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Foresight Bank
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Deposit Account Agreement

1. AGREEMENT. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so that the singular includes the plural and the plural includes the singular. As used in this form, the words “Bank”, “we”, “our,” or “us” refer to the Foresight Bank, and the words “you” or “your” refer to the account holder(s).
     This agreement is subject to state and federal law, including the Uniform Commercial Code, the rules, regulations and orders of the Federal Reserve Board, and the rules, regulations and orders of any Federal Reserve Bank or clearinghouse of which the Bank is or may become a member.
     The purpose of this agreement is to (A) summarize the rules applicable to the more common transactions, (B) establish rules to govern transactions or circumstances that the law does not regulate, and (C) establish rules for certain events or transactions that the law already regulates but permits variation by agreement.
     We may permit some variations from this standard agreement, but any such variations must be agreed to by us in writing, either on our signature card for the account or in some other written form.
2. MODIFICATIONS. We may change the terms of this agreement by giving you notice of the change either by posting notice in a conspicuous manner for 30 days, mailing the notice to you at the address in the our records, or enclosing notice of the change to you with any periodic statement. Notice from us to any one of you is notice to all of you. However, if any agency that governs or otherwise regulates us requires us to change any term of this agreement or an interest rate on any account without giving any notice, we may do so without any liability to us. Unless otherwise agreed in writing, we may change the interest rate(s) paid on your account without any advance notice.
3. TERMINATION. We may close this account at any time upon reasonable notice to you and tender the account balance to you personally or by mail. Notice from us to any one of you is notice to all of you. Termination will not release your obligations under the account, including liability for outstanding items, fees, and costs.
4. ACCOUNT TRANSFER. This account may not be transferred or assigned without our prior written consent.
5. LIABILITY. Each of you agrees, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this agreement and the schedule of charges that may be imposed. You authorize us to deduct these charges directly from the account balance as accrued. You also agree to pay such additional reasonable charges we may impose for services you request that are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, together with the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys’ fees.
6. LEGAL EXPENSES. You will be responsible for all fees and expenses (including our internal expenses we incur in responding to legal actions against this account, such as garnishments, executions, tax levies or forfeitures). We may charge these expenses and fees against this account.
7. SECURITY AGREEMENT. You give us a security interest and lien on all funds in this account to secure your performance of this agreement.
8. OVERDRAFTS. You agree to repay us promptly if you overdraw your account.
9. SETOFF. You understand that we have the right of “setoff.” This means that we may charge against any amount then on deposit in any of your accounts (including savings certificates), any debts or liabilities you owe to us, whether due by reason of stated maturity, acceleration, or otherwise. Such debts or liabilities include debts either secured or unsecured that you owe individually or together with someone else. If there is more than one customer on the account, we may apply our right of setoff to fully or partially satisfy the debts and liabilities of any of the account holders.
     We may exercise our right of setoff at any time and for any reason allowed by law. For example, we may exercise our right of setoff if you die, file for bankruptcy, or we believe in good faith that you are not able or willing to live up to your obligations to us. We may consider this agreement as your consent to exercise our right of setoff should any present or future law require your consent.
10. STATEMENTS. You must inform us of an unauthorized signature or alteration on an item within 60 days after we send or make your statement and items available to you. If you do not, you lose any claim you may have against us due to the unauthorized signature or alteration. You also lose any claim against us on any later item paid after the 60-day period runs but before we receive notice if the item was signed or altered by the same wrongdoer. You must inform us of any other sort of account problem within 60 days of when we make the statement and items available to you or you will lose any claim against us related to the problem.
11. DEPOSITS. Any items, other than cash, accepted for deposit (including items drawn “on us”) will be given provisional credit only until collection of the item is final (and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars). Subject to any other limitations, interest will be paid only on collected funds, unless otherwise provided by law. We are not responsible for transactions initiated by mail or outside the bank until we actually record them. All transactions received after our daily “cut-off time” on a business day we are open, or received on a day in which we are not
open for business, will be treated and recorded as if initiated on the next following business day that we are open.
12. WITHDRAWALS. Any one of you, including authorized signers, may withdraw or transfer all or any part of the account balance at any time on forms approved by us.
     We reserve the right to refuse any withdrawal or transfer request that is attempted by any method not specifically permitted, which is greater in number than the frequency permitted, or which is for an amount less than any minimum withdrawal denomination. Even if we honor a non-conforming request, repeated abuse of the stated limitations (if any) may eventually force us to close your account. We will use the date a transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds even if our general practice is to the contrary. The fact that we may honor withdrawal requests that overdraw the finally collected account balance does not obligate us to do so, unless required by law.
     If you have an interest-bearing account, we have the right to require that you give us written notice of any intended transfer or withdrawal from the account not less than 7 days before you make the transfer or withdrawal. The number of certain types of withdrawals or transfers that can be made from a savings or money market deposit account also may be limited.
     When we receive notice of the death or incompetence of any one of the account owners, we may restrict or prohibit further withdrawals until we are satisfied that our obligations under the law and this agreement have been satisfied.
13. PREAUTHORIZED CHECKS. If you voluntarily give information about your account (such as our routing number and your account number) to a
party who is seeking to sell you goods or services, and you do not physically deliver a check to the party, any debit to your account initiated by the party to whom you gave the information is deemed authorized.
14. COLLECTION OF CHECKS, FUNDS AVAILABILITY. You cannot withdraw funds that you deposit, and we will not use those funds to cover checks that you write, until the funds are available. We have given you a separate disclosure to keep, telling you when the funds you deposit will be available.
     You understand that we have the right to charge checks against your account at any time after we learn they have not been paid. We may do this even if you have made withdrawals against those deposited checks. In cashing, receiving or otherwise dealing with checks you deposit, we are acting as your agent. We have no responsibility to you beyond our duty to use reasonable care in acting as your agent.
15. PAYMENT OF CHECKS. In paying a check, we may disregard special instructions or extraneous legends on the check, such as “void in excess of $500” or “void if not paid within 60 days,” unless you have notified us of such special instructions or legends and we have agreed in writing to honor such special instructions or legends. We may also disregard the requirement for more than one signature if at least one authorized signature appears on the check, unless we have otherwise
agreed in writing.
     We may pay a check on a date before the date written on the check. We also may pay a check that is more than 6 months old. We have no liability for paying such checks before the date written or after 6 months, even if the payment of them causes other checks not to be paid.
16. STOP PAYMENTS. You may stop payment on any check, provided that we receive the stop payment order in a manner and at a time that gives us a reasonable opportunity to act. To stop payment, you must provide us with your name, account number, payee’s name, the check number, and the exact amount of the check. If you tell us to stop payment on the telephone, we will keep the order in effect for 14 days. For the order to last longer than 14 days, you must deliver to us within
the 14 days a written order on the form required by us. That written order will be in effect for 6 months.
17. TELEPHONE TRANSFERS. A transfer of funds from this account to another account with us, by telephone, if otherwise permitted or arranged for, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. The number of transfers from savings accounts and money market accounts to other accounts and third parties is restricted to a maximum of six per month (less the number of certain “pre-authorized transfers” during the month). Other account transfer restrictions are shown elsewhere in this form.
18. AUTOMATED CLEARING HOUSE (ACH) AND WIRE TRANSFERS. This agreement is subject to Article 4A of the Uniform Commercial Code as adopted in Minnesota. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person, or account other than the one named. You agree to be bound by Automated Clearing House Association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.
19. DIRECT DEPOSITS. If, in connection with a direct deposit plan, we deposit any amount in this account that should have been returned to the Federal Government or any state government for any reason, you authorize us to deduct the amount of our liability to the Federal Government or state government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
20. DORMANT ACCOUNTS. If your account does not have any withdrawal or deposit activity (other than posting interest or any account fees) for a period of 12 months (for checking accounts) or 36 months (for savings accounts), and it has a balance less than $100.00, a fee of $3.00 per statement cycle will be charged to your account.
21. JOINT ACCOUNT WITH SURVIVORSHIP. Unless specifically stated otherwise on our signature card for this account, when an account is issued to two or more persons, each joint tenant intends and agrees that the account balance upon his death shall be the property of the surviving joint tenant, and if more than one survives, they shall remain as joint tenants with the right of survivorship between them. This type of account ownership is known as joint tenants with right of survivorship, and not as tenants in common.

