Common use of Closing an Account Clause in Contracts

Closing an Account. You or we may close your Money Market Deposit Account at any time, subject to our right to require you to give us seven (7) days written notice of your intent to withdraw your funds (see Withdrawals). In addition, Money Market Deposit Accounts will be closed automatically if we do not receive your Initial Deposit within thirty (30) days of the date on which your Money Market Deposit Account is opened. You may close your CD Account at maturity without penalty. Any other closure of your CD Account may be subject to an early withdrawal penalty (see Truth in Savings Disclosure). At closure of your CD Account, you will be paid interest to the date of closure and then any applicable early withdrawal penalty will be assessed. We may also close your CD Account at maturity without advance notice. In addition, your CD Account will be closed automatically if you have not funded your CD Account within sixty (60) days of the date on which your CD Account is opened. If your Account has a balance when we close it, we will return remaining funds to you, less any applicable penalty, unless prohibited by applicable law. If you close your Account and items are later presented against your account, we are not liable for any losses or damage that may result from dishonoring any items. If your Account is overdrawn when we close it, you agree to pay immediately all amounts you owe us. If you request to close your account within ninety (90) days of opening the Account, the balance in your Account will be returned via ACH to the External Account from which it was originally funded.

Closing an Account. You or we may close your Money Market Deposit Account, Online Savings, IRA Online Savings or Interest Checking Account at any time, subject to our right to require you to give us seven (7) days written notice of your intent to withdraw your funds (see Withdrawalsas described in this Agreement). In addition, Money Market Deposit Accounts your account will be closed automatically if we do not receive your Initial Deposit initial deposit of funds to (i) a Money Market Account, Online Savings, or Interest Checking Account within thirty (30) days of the date on which your Money Market Deposit Account account is opened. You may close your CD Account at maturity without penalty. Any other closure of your CD Account may be subject to opened or (ii) an early withdrawal penalty IRA within ninety (see Truth in Savings Disclosure). At closure of your CD Account, you will be paid interest to the date of closure and then any applicable early withdrawal penalty will be assessed. We may also close your CD Account at maturity without advance notice. In addition, your CD Account will be closed automatically if you have not funded your CD Account within sixty (6090) days of the date on which your CD Account account is opened. If your Account account has a balance when we close it, we will return remaining funds to you, less any applicable penalty, unless prohibited by applicable law. If you close your Account account and items are later presented against your account, we are not liable for any losses or damage that may result from dishonoring any items. If your Account account is overdrawn when we close it, you agree to pay immediately all amounts you owe us. If you request to You may close your account CD or IRA CD at maturity without penalty. Any other closure of your CD or IRA CD may be subject to an early withdrawal penalty, as described in this Agreement. IRS penalties may apply to IRA CDs, see the Custodial Account Agreement and Disclosure Statement provided at the time of your online application and in your Welcome Kit. At closure of your CD or IRA CD, you will be paid interest to the date of closure and then any applicable early withdrawal penalty will be assessed. We may also close your CD or IRA CD at maturity without advance notice. In addition, your CD or IRA CD will be closed automatically if you have not funded your CD within sixty (60) days or your IRA CD within ninety (90) days of opening the Account, the balance in date on which your Account will be returned via ACH to the External Account from which it was originally fundedCD or IRA CD is opened.