until the first day after the end of three
consecutive statement periods following the day we terminated the service AND your
Account has a positive available account balance.
Each time you use a KeyBank ATM.
Each time you use another bank’s ATM within the
U.S.
Each time you use an ATM outside the U.S.
This fee is in addition to any fees that may be
imposed separately by the ATM owner/operator.
Foreign Transaction
Fee
Per Item
Charge
3% of
Fee for using your KeyBank or First Niagara Debit
transaction Card in a foreign country. 3% of the transaction
amount amount; such transactions include, without
limitation, cash advances, ATM withdrawals,
and purchases of goods and services.
10
WC-D
Miscellaneous Other Charges
Processing Policies^^
Posting Order:
The order in which
specific deposit
and withdrawal
transaction posting
categories post
within Prior Day
and Current Day
processing groups.
Sort Order for primary posting categories:
We post ATM and debit card transactions based on
authorization date/time; if the authorization date
and time are not available we will use settlement
date and time. We post checks, if applicable, in
check number order. For all other types of items
within each posting category, we will post items
from lowest dollar amount to highest dollar amount.
Deposit Hold
Policy:
When funds
deposited to your
Account become
available
For all personal deposit accounts our policy is
to make funds from cash and check deposits
available on the first business day after the day we
receive the deposit with certain exceptions.
^^Please see the enclosed Deposit Account Agreement and Funds Availability Policy for
details.
Dispute Resolution
Dispute Resolution
Agreement
Please see the enclosed Deposit Account
Agreement and Funds Availability Policy for the
Arbitration Provision which includes important
information concerning your right to reject
arbitration.
Other Service Charges
Charge for Account
Early Close-out
$25.00
For closing your Account within 180 days after
opening
Monthly Inactive
Account Fee
$5.00
Waived through 9/30/17, then –
Your Account (fee does not apply to a KeyBank
Hassle-Free or Health Savings Account) will be
charged and if Account is interest bearing, your
interest rate will be changed to .01% if:
• The Account balance is less than $5,000.00 and
•N
o customer initiated activity for 3 months
This fee is in addition to any other normal account
service charges incurred. A notice will be mailed
prior to your Account being classified as inactive.
You may avoid the inactive classification by:
•M
aking a deposit or withdrawal (includes
recurring ACH transaction activity) or
• S igning and returning the notice
Fedwire Service
Charge
$20.00
$30.00
$45.00
Each Incoming Domestic and International
Each Domestic Outgoing
Each International Outgoing
Repetitive Outgoing
Wire Transfers
Repetitive wire transfers are those in which debit
and credit transfer parties remain the same (date
and dollar amount may be different) and will be
discounted $10.00 from the standard Fedwire
Service Charge prices.
Incoming Wire
Transfer Telephone
Notification Fee
For requests to be notified by phone of incoming
wire transfers, the standard Fedwire Service Charge
will be increased by $5.00.
Paper Statement
Charge
$3.00
Waived through 9/30/17. Applies to Key Express
Checking, Key Student Checking, and Health
Savings Accounts. To receive your Account
statement on paper. This charge is assessed per
monthly statement period. There is no charge to
receive your statement electronically.
Imaged Item(s)
with Statement
Charge
$3.00
To receive a statement containing images of the
front of your checks. This charge is assessed per
monthly statement period.
Charge for Handling
Legal Process
$100.00
Returned
Statement Charge
$10.00
For statements returned to the bank due to an
incorrect address.
Abandoned Account
Escheat Charge
$5.00
Monthly Statement
Information
Safekeeping Fee
$10.00
For each month that follows (months two through
a maximum of 12 consecutive months) where a
current address has not been provided.
Abandoned Account
Notification Charge
Cost of
Certified
Letter
Charge for Each
Additional Copy of
Statement
$6.00
Abandoned Account
Publication Charge
Duplicate
Statement Service
Charge
$10.00
For a duplicate copy of your deposit account
statement. For combined deposit statements only
your primary Account will be assessed the monthly
charge.
Varies
based on
newspaper
charge
Statement Special
Handling Service
Charge
$10.00
For special handling of your deposit account
statement per monthly statement period. For
combined deposit statements only your primary
Account will be assessed the monthly charge.
Stop Payment
Charge
$34.00
For each stop payment or to renew a stop payment
on a check or withdrawal or on multiple checks in
sequence.
Charge for Copy of
Items
11
For digital images of checks held by KeyBank:
No Charge 1-12 per year
$3.00
13 and above per year
For Imaged Items Statement:
$3.00
For each digital image of a check
For processing legal papers if you or your Account
are affected by any litigation.
WC-D
SAVINGS AND MONEY MARKET SAVINGS ACCOUNTS
Monthly Inactive Account Fee
and Interest Reduction
See page 16 for Other Charges that may apply as incurred.
All Savings and Money Market Account Savings customers:
Transaction limitations: Savings and Money Market Savings Accounts are subject to
withdrawal and transfer limitations. There are no restrictions on the number of withdrawals
paid from a Savings or Money Market Savings Account directly to you. However, you may
make only six (6) transfers and/or payments to another Account of yours with us or to
a third party each monthly period. The six (6) transfers and/or payments may be made
by a preauthorized or automatic transfer or telephonic (including data transmission)
agreement, order or instruction or by check (if applicable), draft, debit card, or similar
order payable to third parties. Automatic deductions will be considered paid in the monthly
period they are posted to the Account.
This fee is in addition to any other normal
account service charges incurred. A notice
will be mailed prior to your Account being
classified as inactive.
You may avoid the inactive classification by:
•Making a deposit or withdrawal (includes
recurring ACH transaction activity) or
•Signing and returning the notice
Excess Withdrawal/Transfer Charge: If the number of withdrawals/transfers made
to another KeyBank Account of yours or to a third party by means of a preauthorized
or automatic transfer or telephonic (including data transmission) agreement, order or
instruction, or by check, draft, debit card, or similar order and payable to a third party
exceeds a total of seven (7) per monthly period, your Silver Money Market Savings
Account will be charged $15.00 for each transfer or payment over the limit and
your Key Saver or Key4Kids Savings Account will be charged $5.00 for each
transfer or payment over the limit. This fee is in addition to any other applicable fees
described below.
For account holders with a First Niagara savings account, they will be notified in the
enclosed Welcome Letter as to the specific savings product their account will convert to at
KeyBank and the new account disclosures below will apply.
Electronic Fund Transfer Service
Fees – See also the enclosed
Disclosure of Terms and
Conditions for Electronic
Funds Transfer Transactions
Fee Amount
Foreign (non-KeyBank) ATM Fee
Fee for using a non-KeyBank ATM
$2.50 per transaction within the U.S.
$5.00 per transaction outside the U.S.
Account holders with any of the following accounts:
Passbook Savings
Anytime Club
Relationship Money Market Savings
Do More Savings
Exempt Savings 18/65 (excludes
custodian with minor accounts)
Platinum Savings
Holiday Club Passbook
Companion Savings
Holiday Club Statement Savings
Premium Savings
Statement Savings Account
E Savings
E Savings/Green Savings
CT Landlord Tenant Savings Account
Healthcare Account
Funeral Savings
Waived through 9/30/17. After 9/30/17,
$5.00 – Your Account will be charged the
fee and your interest rate will be changed to
.01% if:
•The Account balance is less than
$5000.00 and
•No customer initiated activity for 12
months
This fee is in addition to any fees that may
be imposed separately by the ATM owner/
operator.
Foreign Transaction Fee
Fee for using your KeyBank or First Niagara
Debit Card in a foreign country. 3% of the
transaction amount; such transactions
include, without limitation, cash advances,
ATM withdrawals, and purchases of goods
and services.
ATM-only Card Fee
$1.00 per monthly period if you only have
a KeyBank or First Niagara ATM Card
and if you don’t also have a KeyBank or
First Niagara Debit Card.
Your account will be converted to a Key Saver Account. This is a statement savings
account. You will receive your statement quarterly. You cannot write checks on this
account. If you have an Exempt Savings 18/65 account or an Exempt Savings 18/65
custodian minor account listed below, KeyBank will not continue to offer this type of
program. If you have a CT Landlord Tenant Savings Account, the Key Saver Account is
not a Connecticut Landlord Tenant Savings Account (escrow account) and the Key Saver
account is a variable interest rate account. As such KeyBank reserves the right to change
the interest rate at any time without notice.
ATM Mini Statement Fee
$1.50 per ATM Mini Statement requested
at an ATM.
Interest
Interest rates are variable. We may
change the interest rate and annual
percentage yield at our discretion and as
often as daily.
Balance used to compute interest
Daily Ending Balance
These fees, charges, minimum balance requirements and interest rate balance tiers listed
below replace your current account fees, charges, minimum balance requirements and
interest rate balance tiers.
Balance required to earn interest
$.01
Interest compounding and payment
frequency
Daily, credited to the account monthly. If
Account is closed within ten (10) business
days after the last interest payment date,
accrued but not yet credited interest will not
be paid. If Account is closed after the tenth
business day, interest accrued up to, but not
including, the day of withdrawal will be paid
at closing.
Interest Rate Tiers
We reserve the right to assign the same
interest rate to more than one balance tier at
any one time.
Balance ranges
$.01 - $2,499.99
Escrow Savings
Fee/Balance Requirements
Amount
Monthly Maintenance Service Charge
Waived through 9/30/17. After 9/30/17,
$4.00 per monthly period.
Way to avoid monthly Maintenance
Service Charge
Maintain a daily account balance of at least
$300 in your account each day during the
monthly period.
In-person Check(s)/Withdrawal(s) Paid $1.00 per check/withdrawal paid at a Branch
Charge
in excess of 4 per monthly period.
Paper Statement Charge
$2,500 - $4,999.99
$5,000 - $9,999.99
Waived through 9/30/17. After 9/30/17,
$3.00 per quarterly statement period to
receive your Account statement on paper.
There is no charge to receive your statement
electronically.
$10,000 - $24,999.99
$25,000 - $49,999.99
$50,000 - $99,999.99
$100,000 - $249,999.99
$250,000 - $499,999.99
$500,000 - $999, 999.99
$1,000,000 and above
12
WC-D
PASSBOOK ACCOUNTS
If you have a Passbook Savings Account, a Holiday Club Passbook Account or any First
Niagara account listed above with a passbook, your account will convert to a Key Saver
Account, which is a statement savings account. Your account will no longer be considered
a passbook account. Retain your passbook for your records with your other important
documents. First Niagara will provide a statement reflecting all activity that occurred since
your passbook was last updated through October 7, 2016.
Starting on October 8, 2016, it will no longer be necessary to bring your passbook with
you for transactions made at a KeyBank branch. The branch will not update a passbook.
All transactions including credited interest will appear on your statement. You will receive
a quarterly statement. If you make any type of electronic funds transaction during the first
or second month of your quarterly statement period, an interim statement for that month
will be provided.
Interest
Interest rates are variable. We may
change the interest rate and annual
percentage yield at our discretion and as
often as daily.
Balance used to compute interest
Daily Ending Balance
Balance required to earn interest
$.01
Interest compounding and payment
frequency
Daily, credited to the account monthly.
If Account is closed within ten (10 )
business days after the last interest
payment date, accrued but not yet
credited interest will not be paid.
If Account is closed after the tenth
business day, interest accrued up to, but
not including, the day of withdrawal will
be paid at closing.
Interest Rate Tiers
We reserve the right to assign the same
interest rate to more than one balance
tier at any one time.
Balance ranges
$.01 - $2,499.99
CLUB ACCOUNTS
If you have a Holiday Club Passbook, Holiday Club Statement Savings, Anytime Club or
any First Niagara Club Account, your account will convert to a Key Saver Account which
is a statement savings account. Your account will no longer be considered a club account
and you will no longer receive a payout of the balance in the account in October or on your
scheduled payout date. You will be able to make deposits to and withdrawals from the
account at any time.
$2,500 - $4,999.99
Account holders with any of the following accounts:
Exempt Savings 18/65 (custodian with minor under age 18 accounts)
Youth Savings (passbook accounts)
Youth Savings Account (statement savings accounts)
School Savings Account
Student Savers
$5,000 - $9,999.99
Your account will be converted to a Key4Kids® Savings Account. This is a statement
savings account. You cannot write checks on this account. The Key4Kids Savings Account
converts to a Key Saver Account when the minor reaches eighteen and all of the service
charges related to a Key Saver Account will then apply. These fees, charges, minimum
balance requirements and interest rate balance tiers listed below replace your current
account fees, charges, minimum balance requirements and interest rate balance tiers.
$500,000 - $999, 999.99
Fee/Balance Requirements
$10,000 - $24,999.99
$25,000 - $49,999.99
$50,000 - $99,999.99
$100,000 - $249,999.99
$250,000 - $499,999.99
$1,000,000 and above
PASSBOOK ACCOUNTS
If you have a Youth Savings or any account listed above with a passbook, your account
will convert to a Key4Kids Savings Account, which is a statement savings account.
Your account will no longer be considered a passbook account. Retain your passbook
for your records with your other important documents. First Niagara will provide a
statement reflecting all activity that occurred since your passbook was last updated
through October 7, 2016.
Amount
Monthly Maintenance Service Charge
$0.00
In-person Check(s)/Withdrawal(s) Paid
Charge
$1.00 per check/withdrawal paid at a
Branch in excess of 4 per monthly period.
Paper Statement Charge
Waived through 9/30/17. After 9/30/17,
$3.00 per quarterly statement period
to receive your Account statement on
paper. There is no charge to receive your
statement electronically.
Electronic Funds Transfer Service
Fees – See also the enclosed
Disclosure of Terms and Conditions
for Electronic Funds Transfer
Transactions that apply to adult joint
account owner or adult custodian.
Fee Amount
Foreign (non-KeyBank) ATM Fee
$2.50 per transaction within the U.S.
Starting on October 8, 2016, it will no longer be necessary to bring your passbook with
you for transactions made at a KeyBank branch. The branch will not update a passbook.
All transactions including credited interest will appear on your statement. You will receive
a quarterly statement. If you make any type of electronic funds transaction during the first
or second month of your quarterly statement period, an interim statement for that month
will be provided.
Account holders with any of the following accounts:
Pinnacle Money Market
PinnaclePlus Money Market
Investment Protector MMDA Account
Relationship Builder MMDA
Money Market Deposit Account
$5.00 per transaction outside the U.S.
Your account will be converted to a Key Silver Money Market Savings® Account. You
will receive a monthly statement and have limited check writing. These fees, charges,
minimum balance requirements and interest rate balance tiers listed below replace your
current account fees, charges, minimum balance requirements and interest rate balance
tiers.
This fee is in addition to any fees that
may be imposed separately by the ATM
owner/operator.
Foreign Transaction Fee
Fee for using your KeyBank or
First Niagara Debit Card in a foreign
country. 3% of the transaction amount;
such transactions include, without
limitation, cash advances, ATM
withdrawals, and purchases of goods
and services.
ATM-only Card Fee
$1.00 per monthly period if you only have
a KeyBank or First Niagara ATM Card
and if you don’t also have a KeyBank or
First Niagara Debit Card
ATM Mini Statement Fee
$1.50 per ATM Mini Statement requested
at an ATM
Fee/Balance Requirements
Amount
Monthly Maintenance Service Charge
Waived through 9/30/17. After 9/30/17,
$12.00 per monthly statement period.
Way to avoid monthly Maintenance Service Maintain a daily account balance
Charge
of at least $5,000; OR maintain a
Relationship checking account such
as a Key Advantage, Key Privilege or
Key Privilege Select; OR establish and
maintain a monthly direct deposit of at
least $25 into the account; OR establish
and maintain a monthly recurring online
banking transfer of at least $25 from
another KeyBank deposit account.
13
WC-D
Paper Statement Charge
Monthly Inactive Account Fee and Interest
Reduction
Waived through 9/30/17. After 9/30/17,
$3.00 per monthly statement period
to receive your Account statement on
paper. There is no charge to receive your
statement electronically.
Balance ranges
$.01 - $2,499.99
$2,500 - $4,999.99
$5,000 - $9,999.99
$10,000 - $24,999.99
Waived through 9/30/17. After 9/30/17,
$5.00 – Your Account will be charged
the fee and your interest rate will be
changed to .01% if:
$25,000 - $49,999.99
•
$250,000 - $499,999.99
•
$50,000 - $99,999.99
$100,000 - $249,999.99
The Account balance is less than
$5000.00 and
No customer initiated activity for 12
months
$500,000 - $999, 999.99
$1,000,000 and above
¹ After 9/30/17, your Key Silver Money Market Savings Account will be eligible for Full
Relationship interest rates. The interest rate and APY for this Account may vary based
on multiple factors including, but not limited to: your overall relationship with the bank
as defined by other Accounts you have, the balances in all of your Accounts, Account
location, Account usage and other bank services you use. To receive Full Relationship
interest rates on this Account, you must open and/or maintain a personal checking
account and you must have a monthly average of one client initiated deposit and
eight client initiated withdrawals during the three previous calendar months or since
the account opened if the account was opened less than three months and have a
personal credit product (includes all Retail secured and unsecured loans and lines of
credit excluding first mortgages). Examples of a client initiated deposit include direct
deposit, branch, ATM or mobile deposit or ACH credit and examples of client initiated
withdrawals include bill pay transactions, branch withdrawals, checks, debit card or ACH
debit. Your Account will begin to earn interest at the Full Relationship interest rate during
the first full week of the month following the month you meet these requirements. If you
were earning interest at a Full Relationship interest rate, then fail to meet one of the
requirements, your interest rate will revert to the current variable interest rate in effect
at that time during the first full week of the following month. To find out what the current
Full Relationship interest rates and APYs are, contact your local branch.
This fee is in addition to any other normal
account service charges incurred.
A notice will be mailed prior to your
Account being classified as inactive.
You may avoid the inactive classification
by:
• Making a deposit or withdrawal
(includes recurring ACH transaction
activity) or
• Signing and returning the notice
Electronic Funds Transfer Service
Fees – See also the enclosed
Disclosure of Terms and Conditions
for Electronic Funds Transfer
Transactions
Fee Amount
Foreign (non-KeyBank) ATM Fee
$2.50 per transaction within the U.S.
$5.00 per transaction outside the U.S.
This fee is in addition to any fees that
may be imposed separately by the ATM
owner/operator.
Foreign Transaction Fee
Fee for using your KeyBank or
First Niagara Debit Card in a foreign
country. 3% of the transaction amount;
such transactions include, without
limitation, cash advances, ATM
withdrawals, and purchases of goods
and services.
ATM-only Card Fee
$1.00 per monthly period if you only have
a KeyBank or First Niagara ATM Card
and if you don’t also have a KeyBank or
First Niagara Debit Card
ATM Mini Statement Fee
$1.50 per ATM Mini Statement requested
at an ATM
Interest
Interest rates are variable. We may
change the interest rate and annual
percentage yield at our discretion and as
often as daily.¹
Balance used to compute interest
Daily Ending Balance
Balance required to earn interest
$.01
Interest compounding frequency
Daily, credited to the account monthly.
If Account is closed within ten (10)
business days after the last interest
payment date, accrued but not yet
credited interest will not be paid.
If Account is closed after the tenth
business day, interest accrued up to, but
not including, the day of withdrawal will
be paid at closing.
Interest Rate Tiers
We reserve the right to assign the same
interest rate to more than one balance
tier at any one time.
14
WC-D
CERTIFICATE OF DEPOSIT ACCOUNTS
Certificate Accounts with Maturities of less than 32 days. If your account renews
automatically, a notice will only be provided if there is a change in the terms of your
Certificate Account. There is no grace period after the maturity date. You may withdraw
your funds in part or in whole, make additional deposits, or change the term of your
Account on the maturity date. If the maturity date is a Saturday, Sunday, or a legal holiday,
you will have until the next business day after that day to make these changes. Your
Certificate Account will not renew automatically if the automatic renewal provision is not
checked on your deposit receipt. Once your non-renewing Certificate Account matures it
will not earn interest after the maturity date.
On October 8, 2016, First Niagara Certificates of Deposit will become KeyBank
Certificates of Deposit. Your KeyBank Certificate of Deposit (“Certificate Account”) will
be a “book entry” account which means that account owner(s) will not be required to
present a Certificate or a passbook in order to redeem the account. Account ownership
will be solely determined based on KeyBank records. Proper verification of identity may
be required. If you have a passbook with your Certificate Account it will no longer be
necessary to bring your passbook with you for transactions made at a KeyBank branch.
The branch will not update a passbook.
Certificate Accounts with Maturities of 32 days or longer. If you currently
have a Certificate Account with a term of 32 days or longer and the Account renews
automatically, we will notify you before the maturity date. You may withdraw your funds
in part or in whole, make additional deposits, or change the term of your Account within
the 10 calendar day grace period. If your Certificate Account is not one that automatically
renews, we will notify you before the maturity date and may at our discretion, give you
the option to reinvest the funds in a new Certificate Account. We will pay the proceeds
of the Certificate Account to you or reinvest the proceeds of the Certificate Account in
accordance with your instructions.
The interest rate, term and the early withdrawal penalties for your Certificate Account
will not change during the current term. Additional deposits may not be made during the
term of a KeyBank Certificate of Deposit and there are no monthly maintenance service
charges or per-item charges on KeyBank Certificates of Deposit. Charges such as wire
transfer charges and handling legal process charges included in the Other Charges
section apply. Upon your next maturity date after October 7, 2016 there will be different
early withdrawal penalties which are described below. If your Certificate Account autorenews and you have a relationship checking account (Key Advantage, Key Privilege or
Key Privilege Select Checking Account® ) you will receive a renewal interest rate for a Key
CD with Relationship Reward.
If you renew your account automatically or reinvest at your option within 10 days after the
maturity date, your Certificate Account will earn interest without interruption. Otherwise,
no interest will be earned after maturity. Interest credited to the Certificate Account and
not withdrawn before renewal or reinvestment will become part of the principal balance
of the Certificate Account at maturity and may not be withdrawn without penalty, except
as mentioned above. We reserve the right not to renew or reinvest a Certificate Account.
In the following sections, note possible changes to the interest payment frequency and
a change pertaining to account statements that will apply upon conversion/transition.
Please review all of the following sections which describe terms and conditions that will
apply to your Certificate Account upon maturity/renewal.
Interest Payments. If your First Niagara Certificate of Deposit pays interest monthly,
quarterly, semi-annually, or annually, your interest payment frequency will change. If the
term of your Certificate Account is less than or equal to 6 months or less than 182 days,
interest will be paid at maturity. If the term of your Certificate Account is greater than 6
months or greater than 182 days, interest will be paid monthly on issue/open date. If
your last periodic interest payment date does not coincide with the Certificate Account
maturity date, interest accrued between your last interest payment and the maturity date
will be paid at maturity. If you receive interest payments by check or transfer to
another First Niagara account and your last periodic interest payment date is 15
days or less prior to your maturity date we will not send you a check or initiate
a transfer for the final interest payment. We will add the amount of interest to
the interest paid at maturity instead. If you currently have your interest payment
transferred to another account outside of First Niagara, this payment option will
be discontinued and your interest will be paid by check.
Interest Rates & Payments. The Interest Rate that will apply at renewal or account
opening will be the rate in effect on the day the Account is renewed or opened and the
Annual Percentage Yield (APY) quoted is the yield which will result if the initial interest rate
were to remain in effect for an entire year. The interest rate applies to the entire balance in
the account. The APY assumes interest remains on deposit until maturity. A withdrawal of
interest (including by check or by deposit to another account) prior to maturity will reduce
the earnings (yield). The initial interest rate on a Certificate Account will be in effect for the
length of the term of your Account. A Certificate Account earns interest from the date of
deposit up to but not including the maturity date. If the maturity date shown on the deposit
receipt falls on a Saturday, Sunday, or a legal holiday, the Certificate Account will mature
on the next bank business day and will earn interest until that day.
We use the Daily Balance method to compute interest on Certificate Accounts. This
method applies the daily percentage rate to the balance in your Certificate Account at
the close of business for that day. We compute the daily percentage rate by dividing the
interest rate by the actual number of days in the year. Interest begins to accrue on noncash items (for example, checks) presented to us no later than the business day
we receive credit for the deposit. Interest earned on all Certificate Accounts excluding
negotiated Certificate Accounts will be compounded daily. If the Account is a negotiated
Certificate Account, the compounding and/or interest payment frequency will be reflected
on your receipt. Interest will be credited as specified in the chart below.
Statements. First Niagara will send a final statement through October 7, 2016. After
October 7, 2016, KeyBank will not send you a statement for your Certificate Account.
However, if you have KeyBank checking or savings accounts you may request that your
Certificate Account detail be combined on your other KeyBank checking or savings
account statements.
Certificate Account Renewal and/or Maturity. These procedures will go into effect
at the time of maturity or first renewal of your KeyBank Certificate Account. All KeyBank
Certificate Accounts renew automatically unless you specify otherwise. However,
our renewal and maturity procedures are based on whether your account term is less
than 32 days, or 32 days or longer. If you’ve provided First Niagara with special
instructions that you want implemented upon maturity of your automatically
renewing Certificate Account, KeyBank does not provide this service.
Therefore, any instructions provided to First Niagara will not be implemented
for Certificate Accounts maturing after October 7, 2016. As described below, based
on the term of your Certificate Account you may make changes to the Certificate Account
on the maturity date or during the 10 calendar day grace period after your maturity date.
Your deposit receipt indicates the options applicable to your Certificate Account. Interest
will be left in the Account unless you instruct us otherwise. Once credited, interest may
be withdrawn from the Account without penalty before the maturity date of the Account.
Interest Payment Options*
KeyBank does not offer a Certificate Account with a term greater than ten (10) years. If
your First Niagara Certificate Account has a term greater than ten (10) years, at maturity
the Certificate Account will single mature and will stop earning interest. If you have a
Step Rate Certificate Account, on the maturity date your Step Rate Certificate Account
will renew to a regular Certificate Account for the same term and will no longer be a Step
Rate Certificate Account. As described below, we will notify you prior to the maturity date.
KeyBank does not currently offer a Step Rate Certificate Account.
If your Certificate Account matures between October 8, 2016 and October 14, 2016,
you will receive a renewal/maturity notice from First Niagara. Other than the maturity
date and length of term that appears on the renewal maturity notice, disregard the rest
of the information. The Certificate Account renewal/maturity information in the sections
below titled Maturities of less than 32 days or of 32 days or longer, Interest Rates
& Payments and Early Withdrawal Penalties will apply to your Certificate Account
after the maturity date. If your Certificate Account matures between October 15, 2016
through November 12, 2016, you will receive a renewal/maturity notice from both First
Niagara and KeyBank. Please disregard the renewal/maturity notice from First Niagara.
The renewal/maturity notice from KeyBank will apply.
Type of Account
Payment
Frequency
Interest Payment
Dates
Payment to
Other Accounts
Up to a 180 Day
Certificate
of Deposit
At Maturity
On your
Maturity Date
Optional for
all terms over 31
days
181 – 364 Days
and 12 Month
Certificate
of Deposit
Monthly or
at Maturity
Monthly on
Anniversary Date or
Maturity Date
Optional
13 to
120 Month
Certificate
of Deposit
Monthly, Quarterly
or Annually
Monthly on
Anniversary Date or
Quarter end
Optional
* You may receive interest payments by check only if the Certificate of Deposit balance is
$5,000 or more.
Early Withdrawal Penalties. You have agreed to keep funds on deposit with us in your
Certificate Account until the maturity date. We retain the right, at our discretion, to refuse
to allow early withdrawal. If we allow you to withdraw either some or all of the funds in your
account prior to maturity, the penalties in the table below will apply. If you withdraw only
some of the funds from your Certificate Account and the penalty exceeds the amount of
interest earned to the date of withdrawal, the difference will be taken out of principal. If
you withdraw the full amount of your Certificate Account early, you will not be paid up to
thirty (30) days of accrued but not yet credited interest. If the penalty exceeds the amount
of interest credited to the date of withdrawal, the difference will be taken out of principal.
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Term of Certificate of Deposit
Penalty based on the amount
withdrawn
7 – 31 Days
All simple interest earned with a
minimum penalty of seven days’ simple
interest
32 – 89 Days
One month’s simple interest
90 – 359 Days
Three months’ simple interest
360 Days – 23 Months
Six months’ simple interest
24 – 47 months
Nine months’ simple interest
48 months and more
12 months’ simple interest
Duplicate Statement
Service Charge
$10.00
For a duplicate copy of your deposit
account statement. For combined
deposit statements only your primary
Account will be assessed the monthly
charge.
Statement Special Handling
Service Charge
$10.00
For special handling of your deposit
account statement per monthly
statement period. For combined
deposit statements only your primary
Account will be assessed the monthly
charge.
Chargeback Fee
$15.00
For each check deposited to your
Account that is returned to us unpaid
Stop Payment Charge
$34.00
For each stop payment or to renew
a stop payment on a check or
withdrawal or on multiple checks in
sequence
We MAY choose to pay/process
certain items into overdraft. You may
ask us not to pay/process any of these
items into overdraft:
Fedwire Service Charge
$20.00
Each Incoming Domestic and
International
Each Domestic Outgoing
Each International Outgoing
•
•
•
•
•
•
Repetitive Outgoing Wire
Transfers
Repetitive wire transfers are those in
which debit and credit transfer parties
remain the same (date and dollar
amount may be different) and will be
discounted $10.00 from the standard
Fedwire Service Charge prices.
Incoming Wire Transfer
Telephone Notification Fee
For requests to be notified by phone of
incoming wire transfers, the standard
Fedwire Service Charge will be
increased by $5.00.
Charge for Copy of Items
For digital images of checks held by
KeyBank:
1-12 per year
13 and above per year
For Imaged Items Statement:
For each digital image of a check
OTHER CHARGES
Miscellaneous Other Charges
These service charges may apply to any Savings, Money Market Savings, or
Certificate of Deposit Account, as incurred.
Other Service Charges
Overdraft Services^
Standard Overdraft
Services1
$30.00
$45.00
Checks
Recurring debit card transactions
Preauthorized automatic debits
Telephone initiated transfers
Electronic transfers and
Other items as a service to you
We DO NOT authorize and pay the
items listed below into overdraft.
However, you may ask us to pay these
items into overdraft:
•
Automated Teller Machine (ATM)
transactions
•
Everyday debit card transactions
No Charge
$3.00
$3.00
If we DO NOT authorize and pay an
overdraft, your transaction will typically
be declined.
Overdraft Item (OD) and
Return Item (NSF) Charges
Per Item
Charge
We assess these fees based on the
number of times OD/NSF items have
occurred in the current period plus the
previous 11 statement periods.
$34.00
1-2
$38.50
3 and above
Daily OD and NSF Charge
Cap
5
Per account
Monthly OD Charge Cap
20
If you have more than 20 OD item
charges during your statement period,
we will stop paying items into overdraft
for the remainder of the period
Recurring Overdraft Service
Charge
$28.50
If your Account remains overdrawn for
five consecutive business days
Returned Statement Charge
$10.00
For statements returned to the bank
due to an incorrect address.
Monthly Statement
Information Safekeeping
Fee
$10.00
For each month that follows (months
two through a maximum of 12
consecutive months) where a current
address has not been provided.
Charge for Each Additional
Copy of Statement
$6.00
Charge for Account Early
Close-out
$25.00
For closing your Account within
180 days after opening (excludes
Certificates of Deposit Accounts)
Charge for Handling Legal
Process
$100.00
For processing legal papers if you
or your Account are affected by any
litigation.
Abandoned Account
Escheat Charge
$5.00
Abandoned Account
Notification Charge
Cost of
Certified Letter
Abandoned Account
Publication Charge
Varies based
on newspaper
charge
Paying your Account into overdraft is done at KeyBank’s discretion.
1
^ If you have NOT asked us to pay ATM transactions and everyday debit card transactions
into overdraft, the following information applies to all other types of transactions:
If we pay an item into overdraft during each of four consecutive statement periods,
AND during your next statement period an item is presented that KeyBank pays into
overdraft, the standard overdraft service provided with your Account will be terminated.
Items will no longer be paid into overdraft when you have insufficient funds in your
Account. The standard overdraft service will not be reinstated until the first day after the
end of three consecutive statement periods following the day we terminated the service
AND your Account has a positive available account balance.
Statement Charges
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SAFE DEPOSIT BOX INFORMATION
If you currently have a safe deposit box at First Niagara, effective October 11, 2016, the
Safe Deposit Agreement enclosed will replace your existing rental agreement with First
Niagara. Although we suggest you read the entire Agreement, we’d like to draw your
attention to the following important differences. Please retain the Safe Deposit Agreement
with your other important papers.
If you currently employ a seasonal address for a portion of the year, the seasonal address
will cease to be effective on October 11, 2016. You will need to contact KeyBank to update
your address upon departure and/or return.
KeyBank has the right to move your safe deposit box and its contents to a new location if it
should decide to change its business location. To the extent required by law, KeyBank will
send you a written notice by mail to notify you of any change in location.
KeyBank may transfer its ownership of the box to another bank or safe deposit box
company and will give you written notice of such action. You may also transfer your
ownership of a box from one KeyBank branch to another KeyBank branch.
If your safe deposit box is currently set up for automatic payments from your First Niagara
checking or savings account, your payments will continue without interruption. If you
would like to set up a new automated payment plan using a KeyBank Account, please
contact your KeyBank branch on or after October 11, 2016.
In the event you fail to pay the rent due for a period of thirty (30) days, KeyBank has the
right to deny access to the box until such time that all past due rent, late charges and other
fees are paid in full. In certain instances, upon written notice to you, KeyBank may drill
open the box for failure to pay rent. Costs associated with drilling will be billed to you along
with all past due rents and charges.
The following fees will apply to your safe deposit rental
Fee Description
Fee Amount*
Safe Deposit Box Annual Rental Fee
Will not change effective October 11,
2016
Late Fee
$5.00 if you fail to pay your rental fee
within 10 days of the due date
Lost Key Replacement Fee
$40.00 per key
Expedited Lost Key Replacement Fee
$60.00 per key
Box Drilling Fee
$200.00
*Fees are subject to change pursuant to the Safe Deposit Agreement.
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CARDHOLDERS WITH ANY TYPE OF FIRST NIAGARA
DEBIT MASTERCARD® OR ATM CARD
You will be able to continue to use your current First Niagara Debit MasterCard or ATM
card (“Card”) and Personal Identification Number (PIN). Your Card will be linked to
your new KeyBank account(s) at the time your account is converted. Your current daily
purchase limits and daily ATM cash withdrawal limit will remain the same until your
First Niagara Card is replaced with a KeyBank Card. Once you receive a KeyBank Card,
you will need to select a new PIN when you activate your new Card. You can select the
same PIN you had with your First Niagara Card.
All First Niagara Cards will be replaced with a KeyBank Enhanced Debit MasterCard or a
KeyBank ATM Card during the second quarter of 2017. If, however, you request to have
your First Niagara Card reissued (e.g. Lost/Stolen, fraud, Card doesn’t work, would like a
KeyBank Card, etc.), after October 6, 2016, you will receive a KeyBank Enhanced Debit
MasterCard or a KeyBank ATM Card. When you receive your KeyBank Enhanced Debit
MasterCard or KeyBank ATM card the following transaction limits will apply.
Debit Cards
KeyBank Enhanced Debit
MasterCard
KeyBank ATM Card
Daily Signature/PIN
Purchase Limit
Daily ATM Withdrawal
Limit
$7,500
$500
$500 (PIN only)
$300
The number of purchases with a KeyBank Debit MasterCard, KeyBank Enhanced Debit
MasterCard or a KeyBank World Debit MasterCard is limited to twenty (20) per day.
The Disclosure Statement and Terms and Conditions for Electronic Fund Transfer
Transactions on page 31 provides important information about your KeyBank Enhanced
Debit MasterCard, KeyBank ATM Card, other types of Cards, and other electronic funds
transfer services. Most sections of this disclosure are similar to First Niagara’s disclosure.
This Disclosure Statement and Terms and Conditions for Electronic Fund Transfer
Transactions will govern your First Niagara Card transactions and other electronic funds
transfer transactions that occur after your account(s) is converted to a KeyBank account.
Please review the entire disclosure, however we would like to draw your attention to the
following sections which include different or additional terms and conditions: Section 5.
(b) Limits on the Dollar Amount of Transactions; Section 6. Types of Available
Transfers Initiated Using Telephone Banking and the Limits On Them; Section
13. Other Terms and Conditions; Section 14. Rules and Regulations; Section
15. Amendment and Cancellation and Section 16. Notification to Regulatory
Authority. Section 7. Charges for Transactions, Transfers and Other Services
describes fees associated with your transactions, however these fees are also included in
the Checking and Savings Account sections of this Disclosure Booklet.
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WC-D
ONLINE BANKING AND
DIGITAL WALLETS
If you are enrolled in Online Banking at First Niagara, we will automatically transfer
your statements, account history and bill pay to KeyBank. The Online Banking Service
Agreement on page 58 provides important information about KeyBank’s Online Banking.
While many features in KeyBank’s Online Banking service are similar to First Niagara’s, we
would encourage you to read the entire disclosure for more detail.
If you have enrolled your First Niagara Card(s) in ApplePay, you will be able to continue
using it without any further action on your part. The Terms and Conditions for Adding Your
Card to a Digital Wallet on page 40 provides important information about use of ApplePay
at KeyBank. Most sections of this disclosure are similar to First Niagara’s disclosure, but
we would encourage you to read the entire disclosure.
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DEPOSIT ACCOUNT AGREEMENT AND
FUNDS AVAILABILITY POLICY
All Deposit Accounts
THE FOLLOWING APPLIES TO BUSINESS ACCOUNTS ONLY
As a KeyBank deposit account customer, KeyBank’s Deposit Account Agreement and
Funds Availability Policy will apply to your deposit account. The enclosed KeyBank Deposit
Account Agreement and Funds Availability Policy, governs the terms and conditions of
your KeyBank deposit account(s). This Agreement will replace the First Niagara Deposit
Account Rules and Regulations starting after close of business on Friday October 7, 2016.
In our discretion, we may decide to pay/process a check, debit card transaction,
preauthorized automatic debit, telephone-initiated transfer, electronic transfer or other
item as a service to you even if the Account on which it was drawn/debited does not
contain sufficient available funds. When we do so the payment may create an “overdraft”
in your Account. If you do not want us to pay/process any of these items as a service to you
when the Account on which it is drawn/debited does not have sufficient available funds,
please contact your KeyBank branch or your Financial Advisor.
Please read this Agreement carefully, as some of the terms and conditions are
significantly different from those that currently govern your First Niagara deposit account.
The following contains a summary of certain significant provisions that will apply to your
deposit account. In addition, we have enclosed several documents that when combined,
make up the terms and conditions that govern your deposit account with KeyBank,
including the Disclosure Statement and Terms and Conditions for Electronic Fund Transfer
Transactions. Please read the following information and the accompanying documents
carefully and then retain them with your other important papers.
Section 6. Posting Order; Payment of Items; Overdrafts; Substitute Checks.
This section contains information regarding the manner in which KeyBank processes
items presented for payment. We may change the posting order at any time with notice
to you. We establish different processing groups that are based on the date and/or time a
transaction was initiated such as transactions made by you after normal business hours
or items initiated by us.
Although we encourage you to read the entire Agreement, we would like to draw your
attention to a few of the significant provisions.
The processing groups established depend on your Account type. Please refer to the
Welcome Letter (if applicable) or the Checking and Savings Account sections of this
Disclosure Booklet to determine your KeyBank Account type.
Deposit Account Agreement
Please review this section carefully to determine the posting order that will apply to your
deposit account(s).
Section 2. Opening Your Account. This section describes the requirement to provide
KeyBank with information, forms and other documentation that we may require to open a
deposit account.