22. JOINT ACCOUNT WITHOUT SURVIVORSHIP (TENANTS IN COMMON). If an account is issued to two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person, then the account will be owned jointly as tenants in common. An account will have tenants in common ownership only if the signature card clearly states that the account is owned jointly as tenants in common. We encourage you to agree and tell us in
writing of the percentage of the deposit contributed by each of you. This information will not, however, affect the “number of signatures” necessary for

23. JOINT ACCOUNT. On joint accounts (whether owned as joint tenants with right of survivorship or as tenants in common), we may accept withdrawal or other requests from any one of the joint tenants. Each joint tenant is responsible for each account transaction, regardless of which joint tenant performs the transaction. We may accept for deposit checks made out to all joint tenants even if only one of the joint tenants has endorsed it. All joint tenants agree that if one of them owes us money, we may apply our setoff rights against the entire amount in the joint account to pay off the debt, regardless of how much was contributed by each joint account holder. If the account balance drops below zero (for example, by an overdraft, the assessment of fees, or withdrawals against
uncollected funds) each tenant agrees to be individually and jointly liable to us, regardless of which joint tenant caused this negative balance to happen. Notice from us to any one of you is notice to all of you.
24. REVOCABLE TRUST AND PAYABLE-ON-DEATH ACCOUNTS. If two or more of you create a revocable trust or a payable-on-death account, you own the account jointly with survivorship. Payableon- death beneficiaries acquire the right to withdraw only if (A) all account owners die, and (B) the beneficiary is living at the time of the last surviving account owner's death. If two or more beneficiaries are named and survive the death of all account owners, such beneficiaries will own this account (without right of survivorship) according to any percentages indicated in the written records of the bank. If beneficiary percentages are not indicated in the written records of the bank, the surviving beneficiaries will own equal shares, without right of survivorship. The person(s) creating either of these account types reserve(s) the right to change beneficiaries, change account types, and withdraw all or part of the deposit at any time.
25. ORGANIZATION ACCOUNTS. We will usually require a separate authorization form designating the person(s) permitted and conditions required for withdrawal from any account in the name of a legal entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in a separate written authorization delivered to us.
26. FACSIMILE SIGNATURE. We may pay any checks bearing or purporting to bear a facsimile signature of any authorized signer, regardless of by whom or by what means the actual or purported facsimile signature thereon may have been affixed on the check, if such facsimile signature resembles the facsimile signature filed with us from time to time by you.
27. AUTHORIZED SIGNERS. An authorized signer is someone to whom you give all rights you have now or in the future to make withdrawals and deposits. Merely by designating an authorized signer you do not intend to give any ownership rights in the account.