Telephone Monitoring and Recording. When you or someone on your behalf provides us a telephone number or calls us, you authorize us to call you at that number, and to monitor and to record telephone and other electronic communications the caller has with us and with our representatives for business purposes, including security and quality assurance. The caller may hear a beep tone when a call is being recorded or, if there is no beep tone, the caller may be asked, in advance, for consent to record the telephone conversation or told the call is being recorded. By continuing the telephone call after hearing the beep tone or being otherwise notified, the caller agrees to our right to record the telephone conversation. We may retain any telephone recording for such time as we shall determine but we shall have no liability to you if we do not retain the recording. INSTRUCTIONS RECEIVED BY FACSIMILE OR ELECTRONIC MAIL (EMAIL) OR ON TELEPHONE ANSWERING MACHINES We are not required to act upon instructions received by facsimile, electronic mail or on a telephone answering machine and shall not be liable or responsible to you for our failure to act on any such instruction unless we otherwise specifically agree in writing. In the event we do act on any such instruction received from you or from an authorized person acting on your behalf, you shall be bound by the instruction. An instruction received by facsimile shall not be deemed received until the instruction is actually received and reviewed by our employee or agent responsible to carry out the instruction. An instruction received by electronic mail shall not be deemed received until the instruction is actually opened and reviewed by the addressee. An instruction received on a telephone answering machine shall not be deemed received until the instruction is actually reviewed by our employee or agent responsible to carry out the instruction. ACCOUNT TYPES & OWNERSHIP BUSINESS ACCOUNTS Any deposit account which is not held or maintained primarily for personal, family or household purposes. A business account is available to business entities, including corporations, professional corporations, limited partnerships, general partnerships, limited liability partnerships, sole ownership businesses (sole proprietorships), limited liability companies, professional limited liability companies, charitable organizations, embassies, consulates and diplomatic missions, statutory trusts, unincorporated associations of persons, public agencies and foreign business entities. For a business account, each person signing the Business Account Agreement represents and warrants that they are fully authorized to execute all documents on behalf of the business and have provided evidence of such authority acceptable to us. Please note we may refuse to recognize any resolution affecting the account that is not on our form or that appears incomplete or improper. We consider your account to be a business account if you tell us it is at the time you establish the account with us or at any later time. We may also consider your account to be a business account if we determine, in our sole discretion, that the transaction activity and volume is not for personal, family or household purposes. If we consider your account to be a business account, we reserve the right to charge your account the fees and charges applicable to businesses. We will notify you of any change in your account status. PERSONAL ACCOUNTS Any deposit account which is held or maintained primarily for personal, family or household purposes. A consumer account may be owned by one individual, jointly with other individuals, or in trust for (or for the benefit of) one or more individuals. We offer the following types of account ownership for individuals. Please note that your Last Will and Testament ("Last Will") may not control the disposition of funds held in some of these accounts. Individual The owner of the account is one individual. When the owner dies, ownership of funds in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy unless you have indicated a beneficiary by a "pay on death" instruction where permitted by law (see below). Joint Tenancy (with Right of Survivorship) The owners of the account are two or more individuals. All owners of the account have equal and undivided ownership in the whole account during their respective lifetimes. When an owner dies, the funds in the account belong to the surviving owner or owners automatically. Unless specifically indicated otherwise, each account held in joint tenancy is presumed to be held in joint tenancy with right of survivorship. A "pay on death" instruction may be added to this account where permitted by law (see below). Bank Account Trust (▇▇▇▇▇▇ Trust) When an account is opened with ownership showing one party (the "trustee") "…in trust for…" another party (the "beneficiary") and there is no written trust agreement, in the absence of other facts, the trustee (or trustees) is/are the owner(s) of the account and the beneficiary(ies) has no interest in the account until the trustee, or all of the trustees, dies. We will pay the funds in the account to the trustee during his or her lifetime or to the surviving trustee(s) if there is more than one trustee. When the last trustee dies, the balance in the account is paid to the surviving named beneficiary or, if there is more than one surviving beneficiary, to the beneficiaries