Section 10. Account Statements; Limitation on Time to Report Unauthorized
Transactions, Forgeries and Errors. This section contains information regarding
reviewing your deposit account statement and the notification of KeyBank of errors or
irregularity of any kind. Please carefully review the entire section, including the time limits
associated with reporting such items to KeyBank.
THE FOLLOWING APPLIES TO CONSUMER ACCOUNTS ONLY
In addition this section describes that KeyBank may pay certain items into overdraft at its
discretion and your right to opt out of such overdraft services. In our discretion, we may
decide to pay/process a check, recurring debit card transaction, preauthorized automatic
debit, telephone-initiated transfer, electronic transfer or other item as a service to you
even if the Account on which it was drawn/debited does not contain sufficient available
funds. When we do so the payment may create an “overdraft” in your Account. If you
do not want us to pay/process any of these items as a service to you when the
Account on which it is drawn/debited does not have sufficient available funds,
please contact your KeyBank branch or your Financial Advisor.
Section 25. Arbitration Provision. This Provision sets forth the circumstances and
procedures under which a Claim or Claims may be arbitrated instead of litigated in court.
The Arbitration Provision will apply to your deposit accounts unless you notify us in writing
that you reject the Arbitration Provision by December 9, 2016. Send your rejection notice
to KeyBank National Association, P.O. Box 93752, Cleveland, Ohio 44101-5752. Your
notice must include your name, the names of any joint account holders and your deposit
account number(s) and must be signed by at least one of the joint account holders.
In addition, we do not authorize and pay an overdraft for Automated Teller Machine
(“ATM”) and everyday debit card transactions unless you ask us to. Please review the
enclosed Overdraft Consent Form. If you want us to authorize and pay overdrafts on ATM
and everyday debit card transactions, at our discretion, you may call 1-888-725-7606,
sign on to KeyBank’s Online Banking and select the Overdraft Services Options link on the
Self Service tab, visit any KeyBank branch or contact your Relationship Manager. Normal
overdraft fees will likely apply.
Please refer to this section for more important information about the Arbitration Provision.
Section 26. Applicable Law. The Deposit Account Agreement and all deposit accounts
will be governed by the laws of the State of Ohio (without regard for conflict of law rules)
and applicable federal law, but with respect to all fees and charges related to your deposit
account, federal law alone will control.
FUNDS AVAILABILITY POLICY
KeyBank’s Funds Availability Policy (Policy) is included in the enclosed Deposit Account
Agreement. This Policy is similar to First Niagara’s Funds Availability Disclosure with only a
few differences and will apply to deposits you make to your account once your account is
converted to a KeyBank deposit account. It describes when funds from your cash, check,
and electronic deposits will be available for withdrawal.
Please refer to the enclosed Deposit Account Agreement and Funds Availability Policy for
details and to determine when funds deposited will be available for withdrawal.
Our Funds Availability Policy for deposits to all Personal deposit accounts and specified
Business deposit accounts is to make funds from deposits available no later than the first
business day after the day we receive your deposit. The Policy applies to all methods and
channels used to make a deposit. Our business day cut-off time for a deposit made at a
KeyBank ATM and a mobile deposit are later than those at First Niagara. Deposits made
by 7:00 p.m. local time on any business day at a KeyBank ATM are considered received
on that business day. Mobile deposits made to a Personal deposit account by 11:00 p.m.
Eastern Time on any business day will be considered received on that business day. Cash
deposits made at a KeyBank branch and at a KeyBank image ATM are available on the
business day of deposit. Cash deposits made at a KeyBank envelope ATM are available on
the first business day after the day of deposit.
20
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DEPOSIT ACCOUNT AGREEMENT AND
FUNDS AVAILABILITY POLICY
Effective October 8, 2016
2.Opening Your Account. To open and maintain your Account you must complete
the proper forms and provide us with any other documents, information or items that
we may require to establish and maintain an Account with us. These requirements
include acceptable forms of identification including but not limited to a thumbprint
in certain states, any required minimum deposit, and your Taxpayer Identification
Number. If these items are not provided within a reasonable period of time, we may
close your Account as described in Section 16. If you open a non-personal Account
with us, you must certify the adoption of resolutions acceptable to us that authorize
us to transact business with your designated representative(s).
KeyBank National Association
Member FDIC
TABLE OF CONTENTS
PART I – DEPOSIT ACCOUNT
AGREEMENT
1. This Agreement
2. Opening Your Account
3. Deposits to Accounts
4. Collection of Items Deposited
5. Withdrawals
6. P osting Order; Payment of Items;
Overdrafts; Substitute Checks
7. Stopping Payment
8. Account Disclosure and Fees
9. Signature Cards and Resolutions;
No Two Signer Accounts
10. Account Statements; Limitation
On Time to Report Unauthorized
Transactions, Forgeries and Errors
11. Time Account Certificates
12. J oint Personal Accounts;
Survivorship Accounts
13. Payable on Death Accounts
14. Fiduciary and Custody Accounts
15. Powers of Attorney
16. Closing Accounts
17. Inactive Accounts/Unclaimed Funds
18. Death/Incompetence
19. Our Right of Set-off
20. A dverse Claims; Interpleader; Legal
Process
21. Assignment; Pledge
22. Waiver of Notices
23. Check Cashing
24. Addresses; Notices
25. Arbitration Provision
26. Applicable Law
27. Amendments; Non-Waiver; Severability
28. Credit Reports
29. Disclosure of Account Information
30. Electronic Authentication or Signature;
Electronic Records
31. Enforceability of Electronic Records and
Signed Documents
If you open a fiduciary Account, other documents required depend on the type
of Account being opened. For example, if you open an estate Account you need
certified court appointment papers naming you as executor or administrator of the
estate. If you are a trustee under a written trust agreement, you must show us a copy
of the trust agreement specifying the beneficiary, the trustee, the trust property, and
verifying the trustee’s authority to open the Account. Federal tax laws require us to
obtain from each Account owner a certification of the owner’s Taxpayer Identification
Number and whether the owner is subject to backup withholding. You must notify us
if your Taxpayer Identification Number is incorrect or if you become subject to backup
withholding. We must withhold some of the interest payable on your Account if you
fail to give us a correct Taxpayer Identification Number or otherwise become subject
to backup withholding. It is our policy not to open an Account unless you certify your
Taxpayer Identification Number or have applied for a Taxpayer Identification Number.
If you fail to provide an appropriate Taxpayer Identification Number, we may close
your Account.
Standard Overdraft Services that may come with your Account. You may
make your selection as described below at the time you open your Account or any
time thereafter.
THE FOLLOWING APPLIES TO CONSUMER ACCOUNTS ONLY
In our discretion, we may decide to pay/process a check, recurring debit card
transaction, preauthorized automatic debit, telephone-initiated transfer, electronic
transfer or other item as a service to you even if the Account on which it was drawn/
debited does not contain sufficient available funds. When we do so the payment
may create an “overdraft” in your Account. Overdrafts can also result from other
circumstances, such as when a check deposited by you is returned to us unpaid. If
you do not want us to pay/process any of these items as a service to you when the
Account on which it was drawn/debited does not contain sufficient available funds,
please contact your KeyBank branch or your Financial Advisor.
PART II – FUNDS AVAILABILITY POLICY
PART I – DEPOSIT ACCOUNT AGREEMENT
This Agreement governs all Accounts you maintain with us. As used in this Agreement,
“we,” “us,” “our,” and similar terms mean KeyBank National Association, Cleveland, Ohio,
its respective parents, wholly or majority owned subsidiaries, affiliates, predecessors,
successors, assigns, employees, officers and directors. “You,” “your,” and similar terms
mean each person listed on our records as the owner of the Account and any person you
authorize to sign or act on your behalf.
We do not authorize and pay an overdraft for Automated Teller Machine (“ATM”) and
everyday debit card transactions unless you ask us to. Please review the Overdraft
Services Consent Form provided. If you want us to authorize and pay overdrafts
on ATM and everyday debit card transactions, at our discretion, you may call
1-888-725-7606, sign on to Online Banking and select the Overdraft Services Options
link on the Self Service tab, vist any KeyBank branch or contact your Relationship
Manager. Normal overdraft fees will likely apply. If you do not contact us to make
an overdraft services selection, we will consider this to mean you do not want us to
authorize and pay overdrafts on ATM and everyday debit card transactions. On a joint
Account, any account owner can make an overdraft services selection that will apply
to these transactions.
1.This Agreement. This Agreement is the contract between you and us that governs
all Personal and Business Accounts. You agree to its terms by opening an Account.
You should read this Agreement carefully and keep a copy for your records. From
time to time we may offer new types of Accounts and may cease offering some
types of Accounts. This Agreement governs all of these new types of Accounts, and
continues to govern any Accounts you may have that we no longer offer. As used in
this Agreement:
•
Account means all Checking, Savings and Time Deposit Accounts. “Personal
Accounts” means Accounts we classify from time to time as personal and offer
primarily to consumers for personal, family or household purposes. “Business
Accounts” means all other Accounts and includes Accounts we offer from time
to time primarily to businesses, organizations, public entities, commercial and
non-profit enterprises, corporations, partnerships, limited liability companies,
sole proprietors and associations.
•
Checking Accounts means all Accounts we designate from time to time as
Checking Accounts.
•
Savings Accounts means all Accounts we designate from time to time as
Savings Accounts.
•
Time Accounts means all Accounts that you deposit with us for a specified
period of time and we classify from time to time as time deposits.
You agree to pay us the full amount of any overdraft on your Account immediately
upon demand, together with any additional fee we charge.
On joint Accounts, each of you is jointly and severally liable for overdrafts. This
means we can collect the full amount of the overdraft, plus any fees, from either of
you, even if you did not create the overdraft, or collect from all of you.
THE FOLLOWING APPLIES TO BUSINESS ACCOUNTS ONLY
In our discretion, we may decide to pay/process a check, ATM withdrawal, debit card
transaction, preauthorized automatic debit, telephone-initiated transfer, electronic
transfer or other item as a service to you even if the Account on which it was drawn/
debited does not contain sufficient available funds. When we do so the payment
may create an “overdraft” in your Account. Overdrafts can also result from other
circumstances, such as when a check deposited by you is returned to us unpaid.
You agree to pay us the full amount of any overdraft on your Account immediately
upon demand, together with any additional fee we may charge. If you do not want
us to pay/process any of these items as a service to you when the Account on which
it was drawn/debited does not contain sufficient available funds, please contact your
KeyBank branch or your Financial Advisor.
Additional terms apply to Time Accounts, retirement Accounts and to some other
types of Accounts. You receive a copy of these other terms when you open your
Account, and you agree to comply with them. Some Accounts, such as retirement
Accounts and uniform gifts or transfers to minors custodial Accounts, are also
subject to the terms and conditions imposed by specific laws governing such types of
Accounts.
Interest bearing Checking Accounts may be opened and maintained by any individual
or business entity.
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Wireless Express Consent (applies to Consumer Accounts only)
Restriction on Deposit of Substitute Checks. You are prohibited from
depositing or cashing any substitute check with us that was not previously created
by a financial institution and then transferred to you, unless you have signed a
separate service agreement with us that governs this process. Please contact your
Account Officer to discuss these services for business customers in greater detail.
In the event you deposit a substitute check without our prior authorization and we
subsequently process the substitute check, you assume all risk of losses, damages,
liabilities and other obligations that may arise as a result of your action, and you
agree to indemnify and save us harmless in the manner described in the section
titled Adverse Claims; Interpleader; Legal Process from all losses, damages,
liabilities, obligations, expenses and costs that we incur as a result of your action.
Substitute checks created by us or another financial institution that are returned to a
customer unpaid (i.e. a substitute check of a deposited item returned unpaid) may be
redeposited in accordance with applicable rules, regulations and laws.
By providing a telephone number for a cellular telephone, other wireless device, or
a landline number that was later converted to a wireless device, you are expressly
consenting to receiving communications at that number, including, but not limited
to, prerecorded or artificial voice message calls, text messages, and calls made by
an automatic telephone dialing system from KeyBank National Association and its
affiliates and agents. This express consent applies to each such telephone number
that you provide to us now or in the future and permits such calls regardless of
their purpose. These calls and messages may incur access fees from your cellular
provider.
3.Deposits to Accounts. All deposits you make are subject to “proof” by us. This
means we reserve the right to review the cash, checks or other items deposited to
confirm the amount of the deposit and that all checks and other items are properly
payable. We can correct any errors we find. For example, if you made an error in
adding up the amount of your deposit, we can correct your Account records to reflect
the actual amount deposited. We can correct errors even if we gave you a receipt
for the incorrect amount or already posted the incorrect amount to your Account.
We can supply your endorsement if it is missing from any check or other item you
deposit. If a check or other item was not properly payable, we can decline to credit
your Account for the amount of the check or other item.
IMPORTANT NOTICE TO BUSINESS CUSTOMERS REGARDING INTERNET
GAMBLING.
The Unlawful Internet Gambling Enforcement Act (UIGEA) prohibits any person or
other entity from making or accepting a Restricted Transaction as defined in UIGEA
and Regulation GG. All Restricted Transactions at KeyBank are prohibited. We have
established certain policies and procedures designed to identify and block, or
prevent payment of, any Restricted Transaction involving your Account(s) with us.
Also we may at our sole discretion block or prevent payment of all Internet gambling
transactions without notice to you. You hereby acknowledge and agree that we
shall have no obligation or liability of any kind for blocking, or failing to block, any
Restricted Transaction or other Internet gambling transaction.
We reserve the right to refuse to accept any check or other item to be deposited. In
particular, we will not accept deposits of any checks or other instruments that cannot
be mechanically processed by our check/item processing hardware and software,
or otherwise be processed and paid in accordance with our standard practices or
with standard check/item collection practices of banks in general (e.g. checks in the
amount of $100 million or greater).
4. Collection of Items Deposited. When you deposit or ask us to pay a check or
other item that is not drawn on us, we act as your collecting agent to obtain payment
for you. We may forward these items directly or indirectly to any other bank, including
the bank on which the item is drawn. Items and their proceeds may be handled by
any Federal Reserve Bank in accordance with applicable Federal Reserve rules, by
clearinghouses in accordance with their rules, and by other banks in accordance
with common bank practices. You agree that all rules, regulations and practices
of Federal Reserve Banks and clearinghouses also apply to the payment and
collection of the checks and items you give us. When we act as your collecting
agent, we assume no duties or responsibilities (other than to use ordinary care),
and we are not responsible for the actions of any Federal Reserve Bank or other
bank or clearinghouse that handles the check or item during the collection process.
You agree to reimburse us for any loss we may sustain (or damages we must pay
another person for their loss) resulting from the condition of any check or item you
deposit. This includes illegible and missing signatures, numbers or other information,
instructions and disclaimers on the front or back of the check or item, and use of
the space on the back of checks reserved for endorsement by banks that handle the
check for collection.
When we credit your Account for a check or other non-cash item you deposit, the
credit is conditional. This means we can revoke the credit if the check or other item
is dishonored or not paid for any reason, even if we are unable to return, or there is
any delay in returning, the unpaid check or other item to you. We can also revoke
a credit for any other reason if permitted under applicable law. You agree to waive
the requirements of any law limiting the time within which we must revoke a credit
or requiring us to notify you of nonpayment, dishonor or the revocation of a credit.
Some of our branches have established “cut-off” times (e.g. 2:00 p.m.). Deposits
received, withdrawals made and other transactions occurring prior to the cut-off time
each business day will be posted to Accounts as of that day. Deposits received,
withdrawals made and other transactions occurring after the cut-off time will be
posted to Accounts as of the next business day. Deposits received, withdrawals
made and other transactions occurring on any non-business day will be posted as of
the next business day.
Deposits containing 500 or more checks may be subject to a branch specific cut-off
time. If a cut-off time applies it will be posted at the branch. Deposits of 500 or more
checks made at a branch before the posted cut-off time will be considered received
that business day. Deposits of 500 or more checks made at the branch after the
posted cut-off time will be considered a next-business day deposit and processed
accordingly. Cash is not subject to the cut-off time and will be verified and credited
the same-day. The cut-off time may vary by location but will not be earlier than 2:00
p.m. local time.
5.Withdrawals. Federal law requires us to impose special rules limiting withdrawals
from some Accounts. The rules differ depending on the type of Account.
•
Checking Accounts. Checking Accounts consist of two subaccounts: a
checking subaccount and a savings subaccount. All of the provisions of this
Agreement and all of the terms and conditions governing your Checking Account
apply to the Account as a whole without reference to the subaccounts, except as
provided in this section. If your Checking Account earns interest, the interest rate
will apply to both subaccounts. If your Checking Account does not earn interest,
no interest will be paid on either subaccount.
We transfer funds in the checking subaccount to the savings subaccount when
such funds are not needed to pay checks, debits, or other items drawn on your
Checking Account. We may sweep the entire balance into the savings subaccount
during the weekend when no items will post to your Checking Account. We may
also establish a threshold balance in the checking subaccount and transfer any
funds in excess of the threshold balance to the savings subaccount. All checks,
debits and other items will be paid from balances credited to the checking
subaccount. All deposits and credits will be credited to the checking subaccount.
We periodically reallocate the balances between the subaccounts to make funds
available in the checking subaccount to pay checks, debits and other items
drawn on your Checking Account. These transfers will be the only transactions
on the savings subaccount. We will not allow more than six transfers per monthly
statement period from the savings subaccount and, if a sixth such transfer is
made, all funds in the savings subaccount will be transferred to the checking
subaccount for the remainder of the monthly statement period.
In accordance with federal law, we reserve the right to require seven days’ prior
notice of any transfer from a Money Market Checking Account (Negotiable Order
of Withdrawal). Subject to these limitations, you can make an unlimited number
of withdrawals in person or by check and arrange for preauthorized transfers and
withdrawals, including telephone transfers.
Items sent to us in the mail for deposit are not considered to have been received by
us until delivered to us by the U.S. Postal Service. Items placed in one of our night
depository boxes or similar boxes at our facilities are not considered received until we
remove them (which usually occurs by 9:00 a.m. on business days). Items delivered
to us electronically are not considered to have been received by us until accepted
by us. Until we receive them, you bear the risk that deposits will be lost, stolen or
destroyed.
We make the funds you deposit available for withdrawal in accordance with our
Funds Availability Policy, which accompanies this Agreement. Until the funds become
available, you cannot withdraw them or write checks against them and we can refuse
to permit withdrawals or pay checks if the funds to do so are not yet available.
You may not deposit remotely created checks (items not bearing the maker’s
signature, but purporting to be authorized by the maker) to an account with us
without our prior, express written consent. This provision does not apply to checks
created on your behalf by the paying bank. If you deposit remotely created checks
with us, you agree that we may withhold a portion of the proceeds of such drafts or
other funds in your Accounts in a reserve account, in an amount that we reasonably
believe may be needed to cover future chargebacks, returned items, and/or claims
that such drafts were unauthorized. You grant us a security interest in the reserve
account. Unless we agree otherwise in writing with you, reserve funds shall not
bear interest. Our rights to charge your Account for returned remotely created
checks will not be limited by the balance or existence of any reserve. Our rights with
respect to the reserve, as well as the security interest granted to us, shall survive
the termination of this Agreement. We may discontinue accepting remotely created
checks at any time without cause or prior notice.
22
WC-D
•
Savings Accounts. Savings Accounts have no check-writing privileges unless
we specifically tell you that you may write checks on your Account. On Savings
Accounts, you may withdraw money in person at our branches, arrange for
preauthorized transfers and withdrawals and, if your Savings Account has checkwriting privileges, write checks, subject to the following limitation: during any
monthly statement period, you are permitted or authorized to make no more than
six transfers and withdrawals to another KeyBank account of yours (including a
transaction account) or to a third party by means of a preauthorized or automatic
transfer, or telephonic (including data transmission) agreement, order or
instruction, or by check, draft, debit card or similar order payable to third parties,
including transfers to third parties made through an automated teller machine
or telephone and point of sale transactions posted to your Account. You can
make an unlimited number of withdrawals in person at an ATM or at any of our
branches. You can also make an unlimited number of transfers through an ATM
from one Checking or Savings Account to another Checking or Savings Account.
We reserve the right to require seven (7) days prior written notice of any intended
withdrawal (whether made in person, by check, by telephone or by preauthorized
transfer or withdrawal).
•
Time Accounts. When you open a Time Account, you are agreeing to keep
your funds on deposit with us in that Account until the maturity date. We are
not required to allow you to withdraw any or all of the funds in the Account until
the maturity date. If we do allow a withdrawal, we may require you to withdraw
the full balance in the Account and pay an early withdrawal penalty. Unless the
disclosures given when you open a Time Account provide otherwise, you cannot
change the terms of this Account, make additional deposits or partial withdrawals
either during the term or during any grace period after maturity.
•
Retirement Accounts. Most of the restrictions on withdrawals described above
will apply to Accounts that are retirement Accounts. Certain other restrictions
will also apply. Refer to the documents governing your retirement Accounts for a
complete description of these restrictions.
•Transactions initiated by you in a branch after the branch’s business day cutoff;
including branch transactions conducted on Saturday.
•ATM, debit card PIN/POS, telephone, and online banking transactions conducted
between 7:00 p.m. and midnight local time (local time is based on the state
where you opened your Account) on the previous day; including transactions
conducted between 7:00 p.m. Friday through midnight Sunday local time.
•Debit card signature transactions with an authorization date (when available,
otherwise we will use the settlement date) that is prior to the current processing
date are considered prior day transactions.
•Mobile Banking deposits made on a previous day to a consumer Account
–between 7:00 p.m. and midnight local time to a consumer Account opened in
AK;
–between 8:00 p.m. and midnight local time to a consumer Account opened in
OR or WA;
–between 9:00 p.m. and midnight local time to a consumer Account opened in
CO, ID or UT;
–between 11:00 p.m. and midnight local time to a consumer Account opened in
IN, KY, MI, OH, FL, NY, PA, CT, MA, ME or VT;
including Mobile Banking deposits conducted between these time periods on
Friday through midnight Sunday local time (local time is based on the state where
you opened your Account).
All transactions not classified as prior day are considered current day transactions.
Prior day transactions will post using the current business day’s processing date.
The following chart reflects the current posting order for categories within the
processing groups for all consumer (excluding Nursing Home Direct Deposit and
Key Pre-Need Funeral Trust) and certain small business (refer to list above) Account
transaction types. Certain limited exceptions may apply.
For Accounts on which we have reserved the right to require prior notice of
withdrawal, if we exercise that right we can refuse to allow any withdrawal for which
proper notice was not given. This means, for example, that we can refuse to pay
checks written against the Account. If we take these actions, we are not liable to you
for wrongful dishonor, for failure to release your funds or for any other reason.
Primary
Processing
Posting
Group
Categories
For Savings Accounts, if you exceed any of the limits on transactions, withdrawals, or
checks, we may close your Account or convert your Savings Account to a Checking
Account. If we convert your Account, you agree to pay all fees we charge on
Checking Accounts and comply with all other terms and restrictions applicable to
Checking Accounts.
You authorize us to transfer money from one Checking Account or Savings Account
to another Checking Account or Savings Account, or to a third party, when we
receive instructions to do so from you over the telephone. You agree that we may
record any of your telephone calls to us when making a telephone transfer.
If we ask, you must provide us with identification or other documents or information
acceptable to us in order to withdraw funds from your Account. If we ask, you also
must sign a document acknowledging that you received the funds withdrawn.
Prior Day
You must use only the forms made available through us, or other forms approved
by us, when making deposits to, withdrawals from, or writing checks on, your
Account. All forms of checks must be standard size, bear your name and address,
our name and address, and the appropriate routing/transit and Account numbers,
and be capable of being processed by our MICR check/item processing hardware
and software.
6.Posting Order; Payment of Items; Overdrafts; Substitute Checks. We may
change the posting order at any time with notice to you. We establish different
processing groups that are based on the date and/or time a transaction was initiated
such as transactions made by you after normal business hours or items initiated by
us. For example, consumer or small business account transactions that you make
on a Saturday or Sunday are posted prior to a transaction you make during normal
business hours on the next business day.
Examples of
Transactions included in Sort Order
Posting Categories
Pending Credits
Reversed signed debit card
purchase
Low to high dollar
amount
Credits
ATM deposit, branch
deposit
Low to high dollar
amount
Overdraft Item
Charges from overdraft/
and Return Item return items occurrences
Charges
from the previous day
Low to high dollar
amount
Branch
Withdrawals
Low to high dollar
amount
ATM &
Debit Card
transactions
(pending &
settled)
Authorization
date/time; if no
authorization
ATM withdrawal, pending
date/time, then
signed debit card purchase, by settlement
posted signed debit card
date/time; if no
purchase
settlement date/
time, then low
to high dollar
amount
Check number;
if no check
number, then
low to high dollar
amount
Checks
The processing groups established depend on your Account type. For all consumer
(excluding Nursing Home Direct Deposit and Key Pre-Need Funeral Trust) and the
following small business Account types, KeyBank Basic Business Checking, Key
Business Gold Money Market Savings, Key IOLTA, Key Interest on RE Trust, NonIOLTA Lawyer Trust Account, Key Business Saver, Key Business Reward Checking,
KeyBank Business Interest Checking, Key Business Silver Money Market Savings,
Key Business Basics Checking, Key Business MajorSaver Money Market Savings, Key
Business Platinum Money Market Savings, and Key Business Money Market Savings,
cutoff times were established to classify transactions as either prior day or current
day. This results in two processing groups: (1) the prior day transactions processing
group and (2) the current day transactions processing group. Transactions that are
classified as prior day include but are not limited to the following:
23
Current
Day
All Other Debits
ACH debit, E-Check, online
banking bill pay
Low to high dollar
amount
Pending Credits
Reversed signed debit card
purchase
Low to high dollar
amount
Credits
ATM deposit, branch
deposit
Low to high dollar
amount
Wire Transfers
Low to high dollar
amount
Branch
Withdrawals
Low to high dollar
amount
WC-D
ATM &
Debit Card
transactions
(pending &
settled)
Current
Day
What is a substitute check?
Authorization
date/time; if no
authorization
ATM withdrawal, pending
date/time, then
signed debit card purchase, by settlement
posted signed debit card
date/time; if no
purchase
settlement date/
time, then low
to high dollar
amount
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, as a consumer, 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.
Check number;
if no check
number, then
low to high dollar
amount
Checks
All Other Debits
ACH debit, E-Check, online
banking bill pay
OD Protection
Transfer
Automatic advance from
Cash Reserve Credit
As applicable
(credit), Automatic Pymt. to
Cash Reserve Credit (debit)
Overdraft Item Charge,
Service charges Maintenance Service
Charge
THE FOLLOWING APPLIES TO CONSUMER ACCOUNTS ONLY
What are your rights as a consumer regarding substitute checks?
Low to high dollar
amount
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).
As applicable
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.
For all other business account type transactions we will post items from highest
dollar amount to lowest dollar amount within certain categories. The following is the
current posting order for all other business account type transactions. Certain limited
exceptions may apply.
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 post all transactions as current day transactions in the following order:
Pending Credits, Pending Debits, Credits, Wire Transfers, other types of transfers,
Debits All Other
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.
Withdrawals by check are permitted only on Checking Accounts and on Savings
Accounts with check-writing privileges. You agree that, when a check or other
item drawn on or payable from your Account is presented for payment, we can
disregard any legends on the check (such as “void after 60 days”, “paid in full” or
“void over $100”), any restrictive endorsements or other information, instructions
and disclaimers that would limit or tend to limit the negotiability of the check or
other item. In our discretion, we may process or decline to process any check more
than six months old. We can also pay photocopies of checks accompanied by a
representation that the original was lost or destroyed. You also agree that we can
pay checks before the date set forth on the check (i.e. “post dated checks”). We
have this right even if you give us notice that you wrote a post dated check. In order
to prevent a post dated check from being paid, you must give us a valid stop payment
order.
THE FOLLOWING APPLIES TO CONSUMER ACCOUNTS ONLY
How should you as a consumer make a claim for a refund?
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 by calling 1-800-KEY2YOU
(1-800-539-2968) (TDD 1-800-762-4833), or write: KeyBank, Customer Disputes,
NY-31-17-0128, 17 Corporate Woods Blvd., Albany, NY 12211. 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.
We may debit your Account on the day an item is presented by electronic or other
means, or at an earlier time based on notification received by us that an item drawn
on your Account has been deposited for collection in another financial institution.
We pay checks or other items from the funds that we determine, in our discretion,
are “available” for withdrawal from your Account. Some or all of the funds in your
Account may not be “available.” For example, for point-of-sale transactions the
funds in your Account that are “available” may be reduced by the amount of any
transaction for which the merchant/payee receives authorization from us, whether or
not the transaction has been presented for payment. We may consider such pending
transaction for the purpose of determining the amount of funds in your Account
to be used to pay other items presented against your Account. In addition, funds
you deposit may not be immediately available under our Funds Availability Policy.
Likewise, we may have placed a “hold” on some or all of the funds in your Account
because, for example, we reasonably believe a court order has restrained us from
releasing funds to you. We will not be liable to you for damages, wrongful dishonor, or
additional fees incurred if we dishonor or decline to pay a check or other item drawn
on or payable from your Account if the Account has insufficient available funds to
pay the check or other item. We do not have to check the balance in your Account
more than once to determine if there are available funds. If an item is presented for
payment against your Account and is returned for any reason more than twice, we
reserve the right to cease any further negotiation of the item.
Your claim must include–
•A description of why you have suffered a loss (for example, you think the
amount withdrawn was incorrect);
• An estimate of the amount of your loss;
•An explanation of why the substitute check you received is insufficient to
confirm that you suffered a loss; and
•A copy of the substitute check and the following information to help us
identify the substitute check: (identifying information, for example the
check number, the Account number, your name, the name of the person to
whom you wrote the check, the amount of the check and the posting date
the check appears on your statement).
If you tell us orally, we may require that you send us your request for a refund in
writing by the 10th business day after the banking day on which the bank received
your oral notice. We will tell you the results of our investigation within 10 business
days after we hear from you. If we need more time, however we may take up to 45
calendar days to investigate your claim. If we ask you to put your request for a refund
in writing and we do not receive it within 10 business days, we may not credit your
Account. We will tell you the results no later than the business day after the banking
day we complete our investigation. If we decide your claim is not valid, we will send
you a written explanation. You may ask for copies of the documents that we used in
our investigation.
If you make a check or other item payable to the order of more than a single payee,
and the check or item is presented to us for payment without the endorsement of one
or more payees, you authorize us to pay the item and charge your Account. In such
event, we will assist you, to the extent we deem practicable, in obtaining any such
missing endorsement(s), or any reimbursement to which you may be entitled.
7. Stopping Payment. You can ask us to stop payment on a check drawn on your
Account. In order to place a stop payment request, you must inform us of the exact
amount of the item, the number of the check, the date of the check, the Account
number, and any other information we may request. A stop payment confirmation
will be mailed to you. You must review the specific details on the confirmation for
24
WC-D
10. Account Statements; Limitation on Time to Report Unauthorized
Transactions, Forgeries and Errors. You should review and balance your
Account statements promptly after you receive them or, if we are holding them for
you, promptly after we make them available to you. If you don’t receive an Account
statement by the date when you usually receive it, call us at once. We will not mail a
paper monthly statement if there is no activity on the account during that statement
period. However, you will receive a deposit account statement quarterly, even if there
is no activity during that period. This is not applicable to you if you currently receive
quarterly statements, a monthly paper combined statement or an online electronic
monthly statement. You must review your statements to make sure that there are no
errors in the Account information. You agree that if you give out your Account number
to a third party, such act authorizes the recipient of the information to initiate debits
to your Account, whether or not you have authorized the particular debit.
accuracy, and call us immediately if any of the information is not accurate. A stop
payment request is effective for only six (6) months, unless you specifically request
the stop payment be effective for 12 months. You may renew a stop payment prior to
its expiration. Refer to the Deposit Account Fees and Disclosures for stop payment
fee details. We are not liable for payment of a check or other item if a stop payment
request has expired and not been renewed. In some states and under certain limited
circumstances, you may stop payment on official checks and on certified checks.
We are not liable for failing to stop payment if you have not given us sufficient
information or if your stop payment request comes too late for us to act on it. We are
entitled to a reasonable period of time after we receive your stop payment request to
notify our employees and take other action needed to stop payment. You agree that
“reasonable time” depends on the circumstances but that we will have acted within
a reasonable time if we make your stop payment request effective by the end of the
next business day following the business day on which we receive your stop payment
request. If we stop payment, you agree to defend and pay any claims raised against
us as a result of our refusal to pay the check or other item on which you stopped
payment.
On Accounts with check-writing privileges, you must review your statement and
any canceled checks we send you and report unauthorized transactions including
forgeries, alterations, missing signatures, amounts differing from your records,
or other information which might lead you to conclude that a transaction was not
authorized or a check was forged or that, when we paid the check, the proper
amount was not paid to the proper person. You have this duty even if we do not
return checks to you or we return only an image of the check. You should notify us as
soon as possible if you think there is a problem.
If we recredit your Account after we have paid a check or other item over a valid and
timely stop order, you agree to sign a statement describing the dispute you have with
the person to whom the check or item was made payable. You also agree to transfer
to us all of your rights against the payee and any other holder, endorser or prior
transferee of the check or item and to cooperate with us in any legal action taken to
collect against the other person(s).
If we are holding your Account statements for you at your request, the statements
become “available” on the day they are available for you to pick up. This means,
for example, that the period in which you must report any problem with an Account
begins on the day we make the statement available, even if you do not pick up the
statement until later.
If we are liable for inadvertently paying your check over a stop payment order, you
must establish the amount of your loss caused by our payment of the check. We will
pay you only the amount of the loss, up to the face amount of the check.
Because of the high volume of items we must process and the largely automated
nature of such processing, you agree that we will not be considered to have failed to
exercise ordinary care if we do not manually examine all items. All checks, withdrawal
forms, and deposit slips must be on forms obtained through us or which we approve
in advance. You are responsible for verifying the accuracy of all information on such
forms. Our liability, if any, for any printing errors on forms obtained through us is
limited to the cost of replacement of such forms. We are not responsible for errors or
losses you may incur due to improper printing on forms not obtained through us or
approved by us in advance.
You may request us to stop payment of electronic funds transfers from your Account.
You must refer to other agreements and disclosures for information regarding
stopping payment on electronic funds transfers.
8.Account Disclosure and Fees. When you opened your Account, we gave you
disclosures containing additional terms and conditions relating to your Account
and listing fees that may be payable to us. You agree to comply with the terms and
conditions disclosed and to pay us the fees and charges imposed by us on your
Account. We can deduct any or all these fees and charges from your Account. We
are not liable for dishonoring or declining to pay a check or other item drawn on or
payable from your Account if your Account does not contain sufficient “available”
funds as a result of our deducting fees and charges from your Account. We can
change these fees at any time. We will give you prior notice of the change if we are
required to do so under applicable law.
If you choose to use a facsimile signature device, you agree that we are not liable
for honoring checks bearing facsimile signatures or facsimile endorsements. You
agree to indemnify us and hold us harmless from any claims related to the use of
a facsimile signature device. This means we will not recredit your Account if your
facsimile signature is forged or use of the facsimile device was unauthorized.
All fees are “deposit account service charges” under Title 12, Code of Federal
Regulations, Section 7.4002 (12 C.F.R. section 7.4002). These fees are assessed
for the inconvenience and additional administrative resources that we incur or
require to provide the associated services. All fees charged in connection with an
overdraft are designed to deter you from overdrawing your account and/or allowing
such overdrafts to continue and thus to maintain the safety and soundness of our
operations. No loan or extension of credit is or is intended to be established by our
honoring of an overdraft. On certain Accounts, an overdraft line of credit is available.
Please contact us for additional information if you are interested in an overdraft line
of credit.
If you have made arrangements with us to review electronic information about
checks presented for payment, we are not liable for any errors or problems with
checks you authorize us to pay. You agree that we will not be considered negligent in
paying checks presented to us electronically through normal banking channels prior
to receiving the actual check or paying checks even if we do not check the signature
on the checks we pay.
If you assert against us a claim that a transaction was not authorized or an item was
not properly payable because, for example, the item was forged or an endorsement
was forged, you must cooperate with us and assist us in seeking criminal and civil
penalties against the person responsible. You must file reports and complaints with
the appropriate law enforcement authorities and promptly provide us with copies of
such reports and complaints. You must also give us a statement, under oath, about
the facts and circumstances relating to your claim. If you fail or refuse to do these
things, we will consider that you have ratified the defect in the item and agree that we
can charge the full amount of the item to your Account.
9. Signature Cards and Resolutions; No Two Signer Accounts. We are entitled
to rely upon and treat as genuine the names, titles and signatures shown on any
Account signature cards and Account Express Plan, or other written documentation
acceptable to us, delivered by you or your officers, employees or agents on your
behalf, unless you notify us otherwise in writing. If we require you to deliver certified
copies of resolutions or sign our depository resolutions to open an Account, we are
entitled to rely upon such resolutions and certifications, without investigation by us,
unless you or your authorized representative notify us otherwise in writing.
You must notify us as soon as possible after receiving your Account
statement if you believe there is an error or irregularity of any kind,
including any unauthorized transaction or signature, lack of signature or
alteration. You agree that thirty (30) days after we mailed a statement
(or otherwise made it available to you) is a reasonable amount of time
for you to review your Account statement and report any errors or other
irregularities. In addition, by law we may be relieved of any potential
liability for multiple unauthorized signatures or alterations by the same
wrongdoer if you do not notify us in writing within thirty (30) days after
your statement containing the first such irregularity was mailed or
otherwise made available to you. Similarly, by law we may be relieved of
any potential liability for losses arising due to your negligence. You agree
that failure to report any error or irregularity in writing within thirty (30)
days after we mailed your statement (or otherwise made it available to
you) shall preclude you from recovering any amounts from us. No legal
proceeding or action shall be brought by you against us to recover any
amount alleged to have been improperly paid out of the Account (as well as
related losses) due to an unauthorized transaction or signature, alteration
or other defect unless (1) you have given the written notice provided
You agree that we can pay checks drawn on your Account and made payable to
any of your officers, partners, employees or agents and we may cash and pay such
checks without inquiring about the authority of the payee or person who signed
the check on your behalf. Subject to the statement review provisions contained in
Section 10 below, if the signature cards or resolutions related to your Account are
unavailable for any reason, you agree that we can rely upon the titling contained in
your most recent Account Statement for purposes of determining the ownership of
the Account.
We do not offer Accounts on which two signatures are required for a check or other
withdrawal. Notwithstanding any provisions to the contrary on any signature card or
other agreement you have with us, you agree that if any Account purports to require
two or more signers on items drawn on the Account, such provision is solely for
your internal control purposes and is not binding on us. If more than one person is
authorized to write checks or draw items on your Account, you agree that we can
honor checks signed by any authorized signer, even if there are two or more lines on
the items for your signature and two signatures are required.
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above, and (2) such action shall have been commenced within the time
required by applicable law. Transactions involving electronic funds
transfers may be governed by the Electronic Fund Transfer Act and may
be subject to KeyBank’s Terms and Conditions for Electronic Fund Transfer
Transactions.
13. Payable on Death Accounts. In some states we offer Personal Accounts that
are payable on death (“POD”). POD Accounts permit you to designate one or more
beneficiaries to receive the funds on deposit in an Account after your death. Until your
death, you are the owner of the Account and the beneficiary has no present, vested
interest in the Account. You can change a beneficiary at any time. The beneficiary’s
right to receive the funds in the Account after your death is subject to our right of setoff and to the rights of any person (including us) that holds a security interest in or
has any claim to the funds in your Account. On joint POD Accounts, the beneficiary’s
right to receive the deceased owner’s share is subordinate to the surviving owners’
rights and the beneficiary will not receive any funds unless all Account owners are
deceased. In order to designate a beneficiary, a designation of beneficiary form must
be completed and signed by you. If no beneficiary form is available, we will presume
that no designation of POD exists.
