Terms and Conditions of Your Business Checking Account

Updated May 2020

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Terms & Conditions

Important Information About Procedures for Opening a New Account
Agreement
Copy of this Agreement
Liability
Deposits
Withdrawals
Understanding and Avoiding Overdraft and Nonsufficient Funds (NSF) Fees  
Business, Organization and Association Accounts
Stop Payments
ACH Stop Payments
Telephone Transfers
Amendments and Termination
Notices
Statements
Account Transfer
Direct Deposits
Temporary Account Agreement
Setoff 
Restrictive Legends or Indorsements
Facsimile/Electronic Signatures
Check Processing
Check Cashing
Indorsements
Stale-Dated Checks
Death or Incompetence
Fiduciary Accounts
Credit Verification
Legal Actions Affecting Your Account
Account Security
Telephonic Instructions
Monitoring and Recording Telephone Calls and Consent to Receive Communications
Claim of Loss
Early Withdrawal Penalties
Address or Name Changes
Resolving Account Disputes
Waiver of Notices
ACH and Wire Transfers
Truncation, Substitute Checks, and Other Check Images
Remotely Created Checks
Unlawful Internet Gambling Notice 
Funds Transfers
Subaccount Organization

 

Important Information About Procedures for Opening a New Account 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 person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.

This agreement is subject to applicable federal laws, the laws of the state of Colorado and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

  1. summarize some laws that apply to common transactions;
  2. establish rules to cover transactions or events which the law does not regulate;
  3. establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
  4. give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document. Nothing in this document is intended to vary our duty to act in good faith and with ordinary care when required by law.

As used in this document the words "we," "our," and "us" mean the financial institution and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

COPY OF THIS AGREEMENT - You acknowledge and agree that we may destroy this original account agreement once the agreement has been electronically archived. A copy of this agreement maintained in our record-keeping system may be used for any purpose and shall be legally binding to the same extent as the original.

LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and we can deduct any amounts deposited into the account and apply those amounts to the shortage. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.

You will be liable for our costs as well as for our reasonable attorneys' fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs and attorneys' fees can be deducted from your account when they are incurred, without notice to you.

If you provide account information that facilitates creation of a check that is presented to us without signature, you are liable for payment of the check. Thus 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 don't 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. You agree to indemnify us from any claim against or loss incurred by us as a result of any demand draft or remotely created check drawn on or deposited into your account. This indemnity includes reasonable attorney fees incurred by us.

DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us"). Before settlement of any item becomes final, we act only as your agent, regardless of the form of indorsement or lack of indorsement on the item and even though we provide you provisional credit for the item. We may reverse any provisional credit for items that are lost, stolen, or returned. Unless prohibited by law, we also reserve the right to charge back to your account the amount of any item deposited to your account or cashed for you which was initially paid by the payor bank and which is later returned to us due to an allegedly forged, unauthorized or missing indorsement, claim of alteration, encoding error, counterfeit cashier's check or other problem which in our judgment justifies reversal of credit. You authorize us to attempt to collect previously returned items without giving you notice, and in attempting to collect we may permit the payor bank to hold an item beyond the midnight deadline. 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. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. If we accept a third-party check or draft for deposit, we may require any third-party indorsers to verify or guarantee their indorsements, or indorse in our presence.

WITHDRAWALS -

Generally - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to indorse any item payable to you or your order for deposit to this account or any other transaction with us.

Postdated checks - A postdated check is one which bears a date later than the date on which the check is written. We may properly pay and charge your account for a postdated check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. Because we process checks mechanically, your notice will not be effective and we will not be liable for failing to honor your notice unless it precisely identifies the number, date, amount and payee of the item.

Checks and withdrawal rules - We may refuse any withdrawal or transfer request which you attempt on forms not approved by us or by any method we do not specifically permit. We may refuse any withdrawal or transfer request which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. In addition, we may place limitations on the account until your identity is verified.

Even if we honor a nonconforming request, we are not required to do so later. If you violate the stated transaction limitations (if any), in our discretion we may close your account or reclassify it as a transaction account. If we reclassify your account, your account will be subject to the fees and earnings rules of the new account classification.

If we are presented with an item drawn against your account that would be a "substitute check," as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item.

See the funds availability policy, the section titled Your Ability to Withdraw Funds, for information about when you can withdraw funds you deposit. 

Cash withdrawals - We recommend you take care when making large cash withdrawals because carrying large amounts of cash may pose a danger to your personal safety. As an alternative to making a large cash withdrawal, you may want to consider a cashier's check or similar instrument. You assume full responsibility of any loss in the event the cash you withdraw is lost, stolen, or destroyed. You agree to hold us harmless from any loss you incur as a result of your decision to withdraw funds in the form of cash.

Multiple signatures, electronic check conversion, and similar transactions - An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the signatures or otherwise examine the original check or item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures.

Notice of withdrawal - We reserve the right to require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.

UNDERSTANDING AND AVOIDING OVERDRAFT AND NONSUFFICIENT FUNDS (NSF) FEES -

Generally - The information in this section is being provided to help you understand what happens if your account is overdrawn. Understanding the concepts of overdrafts and nonsufficient funds (NSF) is important and can help you avoid being assessed fees or charges.

An overdrawn account will typically result in you being charged an overdraft fee or an NSF fee. Generally, an overdraft occurs when there is not enough money in your account to pay for a transaction, but we pay (or cover) the transaction anyway. An NSF transaction is slightly different. In an NSF transaction, we do not cover the transaction. Instead, the transaction is rejected and the item or requested payment is returned. In either situation, we can charge you a fee.

If you use our Overdraft Privilege product and we cover a transaction for which there is not enough money in your account to pay, we will consider that an overdraft. We treat all other transactions for which there is not enough money in your account as an NSF transaction, regardless of whether we cover the transaction or the transaction is rejected.

Determining your available balance - We use the "available balance" method to determine whether your account is overdrawn, that is, whether there is enough money in your account to pay for a transaction. Importantly, your "available" balance may not be the same as your account's "current" balance. Available balance can include memo posts throughout the day. This means an overdraft or an NSF transaction could occur regardless of your account's actual balance.

Your account's current balance (sometimes called the ledger or actual balance) only includes transactions that have settled up to that point in time, that is, transactions (deposits and payments) that have posted to your account. The actual balance does not include outstanding transactions (such as checks that have not yet cleared and electronic transactions that have been authorized but which are still pending). The balance on your periodic statement is the ledger balance for your account as of the statement date.

As the name implies, your available balance is calculated based on the money "available" in your account to make payments. In other words, the available balance takes transactions that have been authorized, but not yet settled, and subtracts them from the actual balance. In addition, when calculating your available balance, any "holds" placed on deposits that have not yet cleared are also subtracted from the actual balance. For more information on how holds placed on funds in your account can impact your available balance, read the subsection titled "A temporary debit authorization hold affects your account balance."

Alpine Bank offers other products and services to help meet your financial needs. Review each product or service terms and conditions independently, as definitions, such as available balance, may differ between them.

Overdrafts - You understand that we may, at our discretion, honor withdrawal requests that overdraw your account. However, the fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts on your account regardless of how frequently or under what circumstances we have paid overdrafts on your account in the past. We can change our practice of paying, or not paying, discretionary overdrafts on your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line-of-credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service. (A one-time debit card transaction is a transaction where you use a debit card at a point-of-sale, in an on-line transaction, or in a telephone transaction. The transaction has to be made with a debit card issued by or on behalf of the account-holding institution.) We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.

