Business Account Information

Who We Are? Customers Bank
Questions? Call 866-476-2265 or go to www.customersbank.com
Why? Regulation DD, also known as the Truth In Savings Act, requires Banks to disclose the terms of deposit accounts to consumers so that they can make informed decisions.
What? This disclosure explains the terms of deposit accounts.
  • What the annual percentage yield is on an account
  • How we compound and credit the interest
  • How we determine the rate on the account
  • How often the rate can change
  • The minimum opening deposit for the account
  • The minimum balance to avoid being charged a fee
This information will include:
  • What will happen to accrued interest when the account is closed
  • How we calculate the balance on the account
  • The minimum balance to earn the APY
  • When interest begins to accrue
  • Other applicable fees
  • Any transaction limitations on the account

Checking Accounts

Small Business Checking
The interest rate on your account is N/A
The annual percentage yield is N/A
Can the interest rate and annual percentage yield change? N/A
The interest rate is determined N/A
We may change the interest rate on this account N/A
Interest will be compounded N/A
Interest will be credited to your account N/A
If you close your account before interest is credited N/A
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by N/A
Interest begins to accrue N/A
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to No transaction limitations apply
Non-Profit Interest Checking
The interest rate on your account is 0.15%
The annual percentage yield is 0.15%
Can the interest rate and annual percentage yield change? Yes, this is a variable rate account.
The interest rate is determined At our discretion
We may change the interest rate on this account At any time
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to N/A
Escrow Master Checking
The interest rate on your account is N/A
The annual percentage yield is N/A
Can the interest rate and annual percentage yield change? N/A
The interest rate is determined N/A
We may change the interest rate on this account N/A
Interest will be compounded N/A
Interest will be credited to your account N/A
If you close your account before interest is credited N/A
To open this account, you must deposit a minimum of $0.01
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by N/A
Interest begins to accrue N/A
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to No transaction limitations apply
Business Escrow Checking
The interest rate on your account is 0.15%
The annual percentage yield is 0.15%
Can the interest rate and annual percentage yield change? Yes, this is a variable rate account.
The interest rate is determined At our discretion
We may change the interest rate on this account At any time
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of N/A
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to N/A
Government Deposit Non-Interest Checking
The interest rate on your account is N/A
The annual percentage yield is N/A
Can the interest rate and annual percentage yield change? N/A
The interest rate is determined N/A
We may change the interest rate on this account N/A
Interest will be compounded N/A
Interest will be credited to your account N/A
If you close your account before interest is credited N/A
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by N/A
Interest begins to accrue N/A
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to No transaction limitations apply
Government Deposit Interest Checking
The interest rate on your account is 0.10%
The annual percentage yield is 0.10%
Can the interest rate and annual percentage yield change? Yes, this is a variable rate account.
The interest rate is determined At our discretion
We may change the interest rate on this account At any time
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to N/A
Commercial Interest Checking
The interest rate on your account is 1.49%
The annual percentage yield is 1.50%
Can the interest rate and annual percentage yield change? Yes, this is a variable rate account.
The interest rate is determined At our discretion
We may change the interest rate on this account At any time
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to N/A
Customers Bank Business Analysis Checking Account

Payment of fees and expenses:

By using the Business Analysis Checking Accounts business customers may pay for part or all of their banking fees using Earnings Credit Allowance that is calculated on the average daily collected balances in the Account.

The Bank will directly debit your Account on the 15th of each month for Bank fees and other charges incurred in connection with your Account during the previous month’s activity. If there are insufficient available funds in your Account to cover checks and other debits, the Bank may, at its discretion, create an overdraft on your Account. You agree to promptly repay any overdrawn amount.

Balance Assessment:

The Bank may impose a balance assessment fee on the average daily collected balance of your account each monthly statement cycle.

Earnings Credit Allowance:

The Business Analysis Checking Account does not earn interest. However, you will receive an Earning Credit Allowance each month that is used to offset certain monthly activity charges. If the Earning Credit Allowance is less than the monthly activity charges, you will be assessed a service charge for the difference. If the Earning Credit Allowance is greater than or equal to the monthly activity charges, no service charge will be assessed. The Earning Credit Allowance is set by the bank each month based on market conditions. The Earning Credit Allowance is based on the average daily collected balance; however, the Bank may apply a reserve holdback as market/regulatory conditions permit or require. Any excess Earning Credit Allowance may not be carried over to the following month.