in equal shares, unless we are otherwise instructed by the trustee in writing prior to the death of the trustee or last surviving trustee. The trustee must keep us informed about each beneficiary's location. However, we are not responsible to notify beneficiaries of the existence of the account or death of the trustee and we may not do so. Community Property (Available Where Allowed by Law) The owners of the account are married or are registered domestic partners under the law and each owner has an interest in the account. When one spouse or partner dies, ownership does not automatically pass to the surviving spouse or partner because the deceased spouse or partner can pass his or her interest by Last Will to someone else. To open a community property account you must clearly indicate on the account agreement that the account is held as "Community Property." Fiduciary (Trusts, Estates, Guardianships, etc.) Executors, administrators, conservators, personal representatives, guardians or trustees under written trust agreements, court orders or other documents may open accounts as fiduciaries. We may require and you shall provide evidence of the authority of such person or persons to act, such as a copy of the court order appointing the fiduciary, or a copy of the trust instrument, or portions of the trust instrument or appropriate trustee certification. This documentation will verify that the person or persons opening the account is or are the designated fiduciary, his or her powers, the provisions for succession and any unusual provisions. Pay-on-Death Instruction (Available Where Allowed by Law) Clients who maintain individual, joint tenancy or sole proprietorship accounts may designate a "pay-on-death" beneficiary or beneficiaries on a form provided by us. An individual or sole proprietorship account with such a beneficiary is owned by the individual or sole proprietor and upon the owner's death we will deliver the funds in the account to the beneficiary or beneficiaries. A joint tenancy account with such beneficiary or beneficiaries is owned by the joint tenants. Upon the death of one joint tenant, the surviving joint tenant or tenants own the account. Upon the death of the last surviving joint tenant, we will deliver the funds to the then designated surviving beneficiary or beneficiaries. Any joint tenant or surviving joint tenant may change a beneficiary at any time. If there is more than one beneficiary, we will pay the funds in the account to the beneficiaries in equal shares, unless we are otherwise instructed by the owner in writing prior to the owner's death or the death of the last surviving owner. Each owner must keep us informed about each beneficiary's location. However, we are not responsible to notify a beneficiary of the existence of the account or the death of the owner and we may not do so. A beneficiary may be an organization. Tenancy-in-Common All owners of the account have ownership in the account but the percentage of each owner's interest may vary. When an owner dies, that owner's interest in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy. The surviving owners are not entitled to the deceased owner's share by reason of the account ownership. To open a tenancy-in- common account you must clearly indicate on the account agreement that the account is held as "Tenants-in-Common." Transfers to Minors
Appears in 2 contracts
Sources: Deposit Account Agreement, Account Agreement and Disclosures
Telephone Monitoring and Recording. When You agree that SunTrust may monitor and/or record any telephone conversation with you or someone on your behalf provides us a telephone number or calls usfor any reason, including to monitor the quality of service you authorize us to call you at that number, receive and to monitor and to record telephone and other electronic communications the caller has with us and with our representatives for business purposes, including security and quality assuranceverify transaction related information. The caller may hear a beep tone when a call You agree that SunTrust is being recorded or, if there is no beep tone, the caller may be asked, in advance, for consent to record the telephone conversation or told the call is being recorded. By continuing the telephone call after hearing the beep tone or being otherwise notified, the caller agrees to our right to record the telephone conversation. We may retain any telephone recording for such time as we shall determine but we shall have no liability to you if we do not retain the recording. INSTRUCTIONS RECEIVED BY FACSIMILE OR ELECTRONIC MAIL (EMAIL) OR ON TELEPHONE ANSWERING MACHINES We are not required to act upon instructions received by facsimileremind you before or during each telephone call that the conversation is subject to being monitored and/or recorded in accordance with applicable state and federal law. The Bank accepts no liability with respect to an Account except to the Depositor, electronic mail or on a telephone answering machine and shall not be liable to Depositor's officers, directors, stockholders, partners, joint venturers or responsible other interested persons. The Bank will rely upon the signature card, resolution or other written designation of Authorized Signers on an Account until we have received written notice in a form acceptable to you for our failure the Bank that the authority has been terminated and we have had a reasonable time to