Nonsufficient funds (NSF) fees - If an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account, and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

Payment types - Some, but not necessarily all, of the ways you can access the funds in your account include debit card transactions, automated clearing house (ACH) transactions, and check transactions. All these payment types can use different processing systems and some may take more or less time to post. This information is important for a number of reasons. For example, keeping track of the checks you write and the timing of the preauthorized payments you set up will help you to know what other transactions might still post against your account. For information about how and when we process these different payment types, see the "Payment order of items" subsection below.

Balance information - Keeping track of your balance is important. You can review your balance in a number of ways including reviewing your periodic statement, reviewing your balance online, accessing your account information by phone, or coming into one of our branches.

Funds availability - Knowing when funds you deposit into your checking account will be made available for withdrawal is another important concept that can help you avoid being assessed fees or charges. Refer to the funds availability policy, the section titled Your Ability to Withdraw Funds, for information on when different types of deposits will be made available for withdrawal. For those accounts to which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal. An item may be returned after the funds from the deposit of that item are made available for withdrawal. In that case, we will reverse the credit of the item. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the times we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.

A temporary debit authorization hold affects your available balance - On debit card purchases, merchants may request a temporary hold on your account for a specified sum of money when the merchant does not know the exact amount of the purchase at the time the card is authorized. The amount of the temporary hold may be more than the actual amount of your purchase. Some common transactions where this occurs involve purchases of gasoline, hotel rooms, or meals at restaurants. When this happens, our processing system cannot determine that the amount of the hold exceeds the actual amount of your purchase. This temporary hold, and the amount charged to your account, will eventually be adjusted to the actual amount of your purchase, but it could be three calendar days, or even longer in some cases, before the adjustment is made.

Payment order of items - The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items.

Payment order on DDA & Savings accounts - Credits/deposits (Items being added to your balance) are always posted first in the account. Debits (item being deducted from your balance) generally will post in the following order: The list provided does not include all possible debit items, but rather a broad overview of common transactions. Alpine Bank will clear each item within these stated categories before proceeding to the next category.

  • Common Fees - For example, an NSF Returned Item fee, a non-Alpine/non-Allpoint ATM fee, a Chargeback item fee, or an account service fee;
  • Automatic Clearing Housing (ACH) - Electronic payments that are made directly from your Alpine account to: other financial institutions; payment services, such as PayPal and; other businesses;
  • ATM withdrawals;
  • Point of Sale (POS) or One-time Debit Card Transactions - Everyday transactions usually made with a merchant using a debit card;
  • Telephone Transfers - Transfers you have initiated by telephone between your Alpine accounts;
  • Transfers between your Alpine accounts;
  • Checks - Generally post based on sequential check number order received, lowest to highest; and
  • NSF Paid Item fees - Collect and post last.

If you have two items within the same categories as indicated above generally those items will post based on serial number (low to high); if those items within the stated category lack a serial number, the items will then post in a predetermined numeric order by category, if more than one item falls in the same category then it will post smallest dollar amount to the largest dollar amount.

If a check, item or transaction is presented without sufficient funds in your account to pay it, you will be charged an NSF or overdraft fee according to our NSF or overdraft fee policy, detailed in the Overdraft Privilege section. The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to opt in to overdraft services for ATM and one-time debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees.

BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity.

STOP PAYMENTS - The rules in this section cover stopping payment of common items such as checks and drafts, followed by specific rules for electronic fund transfers (e.g. Automatic Clearing House). If you have questions about rules we have not disclosed to you here or elsewhere, you may ask us about those rules.

We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in writing it is effective for six months. Your order will lapse after that time if you do not renew the order orally or in writing before the end of the six-month period. If the original stop-payment order was oral your stop-payment order may lapse after 14 calendar days if you do not confirm your order in writing within that time period. We are not obligated to notify you when a stop-payment order expires. In all instances, if a stop payment order is $10,000.00 or more, Alpine Bank will require a written authorization that includes a signature.

If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including attorneys' fees. You assign to us all rights against the payee or any other holder of the item. You agree to cooperate with us in any legal actions that we may take against such persons. You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order. 

Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).

ACH STOP PAYMENTS - Excluding the following requirements as defined in this section, all provisions stated above are also applicable to stop payments for Automatic Clearing House items. Generally, if your stop-payment order is given to us in writing it is effective for six months. Your order will lapse after that time if you do not renew the order in writing before the end of the six-month period. If the original stop-payment order was oral your stop-payment order will lapse after 14 calendar days if you do not confirm your order in writing within that time period. We are not obligated to notify you when a stop-payment order expires. A release of the stop-payment request may be made by any person who has ownership of the account the item was presented against. To remain in effect for more than 14 calendar days, all stop-payment orders for an electronic fund transfer, regardless of the dollar amount, will require a written authorization that includes a signature.

Our stop-payment cutoff time for ACH items is no less than three business days before an item has been received by Alpine Bank, otherwise Alpine Bank cannot guarantee the effectiveness of the stop-payment order. Additional limitations on our obligation to stop payment are provided by law.

TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.

AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates are provided separately in the Truth-in-Savings disclosure or in another document. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Items presented for payment after the account is closed may be dishonored. When you close your account, you are responsible for leaving enough money in the account to cover any outstanding items to be paid from the account. Reasonable notice depends on the circumstances, and in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change, you have agreed to the new term(s).

NOTICES - Any written notice you give us is effective when we actually receive it, and it must be given to us according to the specific delivery instructions provided elsewhere, if any. We must receive it in time to have a reasonable opportunity to act on it. If the notice is regarding a check or other item, you must give us sufficient information to be able to identify the check or item, including the precise check or item number, amount, date and payee. Written notice we give you is effective when it is deposited in the United States Mail with proper postage and addressed to your mailing address we have on file. Notice to any of you is notice to all of you.

STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations or any other indication of forgery or counterfeiting, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.

You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 30 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 30-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

Your duty to report other errors or problems - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error or problem - such as an encoding error or an unexpected deposit amount. Also, if you receive or we make available either your items or images of your items, you must examine them for any unauthorized or missing indorsements or any other problems. You agree that the time you have to examine your statement and items and report to us will depend on the circumstances. However, this time period shall not exceed 30 days. Failure to examine your statement and items and report any errors to us within 30 days of when we first send or make the statement available precludes you from asserting a claim against us for any errors on items identified in that statement and as between you and us the loss will be entirely yours.

Duty to notify if statement not received - You agree to immediately notify us if you do not receive your statement by the date you normally expect to receive it. Not receiving your statement in a timely manner is a sign that there may be an issue with your account, such as possible fraud or identity theft.

ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS - If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the 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.

TEMPORARY ACCOUNT AGREEMENT - If the account documentation indicates that this is a temporary account agreement, each person who signs to open the account or has authority to make withdrawals (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt any of you owe us now or in the future. If your debt arises from a promissory note, then the amount of the due and payable debt will be the full amount we have demanded, as entitled under the terms of the note, and this amount may include any portion of the balance for which we have properly accelerated the due date.

This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.