Schedule of Fees

Account Research Fee $25
Business Analysis Account Non-Sufficient Funds (NSF) $40
Business Analysis Account Uncollected Funds (UCF) $40
Canadian Foreign Collection Item $10
Cashier’s Check $10
Certified Check $10
Non-Canadian Foreign Collection Item $35
Replacement ATM/Debit Card $5
Safe Deposit Box Inventory
(Hourly charge. Minimum charge one hour)
$25
Safe Deposit Box Late Payment (monthly) $5
Unauthorized ACH Returned Item (effective 4/1/2017) $5

Other fees for the other service will be provided by your Cash Management Sales officer or Relationship Manager at account opening in your Pricing Proposal. Furthermore, we reserve the right to impose additional or increase fees for banking service in the future. You will be notified you of any increases in fees in the manner and to the extent required by law. Your use of the Account after the effective date of any fee changes shall constitute your approval of revised fees.

Earning Credit Allowance Calculation:

The formula used to calculate the Earning Credit Allowance is:

Earning Credit Allowance is calculated by taking the Average Daily Collected Balance for the month less the Reserve Requirement, multiplied by the Earnings Credit Allowance Rate, divided by the days of the year and times the days in the month.

Money Markets

Business Money Market
The interest rate on your account is
  • If your daily balance is $999 or less, the interest paid on the entire balance will be 0%.
  • If your daily balance is $1,000 or greater, but less than $10,000.00, the interest rate paid on the entire balance will be 0.20%.
  • If your daily balance is $10,000.00 or greater, but less than $25,000.00, the interest rate paid on the entire balance will be 0.35%
  • If your daily balance is $25,000.00 or greater, but less than $50,000.00, the interest rate paid on the entire balance will be 0.40%
  • If your daily balance is $50,000.00 or greater, but less than $500,000.00, the interest rate paid on the entire balance will be 0.40%
  • If your daily balance is $500,000.00 or greater, the interest paid on the entire balance will be 0.40%
The annual percentage yield is
  • If your daily balance is $999 or less, the yield will be 0%.
  • If your daily balance is $1,000 or greater, but less than $10,000.00, the yield will be 0.20%.
  • If your daily balance is $10,000.00 or greater, but less than $25,000.00, the yield will be 0.35%
  • If your daily balance is $25,000.00 or greater, but less than $50,000.00, the yield will be 0.40%
  • If your daily balance is $50,000.00 or greater, but less than $500,000.00, the yield will be 0.40%
  • If your daily balance is $500,000.00 or greater, the yield will be 0.40%
Can the interest rate and annual percentage yield change? Yes, this is a variable rate account.
The interest rate is determined At our discretion
We may change the interest rate on this account At any time
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain A minimum balance of $1,000 at all times. If you do not, a monthly $10 fee will be assessed.
In order to earn the annual percentage yield, you must maintain See “The annual percentage yield is” section above for the annual percentage yield and its corresponding required balance.
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to Six (6) transfers from the 15th of one month to the 15th of the next month to another account at Customers Bank or to third parties by means of a preauthorized transfer, or telephonic (including data transmission) agreement, order or instruction (check, draft, etc), or by debit card, or similar order. Please see the Limitations on Preauthorized Transfers section of the Customers Bank Account Agreement for additional information.
Government Deposit Money Market
The interest rate on your account is 0.25%
The annual percentage yield is 0.25%
Can the interest rate and annual percentage yield change? Yes, this is a variable rate account.
The interest rate is determined At our discretion
We may change the interest rate on this account At any time
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $50.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain See “The annual percentage yield is” section above for the annual percentage yield and its corresponding required balance.
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to Six (6) transfers from the 15th of one month to the 15th of the next month to another account at Customers Bank or to third parties by means of a preauthorized transfer, or telephonic (including data transmission) agreement, order or instruction (check, draft, etc), or by debit card, or similar order. Please see the Limitations on Preauthorized Transfers section of the Customers Bank Account Agreement for additional information.

Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006
Effective June 1, 2010

The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined by the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made.”

As a customer of Customers Bank, theses restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.