You may not deposit remotely created checks (items not bearing the maker’s
signature, but purporting to be authorized by the maker) to an account with us
without our prior, express written consent. This provision does not apply to checks
created on your behalf by the paying bank. If you deposit remotely created checks
with us, you agree that we may withhold a portion of the proceeds of such drafts or
other funds in your Accounts in a reserve account, in an amount that we reasonably
believe may be needed to cover future chargebacks, returned items, and/or claims
that such drafts were unauthorized. You grant us a security interest in the reserve
account. Unless we agree otherwise in writing with you, reserve funds shall not
bear interest. Our rights to charge your Account for returned remotely created
checks will not be limited by the balance or existence of any reserve. Our rights with
respect to the reserve, as well as the security interest granted to us, shall survive
the termination of this Agreement. We may discontinue accepting remotely created
checks at any time without cause or prior notice.
14. Fiduciary and Custody Accounts. Trust Accounts and custody Accounts are
fiduciary Accounts in which funds are held by a trustee or custodian for the benefit
of another person. We offer a variety of these types of Accounts where permitted by
applicable law.
An “in trust for” Account is an Account in which you name yourself as trustee in trust
for one or more persons without otherwise establishing a written trust agreement.
As with POD Accounts, you are the owner of the Account and the persons you name
are considered beneficiaries and have no right to receive funds in the Account until
all owners are deceased. The beneficiary’s right to receive funds in the Account is
subordinate to the rights of any other person (including us) that holds a security
interest in or has a claim to the funds in the Account.
Upon your authorization, or to the extent permitted by law, we may at our option send
or otherwise make available your statements in an electronic medium, rather than
mailing you a paper-based statement.
11. Time Account Certificates. All of the Time Accounts we currently offer are “book
entry” Accounts, which means that the Time Account is owned by the person(s)
shown on our records, and no certificate is issued by us on the Account. All Time
Accounts are non-negotiable and non-transferable. We formerly issued certificates
on some Time Accounts and, if we issued a certificate on your Time Account, you
must present the certificate in order to make a withdrawal or close the Account. You
should notify us at once if your certificate is lost or stolen. At our option, you must
give us a bond from a surety company satisfactory to us in an amount not exceeding
the balance in the Account, or other satisfactory indemnity, if you close a certificate
Account without giving us the certificate.
A Uniform Gift to Minors Act/Uniform Transfers to Minors Act (“UGMA/UTMA”)
Account is an Account established under a state law governing gifts or transfers
to minors. In general, state law treats the minor as the owner of the Account and
the custodian or trustee must hold funds in the Account solely for the benefit of the
minor. State laws may restrict the trustee’s or custodian’s rights to use or withdraw
the funds, regulate the appointment of a successor trustee/custodian and require
the distribution of funds to the minor when the minor reaches a certain age. You
must comply with all of these rules in order to maintain a UGMA/UTMA Account.
12. Joint Personal Accounts; Survivorship Accounts. For Personal Accounts, if
there are more than one of you, your Accounts are “joint Accounts.” All deposits
in joint Accounts are the property of each owner as joint tenants with rights of
survivorship. While all owners are alive, we can honor checks or orders drawn by any
owner, honor requests for withdrawals from any owner, release the entire amount on
deposit in the joint Account to any owner, allow any owner to close the joint Account,
and allow any owner to take all actions that a sole owner could take. Any owner
can pledge the joint Account as security or grant a power of attorney to appoint an
attorney-in-fact. However, we reserve the right to require the consent and signatures
of all joint Account owners to take these actions. Each of you appoints all of the other
owners as your true and lawful agents and attorneys-in-fact to conduct any and all
banking business relating to your joint Accounts. Each of you also agrees that any
other joint owner may endorse your name on any check made payable to you for all
purposes, including depositing the check in your joint Account.
Some states have specific laws governing other specific types of fiduciary Accounts,
such as Lawyer Trust Accounts. If you establish one of these types of Accounts you
agree to comply with all of the laws applicable to such types of Accounts.
With all fiduciary and custody Accounts, the owners and beneficiaries of the Account
agree that we will not be liable if the trustee or custodian commits a breach of trust or
breach of fiduciary duty, or fails to comply with the terms of a written trust agreement
or comply with applicable law. We are not responsible for enforcing the terms of any
written trust agreement or applicable law against the trustee or custodian and can
rely on the genuineness of any document delivered to us, and the truthfulness of any
statement made to us, by a trustee or custodian.
15. Powers of Attorney. A power of attorney gives a person you designate as your
“attorney-in-fact” the power to handle your affairs on your behalf while you are
alive. For joint Accounts, we may require the consent and signatures of all Account
owners in order to appoint an attorney-in-fact. All owners of the Account will be
bound by any actions taken by the attorney-in-fact in connection with the Account.
We do not honor powers of attorney on Business Accounts or Accounts owned by
corporations, associations, partnerships, limited liability companies or on Accounts
owned by fiduciaries. On other Accounts, we reserve the right not to honor powers of
attorney. We will not honor a power of attorney unless it is in a form acceptable to us.
We will not honor powers of attorney that do not survive your disability or declared
incompetence, or that have limits on the time the power of attorney is in effect. We
also will not honor any general power of attorney that does not specifically include
detailed provisions granting the power to conduct all banking business on your
behalf. If we decide to honor a power of attorney, we can later decide not to honor it
any longer. Any attorney-in-fact appointed by you is subject to this Agreement.
You agree that we can follow the directions given, and take action requested by, any
owner, even if the directions or actions to be taken are inconsistent with directions or
instructions to act given by another owner. We are not liable for continuing to honor
checks or other orders drawn on the joint Account by any owner or withdrawals made
by any owner even after receiving notice from another owner not to do so. If we
do receive notice, we may, but are not obligated to, refuse to honor any checks,
orders or withdrawals from the joint Account unless all owners agree in writing. You
agree that we can place a hold on funds in your joint Account or pay funds from your
joint Account if we receive a garnishment, levy or other governmental order directed
against any owner, even if the funds in the joint Account were not deposited by the
owner against whom the order is directed.
For joint Accounts “with rights of survivorship” while all owners are living, each joint
owner has the rights described above for joint Accounts. When any owner dies, the
amounts on deposit in the joint Account pass to the surviving owners. The right
of any survivor to obtain his or her share of the deceased owner’s funds in a joint
Account is subject to our right of set-off and the rights of any person (including us)
that holds a security interest in or has any claim to funds in the joint Account.
16. Closing Accounts. We reserve the right to close any or all of your Accounts at any
time for any reason whatsoever, including, but not limited to, because you have an
excessive number or amount of overdrafts or your account is overdrawn for more
than 10 days or if there is a zero balance and no activity for a period of thirty (30)
days. If we do so, we will return the balance in the Account (less any amounts owed
to us) to you by mailing a check to you at the address listed on our records. Subject to
our right to require prior notice of withdrawal on some Accounts as described above,
you may close any or all of your Checking Accounts or Savings Accounts at any time
for any reason whatsoever.
On all joint Accounts, whether or not “with rights of survivorship,” we may honor
checks, orders, or requests for withdrawals from the surviving owners after the
death of an owner. On joint Accounts without rights of survivorship, we may also
honor checks, orders, or requests for withdrawals from the personal representative
or legal successor of the deceased owner.
If an Account is closed, you remain liable for all fees and charges incurred through
the date the Account is closed. You also remain liable for all checks and electronic
funds transfers drawn on the Account that have not been presented to us for
payment and deducted from the Account prior to the time the Account is closed. We
are not required to pay you interest that has accrued but not been credited to your
Account prior to the date the Account is closed.
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17. Inactive Accounts/Unclaimed Funds. We will consider a Checking Account or
Savings Account to be inactive for purposes of unclaimed funds laws if there are
no deposits or withdrawals for a period of one (1) year. If your Checking Account or
Savings Account is inactive we may, in our discretion, decide not to pay checks or
honor other requests for withdrawals on the Account until we receive proof that you
have signed the checks or authorized the withdrawal.
liable for any damages or losses (including claims based on the return or dishonor of
checks) to you caused by the suspension of your Account or action taken in response
to legal process, as long as we acted in good faith.
You agree to indemnify us against all losses, costs, attorneys’ fees, and any other
liabilities that we incur by reason of responding to or initiating any legal action,
including any interpleader action we commence, involving you or your Account. As
part of that indemnity, in the event we incur liability to a creditor of yours as a result
of our response or failure to respond to a legal action, you agree to pay us on demand
the amount of our liability to your creditor and to reimburse us for any expense,
attorneys’ fees, or other costs we may incur in collecting that amount from you.
For Time Accounts that are auto-renewing, the applicable period according to state
law for determining whether there has been activity commences at the expiration of
its initial term. The start of a new term does not constitute activity in the absence of
other activity.
State law requires us to transfer the balance in all Accounts to a state agency after
a certain period of no withdrawals, deposits or other activity on the Account and no
contact with the Account owner.
We may, in our sole discretion and without any liability to you, initiate an action
in interpleader to determine the rights of persons making adverse claims to your
Account. We may exercise this right regardless of whether the persons making
the adverse claims have complied with all statutory requirements pertaining to
adverse claims, such as posting a bond or giving other surety. Upon initiation of
an interpleader action, we will be relieved and discharged of all further duties and
obligations. You agree that any costs associated with the action in interpleader will
be charged against any Accounts you maintain with us.
If this happens to your Account, you must file a claim with the state agency to recover
the funds. We are not liable for funds transferred to the state agency.
18. Death/Incompetence. Your death, or a declaration that you are legally incompetent
to handle your affairs, does not end our authority to pay checks signed by you, to
accept deposits or to collect items deposited until we receive written notice of your
death or declared incompetence. Even after we receive notice, we can pay checks
drawn by you before your death or declared incompetence for up to ten (10) days or
any longer period permitted under applicable law.
21. Assignment; Pledge. You cannot assign or transfer your Account, or pledge your
Account as collateral for a loan, without our written consent. We can withhold our
consent for any reason. With our consent, any joint owner can pledge the entire
Account as collateral for a loan. If we permit you or a joint owner to pledge your
Account as collateral for a loan from us, you agree that if the person who pledged
the Account dies we can apply the balance in the Account to pay off the loan. You
agree that we have this right even if your Account is a joint Account with rights of
survivorship or if you have a POD or an “in trust for” Account and have named a
beneficiary or beneficiaries to receive your Account balance upon your death.
On joint Accounts, your death or declared incompetence does not affect the rights of
any other owner of the Account to make deposits, make withdrawals or, if applicable,
write checks. We may require the surviving owners and any POD beneficiary to
provide reasonable proof of your death or incompetence and, in some states,
provide any tax releases or other documents or consents needed from government
authorities before we pay any checks drawn on your joint Account or allow the
surviving owners or your beneficiary to withdraw any funds from the Account. Each
of you is responsible for notifying us when any other joint owner of an Account dies.
22. Waiver of Notices. We send periodic statements to you on most Checking
Accounts and Savings Accounts to show activity on your Account, including any
returned items or other credit and debit entries. You agree that these statements are
sufficient notice to you and you waive any right to receive any other notice that may
be required under clearinghouse rules, the Uniform Commercial Code or other state
or federal laws (other than the federal Electronic Funds Transfer Act and the federal
Truth in Savings Act).
Checks or other items made payable to a deceased joint Account holder (e.g. Social
Security checks or electronic deposits) must be returned to the issuer and may not
be used, cashed or disposed of in any other way by the surviving Account holders.
If such items are used, cashed or disposed of by any one or all of the surviving
Account holders each Account holder remains liable for the amount of the item and
any charges incurred as a result of the improper use of the item. In our discretion,
we can charge your Account for the amount of these items and remit payment to the
issuer of the item.
23. Check Cashing. You may be required to provide positive identification when
you present a check for payment. We may also limit the dollar amount of checks
cashed. We provide check cashing privileges only to our customers. We reserve the
right to charge a fee to a non-customer if we decide to cash a check for the noncustomer, even if the check is drawn on us. You agree that the charging of such fee
is not considered wrongful dishonor. Positive identification for a non-customer shall
include the non-customer’s thumbprint in most states.
19. Our Right of Set-off. We reserve the right to withdraw at any time some or all of
the funds that may now or later be on deposit in any or all of your Accounts and apply
them to the payment of any debts (other than amounts you may owe us on a personal
credit card account with us) you may now or later owe us. We also have the right to
set-off against any direct deposit from the federal government to which you are not
entitled to. We have this right even if the Account(s) we withdraw money from is a
joint Account and the debt we apply it to is owed by only one of you. Likewise, we
could withdraw money from an Account owned by only one person and apply it to
reduce the joint debt of that person and another person. Our rights under this section
are in addition to any right of set-off we may have under applicable law. You agree
that our right of set-off is not conditioned on, or limited by, the complete mutuality
of the parties obligated on the debt and owners on your Account, the maturity of the
debt, the giving of notice to you, or the availability of any collateral securing the debt.
24. Addresses; Notices. You agree that if we need to contact you or send you any
written (paper-based) information (such as notices, Account statements, checks
payable to you, or other communications), we can do so by mail addressed to any
of you at the Postal Service address in our records or, at our option, by electronic
communication(s) either authorized by you or permitted by law and transmitted by
us to your e-mail address in our records. Unless the communication states another
effective date, any paper-based communication we send you is effective when
mailed to your Postal Service address by delivery to the mail service provider, and
any electronic communication we send you is effective when transmitted by us to
your e-mail service provider. You must notify us promptly in writing, or by e-mail with
written confirmation mailed within five (5) days, if you change your Postal Service or
e-mail address or if your e-mail service provider is no longer providing e-mail service
for you. In no event shall we have any responsibility, and you hereby release us from
all claims and liabilities, for any actions or omissions by you or your e-mail service
provider in handling e-mail to or from you, or for any failure in computer hardware,
software, or communications lines not maintained by us or under our control.
We also have the right to place a hold on funds in your Accounts if we have a claim
against you or pending exercise of our right of set-off. If we place a hold on your
Account, you may not withdraw funds from the Account and we can refuse to pay
checks drawn on the Account.
20. Adverse Claims; Interpleader; Legal Process. We need not honor any claim
against or involving an Account unless we are required to do so by order of a court
or governmental agency that has jurisdiction over us. This rule applies to any person
asserting any rights or interest regarding an Account, including you and other
persons who are authorized to make withdrawals or write checks or who present a
power of attorney signed by you.
25. Arbitration Provision. This Arbitration Provision sets forth the circumstances and
procedures under which a Claim or Claims (as defined below) may be arbitrated
instead of litigated in court. This Arbitration Provision supersedes and replaces any
existing arbitration provision between you and us. This Arbitration Provision will
apply to your Account(s) unless you notify us in writing that you reject
the Arbitration Provision within 60 days of opening your Account(s).
Send your rejection notice to KeyBank National Association, P.O. Box
93752, Cleveland, Ohio 44101-5752. Your notice must include your name,
the names of any joint account holders and your Account number(s) and
must be signed by at least one of the joint account holders. Your rejection
notice should not include any other correspondence. Calling us to reject
the Arbitration Provision or providing notice by any other manner or format
than as described above will not operate as a rejection of this Arbitration
Provision and consequently this Arbitration Provision will become part
of this Agreement. Rejection of this Arbitration Provision does not serve
as rejection of any other term or condition of your Agreement with us
governing your Account(s).
If we receive notice of any claim or dispute or of any legal proceeding we reasonably
believe involves you or any of your Accounts, in our discretion we may suspend
transactions on any Account which we believe to be affected until final determination
of the claim or proceeding. We may place a hold on any funds in the Account and
suspend transactions whether the affected Account is in your name alone or is a joint
Account. Suspension of transactions may, in our discretion, involve placing a hold on
any funds in the affected Account or transferring funds from the affected Account
to a separate suspension account throughout the pendency of the claim, dispute,
or legal proceeding. An Account may be suspended even though the suspension
may have been due to inadvertence, error because of similarity of the names of
depositors, or other mistake. We also may act upon any notice of garnishment,
levy, restraining order, injunction, subpoena or other legal process we reasonably
believe to be valid, without independent verification by us. You agree that we are not
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As used in this Arbitration Provision, the word “Claim” or “Claims” means any claim,
dispute, or controversy between you and us arising from or relating to this Agreement
or your Account(s), including, without limitation, the validity, enforceability, or scope
of this Arbitration Provision or this Deposit Account Agreement. “Claim” or “Claims”
includes claims of every kind and nature, whether pre-existing, present, or future,
including, without limitation, initial claims, counterclaims, cross-claims, and thirdparty claims, and claims based upon contract, tort, fraud and other intentional
torts, constitutions, statute, regulation, common law, and equity (including, without
limitation, any claim for injunctive or declaratory relief). The word “Claim” or “Claims”
is to be given the broadest possible meaning and includes, by way of example and
without limitation, any claim, dispute, or controversy that arises from or relates to
(a) any Account subject to the terms of this Agreement (b) any electronic funds
transfer from or to any account, (c) advertisements, promotions, or oral or written
statements related to this Agreement or your Account, (d) your application for any
Account, and (e) the collection of amounts owed by you to us. Notwithstanding this
arbitration provision, if you have a Claim that is within the jurisdiction of the small
claims court or your state’s equivalent court, you may file your Claim there. If that
Claim is transferred, removed or appealed to a different court, then we have the right
to choose arbitration.
request of any party, shall provide a brief written explanation of the basis for the
award. In conducting the arbitration proceeding, the arbitrator shall not apply the
federal or any state rules of civil procedure or rules of evidence. Judgment upon the
award rendered by the arbitrator may be entered in any court having jurisdiction. The
arbitrator’s decision will be final and binding, except for any right of appeal provided
by the FAA and except that, if the amount in controversy exceeds $10,000.00, any
party can appeal the award to a three-arbitrator panel administered by the arbitration
administrator which shall reconsider de novo (i.e., without regard to the original
arbitrator’s findings) any aspect of the initial award requested by the appealing party.
The decision of the panel shall be by majority vote. The costs of such an appeal will
be borne by the appealing party regardless of the outcome of the appeal.
This Arbitration Provision will not apply to Claims previously asserted, or which
are later asserted, in lawsuits filed before the effective date of this Arbitration
Provision or any prior arbitration provision between you and us, whichever is earlier.
However, this Arbitration Provision will apply to all other Claims, even if the facts
and circumstances giving rise to the Claims existed before the effective date of this
Arbitration Provision.
If you have a question about the arbitration administrators mentioned in this
Arbitration Provision or would like to obtain a copy of their Arbitration Rules or fee
schedules, you can contact them as follows: American Arbitration Association,
1633 Broadway, 10th Floor, New York, New York 10019, www.adr.org,
(800) 778-7879, Commercial or Consumer Rules, J.A.M.S/Endispute, 222
South Riverside Plaza, Suite 1850, Chicago, IL 60606, www.jams-endispute.com,
(800) 352-5267, Financial Services Arbitration Rules and Procedures.
This Arbitration Provision shall survive termination of all of your Accounts subject
to this Agreement. If any portion of this Arbitration Provision is deemed invalid or
unenforceable under any law or statute consistent with the FAA, it shall not invalidate
the remaining portions of this Arbitration Provision or the Agreement. In the event
of a conflict or inconsistency between the applicable Arbitration Rules and this
Arbitration Provision, this Arbitration Provision shall govern.
Contacting Arbitration Administrators
Any Claim shall be resolved, upon the election of you or us, by binding arbitration
pursuant to this Arbitration Provision and the applicable rules of either the American
Arbitration Association or J.A.M.S/Endispute in effect at the time the Claim is filed
(the “Arbitration Rules”). You may select one of these organizations to serve as the
arbitration administrator if you initiate an arbitration against us or if either you or we
compel arbitration of a Claim that the other party has brought in court. In addition, if
we intend to initiate an arbitration against you, we will notify you in writing and give
you twenty (20) days to select one of these organizations to serve as the arbitration
administrator; if you fail to select an administrator within that twenty (20)-day
period, we will select one. In all cases, the arbitrator(s) should be a lawyer with more
than ten (10) years of experience or a retired judge. If for any reason the selected
organization is unable or unwilling or ceases to serve as the arbitration administrator,
you will have twenty (20) days to select a different administrator from the above list;
if you fail to select a different administrator within the twenty (20)-day period, we will
select one. In all cases, a party who has asserted a Claim in a lawsuit in court may
elect arbitration with respect to any Claim(s) subsequently asserted in that lawsuit by
any other party or parties.
26. Applicable Law. This Agreement and all Accounts shall be governed by the laws of
the State of Ohio (without regard for conflict of law rules) and applicable federal law,
but with respect to all fees and charges related to your Account, federal law alone
shall control.
27. Amendments; Non-Waiver; Severability. We reserve the right to change or add
to the terms and conditions of this Agreement or change the terms of your Account at
any time. We will give you such notice of the change as we determine is appropriate,
such as by statement message or enclosure, letter, or as posted in the branch, and
as required under applicable law. Where applicable law permits, we can notify you
of the changes by posting a new version of this Agreement, or a notice of change to
Accounts, in our branches.
We may decide not to enforce this Agreement or delay enforcing it in some
circumstances or at some times. If we do so, you agree that we can still enforce this
Agreement in the same circumstances at another time, in other circumstances or
at other times. If any provision of this Agreement is declared by a court to be invalid
or unenforceable, the remaining provisions of this Agreement shall be enforced and
construed as if the invalid provisions were not contained in this Agreement.
IF ARBITRATION IS CHOSEN BY ANY PARTY WITH RESPECT TO A CLAIM,
NEITHER YOU NOR WE WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM IN
COURT OR HAVE A JURY TRIAL ON THAT CLAIM, OR TO ENGAGE IN PREARBITRATION DISCOVERY EXCEPT AS PROVIDED FOR IN THE APPLICABLE
ARBITRATION RULES. FURTHER, YOU WILL NOT HAVE THE RIGHT TO
PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS OF
CLAIMANTS PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION.
EXCEPT AS SET FORTH BELOW, THE ARBITRATOR’S DECISION WILL BE
FINAL AND BINDING. YOU UNDERSTAND THAT OTHER RIGHTS THAT YOU
WOULD HAVE IF YOU WENT TO COURT MAY ALSO NOT BE AVAILABLE IN
ARBITRATION. THE FEES CHARGED BY THE ARBITRATION ADMINISTRATOR
MAY BE GREATER THAN THE FEES CHARGED BY A COURT.
28. Credit Reports. You authorize us to obtain information about you, including a
credit report, from third parties. If you ask, you will be told whether a credit report
was requested and, if so, the name and address of the credit reporting agency that
furnished the report. We may report information about your Account to a consumer
reporting agency. Overdrafts on your Account, closure of your Account and other
information related to your Account may be reported.
29. Disclosure of Account Information. We may share information within the
KeyCorp family of companies as well as with unaffiliated third parties external to
Key as described in our Privacy Policy. You specifically consent to us sharing
information within the KeyCorp family of companies and with external
unaffiliated third parties.
There shall be no authority for any Claims to be arbitrated on a class action or
private attorney general basis. Furthermore, arbitration can only decide your or our
Claim(s) and may not consolidate or join the claims of other persons that may have
similar claims. There shall be no pre-arbitration discovery except as provided for in
the applicable Arbitration Rules. Any arbitration hearing that you attend shall take
place in the federal judicial district of your residence. At your written request, we
will pay all fees charged by the arbitration administrator for any Claim(s) asserted
by you in the arbitration, after you have paid an amount equivalent to the fee, if any,
for filing such Claim(s) in state or federal court (whichever is less) in the judicial
district in which you reside. (If you have already paid a filing fee for asserting the
Claim(s) in court, you will not be required to pay that amount again.) If the arbitrator
issues an award in our favor, you will not be required to reimburse us for any of the
fees we have previously paid to the administrator or for which we are responsible.
Each party shall bear the expense of that party’s attorneys’, experts’, and witness
fees, regardless of which party prevails in the arbitration, unless applicable law
and/or this Agreement gives you the right to recover any of those fees from Us.
In the event you do not prevail in the arbitration, we will not seek to recover our
attorneys’, experts’ or witness fees from you. This Arbitration Provision is made
pursuant to a transaction involving interstate commerce, and shall be governed by
the Federal Arbitration Act (“FAA”), 9 U.S.C. Sections 1 et seq. The arbitrator shall
apply applicable substantive law consistent with the FAA and applicable statutes of
limitations and shall honor claims of privilege recognized at law and, at the timely
Note: You may elect to opt out of information sharing, or may be automatically
opted-out under your state law, as described in our Privacy Policy. If you are opted
out, that election will override this consent to share, except for those instances in
which we are otherwise permitted to share by law without your consent.
30. Electronic Authentication or Signature; Electronic Records. At our option
we may adopt or accept commercially reasonable authentication procedures and/or
electronic signatures to: (a) verify the identity of a sender of Electronic Records, (b)
determine the Electronic Record has not been altered during electronic transmission
or storage, and (c) authenticate the sender’s Electronic Signature and attribute the
Electronic Record to such sender. Each party hereto may adopt as its signature
an electronic identification consisting of symbol(s) or codes(s) (“Electronic
Signatures”), which may be affixed to or contained in electronic agreements,
records or data (“Electronic Records”) transmitted by you or us to the other party.
Such Electronic Signature so affixed to or contained in any Electronic Record shall be
sufficient to verify the originating party and to evidence such party’s acceptance of
and agreement to be bound by the terms and conditions of such Electronic Record.
Neither party shall disclose to any unauthorized person the confidential Electronic
Signature of the other party.
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31. Enforceability of Electronic Records and Signed Documents. The terms and
conditions of any Electronic Record properly transmitted by you or us to the other
party shall be considered in connection with any contemplated transaction to be a
“writing” or “in writing” and shall be considered as authenticated by an Electronic
Signature. Any Electronic Record containing an Electronic Signature (“Signed
Documents”) shall be deemed for all purposes (a) to have been “signed” and (b)
to constitute an “original” when printed from Electronic Records established and
maintained by us or our authorized agents in the normal course of business. You
agree not to contest the authorization for, or validity or enforceability of, Electronic
Records and Signed Documents, or the admissibility of copies thereof, under any
applicable law relating to whether certain agreements, files or Electronic Records
are to be in writing (documentary form) or signed by the party to be bound thereby.
Electronic Records and Signed Documents, if introduced as evidence on paper in
any judicial or other proceeding will be admissible to the same extent and under the
same conditions as other documentary business records.
• U.S. Treasury checks that are payable to you.
•Wire transfers received after 6:00 p.m. Eastern Time on a business day will be
considered received on the next business day and will not be available until that
business day.
•Cash deposits made at a KeyBank envelope ATM.
•All checks drawn on KeyBank National Association. (In some instances funds may
be available on the same business day of deposit.)
•If you make the deposit in person to one of our employees at one of our branches,
funds from the following deposits are also available on the first business day after
the day of your deposit:
–State and local government checks deposited in that state into KeyBank
accounts that are payable to you, if you use a special deposit slip which can be
obtained at the teller window.
–Cashier’s, certified, and teller’s checks that are payable to you, if you use a
special deposit slip which can be obtained at the teller window.
–Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal
money orders, if these items are payable to you.
Upon our written request, you agree to manually sign or place your signature on
any paper original of any Electronic Record or Signed Document we provide to
you containing your purported Electronic Signature. You irrevocably authorize and
appoint us as your lawful attorney-in-fact with full power and authority to sign, in
your name and on your behalf, any such original of any Electronic Record or Signed
Document, if you fail or are unable, for any reason, to sign such original no later than
ten days after our request to you to do so.
If you do not make your deposit in person to one of our employees at one of our
branches (for example, if you mail the deposit) funds from these deposits may not be
available until the second business day after the day we receive your deposit.
4. Other Check Deposits to any type of Personal deposit account including
mobile deposits made to a Personal deposit account and the following
types of Business deposit accounts: Key Business Reward Checking,
Key Business Basics Checking, KeyBank Basic Business Checking, Key
Business Checking, KeyBank Business Interest Checking, IOLTA/IOLA/
IOTA/RAHF/IORTA, Key Business Saver, Key Business Silver Money Market
Savings, Key Business Platinum Money Market Savings, Key Business Gold
Money Market Savings. The first $100 of your total deposits, excluding mobile
deposits made to a Personal deposit account, made on a business day will be
available to you on that same business day. The remaining funds from deposits of
checks will be available on the first business day after the day of your deposit. For a
mobile deposit made to a Personal deposit account, all funds will be available on the
first business day after the day of your deposit.
PART II – FUNDS AVAILABILITY POLICY
Our Funds Availability Policy for deposits to all Personal deposit account and specified
Business deposit account types described in section 4 below is to make funds from
your cash and all check deposits available to you on the first business day after the day
we receive your deposit. Our Funds Availability Policy for deposits to all other Business
deposit account types as stated in section 5 below is to make funds from your cash and
most check deposits available to you on the first business day after the day we receive
your deposit. Some check deposits will not be available until the second business day
after the day we receive your deposit. This policy applies to all deposit channels.
The sum of cash, checks, and other items which have been on deposit long enough to
be available for withdrawal under this section is called your Available Balance. We make
funds from your deposits available to you as explained below. Until funds are available,
you will not be able to use them for certain transactions. For example, you will not be able
to withdraw the funds in cash, nor will you be able to have checks certified against them.
For certain other uses, we may make funds available during this delay period; however we
may charge you for this service. Refer to the Deposit Account Fees and Disclosures for
details about any fees that may be assessed.
5. Other Check Deposits to all other types of Business deposit accounts not
listed above in section number 4. The first $200 of each deposit will be made
available on the next business day after the day of deposit and the rest of the deposit
will be available no later than the second business day after the day of deposit, with
the following exception. Checks with the first four digits of the routing and transit
numbers of 1214 or 3214 will be available no later than the third business day.
1. Determining the Availability of a Deposit. The length of the delay is counted
in business days beginning with the business day following the day of your deposit.
Every day is a business day except Saturdays, Sundays, and legal holidays. Deposits
made after 7:00 p.m. local time on any business day at an automated teller machine
(“ATM”) owned and operated by us will be considered received by us on the next
business day. You can identify ATMs owned and operated by us by the initial screen
message. Deposits made at an ATM not owned and operated by us will be available
for withdrawal within five (5) business days. Deposits made using the Mobile Deposit
service to an eligible Personal deposit account after 11:00 p.m. Eastern Time on any
business day will be considered received by us on the next business day.
6. Longer Delays May Apply. In some cases, we will not make all of the funds that
you deposit by check available at the times shown above.
Case-by-Case Hold: Depending on the type of check that you deposit, funds may
not be available until the second business day after the day of your deposit. However,
the first $200 of your total deposits made on a business day will be available to you
on that next business day.
If we are not going to make all funds from your deposit available at the times shown
above, we will notify you at the time you make your deposit. We will also tell you when
the funds will be available. If your deposit is not made directly to a bank employee at
a branch, or if we decide to take this action after you have left the premises, we will
mail you the notice not later than the close of the business day following the banking
day you made your deposit, or on the business day we learn of the reason requiring
delay.
Some of our branches have “cutoff” times. If you make a deposit at one of these
branches before the cutoff time on a business day we are open we will consider that
day to be the day of your deposit. However, if you make a deposit after the cutoff time
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 cutoff time may vary by location but will not be earlier
than 2:00 p.m. If the cutoff time is earlier than the branch closing time, the cutoff
time will be posted in the branch. The length of the delay varies depending on the
type of deposit and is explained below.
If you need the funds from a deposit right away, you should ask us when the funds
will be available.
E xception Holds: In addition, funds you deposit by check may be delayed for a
longer period under the following circumstances:
• We believe a check you deposit will not be paid.
• You deposit checks totaling more than $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months.
•There is an emergency, such as failure of computer or communications
equipment or other conditions beyond our control.
Deposits containing 500 or more checks may be subject to a branch specific cut-off
time. If a cut-off time applies it will be posted at the branch. Deposits of 500 or more
checks made at a branch before the posted cut-off time will be considered received
that business day. Deposits of 500 or more checks made at the branch after the
posted cut-off time will be considered a next-business day deposit and processed
accordingly. Cash is not subject to the cut-off time and will be verified and credited
the same-day. The cut-off time may vary by location but will not be earlier than 2:00
p.m. local time.
2. Same-Day Availability. Direct deposits of electronic payments, such as Social
Security benefits and payroll direct deposits are available on the business day that
the funds are due to you. Wire transfers received by 6:00 p.m. Eastern Time, cash
deposits made in a KeyBank branch and cash deposits made at a KeyBank image
ATM are available on the business day of deposit.
We will notify you 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
for withdrawal no later than the seventh business day after the day of your deposit. In
case of emergency conditions, a notification of any delay in your ability to withdraw
funds will be provided within a reasonable time and in a reasonable manner given
the emergency circumstances unless funds subject to this delay are made available
before such notification must be provided.
3. Next-Day Availability. Funds from the following types of deposits and check
deposits as described in section number 4 below are available on the first business
day after the day of your deposit.
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7. Special Rules for New Accounts. If you are a new customer, the following special
rules may apply, at our discretion, during the first 30 days your account is open
instead of the rules described above.
Funds from electronic direct deposits to your account will be available on the business
day that the funds are due to you. Funds from deposits of cash, wire transfers, and
the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s,
and federal, state and local government checks will be available on the first business
day after the day of your deposit if the deposit meets certain conditions. For example,
the checks must be payable to you (and you may have to use a special deposit slip).
The excess over $5,000 will be available no later than the ninth business day after
the day of your deposit. If your deposit of these checks (other than a U.S. Treasury
check) is not made in person to one of our employees, the first $5,000 will not be
available until the second business day after the day of your deposit.
Funds held from all other check deposits will be available on the ninth business day
after the day of your deposit.
8. Hold on Other Funds. If we cash a check for you that is drawn on another bank, we
may withhold the availability of a corresponding amount of funds that are already in
your account. Those funds in your account will be available 2 business days after the
day the check is cashed.
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DISCLOSURE STATEMENT AND TERMS AND CONDITIONS
FOR ELECTRONIC FUND TRANSFER TRANSACTIONS
Important Information about your KeyBank Debit MasterCard®,
KeyBank Enhanced Debit MasterCard, KeyBank World DebitTM MasterCard®,
KeyBank ATM Card and other Electronic Fund Transfer Services.
purchased or sold through a broker-dealer regulated by the Securities and
Exchange Commission or through a futures commission merchant regulated by
the Commodity Futures Trading Commission; or (iii) held in book-entry form by
a Federal Reserve Bank or federal agency; (4) any transfer of funds under an
automatic payment program (without a specific request by you) between your
accounts or family member accounts maintained by us, or to your loan account
with us; and (5) any transfer of funds you request by phone call be initiated by
us, which does not take place under a telephone bill-payment or other written
plan in which periodic or recurring transfers are contemplated.
July 23, 2016
KeyBank National Association
Member FDIC
INTRODUCTION
2. ADDRESS AND TELEPHONE NUMBER.
Federal law requires that consumers who make use of a Bank’s electronic fund transfer
services in connection with certain deposit accounts receive the disclosures contained
in this Disclosure Statement and Terms and Conditions (“Disclosure and Terms”)
before using the service. An electronic fund transfer (“EFT”), generally, is a transfer of
funds initiated electronically. Use of one of our cards (“Card”), a KeyBank ATM Card,
a KeyBank Debit MasterCard®, KeyBank Enhanced Debit MasterCard, KeyBank World
DebitTM MasterCard® or a credit card with features permitting access to your deposit
accounts is an electronic fund transfer (“EFT”). Transfers initiated via the Bank’s
automated telephone service and payments you authorize using pre-authorized credits
and debits to your account also are EFTs. Some of the disclosures apply only to cardoriginated EFTs. Some disclosures apply only to pre-authorized credit and debit EFTs.
The others apply to all EFTs at this Bank. This Disclosure and Terms does not apply to (i)
credit card accounts; (ii) any Card used directly to initiate a credit transaction; or (iii) a
Card issued by KeyBank under its Affinity partner program. EFTs do not include automatic
transfers between your accounts with this Bank.
If you believe your Card has been stolen or that someone has transferred or may
transfer money from your account without your permission, call 1-800-KEY2YOU®
(1-800-539-2968) (TTY/TDD 1-800-539-8336) 24 hours daily, or write:
KeyBank, Customer Disputes, NY-31-17-0128, 17 Corporate Woods Blvd.,
Albany, NY 12211.
NOTE: In order to minimize the risk of losses from lost or stolen cards or PINS, we
strongly suggest that you call us immediately and then confirm in writing.
3. BUSINESS DAYS.
Our business days are Monday through Friday. Saturdays, Sundays, and any of the
legal public holidays are not business days.
4. DEFINITION AND IDENTIFICATION OF TERMINALS AVAILABLE TO
CARDHOLDERS.
In this Disclosure and Terms, the words “you” and “your” mean each consumer who
makes use of the Bank’s EFT services. “PIN” means any Personal Identification Number
used in conjunction with a Card for certain types of transactions and “Telephone PIN”
means the Personal Identification Number used in conjunction with the automated
telephone transfer. The words “we”, “us”, or the “Bank” mean KeyBank National
Association where you maintain your Account. “Line of credit” means any one or more
of the credit accounts (Credit Card, Overdraft Credit Line or other Credit Line) that, upon
application and approval by the Bank, are accessible through your deposit account.
For purpose of this Disclosure and Terms, a “terminal” includes automated teller
machines (“ATM”), point of banking (“POB”), and point of sale (“POS”) terminals
(special store terminals at which payment for purchases may be made). An ATM
terminal can be used without the assistance of another person and the use of a PIN
is required to complete a transaction. POB terminals are used with the assistance of
another person, and the use of a PIN is required.
There are two types of point of sale transactions. The first type utilizes special
store terminals at which payment for purchases can be made (“POS/PIN”). POS/
PIN terminals are used with the assistance of a retail store clerk or other operator
and require the use of a PIN. All such persons are agents of the merchant and
not of the Bank. The second type of point of sale transaction (“POS”) does not
require the use of a PIN. The POS transaction is made by presenting your KeyBank
Debit MasterCard, KeyBank Enhanced Debit MasterCard or KeyBank World Debit
MasterCard at the time of purchase to merchants who have agreed to accept
Card purchase transactions. A signature may be required to authorize this type of
transaction. Located on or near each ATM terminal is a listing of the card issuers
and networks whose cardholders may use the terminal. Sometimes symbols are
used instead of names. In most cases, a larger or more conspicuous sign or symbol
will identify the terminal owner or operator. As used in this Disclosure and Terms,
a “KeyBank terminal” is an ATM located at a KeyBank branch location or those
terminals otherwise identified as KeyBank owned terminals. Refer to the network
symbols on the back of your Card for all other terminal access. Offsite ATMs in
Colorado that are owned and operated by KeyBank are not permitted to display the
KeyBank name or logo. Please contact your local KeyBank for a listing of all KeyBank
ATM locations in Colorado.
1.LIABILITY FOR UNAUTHORIZED TRANSFERS.
T ell us AT ONCE if you believe your Card or any Personal Identification Number (“PIN”)
has been lost or stolen. Telephoning is the best way of keeping your possible losses
down. Also, if your statement shows transfers that you did not make, tell us at once.
If you do not tell us within 60 days after the statement was mailed to you, you may
not get back any money you lost after the 60 days if we can prove that we could have
stopped someone from taking the money if you had told us in time. If a good reason
(such as a long trip or hospital stay) kept you from telling us, we will extend the time
period.