act upon the notice. Depositors referenced on the Bank’s records as owners or authorized officers designated to have such authority can add or remove authorized signers or additional signatories from the Account. If the authorized signers in your Account change, the Bank may continue to honor items and instructions given earlier by any such instruction unless previously authorized signer until we otherwise specifically agree in writingreceive specific written notice from you not to do so and have had a reasonable amount of time to act. In such cases, we may require that you close the event we do act Account and open a new one or place stop payment orders to prevent transactions from occurring. Each Depositor referenced on any such instruction received from you the Bank’s records as an owner of the Account or from an authorized person acting each signer named on your behalfsignature card or resolution is authorized to endorse and deposit items payable to your Account, sign checks, drafts, items or other written orders and initiate wire transfers and execute Bank’s Funds Transfer Authorization wire request form and disclosure, place and remove stop payment requests, and make withdrawals. The Bank does not, however, verify the signatures on every check paid against your Account, which is in accordance with industry standards and you agree that this is not a failure by the Bank to exercise ordinary care. When you receive your monthly statement, you shall be bound by the instructionshould carefully and promptly examine it to verify only authorized checks have been paid. An instruction received by facsimile shall The Bank will not be deemed received until the instruction is actually received and reviewed by our employee or agent responsible to carry out the instruction. An instruction received by electronic mail shall not be deemed received until the instruction is actually opened and reviewed by the addressee. An instruction received on a telephone answering machine shall not be deemed received until the instruction is actually reviewed by our employee or agent responsible to carry out the instruction. ACCOUNT TYPES & OWNERSHIP BUSINESS ACCOUNTS Any deposit account which is not held or maintained primarily for personal, family or household purposes. A business account is available to business entities, including corporations, professional corporations, limited partnerships, general partnerships, limited liability partnerships, sole ownership businesses (sole proprietorships), limited liability companies, professional limited liability companies, charitable organizations, embassies, consulates and diplomatic missions, statutory trusts, unincorporated associations of persons, public agencies and foreign business entities. For a business account, each person signing the Business Account Agreement represents and warrants that they are fully authorized to execute all documents on behalf of the business and have provided evidence of such authority acceptable to us. Please note liable if we may refuse to recognize honor any resolution affecting the account item that is not on our form or that appears incomplete or improper. We consider your account to be a business account if you tell us it is at the time you establish the account with us or at any later time. We may also consider your account to be a business account if we determinebelieve, in our sole discretion, that the transaction activity and volume is does not for personal, family or household purposescontain a genuine authorized signature. If we consider your account to be a business account, we reserve the right to charge your account the fees and charges applicable to businessesMultiple Signatures. We will notify you of any change in your account status. PERSONAL ACCOUNTS Any deposit account The Bank does not offer accounts on which is held or maintained primarily for personal, family or household purposes. A consumer account may be owned by one individual, jointly with other individuals, or in trust for (or for the benefit of) one or more individuals. We offer the following types of account ownership for individuals. Please note that your Last Will and Testament ("Last Will") may not control the disposition of funds held in some of these accounts. Individual The owner of the account is one individual. When the owner dies, ownership of funds in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy unless you have indicated a beneficiary by a "pay on death" instruction where permitted by law (see below). Joint Tenancy (with Right of Survivorship) The owners of the account are two or more individualssignatures are required for a withdrawal of funds from your Account. All owners Any attempt to include such requirement on your checks, signature card or other governing account documents will be for your internal purposes or controls only and will not be binding on the Bank. The Bank may pay checks, items, electronic debits, wires, check card transactions, online banking transactions, or other withdrawal instructions signed or approved by any one of the account have equal and undivided ownership in the whole account during their respective lifetimes. When an owner dies, the funds in the account belong to the surviving owner or owners automatically. Unless specifically indicated otherwise, each account held in joint tenancy is presumed to be held in joint tenancy with right of survivorship. A "pay on death" instruction