Certificates of Deposit (CDs)

For all Certificates of Deposit (CDs) and IRA CDs Transactions are limited in the following way:
  • You may not make any deposits into your account before maturity.
  • You may only withdraw interest credited in the term before maturity of that term without penalty.
  • You can withdraw interest any time during the term of crediting after it is credited to your account.
  • You may not make withdrawals of principal from your account before maturity.
  • Under certain circumstances such as the death or incompetence of an owner of this account the law may permit or require that a withdrawal be allowed. In this case, such a withdrawal will be permitted. Other exceptions may also apply, for example, if this is part of an IRA or other tax deferred savings plan.
  • Under certain circumstances, 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.
  • In addition to the circumstances described above, at our sole discretion, we may also consent to a request for a withdrawal of principal during the term. In that event, an early withdrawal penalty will be assessed as described in the associated product’s description.
3 Month CD
The interest rate on your account is 0.25%
The annual percentage yield is 0.25%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for three (3) months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day which an item is deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be Three (3) months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
4 Month CD – Not Currently Offered
The interest rate on your account is Not Currently Offered
The annual percentage yield is Not Currently Offered
Can the interest rate and annual percentage yield change? No, you will be paid this rate for four (4) months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be Four (4) months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
6 Month CD
The interest rate on your account is 0.35%
The annual percentage yield is 0.35%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for six (6) months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day which it is deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be Six (6) months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
8 Month CD – Not Currently Offered
The interest rate on your account is Not Currently Offered
The annual percentage yield is Not Currently Offered
Can the interest rate and annual percentage yield change? No, you will be paid this rate for eight (8) months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be Eight (8) months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
9 Month CD
The interest rate on your account is 0.50%
The annual percentage yield is 0.50%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for nine (9) months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be Nine (9) months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
10 & 11 Month CD – Not Currently Offered
The interest rate on your account is 10 Month CD – Not Currently Offered
11 Month CD – Not Currently Offered
The annual percentage yield is 10 Month CD – Not Currently Offered
11 Month CD – Not Currently Offered
Can the interest rate and annual percentage yield change? 10 Month CD - No, you will be paid this rate for 10 months.
11 Month CD - No, you will be paid this rate for 11 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 10 Month CD - 10 months from the date the CD is opened
11 Month CD – 11 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
12 Month CD
The interest rate on your account is 0.60%
The annual percentage yield is 0.60%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 12 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 12 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
13 Month CD
The interest rate on your account is 0.65%
The annual percentage yield is 0.65%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 13 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
Transactions on this account are limited to N/A
The maturity date will be 13 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
14 Month CD – Not Currently Offered
The interest rate on your account is Not Currently Offered
The annual percentage yield is Not Currently Offered
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 14 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 14 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
15 Month CD – Not Currently Offered
The interest rate on your account is Not Currently Offered
The annual percentage yield is Not Currently Offered
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 15 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 15 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
18 Month CD
The interest rate on your account is 0.70%
The annual percentage yield is 0.70%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 18 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 18 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
24 Month CD
The interest rate on your account is 0.85%
The annual percentage yield is 0.85%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 24 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 24 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
27 Month CD – Not Currently Offered
The interest rate on your account is Not Currently Offered
The annual percentage yield is Not Currently Offered
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 27 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 27 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
30 Month CD
The interest rate on your account is 1.04%
The annual percentage yield is 1.05%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 30 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 30 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
35 Month CD
The interest rate on your account is Not Currently Offered
The annual percentage yield is Not Currently Offered
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 35 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 35 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
36 Month CD
The interest rate on your account is 1.24%
The annual percentage yield is 1.25%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 36 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 36 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
48 Month CD
The interest rate on your account is 1.34%
The annual percentage yield is 1.35%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 48 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 48 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
60 Month CD
The interest rate on your account is 1.59%
The annual percentage yield is 1.60%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for 60 months.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded Monthly
Interest will be credited to your account Monthly
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $500.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain $500.00
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be 60 months from the date the CD is opened
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to 365 days of interest based on the principal at the beginning of the CD term may be imposed.
Withdrawal of interest prior to maturity The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal prior to maturity will reduce earnings.
Renewal at maturity This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
Various Term DST CDs
Available only to Schools and other Government Agencies
The Annual Percentage Yield (APY) and Interest Rate on your account is 3 Months N/A
5 Months 2.35%
6 Months 2.40%
7 Months 2.45%
8 Months 2.45%
9 Months 2.50%
10 Months 2.55%
11 Months 2.55%
12 Months 2.60%
18 Months 2.70%
24 Months 2.80%
36 Months 2.90%
48 Months 2.95%
60 Months 3.00%
Can the interest rate and annual percentage yield change? No, you will be paid this rate for the term of your CD.
The interest rate is determined At our discretion
We may change the interest rate on this account N/A
Interest will be compounded N/A
Interest will be credited to your account At maturity
If you close your account before interest is credited Accrued interest will be paid
To open this account, you must deposit a minimum of $100,000.00
In order to avoid a fee, you must maintain N/A
In order to earn the annual percentage yield, you must maintain N/A
We calculate your balance by Using the daily balance computation method. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue On the business day noncash items are deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule
The maturity date will be Please see Certificate of Deposit
Early withdrawal penalties If we consent to a request for a withdrawal of principal during the term, a penalty equal to three (3) months (actual days) of interest based on the principal at the beginning of the CD term may be imposed for CDs with terms less than 1 year or a penalty equal to 365 days of interest based on principal at the beginning of the CD term may be imposed for CDs with terms of 1 year or greater.
Withdrawal of interest prior to maturity N/A
Renewal at maturity This account will automatically renew at maturity. You will have ten calendar days after the maturity date to withdraw funds without penalty.