(a)You could lose all the money in your account, plus your maximum line of credit
in your line of credit account. If you tell us within 2 business days, you can lose
no more than $50.00 if someone used your Card without your permission. If
you do not tell us within 2 business days after you learn of the loss or theft of
your Card, and we can prove we could have stopped someone from using your
Card without your permission if you had told us, you could lose as much as
$500.00.
(b)Zero Liability Rule. You will have “Zero Liability” for unauthorized use of your
Card only if the following conditions are met: (i) you have exercised reasonable
care in safeguarding your Card from the risk of loss, theft or “unauthorized
use” and (ii) upon becoming aware of such loss, theft or unauthorized use of
the Card you promptly report the loss, theft or unauthorized use to us. If you
fail to satisfy any of these conditions for a non-PIN or a PIN Card Transaction
and someone uses your Card without your authorization, you could lose the
entire Card Balance. For purposes of this rule, “unauthorized use” means the
use of a MasterCard-branded card by a person other than you who does not
have actual, implied, or apparent authority for such use, and from which you
did not receive any benefit. Zero Liability does not apply: (a) to Cards issued to
entities that are not natural persons; (b) to Cards issued primarily for business,
commercial or agricultural purposes that are not MasterCard Business Card
programs; or (c) to Cards issued or distributed outside MasterCard’s U.S.
Region.
(c)E xclusions from scope of Regulation E. Pursuant to applicable federal law,
your limited liability under Section 1 of this agreement for unauthorized use of a
Card or for other unauthorized electronic funds transfers does not apply to: (1)
any transfer of funds originated by check, draft or similar payment instrument
or made by such instrument at an electronic terminal; (2) any transfer of funds
through Fedwire or similar wire transfer system used by a financial institution;
(3) any transfer of funds the primary purpose of which is the purchase or
sale of a security or commodity, which is (i) regulated by the Securities and
Exchange Commission or the Commodity Futures Trading Commission; (ii)
5.
T YPES OF AVAILABLE TRANSACTIONS AND LIMITS ON TRANSACTIONS
INITIATED USING YOUR BANKING CARD.
(a)Account Access. Your Card will permit you to make transactions on Checking
Accounts and/or Savings Accounts as defined in your Deposit Account
Agreement and Funds Availability Policy. You may use your Card to:
1.Make deposits to and withdraw cash from your designated Checking or
Savings Accounts.
2.Pay for purchases out of your Checking or Savings Accounts at retail POS/
PIN terminals.
3.Pay for purchases out of your Checking Accounts with a KeyBank Debit
MasterCard, KeyBank Enhanced Debit MasterCard or KeyBank World Debit
MasterCard at retail POS locations.
4.Transfer funds between designated Accounts.
5.Access, through your designated deposit Accounts, your lines of credit (as
long as you are in compliance with all of the terms of your line of credit
agreements), make payments to, or receive advances from your lines of
credit.
6.Withdraw from your Credit Card or Credit Line (“Cash Advance”).
7.Make payments to KeyBank Credit Cards, Credit Lines, and Installment
Loans.
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8.Purchase items such as postage stamps, transportation tickets or other
items of value at certain Terminals accessible by the Card.
9.Make balance inquiries to your Checking or Savings Account, or Line of
Credit.
10.Conduct other transactions as services and features are added to the
automated banking system. Some of the terminal services listed above may
not be available at all terminals. Deposit transactions are available at Key
Bank terminals, subject to limitations under applicable state laws.
11.Restrictions on use. KeyBank will restrict use of your Card in any
jurisdiction or country where such use would be contrary to applicable law
or regulation, or which is identified as presenting a high risk of fraud. Please
call 1-800-KEY2YOU for the current list of countries where transactions
are restricted.
(b) Limits on Dollar Amount of Transactions.
1.
Separate withdrawal and purchase limits apply. Total withdrawals or
purchases in any one day may not exceed the separate Daily Limits for
a single Card number, regardless of the number of Accounts that a single
Card may access. You will be allowed to make transactions up to the
available balance in your Account plus any available line of credit balance
or up to the maximum Daily Limit, whichever is less. The Daily Limits are as
follows:
Debit Cards
Daily Signature/PIN
Purchase Limit
$5,000
$300
KeyBank Enhanced
Debit MasterCard
$7,500
$500
(For Key Private Bank
clients) KeyBank
Enhanced Debit
MasterCard
$7,500
$1,000
(For Key Privilege
clients) KeyBank
Enhanced Debit
MasterCard
$7,500
$1,000
$10,000
$1,000
$500 PIN only
$300
(For Key
Privilege Select
clients) KeyBank World
Debit MasterCard KeyBank ATM Card
7. CHARGES FOR TRANSACTIONS, TRANSFERS AND OTHER SERVICES.
(a)KeyBank ATM Card, KeyBank Debit MasterCard, KeyBank Enhanced
Debit MasterCard or KeyBank World Debit MasterCard. For each KeyBank
ATM Card, KeyBank Debit MasterCard, KeyBank Enhanced Debit MasterCard
or KeyBank World Debit MasterCard withdrawal, transfer, transaction or
balance inquiry at any electronic terminal other than a KeyBank terminal in the
United States, you will be charged a fee of $2.50. For each KeyBank ATM Card,
KeyBank Debit MasterCard, KeyBank Enhanced Debit MasterCard or KeyBank
World Debit MasterCard withdrawal, transfer, transaction or balance inquiry at
any electronic terminal outside of the United States, you will be charged a fee
of $5.00. For a transfer between accounts, the fee is charged on the account
from which the funds are transferred.
These fees will not be charged for transactions involving a Key Advantage
Money Market Checking Account, Key Privilege, Key Privilege Select Account
or a Key Student Checking Account.
(b)KeyBank ATM Card Charge. If you possess only a KeyBank ATM Card
and not a KeyBank Debit MasterCard, KeyBank Enhanced Debit MasterCard
or a KeyBank World Debit MasterCard your primary account linked to the
KeyBank ATM Card will be charged a $1.00 monthly KeyBank ATM Card fee.
If you possess only a KeyBank ATM Card and any of the three KeyBank Debit
MasterCards or only a KeyBank Debit MasterCard, KeyBank Enhanced Debit
MasterCard or a KeyBank World Debit MasterCard you will not be charged this
fee.
(c)ATM Mini Statement Fee. If you select the transaction titled “Statements”
at a KeyBank ATM you may receive a mini statement. This “mini statement”
transaction will provide you with four options; the last five debit card
transactions, the last five checks paid, the last five deposits made or the last
ten transactions made on your checking or savings account. Each option is
considered a separate transaction and your account will be assessed a $1.50
fee for each requested transaction. The information provided is based on our
system retention schedule. The “ATM Mini Statement” neither represents nor
replaces your periodic bank account statement.
(d)
Terminal transactions affecting your Credit Account are subject to the normal
charges applied to those accounts.
(e)Account to Account Transfer Charge. A $3.00 charge will be assessed
to the Account from which the funds are transferred for transfers between
accounts completed by a Bank representative.
(f)Card Replacement Charge. If you request a replacement Card a charge of
$5.00 will be assessed. If you request that a replacement Card be overnighted
to you, a charge of $25.00 will be assessed. The charge will be reflected on
your statement as “Banking Card Replacement Charge”.
(g)Excess Withdrawal/Transfer Charge. Money Market Savings Accounts.
If the number of withdrawals/transfers made to another KeyBank account of
yours or to a third party by means of a preauthorized or automatic transfer or
telephonic (including data transmission) agreement, order or instruction, or by
check, draft, debit card, or similar order and payable to a third party exceeds a
total of seven (7) per monthly period, your account will be charged $15.00 for
each transfer or payment over the limit. Savings Accounts. If the number of
withdrawals/transfers made to another KeyBank account of yours or to a third
party by means of a preauthorized or automatic transfer or telephonic (including
data transmission) agreement, order or instruction, or by debit card, or similar
order and payable to a third party exceeds a total of seven (7) per monthly
period, your account will be charged $5.00 for each transfer or payment over
the limit.
(h)Other Bank Charges. Other service charges will be the same as the Bank
charges you in connection with the general use of your account(s). Some
accounts have charges for the periodic statements that are sent to you. For
some accounts, a fixed amount service charge is imposed if your balance
falls below a certain amount. Neither of these kinds of charges is related to
EFT transactions. Some accounts have transaction charges for withdrawals,
Daily ATM
Withdrawal Limit
KeyBank Debit
MasterCard
4.As long as you are in compliance with all of the terms of your line of credit
agreements, make payments to, or receive advances from, your lines of
credit.
(b)Limits on Dollar Amounts. There is no minimum transfer amount required
for transfers completed by the automated telephone transfer service. There is
no limit on the maximum dollar amount of transfers or transactions made so
long as there are enough funds available in your account to make them.
(c)Limits on Frequency. Other than as shown below, there is no limit on the
number of transfers, transactions or inquiries. Savings Accounts are limited to
six third-party pre-authorized withdrawals or transfers (including telephonic
transfers) per monthly statement period. Check writing, POS and POS/PIN
purchases reduce the number of transfers available by other means.
(d)Recording Permitted. The Bank shall have the right to record, by any
technical means, any telephone banking transaction or inquiry.
2.At some types of ATMs, the withdrawal amount may be limited due to
machine constraints, and multiple transactions may be necessary to obtain
the total amount desired.
(c) Limits on Frequency of Transactions.
Other than shown below, there is no limit on the NUMBER of deposits,
withdrawals, purchases, transfers, or inquiries.
1.Savings Accounts are limited to six third-party pre-authorized or automatic
withdrawals or transfers per monthly statement period. There is no limit on
the number of ATM withdrawals per monthly statement period.
2.The number of purchases with a KeyBank Debit MasterCard, KeyBank
Enhanced Debit MasterCard or a KeyBank World Debit MasterCard is
limited to twenty (20) per day.
3.Passbook Savings Account rules do not permit pre-authorized withdrawals
or transfers from the account. ATM transactions are also not permitted.
(d) Electronic Check Conversion.
You may authorize a merchant or other payee to make a one time electronic
payment from your checking account using information from your check to: (i)
Pay for purchases. (ii) Pay bills.
6.TYPES OF AVAILABLE TRANSFERS INITIATED USING TELEPHONE BANKING
AND LIMITS ON THEM.
(a)Account Access. Your Telephone Banking Personal Identification Number
(“Telephone Banking PIN”) will permit you to make transactions on your
Account(s) as specified on your Application for Telephone Transfer Service. You
may use this service PIN to effect the following transfers or inquiries on your
KeyBank accounts:
1.
Transfer funds from your Checking Account to any other authorized
Accounts.
2.Transfer funds from your Checking Accounts to your Savings Accounts, or
from your Savings Accounts to your Checking Accounts.
3.Make balance inquiries to your Checking or Savings Accounts.
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(b)Notice of Varying Amounts. If these regular payments may vary in amount,
the person you are going to pay 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.
Liability for Failure to Stop Payment of Pre-authorized Payment. If you
(c)
order us to stop one of these payments three (3) business days or more before it
is scheduled and we do not do so, we will be liable for your losses or damages.
whether the withdrawal is made by paper or an EFT. All other charges are
detailed in our Personal Deposit Account Fees and Disclosures, and will be
reflected on your statement. For advances received from your line of credit
account, there are other charges which are not related to EFT transactions. You
should consult your credit agreements for information relating to these charges.
(i)Possible Fees By Third Parties. When you use an ATM not owned by
KeyBank, you may be charged a fee by the ATM operator or any network used
to complete the transfer (and you may be charged a fee for a balance inquiry).
8. DISCLOSURE OF ACCOUNT INFORMATION.
11.BANK’S LIABILITY FOR FAILURE TO COMPLETE EFT TRANSACTIONS.
We may share information within the KeyCorp family of companies as well as with
unaffiliated third parties external to Key as described in our Privacy Policy. You
specifically consent to us sharing information within the KeyCorp family of
companies and with external unaffiliated third parties.
If we do not complete an EFT transaction or transfer on time or in the correct amount
according to our agreement with you, we will be liable for your losses or damages.
However, there are some exceptions. We will not be liable, for instance:
(a)If you do not have enough money in your account to make the transfer;
(b)If the transfer will go over the credit limit on your line of credit or if your
agreement has been terminated;
(c)If the authorized terminal or system was not working properly and you knew
about the breakdown when you started the transaction;
(d)If there is a dispute about the amount or we have been ordered to pay to or hold
for someone else the money in your account;
(e)If a withdrawal would consist of money deposited in the form of a check or other
order and the funds are not yet available for withdrawal;
(f)If you have told us that your Card was lost or stolen or that you believe someone
else has obtained your PIN or your Telephone PIN;
(g)If an employee of a merchant does not properly handle a Card transaction at a
terminal;
(h)If, in the case of a pre-authorized credit to your account, a third party does not
send your money to us on time or does not send us the correct amount;
(i)If circumstances beyond our control (such as fire or flood) prevent the EFT
transaction, despite reasonable precautions that we have taken;
(j)If the automated teller machine where you are making the transaction does not
have enough cash.
NOTE: You may elect to opt out of information sharing, or may be automatically
opted-out under your state law, as described in our Privacy Policy. If you are opted
out, that election will override this consent to share, except for those instances in
which we are otherwise permitted to share by law without your consent.
We will not disclose information about your account or the transactions or transfers
you make related to your Account under this Agreement except:
(a)if the information is provided to help complete a transaction you initiated;
(b) when you request or consent to the disclosure;
(c)for the exchange of information with reputable credit reporting agencies to
maximize the accuracy and security of such information;
(d)in performance of bona fide corporate due diligence and/or in connection with
a merger, acquisition or divestiture that involves your account;
(e)in order to comply with applicable law, government regulation, or legal process
(such as a court order or subpoena); or
(f)if you have been informed about the possibility of such disclosure.
9. YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS.
(a)Terminal Transactions. You will get a receipt at the time you make any
transaction to or from your account using a terminal in the United States
authorized for use by the Bank.
(b)Pre-authorized Credits. If you have arranged to have recurring direct
deposits made to your account at least once every 60 days, you can call us
at 1-800-KEY2YOU (1-800-539-2968) (TDD 1-800-762-4833) to find out
whether the deposit has been made. For your protection, we may require
identifying details about your account before we provide you this information.
(c)Periodic Statements. You will receive a monthly account statement whenever
an EFT has occurred during the month. In any case, you will receive a statement
at least quarterly.
(d)Account Where the Only Possible Electronic Fund Transactions are
Pre-Authorized Credits. For this type of account, you will receive an account
statement at least quarterly.
(e)Passbook Accounts. If you bring your passbook to us we will record any
electronic deposit that we made to your account since the last time you brought
in your passbook.
There may be other exceptions stated in our agreement with you.
12.ERROR RESOLUTION NOTICE – IN CASE OF ERROR OR QUESTIONS ABOUT
YOUR ELECTRONIC TRANSFERS.
Telephone or write us using the address and telephone number provided in Section
2 of this Disclosure and Terms as soon as you can, if you think your statement
or receipt is wrong or if you need more information about a transfer listed on the
statement, or receipt. We must hear from you no later than 60 days after we sent you
the FIRST statement in which the problem or error appeared.
(a)Tell us your name and account number.
(b)
Describe the error or the transfer you are unsure about, and explain as clearly
as you can why you believe it is an error or why you need more information.
(c)
Tell us the dollar amount of the suspected error. If you tell us orally, we may
require that you send us your complaint or question in writing within 10 business
days. We will tell you the results of our investigation within 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 45 days to investigate your complaint or
questions. If we decide to do this, we will credit your account within 10 business
days for the amount you think is in error, so that you will have the use of the
money during the time it takes us to complete our investigation. If we ask you
to put your complaint or question in writing and we do not receive it within 10
business days, we may not credit your account.
10. YOUR RIGHT TO STOP PAYMENT OF PRE-AUTHORIZED PAYMENTS FROM
YOUR ACCOUNT; PROCEDURE FOR DOING SO; RIGHT TO RECEIVE NOTICE
OF VARYING AMOUNTS; BANK’S LIABILITY FOR FAILURE TO STOP
PAYMENT. (You may NOT stop payment on any transfer initiated via Telephone
Banking or any transaction made with your Card.) If you have pre-authorized regular
payments out of your account, you can stop any of these payments. To do this,
telephone or write us using the telephone number and address provided in Section 2
of this Disclosure and Terms. Certain time limits apply:
(a)
Single Pre-authorized Payments and Series of Pre-authorized
Payments. If you wish to stop a single pre-authorized payment or a series of
pre-authorized payments to be made to the same person or company over a
period of time, we must receive your request three (3) business days, or more,
before the single payment or next payment in a series is scheduled to be made.
If you request stop payment on a series of pre-authorized payments, we will
then block all future payments to that payee. A stop payment confirmation will
be mailed to you. You must review the specific details on the confirmation for
accuracy and call the Bank immediately if any of the information is not accurate.
A stop payment request is effective for only six (6) months, unless you renew
it. Also, we may require a copy of the notice that you sent to the payee who
was to receive the pre-authorized payments requesting that the payments be
discontinued. We will charge you our regular stop payment charge for each
stop payment request you give; this charge is detailed in the Personal Deposit
Account Fees and Disclosures.
We will tell you the results within 3 business days after completing our investigation.
If we decide that there was no error, we will send you a written explanation. You may
ask for copies of the documents that we used in our investigation.
NOTE: If the notice of error involves an EFT that occurred within 30 days after the
first deposit to the account was made, we may extend the 10 day time period to 20
days. If the notice of error involves an EFT that was not initiated within the United
States, the District of Columbia or Puerto Rico, resulted from a POS transaction, or
occurred within 30 days after the first deposit to the account was made, we may
extend the 45 day time period to 90 days.
13. OTHER TERMS AND CONDITIONS.
(a)Use and Care of the Card. If you use the Card at a merchant location, the
merchant acts for you (as your agent) in completing the transaction. Use of the
Card is also subject to the rules of the government agencies which regulate
banks. You will take care of your Card and will not give the Card or any PIN to
any other person or write your PIN on the Card. If it is lost or stolen, you will
notify us immediately.
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(b)Prohibited Activity. It is your responsibility to use the card only for valid
and lawful purposes. If you use the Card for any other purpose or transaction,
including without limitation unlawful gambling activities, (herein called a
“Prohibited Activity”), you must promptly reimburse KeyBank and MasterCard
International Incorporated for all amounts or expenses either KeyBank or
MasterCard pays as a result of such use. KeyBank reserves the right to
block Prohibited Activity and/or to not approve any authorization request for
a Prohibited Activity. Card transactions for any Prohibited Activity made by or
for the benefit of you shall be considered authorized by you, and you assume
all responsibility and liability for all losses, costs and expenses you incur as a
result of such use.
(c)
Foreign Transaction Fees. If you use your Card in a foreign country,
including a Card Transaction you initiate in the U.S. with an entity located in
a foreign country, a foreign Card transaction fee will be charged. The fee is
3% of the transaction amount; such transactions include, without limitation,
cash advances, ATM withdrawals, and purchases of goods and services. If you
use your Card to make a Card Transaction outside of the United States in a
foreign currency, MasterCard will convert the Card Transaction amount into
U.S. dollars using a wholesale market rate or a government-mandated rate in
effect on the processing date (which may differ from the rate on the date of
your transaction). The rate used may differ from the rate MasterCard actually
receives.
This fee will not be charged for foreign Card Transactions involving a Key
Privilege Select Account.
(d)Overdrawing your Account. You agree that you will not use the Card to
overdraw your account. If an overdraft in your account does occur, you will pay
the full amount of the overdraft to the Bank immediately upon request and the
then current fee for overdrafts. This paragraph does not apply to your line of
credit account(s).
(e)Line of Credit Accounts Only. As applicable, if you use the Card or your
Telephone PIN to withdraw money from your deposit account and the withdrawal
creates an overdraft in your deposit account, a loan will be made to you in
accordance with your line of credit account agreement to cover the amount
of the overdraft, provided that you are not in default under the agreement; the
availability of credit has not been suspended; the agreement has not been
terminated either by you or the Bank; and that you do not exceed your credit
limit. Using your Card and PIN or Telephone PIN to make a withdrawal when
there is not enough money in your deposit account is a written order by you
requesting the loan. You agree that you will not use your Card or any PIN to
overdraw your deposit account, except to make these loans. If an overdraft in
your deposit account in excess of your available credit limit does occur, you will
pay the full amount of the overdraft and applicable charge to us immediately
upon request.
(f)Legal Action. If we initiate any legal action to collect money owed to us under
this agreement, including any counterclaim, you agree to pay all our costs for
such action, including any reasonable attorneys’ fees. This provision does not
apply to any action in connection with any credit account. In such cases, the
credit agreement will govern these costs.
(g)Arbitration Provision. Refer to your Deposit Account Agreement and Funds
Availability Policy for the Arbitration Provision.
(h)Claims and Defenses Against Merchants. We are not responsible for
goods or services you purchase or lease by using a Card for a POS transaction
or POS/PIN transaction. We are not subject to any claims or defenses you may
have against a merchant in connection with any POS transaction or POS/PIN
transaction or the underlying merchant transaction.
affect your obligations under this agreement for transactions or transfers completed
with your Card or any PIN, even if those transactions or transfers are completed after
the ending date.
16. NOTIFICATION TO REGULATORY AUTHORITY.
This agreement is governed by state and federal laws. If any violation occurs you may
contact:
Consumer Financial Protection Bureau
P.O. Box 4503
Iowa City, Iowa 52244
KEYBANK REWARDS PROGRAM TERMS AND CONDITIONS
These terms and conditions (the “Program Rules”) are provided by KeyBank National
Association (“KeyBank”) to govern the use of the KeyBank Rewards® Program (the
“Program”). Services provided by the KeyBank Rewards Program are additionally
governed by any other separate agreement(s) Customer may have with KeyBank, and any
amendments or changes made to these Program Rules.
By enrolling in the Program, Customer agrees to be bound by these Program Rules.
From time to time we may change the Program Rules. When any change is made, we will
post revisions at our website and/or we will notify you in writing, as applicable. It is your
responsibility to review the Program Rules to be aware of any changes. Your continued
participation or failure to terminate your participation in the Program will evidence your
acceptance of the changes and your agreement to be bound by them.
“Customer,” “you” or “your” shall mean the person, persons or entities in whose
name the Rewards Account is carried on the books of KeyBank and shall include the
masculine and feminine genders and the plural as well as the singular wherever the
context so permits. “Us,” “our” and “we” shall mean collectively KeyBank and all of its
affiliates and subsidiaries. “Consumer” means an individual non-business Customer
and a “Business” means a business Customer. Notices and other communications to a
Business Customer will be made to the Business.
I.
REWARD PROGRAMS
Under the Program, you may earn and use points (“Rewards Point(s)”) to obtain
a variety of rewards (“Rewards”) including merchandise, gift cards, travel rewards,
cash back and domestic U.S. air travel rewards as full payment for goods or services
available through us. You may earn Rewards Points as set forth in Section III below.
Until April 2015 KeyBank maintained two rewards programs, the “Basic Rewards
Program”, and an enhanced rewards program with additional ways to earn points
known as the KeyBank Relationship Rewards Program (“Relationship Rewards
Program” or “Relationship Rewards”). As of April 2015, the Basic Rewards
Program was terminated and all enrolled Customers are now Customers of the
Relationship Rewards Program. The Program Rules will govern the Program, as may
be amended from time to time.
If you are enrolled in the Program, you will have a rewards account (“Rewards
Account”) as further described in Section IV.1.
II. ENROLLMENT & ACCESS TO REWARDS ACCOUNT.
1.Generally. To receive benefits under the Program, enrollment of one or more
Eligible Products is necessary. Any Signer on an Eligible Product may enroll
such Product into the Program, and once an Eligible Product is enrolled, then
all other Signers of such enrolled Eligible Product will automatically be enrolled
into the Program. Annual Fees are assessed based upon the Eligible Product(s)
which is/are enrolled and the type of Program chosen. The ability to earn points
varies upon the Eligible Products which are enrolled in the Program all as
further detailed below in Section III entitled Earning Points.
2.
Enrollment. Enrollment enables Rewards Points to begin accruing relative to
an Enrolled Product and/or an Enrolled Signer.
(a)
Eligible Checking Accounts. To enroll, any Signer on an Eligible
Checking Account may call Key’s Customer Service (1-800-KEY2YOU or
1-888-KEY4BIZ), log into Key’s Online Banking (if such Signer is enrolled
in Online Banking), or visit a KeyBank branch. KeyBank will process your
enrollment request as to the Eligible Checking Account and thereafter
enroll all Signers of such Eligible Checking Account. An Eligible Checking
Account that has been enrolled in the Program will be referred to in this
Agreement as an “Enrolled Checking Account.”
(b) Eligible Credit Card Accounts. All Signers on a credit card issued by
KeyBank on or after May 24, 2013, and bearing a plastic number with
the first 6 digits of 524924, 519945, 552356, or 519731, (herein an
“Eligible Credit Card”), are automatically enrolled in the Relationship
Rewards Program and the Eligible Credit Card is also automatically
enrolled. From time to time KeyBank may determine that other credit card
accounts, which it has acquired or which it may hereafter acquire, are
eligible to join the Program, subject to additional terms and conditions.
14. RULES AND REGULATIONS.
Your first use of your Card or your Telephone PIN, or your giving us a written
authorization to make pre-authorized debits or credits to your account will be your
agreement to the Bank’s Deposit Account Agreement and Personal Deposit Account
Fees and Disclosures relating to your account and these “Terms and Conditions for
Electronic Fund Transfer Transactions.”
15. AMENDMENT AND CANCELLATION.
We may amend (change) the Terms and Conditions by giving you written notice at
any time, except we will give you twenty-one (21) days’ prior written notice if the
change would result in increased fees or charges, increased liability for you, fewer
types of available fund transfers, or stricter limitations on the frequency or dollar
amount of transfers. We are not required to give you prior notice where an immediate
change is necessary to maintain or restore the security of our EFT system. However,
if such a change is made permanent, we will give you appropriate notice. We may
also cancel your privilege to use the Card and any PIN, even without telling you in
advance. If we do this, you will return all cards to us at once. You may terminate this
agreement at any time by notifying us in writing. If you do this, you also must return
all Cards to us at once. We may close or not reissue your ATM or Debit Card if there
has not been any activity on the Card for 12 months. Ending this agreement will not
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(c)
Conversion Credit Card Accounts. Key has converted, and will
from time to time convert various credit card portfolios to KeyBank’s
Relationship Rewards Program all as set forth in Section II of Schedule II.2
(herein the “Conversion Accounts”). All Conversion Accounts will both
be a subset of Eligible Credit Cards and unless specifically designated
otherwise, will have the same terms and conditions of all other Eligible
Credit Cards.
3.
Access. You may access your Rewards Account by the following methods,
subject to the limitations set forth below.
(a)Electronic access. You must be enrolled in Key’s electronic online
banking which is known as Online Banking for consumer customer access
and Key Business Online for business customers. For information on how
to access KeyBank’s Online Banking or Key Business Online website, and
enroll if you are not yet enrolled, please visit www.key.com. Once you have
entered Key’s Online Banking website or Key Business Online, you can
click on the rewards link to access your Rewards Account which will take
you to KeyBank’s rewards website (herein referred to as the “Rewards
Website”). The only way to electronically access the Rewards Website is
through Online Banking or Key Business Online websites.
(b)
Telephone access. You may call 1-888-333-7780 to access the
KeyBank Rewards Center (“herein the “KeyBank Rewards Center”) to
redeem Rewards Points. Representatives are available Monday through
Friday, 7 a.m. to 9 p.m. EST and Saturday through Sunday, 9 a.m. to
6 p.m. EST.
(c) Limitations.
i.
For certain Conversion Accounts, until your Credit Account has
been issued new Credit Cards with multi-card functionality, only the
Primary Signer on the Credit Card will have the ability to access the
Rewards Website electronically and all other Signers of such Credit
Card Account will need to access the Rewards Website through
telephonic access. Once your Credit Card Account has been provided
multi-card functionality, all Signers will be able to access the Rewards
Website through electronic access.
ii.For all Business Credit Card Accounts that use Key Business Online
to access their Credit Card Account, only the Primary Signer, and if
applicable the administrator designated pursuant to section II.5.(b)(ii)
above, will be able to sign into the Rewards Website.
4. Eligible Products. A product eligible for enrollment in the Program is a
checking account or a credit card account listed in Table 1 of this Section II
(referred to singularly as an Eligible Checking Account or an Eligible
Credit Card Account or an “Eligible Product” or collectively as “Eligible
Products”), except that a checking account listed in Table 1 will not be
considered an Eligible Checking Account if such account is opened as an
agency account, custodial account, estate account, or guardianship account.
Eligible Products may become ineligible as set forth in Section VI below. Debit
cards are no longer eligible for enrollment on a stand alone basis; rather, usage
of a debit card that accesses an Enrolled Checking Account (herein a “Debit
Card”) is permitted to earn points as set forth in Section III.
5.
Signers and Primary Signers. A “Signer” always refers to an individual
and not to an entity, organization, trust or other business. Signers for Eligible
Checking Accounts and Eligible Credit Card Accounts are further defined as
follows:
(a)
Signer on an Eligible Checking Account. A signer is an individual who
signs a signature card (i) in his or her own individual capacity, or (ii) on
behalf of an entity, organization or trust. Additionally, a signer may be a
person designated on KeyBank’s systems, books or records as being a
signer. The owner of an account may be different than the actual signers.
A signer includes sole owners, co-owners, powers of attorney, authorized
minor users and trustees. An authorized user of a Debit Card who has
not signed the signature card, is not a Signer for the purposes of this
Agreement or the Program.
(b)
Signer on an Eligible Credit Card Account. A signer is an individual
who is obligated to repay the outstanding amount under an Eligible Credit
Card. A signer includes a borrower, co-borrower or guarantor of the
Eligible Credit Card. Additionally, if the Eligible Credit Card is a business
credit card for which the business is the obligor, then signer shall also
include (i) the individual who is the legal representative of the business
who applied for the business to receive the Eligible Credit Card and/or
(ii) an administrative person the Business has designated to manage the
Rewards Account including viewing and redeeming Points earned by the
business. Additionally, a signer may be a person designated on KeyBank’s
systems, books or records as being a signer. An authorized user of an
Eligible Credit Card who is not a signer as defined in this subsection is not
a Signer for the purposes of this Agreement or the Program.
(c)
Primary Signer. The “Primary Signer” is the Signer whose name
appears first on our records for the Eligible Checking Account. For an
October 2013 Conversion Account, an October 2014 Conversion Account
or an October 2016 Conversion Account, the Primary Signer will be the
borrower, and all co-borrowers and/or guarantors will be considered other
Signers.
6. Annual Fee. The annual membership fee will depend on the type of Eligible
Product you have enrolled and the Rewards Program you are enrolled in
as set forth in the chart below. There is no annual membership fee if you
are enrolling in the Program solely by virtue of being a signer on an Eligible
Credit Card; however, should you wish to also enroll an Eligible Checking
Account to be eligible to earn additional points pursuant to the Program’s
terms and conditions, you will need to pay the associated annual fee for the
Eligible Checking Account. The annual membership fee is charged on an
Eligible Product basis and not on a Signer basis. Therefore, regardless of the
numbers of Signers on an Eligible Product, only one annual membership fee
will be charged to a particular Eligible Checking Account. If you enroll more
than one Eligible Checking Account in the Program, you will be charged the
corresponding annual membership fee for each Eligible Checking Account
enrolled.
(a)This membership fee is subject to change without notice.
(b)If a Program annual membership fee applies, you authorize KeyBank to
charge this fee automatically to your Enrolled Checking Account on the
first Checking Account statement cycle date after enrollment and then
annually thereafter on the statement that includes the anniversary date of
enrollment unless you notify KeyBank of cancellation of participation in the
Program at least 60 days prior to the enrollment anniversary. This annual
membership fee is non-refundable.
Table 1: Eligible Accounts and Related Annual Fees
Account Type –
Non-Business
Key Privilege Select Checking
Fee waived
Key Privilege Checking
Fee waived
Sweep Checking
Fee waived
Key Private Bank Personal Checking
Fee waived
Key Private Bank Money Market
Checking
Fee waived
Key Advantage Checking
$30
Key Coverage Checking
$40
Key Express Checking
$40*
Key Student Checking
$40*
KeyBank Hassle-Free Account
$40*
Other Non-Business Checking
Accounts Not Listed
$40*
Any Credit Card listed in Section I.A.
of Schedule II.2.
Conversion Accounts
Account Type – Business
Key Business Rewards Checking
KeyBank Basic Business Checking
35
Relationship Rewards
Annual Fee
Fee waived
Fee waived
Relationship Rewards
Annual Fee
Fee waived
$40*
KeyBank Business Interest Checking
$40*
Key Business Reward Plus Account
Fee waived
Key Business Community Focus
Account
$40
Other Business Checking Accounts
Not Listed
$40*
Any Credit Card listed in Section I.B.
of Schedule II.2.
Fee Waived
Conversion Accounts
Fee waived
*For Customers who were enrolled in Basic Rewards Program, the fee will
remain $30 until on or after April 1, 2016, then the fee will be $40 per year.
The change in annual fee will be assessed based on the Rewards anniversary
date.
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III. EARNING POINTS.
1.Generally. If you are in the Program and have an Enrolled Checking Account
(defined in Section II), you may earn points for certain transactions or bonus
activities outlined below and for opening new Relationship Products (defined
below) and/or increasing the balance of certain of the Relationship Products
as specified below. If you have an enrolled Eligible Credit Card Account, but do
not have an enrolled Eligible Checking Account, then you may earn points for
certain transactions and bonus activities outlined in the Guide (defined below),
but you will be limited in your ability to earn points for opening new Relationship
Products. Transactions of authorized users of both Debit Cards and Eligible
Credit Cards may earn Rewards Points; however, such an authorized user will
not be able to view or redeem Rewards Points as set forth in Section IV.
2.
Guide. KeyBank publishes guides to set forth qualification criteria for
earning Rewards Points for particular transactions and events. The KeyBank
Relationship Rewards Points Guide includes information concerning Activity
and Bonus Points, Relationship Rewards Product Points and general Rewards
Points, applicability to Enrolled Checking Accounts and enrolled Eligible Credit
Cards, and further qualification and earn rates as specified therein (hereinafter
referred to as the “Guide”). The Guide is specifically incorporated into and
made a part of the Program Rules and may be modified by KeyBank at any
time. The Guide is available at www.key.com under the rewards tab. KeyBank
reserves the right, in its sole discretion to determine (1) whether any product or
service is a Relationship Product eligible to earn Rewards Points, (2) whether
any transaction, product or service is eligible to earn Activity and Bonus Points
(defined below), and (3) whether to provide any product or service to any
person or Customer. Important additional information regarding Activity and
Bonus Event types, qualifications, and amount of points earned, is contained
in the Guide. Different Activity and Bonus Events may apply for Consumer and
Business Customers, and for Customers in KeyBank’s Private Bank. Activity
and Bonus Points may be earned for single transactions and for recurring
activity, and are subject to monthly caps. Please refer to the Guide for details.
3.
Net Purchases. The term Net Purchases is defined as the dollar value of
goods and services purchased with a Debit Card or Eligible Credit Card after
the enrollment date, minus (a) any credits, returns or other adjustments as
reflected on the monthly statements, (b) the value of all Excluded Transactions,
and (c) all annual membership fees, late payment fees, over-limit fees,
insurance charges, card-related service charges, finance charges, fees and/or
unauthorized charges.
4.
Activity and Bonus Points with Enrolled Checking Account. If you are
enrolled in the Relationship Rewards Program, in addition to earning points
by use of your Debit Card, you may earn Rewards Points when you perform
certain activities associated with your Enrolled Checking Account and upon the
occurrence of certain events (“Activity and Bonus Events”). These Rewards
Points will be known as “Activity and Bonus Points.” Important additional
information, including without limitation, qualification requirements, point
amounts and monthly point caps for Activity and Bonus Points are contained
in the Guide. Subject to inclusion in the Guide, Activity and Bonus Events may
include the activities enumerated below dependent upon whether the Enrolled
Checking Account associated with the particular activity is consumer or
business in nature.
to qualification criteria, point amounts, annual point caps and other relevant
information contained in the guide which may change from time to time as set
forth in Section III.2 above:
“Relationship Product(s)” to Expand a Consumer Enrolled
Checking Account Relationship
Savings Accounts (Key Gold Money Market Savings® Account and
Key Silver Money Market Savings® Account)
Personal Certificates of Deposit
Loans for Autos, Boats, Recreational Vehicles and Motorcycles
Personal Secured and Unsecured Loans
(includes home improvement and other collateral secured installment loans)
Home Equity Lines of Credit and Loans
Preferred Credit Line
Mortgages
Regardless of who opens the Relationship Product, Product Point(s) with
respect to Consumer Enrolled Checking Accounts will be awarded to each
Consumer Enrolled Checking Account which has a Signer in common with said
Relationship Product, provided however that the number of awards shall never
exceed the lesser of (i) the number of Consumer Enrolled Checking Accounts,
or (ii) the number of Signers on said Relationship Product. Product Point awards
will be made with respect to Enrolled Checking Accounts bearing the lowest
sequential account number to highest until the maximum number of awards is
reached. Additionally, from time to time through special offers from KeyBank,
Relationship Rewards Product Points may be awarded for increasing the
balance in your savings account or Certificate of Deposit or for renewing your
Certificate of Deposit. Only products or services opened or established after
your enrollment in the Relationship Rewards Program qualify for Relationship
Rewards Product Points. Relationship Products may differ for Consumer and
Private Bank Customers. Please refer to the Guide for details.
6.
“Relationship Product” and Relationship Reward Product Points for
Business Customers with Enrolled Checking Account. Product Point(s)
with respect to a Business are Rewards Points which are awarded as set forth
below for expanding the Business Relationship with KeyBank by opening or
establishing new eligible business products or services, which may include the
products or services set forth below, but will be limited to the actual products
or services set forth in the Guide, and Product Point awards will be subject to
all requirements set forth in the Guide, including, but not limited to qualification
criteria, point amounts, annual point caps and other relevant information
contained in the Guide which may change from time to time as set forth in
Section III.2 above.
“Relationship Product(s)” to expand a Business Enrolled
Checking Account Relationship
Savings Accounts (Key Business Gold Money Market Savings® and
Key Business Silver Money Market Savings® Account)
Business and Small Business Certificates of Deposit
Consumer Enrolled Account
Business Enrolled Account
Key Equipment Finance® Loan/Lease
(excluding Competitive Equality Banking Act of 1987 (CEBA) Leases)
Use of online statements
Use of online statements
Commercial Term Loan
Debit card transactions
Debit card transactions
Commercial Lines of Credit
Automated debit or credit
transactions
Automated debit or credit
transactions
Small Business Line of Credit
Online bill payments
Online bill payments
ATM deposits
N/A
Birthday Bonus
N/A
Mobile Deposit
N/A
Key Merchant Services
Regardless of who opens the business Relationship Product, Product Point(s)
with respect to a Business Enrolled Checking Account will be awarded to each
Business Enrolled Checking Account which has a Signer in common with said
Relationship Product, provided however, that the number of Product Point
awards shall never exceed the lesser of (i) the number of Business Enrolled
Checking Accounts, or (ii) the number of Signers on said Relationship Product.
Product Point awards will be made with respect to Enrolled Checking Accounts
bearing the lowest sequential account number to highest until the maximum
number of awards is reached. Additionally, from time to time through special
offers from KeyBank, Relationship Rewards Product Points may be awarded
for increasing the balance in your savings account or Certificate of Deposit or
for renewing your Certificate of Deposit. Only products or services opened or
established after your enrollment in the Relationship Rewards Program qualify
for Relationship Rewards Product Points.