may be added to this account where permitted by law (see below). Bank Account Trust (▇▇▇▇▇▇ Trust) When an account is opened with ownership showing one party (the "trustee") "…in trust for…" another party (the "beneficiary") and there is no written trust agreement, in the absence of other facts, the trustee (or trustees) is/are the owner(s) of the account and the beneficiary(ies) has no interest in the account until the trustee, or all of the trustees, dies. We will pay the funds in the account to the trustee during his or her lifetime or to the surviving trustee(s) if there is more than one trustee. When the last trustee dies, the balance in the account is paid to the surviving named beneficiary or, if there is more than one surviving beneficiary, to the beneficiaries in equal shares, unless we are otherwise instructed by the trustee in writing prior to the death of the trustee or last surviving trustee. The trustee must keep us informed about each beneficiary's location. However, we are not responsible to notify beneficiaries of the existence of the account or death of the trustee and we may not do so. Community Property (Available Where Allowed by Law) The owners of the account are married or are registered domestic partners under the law and each owner has an interest in the account. When one spouse or partner dies, ownership does not automatically pass to the surviving spouse or partner because the deceased spouse or partner can pass his or her interest by Last Will to someone else. To open a community property account you must clearly indicate authorized signers on the account agreement that the account is held as "Community PropertyAccount." Fiduciary (Trusts, Estates, Guardianships, etc.) Executors, administrators, conservators, personal representatives, guardians or trustees under written trust agreements, court orders or other documents may open accounts as fiduciaries. We may require and you shall provide evidence of the authority of such person or persons to act, such as a copy of the court order appointing the fiduciary, or a copy of the trust instrument, or portions of the trust instrument or appropriate trustee certification. This documentation will verify that the person or persons opening the account is or are the designated fiduciary, his or her powers, the provisions for succession and any unusual provisions. Pay-on-Death Instruction (Available Where Allowed by Law) Clients who maintain individual, joint tenancy or sole proprietorship accounts may designate a "pay-on-death" beneficiary or beneficiaries on a form provided by us. An individual or sole proprietorship account with such a beneficiary is owned by the individual or sole proprietor and upon the owner's death we will deliver the funds in the account to the beneficiary or beneficiaries. A joint tenancy account with such beneficiary or beneficiaries is owned by the joint tenants. Upon the death of one joint tenant, the surviving joint tenant or tenants own the account. Upon the death of the last surviving joint tenant, we will deliver the funds to the then designated surviving beneficiary or beneficiaries. Any joint tenant or surviving joint tenant may change a beneficiary at any time. If there is more than one beneficiary, we will pay the funds in the account to the beneficiaries in equal shares, unless we are otherwise instructed by the owner in writing prior to the owner's death or the death of the last surviving owner. Each owner must keep us informed about each beneficiary's location. However, we are not responsible to notify a beneficiary of the existence of the account or the death of the owner and we may not do so. A beneficiary may be an organization. Tenancy-in-Common All owners of the account have ownership in the account but the percentage of each owner's interest may vary. When an owner dies, that owner's interest in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy. The surviving owners are not entitled to the deceased owner's share by reason of the account ownership. To open a tenancy-in- common account you must clearly indicate on the account agreement that the account is held as "Tenants-in-Common." Transfers to Minors
Appears in 1 contract
Sources: Banking Service Agreements
Telephone Monitoring and Recording. When In order to ensure that you receive the best possible service, and that our employees comply with our policies and applicable laws in their contact with you, on occasion, we may record your call or someone we may have a second employee listening to your call. You consent to the recording and monitoring of your calls and further authorize us to contact you by telephone for any lawful purpose. Change of Address – If your mailing address or contact information has changed, or if the address as it appears on your behalf provides this billing statement is incorrect, you must notify us a promptly by contacting us at the address or telephone number at the beginning of this Agreement or calls ususe our website at ▇▇▇.▇▇▇▇▇▇▇▇▇.