Customers Bank Fee Schedule

Account reconciliation/research
(Hourly charge. Minimum charge one hour)
$25.00
Business Account Non-Sufficient Funds (NSF) $40.00
Business Account Uncollected Funds (UCF) $40.00
Business Account Unauthorized ACH $5.00
Canadian Foreign Collection Item $10.00
Cashier’s Check $10.00
Check Copy $5.00
Court Attachments/Levy $75.00 (Plus Attorney’s fees)
Domestic Outgoing Wire Transfer $20.00
Incoming Wire Transfer $10.00
International Outgoing Wire Transfer $45.00
Non-Canadian Foreign Collection Item $35.00
Overdraft Transfer $5.00
Personal Account Non-Sufficient Funds (NSF)* $20.00
Replacement ATM/Debit Card $5.00
Returned Check (Deposited Item Returned) $10.00
Safe Deposit Box Inventory
(Hourly charge. Minimum charge one hour)
$25.00
Safe Deposit Box Late Payment (monthly) $5.00
Safe Deposit Box Lost Key Replacement $10.00
Statement Copy $5.00
Stop Payment $20.00

*Effective 03/24/14 - $100 per day per account maximum. Effective 02/24/18 - If debits presented against your account on the same day will overdraw the available balance in your account by $20 or less, this fee will not be assessed. See example in the "Bank Account Agreement" section "De Minimis Non-Sufficient Fund (NSF) Fees".

Business Bank Account Agreement

This Account Agreement (“Agreement”) contains the services available to you as a Customers Bank customer. The terms “we”, “us” and “our” refer to Customers Bank. The terms “you” and “your” refer to the business and anyone with authority to conduct transactions on or exercise control over the account. In addition to this agreement, your account is also governed by the signature card you signed and any other applicable disclosures provided to you. If you opened a certificate of deposit, it will also describe certain terms and conditions regarding such account.

You should retain a copy of this Agreement, the disclosures, the Fee Schedule and all product information and feel free to ask questions about them. You should substitute any later updated versions of the documents when you receive them.

Scope of Agreement
This Agreement covers all types of business deposit accounts that we offer, now or in the future, including checking account type products, savings accounts (including money market account products) and certificates of deposit.

The Agreement does not cover safe deposit boxes, trust services, credit cards and non-deposit investment products.

Interest
If you have an account that earns interest, unless otherwise required by law or provided for in our policy, interest begins to accrue on the day of deposit.

Account Ownership and Signature Requirements

Business Account
If your account is a business account, any individual designated as an authorized signer on the most current signature card may conduct all transactions on your account unless transaction authority is otherwise restricted by a document provided to us such as a corporate resolution. This means that we may pay all or any part of the account balance to any one of you and pay checks signed by any one of you. We may also honor withdrawals, orders or other requests from any one of you. Any one of you may place a stop payment on any item. Each of you guarantees the signature of the other and authorizes the other to endorse for deposit and/or cash any item. Either of you may appoint someone to act for you on the account (an agent or attorney-in-fact), but we may require the consent of all of you to the appointment. If one of you dies, we may continue to pay checks signed by, and honor withdrawals, orders or other requests by an authorized signer or any one of you who survives. If we receive written notice from any one of you or any authorized signer on the account not to permit withdrawals, or if we receive conflicting instructions from each of you, we may freeze (refuse to permit withdrawals or transfers from) the account. The account may be frozen until we receive written notice, signed by all of you (including all authorized signers), as to the disposition of the funds. Notice from us to any one of you is notice to all of you.