7.
Points for Enrolled Credit Card Accounts. KeyBank offers varying levels
of Rewards Points depending upon your credit card type. Subject to the terms
of the Guide, Rewards Points will be awarded for the amount of credit card
transaction activity, including bonuses for recurring payments and choosing
A Birthday Bonus is an award of Rewards Points associated with your Enrolled
Checking Account on the birthday of the Primary Signer on the Eligible Checking
Account.
5.
“Relationship Product” and Relationship Rewards Product Points for
Consumer Customers with Enrolled Checking Account. Product Point(s)
with respect to a Consumer are Rewards Points which are awarded as set forth
below for expanding the Consumer Relationship with KeyBank by opening or
establishing a new eligible product or service, such eligible products or services
may include the products or services set forth below, but will be limited to the
actual products or services set forth in the Guide, and Product Point awards will
be subject to all requirements set forth in the Guide, including, but not limited
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online statement delivery. Additionally, to reward customers who also have
an Eligible Checking Account with KeyBank (regardless of enrollment status),
when you open an Eligible Credit Card, KeyBank will provide Rewards Points
to a Signer on an Eligible Credit Card as long as the qualification criteria in the
Guide are met.
8.
Bonus Offers and Incentives. From time to time KeyBank may provide offers
to Signers to (i) earn additional Rewards Points for shopping at a particular
retailer, or (ii) use Rewards Points to purchase a particular retailer’s gift card at
a discounted amount (herein collectively referred to as the “Bonus Offer(s)”).
These Bonus Offers may be presented to Signers by KeyBank through various
venues, including without limitation, through KeyBank’s Online Banking site,
KeyBank’s Rewards Website, or e-mail. Signers will be able to turn off viewing
of these offers in Online Banking and the Rewards website by following the
instructions set forth on the website. Additionally, Signers will be able to
unsubscribe from the Bonus Offer e-mails by following the unsubscribe
directions in any such Bonus Offer e-mails. Once a Signer has accepted a
Bonus Offer to earn Rewards Points by shopping at a particular retailer, then
the transactions of any Signer or Authorized User of the account for which the
Bonus Offer was accepted will be used to determine whether the criteria have
been met to earn the additional Rewards Points set forth in the Bonus Offer.
Authorized Users will not be presented Bonus Offers.
9.
E xcluded Transactions. Excluded Transactions will not be included in
the Reward Point calculation. The term Excluded Transactions is defined as
and includes: ATM cash disbursements, manual financial institution cash
advances, KeyBank’s Cash Reserve Credit transactions, person-to-person
money transfers, a quasi-cash transaction including the purchase of traveler’s
checks, foreign currency, money orders or convenience checks, truck stop
transactions (any transactions at a truck stop other than an ATM at fuel
desks, weigh stations, public scales, or ports of entry), gaming transactions,
tax payments, balance transfers, annual membership fees, point-of-sale cash
back transactions greater than the purchase amount, returned checks, and any
credit, return or other adjustment to your Enrolled Checking Account and/or
Credit Card Account. If you are enrolled in the Relationship Rewards Program,
the term “Excluded Transactions” as defined above will apply to the Reward
Point calculation for transactions made using your Eligible Credit Card (if
applicable) and your Debit Card if your Eligible Checking Account is enrolled.
the available point balance relating to the Business Enrolled Checking Account
and could be viewed and redeemed by any and all Signers on the Business
Enrolled Checking Account.
3.
Redemption. Rewards Points must be redeemed by a Signer on an Eligible
Product that is enrolled in the Program. Except as specified in II.3 above, to
redeem Rewards Points for rewards, log into KeyBank’s Rewards Website, or
contact the KeyBank Rewards Center.
4.
Reservation of Rights. KeyBank reserves the right, in its sole discretion, to
change how Rewards Points are earned and allocated at any time.
5.
Contacting Key. As set forth in Section II.3 above, your available Rewards
Points balance is available at KeyBank’s Rewards Website, on KeyBank’s
Online Banking or Key Business Online, as applicable, or by calling the KeyBank
Rewards Center. Additionally, the Rewards Points balance for the Eligible Credit
Card is available on the credit card billing statement; the Rewards Points
balance for the Enrolled Checking Account is available on the checking account
statement as well as on branch receipts. Important information regarding the
Relationship Rewards Program (“KeyBank Rewards Information”) can be found
at www.key.com/rewards.
6.
Redemption Allocation and Expiration. If unused, the Rewards Points
carry a 4-year expiration limitation based on the date the Rewards Points
were earned, and upon expiration all unused Rewards Points shall be forfeited
immediately. Rewards Points redeemed and/or expired, if applicable, will be
based on a first-in, first-out process. For October 2013 Conversion Accounts
and October 2014 Conversion Accounts, converted Rewards Points will retain
the same expiration date as they had under your previous rewards program. For
October 2016 Conversion Accounts, converted Rewards Points will receive a
four year expiration period for such Rewards Points commencing as of October
10, 2016. Notwithstanding the foregoing, Rewards Points earned with any of
the following Eligible Credit Cards will not expire: Key Private Bank MasterCard
Credit Card, Key Private Bank World Elite MasterCard Credit Card and KeyBank
Select World MasterCard.
7.
Transferability. Rewards Points earned are not transferable except as used
in accordance with these Program Rules, have no cash value and cannot under
any circumstances be used as payment for any Customer account balance or
any other liability or obligation you have to KeyBank.
8.
No Partial Awards. No partial awards will be issued upon redemption of
Rewards Points.
9.
Value. Rewards Points and rewards have no value, are not refundable or
exchangeable and cannot be used except in accordance with these Program
Rules and applicable terms and conditions of rewards suppliers.
10.
Availability. Rewards Points are available after transactions are posted and
based on the specifications set forth in the Guide.
IV. REWARDS ACCOUNT AND POINT REDEMPTION
1.
Rewards Account Generally. Each enrolled Eligible Product will have an
associated internal rewards account established by KeyBank to track the
Rewards Points earned under the Program. If you are a Signer and are enrolled
in the Program, you will have a rewards account (“Rewards Account”),
which you may access after you have registered (as set forth in Section II
above). Your Rewards Account number will appear on your statement and
will be available online and elsewhere as determined by KeyBank from time to
time. Your Rewards Account will allow you to view the available point balance
relating to any Enrolled Checking Account or Eligible Credit Card for which
you are a Signer. The available point balance is an aggregation of Rewards
Points available to any Signer, subject to certain exceptions, on an enrolled
Eligible Product for activities and behaviors engaged in by the Signers of such
accounts as set forth in Section III entitled “Earning Points”. Notwithstanding
the foregoing, certain Points are awarded only to the Primary Signer of an
Enrolled Checking Account, all as set forth in Section III above entitled “Earning
Points”. You shall have no interest in or rights to the Rewards Account except as
provided in these Program Rules, and the Rewards Account cannot be assigned
or transferred by you. Any assignment or transfer of the Rewards Account is
null and void.
2.
Rewards Account Mechanics. Your Rewards Account will allow you to view
all of the Rewards Points which have been awarded relative to any Enrolled
Checking Account and/or Eligible Credit Card, for which you are a Signer. You
will be able to redeem any and all Rewards Points viewable in your Rewards
Account. An authorized user of a Debit Card or an Eligible Credit Card will not
be able to view or redeem Rewards Points. However, activity of other Signers,
who also may view and redeem from a common available point balance for
which you both are Signers, may reduce the availability of Rewards Points in
your Rewards Account. All Signers on an enrolled Eligible Product will be able to
view and redeem all Rewards Points earned for the enrolled Eligible Products.
With respect to Enrolled Checking Accounts, any Signer will be able to view
and redeem all Rewards Points earned for the Enrolled Checking Account, both
for Bonus and Activity Points and Relationship Rewards Points. For example,
if a Signer on a joint Enrolled Checking Account opens a Relationship Product
in his or her own name only, Relationship Rewards Points would appear in
the available points balance of the Enrolled Checking Account and could be
viewed and redeemed by any and all Signers on the Enrolled Checking Account.
Relationship Rewards Points for any Relationship Product opened by a Business
or by any Signer on a Business Enrolled Checking Account will be displayed in
V.TRANSFER
Customers enrolled in Relationship Rewards can transfer all or part of their Rewards
Points balance in their Relationship Rewards Account to another Relationship
Rewards Account at KeyBank (“Points Transfer”). In order to transfer Rewards Points,
a Customer must call the KeyBank Rewards Center as set forth in Section II.3.b
above. A Customer must know the recipient’s Relationship Rewards Account number
in order to complete the transfer. If there is more than one Customer associated with
a Relationship Rewards Account, each Customer may only transfer Rewards Points
that were earned by such Customer. Only Customers with Relationship Rewards
Accounts in good standing (as determined by KeyBank in its sole discretion) can
participate in Points Transfers, either as a transferor or transferee. Transferred points
retain the expiration date assigned at the time the transferred points were originally
earned, not the date of transfer. All transfers are final. If Rewards Points subject
to 1099 reporting are transferred, the 1099 reporting and associated tax liability
remains with the Customer who earned the points.
VI. GENERAL PROGRAM DETAILS
1.
Continuing Eligibility. Eligibility is limited to KeyBank’s Customers, whose
enrolled Eligible Products are in good standing. You will only earn Rewards
Points as long as KeyBank, in its sole discretion, determines that your enrolled
Eligible Products are acceptable to KeyBank and are eligible for participation
in the Program. An ineligible Checking Account and/or Credit Card Account
includes, without limitation, an account that is frozen, restricted, closed,
terminated, cancelled, expired, inactive, dormant, has a legal status, or an
account that is subject to litigation or any adverse (or conflicting) claim of any
third party.
2.
Cancellation and Discontinuation. If you voluntarily cancel enrollment in
the Program or if KeyBank cancels the enrollment due to the account not being
eligible, all unused accrued Rewards Points and rewards shall be forfeited
immediately. If you are terminated as a Signer on an enrolled Eligible Product
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for any reason, whether due to your own action, action by KeyBank, or death,
Activity and Bonus Points and Relationship Rewards Points earned by you prior
to termination will remain in the available point balance and will be available for
use by the Signers of the Eligible Product in connection with which the Points
were earned. You may discontinue your participation in the Program at anytime
without notice. KeyBank’s cancellation, change or suspension of the Program
may result in the forfeiture of earned points and a change in the redemption of
any outstanding rewards.
3.
Reservation of Rights. The Program and benefits are offered at the sole
discretion of KeyBank. KeyBank reserves the right to cancel, change or
temporarily suspend the Program at any time without notice, including without
limitation, to (a) terminate any Customer’s or Signer’s membership in the
Program for any reason; (b) reduce or eliminate all Rewards Points earned (but
not yet credited to your Rewards Account); (c) add to or modify the terms and
conditions of these Program Rules, including, as to the Relationship Rewards
Program and the Guides, additions or modifications to the number of Rewards
Points earned for any activity, deletions or modifications to activities that
earn Rewards Points, or modifications to qualifications for Activity and Bonus
Events or Relationship Products; (d) discontinue KeyBank’s participation in
the Program; (e) terminate or modify its Program; (f) modify the formula to
calculate Rewards Points earnings; and (g) in the event of any fraud or abuse of
the Program privileges or violation of the Program Rules (including any attempt
to sell, exchange or otherwise transfer Rewards Points or any instrument
exchangeable for the Program). In regard to the Relationship Rewards Program,
KeyBank reserves the right, in its sole discretion, to determine whether any
transaction, product or service is eligible to earn Rewards Points, and whether
to allow any person or Customer to undertake any transaction or to receive any
product or service.
4.
Governing Law. These Program Rules and Program are governed by the
laws of the State of Ohio, without regard to its conflicts of law principles. The
Program is void where prohibited by federal, state or local law.
5.
Availability Limitations. Airline tickets, travel rewards packages,
merchandise rewards, travel vouchers, gift certificates/gift cards and other
rewards are subject to availability and certain restrictions and fulfillment fees
apply.
6.
Signer Disputes. KeyBank is not responsible for, and has no duty, obligation
or liability regarding any disputes between joint Signers of an Eligible Product
(or authorized users of a Debit Card or Credit Card) relating to Rewards Points
ownership, accessibility and/or redemption rights under the Program.
7.
Liability. Every effort has been made to ensure that the information provided is
accurate. KeyBank is not responsible for errors or omissions.
8.
Taxes. When you redeem Rewards Points for a reward, you and the merchant
are responsible for compliance with all laws related to the reward, including the
payment and collection of any federal, state, and local taxes.
9.
1099-INT Reporting. The fair market value of points earned for opening a
savings account or a Certificate of Deposit, for increasing the balance in your
savings account or Certificate of Deposit or renewing your Certificate of Deposit
along with interest earned on your Savings account or Certificate of Deposit
(further described in Section III above) will be reported to the IRS on Form
1099-INT. The 1099-INT is issued for the Savings Account or the Certificate
of Deposit since the award of Rewards Points is for opening or increasing
the balance of such account and such an award is considered to be interest
earnings. The issuance of the 1099-INT for the Savings Account or Certificate
of Deposit occurs even though the Rewards Points will be added to the available
point balance for the Enrolled Checking Account.
10.
Travel Taxes and Fees. You are responsible for payment of any passenger
facility charges, air segment taxes, departure taxes, customs fees, baggage
charges, security taxes or any other charges assessed by governmental entities
or airline company as a result of travel under the Program, as well as any
shipping, courier, fulfillment or certificate fees associated with the Program.
11.
Correspondence/Mailing. KeyBank shall not be responsible for any
correspondence by you that is lost or delayed in the mail. All travel tickets,
travel packages, merchandise and other rewards will be sent to your address on
file at KeyBank or otherwise in accordance with your instructions. Merchandise
shipments cannot be made to a post office box.
12.
Finality. All questions regarding accrual of rewards or the fulfillment of rewards
shall be resolved by KeyBank, and its decision will be final. All questions or
disputes regarding use of gift certificates/gift cards shall be resolved by the
supplier or issuer of the gift certificate/gift card by contacting customer service
department disclosed with the certificate/card.
13.
Release. Should KeyBank decide to terminate the Program, and the
acceptance and use of the Program, Customer hereby releases,
discharges, and holds harmless KeyBank, MasterCard International
Incorporated, doing business as MasterCard Worldwide, and its
affiliates and subsidiaries, (collectively, called “MasterCard”), and
their respective subsidiaries, affiliates, employees, officers, directors,
successors and assigns from all claims, damages or liability including
but not limited to physical injury or death, arising out of participation
in the Program.
14.
Limitation of Liability. Neither KeyBank, MasterCard nor any other entity
associated with the Program shall have any liability arising from, or related
to, such rewards of the Program, except as expressly stated herein. If you are
denied a benefit of the Program to which you are entitled, liability of KeyBank
and MasterCard shall be limited to your earned portion of the benefit. In no
event shall KeyBank or MasterCard be liable to you for any indirect, incidental,
consequential, special or punitive damages arising from this Program or
performance of any obligations hereunder, or any other action or omission by
it, even if such party is informed or is otherwise aware or should be aware of
the possibility or likelihood of such damages. KeyBank makes no warranty and
hereby disclaims any and all representations or warranties, express or implied,
regarding any subject matter contemplated by these Program Rules, including
any implied warranty of merchantability or fitness for a particular purpose or
implied warranties arising from the course of dealing or course of performance.
15.
Third Parties. Suppliers of goods and services are independent contractors
and are neither agents nor employees of KeyBank, MasterCard, or any of their
affiliates; or any group, organization, or entity endorsing a credit or debit card
program by us. We neither offer, endorse, nor guarantee any of the goods,
services, information, or recommendations provided by third parties to you in
connection with the Program.
16.
Intellectual Property. The KeyBank name, Key mark design and logo are
registered trademarks of KeyCorp, an Ohio corporation. MasterCard and
World MasterCard are registered trademarks of MasterCard International
Incorporated and are used by us pursuant to a license. All other company,
product, and service names may be trademarks or service marks of others and
their use does not imply endorsement or an association with this Program.
VII. AIRLINE, HOTEL, CAR RENTAL & TRAVEL PACKAGES
1.You may redeem Rewards Points for travel related items such as airline tickets,
hotel stays, car rentals and travel packages (herein “Travel Rewards”). In
order to redeem Rewards Points for Travel Rewards, you must use the Travel
Tool (the “Travel Tool”) which is accessed by selecting the Travel Tool icon
within KeyBank Relationship Rewards Program available at the KeyBank
Rewards Website or by calling 1-888-333-7780. The Travel Tool has additional
specific terms and conditions relating to the booking and use of Travel Rewards,
which terms of use must be reviewed and accepted prior to each
redemption of a Travel Reward. As the Travel Tool terms of use (also known
as terms and conditions) may change more frequently than these KeyBank
Rewards Program Terms and Conditions, you will be required to acknowledge
your review and acceptance of the Travel Tool terms and conditions before
completing a redemption of a Travel Reward. When you make a reservation
using the Travel Tool, you will be subject to the rules of each company, agent
or other entity supplying a Travel Reward (herein a “Supplier”). Each Supplier
sets its own rules as to booking, cancellations, changes and refunds, including
any fees relating to same. Supplier fees (such as for booking cancellation,
changes or refunds) may be required to be paid via credit card, debit card or
other another payment medium selected by Supplier. You must carefully read
the rules of each Supplier before booking as certain Suppliers may not permit
cancellations, changes or refunds. Refunds, if permitted by the Supplier, may
take up to 90 days to process and are subject to the policies of the individual
Supplier. All refund requests must be submitted in accordance with the rules
of the Supplier, and in any case no later than 30 days after the scheduled
departure date and any negotiable documents (i.e. airline tickets, redeemable
certificates or vouchers, etc.) issued must be returned to the Supplier prior to
processing any refund. If Supplier permits a full or partial refund, such refund
will be made by crediting your Reward Account with the applicable amount of
Reward Points determined by Supplier. If you are no longer a member of the
Program, the Rewards Points will be forfeit. Additionally, any redemption of a
Travel Reward is also governed by these general KeyBank Rewards Program
Terms and Conditions. In the event of a conflict, the Travel Tool terms and
conditions will control the governance of a transaction involving Travel Rewards.
2.
Prohibited Use. As a condition of your use of the Travel Tool and/or KeyBank’s
Rewards Website, you warrant that you will not use the Travel Tool or KeyBank’s
Rewards Website for any purpose that is unlawful or prohibited by these terms,
conditions, and notices.
3.KeyBank is not responsible for products or services offered by other companies.
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VIII. MERCHANDISE
Schedule II.2
To the KeyBank Relationship Rewards Program Terms and Conditions
1.KeyBank may make substitutions of equal or greater value when necessary
without notification.
2.Merchandise rewards include applicable sales tax, shipping and handling within
the 48 contiguous United States.
3.Returns are only accepted for merchandise that is damaged, defective or
shipped in error. The manufacturer’s warranty applies to all merchandise
rewards offered, but KeyBank shall have no responsibility or liability in
connection with this warranty. Merchandise rewards shipments are your sole
responsibility.
4.Delivery of merchandise will be made by ground delivery service-signature
required or first-class mail. Please allow four to six weeks from time of order.
5.Any additional shipping costs, including international shipping costs, will be
your responsibility and will be charged to the Enrolled Checking, unless you
have no Enrolled Checking, in which case such costs will be charged to the
Eligible Credit Card.
I.
II.
KeyBank Conversion Credit Cards. All of the credit card Accounts listed in this
Section II shall be deemed a Conversion Account.
(a)
October 2013 Conversion Accounts. Effective October 4, 2013 the
following credit cards were converted from a separate rewards program into the
KeyBank Relationship Rewards Program (herein collectively referred to as the
“October 2013 Conversion Accounts”):
(1) KeyBank World MasterCard with Rewards
(2) KeyBank MasterCard with Rewards
(3) Key Private Bank World Elite MasterCard
(4) Key Private Bank World MasterCard
(5) KeyBank Business Travel Rewards MasterCard
(6) KeyBank Business Rewards MasterCard bearing a plastic number with the
first 6 digits of 547538
(7) KeyBank Key2More Rewards MasterCard bearing a plastic number with
the first 6 digits of 548029, 552373 or 548853
(b)
October 2014 Conversion Accounts. Effective October, 2014 the following
credit cards were converted from a separate rewards program into the KeyBank
Relationship Rewards Program (herein collectively referred to as the “October
2014 Conversion Accounts”):
(1) KeyBank Platinum MasterCard with Rewards bearing a plastic number
with the first 6 digits of 521515
(2) KeyBank Select World MasterCard bearing a plastic number with the first
6 digits of 552470
(3) KeyBank Business MasterCard with Rewards bearing a plastic number
with the first 6 digits of 519726 or 519727
(c)
October 2016 Conversion Accounts. Effective October 10, 2016, the
following credit cards were converted from a separate rewards program into the
KeyBank Relationship Rewards Program (herein collectively referred to as the
“October 2016 Conversion Accounts”):
(1) KeyBank World MasterCard Credit Card bearing a plastic number with the
first 6 digits of 552437
(2) KeyBank Platinum Rewards MasterCard Credit Card bearing a plastic
number with the first 6 digits of 532914 and 529079
(3) KeyBank Rewards Business MasterCard Credit Card bearing a plastic
number with the first 6 digits of 552743
IX. GIFT CERTIFICATES/GIFT CARDS
1.Gift certificates/gift cards have no value except when used in accordance
with these Program Rules and applicable terms and conditions of participating
suppliers or card issuers.
2.
Gift certificates/gift cards must be surrendered at redemption, are not
refundable, exchangeable, unless required by applicable law. Gift certificates/
gift cards cannot be used against Customer’s outstanding credit account
balances. Gift certificates/gift cards may not be resold.
3.KeyBank may make substitutions of equal or greater value when necessary.
4.KeyBank and participating suppliers are not responsible for replacing lost,
stolen or expired gift certificates/gift cards.
5.Gift certificates/gift cards use is subject to the terms and conditions printed
thereon.
6.Gift certificates/gift cards are valid only at participating suppliers through the
expiration date printed on the gift certificate/gift card.
7.Delivery of gift certificate/gift card will be made by ground delivery servicesignature required or first-class mail or email. Please allow three to four weeks
from time of order for direct mail.
8.Gift certificates/gift cards may not be combined with any other promotional
offers from KeyBank or participating suppliers.
9 In the event the goods and services purchased are less than the face value of
the gift certificate/gift card redeemed, the policy of the supplier will determine
whether credit or gift certificate/gift card value for the difference will be given.
10.Gift certificates/gift cards as rewards are void where prohibited by law.
Customer must notify the KeyBank Rewards center within 60 days to report non
11.
receipt of gift certificate/gift card.
12.Issuers of gift certificates/gift cards are solely responsible for compliance with
any legal or regulatory requirements governing gift certificates/gift cards.
X. CASH BACK
KeyBank Original Origination Credit Cards
(a)
Consumer. Any Credit Card issued by KeyBank on or after May 24, 2013, and
bearing a plastic number with the first 6 digits of 524924, 519945, 552356,
and bearing the name KeyBank Key2More Rewards MasterCard Credit Card,
Key Private Bank MasterCard Credit Card and KeyBank Platinum MasterCard
Credit Card
(b)
Business. Any Credit Card issued by KeyBank on or after May 24, 2013, and
bearing a plastic number with the first 6 digits of 519731 including KeyBank
Business Rewards MasterCard Credit Card
1.You may redeem Rewards Points for cash back to be applied to your Debit Card
or your Eligible Credit Card (either option being referred to as “Cash Back”). If
you choose to redeem Rewards Points for Cash Back you will need to select
from the available options on the website which Debit Card or Eligible Credit
Card the Cash Back will apply to and such selection will remain in effect until
changed by you. KeyBank has sole discretion to determine which Debit Cards
or Eligible Credit Cards will be available as a viable selection for the Cash Back
feature.
2.Cash Back is available only for accounts in good standing as determined by
KeyBank in its sole discretion. Any Signer who has registered is eligible to
choose Cash Back as a Rewards Points redemption option, subject to the
restrictions set forth in this Section X.
3.If you choose Cash Back to be applied to your Debit Card, then the Cash Back
will be deposited to the Enrolled Checking Account attached to the Debit Card.
Cash Back will post to the account you selected within 1-3 business days and
will appear on your monthly checking account statement or your monthly credit
card statement.
4.It may take up to two (2) business days after enrollment for an account to be
eligible as a selection option for the Cash Back feature.
5.You will be responsible for taxes related to Cash Back, if any.
6.You may only redeem Cash Back in increments set forth in the web site options
available at the time of redemption.
All of the credit cards listed on this Schedule II.2. will be deemed an Eligible Credit Card.
Conversion Accounts will have the same terms and conditions of all other Eligible Credit
Cards under the Program unless specifically designated otherwise. The credit card names
for the Conversion Accounts are listed separately in the Points Guide.
Relationship Rewards Program Terms and Conditions – Effective October 10, 2016
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TERMS OF USE FOR ADDING YOUR KEYBANK MASTERCARD®
DEBIT OR CREDIT CARD TO A DIGITAL WALLET
The following are the Terms of Use for adding a KeyBank MasterCard® Debit or Credit
Card (“Card”) to a digital wallet acceptable to KeyBank (“Wallet”). These Terms of Use
shall apply to any person (referred herein to as “you” and “your”) who adds a Card to a
Wallet. As used herein, “we,” “us,” “our,” and “KeyBank” refer to the issuer of your Card.
6. Governing Law and Disputes. These Terms of Use are governed by federal law and,
to the extent that state law applies, the laws of the State of Ohio. Disputes arising
out of or relating to these Terms of Use will be subject to any dispute resolution
procedures in your applicable Card agreement.
These Terms of Use supplement and modify the terms and account agreements that
govern your Card, including, but not limited to, as applicable, our Deposit Account
Agreement and Funds Availability Policy, and Credit Card Cardmember Agreement and
related account opening disclosures. Any applicable interest, fees, and charges that apply
to your Card will also apply when you use the Wallet to access your Card.
7. Amendments; Assignment; Termination. We may amend, modify, or otherwise
change these Terms of Use, or add or delete any provisions in these Terms of Use,
at any time. We will provide notice as required by law. We may also assign, or
terminate, these Terms of Use at any time. You cannot change these Terms of Use,
but you can terminate these Terms of Use at any time by removing all of your Cards
from the Wallet. You may not assign these Terms of Use.
When you add a Card to the Wallet, you agree to these terms:
8. Privacy. Your privacy and the security of your information are important to us. Our
Privacy Notice (available online at: https://www.key.com/about/misc/privacypolicy-keycorp.jsp) applies to your use of your Card in the Wallet. You agree that we
may share your information with the Wallet provider, a payment network, and others
in order to provide the services you have requested, to make information available to
you about your Card transactions, and to improve our ability to offer these services.
This information helps us to add your Card to the Wallet and to maintain the Wallet.
We do not control the privacy and security of your information that may be held by
the Wallet provider and that is governed by the privacy policy given to you by the
Wallet provider.
1.Adding a Card. You can add an eligible Card to the Wallet by following the instructions
of the Wallet provider. Only Cards that we indicate are eligible can be added to the
Wallet. For a current listing of eligible Cards, please refer to the KeyBank Digital
Wallet FAQs, available on our website. If your Card or underlying account is not in
good standing, that Card will not be eligible to enroll in the Wallet even if it is a type of
Card that is generally eligible. When you add a Card to the Wallet, the Wallet allows
you to use the Card to initiate transactions at merchants that accept the Wallet. The
Wallet may not be accepted at all locations where your Card is accepted.
2.Removing a Card. You must contact the Wallet provider directly for instructions
regarding how to remove your Card from the Wallet or block a specific Card in the
Wallet.
9. Notices. We may provide notices to you concerning these Terms of Use and your use
of a Card in the Wallet by posting the material on our website, through electronic
notice given to any electronic mailbox we maintain for you or to any other email
address or telephone number you provide to us, or by contacting you at the current
address we have on file for you. You may contact us at: 1-800-539-2968.
3. Fees. KeyBank will not charge you a fee to add or use your Card with a Wallet;
however, regular account charges will apply. Further, the Wallet provider and other
third parties, such as the telecommunications carrier or data service provider for
your mobile device, may impose an extra fee in order to make such device ‘wireless
web enabled.’
10.Questions. If you have any questions, disputes, or complaints about the Wallet,
contact the Wallet provider using the information given to you by the provider. If
your question, dispute, or complaint is about your Card, then contact us at:
1-800-539-2968. Customers with hearing impairments may call TTY/TTD
1-800-539-8336.
4. KeyBank Is Not Responsible for the Wallet. KeyBank is not the provider of the Wallet,
and we are not responsible for providing the Wallet service to you. We are only
responsible for supplying information securely to the Wallet provider to allow usage
of the Card in the Wallet. We are not responsible for any failure of the Wallet or
the inability to use the Wallet for any transaction. We are not responsible for the
performance or non-performance of the Wallet provider or any other third parties
regarding any agreement you enter into with the Wallet provider or associated third
party relationships that may impact your use of the Wallet.
5. Email Communication. You consent to receive electronic communications and
disclosures from us in connection with your Card and the Wallet. You agree that we
may contact you by email at any email address you provide to us in connection with
any account you have with us. Email communications may include contact from third
party service providers working on our behalf to service your accounts. You agree to
promptly notify us of any changes to your contact information.
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KEYBANK HASSLE-FREE ACCOUNT®
AUTHORIZED MINOR USER SUPPLEMENTAL AGREEMENT
Effective May 23, 2014
KeyBank National Association
Member FDIC
Today’s Date Is June 13, 2016
This Supplemental Agreement (“Supplemental Agreement”) governs your KeyBank
Hassle-Free Account number
(“Account”) you maintain
with us. As used in this Supplemental Agreement, “we,” “us,” “our” and similar terms
mean KeyBank National Association, Cleveland, Ohio, its respective parents, wholly or
majority owned subsidiaries, affiliates, predecessors, successors, assigns, employees,
officers and directors (“KeyBank”). “You,” “your” and similar terms mean each person
listed on our records as the owner of the Account. By signing below, you understand,
acknowledge and agree to the following:
1.You have received a copy of the KeyBank Deposit Account Agreement and Funds
Availability Policy, the Disclosure Statement and Terms and Conditions for Electronic
Funds Transfer Transactions, and other disclosures governing the Account
(collectively “Agreements”) and agree that by signing the Account Express Plan
for the Account, you are bound to the terms and conditions of the Agreements, as
amended from time to time. You agree that as an owner of the Account, you are also
bound by the terms of this Supplemental Agreement in regard to one or more minors
aged 13-17 authorized by you to have a debit card for this Account (“Minor”).
2. By signing below, you authorize and provide your consent as owner of the Account
for a Minor to obtain a debit card for this Account. A Minor may use the card to obtain
cash at ATMs and purchase goods and services at merchants who accept the card,
subject to the restrictions below. By authorizing a Minor to have a debit card, you
acknowledge and agree that a Minor will have access to all funds in the Account. You
acknowledge and agree that a Minor is not an owner of the Account and shall have
only those rights in regard to the Account as established by Bank from time to time.
This authorization will remain in force until you notify KeyBank to terminate a Minor’s
access to the Account.
3. You agree that we can follow the directions given, and take action requested by a
Minor through the use of the debit card and agree that you are legally responsible
and liable for any and all transactions involving the Account, including but not limited
to all overdrafts on the Account, regardless of whether a Minor or another Account
owner caused the overdrafts, and for all fees and service charges arising from the
Account.
4. You agree that authorization of a card transaction by a Minor may be restricted at
merchant locations where it is unlawful for a minor to make purchases, such as
gambling sites, bars, cocktail lounges, discotheques, nightclubs, taverns, drinking
places, package stores, and cigar stores and stands; however, you acknowledge
and agree that unlawful purchases by a Minor will not be restricted at all merchant
locations (such as a grocery stores).
5. A Minor will not be permitted to write checks, make withdrawals at branches,
obtain cash back when making a deposit, close the Account, or otherwise request
maintenance on the Account. If enrolled in online banking, a Minor may use online
banking to view account information only and may not use online banking to perform
any transactions. The debit card issued to a Minor for this Account cannot be linked
to any other account. These restrictions shall continue to apply to a Minor’s use of
the card in the event a Minor holds the card past his or her eighteenth birthday.
6. You acknowledge and agree that you will have the responsibilities and liabilities set
forth in this Supplemental Agreement for any Minor holding a debit card for this
Account authorized by any owner of the Account and for any Minor’s use of the card
past his or her eighteenth birthday.
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KEY STUDENT CHECKING ACCOUNT
SUPPLEMENTAL AGREEMENT
Effective November 1, 2011
KeyBank National Association
Member FDIC
Today’s Date Is June 13, 2016
This Supplemental Agreement (“Supplemental Agreement”) governs your Key Student
Checking Account number
(“Account”) you maintain with
us. As used in this Supplemental Agreement “we,” “us,” “our” and similar terms mean
KeyBank National Association, Cleveland, Ohio, its respective parents, wholly or majority
owned subsidiaries, affiliates, predecessors, successors, assigns, employees, officers
and directors. “You,” “your” and similar terms mean each person listed on our records as
the owner of the Account. By signing below, you understand, acknowledge and agree to
the following:
1. You have received a copy of the KeyBank Deposit Account Agreement and Funds
Availability Policy, the Disclosure Statement and Terms and Conditions for Electronic
Fund Transfer Transactions, and all disclosures governing the Account (“collectively
“Agreements”) and agree that by signing the Account Express Plan for the Account,
you are bound to the terms and conditions of the Agreements, as amended from time
to time. You agree that any minor Account owner(s) aged 17 and below (“Minor”) is
bound by the terms and conditions of the Agreements in all respects as an Account
owner of legal age.
2. The Account is a joint Account and all deposits in the joint Account are the property
of each owner as joint tenants with rights of survivorship and are governed by all
terms and conditions of the Agreements, including but not limited to, the following
terms and conditions. You agree that while all Account owners are alive, we can
honor checks or orders drawn by any owner, honor requests for withdrawals from
any owner, release the entire amount on deposit in the joint Account to any owner,
allow any owner to close the joint Account, and allow any owner to take all actions
that a sole owner could take. This means that, even if one owner of the Account
is a Minor, the Minor may perform all transactions on the Account including but
not limited to, writing checks and withdrawing funds from the Account, and allow
any owner to take all actions that a sole owner could take without the knowledge,
consent or permission of any other Account owner regardless of which Account
owner deposited the funds. Each of you appoint the other as your true and lawful
agents and attorneys-in-fact to conduct any and all banking business relating to your
joint Accounts. Each of you also agrees that any other joint owner may endorse your
name on any check made payable to you for all purposes, including depositing the
check in your joint Account.
3. You agree that we can follow the directions given, and take action requested by, any
Account owner and agree that you are legally responsible and jointly and severally
liable for any and all transactions involving the Account including but not limited
to all overdrafts on the Account, regardless of which Account owner caused the
overdrafts, and for all fees and service charges arising from the Account.
4. You acknowledge and agree that either Account owner may request a debit card for
this Account. By signing below, the Adult Account owner authorizes and provides
consent as owner of the Account for the Minor owner of the Account to obtain a debit
card for use with this Account. The Minor may use the card to perform transactions
on the Account as described in the Agreements and in paragraph 2 above. The debit
card issued to the Minor for this Account cannot be linked to any other account.
This restriction shall continue to apply to the Minor’s use of the card in the event the
Minor holds the card past his or her eighteenth birthday.
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KEY PRIVILEGE
ACCOUNT AGREEMENT
Introduction. This Agreement governs the Key Privilege Money Market Checking and
Key Privilege Select Money Market Checking Accounts (“Account”). I agree to the terms
and conditions in this Agreement.
As used in this Agreement:
•“I”, “me”, “my”, “we” “us” and “our” refer to the person(s) in whose name the
Account is opened.
•“KeyBank” means KeyBank National Association.
I understand that other agreements govern some of the services or products made
available in the Account. KeyBank’s Deposit Account Agreement and Funds Availability
Policy (“Deposit Account Agreement”) applies to the deposit accounts.
The Account. The Account includes a (i) KeyBank non-interest bearing Checking Account
with an automatic transfer of available funds in the Checking Account to an (ii) interestbearing FDIC-insured KeyBank money market checking (“Sweep Account”). Each month
KeyBank will send a monthly statement of transactions in the Key Privilege Money Market
Checking Account or the Key Privilege Select Money Market Checking Account, including
debits and credits to the Checking Account, and transfers to the Sweep Account.
The funds are deposits and insured up to the maximum applicable insurance limit in the
event of bank failure.
hecking Account. The Checking Account is a non-interest bearing transaction
C
account. All checks, debits or other items for the Account will be paid from the
available balance in the Account. The available balance includes available funds in
my Checking Account and any funds in my Sweep Account.
weep Account. The Sweep Account is an interest-bearing FDIC-insured checking
S
account. The interest rate is variable and subject to change as often as daily at the
discretion of KeyBank. You cannot write negotiable orders of withdrawal on this
Sweep Account. The Sweep Account may be accessed via sweep only; no deposits
or withdrawals may be made directly from the Sweep Account.
Transfer of Funds. I authorize and direct KeyBank on each day KeyBank is open for
business (known as a “Banking Day”) to sweep available funds in the Checking Account
to the Sweep Account. I authorize and direct KeyBank to use any available funds in
the Checking Account and any funds invested in the Sweep Account, to pay any of my
outstanding obligations under the Account. These obligations include any fees and other
charges relating to the Account and any checks or other items drawn on or payable from
the Checking Account.
Setoff. Subject to applicable law, KeyBank may setoff without notice to me and charge
against funds or other property in the Account any liability, obligation or debt of me to
KeyBank under this Agreement or otherwise and whether such debt, liability or obligation
is joint or several, primary or secondary, absolute or contingent. I understand and agree
that KeyBank may have additional setoff rights under the Deposit Account Agreement that
governs the deposits accounts.
Governing Law. This Agreement is governed by the laws of the State of Ohio, without
regard to conflicts of law principles and applicable federal law, but with respect to all fees
and charges related to the Account, federal law alone shall govern.
Severability; Waiver. If any term of the Agreement is held to be invalid or unenforceable
by any court, or regulatory or self-regulatory agency or body, such invalidity or
unenforceability will affect only such term. The remaining terms of this Agreement will
not be affected and will be construed as if the invalid or unenforceable term were not
contained in this Agreement. No provision of this Agreement may be waived, altered or
modified unless the same is in writing and signed by an authorized officer of KeyBank.
No waiver of this Agreement may be implied from any course of dealing between me and
KeyBank.
Amendment/Termination. KeyBank may amend the terms of this agreement at
any time. KeyBank may terminate this agreement at any time and I can terminate this
agreement at any time. I will continue to be responsible for any obligation incurred by it
prior to termination.
October 2016
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HEALTH SAVINGS ACCOUNT DISCLOSURE
KeyBank National Association
Employer contributions, up to the limits allowed by law, are excludible from your income.
Your employer may permit you to elect to make contributions through a pre-tax salary
reduction program through a cafeteria plan or through an after-tax deduction of your
wages.
Member FDIC
Introduction
In this Disclosure, you and your refer to the individual for whose benefit the health
savings account (“HSA”) is created. KeyBank and Custodian refer to KeyBank, N.A.,
the Custodian of the HSA. This disclosure is a summary of KeyBank’s health savings
account program (“KeyBank HSA”). If there is any inconsistency or ambiguity between
this summary and the Custodial Agreement, the terms of the Custodial Agreement will
govern and control.