▇▇▇. If we note that mail addressed to you is returned to us by the United States Postal Service (USPS) with an address correction label, you authorize us to call accept, at our option, the mailing address correction provided by USPS to correct the address on your Account. If you at that numberhave elected to receive electronic billing statements for this Account, you must promptly provide us with an update of your correct email address. Your email address may be easily updated by accessing our electronic banking platform “Home Banking” located on our website. A bad address may result in a monthly Bad Address Processing Fee as set forth in our current Schedule of Fees. Information we share and our Privacy Policy – We do not share your personal information except with non-affiliated service providers we use to monitor service your Account and we only share the information necessary to record telephone accomplish specific tasks. By opening this Account, you understand and other electronic communications grant us the caller has authorization to share information about you and this Account with us and the service provider we use to assist you in case of emergency about your Account. Our overall Privacy Policy is available on our website, was provided to you in the Universal Account Agreement when you opened your membership. Our Privacy Policy is also made available to you electronically if you are registered with our representatives e-Statement service or by U.S. Postal service on an annual basis. Liability for business purposesLost or Stolen Cards or Account Number – If your Card, including security and quality assurance. The caller Account number or other means to access your Account are lost or stolen, or you think someone used or may hear a beep tone when a call is being recorded oruse your Account without your permission, if there is no beep toneyou must notify us at once, the caller may be asked, in advance, for consent to record the telephone conversation orally or told the call is being recorded. By continuing the telephone call after hearing the beep tone or being otherwise notified, the caller agrees to our right to record the telephone conversation. We may retain any telephone recording for such time as we shall determine but we shall have no liability to you if we do not retain the recording. INSTRUCTIONS RECEIVED BY FACSIMILE OR ELECTRONIC MAIL (EMAIL) OR ON TELEPHONE ANSWERING MACHINES We are not required to act upon instructions received by facsimile, electronic mail or on a telephone answering machine and shall not be liable or responsible to you for our failure to act on any such instruction unless we otherwise specifically agree in writing. In the event we do act on any such instruction received from you or from an authorized person acting on your behalf, you shall be bound by the instruction. An instruction received by facsimile shall not be deemed received until the instruction is actually received and reviewed by our employee or agent responsible Monday through Friday 9:00 AM to carry out the instruction. An instruction received by electronic mail shall not be deemed received until the instruction is actually opened and reviewed by the addressee. An instruction received on a telephone answering machine shall not be deemed received until the instruction is actually reviewed by our employee or agent responsible to carry out the instruction. ACCOUNT TYPES & OWNERSHIP BUSINESS ACCOUNTS Any deposit account which is not held or maintained primarily for personal, family or household purposes. A business account is available to business entities, including corporations, professional corporations, limited partnerships, general partnerships, limited liability partnerships, sole ownership businesses (sole proprietorships), limited liability companies, professional limited liability companies, charitable organizations, embassies, consulates and diplomatic missions, statutory trusts, unincorporated associations of persons, public agencies and foreign business entities. For a business account, each person signing the Business Account Agreement represents and warrants that they are fully authorized to execute all documents on behalf of the business and have provided evidence of such authority acceptable to us. Please note we may refuse to recognize any resolution affecting the account that is not on our form or that appears incomplete or improper. We consider your account to be a business account if you tell us it is 5:30 PM at the time you establish the account with us or at any later time. We may also consider your account to be a business account if we determine, in our sole discretion, that the transaction activity address and volume is not for personal, family or household purposes. If we consider your account to be a business account, we reserve the right to charge your account the fees and charges applicable to businesses. We will notify you of any change in your account status. PERSONAL ACCOUNTS Any deposit account which is held or maintained primarily for personal, family or household purposes. A consumer account may be owned by one individual, jointly with other individuals, or in trust for (or for the benefit of) one or more individuals. We offer the following types of account ownership for individuals. Please note that your Last Will and Testament ("Last Will") may not control the disposition of funds held in some of these accounts. Individual The owner of the account is one individual. When the owner dies, ownership of funds in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will phone number shown on this agreement or by intestacy unless you have indicated a beneficiary by a "pay on death" instruction where permitted by law (see below). Joint Tenancy (with Right of Survivorship) The owners of the account are two or more individuals. All owners of the account