Transfer of Ownership
If you wish to add a signer to, remove a signer from, or otherwise change authority on an account, we may require that the account be closed and a new account be opened with the names of the new authorized signers. You may not transfer or assign your account without our prior written consent. We must approve any assignment or pledge of your account as security for a debt you owe. Any assignment or pledge of your account remains subject to our right of set-off and security interest. No pledge or assignment for security purposes will become effective until we have recorded it in our files.

Facsimile Signatures
If you use a stamp, computer technology, digital or other electronic means, or another device to imprint a facsimile of your signature on a check, withdrawal slip, or other form, you accept complete responsibility for maintaining security over any such signature device and are fully responsible for the use of the signature device even if you are not negligent. You are also fully responsible for the signature which appears on any item presented to us for payment regardless of who used the signature device or how the facsimile signature came to be placed on the check, withdrawal slip or other form. Any check, withdrawal slip or other form containing a facsimile signature will be effective as your signature or endorsement, whether or not the person who used the signature device was properly authorized to use it. If you use a signature device, you will deliver a sample to us before its first use.

Deposits and Collection of Items
You may make deposits to your account in person at any Customers Bank Office or at automated teller machines (ATMs) that accept deposits to your account. You may also make deposits by mail. We may make other methods of making deposits available to you for your convenience. We are not responsible for transactions by mail or outside our offices until we actually record them.

In receiving any item (such as a check, draft or Automated Clearing House (“ACH”) credit) for deposit or collection, we will process the item in order to collect payment of it. We do not, however, become the owner of the item and will not be responsible beyond the exercise of ordinary care.

If you receive any item payable to you with any endorsement missing, we may endorse it for you and deposit it in your account. We are not required to accept items that contain more than one endorsement. At our discretion, we may limit the amount that may be deposited or refuse or return any deposit. You agree to reimburse us for any loss we incur because an item was not endorsed exactly as it was made out and to pay any fee we may impose.

If after we received final payment of an item a third party claims that the item was altered, bore a forged or unauthorized endorsement, was counterfeit, or was otherwise not properly payable, we may withhold the amount of the item from your account until a final determination has been made of the claim. We will not be liable to you for our actions.

We may adjust your account in our sole discretion to correct computation, transaction recording or other errors. We will not be liable for errors, mistakes or negligence by other banks that process any items. We will not be liable if the item is lost in transit or there is a delay in payment of the item.

We may charge you a fee if you deposit a check to your account which is returned to us because there are insufficient funds to pay the check, the check is written against uncollected funds or other similar situations. (See Fee Schedule.)

Endorsement Standards
If you cash or deposit a check, your endorsement must appear on the back of the check within the first 1 ½ inches from the left side of the check when looking at it from the front. You may not include any other information in the remaining area on the back of the check. We are not responsible for any loss due to a delay in returning the checks caused by endorsements that do not comply with these standards. We are also not responsible for any loss due to endorsements that are not legible because of material on the back of the check (such as checks with carbon bands or strips) that prohibit us from placing our endorsement on the back of the check or that causes our endorsement to be covered. You agree to reimburse us for any loss, expense and cost we may incur because you did not comply with these standards.

Withdrawals

Current Balance – the balance in your account reflecting all deposits and withdrawals made.

Available Balance – the balance in your account which is currently available for withdrawal. This balance is the Current Balance less funds that have been placed on hold. These holds may include items deposited for collection, new account holds, or extended holds.

All items, including items drawn on us, may be withdrawn by you only after we have received payment for the item (final payment). We may charge back to your account the amount of any credit given to you for an item which is returned to us as unpaid. If any item deposited to your account is returned to us, any interest earned on the item from the date the item was deposited to your account to the date the item was returned to us will be charged back to your account. We will not be liable to you for any late payment or failure to pay the item except as set forth in this Agreement. We are not obligated to cash any checks or other items drawn on your account that are payable to others.

We may refuse any request by you to withdraw or transfer funds from your account if your request is for an amount that is less than any minimum we require or exceeds any limit on the frequency of withdrawals of transfers that we established. We may also refuse any request by you to withdraw or transfer funds if such withdrawal or transfer is by a method not specifically permitted by us.