RESTRICTIVE LEGENDS OR INDORSEMENTS - The automated processing of the large volume of checks we receive prevents us from inspecting or looking for restrictive legends, restrictive indorsements or other special instructions on every check. For this reason, we are not required to honor any restrictive legend or indorsement or other special instruction placed on checks you write unless we have agreed in writing to the restriction or instruction. Unless we have agreed in writing, we are not responsible for any losses, claims, damages, or expenses that result from your placement of these restrictions or instructions on your checks. Examples of restrictive legends placed on checks are "must be presented within 90 days" or "not valid for more than $1,000.00." The payee's signature accompanied by the words "for deposit only" is an example of a restrictive indorsement.

FACSIMILE/ELECTRONIC SIGNATURES - You authorize us at any time, to charge you for all checks, drafts or other orders for the payment of money (instruments) utilizing a facsimile or electronic signature(s), which are drawn on us regardless of by whom or by what means the facsimile/electronic signature(s) may have been affixed. This authorization specifically includes forged or counterfeit instruments using a facsimile/electronic signature, and you agree to be solely responsible for any loss which may be incurred by virtue of the use of facsimile/electronic signature(s) under this paragraph. You expressly assume all risks involved with any unauthorized use of such facsimile/electronic signature(s) and agree that you shall be responsible for and chargeable with the amount of all instruments bearing such facsimile/electronic signature(s) or signatures resembling the same, whether or not authorized by you. This agreement is made pursuant to C.R.S. 4-4-103(a) and is intended to allow variation of the normal allocation of losses from forged checks based on the provisions of the Uniform Commercial Code.

CHECK PROCESSING - We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and indorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of indorsements unless you notify us in writing that the check requires multiple indorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would not be identified by a reasonable inspection of the item. Using an automated process helps us keep costs down for you and all account holders.

CHECK CASHING - We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.

INDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not indorsed by you. We may give cash back to any one of you. We may supply any missing indorsement(s) for any item we accept for deposit or collection, and you warrant that all indorsements are genuine.

To ensure that your check or share draft is processed without delay, you must indorse it (sign it on the back) in a specific area. Your entire indorsement (whether a signature or a stamp) along with any other indorsement information (e.g. additional indorsements, ID information, driver's license number, etc.) must fall within 11/2" of the "trailing edge" of a check. Indorsements must be made in blue or black ink, so that they are readable by automated check processing equipment.

As you look at the front of a check, the "trailing edge" is the left edge. When you flip the check over, be sure to keep all indorsement information within 11/2" of that edge.

Check Indorsement

It is important that you confine the indorsement information to this area since the remaining blank space will be used by others in the processing of the check to place additional needed indorsements and information. You agree that you will indemnify, defend, and hold us harmless for any loss, liability, damage or expense that occurs because your indorsement, another indorsement or information you have printed on the back of the check obscures our indorsement.

These indorsement guidelines apply to both personal and business checks.

STALE-DATED CHECKS - We are not obligated to, but may at our option, pay a check, other than a certified check, presented for payment more than six months after its date. If you do not want us to pay a stale-dated check, you must place a stop-payment order on the check in the manner we have described elsewhere.

DEATH OR INCOMPETENCE - You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies or is adjudicated (determined by the appropriate official) incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or adjudication of incompetence, and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may pay or certify checks drawn on or before the date of death or adjudication of incompetence for up to ten (10) days after your death or adjudication of incompetence unless ordered to stop payment by someone claiming an interest in the account.

FIDUCIARY ACCOUNTS - Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary is someone who is appointed to act on behalf of and for the benefit of another. We are not responsible for the actions of a fiduciary, including the misuse of funds. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters or court order.

CREDIT VERIFICATION - You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.

LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed "legal action" in this section), we will comply with that legal action. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys' fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.

ACCOUNT SECURITY -

Duty to protect account information and methods of access - It is your responsibility to protect the account numbers and electronic access devices (e.g., a debit card) we provide you for your account(s). Do not discuss, compare, or share information about your account number(s) with anyone unless you are willing to give them full use of your money. An account number can be used by thieves to issue an electronic debit or to encode your number on a false demand draft which looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or coworker, for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized.

Your account number can also be used to electronically remove money from your account, and payment can be made from your account even though you did not contact us directly and order the payment.

You must also take precaution in safeguarding your blank checks. Notify us at once if you believe your checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss).

Positive Pay and other fraud prevention services - You agree that if we offer you services appropriate for your account to help identify and limit fraud or other unauthorized transactions against your account, and you reject those services, you will be responsible for any fraudulent or unauthorized transactions which could have been prevented by the services we offered. You will not be responsible for such transactions if we acted in bad faith or to the extent our negligence contributed to the loss. Such services may include commercially reasonable security procedures. If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected. The positive pay service can help detect and prevent check fraud and is appropriate for account holders that issue: a high volume of checks, a lot of checks to the general public, or checks for large dollar amounts. 

TELEPHONIC INSTRUCTIONS - Unless required by law or we have agreed otherwise in writing, we are not required to act upon instructions you give us via facsimile transmission or leave by voice mail or on a telephone answering machine.

MONITORING AND RECORDING TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS - Subject to federal and state law, we may monitor or record phone calls for security reasons, to maintain a record and to ensure that you receive courteous and efficient service. You consent in advance to any such recording.

To provide you with the best possible service in our ongoing business relationship for your account we may need to contact you about your account from time to time by telephone, text messaging or email. However, we first obtain your consent to contact you about your account in compliance with applicable consumer protection provisions in the federal Telephone Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations and orders issued by the Federal Communications Commission (FCC).

  • Your consent is limited to your account, and as authorized by applicable law and regulations.
  • Your consent is voluntary and not conditioned on the purchase of any product or service from us.

With the above understandings, you authorize us to contact you regarding your account throughout its existence using any telephone numbers or email addresses that you have previously provided to us by virtue of an existing business relationship or that you may subsequently provide to us..

This consent is regardless of whether the number we use to contact you is assigned to a landline, a paging service, a cellular wireless service, a specialized mobile radio service, other radio common carrier service or any other service for which you may be charged for the call. You further authorize us to contact you through the use of voice, voice mail and text messaging, including the use of pre-recorded or artificial voice messages and an automated dialing device.

If necessary, you may change or remove any of the telephone numbers or email addresses at any time using any reasonable means to notify us.

CLAIM OF LOSS - If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys' fees incurred by you.

You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.

EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) - We may impose early withdrawal penalties on a withdrawal from a time account even if you don't initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your notice of penalty for early withdrawals for additional information.

ADDRESS OR NAME CHANGES - You are responsible for notifying us of any change in your address or your name. Unless we agree otherwise, change of address or name must be made in writing by at least one of the account holders. Informing us of your address or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

RESOLVING ACCOUNT DISPUTES - We may restrict the account or place a freeze on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons.

WAIVER OF NOTICES - To the extent permitted by law, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account. For example, if you deposit an item and it is returned unpaid or we receive a notice of nonpayment, we do not have to notify you unless required by federal Regulation CC or other law.

ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer 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. Credit entries may be made by ACH. If we receive a payment order to credit 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.

TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES - If you truncate an original check and create a substitute check, or other paper or electronic image of the original check, you warrant that no one will be asked to make payment on the original check, a substitute check or any other electronic or paper image, if the payment obligation relating to the original check has already been paid. You also warrant that any substitute check you create conforms to the legal requirements and generally accepted specifications for substitute checks. You agree to retain the original check in conformance with our internal policy for retaining original checks. You agree to indemnify us for any loss we may incur as a result of any truncated check transaction you initiate. We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act. Unless specifically stated in a separate agreement between you and us, we do not have to accept any other electronic or paper image of an original check.

REMOTELY CREATED CHECKS - Like any standard check or draft, a remotely created check (sometimes called a telecheck, preauthorized draft or demand draft) is a check or draft that can be used to withdraw money from an account. Unlike a typical check or draft, however, a remotely created check is not issued by the paying bank and does not contain the signature of the account owner (or a signature purported to be the signature of the account owner). In place of a signature, the check usually has a statement that the owner authorized the check or has the owner's name typed or printed on the signature line.

You warrant and agree to the following for every remotely created check we receive from you for deposit or collection: (1) you have received express and verifiable authorization to create the check in the amount and to the payee that appears on the check; (2) you will maintain proof of the authorization for at least 2 years from the date of the authorization, and supply us the proof if we ask; and (3) if a check is returned you owe us the amount of the check, regardless of when the check is returned. We may take funds from your account to pay the amount you owe us, and if there are insufficient funds in your account, you still owe us the remaining balance.

UNLAWFUL INTERNET GAMBLING NOTICE - Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through this account or relationship. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.

FUNDS TRANSFERS - The terms used in this section have the meaning given to them in UCC 4A. This section will generally not apply to you if you are a consumer. However, even if you are a consumer, this section will apply to that part of any funds transfer that is conducted by Fedwire. This section is subject to UCC 4A as adopted in the state in which you have your deposit with us. This agreement is also subject to all clearing house association rules, rules of the Board of Governors of the Federal Reserve System and their operating circulars. If any part of this agreement is determined to be unenforceable, the rest of the agreement remains effective. This agreement controls funds transfers unless supplemented or amended in a separate written agreement signed by us. This agreement does not apply to a funds transfer if any part of the transfer is governed by the Electronic Fund Transfer Act of 1978 (EFTA), except this agreement does apply to a funds transfer that is a remittance transfer as defined in EFTA unless the remittance transfer is an electronic fund transfer as defined in EFTA.

Funds transfer - A funds transfer is the transaction or series of transactions that begin with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. A funds transfer is completed by the acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's order. You may give us a payment order orally, electronically, or in writing, but your order cannot state any condition to payment to the beneficiary other than the time of payment. Credit entries may be made by ACH.

Authorized account - An authorized account is a deposit account you have with us that you have designated as a source of payment of payment orders you issue to us. If you have not designated an authorized account, any account you have with us is an authorized account to the extent that payment of the payment order is not inconsistent with the use of the account.

Acceptance of your payment order - We are not obligated to accept any payment order that you give us. If we elect to accept your payment order, we will use reasonable efforts to comply with the payment order in paying the proceeds to the beneficiary, if we are also the beneficiary's bank, or in executing the payment order if we are not also the beneficiary's bank. We may, in all cases, rely on and accept payment orders issued on your behalf by any individual(s) authorized to sign checks on any of your depository accounts with us. If we do not execute your payment order, but give you notice of our rejection of your payment order after the execution date or give you no notice, we are not liable to pay you as restitution any interest on a withdrawable credit in a non-interest-bearing account.

Rejection of payment order - You agree that we may reject any payment order you issue. We have no obligation to notify you of the rejection of your payment order and we shall have no liability to you for rejection of a payment order.

Cutoff time - If we do not receive and accept your payment order or communication canceling or amending a payment order before our cutoff time on a funds transfer day for that type of order or communication, the order or communication will be deemed to be received at the opening of our next funds transfer business day.

Payment of your order - If we accept your payment order or if the payment order is otherwise made effective against you, you agree to settle for the payment order. We may receive payment by automatically deducting from any authorized account the amount of the payment order plus the amount of any expenses, charges and fees for our services or corresponding bank charges related to execution of your payment order. We are entitled to payment at the time of the payment order. Unless your payment order specifies otherwise, the payment or execution date is the funds transfer date we receive the payment order. The funds transfer is completed upon acceptance by the beneficiary's bank. Your obligation to pay your payment order is excused if the funds transfer is not completed, but you are still responsible to pay us any expenses and charges for our services. However, if you told us to route the funds transfer through an intermediate bank, and we are unable to obtain a refund because the intermediate bank that you designated has suspended payments, then you are still obligated to pay us for the payment order. You will not be entitled to interest on any refund you receive because the beneficiary's bank does not accept the payment order.

Security procedure - As described more fully in a separate writing, the authenticity of a payment order or communication canceling or amending a payment order issued in your name as sender may be verified by a security procedure. You affirm that you have no circumstances which are relevant to the determination of a commercially reasonable security procedure unless those circumstances are expressly contained in a separate writing signed by us. You may choose from one or more security procedures that we have developed, or you may develop your own security procedure if it is acceptable to us. If you refuse a commercially reasonable security procedure that we have offered you, you agree that you will be bound by any payment order issued in your name, whether or not authorized, that we accept in good faith and in compliance with the security procedure you have chosen.

Errors in payment orders - You agree that we have no obligation to discover errors in payment orders, including duplicate payment orders, and shall not be liable to you for errors you made, including but not limited to errors made in identifying the beneficiary, or an intermediary or beneficiary's bank, or for errors in the amount of the payment order. In the event that you make an error or issue a duplicate Payment Order, you agree to indemnify, defend all claims, and hold us harmless from any loss, damages or expenses, including but not limited to attorneys' fees, we incur as the result of completion of the funds transfer.

Duty to report unauthorized or erroneous payment - You must exercise ordinary care to determine that all payment orders or amendments to payment orders that we accept that are issued in your name are authorized, enforceable, in the correct amount, to the correct beneficiary, and not otherwise erroneous. If you discover (or with reasonable care should have discovered) an unauthorized, unenforceable, or erroneously executed payment order or amendment, you must exercise ordinary care to notify us of the relevant facts. You shall notify us of any discrepancy between the Payment Order and the related funds transfer, or of any unauthorized transaction or other error on the next business day following receipt of any advice or within 14 calendar days of the delivery or mailing by us (whichever occurs first) of any statement of account relating to the authorized account, whichever is earlier, which time limits you agree are reasonable. You will be deemed to have received any advices and statements of account that are mailed by us five (5) business days after such mailing. We shall have no liability to you for any loss or damage sustained by you arising out of any payment order referenced in a statement of account for the authorized account or in an individual advice, and you shall not bring any legal proceeding or action against us to recover such loss or damage, unless (a) you shall have given the written notice as provided for herein, and (b) such legal proceeding or action shall be commenced within the period established by UCC 4A. The Customer waives any right to seek or enforce payment of attorneys' fees related thereto. If you do not provide us with timely notice you will not be entitled to interest on any refundable amount. If we can prove that you failed to perform either of these duties with respect to an erroneous payment and that we incurred a loss as a result of the failure, you are liable to us for the amount of the loss not exceeding the amount of your order.