have equal and undivided ownership in the whole account during their respective lifetimes. When an owner dies, the funds in the account belong to the surviving owner or owners automatically. Unless specifically indicated otherwise, each account held in joint tenancy is presumed to be held in joint tenancy with right of survivorship. A "pay on death" instruction may be added to this account where permitted by law (see below). Bank Account Trust (calling ▇-▇▇▇-▇▇▇-▇▇▇▇ Trust) When an account is opened with ownership showing one party twenty-four (24) hours a day, seven (7) days a week. You will not be liable for unauthorized transactions that occurs after you notify us of the "trustee") "…in trust for…" another party (the "beneficiary") and there is loss, theft, or possible unauthorized use. You will have no written trust agreementliability for unauthorized purchases made from your Account, unless you are found to be grossly negligent in the absence handling of your Card or Account. If you notify us properly and no gross negligence was found from your part, your liability will not exceed $50 and may be waived under the Visa agreement with your Card issuer. IMPORTANT INFORMATION REGARDING YOUR ACCOUNT – We may report information about your Account to credit reporting agencies, including a failure to pay us on time (late payments, missed payments or other factsdefaults). This applies to all parties liable for this Account. GOVERNING LAW – THE TERMS AND ENFORCEMENT OF THIS AGREEMENT AND YOUR ACCOUNT SHALL BE GOVERNED AND INTERPRETED IN ACCORDANCE WITH FEDERAL LAW AND, TO THE EXTENT STATE LAW APPLIES, THE LAW OF FLORIDA WHERE WE AND YOUR ACCOUNT ARE LOCATED, AND WILL APPLY NO MATTER WHERE YOU LIVE OR USE THE ACCOUNT. Special Rule for Credit Card Purchases – If you have a problem with the trustee (or trustees) is/are the owner(s) quality of the account property or services that you purchased with your card and you have tried in good faith to correct the beneficiary(ies) has no interest in problem with the account until merchant, you may have the trustee, or all of the trustees, dies. We will right not to pay the funds remaining amount due on the property or services. There are two (2) limitations on this right: a) You must have made the purchase in the account to the trustee during his or her lifetime or to the surviving trustee(s) if there is more than one trustee. When the last trustee dies, the balance in the account is paid to the surviving named beneficiary your home state or, if there is not within your home state, within 100 miles of your current mailing address; and b) The purchase price must have been more than one surviving beneficiary$50.00. These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services. Emerald Cash Rewards Visa® - Terms and Conditions – Cash rewards are based on the qualifying purchases you make and rewards are earned at tier levels as follows: Qualified Purchases Earned Rewards $0 to the beneficiaries in equal shares$5,000 0.5% $5,001 to $10,000 1.0% Over $10,000 1.5% A qualified purchase is a net retail purchase and does not include credits, unless we are otherwise instructed by the trustee in writing prior to the death returns or adjustments. Cash advances, gift card purchases, balance transfers, and purchase of the trustee or last surviving trustee. The trustee must keep us informed about each beneficiary's location. However, we monetary instruments are not responsible to notify beneficiaries of the existence of the account or death of the trustee eligible purchases and we may will not do so. Community Property (Available Where Allowed by Law) The owners of the account are married or are registered domestic partners under the law and each owner has an interest in the account. When one spouse or partner dies, ownership does not automatically pass to the surviving spouse or partner because the deceased spouse or partner can pass his or her interest by Last Will to someone elsecount towards cash rewards. To open a community property account be eligible for cash rewards, you must clearly indicate be registered for our e-Statement service and agree to receive your Accounts statements and future disclosures electronically. Earned cash rewards are calculated monthly and accrue each month throughout the year. You can see the monthly earned cash rewards amount and cumulative balance on your credit card billing statement each month. Cash rewards will not be earned or accrue for any month that you are delinquent on your payment for a period of 30 days or more. Cumulative earned cash rewards of $20 or more will be paid once a year during the account agreement that the account is held as "Community Property." Fiduciary month of November and deposited into your Savings (Trusts, Estates, Guardianships, etc.) Executors, administrators, conservators, personal representatives, guardians or trustees under written trust agreements, court orders or other documents may open accounts as fiduciaries. We may require and you shall provide evidence of the authority of such person or persons to act, such as a copy of the court order appointing the fiduciary, or a copy of the trust instrument, or portions of the trust instrument or appropriate trustee certification. This documentation will verify that the person or persons opening the account is or are the designated fiduciary, his or her powers, the provisions for succession and any unusual