You do not pay income taxes on the earnings and interest generated within your HSA and
they are not reported on your tax return. Thus, your undistributed HSA balance grows
tax-free. Distributions from the HSA are not taxable income if they are used exclusively to
pay or reimburse qualified medical expenses. If distributions are used for other purposes,
they are included in your gross income and generally subject to an additional 20% penalty.
Your Right to Revoke Your HSA
Only eligible individuals may establish an HSA with a qualified trustee or custodian.
Additionally, contributions to an HSA are permitted only if the owner of the HSA is an
eligible individual. A qualified trustee or custodian is any insurance company, bank
(including a similar financial institution as defined in Section 408(n)), or any other
person approved by the Internal Revenue Service to be a trustee or custodian. An eligible
individual is a natural person who, on the first day of any given month, is covered under a
qualified high-deductible health plan (“HDHP”). However, even if covered under an HDHP,
an individual is not eligible if the individual is also covered by any other health plan that
is not an HDHP, with certain exceptions for limited types of coverage explained below. In
addition, the individual must not be enrolled in Medicare (generally, age 65) and must not
be claimed as a dependent on another person’s tax return.
Who may establish a Health Savings Account?
You have the right to revoke your KeyBank HSA within seven (7) days from the date
you open it, without incurring any costs. However, you will be deemed to have waived
or forfeited this right if you initiate any withdrawals or investments within the seven (7)
day revocation period. You will be bound by the terms of this Disclosure and Custodial
Agreement as of the date you receive these documents. You will be deemed to have
received these documents on the date you opened your HSA. If you do not agree to be
bound by the terms of the Disclosure and Custodial Agreement, you must notify KeyBank
in writing within seven days of the date on which the Disclosure and Custodial Agreement
are deemed received. To revoke your HSA, you must notify KeyBank in writing. The
following information must be included in the notice:
•the statement “I want to revoke my HSA”,
•your signature,
•the date,
•your full name (printed),
•your complete address, and
•your HSA account number or Social Security number.
You alone are responsible for determining whether you are eligible to establish or
contribute to an HSA. KeyBank may, but is not required to, ask for proof or a certification,
in a form acceptable to KeyBank, that you are an eligible individual, including a statement
that you are covered by a health plan that meets all of the requirements of an HDHP.
What is a High Deductible Health Plan?
A high-deductible health plan is a health plan that satisfies certain dollar limits with respect
to annual deductibles and out-of-pocket expenses. For instance, if you have self-only
coverage, an HDHP is a health plan that has a minimum annual deductible of $1300.00
and annual out-of-pocket expenses not exceeding $6550.00 (in 2016). For 2017, the
minimum annual deductible is $1300.00 and the maximum annual out-of-pocket expense
amount is $6550.00. Out-of-pocket expenses generally include deductibles, co-payments
and other amounts, but not premiums. If you have family coverage (which includes any
coverage other than self-only), your minimum annual deductible is $2600.00 and annual
out-of-pocket expenses should not exceed $13100.00 (in 2016). For 2017, the minimum
annual deductible and maximum out-of-pocket expense amounts are $2600.00 and
$13100.00 respectively.
Your letter must be postmarked no later than the seventh day after you opened your HSA
or on which the Disclosure and Agreement are deemed received. You must mail your
notice to the address below:
KeyBank, N.A.
P.O. Box 1300
Buffalo, New York 14240-1300
Notice sent by mail must be postmarked within the seven day period. It will be considered
to have been mailed on the postmarked date if it is:
•properly addressed,
•delivered by U.S. mail,
•sent postage paid (first class), and
•enclosed in an envelope or other appropriate wrapper.
A health plan does not fail to be an HDHP merely because it does not have a deductible for
preventive care. A network health plan that has a higher out-of-pocket expense limit for
services provided outside the network will not fail to be an HDHP even if the out-of-pocket
expense limits for out-of-network services exceed the maximum annual out-of-pocket
expense limits ($6550.00 for self-only coverage and $13100.00 for family coverage in
2016; $6550.00 and $13100.00 respectively in 2017).
If you revoke your HSA within the seven-day period, KeyBank will return to you the entire
amount of the contributions or the actual property rolled over from another HSA before
your revocation. If KeyBank received the contributions from your employer, KeyBank will
return those contributions to your employer to the extent permitted by law. You will not earn
interest on the contribution if you revoke. There will be no adjustments for administrative
expenses, or changes in market value. Because of this, contributions you make to it may
be held uninvested during the first seven days after you make your first contribution. When
you revoke your HSA, the initial contribution and return of the contribution are reported to
the IRS. You should consult your financial or tax advisor if you have questions about taxes.
Because the requirements of an HDHP are complex, you should check with your health
plan administrator to determine whether your plan meets the qualifications of an HDHP for
purposes of a health savings account.
What if I have other health coverage?
For purposes of an HSA, you may be covered under more than one health plan but only
if each plan is an HDHP, except for permitted insurance. Permitted insurance includes
an insurance policy if substantially all of the coverage relates to liabilities under workers’
compensation laws, tort liabilities, liabilities relating to ownership or use of property,
insurance for a specified disease or illness, or insurance that pays a fixed amount per
period of hospitalization. In addition you may establish or contribute to an HSA if the
coverage under the other plan is for accidents, disability, dental care, vision care, or longterm care. If you have a prescription drug plan, you may establish or contribute to an
HSA if the drug plan does not provide benefits until the minimum annual deductible of
your HDHP has been satisfied, or if the drug plan is a part of the HDHP and subject to the
minimum annual deductible.
What is a Health Savings Account?
A health savings account is a tax-exempt trust or custodial account established exclusively
for the purpose of paying your qualified medical expenses provided that you are covered
under a high-deductible health plan when contributions are made. Your KeyBank HSA is
a custodial account.
You may not establish a jointly-owned HSA with your spouse or anyone else. An HSA is
established by or on behalf of an individual.
Who may contribute to my health savings account?
Contributions may be accumulated over time or distributed tax-free to pay or reimburse
your qualified medical expenses. However the total amount of contributions that may
be made in a year are limited depending on a number of factors including, the type of
coverage you have under your health plan, your annual deductible amount, your age,
any contributions you have made to other HSAs or Archer Medical Savings Accounts,
and other legal restrictions. You may deduct contributions you make to this HSA on your
federal tax return. You should check with your tax advisor to determine whether you may
deduct HSA contributions on your state tax return.
Contributions may be made by you, your employer, any other person or any combination
thereof. Except for eligible rollovers, contributions must be made in cash. Contributions of
stock or property are not permitted.
How much can I contribute?
Your maximum annual HSA contribution is based on the statutory limit for your type of
coverage. For example, if you have self-only HDHP coverage, your maximum annual
contribution for 2016 is $3350.00; $6750.00 if family HDHP. For 2017, the maximum
annual contribution is $3400.00; $6750.00 if family HDHP.
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The amount you may contribute to your HSA generally is your maximum annual contribution
pro-rated over the number of months during the year where you have HDHP coverage
on the first day of the month. There is an exception, however. If you are covered on
December 1 in any given year, you are treated as an eligible individual for that entire year
as long as you continue to be covered under an eligible HDHP through December of the
following year. If you cease to be covered under an eligible HDHP during this 13 month
period, any amounts attributed to months that you were not covered will be included in
your gross income and subject to a 10 percent additional tax. Although the amount you
can contribute is not determined by the date you establish your account, medical expenses
incurred before the date your HSA is established cannot be reimbursed from the account.
Distributions that are used exclusively to pay or reimburse qualified medical expenses for
yourself, your spouse or your dependent(s) are excludable from your gross income. This is
true even if you are not eligible to make contributions to the KeyBank HSA at the time the
distributions are made.
Distributions made for expenses that are reimbursed by another health plan are includible
in your gross income. Any distribution or payment not used exclusively to pay for qualified
medical expenses for yourself, your spouse or your dependent(s) is includible in your gross
income. This amount is also subject to an additional 20% penalty, except in the case of
distributions made after your death, disability or attainment of age 65. If you indicate that
you are disabled when you take a distribution or payment, Key may require your certified
statement of your disability, and you may need to provide proof of your disability to the
Internal Revenue Service.
If you are age 55 or older and are not enrolled in Medicare, you may make additional
“catch-up” contributions to your HSA. The catch-up contribution amount is $1000.00.
Your HSA cannot receive contributions after you have enrolled in Medicare.
You cannot treat a distribution or payment that is used to pay qualified medical expenses
as an expense paid for medical care for purposes of calculating a deduction under section
213 of the tax code.
You alone are responsible for determining your contribution limit and the amount of
contributions to your KeyBank HSA.
What is the tax treatment of contributions to my HSA?
Distributions may be taken any time after the expense was incurred (even years later)
as long as it was incurred after the HSA was established. You must maintain sufficient
records to show that the distribution was used exclusively to pay or reimburse qualified
medical expenses, that the qualified medical expenses have not been previously paid or
reimbursed from another source and that the medical expenses have not been taken as an
itemized deduction in any prior tax year.
You may deduct from your gross income, in the taxable year for which they are made,
contributions you make to your HSA up to the applicable limits. However, you cannot
deduct contributions made by your employer (generally through a pre-tax cafeteria plan).
Your employer’s contributions to your HSA are not included in your income as long as they
do not exceed the applicable limits.
KeyBank will not (nor is required to) determine whether distributions are used to pay for
qualified medical expenses. You must make that determination and maintain medical
expense records to show that distributions have been made exclusively for qualified
medical expenses.
Contributions for a taxable year may be made in one or more payments at any time prior
to the time prescribed by law (without extensions) for filing your federal income tax return
for the year (generally April 15 of the following year). Contributions cannot be made before
the beginning of the year. Although the annual contribution limit is determined monthly,
the maximum contribution may be made on any day during this time.
What are Qualified Medical Expenses?
Qualified medical expenses are expenses paid by you for medical care, as defined in
section 213(d) of the tax code, for you, your spouse or your dependents. The medical
expenses may not be covered by insurance and must generally be incurred only after the
HSA has been established.
What happens if I exceed my contribution limit?
If your contribution to the HSA exceeds the maximum amount permitted to be contributed
or rolled over, you will have to pay an annual nondeductible 6% excise tax on the amount
of the excess contribution (and any attributable earnings) each year that the excess
contribution remains in your HSA.
Generally health insurance premiums are not qualified medical expenses. However,
qualified long-term care premiums, health care continuation coverage required under
Federal law, i.e. COBRA, and premiums for health care coverage while you are receiving
unemployment compensation may be paid from an HSA. In addition, for individuals eligible
for Medicare, distributions to pay premiums for Medicare Parts A and B, a Medicare HMO,
the individual’s share of employer-sponsored health insurance, or the individual’s share of
employer-sponsored retiree health insurance are permitted. Premiums to pay for Medigap
insurance are not qualified medical expenses.
Generally, you can avoid the 6% excise tax by withdrawing the full amount of the excess
contribution and the earnings on that excess no later than the due date (including
extension) of your federal tax return for the taxable year of the contribution to the HSA.
However, the earnings on the excess contribution will be included in your gross income for
the year you made the excess contribution and will be subject to the 20% penalty tax (if
you are under the age of 65).
What are the rules applicable to Rollovers and Transfers?
What if I take a distribution by mistake?
A rollover is a distribution of cash or other assets from one HSA program and a
corresponding deposit of those assets into another HSA program within a prescribed
period (generally 60 days). A transfer is a direct movement of cash or other assets from
one HSA trustee or custodian to another.
You must notify KeyBank if you take a distribution that you reasonably believed was a
qualified medical expense but later realized was not. KeyBank may, but is not required to,
accept a return of the mistaken distribution. If accepted by KeyBank, you must return the
mistaken distribution to your KeyBank HSA no later than April 15 of the year following the
year you discovered the mistake. Under these circumstances, the mistaken distribution
is not includible in your gross income and is not subject to the 20% penalty tax for early
withdrawal. The IRS may ask you to provide clear and convincing evidence that the
amount was distributed because of a mistake of fact due to reasonable cause. KeyBank
may rely on your representation that the distribution was a mistake. KeyBank may charge
an administrative fee for processing your mistaken distribution.
Your KeyBank HSA will accept rollovers and transfers from Archer MSAs and other
HSAs. Rollovers and transfers are not subject to the contribution limits. Your KeyBank
HSA will not accept rollovers or transfers from an individual retirement account, from
a health reimbursement arrangement, or from a health flexible spending arrangement.
Notwithstanding the preceding sentence, the Health Opportunity Patient Empowerment
Act of 2006 contains an exception and special rules for one-time funding of your HSA
from an individual retirement account, health reimbursement arrangement or health
flexible spending arrangement. Please consult your tax advisor or IRS Publication 969
for more details.
What happens to my HSA when I die?
On your death, your KeyBank HSA will be distributed to the individual you designate as
your beneficiary. If you have not designated a beneficiary, if the beneficiary you named
dies before you or if KeyBank, after a reasonable search, is unable to locate your named
beneficiary, the assets in your KeyBank HSA will be distributed to your estate.
You may roll over a distribution to your KeyBank HSA from another HSA within 60 days
after the date of the distribution so long as a prior distribution has not been rolled over to
your KeyBank HSA during the 12-month period ending on the date of the distribution. You
may transfer your KeyBank HSA to another health savings account trustee or custodian
at any time.
If your surviving spouse is your named beneficiary, your KeyBank HSA will be treated
as your spouse’s HSA on your death. If someone other than your spouse is your named
beneficiary, your KeyBank HSA will cease to be an HSA as of the date of your death, and
the value of the HSA as of the date of death will be included in your beneficiary’s gross
income for that year for federal income tax purposes. If your beneficiary is your estate, the
value of the HSA will be includible in your gross income in your final federal income tax
return. All distributions from the KeyBank HSA will be reported on IRS Form 1099-SA.
What are the rules applicable to distributions from my KeyBank HSA?
You may take distributions from your KeyBank HSA at any time. KeyBank, in its own
discretion, may permit distributions through one or more of the following means:
•payments made directly to you;
•payments made to a medical service provider as you direct;
•check writing capabilities;
•debit card; or
•preauthorized or prearranged electronic debits
As long as your beneficiary is not your estate, the amount that is includable in the
beneficiary’s gross income is reduced by any payments from your KeyBank HSA made for
your qualified medical expenses, if paid within one year after death.
What other rules apply to my HSA?
Your interest in your KeyBank HSA is nonforfeitable at all times. If any amount is
transferred to someone else or pledged as collateral for a loan, that amount will be treated
as a distribution in the year the loan or transfer occurs. Tax penalties may also apply.
Separate rules apply to these distribution options and KeyBank may require you to sign
separate agreements for any of these services.
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If you or your beneficiary engage in any transaction prohibited by section 4975(c) of the
tax code, your KeyBank HSA will cease to be an HSA and is treated as distributing all
assets on the first day of the year. Tax penalties may also apply.
The assets of this HSA may not be invested in collectibles (as defined in Section 408(m)
of the Internal Revenue Code), life insurance contracts, nor may they be commingled with
other property except in a common trust fund or common investment fund.
MISCELLANEOUS DISCLOSURES
Model Document
This HSA is based upon model documents provided by the Internal Revenue Service.
Amendment of the HSA and this Disclosure
KeyBank reserves the right to amend this HSA to conform to changes in the tax laws
or for other reasons. KeyBank may also amend this Disclosure from time to time and
in any respect. If KeyBank amends the HSA or this Disclosure, KeyBank will give you
written notice of the amendment, its substance, and the date the amendment will be
effective. Any amendment to this Disclosure will take effect unless, within the 30-day
period following the date on the notice or within such period as the notice may specify,
KeyBank receives written notice from you of your refusal to consent to the amendment
and your rollover or transfer of your KeyBank HSA to another custodian or trustee.
Fees
KeyBank is permitted to charge reasonable administrative and other fees. KeyBank will
notify you of the applicable fee schedule at the time you establish your KeyBank HSA.
KeyBank will also notify you in advance in writing of any changes in the fee schedule that it
makes from time to time. Any special expenses relating to administration of your KeyBank
HSA will also be charged against your KeyBank HSA. KeyBank may deduct its fees from
your KeyBank HSA.
Gain or Loss of Account
KeyBank cannot project or guarantee the value of this HSA. This is because the value will
depend on the investment options available to you, which investments you choose and on
the terms of those investments.
Key Investment Services Brokerage Account Services
Your KeyBank HSA includes a feature that enables you to open a brokerage account with
Key Investment Services (“KIS”), an affiliate broker-dealer, and purchase exchangetraded investments. The terms governing such brokerage account will be set forth in
separate agreements and disclosures which will be provided to you. KIS reserves the right
to add, remove and modify the terms of any additional product or service (including fees)
in accordance with the rules governing such additional product or service. Additional fees
may apply.
Additional Products and Services
KeyBank, in its own discretion, may offer additional products and services in conjunction
with your KeyBank HSA. These additional products and services may include deposit
accounts, payment vehicles, investment capabilities or other services. KeyBank may
charge additional fees for additional products and services, and such fees shall be in
addition to the fees charged for providing custodial services in connection with your
KeyBank HSA.
The terms governing any additional product or service that you select will be set forth in
separate agreements and disclosures which KeyBank will provide you before KeyBank
begins providing such additional product or service. KeyBank reserves the right to add,
remove and modify the terms of any additional product or service (including fees) in
accordance with the rules governing such additional product or service. There may be a
penalty for early withdrawals, even if the proceeds will be contributed directly to another
HSA. Early withdrawal penalties may reduce your principal. In addition, you may have to
pay tax penalties for certain distributions from your KeyBank HSA.
Legal and Tax Advice
KeyBank cannot give you tax or legal advice on how establishing an HSA, contributing
to it, paying qualified medical expenses or making rollovers or transfers to and/or from
an HSA applies to your particular situation. You must consult with your attorney or other
tax advisor about these matters. You alone are responsible for complying with the tax
law rules, making contributions within the applicable limits, keeping sufficient records
to demonstrate whether your distributions were made to pay or reimburse your qualified
medical expenses, and any tax consequences of this HSA. KeyBank’s responsibility is
limited to processing your contributions and distributions in accordance with the terms of
this HSA and reporting in accordance with the requirements of the IRS.
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HSA – HEALTH SAVINGS CUSTODIAL ACCOUNT
(Under Section 223(a) of the Internal Revenue Code)
CUSTODIAL AGREEMENT
KeyBank National Association
Effective October 17, 2008
Article VI
6.01Distributions of funds from this HSA may be made upon the direction of the
Account Owner.
Form 5305-C
(November 2007)
Department of the Treasury
Internal Revenue Service
6.02Distributions from this HSA that are used exclusively to pay or reimburse qualified
medical expenses of the Account Owner, his or her spouse, or dependents are
tax-free. However, distributions that are not used for qualified medical expenses
are included in the Account Owner’s gross income and are subject to an
additional 10 percent tax on that amount. The additional 10 percent tax does not
apply if the distribution is made after the Account Owner’s death, disability, or
reaching age 65.
Do Not File With the Internal Revenue Service
Article I
1.01The Custodian will accept additional cash contributions for the tax year made
by the Account Owner or on behalf of the Account Owner (by an employer,
family member or any other person). No contributions will be accepted by the
Custodian for any Account Owner that exceeds the maximum amount for family
coverage plus the catch-up contribution.
6.03 The Custodian is not required to determine whether the distribution is for the
payment or reimbursement of qualified medical expenses. Only the Account
Owner is responsible for substantiating that the distribution is for qualified
medical expenses and must maintain records sufficient to show, if required, that
the distribution is tax-free.
1.02Contributions for any tax year may be made at any time before the deadline
for filing the Account Owner’s federal income tax return for that year (without
extensions).
Article VII
7.01If the Account Owner dies before the entire interest in the account is distributed,
the entire account will be disposed of as follows:
1.03Rollover contributions from an HSA or an Archer Medical Savings Account
(Archer MSA) (unless prohibited under this agreement) need not be in cash and
are not subject to the maximum annual contribution limit set forth in Article II.
7.02If the designated beneficiary is the Account Owner’s spouse, the HSA will
become the spouse’s HSA as of the date of death.
1.04 Qualified HSA distributions from a health flexible spending arrangement or
health reimbursement arrangement must be completed in a trustee-to-trustee
transfer and are not subject to the maximum annual contribution limit set forth in
Article II.
7.03 If the designated beneficiary is not the Account Owner’s spouse, the HSA will
cease to be an HSA as of the date of death. If the beneficiary is the Account
Owner’s estate, the fair market value of the account, as of the date of death
is taxable on the Account Owner’s final return. For other beneficiaries, the fair
market value of the account is taxable to that person in the tax year that includes
such date.
1.05 Qualified HSA funding distributions from an individual retirement account must
be completed in a trustee-to-trustee transfer and are subject to the maximum
annual contribution limit set forth in Article II.
Article VIII
Article II
8.01The Account Owner agrees to provide the Custodian with information necessary
for the Custodian to prepare any report or return required by the IRS.
2.01For calendar year 2008, the maximum annual contribution limit for an Account
Owner with single coverage is $2,900. This amount increases to $3,000
in 2009. For calendar year 2008, the maximum annual contribution limit for
an Account Owner with family coverage is $5,800. This amount increases to
$5,950 in 2009. These limits are indexed for cost-of-living adjustments.
8.02The Custodian agrees to prepare and submit any report or return as prescribed
by the IRS.
Article IX
2.02Contributions to Archer MSAs or other HSAs count toward the maximum annual
contribution limit to this HSA.
9.01Notwithstanding any other article that may be added or incorporated in this
agreement, the provisions of Articles I through VIII and this sentence are
controlling. Any additional article in this agreement that is inconsistent with
section 223 or IRS published guidance will be void.
2.03 For calendar year 2008, an additional $900 catch-up contribution may be
made for an Account Owner who is at least age 55 or older and not enrolled
in Medicare. The catch-up contribution increases to $1,000 in 2009 and later
years.
Article X
2.04Contributions in excess of the maximum annual contribution limit are subject to
an excise tax. However, the catch-up contributions are not subject to an excise
tax.
10.01This agreement will be amended from time to time to comply with the provisions
of the Code or IRS published guidance. Other amendments may be made with
the consent of the persons whose signatures appear on the Adoption Agreement.
Article III
Article XI-Trust Provisions
3.01It is the responsibility of the Account Owner to determine whether contributions
to this HSA have exceeded the maximum annual contribution limit described in
Article II. If contributions to this HSA exceed the maximum annual contribution
limit, the Account Owner shall notify the Custodian that there exist excess
contributions to the HSA. It is the responsibility of the Account Owner to request
the withdrawal of the excess contribution and any net income attributable to
such excess contribution.
11.01Applicable Law: This Custodial Agreement shall be governed by the laws of
the State of Ohio.
11.02Annual Accounting: The Custodian shall, at least annually, provide the
Account Owner or Designated Beneficiary (in the case of death) with an
accounting of such Account Owner’s account. Such accounting shall be deemed
to be accepted by the Account Owner or Designated Beneficiary, if the Account
Owner or Designated Beneficiary does not object in writing within 60 days after
the mailing of such accounting statement.
Article IV
11.03Amendment: The Account Owner (or the Designated Beneficiary if the Account
Owner has died) irrevocably delegates to the Custodian the right and power to
amend this Custodial Agreement. Except as hereafter provided, the Custodian
will give the Account Owner 30 days prior written notice of any amendment. In
case of an amendment, including a retroactive amendment, required by law, the
Custodian will provide written notice to the Account Owner of the amendment
within 30 days after the amendment is made, or if later, by the time that notice
of the amendment is required to be given under regulations or other guidance
provided by the IRS. The Account Owner (or Designated Beneficiary, if applicable)
shall be deemed to have consented to any such amendment unless the Account
Owner (or Designated Beneficiary) notifies the Custodian to the contrary within
30 days after notice to the Account Owner or Designated Beneficiary and
requests a distribution or transfer of the balance in the account.
4.01
The Account Owner’s interest in the balance in this custodial account is
nonforfeitable.
Article V
5.01No part of the custodial funds in this account may be invested in life insurance
contracts or in collectibles as defined in section 408(m).
5.02The assets of this account may not be commingled with other property except in
a common trust fund or common investment fund.
5.03 Neither the Account Owner nor the Custodian will engage in any prohibited
transaction with respect to this account (such as borrowing or pledging the
account or engaging in any other prohibited transaction as defined in section
4975).
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11.04Resignation and Removal of Custodian:
(a)The Custodian may resign and appoint a successor trustee or custodian to
serve under this agreement or under another governing agreement selected
by the successor trustee or custodian by giving the Account Owner written
notice at least 30 days prior to the effective date of such resignation and
appointment, which notice shall also include or be provided under separate
cover a copy of such other governing instrument, if applicable, and the
related disclosure statement. The Account Owner shall then have 30 days
from the date of such notice to either request a distribution of the entire
account balance or designate a different successor trustee or custodian
and notify the Custodian of such designation. If the Account Owner does
not request distribution of the account balance or notify the Custodian of
the designation of a different successor trustee or custodian within such 30
day period, the Account Owner shall be deemed to have consented to the
appointment of the successor trustee or custodian and the terms of any new
governing instrument, and neither the Account Owner nor the successor
shall be required to execute any written document to complete the transfer
of the account to the successor trustee or custodian. The successor trustee
or custodian may rely on any information, including beneficiary designations,
previously provided by the Account Owner to the Custodian.
(b) The Account Owner may at any time remove the Custodian and replace the
Custodian with a successor trustee or custodian of the Account Owner’s
choice by giving 30 days written notice of such removal and replacement.
The Custodian shall then deliver the assets of the account as directed by the
Account Owner. However, the Custodian may retain a portion of the assets
of the HSA as a reserve for payment of any anticipated remaining fees and
expenses, and shall pay over any remainder of this reserve to the successor
trustee or custodian upon satisfaction of such fees and expenses.
(c)The Custodian may resign and demand that the Account Owner appoint a
successor trustee or custodian of this HSA by giving the Account Owner
written notice at least 30 days prior to the effective date of such resignation.
The Account Owner shall then have 30 days from the date of such notice
to designate a successor trustee or custodian, notify the Custodian of the
name and address of the successor trustee or custodian, and provide the
Custodian with appropriate evidence that such successor has accepted the
appointment and is qualified to serve as trustee or custodian of an individual
retirement account.
1.If the Account Owner designates a successor trustee or custodian and
provides the Custodian evidence of the successor’s acceptance of
appointment and qualification within such 30-day period, the Custodian
shall then deliver all of the assets held by the Custodian in the account
(whether in cash or personal or real property, wherever located, and
regardless of value) to the successor trustee or custodian.
2.If the Account Owner does not notify the Custodian of the appointment
of a successor trustee or custodian within such 30 day period, then the
Custodian may distribute all of the assets held by the Custodian in the
account (whether in cash or personal or real property, wherever located,
and regardless of value) to the Account Owner, outright and free of
trust, and the Account Owner shall be wholly responsible for the tax
consequences of such distribution.
In either case, the Custodian may expend any assets in the account to pay
expenses of transfer (including re-registering the assets and preparation of
deeds, assignments, and other instruments of transfer or conveyance) to the
successor trustee or custodian or the Account Owner, as the case may be.
In addition, the Custodian may retain a portion of the assets as a reserve for
payment of any anticipated remaining fees and expenses. Upon satisfaction
of such fees and expenses, the Custodian shall pay over any remainder of
the reserve to the successor trustee or custodian or to the Account Owner,
as the case may be.
(d)In the event that for any reason the Custodian is not certain as to who is
entitled to receive all or part of the Custodial Funds, the Custodian reserves
the right to withhold any payment from the Custodial account, to request
a court ruling to determine the disposition of the Custodial assets, and to
charge the Custodial account for any expenses incurred in obtaining such
legal determination.
11.06Manner of Distributions: Distributions from this HSA by or on behalf of the
Account Owner shall be made first from cash in the HSA checking account. On
any business day (Monday through Friday, excluding federal holidays and days
the Custodian or the New York Stock Exchange is closed) when the cash in the
HSA checking account is not sufficient to cover the distribution, investments
in this HSA shall be liquidated in order, beginning with the most conservative
(money market account) and ending with the most aggressive. In other words,
all funds in this HSA’s most conservative investment are liquidated before funds
in the next most conservative investment are liquidated. (For information on the
risk and return characteristics of funds, call Customer Service.) The amount
liquidated will be equal to the lesser of: (1) the amount of the distribution request
not covered by funds in the HSA checking account; or (2) the value of the
Account Owner’s shares in the mutual funds. The share value will be equal to the
fund closing price on the day of the distribution.
11.07Responsibilities: The Account Owner agrees that all information and
instructions given to the Custodian by the Account Owner is complete and
accurate and that the Custodian shall not be responsible for any incomplete
or inaccurate information provided by the Account Owner or Designated
Beneficiary. The Account Owner agrees to be responsible for all tax
consequences arising from contributions to and distributions from this Custodial
account and acknowledges that no tax advice has been provided by the
Custodian. The Account Owner also agrees to be responsible for determining his
or her eligibility to participate in this HSA, including the amount and deductibility
of HSA contributions to or for distributions from the HSA for Federal and/or state
income tax purposes. The Account Owner also agrees to be responsible for
determining whether or not the health plan meets the requirements of a High
Deductible Health Plan and whether any payments from the HSA are used for
medical expenses.
11.08Designated Beneficiary: Except as may be otherwise required by State law,
in the event of the Account Owner’s death, the balance in the account shall be
paid to the beneficiary or beneficiaries designated by the Account Owner on a
beneficiary designation form acceptable to and filed with the Custodian. The
Account Owner may change the Account Owner’s beneficiary or beneficiaries
at any time by filing a new beneficiary designation with the Custodian. If no
beneficiary designation is in effect, if none of the named beneficiaries survive
the Account Owner, or if the Custodian cannot locate any of the named
beneficiaries after reasonable search, any balance in the account will be payable
to the Account Owner’s estate. If the Account Owner’s Designated Beneficiary
is his or her spouse, the spouse may elect to treat this HSA as the spouse’s own
HSA. The term Account Owner also includes the Designated Beneficiary, where
appropriate, throughout this Agreement.
Article XII-Self-Directed HSA Provisions
12.01Investment of Contributions:
(a)At the direction of the Account Owner (or the direction of the designated
beneficiary upon the Account Owner’s death), the Custodian shall invest all
contributions to the account and earnings thereon in investments acceptable
to the Custodian, which may include marketable securities traded on a
recognized exchange or “over the counter”, certificates of deposit, and
other investments to which the Custodian consents, in such amounts as are
specifically selected and specified by the Account Owner in orders to the
Custodian in such form as may be acceptable to the Custodian, without any
duty to diversify and without regard to whether such property is authorized
by the laws of any jurisdiction as an appropriate investment. The Custodian
shall be responsible for the execution of such orders and for maintaining
adequate records thereof. However, if any such orders are not received as
required, or, if received, are unclear in the opinion of the Custodian, all or a
portion of the contribution may be held uninvested without liability for loss
of income or appreciation, and without liability for interest pending receipt
of such orders or clarification, or the contribution may be returned. The
Custodian may, but need not, establish programs under which cash deposits
in excess of a minimum set by it will be periodically and automatically
invested in interest-bearing investment funds. The Custodian shall have no
duty other than to follow the written investment directions of the Account
Owner, and shall be under no duty to question said instructions and shall not
be liable for any investment losses sustained by the Account Owner.
(b)The Account Owner understands that the Custodian and/or its affiliates may
receive and retain compensation for products and services purchased from
or through the Custodian or an affiliate, or from or through a syndicate or
selling group that includes Agent or an affiliate. Such services and products
11.05Custodian’s Fees and Expenses:
(a)The Account Owner or Designated Beneficiary agrees to pay the Custodian
any and all fees specified in the Custodian’s current published fee
schedule for establishing and maintaining this HSA, including any fees
for distributions from, transfers from, and terminations of this HSA. The
Custodian may change its fee schedule at any time by giving the Account
Owner or Designated Beneficiary 30 days prior written notice.
(b)The Account Owner or Designated Beneficiary agrees to pay any expenses
incurred by the Custodian in the performance of its duties in connection with
the account. Such expenses include, but are not limited to, administrative
expenses, such as legal and accounting fees, and any taxes of any kind
whatsoever that may be levied or assessed with respect to such account.
(c) All such fees, taxes, and other administrative expenses charged to the
account shall be collected either from the assets in the account or from any
contributions to or distributions from such account if not paid by the Account
Owner or Designated Beneficiary, but the Account Owner or Designated
Beneficiary shall be responsible for any deficiency.
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Article XIII-Glossary of Terms
include, but are not limited to: execution of transactions through a brokerdealer affiliate of the Custodian; purchasing shares of the Victory Portfolios;
and purchasing securities underwritten or otherwise distributed by the
Custodian or an affiliate. By establishing this HSA, the Account Owner
approves the fees that are paid to the Custodian and/or its affiliates for this
HSA.
13.01Account Owner: The individual on whose behalf the HSA is established or, in
the case of a surviving spouse of such deceased individual, is maintained.
13.02Adoption Agreement: The form furnished by the Custodian used to establish
the HSA. The Adoption Agreement is deemed to be a part of this Custodial
Agreement.
12.02Registration: All assets of the account shall be registered in the name of
the Custodian or of a suitable nominee. The same nominee may be used with
respect to assets of other investors whether or not held under agreements
similar to this one or in any capacity whatsoever. However, each Account
Owner’s account shall be separate and distinct; a separate account therefore
shall be maintained by the Custodian, and the assets thereof shall be held by the
Custodian in individual or bulk segregation either in the Custodian’s vaults or in
depositories approved by the Securities and Exchange Commission under the
Securities Exchange Act of 1934.
13.03Archer MSA or Medical Savings Account (MSA): A medical savings
account described in Section 220 IRC.
13.04Dependents: Dependents include any individuals who receive over half of their
support for the calendar year from the taxpayer as defined in Section 152 IRC.
13.05Designated Beneficiary: The term “Designated Beneficiary” means the
person or persons named by the Account Owner as beneficiary of the account
upon the death of the Account Owner.
12.03Investment Advisor: The Account Owner may appoint an Investment Advisor,
qualified under Section 3(38) of the Employee Retirement Income Security
Act of 1974 (ERISA), to direct the investment of his HSA. The Account Owner
shall notify the Custodian in writing of any such appointment by providing the
Custodian a copy of the instruments appointing the Investment Advisor and
evidencing the Investment Advisor’s acceptance of such appointment, an
acknowledgment by the Investment Advisor that it is a fiduciary of the account,
and a certificate evidencing the Investment Advisor’s current registration
under the Investment Advisor’s Act of 1940. The Custodian shall comply with
any investment directions furnished to it by the Investment Advisor, unless and
until it receives written notification from the Account Owner that the Investment
Advisor’s appointment has been terminated. The Custodian shall have no duty
other than to follow the written investment directions of such Investment Advisor
and shall be under no duty to question said instructions, and the Custodian shall
not be liable for any investment losses sustained by the Account Owner.
13.06Employer: The Employer includes the Account Owner’s employer, the employer
of the Account Owner’s spouse, a self-employed individual, or the spouse of a
self-employed individual. All employers which are members of a controlled group
under Section 414 are considered a single employer for purposes of these rules.
13.07Flexible Spending Arrangement (FSA): A flexible spending plan described in
Section 125 IRC.
13.08Health Reimbursement Arrangement (HRA): A Health Reimbursement
Arrangement described in Sections 105 or 106 IRC.
13.09High Deductible Health Plan (HDHP): Generally, an HDHP is a health plan
that satisfies certain requirements with respect to deductibles and out-of-pocket
expenses. In the case of self-only coverage, the High Deductible Health Plan’s
annual deductible cannot be less than $1,100 (for calendar year 2008), adjusted
for COLAs. In the case of any other coverage (family coverage), the annual
deductible cannot be less than $2,200 (for calendar year 2008), adjusted for
COLAs.
12.04No Investment Advice: The Custodian does not assume any responsibility for
rendering advice with respect to the investment and reinvestment of Account
Owner’s account and shall not be liable for any loss which results from Account
Owner’s exercise of control over his account. The Custodian and Account Owner
may specifically agree in writing that the Custodian shall render such advice,
but the Account Owner shall still have and exercise exclusive responsibility for
control over the investment of the assets of his account, and the Custodian shall
not have any duty to question his investment directives.
The sum of the annual deductible and the other annual out-of-pocket expenses
required to be paid under the plan (other than for premiums) for covered benefits
may not exceed $5,600 (for calendar year 2008), adjusted for COLAs, for selfonly coverage, and $11,200 (for calendar year 2008), adjusted for COLAs, for
family coverage. In the case of family coverage, a plan is an HDHP only if, under
the terms of the plan and without regard to which family member or members
incur expenses, no amounts are payable from the HDHP until the family has
incurred annual covered medical expenses in excess of the minimum annual
deductible. A plan does not fail to be an HDHP merely because it does not have
a deductible (or has a small deductible) for certain preventive care. Except for
certain preventive care, a plan may not provide benefits for any year until the
deductible for that year is met.
12.05Prohibited Transactions: Notwithstanding anything contained herein to the
contrary, the Custodian shall not lend any part of the corpus or income of the
account to; pay any compensation for personal services rendered to the account
to; make any part of its services available on a preferential basis to; acquire for
the account any property, other than cash, from; or sell any property to, any
Account Owner, any member of a Account Owner’s family, or a corporation
controlled by any Account Owner through the ownership, directly or indirectly,
of 50 percent or more of the total combined voting power of all classes of stock
entitled to vote, or of 50 percent or more of the total value of shares of all classes
of stock of such corporation.
A High Deductible Health Plan shall not include a plan where substantially all
of the coverage is for accidents, disability, dental care, vision care, or longterm care. Also a high deductible health plan shall not fail to be treated as an
HDHP merely because the individual has coverage for any benefit provided
by “permitted insurance”. Permitted insurance is insurance under which
substantially all of the coverage provided relates to liabilities incurred under
workers’ compensation laws, tort liabilities, liabilities relating to ownership or
use of property (e.g., automobile insurance), insurance for a specified disease
or illness, and insurance that pays a fixed amount per day (or other period) of
hospitalization.
12.06Unrelated Business Income Tax: If the Account Owner directs investment
of the account in any investment which results in unrelated business taxable
income, it shall be the responsibility of the Account Owner to so advise the
Custodian and to provide the Custodian with all information necessary to prepare
and file any required returns or reports for the account. As the Custodian may
deem necessary, and at the Account Owner’s expense, the Custodian may
request a taxpayer identification number for the account, file any returns, reports,
and applications for extension, and pay any taxes or estimated taxes owed
with respect to the account. The Custodian may retain suitable accountants,
attorneys, or other agents to assist it in performing such responsibilities.
13.10IRC: Refers to the Internal Revenue Code, as amended.
13.11Medical Care: Medical Care includes amounts paid for the types of medical
care described in Section 213(d) IRC.
12.07Disclosures and Voting: The Custodian shall deliver, or cause to be executed
and delivered, to Account Owner all notices, prospectuses, financial statements,
proxies and proxy soliciting materials relating to assets credited to the account.
The Custodian shall not vote any shares of stock or take any other action,
pursuant to such documents, with respect to such assets except upon receipt by
the Custodian of adequate written instructions from Account Owner.
13.12Permitted Insurance: Permitted Insurance shall include the types of insurance
described in Section 223(c)(3) IRC.
13.13Qualified Medical Expenses: Qualified medical expenses include amounts
paid with respect to the individual, the individual’s spouse, and the individual’s
dependents, for medical care defined under Section 213(d) and such amounts
are not compensated for by insurance or otherwise. Qualified Medical Expenses
do not include any payment for insurance, except in the following cases:
(a)a health plan during any period of continuation coverage required under any
Federal law;
(b)
a qualified long-term care insurance contract (as defined in section
7702B(b));
(c)
a health plan during a period in which the individual is receiving
unemployment compensation under any Federal or State law; or
12.08Miscellaneous Expenses: In addition to those expenses set out in Article XI,
section 11.05 of this plan, the Account Owner agrees to pay any and all expenses
incurred by the Custodian in connection with the investment of the account,
including expenses of preparation and filing any returns and reports with regard
to unrelated business income, including taxes and estimated taxes, as well as
any transfer taxes incurred in connection with the investment or reinvestment of
the assets of the account.