Identifying number - If your payment order identifies an intermediate bank, beneficiary bank, or beneficiary by name and number, we and every receiving or beneficiary bank may solely rely upon the identifying number rather than the name to make payment, even if the number identifies an intermediate bank or person different than the bank or beneficiary identified by name. Neither we nor any receiving or beneficiary bank have any responsibility to determine whether the name and identifying number refer to the same financial institution or person.

Record of oral or telephone orders - You agree that we may, if we choose, record any oral or telephone payment order or communication of amendment or cancelation.

Notice of credit - If we receive a payment order to credit an account you have with us, we are not required to provide you with any notice of the payment order or the credit.

Provisional credit - You agree to be bound by the automated clearing house association operating rules that provide that payments made to you or originated by you by funds transfer through the automated clearing house system are provisional until final settlement is made through a Federal Reserve Bank or otherwise payment is made as provided in Article 4A-403(a) of the Uniform Commercial Code.

Refund of credit - You agree that if we do not receive payment of an amount credited to your account, we are entitled to a refund from you in the amount credited and the party originating such payment will not be considered to have paid the amount so credited.

Amendment of funds transfer agreement - From time to time we may amend any term of this agreement by giving you reasonable notice in writing. We may give notice to anyone who is authorized to send payment orders to us in your name, or to anyone who is authorized to accept service.

Cancelation or amendment of payment order - You may cancel or amend a payment order you give us only if we receive the communication of cancelation or amendment (a) before our cutoff time and (b) in time and in a manner affording us a reasonable opportunity to act on it before we accept the payment order. The communication of cancelation or amendment must be presented in conformity with the same security procedure that has been agreed to for payment orders.

If we accept any cancellation of a payment order, you agree that we are relieved of any obligation to act on such payment order. If we accept any amendment of a payment order, you agree that we are relieved of any obligation to act on the un-amended form of the payment order. You acknowledge and agree that after a payment order has been accepted by the beneficiary's bank, return of such funds must be authorized by the beneficiary and we have no responsibility to procure the return of such funds. If you deposit with us an amount reasonably determined in good faith by us to approximate the costs and expenses (including attorney's fees) which we may incur in attempting to recover the funds transferred, we may, in our sole discretion, make an attempt to recover the funds. In lieu of such a deposit, we may request you to provide a bond or other assurance of payment reasonably satisfactory to us. In no event shall we be deemed to have guaranteed the recovery of any portion of the amount transferred.

Use of correspondents, agents and systems - You agree that we may make use of such correspondents, agents and communication systems as it deems necessary or desirable to execute a payment order. To the fullest extent permitted by law (a) such correspondents, agents and systems shall be deemed to be your agents and we shall not be liable for any errors, negligence, suspension, or default of any of them or for any failure to identify the beneficiary or any mistake in payment by any of them, and (b) we shall not be liable for any errors, mutilations, misdelivery or failure of delivery in the transmission of any payment order by such correspondents, agents and communication systems or for any suspension of any means of communication or for any imposition of a censorship, exchange control or other restriction by such correspondents, agents, and communication systems, all such risk being borne by you. Each Payment Order, amendment or cancellation thereof, carried out through a funds transfer system will be governed by all applicable funds transfer system rules. Any payment order or cancellation thereof may be transmitted by any bank by use of the funds transfer system of the Federal Reserve Bank ("Fedwire"). All of your and our rights and obligations with respect to any payment order, any part of which is carried out through the use of the Fedwire, shall be governed by any applicable laws, the regulations of the Board of Governors of the Federal Reserve system, and the operating circulars of the Federal Reserve Bank.

Intermediaries - We are not liable for the actions of any intermediary, regardless of whether or not we selected the intermediary. We are not responsible for acts of God, outside agencies, or nonsalaried agents.

Limit on liability - We shall be liable only for our gross negligence or willful misconduct in performing these funds transfer services. We shall not be liable for acts or omission by you or any other person or entity, including without limitation any funds transfer systems, any Federal Reserve Bank, any beneficiary's bank and any beneficiary, none of which shall be deemed our agent. Without limitation, we shall be excused from delaying or failing to act if caused by legal constraint, interruption of transmission or communication facilities, equipment failure, war, emergency conditions, strikes or other circumstances beyond our control. In addition, we shall be excused from delaying or failing to execute a wire transfer due to any changes in the rules, regulations and policies of the Federal Reserve Board that affect our ability to send or receive wires at any time, for any reason, if the wire transfer would result in our exceeding any limitation on its intra-day net funds position established through Federal Reserve guidelines or if the wire transfer would result in violating any present or future risk control program of the Federal Reserve or a rule or regulation of any other governmental regulatory authorities. You waive any claim you may have against us for consequential, punitive or special damages, including loss of profit arising out of a payment order or funds transfer, unless this waiver is prohibited by law. We are not responsible for attorneys' fees you might incur due to erroneous execution of payment order.

Erroneous execution - If we receive an order to pay you, and we erroneously pay you more than the amount of the payment order, we are entitled to recover from you the amount in excess of the amount of the payment order, regardless of whether you may have some claim to the excess amount against the originator of the order.

Objection to payment - If we give you a notice that reasonably identifies a payment order issued in your name as sender that we have accepted and received payment for, you cannot claim that we are not entitled to retain the payment unless you notify us of your objection to the payment within one year of our notice to you.

International payment orders - Fund transfers to beneficiaries outside of the United States may be paid to the beneficiary in the foreign currency of the country to which the funds are transferred. It is your sole responsibility to notify the beneficiary that the funds originated in U.S. dollars may be paid to the beneficiary in the currency of the country to which the funds are transferred at our buying rate of exchange for wire transfers. We are not responsible for fluctuations in exchange rates. Additional terms contained in the Bank's "Remittance Transfer Disclosure" apply if you are a consumer and the beneficiary is located outside of the United States. If you are a business entity, the business entity represents and warrants that the payment order is not issued for personal, family or household purposes.

Your cooperation - In the event that we are entitled under the law governing mistake and restitution to recover from any beneficiary all or any part of a funds transfer made to such beneficiary hereunder, you agree upon our request but without expense to us to testify in any legal proceedings and otherwise take any action necessary to assist or enable us to recover from such beneficiary. You hereby consent to our disclosure to government authorities of information concerning you and transactions under this agreement that we believe to be appropriate or necessary to fulfill legal recordkeeping and reporting requirements. Upon our request, you agree to provide us with any transaction information we request to handle inquiries or tracing, or otherwise to comply with applicable laws and regulations relating to payment orders, including but not limited to dollar amounts, account(s) affected, dates and names of beneficiaries and third parties involved in the transfer.

Compliance with laws - You agree to comply with all applicable laws, rules, procedures and regulations with respect to your use of accounts with us and your use of the Funds Transfer service. We will endeavor to comply with regulations issued by the U.S. Treasury's Office of Foreign Assets Control ("OFAC"). If any payment order is to a person or entity listed on OFAC's list of Specially Designated Nationals and Blocked Persons, by law, we shall not complete the transfer and shall "block" the funds until such time that OFAC issues a written release to us.