provisions. Pay-on-Death Instruction (Available Where Allowed by Law) Clients who maintain individual, joint tenancy or sole proprietorship accounts may designate a "pay-on-death" beneficiary or beneficiaries on a form provided by us. An individual or sole proprietorship account with such a beneficiary is owned by the individual or sole proprietor and upon the owner's death we will deliver the funds in the account to the beneficiary or beneficiaries. A joint tenancy account with such beneficiary or beneficiaries is owned by the joint tenants. Upon the death of one joint tenant, the surviving joint tenant or tenants own the account. Upon the death of the last surviving joint tenant, we will deliver the funds to the then designated surviving beneficiary or beneficiaries. Any joint tenant or surviving joint tenant may change a beneficiary at any time. If there is more than one beneficiary, we will pay the funds in the account to the beneficiaries in equal shares, unless we are otherwise instructed by the owner in writing prior to the owner's death or the death of the last surviving owner. Each owner must keep us informed about each beneficiary's location. However, we are not responsible to notify a beneficiary of the existence of the account or the death of the owner and we may not do so. A beneficiary may be an organization. Tenancy-in-Common All owners of the account have ownership in the account but the percentage of each owner's interest may vary. When an owner dies, that owner's interest in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy. The surviving owners are not entitled to the deceased owner's share by reason of the account ownership. To open a tenancy-in- common account you must clearly indicate on the account agreement that the account is held as "Tenants-in-Common." Transfers to MinorsS1)
Appears in 1 contract
Sources: Visa Credit Card Agreement
Telephone Monitoring and Recording. When you or someone on your behalf provides us a telephone number or calls us, you authorize us to call you at that number, and to monitor and to record telephone and other electronic communications the caller has with us and with our representatives for business purposes, including security and quality assurance. The caller may hear a beep tone when a call is being recorded or, if there is no beep tone, the caller may be asked, in advance, for consent to record the telephone conversation or told the call is being recorded. By continuing the telephone call after hearing the beep tone or being otherwise notified, the caller agrees to our right to record the telephone conversation. We may retain any telephone recording for such time as we shall determine but we shall have no liability to you if we do not retain the recording. INSTRUCTIONS RECEIVED BY FACSIMILE OR ELECTRONIC MAIL (EMAIL) OR ON TELEPHONE ANSWERING MACHINES We are not required to act upon instructions received by facsimile, electronic mail or on a telephone answering machine and shall not be liable or responsible to you for our failure to act on any such instruction unless we otherwise specifically agree in writing. In the event we do act on any such instruction received from you or from an authorized person acting on your behalf, you shall be bound by the instruction. An instruction received by facsimile shall not be deemed received until the instruction is actually received and reviewed by our employee or agent responsible to carry out the instruction. An instruction received by electronic mail shall not be deemed received until the instruction is actually opened and reviewed by the addressee. An instruction received on a telephone answering machine shall not be deemed received until the instruction is actually reviewed by our employee or agent responsible to carry out the instruction. ACCOUNT TYPES & OWNERSHIP BUSINESS ACCOUNTS Any deposit account which is not held or maintained primarily for personal, family or household purposes. A business account is available to business entities, including corporations, professional corporations, limited partnerships, general partnerships, limited liability partnerships, sole ownership businesses (sole proprietorships), limited liability companies, professional limited liability companies, charitable organizations, embassies, consulates and diplomatic missions, statutory trusts, unincorporated associations of persons, public agencies and foreign business entities. For a business account, each person signing the Business Account Agreement represents and warrants that they are fully authorized to execute all documents on behalf of the business and have provided evidence of such authority acceptable to us. Please note we note: We may refuse to recognize any resolution affecting the account that is not on our form or that appears incomplete or improper. We consider your account to be a business account if you tell us it is at the time you establish the account with us or at any later time. We may also consider your account to be a business account if we determine, in our sole discretion, that the transaction activity and volume is not for personal, family or household purposes. If we consider your account to be a business account, we reserve the right to charge your account the fees and charges applicable to businesses. We will notify you of any change in your account status. PERSONAL ACCOUNTS Any deposit account which is held or maintained primarily for personal, family or