PENALTIES FOR EARLY WITHDRAWAL
Term of 12 months or less - lesser of 90 days interest or all earned interest from date of issuance. Term of more than 12 months - lesser of 180 days interest or all earned interest from date of issuance.
The Minimum balance for monthly interest check is $10,000. Interest is earned daily and paid monthly by check or added to balance and Seven (7) day grace period. A substantial penalty for early withdrawal may be imposed.
Fireside Bank
Deposit Account Agreement and Disclosure
Welcome to Fireside Bank. In this agreement, “we” refers to Fireside Bank, and “you” refers to the owners and authorized signers of an account. This agreement, your signature card, New Account Receipt, Rate Sheet, and Fireside’s Privacy Policy (collectively, your “Agreement”) contain the terms that govern your account. You agree to the terms of the Agreement and acknowledge receiving a copy of the Agreement.
Our Relationship. Unless otherwise expressly agreed in writing, no fiduciary, quasi-fiduciary or other special relationship exists between you and us. We owe you a duty of ordinary care.
Identification. To help the government fight the funding of terrorism and money laundering activities, federal law requires us to obtain, verify, and record information that identifies each person who opens an account. When you apply for an account, we will ask for information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
Eligible Customers. Each account owner must be a U.S. resident. Deposits are only accepted from lawful U.S. residents (this includes resident aliens) who have obtained an IRS individual taxpayer identification number (TIN or ITIN).
ACH Provisional Credits. Credit for an automated clearing house (“ACH”) transfer is provisional until final payment is received by the payee’s financial institution. Until that happens, the party originating the transfer is not deemed to have made payment to the beneficiary, and the payee’s bank is entitled to a refund of the provisional credit. If we give you provisional credit for an ACH transfer, but do not receive final payment, you become obligated to us for the full amount without prior notice or demand.
California Law. Except as otherwise provided in this agreement, California law will govern your account and the interpretation of this Agreement.
Changes to the Agreement. We may add new terms and conditions to the Agreement and may delete or amend existing terms and conditions by providing you with prior notice.
Conflicting Demands/Disputes. If there is any uncertainty or conflicting demands regarding the ownership of an account or its funds, we are unable to determine any person’s authority to give us instructions, we are requested by Adult Protective Services or any similar state or local agency to freeze the account or reject a transaction due to the suspected financial abuse of an elder or dependent adult, or we believe a transaction may be fraudulent or may violate any law, we may, at our sole discretion: (1) freeze the account and refuse transactions until we receive written proof (in form and substance satisfactory to us) of each person’s right and authority over the account and its funds; (2) require all of your signatures for the withdrawal of funds, the closing of an account, or any change in the account regardless of the number of authorized signers on the account; (3) request instructions from a court of competent jurisdiction at your expense regarding the account or transaction; and/or (4) continue to honor instructions given to us by persons who appear as authorized signers according to our records. The existence of the rights set forth above shall not impose an obligation on us to assert such rights or to deny a transaction.
Consent to Gather Information. Each of you authorizes us to obtain information from time to time regarding your credit history from credit reporting agencies and other third parties.
Disputes. If a dispute involving $25,000 or more arises between us with respect to this Agreement, its enforcement or our services, either of us may require that it be resolved by judicial reference in accordance with California Code of Civil Procedure, Sections 638, et seq. The referee shall be a retired judge, agreed upon by the parties, from either the American Arbitration Association (AAA) or Judicial Arbitration and Mediation Service, Inc. (JAMS). If you and we cannot agree on the referee, the party who initially selected the reference procedure shall request a panel of ten retired judges from either AAA or JAMS, and the court shall select the referee from that panel. The costs of the reference procedure, including the fee for the court reporter, shall be borne equally by all parties as the costs are incurred. The referee shall hear all pre-trial and post-trial matters, including requests for equitable relief; prepare an award with written findings of fact and conclusions of law; and apportion costs as appropriate. Judgment upon the award shall be entered in the court in which such proceeding was commenced and all parties shall have full rights of appeal. This provision will not be deemed to limit or constrain our right to set off, to obtain provisional or ancillary remedies, to interplead funds in the event of a dispute, to exercise any security interest or lien we may hold in property, or to comply with legal process involving your accounts or other property. Venue for any action brought in accordance with this provision shall be in the State of California.
Dormant Accounts. Your account may escheat (be turned over) to the state if, for more than three years, you do not: (1) increase or decrease the amount of money in the account, (2) correspond in writing with us about your account, or (3) otherwise indicate an interest in your account as evidenced by a memorandum or other record in our files. If your account escheats, you can contact the state for the return of your funds.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California.
Legal Process. We may comply with any writ of attachment, execution, garnishment, tax levy, restraining order, subpoena, warrant or other legal process which we believe (correctly or otherwise) to be valid. We may notify you of such process by telephone, electronically or in writing. If we are not fully reimbursed for our record research, photocopying and handling costs by the party that served the process, we may charge such costs to your account, in addition to our minimum legal process fee. You agree to reimburse us for any cost or expense, including attorney fees, which we incur in responding to legal process related to your accounts.
Limitations on Deposit. We may refuse to accept a deposit or an addition to an account, limit its size, or return all or part of it to you, with or without cause.
Limitation on Time to Sue. Unless otherwise required by law, an action or proceeding by you to enforce an obligation, duty or right arising under the Agreement or by law with respect to your account or any account service must be commenced within one year after the cause of action accrues.