Indemnification - You shall be liable to us for and shall indemnify and hold us and our affiliates and their respective officers, directors, employees and agents harmless from and against any and all claims, causes of action, damages, expenses (including reasonable attorneys' fees and other legal expenses), liabilities and other losses arising or resulting from your acts or omissions, or from your (or by any other person or entity acting on your behalf) provision of invalid or inaccurate data, including without limitation (a) a breach by you of any provision of this agreement; (b) our debiting or crediting of the account of any person or entity as requested by you; and (c) the failure to act or the delay of any financial institution other than us.

SUBACCOUNT ORGANIZATION - We have organized your account in a nontraditional way. Your account consists of two subaccounts. One of these is a transaction subaccount (e.g., a checking subaccount). You will transact business on this subaccount. The other is a nontransaction subaccount (e.g., a savings subaccount). You cannot directly access the nontransaction subaccount, but you agree that we may automatically, and without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. This account organization will not change the amount of federal deposit insurance available to you, your available balance, the information on your periodic statements, or the interest calculation, if this is an interest-bearing account. You will not see any difference between the way your account operates and the way a traditionally organized account operates, but this organization makes us more efficient and helps to keep costs down.

Overdraft Privilege

A SPECIAL SERVICE FOR CHECKING

At Alpine Bank, we do not encourage overdrafts; we encourage you to manage your finances responsibly. However, we want to help save you from possible additional merchant fees and damage to your credit history that might result if an item is returned.

That's why we provide "Overdraft Privilege," a special overdraft service for Alpine Bank's checking accounts.

What is Overdraft Privilege?

Standard Overdraft Privilege is an overdraft service requiring no action on your part. Your Overdraft Privilege limit amount is automatically assigned according to the account type.

Your Overdraft Privilege limit may be available for checks and other transactions made using your checking account number, automatic bill payments, or recurring debit card transactions. Additionally, Alpine Bank offers an Enhanced Overdraft Privilege service[3], in which we may authorize and pay ATM transfers or withdrawals or everyday debit card purchases using your available Overdraft Privilege limit. 

How does Overdraft Privilege work?

As long as you maintain your account in good standing[1], Alpine Bank may approve your overdrafts within your currently available Overdraft Privilege limit. Whether your overdraft item will be paid is discretionary, and we reserve the right not to pay. We typically do not pay overdrafts if your account is not in good standing. Please see our Overdraft Privilege Customer Agreement for all terms and conditions of the Overdraft Privilege service. Please note that the amount of the overdraft item plus our standard non-sufficient funds (NSF) paid item fee[2] will be deducted from your overdraft limit. No interest will be charged on the insufficient balance of your account.

How do I know when I use the overdraft limit?

You will receive an overdraft notice each time items are paid using the available Overdraft Privilege, including any fees. When balancing your checkbook, you will need to subtract the amount of each overdraft item, plus our standard NSF paid item fee for each overdraft item.[2]

What if I go beyond my Overdraft Privilege limit?

Overdraft items above and beyond your currently available Overdraft Privilege limit may result in those items being returned to the payee. The standard non-sufficient funds (NSF) returned item fee[2] will be charged per item and assessed to your account. An NSF notice will be sent to the most current address we have on file, notifying you of our action(s). Business accounts are not subjected to this daily limit and may be assessed more than $200.00 in non-sufficient funds fees per account, per day.

What is my Overdraft Privilege limit? I have two checking accounts. Can I get Overdraft Privilege on both?

Locate your account type on the following chart and make note of the corresponding limit. If you have multiple accounts for your household, it may be possible to have a limit on each eligible account.[1]

Business Checking $1,200
Business Checking with Interest $1,200
Business Apex Checking $1,200
Saver's Choice Money Market $1,200
Investor's Choice Money Market $1,200
Apex Money Market $1,200

How quickly must I repay my Overdraft Privilege?

You should make every attempt to bring your account to a positive balance as soon as possible. However, in order to avoid the possible suspension of your Overdraft Privilege, you must bring your account to a positive end-of-day balance, for at least 1 business day, once every 30 calendar days. If you bring your account to a positive end-of-day balance within this time, your limit may be made available again the first business day after the positive balance. If you are not able to bring your account to a positive balance within 30 calendar days after the creation of the negative balance, you will receive a letter from Alpine Bank informing you of the situation and your options. If, thereafter, your account has not been brought to a positive balance, we may suspend your Overdraft Privilege and additional items may be returned.

What does my Overdraft Privilege cost?

There is no additional cost associated with this service unless you use it. You will be charged our standard NSF paid item fee[2] for each NSF item paid that was by check, in-person withdrawals, automatic payment (ACH) transaction, recurring debit card payment, or any other debit transaction made using your checking account. Additionally, Alpine Bank may authorize and pay ATM transfers or withdrawals and everyday debit card purchases[3] and charge our standard NSF paid item fee[2] for each item.

What are some of the ways I can access my Overdraft Privilege limit? Will my limit be reflected in the balance I receive?

The chart below shows the different ways you can access your Overdraft Privilege limit and indicates whether or not this limit will be reflected in the balance provided. The Enhanced Overdraft Privilege is only available if the account's Standard Overdraft Privilege is active.

Access Points Is my Overdraft Privilege limit available? Does the balance provided reflect my Overdraft Privilege limit?
Standard Overdraft Privilege
Teller Yes No
Writing a Check Yes N/A
Debit Card (recurring) Yes N/A
ACH Auto Debit Yes N/A
Alpine Online Yes No
Alpine Info-Line Yes No
Enhanced Overdraft Privilege
Debit Card (everyday) Yes[3] N/A
ATM Withdrawal Yes[3] No

How soon can I use my Overdraft Privilege?

If this is a new account with Alpine Bank, the use of the Overdraft Privilege service may be available to you on the first business day, following a 30-calendar-day waiting period, provided your account is in good standing[1], except in cases where the 30th calendar day falls on a federal holiday or weekend, in which case your ODP may be available the 2nd business day after the 30-calendar-day waiting period.

What are some other ways I can cover overdrafts at Alpine Bank?

The best way to avoid overdrafts and fees is to manage your account responsibly so it does not become overdrawn. However, if mistakes occur, Alpine Bank offers other solutions to help cover overdrafts in addition to Overdraft Privilege. Please contact your nearest location to inquire about these additional options. Alpine Bank's Online Banking has additional features to help you maintain good account management such as Bank to Bank transfers and Low Balance Alerts via our Mobile banking app[6] or online banking.

Ways to Cover Overdrafts at Alpline Bank Example of Associated Fees
Good account management $0
Automatic "Sweep"[5] from your Alpine Bank Home Equity Line of Credit $10.00 per transfer
Ready Reserve Line of Credit $10.00 Annual Fee and 18.00% APR[4]
Telephone Transfers $0
Transfer of funds from your Alpine Bank Home Equity Line of Credit Automatic advances in $1,000.00 increments. See your local Alpine Bank for loan terms and rates.
Overdraft Privilege NSF paid item fee[2] for each item

What if I do not want to have Overdraft Privilege on my checking account?

If you would like to have this service removed from your account, please visit any one of our locations or you can call us at 1-800-551-6098.

OVERDRAFT PRIVILEGE CUSTOMER
TERMS AND CONDITIONS

General Terms:

An insufficient balance can result from several events, including, but not limited to: (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized by you; (3) the return of unpaid items deposited by you; (4) bank service charges as disclosed in your Truth in Savings disclosure and the Fee Schedule; or (5) the deposit of items which, according to the bank's Funds Availability Policy (Your Ability to Withdraw Funds), are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds.