household purposes. A consumer account may be owned by one individual, jointly with other individuals, or in trust for (or for the benefit of) one or more individuals. We offer the following types of account ownership for individuals. Please note that your note: Your Last Will and Testament ("Last Will") may not control the disposition of funds held in some of these accounts. Individual The owner of the account is one individual. When the owner dies, ownership of funds in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy unless you have indicated a beneficiary by a "pay on death" instruction where permitted by law (see below). Joint Tenancy (with Right of Survivorship) The owners of the account are two or more individuals. All owners of the account have equal and undivided ownership in the whole account during their respective lifetimes. When an owner dies, the funds in the account belong to the surviving owner or owners automatically. Unless specifically indicated otherwise, each account held in joint tenancy is presumed to be held in joint tenancy with right of survivorship. A "pay on death" instruction may be added to this account where permitted by law (see below). Bank Account Trust (▇▇▇▇▇▇ Trust) When an account is opened with ownership showing one party (the "trustee") "…in trust for…" another party (the "beneficiary") and there is no written trust agreement, in the absence of other facts, the trustee (or trustees) is/are the owner(s) of the account and the beneficiary(ies) has no interest in the account until the trustee, or all of the trustees, dies. We will pay the funds in the account to the trustee during his or her lifetime or to the surviving trustee(s) if there is more than one trustee. When the last trustee dies, the balance in the account is paid to the surviving named beneficiary or, if there is more than one surviving beneficiary, to the beneficiaries in equal shares, unless we are otherwise instructed by the trustee in writing prior to the death of the trustee or last surviving trustee. The trustee must keep us informed about each beneficiary's location. However, we are not responsible to notify beneficiaries of the existence of the account or death of the trustee and we may not do so. Community Property (Available Where Allowed by Law) The owners of the account are married or are registered domestic partners under the law and each owner has an interest in the account. When one spouse or partner dies, ownership does not automatically pass to the surviving spouse or partner because the deceased spouse or partner can pass his or her interest by Last Will to someone else. To open a community property account you must clearly indicate on the account agreement that the account is held as "Community Property." Fiduciary (Trusts, Estates, Guardianships, etc.) Executors, administrators, conservators, personal representatives, guardians or trustees under written trust agreements, court orders or other documents may open accounts as fiduciaries. We may require and you shall provide evidence of the authority of such person or persons to act, such as a copy of the court order appointing the fiduciary, or a copy of the trust instrument, or portions of the trust instrument or appropriate trustee certification. This documentation will verify that the person or persons opening the account is or are the designated fiduciary, his or her powers, the provisions for succession and any unusual provisions. Pay-on-Death Instruction (Available Where Allowed by Law) Clients who maintain individual, joint tenancy or sole proprietorship accounts may designate a "pay-on-death" beneficiary or beneficiaries on a form provided by us. An individual or sole proprietorship account with such a beneficiary is owned by the individual or sole proprietor and upon the owner's death we will deliver the funds in the account to the beneficiary or beneficiaries. A joint tenancy account with such beneficiary or beneficiaries is owned by the joint tenants. Upon the death of one joint tenant, the surviving joint tenant or tenants own the account. Upon the death of the last surviving joint tenant, we will deliver the funds to the then designated surviving beneficiary or beneficiaries. Any joint tenant or surviving joint tenant may change a beneficiary at any time. If there is more than one beneficiary, we will pay the funds in the account to the beneficiaries in equal shares, unless we are otherwise instructed by the owner in writing prior to the owner's death or the death of the last surviving owner. Each owner must keep us informed about each beneficiary's location. However, we are not responsible to notify a beneficiary of the existence of the account or the death of the owner and we may not do so. A beneficiary may be an organization. Tenancy-in-Common All owners of the account have ownership in the account but the percentage of each owner's interest may vary. When an owner dies, that owner's interest in the account passes as part of the owner's estate to the owner's successor in interest under the owner's Last Will or by intestacy. The surviving owners are not entitled to the deceased owner's share by reason of the account ownership. To open a tenancy-in- common account you must clearly indicate on the account agreement that the account is held as "Tenants-in-Common." Transfers to Minors
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Sources: Deposit Account Agreement