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(d)in the case of an Account Owner who has attained the age specified in
section 1811 of the Social Security Act, any health insurance other than
a Medicare supplemental policy (as defined in section 1882 of the Social
Security Act).
13.14Custodial Account: The term Custodial Account means the account
established under the terms of this HSA Agreement.
13.15 Custodian: The Custodian shall be KeyBank National Association and is
approved by the IRS to serve as Custodian for Health Savings Accounts pursuant
to Section 223(d)(1)(B) IRC.
Copyright 2004, PenServ, Inc.
Control 03101.BNK.HSA.doc (04/09/2004) – updated with permission
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DISCLOSURE STATEMENT AND TERMS AND CONDITIONS
FOR KEYBANK’S HEALTH SAVINGS ACCOUNT CARD
Effective December 1, 2015
KeyBank National Association
Member FDIC
INTRODUCTION
We provide to consumers who make use of our electronic fund transfer services in
connection with Health Savings Accounts the disclosures contained in this Disclosure
Statement and Terms and Conditions (“Disclosure and Terms” or “Agreement”)
before using the service. An electronic fund transfer (“EFT”), generally, is a transfer of
funds initiated electronically. Use of our debit card with features permitting access to your
deposit accounts is an electronic fund transfer (“EFT”). Payments you authorize using
our online bill paying service, and pre-authorized credits and debits to your account also
are EFTs. Some of the disclosures apply only to card-originated EFTs. Some disclosures
apply only to pre-authorized credit and debit EFTs. Specific terms and conditions of our
online bill paying service are contained in a separate agreement which you receive if you
subscribe to that service. EFTs do not include automatic transfers between your accounts
with this Bank.
(f) Record of Transactions Statements. You will obtain and retain a receipt
at the time you engage in a Card Transaction to verify and track Card
Transactions. You will review your Card Transaction activity statements at least
monthly, either by reviewing statements received from us or by accessing the
Key website, www.key.com.
(g) Issuance of Additional or Replacement Cards. You will receive one Card
per account at no cost. Subject to the terms of the Account Plan, you may
request one or more additional Cards for your authorized users. Any additional
cards requested may be subject to a nominal fee by us. You may request a
replacement card for a lost or stolen Card, but we may, in our sole discretion,
determine whether to issue a replacement card and under what conditions,
including any applicable fee or charge.
2. LIABILITY FOR UNAUTHORIZED TRANSFERS.
Tell us AT ONCE if you believe your Card or any Personal Identification Number
(“PIN”) has been lost or stolen. Telephoning is the best way of keeping your possible
losses down.
(a) You could lose all the money in your Account. If you tell us within 2 business
days, you can lose no more than $50.00 if someone used your Card without
your permission. If you do not tell us within 2 business days after you learn
of the loss or theft of your Card, and we can prove we could have stopped
someone from using your Card without your permission if you had told us, you
could lose as much as $500.00.
Also, if your statement shows transfers that you did not make, tell us at once.
If you do not tell us within 60 days after the statement was mailed to you, you
may not get back any money you lost after the 60 days if we can prove that we
could have stopped someone from taking the money if you had told us in time. If
a good reason (such as a long trip or hospital stay) kept you from telling us, we
will extend the time period.
(b) Zero Liability Rule. You will have “Zero Liability” for unauthorized use of your
Card only if the following conditions are met: (i) you have exercised reasonable
care in safeguarding your Card from the risk of loss, theft or “unauthorized
use” and (ii) upon becoming aware of such loss, theft or unauthorized use of
the Card you promptly report the loss, theft or unauthorized use to us. If you
fail to satisfy any of these conditions for a non-PIN or a PIN Card Transaction
and someone uses your Card without your authorization, you could lose the
entire Card Balance. For purposes of this rule, “unauthorized use” means the
use of a MasterCard-branded card by a person other than you who does not
have actual, implied, or apparent authority for such use, and from which you
did not receive any benefit. Zero Liability does not apply: (a) to Cards issued to
entities that are not natural persons; (b) to Cards issued primarily for business,
commercial or agricultural purposes that are not MasterCard Business Card
programs; or (c) to Cards issued or distributed outside MasterCard’s U.S.
Region.
1. HEALTH SAVINGS CARD.
(a)Definitions. In this Disclosure and Terms, the words “we”, “us” and “our” refer
to KeyBank National Association, (sometimes called “KeyBank”), which has
issued a MasterCard® branded debit card (“Card”) that enables you to use
KeyBank’s debit card program (“Program”) to access the available balance
in a Health Savings Account (“HSA” or “Account”) established, maintained
and controlled by you, subject to our HSA terms and conditions, and related
documents, applicable to the HSA (collectively, the “Plan”). The word
“you” and “your” means the owner of the HSA at KeyBank and all of his or
her authorized users to whom we have issued a Card for access to the HSA.
“Card Transaction” means each transaction at an ATM or at a merchant that
accepts the Card. This Agreement is a contract between you and KeyBank.
Your signature on or any use of the Card for a Card Transaction shall constitute
your acceptance of and agreement to the terms of this Agreement. “PIN”
means any Personal Identification Number used in conjunction with a Card for
certain types of transactions.
(b) How the Program and Card Work. In connection with participating in the
Program, you request KeyBank to issue and deliver to you one or more Cards.
You agree that each Card is our property and will be surrendered to us upon
request. You understand that you are responsible for all charges incurred
by using the Card. When you use the Card, you pay an expense which may
qualify for favorable tax treatment under the Internal Revenue Code of 1986,
as amended, (“IRS Code”). We are authorized by you to deduct the amount
of each Card Transaction from the HSA in the same way check transactions
are handled. You further agree that Card Transactions shall be subject to the
terms of this Agreement, the Account Plan, and any applicable federal or state
rules or regulations. We are not obligated to you if any merchant refuses to
honor your Card or retains your Card if authorization for its use is not given. You
agree that all Card Transactions may be presented to your HSA for payment in
full through the use of either sales or credit drafts or electronic transmission of
the transaction information, and that you will, upon request, review transaction
statements. The Card is not a credit card. When you use the Card funds will be
immediately withdrawn from the account.
(c) Health Care Spending Protection. Upon enrollment in an HSA, you may
elect an HSA debit card with Healthcare Spending Protection. This card uses
selective authorization processing with merchant and product codes to assist
your monitoring of and placement of restrictions on the types of expenditures
that may be made with your Card. For detailed tax information on Health Savings
Accounts and requirements for qualified medical expenses, please consult an
attorney, accountant or other tax adviser, or visit sites on the Internet.
(d) HSA Balance. The Card will expire on the expiration date embossed on the
face of the Card. Each time you use the Card, the HSA Balance will be reduced
by the amount of such Card Transaction. A purchase transaction will not be
authorized if the available HSA Balance is not sufficient to cover the Card
Transaction. You understand that we cannot make any decisions about whether
a particular purchase is an eligible purchase under the IRS Code. You agree
that we shall have no liability for payment of any purchase, which is ineligible or
which exceeds your available Account balance.
(e) Your Responsibilities. You accept responsibility for the following: (i)
monitoring and tracking all purchase charges or ATM cash withdrawals incurred
by using the Card, and all Card Transactions incurred; (ii) all information relating
to the HSA and any deductions or exclusion from income on your federal or
state tax returns and filings are your sole responsibility; (iii) each time you
present the Card for a purchase transaction, you accept responsibility for the
charges incurred.
3. ADDRESS AND TELEPHONE NUMBER.
If you believe your Card has been stolen or that someone has transferred or may
transfer money from your Account without your permission, call 1-800-KEY2YOU®
(1-800-539-2968) (TDD 1-800-762-4833) 24 hours daily, or write: KeyBank,
Customer Disputes, NY-31-17-0128, 17 Corporate Woods Blvd., Albany, NY
12211.
NOTE: In order to minimize the risk of losses from lost or stolen cards or PINS, we
strongly suggest that you call us immediately and then confirm in writing.
4. BUSINESS DAYS.
Our business days are Monday through Friday. Saturdays, Sundays, and holidays are
not business days.
5.DEFINITION AND IDENTIFICATION OF TERMINALS AVAILABLE TO
CARDHOLDERS.
For purpose of this Disclosure and Terms, a “terminal” includes automated teller
machines (“ATM”), point of banking (“POB”), and point of sale (“POS”) terminals
(special store terminals at which payment for purchases may be made). An ATM
terminal can be used without the assistance of another person and the use of a PIN
is required to complete a transaction. POB terminals are used with the assistance of
another person, and the use of a PIN is required.
There are two types of point of sale transactions. The first type utilizes special store
terminals at which payment for purchases can be made (“POS/PIN”). POS/PIN
terminals are used with the assistance of a retail store clerk or other operator and
require the use of a PIN. All such persons are agents of the merchant and not of
KeyBank. The second type of point of sale transaction (“POS”) does not require the
use of a PIN. The POS transaction is made by presenting your Card at the time of
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You specifically consent to us sharing information within the KeyCorp family of
companies and with external unaffiliated third parties.
purchase to merchants who have agreed to accept Card purchase transactions. A
signature may be required to authorize this type of transaction. Located on or near
each ATM terminal is a listing of the card issuers and networks whose cardholders
may use the terminal. Sometimes symbols are used instead of names. In most
cases, a larger or more conspicuous sign or symbol will identify the terminal owner
or operator. As used in this Disclosure and Terms, a “KeyBank terminal” is an ATM
located at a KeyBank branch location or those terminals otherwise identified as
KeyBank owned terminals. Refer to the network symbols on the back of your Card for
all other terminal access.
NOTE: You may elect to opt out of information sharing, or may be automatically opted-out
under your state law, as described in our Privacy Policy. If you are opted out, that election
will override this consent to share, except for those instances in which we are otherwise
permitted to share by law without your consent.
We will not disclose information about your account or the transactions or transfers you
make related to your Account under this Agreement except:
(a) if the information is provided to help complete a transaction you initiated;
(b) when you request or consent to the disclosure;
(c) for the exchange of information with reputable credit reporting agencies to maximize
the accuracy and security of such information;
(d) in performance of bona fide corporate due diligence and/or in connection with a
merger, acquisition or divestiture that involves your account;
(e) in order to comply with applicable law, government regulation, or legal process (such
as a court order or subpoena); or
(f) if you have been informed about the possibility of such disclosure.
6.
TYPES OF AVAILABLE TRANSACTIONS AND LIMITS ON TRANSACTIONS
INITIATED USING YOUR BANKING CARD.
(a) Account Access. Your Card will permit you to make transactions on your
checking account as defined in your Deposit Account Agreement and Funds
Availability Policy designated as a Health Savings Account. You may use your
Card to:
1. Withdraw cash from your HSA at an ATM.
2. Pay for purchases out of your HSA at retail POS/PIN terminals.
3.Pay for purchases out of your HSA with a KeyBank Debit Card, at retail POS
locations.
4. Make balance inquiries to your HSA.
5.Conduct other transactions as services and features are added to the
automated banking system.
(b) Limits on Dollar Amount of Transactions.
1.Different withdrawal and purchase limits apply based on the type of
transaction. Each Card has a unique Card number. Daily limits apply to
each Card. You will be allowed to make transactions up to the available
balance in your HSA or up to the maximum Daily Limit, whichever is less.
The Daily Limits are as follows:
(i) Daily ATM Withdrawal Limit:
(ii) Daily Signature/PIN Purchase Limit:
9. YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS.
(a)Terminal Transactions. You will get a receipt at the time you make any
transaction from your account using a terminal in the United States authorized
for use by us.
(b) Pre-authorized Credits. If you have arranged to have recurring direct
deposits made to your Account at least once every 60 days, you can call us
at 1-800-KEY2YOU (1-800-539-2968) (TDD 1-800-762-4833) to find out
whether the deposit has been made. For your protection, we may require
identifying details about your Account before we provide you this information.
(c) Periodic Statements. You will receive a monthly account statement.
$300
10. YOUR RIGHT TO STOP PAYMENT OF PRE-AUTHORIZED PAYMENTS FROM
YOUR ACCOUNT; PROCEDURE FOR DOING SO; RIGHT TO RECEIVE NOTICE OF
VARYING AMOUNTS; BANK’S LIABILITY FOR FAILURE TO STOP PAYMENT.
(a)
Single Pre-authorized Payments and Series of Pre-authorized
Payments. If you wish to stop a single pre-authorized payment or a series of
pre-authorized payments to be made to the same person or company over a
period of time, we must receive your request three (3) business days, or more,
before the single payment or next payment in a series is scheduled to be made.
If you request stop payment on a series of pre-authorized payments, we will
then block all future payments to that payee. A stop payment confirmation will
be mailed to you. You must review the specific details on the confirmation for
accuracy and call the Bank immediately if any of the information is not accurate.
A stop payment request is effective for only six (6) months, unless you renew
it. Also, we may require a copy of the notice that you sent to the payee who
was to receive the pre-authorized payments requesting that the payments be
discontinued. We will charge you our regular stop payment charge for each
stop payment request you give; this charge is detailed in the Personal Deposit
Account Fees and Disclosures.
(b) Notice of Varying Amounts. If these regular payments may vary in amount,
the person you are going to pay 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.
(c) Liability for Failure to Stop Payment of Pre-authorized Payment. If
you order us to stop one of these payments three (3) business days or more
before it is scheduled and we do not do so, we will be liable for your losses or
damages.
$5,000
2.
3.At some types of ATMs, the withdrawal amount may be limited due to
machine constraints, and multiple transactions may be necessary to obtain
the total amount desired.
(c)Limits on Frequency of Transactions.
Other than shown below, there is no limit on the NUMBER of withdrawals,
purchases, or inquiries.
1.There is no limit on the number of ATM withdrawals per monthly statement
period.
2.The number of purchases with a Card is limited to ten (10) per day.
(d) Card Restrictions. Your use of the Card is subject to the following restrictions
and limitations, as well as those set forth elsewhere in this Agreement. When
purchasing gasoline using your Card, you must pay for your purchase at the
gas station service counter and not at the automated fuel dispensers (i.e., gas
pumps). KeyBank will restrict use of your Card in any jurisdiction or country
where such use would be contrary to applicable law or regulation, or which is
identified as presenting a high risk of fraud. Please call 1-800-KEY2YOU for the
current list of countries where transactions are restricted.
7. CHARGES FOR TRANSACTIONS, TRANSFERS AND OTHER SERVICES.
(a)ATM Mini Statement Fee. If you select the transaction titled “Statements”
at a KeyBank ATM you may receive a mini statement. This “mini statement”
transaction will provide you with four options; the last five debit card
transactions, the last five checks paid, the last five deposits made or the last
ten transactions made on your HSA. Each option is considered a separate
transaction and your account will be assessed a $1.50 fee for each requested
transaction. The information provided is based on our system retention
schedule. The “ATM Mini Statement” neither represents nor replaces your
periodic bank account statement.
(b) Card Replacement Charge. If you request a replacement Card a charge of
$5.00 will be assessed. The charge will be reflected on your statement as
“Banking Card Replacement Charge”.
(c) Other Bank Charges. All other charges are detailed in our Personal Deposit
Account Fees and Disclosures, and will be reflected on your statement.
(d) Possible Fees By Third Parties. When you use an ATM not owned by
KeyBank, you may be charged a fee by the ATM operator or any network used
to complete the transfer (and you may be charged a fee for a balance inquiry).
11.BANK’S LIABILITY FOR FAILURE TO COMPLETE EFT TRANSACTIONS.
If we do not complete an EFT transaction or transfer on time or in the correct amount
according to our agreement with you, we will be liable for your losses or damages.
However, there are some exceptions. We will not be liable, for instance:
8. DISCLOSURE OF ACCOUNT INFORMATION.
We may share information within the KeyCorp family of companies as well as with
unaffiliated third parties external to Key as described in our Privacy Policy.
52
(a) If you do not have enough money in your Account to make the transfer;
(b) If the transfer will go over the available HSA Balance or if your agreement has
been terminated;
(c) If the authorized terminal or system was not working properly and you knew
about the breakdown when you started the transaction;
(d) If there is a dispute about the amount or we have been ordered to pay to or hold
for someone else the money in your Account;
(e) If a withdrawal would consist of money deposited in the form of a check or other
order and the funds are not yet available for withdrawal;
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(f) If you have told us that your Card was lost or stolen or that you believe someone
else has obtained your PIN;
(g) If an employee of a merchant does not properly handle a Card transaction at a
terminal;
(h) If, in the case of a pre-authorized credit to your Account, a third party does not
send your money to us on time or does not send us the correct amount;
(i) If circumstances beyond our control (such as fire or flood) prevent the EFT
transaction, despite reasonable precautions that we have taken;
(j) If the automated teller machine where you are making the transaction does not
have enough cash.
There may be other exceptions stated in our agreement with you.
12.ERROR RESOLUTION NOTICE – IN CASE OF ERROR OR QUESTIONS ABOUT
YOUR ELECTRONIC TRANSFERS.
(d) Legal Action. If we initiate any legal action to collect money owed to us under
this agreement, including any counterclaim, you agree to pay all our costs for
such action, including any reasonable attorneys’ fees. This provision does not
apply to any action in connection with any credit account. In such cases, the
credit agreement will govern these costs.
(e)Arbitration Provision. Refer to your Deposit Account Agreement and Funds
Availability Policy for the Arbitration Provision.
(f) Claims and Defenses Against Merchants. We are not responsible for
goods or services you purchase or lease by using a Card for a POS transaction
or POS/PIN transaction. We are not subject to any claims or defenses you may
have against a merchant in connection with any POS transaction or POS/PIN
transaction or the underlying merchant transaction.
14. RULES AND REGULATIONS.
Your first use of your Card, or your giving us a written authorization to make preauthorized debits or credits to your account will be your agreement to the Bank’s
Deposit Account Agreement and Personal Deposit Account Fees and Disclosures
relating to your account and these “Disclosure and Terms.”
Telephone or write us using the address and telephone number provided in Section
3 of this Disclosure and Terms as soon as you can, if you think your statement
or receipt is wrong or if you need more information about a transfer listed on the
statement, or receipt. We must hear from you no later than 60 days after we sent you
the FIRST statement in which the problem or error appeared.
(a) Tell us your name and account number.
(b) Describe the error or the transfer you are unsure about, and explain as clearly
as you can why you believe it is an error or why you need more information.
(c) Tell us the dollar amount of the suspected error. If you tell us orally, we may
require that you send us your complaint or question in writing within 10 business
days. We will tell you the results of our investigation within 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 45 days to investigate your complaint or
questions. If we decide to do this, we will credit your account within 10 business
days for the amount you think is in error, so that you will have the use of the
money during the time it takes us to complete our investigation. If we ask you
to put your complaint or question in writing and we do not receive it within 10
business days, we may not credit your account.
15. AMENDMENT AND CANCELLATION.
We may amend (change) the Disclosure and Terms by giving you written notice at
any time, except we will give you twenty-one (21) days’ prior written notice if the
change would result in increased fees or charges, increased liability for you, fewer
types of available fund transfers, or stricter limitations on the frequency or dollar
amount of transfers. We are not required to give you prior notice where an immediate
change is necessary to maintain or restore the security of our EFT system. However,
if such a change is made permanent, we will give you appropriate notice. We may
also cancel your privilege to use the Card and any PIN, even without telling you in
advance. If we do this, you will return all cards to us at once. You may terminate this
agreement at any time by notifying us in writing. If you do this, you also must return
all Cards to us at once. Ending this agreement will not affect your obligations under
this agreement for transactions or transfers completed with your Card or any PIN,
even if those transactions or transfers are completed after the ending date.
16. NOTIFICATION TO REGULATORY AUTHORITY.
We will tell you the results within 3 business days after completing our investigation.
If we decide that there was no error, we will send you a written explanation. You may
ask for copies of the documents that we used in our investigation.
This agreement is governed by state and federal laws. If any violation occurs you may
contact:
Consumer Financial Protection Bureau
P.O. Box 4503
Iowa City, Iowa 52244
NOTE: If the notice of error involves an EFT that occurred within 30 days after the
first deposit to the account was made, we may extend the 10 day time period to 20
days. If the notice of error involves an EFT that was not initiated within the United
States, the District of Columbia or Puerto Rico, resulted from a POS transaction, or
occurred within 30 days after the first deposit to the account was made, we may
extend the 45 day time period to 90 days.
17. ASSIGNMENT.
You may not transfer or assign this Agreement without our prior written approval, and
any unauthorized assignment or transfer by you will be null and void. We may assign
or transfer this Agreement at any time without notice.
13. OTHER TERMS AND CONDITIONS.
(a) Use and Care of the Card. If you use the Card at a merchant location, the
merchant acts for you (as your agent) in completing the transaction. Use of the
Card is also subject to the rules of the government agencies which regulate
banks. You will take care of your Card and will not give the Card or any PIN to
any other person or write your PIN on the Card. If it is lost or stolen, you will
notify us immediately.
(b) Prohibited Activity. It is your responsibility to use the card only for valid
and lawful purposes. If you use the Card for any other purpose or transaction,
including without limitation unlawful gambling activities, (herein called a
“Prohibited Activity”), you must promptly reimburse KeyBank and MasterCard
International Incorporated for all amounts or expenses either KeyBank or
MasterCard pays as a result of such use. KeyBank reserves the right to
block Prohibited Activity and/or to not approve any authorization request for
a Prohibited Activity. Card transactions for any Prohibited Activity made by or
for the benefit of you shall be considered authorized by you, and you assume
all responsibility and liability for all losses, costs and expenses you incur as a
result of such use.
(c) Foreign Transaction Fees. If you use your Card in a foreign country,
including a Card Transaction you initiate in the U.S. with an entity located in a
foreign country, a foreign Card transaction fee will be charged. The fee is 3%
of the transaction amount; such transaction include, without limitation, cash
advances, ATM withdrawals, and purchases of goods and services. If you use
your Card to make a Card Transaction outside of the United States in a foreign
currency, MasterCard will convert the Card Transaction amount into U.S. dollar
using a wholesale market rate or a government-mandated rate in effect on the
processing date (which may differ from the rate on the date of your transaction).
The rate used may differ from the rate MasterCard actually receives.
18. GOVERNING LAW.
All matters relating to your use of the Card and this Agreement shall be governed by
the laws of the State of Ohio and the federal laws of the U.S.A., without regard to any
conflicts of law principles.
19. JURISDICTION AND VENUE.
You agree and hereby submit to the exclusive personal jurisdiction and venue of the
State courts and federal courts in Cuyahoga County, Ohio, with respect to all matters
relating to this Agreement. You consent to such jurisdiction and venue.
20. SEVERABILITY; HEADINGS.
If any term of this Agreement is declared invalid or unenforceable by any court,
the remaining terms of this Agreement will not be affected, and this Agreement
will be interpreted as if the invalid terms had not been in place for this Agreement.
Paragraph headings do not limit or define either party’s rights or obligations.
21. ARBITRATION; WAIVER OF JURY TRIAL.
Any claim arising out of or relating to this Agreement or the Card is subject to the
terms and conditions concerning Arbitration and Waiver of Jury Trial described in our
Deposit Account Agreement and Funds Availability Policy previously delivered to you.
We may amend our Arbitration Provision by posting a revised arbitration provision
on our website at www.key.com or at such other website designated by us.
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KEYBANK OVERDRAFT SERVICES
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a
transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
1.We have a standard overdraft service that may come with your account.
2.We also offer overdraft protection plans, such as a link to a savings account or to
a personal line of credit, which may be less expensive than our standard overdraft
services. To learn more, ask us about these plans.
This notice explains our standard overdraft services.
What are the standard overdraft services that may come with my account?
We do authorize and pay overdrafts for the following types of transactions:
•Checks and other transactions made using your checking account number
•Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you
ask us to (see below):
•ATM transactions
•Everyday debit card transactions (purchases made with your debit card on a
day-to-day basis (excludes all checks and automatic bill payments))
If we do not authorize and pay an overdraft, your transaction will typically be declined.
We pay overdrafts at our discretion, which means we do not guarantee that we will always
authorize and pay any type of transaction.
What fees will I be charged if KeyBank pays my overdraft?
Under our standard overdraft service:
•We will charge you a fee of up to $39.00 each time we pay an overdraft.
•Also, if your account is overdrawn for 5 consecutive business days, an
additional $28.50 fee will be assessed.
•There are limits on the total fees we can charge you for overdrawing your
account. There is a daily cap of 5 Overdraft Item (OD) and Return Item (NSF)
charges per account. There is a monthly cap of 20 OD charges per account
per service charge cycle.
What if I want KeyBank to authorize and pay overdrafts on my ATM and
everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card
transactions, call 1-888-725-7606, sign on to Online Banking and select the Overdraft
Services Options link on the Self Service tab, visit any KeyBank branch or contact your
Relationship Manager.
Please note that your selection will not be effective until the next business day after
KeyBank receives it.
Revised August 2012
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SAFE DEPOSIT BOX AGREEMENT
Effective October 22, 2010
KeyBank National Association
your disability or declared incompetence. If we decided to honor a Power of Attorney,
we can later decide not to honor it any longer.
6. Rent/Fees. You agree to pay the rent for the Box in advance for a period of one (1)
year and to pay a set-up fee. Subject to the Bank’s right to require you to surrender
your Box, your right to keep the Box will be extended automatically for additional one
(1) year periods. Except for auto-debit customers, you will receive notice of payment
due approximately one (1) month prior to the anniversary date of the Box rental. The
rent amount is set by the Bank and may be adjusted at any time, without notice to
you, provided that the rent will not be increased during the one (1) year term. If the
Bank adjusts the rent amount, the new rent amount will be reflected in your annual
bill or on your account statement. You may receive a discount on your annual rent by
authorizing the Bank to deduct the rent from your checking account with the Bank.
However, if you choose to receive an annual bill you will not receive the discount. In
addition, for rent that is ten (10) days past due you will be assessed a non-refundable
late charge.
As used in this Agreement, “we”, “us”, “our” or “Bank” mean KeyBank National
Association, Cleveland, Ohio. The terms “you”, “your” and similar terms mean the
Lessee(s) listed below and any person you authorize to act on your behalf. Both you and
the Bank agree to the following terms and conditions concerning the safe deposit box(es)
(“Box(es)”) which you have leased from the Bank.
1.Relationship. You acknowledge that you are eighteen (18) years of age or older,
and you agree that the relationship between the Bank and you is that of lessor and
lessee respectively. The relationship is not to be construed as landlord and tenant,
bailee and bailor or otherwise imply that the Bank is in control or possession of the
rented Boxes and the contents therein. You assume all risks arising from the placing
of all contents (“Contents”) in a Box. In no event shall any officer or employee of the
Bank be designated and/or considered as a deputy or agent of lessee.
2.Liability. You acknowledge that the contents of this Box are not insured by
the Federal Deposit Insurance Corporation (FDIC). In addition, the Bank is
not an insurer of the Contents and if you want insurance for the Contents
of the Box, it shall be your sole responsibility. You acknowledge that the Box
is not water, fire or burglar proof. You agree that the use of any Box is at your sole
risk. Neither the Bank nor its agents shall be responsible or held liable for any loss,
damage, theft or other casualty of or to any Box, its keys or its contents thereof,
unless such damage or loss is caused by the Bank’s gross negligence or willful
misconduct. The fact that any of the Contents may be missing shall not be taken
as evidence of any negligence, unauthorized access, and/or of gross negligence or
willful misconduct on the part of the Bank.
7. Failure to Pay Rent. In the event you fail to pay the rent due for a period of thirty
(30) days, the Bank has the right to deny any access to the Box until such time that
all past due rent, late charges and other fees are paid in full. In certain instances,
upon written notice to you, the Bank has the right to drill the Box open for failure to
pay rent. The Bank will charge you for the cost to drill the Box, all past due rents and
charges.
8. Right of Set-Off. By entering into this Agreement, you are authorizing the Bank to
debit any deposit account you have with the Bank for the amount of any past due
rent, late charge or other fees. Our rights under this section are in addition to any
right of set-off we may have under applicable law. You agree that our right of set-off
is not conditioned on, or limited by, the complete mutuality of the parties obligated on
the debt and owners on your deposit account, the maturity of the debt, or the giving
notice to you.
3.Joint Lessees. A Box leased in the name of two or more lessees constitutes a
joint lease, giving each lessee full rights to the Box, including but not limited to,
adding or removing contents of the Box and closing the Box. You acknowledge that
the Bank does not offer Boxes on which two signatures are required for access to the
Box, removal of Contents of the Box and/or closure of the Box. Notwithstanding any
provisions to the contrary on any signature card or other agreement you have with
us, you agree that if the Box purports to require two or more signers for such access,
such provision is solely for your internal control purposes and not binding on us.
9. Assignment/sublet. You cannot assign or sublet the Box, or any part thereof.
10. Keys to the Box. You acknowledge that you received two (2) keys to the Box.
You agree not to give your keys to any other person. You agree not to duplicate any
keys provided to you under this Agreement. You must return both keys to the Bank
when you surrender your Box. You must report the loss of one or both keys to the
Bank immediately. If you lose one key, you must contact the branch to inquire about
proper procedure for possible key replacement. If you lose both keys, the Box must
be drilled open to replace the lock. You must pay all costs of drilling open the Box,
replacing the lock and/or of replacing the keys.
4.Authorization Form/Signature Cards and Resolutions. We are entitled to
rely upon and treat as genuine the names, titles and signatures shown on any Safe
Deposit Box Signature Card, Record of Access Cards or Agreement. If we require you
to deliver certified copies of resolutions or other written documentation acceptable
to us to open a Box we are entitled to rely upon such resolutions or other written
documentation, without investigation by us. If you are a business client, you are
required to complete the appropriate business resolution form granting certain
individuals access to the Box on behalf of the business. For individuals, only the
person(s) on the Bank’s records as lessee(s) and an Attorney-in-Fact or Deputy duly
authorized by such individual shall have access to the Box.
11. Contents. You acknowledge that we have no knowledge of the contents of the
Box(es).
You agree not to store in Box any flammable, explosive, toxic or narcotic substances,
or weapons, or anything which may become a nuisance to the Bank or to any other
Box owner and other items prohibited for storage by law.
5.Deputy/Attorney-in Fact. No one under the age of eighteen (18) may be permitted
to serve as a Deputy or Attorney-in-Fact. Deputies, Attorneys-in-Fact (and any legal
representative) are appointed by you subject to this Agreement. You may revoke
such appointment with written notification to the Bank. The Bank may continue to
grant authorization to such Attorney-in-Fact, Deputy, or legal representative, if it has
received notification, and until it has reasonable time to act upon notification of the
revocation. The Bank shall allow such Deputy(ies) and Attorney-in-Fact to exercise
all powers you have under this Agreement, including accessing, closing, removing
of any, or all, of the Box’s Contents. You expressly authorize any Deputy, Attorneyin-Fact or other duly appointed legal representative access to the Box in the case of
your bankruptcy, insolvency, incompetency or other legal incapacity. The Bank shall
have no liability to you or to anyone else as a result of any action or conduct on the
part of any Deputy(ies), Attorney-in-Fact or legal representative prior to the Bank’s
receipt of written notice of the termination or revocation of any such Deputy(ies)’,
Attorneys’-in Fact or other legal representatives’ authority.
12. Access to the Box. You may have access to your Box during usual business hours
on the Bank’s business days and under conditions and procedures as prescribed
by the Bank. The Bank has the right to close the vault containing the Boxes at any
time, without notice to you. We reserve the right to change our access procedures,
which may include signatures, fingerprinting, password, PIN, biometric devices,
or any other methods we choose. The Bank may deny access to the Box(es) as
permitted by applicable law, including but not limited to, any of the following cases:
(a) at the death of the Lessee; (b) failure to pay rent; and (c) as described in Section
13 hereunder.
13. Adverse Claims; Interpleader; Legal Process. We need not honor any claim
against or involving a Box unless we are required to do so by order of a court or
governmental agency that has jurisdiction over us. This rule applies to any person
asserting any rights or interest regarding a Box, including you and other persons
who are authorized to access the Box. If we receive notice of any claim or dispute
or of any legal proceeding we reasonably believe involves you or any of your Boxes,
we may refuse and/ or restrict access to a Box and/or place a lock on the Box
throughout the pendency of the claim, dispute, or legal proceeding. Access to a
Box may be restricted or refused even though the restriction may have been due
to inadvertence, error because of similarity of the names of owners or deputies, or
other mistake. We also may act upon any notice of garnishment, levy, restraining
order, injunction, subpoena or other legal process we reasonably believe to be valid,
without independent verification by us. You agree that we are not liable for any
damages or losses to you caused by the denial of access to the Box or action taken in
response to legal process, as long as we acted in good faith. You agree to indemnify
us against all losses, costs, attorneys’ fees, and any other liabilities that we incur
by reason of responding to or initiating any legal action, including any interpleader
action we commence, involving you or your Box. As part of that indemnity, in the
event we incur liability to a creditor of yours as a result of our response or failure to
Deputy. You may appoint a maximum of two Deputies per Box by filling out and
signing a form acceptable to the Bank. All owners of the Box will be bound by any
actions taken by the Deputy in connection with the Box. The appointment of a Deputy
ceases upon (1) the Bank’s receipt of a written notice of the death of any Lessee and
(2) after having reasonable time to act upon such notification.
Power of Attorney/Attorney-in Fact. A Power of Attorney gives a person you
designate as your “Attorney-in-Fact” the power to handle your affairs on your behalf
while you are alive. All owners of the Box will be bound by any actions taken by the
Attorney-in-Fact in connection with the Box. We do not honor Powers of Attorney for
businesses. For individuals, we reserve the right not to honor Powers of Attorney and
will not honor a Power of Attorney unless it is in a form acceptable to us and/or in
accordance with state law. We will not honor Powers of Attorney that do not survive
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respond to a legal action, you agree to pay us on demand the amount of our liability
to your creditor and to reimburse us for any expense, attorneys’ fees, or other costs
we may incur in collecting that amount from you.
We may, in our sole discretion and without any liability to you, initiate an action in
interpleader to determine the rights of persons making adverse claims to your Box.
We may exercise this right regardless of whether the persons making the adverse
claims have complied with all statutory requirements pertaining to adverse claims,
such as posting a bond or giving other surety. Upon initiation of an interpleader
action, we will be relieved and discharged of all further duties and obligations. You
agree that any costs associated with the action in interpleader may be charged
against any Accounts you maintain with us.
14. Death/Removal of Joint Lessee. You agree to notify us in writing of the death of
any other owner, Attorney-in-Fact, Deputy, or any other person having a legal right
to access the Box. Removal of a joint Lessee, other than death, requires signatures
of both Lessees. Each surviving or remaining Lessee shall retain access and all other
rights under this Agreement notwithstanding the death or removal of a joint Lessee.
15. Surrendering the Box. You may, at any time, surrender your Box if (a) all the rent
has been paid; (b) all keys are returned to the Bank; and (c) all Contents from the
Box are removed. You shall not be entitled to any refund of rent paid in advance.
The Bank has the right to terminate your use of the Box, at any time, and to require
that you empty the Box and surrender it, with the keys. If the Bank requires that you
surrender your Box, it will give you notice in writing.
16. Change of Business Location. If the Bank should decide to change its business
location, it has the right to move your Box and its Contents to a new location. The
Bank will use safeguards, which, in the Bank’s reasonable opinion are proper, to
protect your Box. To the extent required by law, the Bank will give you written notice
of a change of location.
17. Right to transfer Box. The Bank may transfer its ownership of the Box to another
bank or safe deposit company. The Bank shall give you written notice of such action.
18. Change to Agreement. The Bank has the right to amend this Agreement at any
time without notice, including, but not limited to any adjustment to the Rent and fees.
You agree to abide by this Agreement, as amended.
19. Notices. You are required to provide the Bank with updated information. If you
change your address, you should notify the Bank immediately. Except as expressly
set forth in this Agreement, all notices required to be given under this Agreement will
be as required by law.
20. Governing Law. This Agreement is governed by the laws of the State where your
Box is located and applicable federal law, but with respect to all fees and charges
related to your Box, federal law alone shall control and shall be binding upon each
Lessee, and on each Lessee’s heirs, distributes, representatives, successors and
assigns.
21. Severability. If any part of this Agreement is held unenforceable for any reason,
the unenforceable portion of this Agreement will not affect the enforceability of the
remainder of the Agreement, which will continue in full force and effect.
22. No Waiver. No waiver by the Bank of any breach or default under this Agreement will
be deemed a waiver of any of the remainder of the Agreement, which will continue in
full force and effect.
23. Escheat. You understand and agree that, should your box remain in a delinquent
payment status or otherwise deemed abandoned as per state law, for a length of
time designated by law, we may have to turn over the contents of the box to the state.
You further agree that we continue to have a lien on all contents of the box for any
rent or other amount that you may owe us.
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PERSONAL SAVINGS OVERDRAFT PROTECTION AGREEMENT
Effective August 19, 2011
KeyBank National Association
We may decide not to enforce this Agreement or delay enforcing it in some
circumstances or at some times. If we do so, you agree that we can still enforce this
Agreement in the same circumstances at another time, in other circumstances or
at other times. If any provision of this Agreement is declared by a court to be invalid
or unenforceable, the remaining provisions of this Agreement shall be enforced and
construed as if the invalid provisions were not contained in this Agreement.
Member FDIC
This Savings Overdraft Protection Agreement (“Agreement”) governs the terms of
the Savings Overdraft protection transfers from your KeyBank savings account to your
KeyBank checking account.
You agree to be bound by all the above terms and conditions as set forth in this
Agreement and acknowledge receipt of a copy of this Agreement.
By linking your KeyBank Savings Account (“Savings Account”) to your KeyBank checking
account, you accept and agree to be bound by all the terms and conditions as set forth
in this Agreement. Savings Overdraft Protection transfers are subject to the terms of your
Agreement.
Checking account means the checking account (“Checking Account”) on which you
want us to provide overdraft protection under this Agreement. Automatic Transfer means
the transfer of funds from your Savings Account to your Checking Account under this
Agreement.
In this Agreement, the words “you” and “your” refer to the owner(s) of the Checking
Account and the words “we”, “us”, “our” and “Bank” refer to KeyBank National
Association. In order to link your Savings Account to your Checking Account, all the
owners must be the same on both the Checking Account and the Savings Account. If at
any time for any reason the owners of the Checking Account and the Savings Account
are different, the Savings Overdraft Protection will terminate. You understand that other
agreements govern your Savings Account and your Checking Account including, but not
limited to, the Deposit Account Agreement and Funds Availability Policy.
1. Automatic Transfers. Subject to the terms of this Agreement, we will make an
Automatic Transfer when the total amount of withdrawals from your Checking
Account and service charges we post to your Checking Account exceed the amount
of funds in your Checking Account that is available for withdrawal. You request that
these Automatic Transfers be made and agree that the amount of the Automatic
Transfers will be debited from the amount of funds in your Savings Account that
is available to transfer. The Automatic Transfer will equal the lesser of the amount
needed to cover the unpaid amount of withdrawals and service charges, plus the
Transfer Fee, or the amount of funds in your Savings Account that is available to
transfer. Please note that we may pay items into overdraft, at our discretion, and
charge an overdraft fee if you do not have enough funds available for withdrawal in
your Checking Account or Savings Account.