Account Management and Termination:

If you maintain your account in good standing, we may approve overdraft items within your currently available Overdraft Privilege limit as a non-contractual courtesy. For Overdraft Privilege availability, your account is considered to be in good standing if you demonstrate responsible account management such as (1) making regular deposits to bring your account to a positive balance, for at least 1 business day, at least once every 30 calendar days (including the payment of all bank fees and charges); (2) there are no legal orders (including bankruptcies), garnishments, levies or liens against your account and 3) you have no outstanding indebtedness past due or in default to Alpine Bank on any other account relationships; if you fail to meet any of the above stated requirements, we reserve the right to terminate the Overdraft Privilege service on your account until your account is once again in good standing. In addition, based upon our review of your account management, if we determine you may be using Overdraft Privilege as a regular line of credit by creating excessive overdrafts, we may suspend the privilege without any prior notice.

Regardless of account standing, Alpine may/may not pay an item and may/may not assess a Nonsufficient Funds (NSF) fee for each item.

Overdraft Privilege should not be viewed as an encouragement to overdraw your account. We encourage you to manage your finances responsibly by reviewing all your account notices and periodic statements as soon as you receive them, enter all items in your check register and reconcile your account(s) regularly.

Payment of Items:

The order items post to your account is further explained in the previous subsection, "Payment order of items." In the normal course of business, our practice is to pay electronic transactions first and then checks in serial number order. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdrafts during a single banking day for which you will be charged our standard NSF item fee[2] for each overdraft item (paid or returned). You may opt out of Overdraft Privilege at any time, but you are responsible for any indebtedness owed to Alpine Bank at the time of opting out. Normally, we will not approve the payment of overdraft item(s) in excess of the predetermined, or currently available, Overdraft Privilege amount assigned to your account type. So as not to exceed your limit, when reconciling your account, please note that the amount of the overdraft item, plus the bank's standard NSF paid item fee[2] will be deducted from the overdraft limit. We may refuse for any reason, at our sole discretion, not to cover your overdrafts, even though we may have previously paid items for you at other times. You will be notified by mail of any non-sufficient funds items, paid or returned, that you may have; however, we have no obligation to notify you before we pay or return any item.

Please note that your Overdraft Privilege limit may be available for each item paid under the limit created by checks, teller withdrawals, automatic payment (ACH) transactions, automatic bill payments or recurring debit card payments. Also, for our consumer accounts, at your request, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit[3]; Business account(s) are automatically enrolled in the coverage of ATM transfers or withdrawals and everyday debit card purchases. The Overdraft Privilege limit will not be included in the balance provided during an inquiry.

Payment obligation:

The amount of any indebtedness owed to Alpine Bank, which may include our standard NSF paid/returned item fees[2], shall be due and payable upon demand, but if no demand is made, no later than 30 calendar days after the creation of the insufficient balance. If there is an overdraft item paid by us on an account with more than one owner on the signature card, each owner and agent, if applicable, drawing/presenting the item(s) creating the insufficient balance, shall be jointly and severally liable for such overdraft plus our standard NSF paid/returned item fee[2].

Limitations:

Overdraft Privilege is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or business use. Alpine Bank reserves the right to limit participation to one account per household or business and to discontinue this service without prior notice. Please refer to "Terms and Conditions - Understanding and Avoiding Overdraft and Nonsufficient Funds (NSF Fees)" for additional details and limitations concerning overdrafts.

  1. Please refer to the Overdraft Privilege Customer Terms and Conditions for additional details.
  2. $15 for overdraft items of $15.00 or less, and $38 for overdraft items exceeding $15.00.
  3. Business account(s) are automatically enrolled in the Enhanced Overdraft Privilege coverage of ATM or everyday debit card transactions.
    Enhanced Overdraft Privilege is only available if the account's Standard Overdraft Privilege is active.
  4. These costs are provided only as examples. Please ask us about our specific products and fees.
  5. Limitations apply. Please see Truth in Savings disclosure for specific limitations.
  6. Alpine Bank does not charge you a fee for using Alpine Mobile ®; however, your wireless carrier's standard web access and text message rates may still apply.

Your Ability to Withdraw Funds

This policy statement applies to "transaction" accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Checking accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy.

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before closing time on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing 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.

LONGER DELAYS MAY APPLY

Case-by-case delays. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. 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. The first $225 of your deposits, however, will be available on the first business day.

If we are not going to make all of the funds from your deposit available on the first business day, 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 one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

Safeguard exceptions. 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 $5,525 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.

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 your deposit.

SPECIAL RULES FOR NEW ACCOUNTS

If you are a new customer, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525 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 $5,525 will be available on 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 $5,525 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the seventh business day after the day of your deposit.

Substitute Checks and your Rights

As our customer we think it's important for you to know about substitute checks. The following Substitute Check Disclosure provides information about substitute checks and your rights.

What is a substitute check?

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 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.

What are my rights regarding substitute checks?

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).

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.

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 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.

How do I 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 at:

Alpine Bank
Attn: Deposit Operations
400 7th Street South
Rifle, CO 81650
800-551-6098

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.

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 or the following information to help us identify the substitute check: the check number, the amount of the check, the date of the check, and the name of the person to whom you wrote the check.

Truth in Savings Disclosures

We reserve the right to require not less than seven days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit.

Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal. See your notice of penalty for early withdrawal. 

Business Checking Account
Business Checking With Interest Account
Saver's Choice Money Market Account
Investor's Choice Money Market Account
APEX Money Market Account
Lien Waiver Account
Certificates of Deposit

Business Checking Account

Minimum balance to open the account:
There is no minimum balance to open this account.

Fees:
A maintenance fee of $5.00 will be charged each statement cycle.
A ledger entry fee of $0.15 will be charged per item.
A deposited item fee of $0.10 will be charged per item.
A $5.00 fee will be charged per returned item.

You will receive an earned credit of $0.20 per $100.00 average collected balance during the statement period, up to the total amount of the service charge.

Business Checking With Interest Account

Designed for Sole proprietors, non-profits and public organizations.

Rate Information:
Your interest rate and annual percentage yield may change.

Frequency of rate changes: 
We may change the interest rate on your account at any time.

Determination of rate:
At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency:
Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account: 
If you close your account before interest is credited, you will receive the accrued interest.

Daily balance computation method: 
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Fees:
A maintenance fee of $5.00 will be charged each statement cycle.
A ledger entry fee of $0.15 will be charged per item.
A deposited item fee of $0.10 will be charged per item.
A $5.00 fee will be charged per returned item.

You will receive an earned credit of $0.20 per $100.00 average collected balance during the statement period, up to the total amount of the service charge.

Additional Information:
Please refer to our separate rate sheet for current interest rate and annual percentage yield information.

Saver's Choice Money Market Account

Rate information:
Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate:
At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency:
Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account:
If you close your account before interest is credited, you will receive the accrued interest.

Daily balance computation method:
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:
Transfers from a Saver's Choice Money Market account to another account or to third parties by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer or by check, draft, debit card, or similar order to third parties are limited to six per monthly statement cycle.

Fees:
An excess transfer fee of $10.00 may be charged each statement cycle. This fee will apply to any electronic or telephone transfers, OR on checks, automatic or preauthorized transfers to a third party, exceeding six per statement cycle.