We reserve the right at any time to require that you give us at least seven (7) days notice before you withdraw funds from a savings or money market account. Although we usually pay withdrawals or checks without notice on these accounts, doing so does not mean that we give up that right. If you make a withdrawal from a certificate of deposit account prior to maturity, your withdrawal may be subject to a penalty as well as other restrictions we impose.

Overdraft Protection
You may choose to use another Customers Bank account or your credit line (“overdraft account”) to provide overdraft protection to an account. When the current balance of your account is less than the amount necessary to cover outstanding checks and/or other debt items, funds will be transferred from the overdraft account to cover such checks or debt items and any applicable fees. The funds necessary to cover such checks and/or debit items plus related fees will be transferred to the account provided sufficient collected funds are maintained or are available in the overdraft account. These transfers may cause the overdraft account to fall below the minimum balance required to avoid service charges (See Fee Schedule). Any transfer of funds to cover an overdraft is not an extension of credit, unless it comes from your line of credit with us. If your overdraft account is a savings or money market account, there are limits on the number of transfers that may occur. The funds available in any of your overdraft account(s) will be used before any advances are made in accordance with our Overdraft Policy.

Credit Error
If, for any reason, we credit your account in error or for an amount in excess of the amount to which you are entitled, you agree to pay us the amount of the credit or excess amount. We may deduct the amount of the credit or excess amount from your account or any of your accounts with us without notice to you. We may also use any other legal remedy to recover the credit or excess amount.

Stop Payment Order
If you do not want us to pay a check you have written, you can request us to stop payment on it in person, by mail, by telephone, or by any other method we make available to you. (You may not notify us by e-mail because this would contain personal information.) Any person who can act on your account may also place a stop payment order on any check or item written on your account. Stop Payment Order If you do not want us to pay a check you have written, you can request us to stop payment on it in person, by mail, by telephone, or by any other method we make available to you. (You may not notify us by e-mail because this would contain personal information.) Any person who can act on your account may also place a stop payment order on any check or item written on your account. You should also tell us other information as required such as the date of the check, name of the payee and the information that is magnetically encoded on the bottom of the check. We may take up to twenty- four (24) hours to determine whether we can act on a stop payment request. If any of the information you provided is incomplete or incorrect, or you use a check that is not magnetically encoded to our specifications, or if we do not have a reasonable opportunity to act on it, we will not be liable if we fail to stop payment on the check or if our payment of the check causes other checks to be returned for insufficient funds. We will not be liable for mere clerical errors, inadvertence or a reasonable mistake of judgment if we pay the check over a stop payment order. In no event will we be liable if we pay the check on the same day we receive your stop payment request. If we pay a check over a valid stop payment and re-credit your account for the amount of the check, you agree to transfer to us all of your rights against the payee of the check or person holding your check. You also agree to assist us in any suit or action we may take against the payee or holder of the check. We will not honor stop payments on cashier’s checks or other bank official checks, certified checks or money orders. You may not place a stop payment on a check that has already been paid or otherwise accepted by us.

A stop payment will be valid for 180 days, but you may renew it before the 180 days expires. When the 180 days expires, we do not have to notify you before we pay the check. A stop payment may be revoked or released, in writing, but only by the person who placed the stop payment, regardless of the ownership of the account.

If you place a stop payment, you agree to pay our stop payment fee and to reimburse us for all costs and expenses we incur, including our attorneys’ fees, because of our refusal to pay the check.

You may stop a preauthorized ACH payment from your account by notifying us at least three (3) business days before the scheduled payment date.

An oral stop payment must be confirmed in writing within fourteen (14) calendar days; otherwise it will expire. Mail your confirmation to: Customers Bank, Customer Service, 99 Bridge Street, Phoenixville, PA 19460.

Limitations on Preauthorized Transfers
For any money market, passbook or other savings accounts, you may make no more than six ‘‘Convenient’’ transfers or withdrawals from the 15th of one month to the 15th of the next month. ‘‘Convenient’’ transfers and withdrawals, for purposes of this limit, include preauthorized, automatic transfers (including but not limited to transfers from the savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer, and transfers made by check, debit card, or other similar order made by the depositor and payable to third parties.

Other, less-convenient types of transfers, such as withdrawals or transfers made in person at the bank, by mail, or by using an ATM, do not count toward the six per 15th to 15th cycle limit.

Continually exceedingly these limits may result in your account being converted to another account that permits unlimited check writing privileges.