You agree to maintain your Checking Account and Savings Account according to the
terms and conditions of these deposit accounts, in accordance with all applicable
laws and regulations, without fraud, and in such manner so as not to cause us
to close your Checking or Savings Account. If you fail to properly maintain your
Accounts, in addition to other rights and remedies we have, we may terminate your
Savings Overdraft Protection as described in Section 4 of this Agreement.
2. Transfer Fee. We will assess a $10.00 Transfer Fee each day an Automatic Transfer
is made from your Savings Account to pay overdrafts to your Checking Account. The
Transfer Fee will be assessed to your Checking Account.
3. Transfer Limitations. Your Savings Account is subject to withdrawal and transfer
limitations. You may make only six (6) transfers and/or payments to another account
of yours with us or to a third party each monthly period. Please note that although
the transfer of funds pursuant to this Agreement is automatic, Automatic Transfers
from your Savings Account to your Checking Account for overdraft purposes count
towards this limit.
4. Cancellation. You may cancel this Savings Overdraft Protection at any time by
giving us written notice at the address printed on your Checking Account monthly
statement and we have had reasonable time to cancel the Savings Overdraft
Protection. In addition to our other rights under this Agreement and other rights and
remedies we have, and notwithstanding any provision of this Agreement, we may
cancel your Savings Overdraft Protection and stop making Automatic Transfers at
any time.
5. Applicable Law. This Agreement shall be governed by the laws of the State of Ohio
(without regard for conflict of law rules) and applicable federal law, but with respect
to all fees and charges related to the Savings Overdraft Protection, federal law alone
shall apply.
6. Amendments; Non-Waiver; Severability. We reserve the right to change or add
to the terms and conditions of this Agreement or change the terms of the Savings
Overdraft Protection at any time. We will give you such notice of the change as we
determine is appropriate and as required by law.
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ONLINE BANKING SERVICE AGREEMENT AND DISCLOSURE
accounts, savings accounts, certificates of deposit, retirement (bank deposit)
accounts, credit accounts, investment accounts, trust accounts, and other financial
account types that may be available at a later date – you will be notified when this
occurs. Information about your closed Activated Accounts may be accessed by this
Service for seven (7) years after the date on which the applicable Activated Account
was closed.
This Service Agreement (“Agreement”) is between KeyBank National Association
(herein called “we” or “us”or “our”) in our capacity as the operator of our Internet
website (“Website”) and our Internet customers who subscribe to this Service. Our
customers who access and use the Services are referred to in this Agreement as “you” or
“your” regardless of number or gender. When you enrolled in this Service on our Website,
such action constitutes your written signature to and approval of, and intent to be bound
by, this Agreement and all future amendments hereto.
4.ENROLLMENT
1. DESCRIPTION OF SERVICES
The financial services (the “Services”) covered by this Agreement include one or
more of the following:
(a)Only for deposit customers of KeyBank:
•Online Banking;
•Online Bill Pay;
•eBill Service;
•E xpedited Online Bill Pay;
•Online Statement Delivery;
•Transfer funds between eligible Activated Accounts that are deposit accounts
at KeyBank or other Financial Institutions;
•Payments to any credit or loan account made or held by KeyBank;
•Download of financial data to a third party;
•Electronic mail (“Email”) to or from us;
•
Service requests for stop payments, copies of check items older than
eighteen (18) months, and photo copies for deposit accounts; and
•
Transfer funds between eligible commercial loans/lines of credit and
checking accounts
(b) Only for customers of KeyBank enrolled in the KeyBank Rewards Program:
•View total Rewards Points balance for all enrolled Eligible Products, as well as
for each individual Eligible Product; and
•Manage viewing and acceptance of available Bonus Offers.
(c)Only customers of Key Investment Services, LLC (“KIS”) may access the
Services below, but may not have use of the services above, unless you have a
customer relationship with KeyBank:
•Online Investing Services, including brokerage account information; and
•“Email” to or from us.
(d)
Only for customers of KeyBank enrolled in the HelloWallet Program
(“HelloWallet”):
•Aggregate personal financial information across multiple accounts to assist in
reviewing, managing, and tracking personal finances;
•View Wellness Score; and
•View applicable financial insights and alerts.
(e)Credit Card customers may have access to the services outlined in subsections
(a) and (b) above, depending on the nature of their relationship with KeyBank
and/or KBCM. Only Credit Card customers of KeyBank may access the services
below:
•Support of Authorized Users for business Credit Card accounts.
(e)All new online features and functions to our Website added by us will be subject
to this Agreement, as amended from time to time.
To activate the Service, you must first follow our enrollment procedures, using your
debit card or following our other procedures for customer verification, authentication
and security. You must have a valid Social Security number or federal tax
identification number listed on each Activated Account. After enrollment, you may
sign on with your UserID and Password to access and use each of the permitted
Services.
5. USER ID; PASSWORD
You will need a user identification name selected by you (“User ID”) and an authorized
personal identification number or code (the “Password”) to use the Services. You
agree to use your best efforts to keep your User ID and Password confidential at
all times and to prevent any disclosure of your User ID and Password to any other
person or entity. To help safeguard your security, you should change your Password
frequently. If you forget your Password, you must contact us online. You assume
all responsibilities for and all risks of loss from your providing personal information,
including your user ID and PIN, to any third party website that spoofs or otherwise
imitates the Key website, or by linking to third party websites from unauthorized
Email, and you hereby release us from all liabilities and obligations in connection with
such actions by you.
6. ONLINE BILL PAY SERVICE AT KEYBANK
When you enroll in the Online Banking Service, you will be automatically enrolled in
Online Bill Pay, our bill payment service. Online Bill Pay allows you to make payments
in United States Dollars from your selected checking account (a “Payment
Account”). You can only make payments to Payees with U.S.A. addresses. A
“Payee” is a person or business you are paying. When using Online Bill Pay, you
must send your payment instructions to us at least four (4) business days before
the Due Date for payments sent by check and two (2) business days for payments
sent electronically before the Due Date. The “Due Date” is the date specified
by the Payee›s bill or invoice for payment. It is your responsibility to schedule
your payments in such a manner that payments are delivered on time. Recurring
payments must be the same amount each time. Any payment request you designate
for a weekend or holiday will be made on the next business day. You may change
or cancel any requested payment you have scheduled in advance in accordance
with this Agreement if you send your change or cancellation instructions via your
Internet access equipment to us before the Cutoff Time on the Payment Transmittal
Date for the applicable payment. Your changes or cancellations will not be accepted
or processed by us after the applicable Cutoff Time. Cancellation of a requested
payment is not a stop payment order, and there is no service charge for your change
or cancellation. When you send us a payment instruction, you authorize us to charge
your Payment Account accordingly. In our discretion, we may decide to process the
payment as a service to you even if there are insufficient funds in your Payment
Account. Normal overdraft fees may apply. Notwithstanding any provision of this
Agreement, KeyBank reserves the right to refuse to honor and pay any payment
request. We are not responsible for any disputes, claims, or defenses you may
have with any Payee. KeyBank reserves the right through Online Bill Pay to select
the method by which to remit funds on your behalf to your Payees. You may make
more than one payment a day to a single Payee, but no single payment may exceed
$25,000. You agree to notify us promptly if you receive notice from a Payee that a
payment request you made to that Payee through our Service remains unpaid.
2. AGREEMENTS AND DISCLOSURES
This Agreement supplements and modifies your deposit account agreements
with us (the “Deposit Agreements”) and incorporates by reference our Rules
and Regulations for KeyBank World Wide Website (the “User Agreement”), the
KeyBank Rewardsﾮ Program Terms and Conditions (the Rewards Agreement),
and the Cardmember Agreement and accompanying Rates and Fees Table and the
Additional Terms of Your Cardmember Agreement, as applicable for Credit Card
customers (the Cardmember Agreement). If there is any conflict between any
term of any Deposit Agreement or our User Agreement posted on our Website,
the Rewards Agreement, or the Cardmember Agreement and this Agreement, this
Agreement shall control. Certain defined terms used herein are defined in other
agreements referenced herein. If you are a deposit customer of KeyBank, you may
have additional rights and duties under our “EFT Disclosure Statement”, which
is collectively our Electronic Funds Transfer Disclosure Statement or our Disclosure
Statement and Terms and Conditions for Electronic Funds Transfer Transaction that
was delivered to you when you opened your deposit account with us.
Subject to the terms of this Agreement, we promise to deliver Bill Pay payments to
your Payees in a timely manner according to your properly entered instructions. In
the event a Payee updates your account information in its records and you do not
update your Payee account information in Online Banking, KeyBank may process
your payment. You acknowledge and agree that the account information as updated
by the Payee may appear in the record of your payment in Online Banking and may
differ from the Payee information entered by you. It is your sole responsibility to add
your Payees and to ensure Payee information is accurate and up to date. KeyBank
is not responsible for any Payee information entered incorrectly. As long as you give
us timely notice within sixty (60) days after the date of the statement on which the
error first appears in your Payment Account in accordance with the error resolution
procedures in the Agreement or described in the EFT Disclosure Statement
applicable to consumer electronic funds transfer transactions, we will reimburse you
for the service charges that you have incurred from a Payee due to our failure to
comply with any Bill Pay payment instruction that you entered and we confirmed in
accordance with this Agreement. This commitment does not cover delays or losses
3.ACTIVATED ACCOUNTS
If your relationship on any account with us is acceptable to us, your deposit accounts,
credit accounts and investment accounts will be available for your access by this
Service (“Activated Accounts”). Activated Accounts may include: checking
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of payments by the U.S. Postal Service or any other common carrier, tax payments,
court ordered payments, or any payment request not honored by KeyBank.
when they are received, provided they are scheduled during the hours when the
Service is available. Expedited Payments may only be scheduled from 4 a.m. to
7 p.m. ET, Monday through Friday. Expedited paper check payments may be
delivered next day but time of delivery may depend on the time of day that the
transaction is scheduled by you. Next day delivery is not guaranteed. The fee
charged for the Expedited Payments service is $9.95.
A.EBILLS
This feature enables you to receive bills from your Payees electronically through
the Online Banking Service. By activating the eBill feature, you can receive
presentment of electronic bills (eBills) from your Payees who offer electronic
billing and are set up by you for eBills in Online Banking. If you elect to activate
the eBill feature, you agree to the following:
You agree that you will pay all fees and charges in connection with your use of
the Expedited Payments feature through Online Banking. You agree that delivery
of Expedited Payments is subject to circumstances outside KeyBank’s control
which may delay or make delivery impossible, and that KeyBank will not be liable
for such circumstances.
Activation – Upon activation of the eBill feature you authorize notification to the
Payee of your request to receive electronic billing information. The presentment
of your first eBill may vary from Payee to Payee and may take up to sixty (60)
days, depending on the billing cycle of each Payee. Additionally, the ability to
receive a paper copy of your bills is at the sole discretion of the Payee. While
your eBill feature is being activated it is your responsibility to keep your accounts
current. Each electronic Payee reserves the right to accept or deny your request
to receive electronic bills.
7. KEYBANK REWARDSﾮ PROGRAM
If you are an existing KeyBank Rewards Program (Rewards Program) member, when
you enroll in the Online Banking Service, you will automatically be able to view your
total available Rewards Points balance across all of your Eligible Products, as well as
for each individual Eligible Product enrolled in the Rewards Program. You will also
automatically receive Shopping Deals, a type of Bonus Offer. You will be able to view,
and accept, applicable Bonus Offers displayed within your Transaction History or
by clicking on the Shopping Deals button, subject to the terms and conditions of
each such Bonus Offer. Any Shopping Deals displayed in your Transaction History
and available in Online Banking are related to a specific Account and associated
debit or credit card. Shopping Deals require the use of the card(s) associated with
the Account that presents each such offer. If you have multiple Rewards Program
credit or debit cards, please review the terms and conditions for each Bonus Offer
in Online Banking or on the Rewards Program Website for further detail regarding
Bonus Offers related to the associated Account(s) and card(s).
Information provided to the Payee – The eBill Service is unable to update
or change your personal information with the electronic Payee such as, but not
limited to, name, address, phone numbers and Email addresses. Any changes
will need to be made by you, by contacting the Payee directly. It is your sole
responsibility to provide accurate contact information to each of your Payees.
Additionally it is your responsibility to maintain all user IDs and passwords for all
electronic Payee sites. You may be required to provide your user ID, password,
security questions, or other security procedures for access to a Payee website in
order for you to receive eBills for a particular Payee, and if required, you authorize
this information to be used in the Service as described in this paragraph. You
also agree not to use someone else’s information to gain unauthorized access
to another person’s bill. Also as part of the enrollment process, you may be
required to accept the terms and conditions applicable to electronic billing for a
particular Payee, either on your own behalf or as the authorized representative
of your business, and you agree that your acceptance of the Payee’s terms and
conditions, online agreement or other disclosure is authorized and binding on
you as set forth in paragraph 15.
To no longer view Shopping Deals within your Transaction History in Online Banking,
you may do so by changing your Shopping Deals settings within Online Banking
to Turn Shopping Deals Off. You may only cancel the display of Bonus Offers and
Shopping Deals in Online Banking.
8. RESTRICTIONS ON SERVICE
The Service is not intended for distribution to, or use by, any person or entity in
any jurisdiction or country where such distribution or use would be contrary to
applicable law or regulation. KeyBank may restrict the availability of the Website and
the Service in any jurisdiction or country where such use would be contrary to U.S.
law or regulation, or which is identified as presenting a high risk of fraud. Please call
1-800-KEY2YOU, or TTY/TDD at 800-539-8336, for the current list of countries
where transactions are restricted.
Non-Delivery of electronic bills – You agree to hold KeyBank harmless
should the Payee fail to deliver your bills. It is your sole responsibility to contact
your Payees directly if you do not receive any bill. You are responsible for
ensuring timely payment of all bills. Copies of previously delivered bills must be
requested from the Payee directly.
Accuracy and dispute of electronic bill – KeyBank is not responsible for
the accuracy of your electronic bills. The eBill feature will only present the
information received from the Payee. Any discrepancies or disputes regarding
the accuracy of your electronic bill summary or detail must be addressed with
the Payee directly.
9. ONLINE INVESTING SERVICE
When you enroll you may access your Investments accounts, subject to your “Key
Investment Services Service Agreement and Disclosure” which is incorporated
herein and made a part of this Agreement and shall apply to your use of the Services
to the extent you are a KIS client.
Notification – KeyBank will not provide any notice of your electronic bills other
than such notice as appears within Online Bill Pay. Notification from Payees to
KeyBank may vary from Payee to Payee. It is your responsibility to periodically
logon to Online Banking to check on the delivery of new electronic bills. You are
responsible for ensuring timely payment of all bills.
10. ONLINE STATEMENT DELIVERY SERVICE AT KEYBANK
When you enroll in the Services, copies of your account statements for Activated
Accounts will automatically be provided online in the Service. However, if you have
elected to receive paper copies of your account statements in the mail, you will
continue to receive them in paper form until you elect to enroll in online delivery of
your account statements for Activated Accounts. You will only stop receiving paper
copies of your account statements when you successfully enroll in online delivery
of your account statements through the Service. When you enroll in online delivery
of deposit, loan, line of credit, credit card and investment account statements for
your Activated Accounts, you will receive these official account statements online,
together with an Email alert notice advising you when the statement is available
for viewing, subject to our “Online Statement and Document Delivery Service
Agreement”.
Cancellation of electronic bill notification – The electronic Payee reserves
the right to cancel the presentment of electronic bills at any time. You may cancel
eBill presentment at any time. The time frame for cancellation of your electronic
bill presentment may vary from Payee to Payee. It may take up to sixty (60)
days, depending on the billing cycle of each Payee. By indicating within the eBill
feature that you wish to cancel eBills, you authorize notification to your electronic
Payee(s) as to the change in status of your account. It is your sole responsibility
to make arrangements for an alternative form of bill delivery. KeyBank will not be
responsible for presenting any electronic bills that are already in process at the
time of cancellation.
11. EMAIL SERVICE
This Agreement and your use of eBills do not alter your liability or obligations
that currently exist between you and your Payees. You are solely responsible for
paying your bills on time regardless of whether you use eBills.
Unencrypted Email is not secure. You should not rely on Email if you need to
communicate with us immediately; for example, if you need to stop payment on a
check, to report a lost or stolen card, or an unauthorized transaction. You should
not use Email, or reply to any Email, to send us your personal or any confidential
information. We will not take action based on your Email request until we actually
receive your message and have a reasonable opportunity to act. You agree to
update your Email address on our records to maintain at all times a valid and active
Email address at another Internet service provider. If you use any online banking
function that requires us to send you Email, we may charge you a fee if our electronic
communication to you is returned due to an invalid Email address and we resend this
communication in writing to your postal mail address.
B. EXPEDITED PAYMENTS
This feature will allow you to make expedited payments using the funds in your
Payment Account to Payees located in the United States for a fee as set forth
below (Expedited Payments). Expedited Payments may be delivered to the
Payee electronically or via paper check. Expedited Payments by check will not
be delivered to post office box addresses or to locations in Alaska, Hawaii, or
any foreign or U.S. territory outside of the contiguous forty-eight states and the
District of Columbia. It is your sole responsibility to enter and verify any address
for Expedited Payment by check to ensure it is correct and is specified as a valid
overnight package address by your Payee. Expedited Payments are processed
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Email Alert – KeyBank, through the website may at our option send one or more Email
alerts on transactions or other activities pertaining to your Accounts visible through
WC-D
the Online Banking service (“Bank-Initiated Alerts”). In addition, upon sign on to
the application, you may select to receive specific Email alerts for specific accounts
for delivery to your Email address on record with KeyBank (“Customer-Initiated
Alerts”). Both Bank-Initiated Alerts and Customer-Initiated Alerts are Emails covered
by this section. This Email alert service shall not modify any right or obligation that
you or we may have under applicable law or any agreement with KeyBank. By using
the Online Banking Service and selecting specific Email alerts, you acknowledge and
agree we shall have no liability if any other person accesses, views, uses or discloses
your Email notification content as all Emails are sent via unencrypted means through
an unsecured internet. You understand and agree that delivery of Email notification
is not guaranteed and may be subject to delay or non-receipt due to reasons that
are not under KeyBank’s control. You also agree that KeyBank is not responsible
for any action not taken by you due to an alert or transaction triggering an alert.
Any fees associated to receipt of these alert notifications that are applied by your
internet service provider are your sole responsibility. Alert notifications will never
include full account information, UserIDs, or passwords. Some information regarding
balances and transactions may be included. You hereby consent to KeyBank’s
delivery of these alerts to the Email address on its records, and you acknowledge
that anyone with access to your personal Email account may be able to access this
information. This means that a person who is able to access your Email will be able
to see information relating to your bank account contained in the alert. This service
is provided for informational use only and should not replace your normal banking
habits or processes. KeyBank may stop the alert notifications at any time, or may
begin to charge a fee as determined.
This Section 14 constitutes your authorization for us to follow your instructions
(the Authorization). You hereby release us and agree to defend and indemnify us
from any and all claims, costs and damages which may arise out of any actions taken
by us in relying upon and/or complying (or attempting to comply) with your electronic
payment or disbursement instructions under this Authorization in making any
transfer of funds pursuant to this Authorization, and taking any action or following
any instructions under this paragraph.
15. HELLOWALLET
HelloWallet is a financial information service that allows you to aggregate your
personal financial information and assists you in reviewing, managing, and tracking
your personal finances. If you are eligible for the HelloWallet program and elect to
enroll, you may review your financial wellness score (the “Wellness Score”) which
is provided solely by HelloWallet, subject to your acceptance of the HelloWallet Terms
of Use (the “HelloWallet Terms”), which are incorporated herein by reference. If
there is any conflict between any term of this Agreement and the HelloWallet Terms,
solely with respect to your enrollment in or use of HelloWallet, the HelloWallet Terms
shall control. The HelloWallet program is available at no cost as long as enrollment is
initiated through KeyBank’s Online Banking service.
Your Wellness Score is based on the account and other financial information you
provide to HelloWallet. Your Wellness Score is only a prediction and the accuracy of
the information displayed is based entirely on the extent to which you have provided
your financial information to HelloWallet. You understand and agree that you are
solely responsible for the accuracy of the data you supply to HelloWallet and any
resulting Wellness Score. You understand and agree that your Wellness Score is
displayed in KeyBank’s Online Banking Service as a convenience to you, and does
not in any way constitute an evaluation by KeyBank of your finances. You understand
and agree that your Wellness Score as displayed in the KeyBank Online Banking
Service may differ from the Wellness Score displayed on HelloWallet’s website,
and the Wellness Score on the HelloWallet website should be considered the most
accurate. You understand and agree that your Wellness Score, and any financial
insights or other information shared on the KeyBank Online Banking Service are
presented for informational purposes only and should not be construed as individual
tax or financial advice. KeyBank does not provide legal advice, and nothing herein
shall be construed as such.
12. YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS
Transactions made in your Activated Accounts by your use of the Services will
appear on our official account statements you will receive for your Activated
Accounts. Statement information, transaction information, and available balance that
you view through this Service are in real time for checking, savings and certificate
of deposit accounts. All other account balances are effective as otherwise indicated.
Your actual available balance may be lower than your current balance. The online
statement displayed is for information purposes only and is not equivalent to the
official statement information on our records. Our official statement records will
control if there is any conflict with information displayed on your Internet screen.
13. UNSECURED CREDIT CARD ACCOUNT STATEMENT
You further understand and agree that the HelloWallet program will provide access to
third party sites which will allow such sites to retrieve your account information from
different companies to display them together. By enrolling in the HelloWallet program,
you authorize KeyBank to communicate and receive certain information from its third
party service providers, which allows KeyBank and its third party service providers to
display such data as your Wellness Score and other insights regarding your finances
within the KeyBank Online Banking Service and the HelloWallet website.
If you have a KeyBank unsecured credit card account (“Credit Card”) and access
daily transaction information, you acknowledge that KeyBank receives information
from a third party vendor and is not liable for delays in providing updated information.
This electronic record is for informational purposes only and does not satisfy the
requirements of the federal Truth-in-Lending Act nor does it replace your monthly
statement. Your monthly statement contains detailed payment information. This
electronic record does not include information about your Cash Advance Credit Line
on your Credit Card account. Only a portion of your Credit Line may be available for
cash transactions; consult your monthly statement for details.
By enrolling in and utilizing HelloWallet, you agree to authorize HelloWallet to access
your KeyBank Online Banking account to capture your account information as part of
the HelloWallet service and subject to terms between you and HelloWallet. You also
understand that HelloWallet is a Third Party Website, and KeyBank is not responsible
for the site content, links, privacy policy, or security policy of such website.
14.
AUTHORIZATION FOR COMMERCIAL ACCOUNTS AND LOAN PAYMENTS/
DISBURSEMENTS
16. KEYBANK HOURS OF OPERATION; CUTOFF TIMES
If you have a commercial loan or line of credit from KeyBank (a “Commercial Credit
Account”), you hereby authorize us to accept your electronic instructions from time
to time pursuant to this online Service in order to (a) disburse loan advances under
your Commercial Credit Account as a credit to any designated deposit account
with us and (b) transfer funds from your designated deposit account with us as a
payment on your Commercial Credit Account. This Commercial Credit Account and
any designated deposit account shall be considered an Activated Account under
this Agreement. You represent and warrant to us that you are the owner of all such
deposit accounts and are authorized to withdraw funds from such accounts and to
take draws from the Commercial Credit Accounts. You agree that you shall be liable
for all sums transferred pursuant to this Authorization and that all transfers will also
be subject to the terms of the Promissory Note(s) evidencing the Commercial Credit
Account(s). You agree that we are not obligated to honor your electronic instructions
on our Website in connection with this Authorization if you fail to maintain adequate
funds to cover requested payment transfers, and we shall not be liable for dishonor
of checks or other items presented against our deposit account due to insufficient
funds caused by following your electronic instructions hereunder. You agree that use
of your User ID and related Password represent commercially reasonable security
procedures, which you and we agree upon, for purposes of your providing electronic
instructions for loan advances and loan payments from and to your Commercial
Credit Account.
Business days are Monday through Friday, except holidays. Transaction requests on
Saturday and Sunday are considered Monday transactions, except if Monday is a
holiday. The Services are available to you 24 hours a day except at times of Systems
Unavailability and except as to the Online Bill Pay Expedited Payments service which
is available from 4:00 a.m. to 7:00 p.m. ET Monday through Friday. Bonus Offers are
available subject to the terms and conditions of each such offer. Transactions you
conducted after the Cutoff Time will be posted to our official account statement the
next business day. “Cutoff Time” refers to, for the times stated below, local time at
our KeyCenter where your Activated Account is maintained, Monday through Friday,
except holidays, unless otherwise stated: (1) for Bill Payment: 7:00 p.m. ET; (2) for
Transfer Funds: 7:00 p.m. local time; (3) for Wire Transfer: 4:00 p.m. ET; (4) for
Stop Payment: 10:00 p.m. local time; and (5) for any KeyBank - KeyDirect Account:
7:00 p.m. ET for all activity; (6) for Loan or Line of Credit Payments paid via the Loan
Payment functionality, or Credit Card payments: 4:30 p.m. ET The loan payment
functionality is only available between 7 a.m. and 7 p.m. ET. If you send a Bill Pay
request near the Cutoff Time and your transaction is not completed before the Cutoff
Time, your transaction request will be sent the next business day. We may change
any Cutoff Time without notifying you.
17. YOU MAY INCUR ADDITIONAL COSTS FOR USING THE SERVICE
You also agree that as to any Activated Account that is used for business or
commercial activity and all Commercial Credit Accounts, you have been authorized
by the appropriate action of the business to initiate transactions in the accounts
and to act on behalf of the business, including, without limitation, to enroll in the
eBill feature of the Services and to accept all agreements, disclosures, terms and
conditions of any Payee on behalf of the business or on your own behalf. KeyBank
may rely on this authorization until you notify KeyBank in writing that such authority
has been withdrawn.
You understand that utilization of the “Enhanced Funds Transfer”, which allows you
to transfer funds to and from accounts outside of Key and to others within Key who
are not associated with your accounts may incur certain costs associated with ACH
(Automated Clearing House) processing through the Website. You agree that you will
pay all fees and charges in connection with your use of the Enhanced Funds Transfer
feature through Online Banking.
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18. PRIVACY
YOUR TRANSMISSIONS OR DATA; (iv) STATEMENTS OR CONDUCT OF ANYONE
ON OUR WEBSITE OR IN ANY RELATED SERVICES; OR (v) ANY OTHER MATTER
RELATING TO OUR WEBSITE OR ANY RELATED SERVICES.
We maintain procedures to protect confidential information about you and your use
of our products and services. Our information practices are fully detailed in The
KeyCorp Privacy Notice. By enrolling in any Service, you agree to receive our Privacy
Notice electronically. This means that you can access our current Privacy Notice at
any time on our Website, and that Key will no longer annually mail you a paper copy
for as long as you remain enrolled in any Service.
23.CANCELLATION
You may cancel one or more of the Services by notifying us at the telephone number
or address referenced in the section titled Reporting Unauthorized Transactions. We
may require you to confirm your request in writing. We may cancel your access to all
or any one of the Services without notice. Cancellation of Online Bill Pay, will stop all
online access to Online Bill Pay. If you wish to cancel your enrollment in HelloWallet,
you must do so directly on the HelloWallet website.
19. THIRD PARTY LINK DISCLOSURE
It is possible that the Service may offer links to other sites not operated by KeyBank.
The eBill function may provide a link to a Payee’s website in order for you to obtain
an eBill from that Payee. The HelloWallet program may provide a link to HelloWallet in
order for you to modify your financial information or view your Wellness Score. These
links are provided for your convenience and only are offered for your use at your own
discretion. KeyBank cannot attest to the content or accuracy of information provided
by these linked sites, and does not provide, endorse, or accept responsibility for
the product, service or overall content available on third party websites. KeyBank
does not represent you or the third party site in any transaction you may enter into
with the third party. The Privacy and Security policies of the third party website
to which you are linking may differ from those of KeyBank. You should review the
privacy or security disclosures on each third party site for further information. Third
party websites may provide less security than websites operated and maintained by
KeyBank.
24. SYSTEMS UNAVAILABILITY
The Service may be unavailable when systems require maintenance or upgrades
or major unforeseen events occur, such as earthquakes, fires, floods, computer
failures, interruptions in telephone service, electrical outages, civil unrest or riots,
war, or acts or threaten acts of terrorism or other circumstances beyond our control.
We shall have no liability for interruptions or delays in Services due to Systems
Unavailability.
25. SECURITY
We will take security procedures and counter-measure procedures to ensure the
security and confidentiality of your financial records and transactions under the
Services. You agree to comply with all security procedures we may impose for use of
the Services including the use of up-to-date firewall and virus protection software on
any computer you may use to access the Services. You agree the security techniques
used by us in connection with the Services are commercially reasonable security
procedures, and you assume all risk of loss for unauthorized transactions where
we have followed our then current security procedures, except to the extent that
such liability is limited or prohibited by applicable law or in the event that our EFT
Disclosure Statement is applicable to the electronic funds transfer or other error.
20. REPORTING UNAUTHORIZED TRANSACTIONS
If you believe an unauthorized transaction was made in any Activated Account in
connection with any Service, call us immediately at 800-539-1539 or for TTY/TDD
at 800-539-8336, or write to: Online Banking Customer Service at 3290 Main St.,
Amherst, NY 14226, MAILCODE: NY-00-01-0275.
21. YOUR RESPONSIBILITIES
You are responsible for all electronic funds transfers and electronic payments you
make using the Service. If you permit other persons to use the Service or your
Password, you are responsible for all electronic funds transfer transactions they
make from your Activated Accounts. You are liable for all transfers and payments that
you make or are made by any other user, even if such user exceeds your authority
or is not an authorized signer on your Account. You must notify us immediately if
you believe any of your Activated Accounts was accessed or your Password was
used without your permission. If you are an individual and use your Activated
Account for personal, family or household purposes, important limitations on your
liability for unauthorized electronic funds transfers and other electronic errors that are
covered by Regulation E (12 C.F.R. Part 205) are explained in our EFT Disclosure
Statement. However, if you use the Services for any business activity, you
assume all risk of loss for unauthorized transfers and payments, and you
must establish your own internal security procedures for employees you
authorize to use the Services and to prevent all unauthorized use by other
employees or persons.
26. CHANGES TO AGREEMENT
22. DISCLAIMER OF WARRANTIES; OUR RESPONSIBILITY AND LIMITATION OF
LIABILITY
You may not transfer or assign this Agreement without our prior written approval,
and any unauthorized assignment or transfer will be null and void. We may assign or
transfer this Agreement at any time without notice.
Except as otherwise required by applicable law, we may add, remove, or otherwise
modify any of the terms and conditions of this Agreement, its related services, and
applicable fees and charges, at any time and without notice to you, and such changes
will be effective immediately. This Agreement as revised will be posted on an Internet
website at www.key.com, and we may send you written notice at your Email or postal
address in our files. Your continued use of any Service (covered hereby) after our
sending any required notice, or posting such changes to this Agreement on this
website, will constitute your acceptance of and agreement to be bound by such
changes to this Agreement. You agree that these procedures are acceptable to you
to provide you with notice of changes to this Agreement. The revised Agreement will
supersede the affected terms and conditions of this Agreement and shall apply to
any activity or transaction previously or hereafter taken by you in connection with
such Service, except new fees and charges shall apply prospectively only.
27. ASSIGNMENT OF THIS AGREEMENT
The Deposit Agreement, User Agreement, and our EFT Disclosure Statement
describe our responsibility for completing electronic funds transfers and electronic
payments, and our exceptions from liability for our failure to do so. This Agreement
applies to your online transactions under the Services. WE WILL ALSO HAVE NO
LIABILITY WHATSOEVER FOR FAILURE TO COMPLETE A PAYMENT OR TRANSFER
YOU INITIATE OR ATTEMPT TO INITIATE THROUGH THE SERVICE UNDER ANY OF
THESE CIRCUMSTANCES: (1) if the transfer or payment could not be completed due
to Systems Unavailability or due to any circumstances beyond our control, including,
without limitation, acts of God, any malfunction of your Internet access equipment,
any internet virus, Trojan horse, worm or other hostile software code, or any problem
that may be associated with your use of any Service or (2) if the payment was a tax
payment, a court ordered payment or payment to a payee outside the U.S.A. WE
MAKE NO WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION,
ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE, WITH RESPECT TO ANY SERVICE, PRODUCT, OR OFFER.
28. GOVERNING LAW; UNLAWFUL ACTIVITIES PROHIBITED
Our Website (excluding linked sites) is controlled by us from our offices in the State
of Ohio, United States of America. All matters relating to your access to or use of
our Website shall be governed by the laws of the State of Ohio, and the federal laws
of the U.S.A., without regard to any conflicts of law principles. The application of
the United Nations Convention of Contracts for the International Sale of Goods, and
the model Uniform Computer Information Transactions Act approved by the National
Conference of Commissioners on Uniform State Laws (as enacted and/or modified
into any state law in the U.S.A.), are hereby expressly excluded and shall not apply to
the this Agreement and the Services, Products and Materials accessed hereunder.
We make no representation that our Products, Materials or Services available our
Website are lawful, appropriate or available for use in any location outside Ohio, and
your accessing them from territories where the same or their content is unlawful
or illegal is prohibited. You are solely responsible for compliance with local laws
where you reside or are located. If you use our Website or our Products, Materials or
Services for any unlawful or illegal purpose, you must promptly reimburse us for all
losses, costs and expenses incurred by us as a result of such use.
YOU AGREE THAT NEITHER WE NOR OUR SERVICE PROVIDERS WILL BE LIABLE
FOR ANY HARMS, WHICH LAWYERS AND COURTS OFTEN CALL DIRECT,
INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES,
INCUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL,
USE, DATA OR OTHER INTANGIBLE LOSSES, EVEN IF WE HAVE BEEN ADVISED OF
THE POSSIBILITY OF SUCH DAMAGES, RESULTING FROM: (i) THE USE OR THE
INABILITY TO USE OUR WEBSITE OR ANY RELATED SERVICES; (ii) THE COST OF
GETTING SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY PRODUCTS,
DATA, INFORMATION OR SERVICES PURCHASED OR OBTAINED OR MESSAGES
RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM OUR WEBSITE
OR RELATED SERVICES; (iii) UNAUTHORIZED ACCESS TO OR ALTERATION OF
29.
WIRELESS EXPRESS CONSENT
By providing a telephone number for a cellular telephone, other wireless device, or
a landline number that was later converted to a wireless device, you are expressly
consenting to receiving communications at that number, including, but not limited
to, prerecorded or artificial voice message calls, text messages, and calls made by
an automatic telephone dialing system from KeyBank National Association and its
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affiliates and agents. This express consent applies to each such telephone number
that you provide to us now or in the future and permits such calls regardless of
their purpose. These calls and messages may incur access fees from your cellular
provider.
30. JURISDICTION AND VENUE
You agree and hereby submit to the exclusive personal jurisdiction and venue of the
State courts and federal courts in Cuyahoga County, Ohio, with respect to all matters
relating to your access to or use of our Website or any Product, Material or Service.
You irrevocably consent to such jurisdiction and venue.
31. SEVERABILITY; PARAGRAPH HEADINGS
If any term of this Agreement is declared invalid or unenforceable by any court,
the remaining terms of this Agreement will not be affected, and this Agreement
will be interpreted as if the invalid terms had not been in place for this Agreement.
Paragraph headings do not limit or define either party’s rights or obligations.
32. ARBITRATION; WAIVER OF JURY TRIAL
Any claim arising out of or relating to this Agreement concerning any KeyBank
deposit account that is an Activated Account under this Agreement, or any related
Service, is subject to the terms and conditions concerning Arbitration and Waiver of
Jury Trial described in our Deposit Account Agreement and Funds Availability Policy.
Last Modified: July 2016
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Key.com is a federally registered service mark of KeyCorp.
© 2016 KeyCorp. KeyBank is Member FDIC.
WC-D
Rev. 5-21-2015
FACTS
WHAT DOES KEYCORP DO WITH YOUR PERSONAL INFORMATION?
Why?
Financial companies choose how they share 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
personal information. Please read this notice carefully to understand what we do.
The types of personal information we collect and share depend on the product and services you have
with us. This information can include:
 Social Security number and income
What?
 Account balance and payment history
 Credit history and credit scores
How?
All financial companies need to share customer's 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 KeyCorp (Key) chooses to share, and whether you can limit this sharing.
Reasons we can share your personal
information
Does Key share?
Can you limit the
sharing?
For our everyday business purposes – such as to
process your transactions, maintain your accounts, and
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 purposes – information about
your credit worthiness
YES
YES
To our affiliates to market to you
YES
YES
For nonaffiliates to market to you
NO
We don’t share
 Call 1-800-361-0968 – our menu will prompt you through your choices
 Visit us online: key.com/security
To limit
our sharing
Questions?
Please note:
If you are a new customer, we can begin sharing your information 30 days from the date we sent this
notice. When you are no longer our customer, we can continue to share your information as described
in this notice. However, you can contact us at any time to limit our sharing.
Call 1-800-361-0968 or go to key.com/security
Page 2
Who we are
Who is providing this notice?
KeyCorp (Key) and the Key family of companies (see affiliate list below).
What we do
How does Key protect my
personal information?
How does Key collect my
personal information?
To protect your information from unauthorized access and use, we use security measures
that comply with federal law. These measures include computer safeguards and secured
files and buildings.
We collect your personal information, for example, when you
 Open an account or deposit moneys
 Pay bills or apply for products and services
 Use your credit card or debit card.
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
 sharing for affiliates’ everyday business purposes—information about your
creditworthiness
 affiliates from using your information to market to you
 sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit sharing.
What happens when I limit
sharing for an account I hold
jointly with someone else?
If you have a product held jointly with another person(s), each of you may opt out
individually or you may opt out for each other.
Definitions
Affiliates
Companies related by common ownership or control. They can be financial and nonfinancial companies.
The Key family of companies, includes: KeyBank National Association; KeyBanc Capital Markets Inc.; Key
Financial Services Inc.; Key Investment Services LLC; KeyCorp Insurance Agency USA Inc.; KeyCorp
Insurance Agency USA Inc. (ID); KeyCorp Insurance Agency USA Inc. (WA); Austin Capital Management LTD.;
Austin Capital Offshore Management, LLC; Key Trust Company of Delaware; KPB Investment Advisors LLC;
Key Community Development Corporation; Pacific Crest Securities LLC.
For a current list of the members of the Key family of companies, visit www.key.com/privacy.
Nonaffiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies
Joint Marketing
A formal agreement between nonaffiliated financial companies that together market financial products
or services to you.
Other important information
You may have other privacy protections under applicable state laws. For example, if you have a California or Vermont
mailing address we will automatically limit internal sharing and sharing for marketing use within the Key family of
companies. Key does not share customer information with third parties, except as permitted by law. These sharing
limitations will continue for as long as our records indicate you are a Vermont or California consumer. If our records show
you no longer reside in Vermont or California, your opt outs will revert back to the preference(s) originally on file with Key.
However, you may still limit sharing by recording your preferences with Key, by calling our toll-free Privacy Line at
800-361-0968.
Special Notice for Nevada (Nevada law also requires that we provide you with the following contact information)
KeyCorp
Bureau of Consumer Protection
Privacy Department
Office of the Nevada Attorney General
OH-01-49-2995
555 E. Washington Street, Suite 3900
4900 Tiedeman Rd.
Las Vegas, Nevada 89101
Brooklyn, OH 44144
Phone: 702-486-3132
Email: [email protected]
©2015 KeyCorp. ADL4764
Form No. 80-0405x (Rev. 5/21/2015)