Additional Information:
Please refer to our separate rate sheet for current interest rate and annual percentage yield information.

Investor's Choice Money Market Account

Rate Information:
Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate:
At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency:
Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account:
If you close your account before interest is credited, you will receive the accrued interest.

Minimum balance to obtain the annual percentage yield disclosed:
You must maintain a minimum balance of $50,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method:
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:
Transfers from an Investor's Choice Money Market account to another account or to third parties by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer or by check, draft, debit card, or similar order to third parties are limited to six per monthly statement cycle.

Additional Information:
Please refer to our separate rate sheet for current interest rate and annual percentage yield information.

Apex Money Market Account

Rate Information:
Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate:
At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency:
Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account:
If you close your account before interest is credited, you will receive the accrued interest.

Minimum balance to obtain the annual percentage yield disclosed:
You must maintain a minimum balance of $250,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method:
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:
Transfers from an Apex Money Market account to another account or to third parties by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer or by check, draft, debit card, or similar order to third parties are limited to six per monthly statement cycle.

Additional Information:
Please refer to our separate rate sheet for current interest rate and annual percentage yield information.

Lien Waiver Account

Additional Terms:
A lien waiver account is a temporary, no interest and no fee account set up for the purpose of a construction project. A lien waiver account disburses funds from a construction loan or owner's cash to demonstrate full payment and satisfaction for all work performed and/or materials furnished on a construction project.

Certificates of Deposit

Rate Information:
You will be paid the disclosed rate until first maturity.

Compounding frequency:
Interest will be compounded every 30 days.

Crediting frequency:
Interest will be credited to your account every 30 days.

Effect of closing an account:
If you close your account before interest is credited, you will receive the accrued interest.

Minimum balance to open the account:
You must deposit $1,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed:
You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method:
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:
You may make deposits into your account if the interest rate on the CD is equal or less than the current interest rate for a CD with similar maturity to the remaining maturity of the CD.

You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.

You can withdraw interest without penalty monthly, quarterly, semi-annually, annually or at maturity of the time deposit. Interest withdrawn before monthly, quarterly, semi-annually or before the term of the account will be included in the amount subject to early withdrawal penalty.

Time requirements:
Your account will mature as stated on your certificate of deposit.

Early withdrawal penalties: (a penalty will be imposed for withdrawals before maturity)

  • The interest rate that we will use to calculate the interest forfeiture will be the rate at which the time deposit is currently earning interest.
  • If your account has an original maturity of one year or less:
    The fee imposed will equal 30 days interest on the amount withdrawn. If the withdrawal is made within the first six days after the deposit, we may impose a penalty of 7 days interest, on the amount withdrawn subject to penalty.
  • If your account has an original maturity of 18 months - 4 years:
    The fee imposed will equal 90 days interest on the amount withdrawn. If the withdrawal is made within the first six days after the deposit, we may impose a penalty of 7 days interest, on the amount withdrawn.
  • If your account has an original maturity of 5 years:
    The fee we may impose will be 3% of the original or renewal balance. If the withdrawal is made within the first six days after the deposit, we may impose a penalty of 7 days interest, on the amount withdrawn subject to penalty.

Minimum Balance Accounts:
We reserve the right to treat any withdrawal which would reduce the balance remaining in the account below the required minimum initial deposit or minimum balance as a withdrawal of the entire account balance and calculate the amount of the penalty accordingly.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Withdrawal of interest prior to maturity:
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically renewable time account:
This account will automatically renew at maturity. You may prevent renewal if we receive written notice from you before maturity of your intention not to renew or you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any). If you prevent renewal, interest will not accrue after final maturity.

Each renewal term will be the same as the original term, beginning on the maturity date, unless disclosed otherwise in your Certificate of Deposit Account Agreement. The interest rate will be calculated on the same basis as during the original term unless disclosed elsewhere in your Certificate of Deposit Account Agreement.

You will have ten calendar days after maturity to withdraw the funds without a penalty.

Additional Information:
Please refer to our separate rate sheet for current interest rate and annual percentage yield information.

 

Current Rates

Alpine Bank Rate Sheet

Please see a customer service representative for more information on fees and terms.  
      
* Elite Checking, Golden Edge Checking, Business Interest Checking, Saver's Choice, Investor's Choice, Apex, Health Savings, Youth Savings, and Irrevocable Trust w/ Interest Accounts are variable rate accounts.  The rate may change at any time after you open your account.

* Minimum balances to obtain the APY are $100,000 on Jumbo Time Deposits and $1,000 on Regular Time Deposits.

* Fees may reduce earnings on accounts.

* A penalty may be imposed for early withdrawal on any Time Deposit.

Fee Schedule

Account Closed within 6 Months $25.00
Account Reconciliation $30.00 / hr
Box Drilling $150.00
Box Rental Fees (per year)
      3 X 5 $100.00 / with auto debit $50.00
      5 X 5 $110.00 / with auto debit $55.00
      3 X 10 $120.00 / with auto debit $60.00
      5 X 10 $150.00 / with auto debit $75.00
      7 X 10 $170.00 / with auto debit $85.00
      10 x 10 $200.00 / with auto debit $100.00
Cashier's Checks
      Customer $3.00
      Non-Customer $25.00
Check Cashing (Non-Customer) 5% or $5.00 minimum
Check Images w/Monthly Statement (monthly fee)
      Consumer $3.00
      Business $5.00
Check Order Depends on style of check
Collection Item (Foreign or Domestic) $25.00
Customer Service Statement $3.00
Coupon Collection (per envelope) $25.00
Dormant Account Fee (monthly) $25.00
Foreign Currency Exchange 3% of US Dollar Amt
Garnishments $75.00
HSA Closing Fee $15.00
Individual Retirement Account Closing Fee $50.00
Lock Bag $35.00
Loose Coin Processing
      Customer 2% of coins processed
      Non-customer 15% of coins processed
Lost Box Key $50.00
Money Orders (Maximum $1,000.00)
      Customer $2.00
      Non-customer $10.00
Non-Alpine Bank, non-Allpoint and/or all international ATM Fee $2.00
Notary Fee (per stamp)
      Customer No Charge
      Non-customer $5.00
NSF Paid Item Fee (Non-Sufficient Funds) - per item
      Items $15.00 or less $15.00
      Items over $15.00 $38.00
NSF Returned Item Fee (Non-Sufficient Funds) - per item
      Items $15.00 or less $15.00
      Items over $15.00 $38.00
Online ACH Batch Initiation
      Business customers only $10.00
Research
      Up to 10 Items No Charge
      Over 10 Items $1.00/pg or $25.00/hr (lesser of the two)
      Maximum Charge $1,000.00
Return of Item Deposited Fee $5.00
Stop Payment Fee (Per Check/ACH Item) $40.00
"Sweep" Per Transfer Fee $10.00
Temporary Checks (4 Checks/1 Page) $2.00
Two Day Express Delivery Charge $45.00
Wire Transfer Fees:
      Incoming Wire Transfer No Charge
      Outgoing Domestic Wire Transfer $25.00
      Outgoing Online Wire Transfer $15.00
      Outgoing International Wire Transfer $45.00

Rev (10/19)

 

{endAccordion}