Notices. You agree to notify us in writing if any of you dies or is declared incompetent by a court. You also agree to notify us in writing if your name or address changes. Unless we advise you otherwise, notices to us must be sent to your branch of account. We may send notices to you at the last address we have on file for you or your account. Statements and notices sent to any of you are deemed to be received by all of you. If we hold a statement or notice at your direction or because you fail to provide us with a current address, they will be deemed delivered to you when they are prepared (for held statements), mailed (for returned mail) or otherwise made available to you.
Power of Attorney. We are not required to honor a Power of Attorney until we have had a reasonable opportunity to review and approve it. We may refuse to comply with a Power of Attorney until we receive an affidavit from the agent stating that, to the best of the agent’s knowledge, the principal is alive and that the powers of the agent have not been altered or terminated. We do not provide Power of Attorney forms.
Returned Items. If we are notified that an item you deposited is being returned unpaid, we may attempt to reclear the item, place a hold on the funds in question, or charge your account for the amount (and any interest earned on it), whether or not the return or notice of non-payment is proper or timely.
Transferability. You may not transfer or assign your account to others without our prior written consent.
Waivers. We may delay enforcing our rights under the Agreement without losing them. Any waiver by us shall not be deemed a waiver of other rights or of the same right at another time.
Your Certificate of Deposit
Annual Percentage Yield. The annual percentage yield ("APY") for your account assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Accrual and Payment of Interest. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest is payable monthly, quarterly, semi-annually, annually or at maturity. Interest is paid through the day prior to withdrawal. No interest will be paid for the day of withdrawal.
Interest Calculation. We use the average-daily-balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. To compute interest, take the average daily balance multiplied by the interest rate multiplied by the number of days in the period, and divide by 365. Interest rates are determined by us in our sole discretion based on market conditions and other business factors. We reserve the right to change interest rates offered on new accounts or upon the renewal of renewable term accounts. All deposit accounts offered by us are fixed rate accounts and earn the same rate of interest through their maturity.
Renewable Accounts. At maturity, certain CD accounts will automatically renew for a new term at the rate then in effect for accounts of the same type, amount and duration. They will continue to renew automatically until withdrawn by you. If we elect not to permit the renewal of an automatically renewable account, we will notify you in advance. Unless specifically stated otherwise, any bonus or special promotion we are offering will not apply to automatically renewing time deposits.
Grace Period. For renewable term accounts, you will have a grace period of seven calendar days to add funds to, or withdraw funds from, your account without incurring an early withdrawal penalty. Interest will be earned during the grace period at the renewal rate. Term accounts that do not expressly provide for automatic renewal are non-renewable and will not continue to earn interest after maturity.
Closing Accounts. We may close a renewable account at maturity by providing you with advance written notice. Closed accounts do not earn interest after maturity.
Early Withdrawals. You are agreeing to keep funds on deposit for a fixed period of time. Unless otherwise provided, partial withdrawals and additional deposits are not permitted. At our discretion, we may allow withdrawals of all or part of the funds from an account prior to the maturity date. Early withdrawals, other than during any grace period for the account, may be subject to substantial penalties. Withdrawals may be made without penalty following the death of any owner or when any owner is determined to be legally incompetent by a court or other appropriate administrative body.
Corporate Accounts. Corporate account interest rates may differ from our retail rates. The minimum term is 270 days, and there is no grace period. Funds are accepted by wire only, and certificates do not automatically renew at maturity. No interest is earned after maturity. Corporate accounts may be opened only at our Main Office.
Electronic Transfers of Interest
The following terms apply if you instruct us to make regular recurring transfers of interest from a consumer account to an account with another institution.
Account Statements. You will get a monthly account statement that shows each transfer of interest.
Our Liability for Failing to Make Transfers. If we do not complete an electronic fund transfer from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. There are some exceptions, however. We will not be liable, for instance, if:
- Circumstances beyond our control (such as fire, flood, water damage, power failure, strike, labor dispute, computer breakdown, telephone line disruption or a natural disaster) or a rolling blackout prevent or delay the transfer despite reasonable precautions taken by us;
- The funds in your account are subject to legal process or are otherwise not available for withdrawal;
- The information supplied by you or a third party is incorrect, incomplete, ambiguous or untimely; or
- We have reason to believe the transaction may not be authorized by you.
There may be other exceptions stated in your account agreement with us.
How to Stop Preauthorized Transfers from Your Account. If you tell us to make preauthorized transfers of interest from your account, you can stop any of these transfers by calling us at 800-933-2323 or writing to us at Fireside Bank, Deposit Services Department, P.O. Box 9010, Pleasanton, CA 94566-9878. We must receive your request at least three business days before the transfer is scheduled to be made. If you call, we may require you to put your request in writing to us within 14 days after you call. If you order us to stop one of these transfers at least three business days before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
In Case of Errors or Questions about Your Electronic Transfers. Call us at the number or write us at the address described above 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 sent 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.
(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 that 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.
We will tell you the results within three 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.
Business Days. Our business days are Monday through Friday, excluding holidays.
Privacy. We may release information about you, your accounts and the transactions you perform to third parties where it is necessary or helpful in verifying or completing a transaction, when you give us your consent, or as permitted by law. Please see our Privacy Policy for further details.
Rev. 10/2008