Postdated Checks
You must not date a check later than the date you write it. If you do and the check is presented to us before its date we may, at our option, either pay the check or return it. We will not be liable to you if we pay the check before its date.

Stale Checks
We may at our option pay a check that is more than six (6) months old, but we are not required to do so. We will make our decision without consulting you.

Check Legends
We may disregard information on a check other than the signature of the person who wrote the check, the name of the bank on which it is drawn, the name of the payee, the amount of the check, and any other information that appears on the MICR line at the bottom of the check. We are not required to comply with any notation on a check such as “paid in full”, “void after 60 days”. “not valid over $1,000”. Unless we have agreed in writing to do so. You must reimburse us for any loss or expense we incur because you wrote or deposited a check containing extra information.

Waiver of Presentment, Dishonor, Nonpayment
If another institution refuses to pay a check (called “dishonor” or “non-payment”) which you deposited or cashed, we may put the check through for collection again. We will not always give you notice that the check was dishonored or not paid before we put the check through again for collection. This means that in this instance you are “waiving” your right to “notice of dishonor” or “notice of non-payment”.

You agree that we may delay putting a check through for collection that you have deposited to your account. This means that you are “waiving” your right to have us begin the process of “presenting” the check by the next business day.

Payment to Unauthorized Persons
We are not responsible for any withdrawals or other transactions made by someone impersonating you or claiming to act under your authority if we have not previously received written notice of the loss or theft of your checks, passbook, and certificate of deposit or of your death.

Disputes Affecting the Account
If we believe that there is a dispute among signers of any account, we may, in or at our sole discretion, place a hold on the funds in the account pending resolution of the dispute to our satisfaction. We may, instead, permit all signers to continue to use the account or we may deposit the account balance into a court for a court order determining who is authorized to withdrawal funds from the account. We will not be liable for taking any of these actions. You must reimburse us for all expenses and costs we incur, including reasonable attorney’s fees. We can deduct any of our losses, costs or expenses from any of your accounts without giving you any notice.

Adverse Claims
If a person other than you makes a claim to your account, we may choose not to act on that claim until we receive a court order. We may, however, act on the claim if the person agrees in writing to pay us for any losses, damages, costs and expenses we incur (this is called indemnification). We are not liable if we pay a check or withdrawal on your account, even if we act after we receive notice of the claim.

Your Death or Incapacity
We may accept, pay, and collect checks and other items after death of an authorized signer or if a court finds an authorized signer unable to handle their affairs (they are “adjudicated incapacitated”) until we know of their death or receive a court order of their incapacity and have a reasonable opportunity to act. Even if we have knowledge of their death, we may, for fourteen (14) calendar days after the date of death, pay checks written before their death. We will not pay such checks, however, if we receive a stop payment from your legal representative, another authorized signer or other persons having a legal interest in your account.

Periodic Statements
If you have an account that receives a periodic statement, we will mail statements to the most recent address we have for you on our records unless you instruct us otherwise. We may also make statements available via Online Banking. If any statement is returned to us because of an incorrect address, we may stop sending statements to you. If you request us to hold rather than mail your statement we may honor or reject any such request. If we permit such a request, you must pick up your statement promptly. We will destroy statements held after ninety (90) days. Even if we agree to hold your statement, you must provide us with an actual mailing address that we can use to mail official correspondence to you. You must exercise the same care in reviewing statements we hold for you or make available to you via Online Banking as if they were mailed.

Notification of Errors, Unauthorized Signatures, Forgeries, Alterations
You should look over your statements carefully and balance your account promptly. You should look for alterations, unauthorized signatures, unauthorized electronic payments, ATM, point of sale, check card transactions, forged or missing endorsements and other mistakes or irregularities. If you find any of these or any other errors on your statement, you must notify us immediately. We will consider the statement correct unless you notify us in writing, at the address indicated on the statement within sixty (60) calendar days from when the statement is first mailed or made available to you.

Lost and/or Stolen Checks, ATM and/or Debit Cards or Other Account Access Means
An authorized signer must notify us within twenty-four (24) hours after you become aware that any of your checks, ATM and/or Debit Cards have been lost, stolen, destroyed or leave your possession without your authorization. You must also notify us within twenty-four (24) hours after you become aware that your Personal Identification Number (PIN) or other information, equipment or electronic record that could enable unauthorized access to your account(s) leaves your possession or control without your authorization. All oral notice must be confirmed in writing within seven (7) calendar days; addressed to: Customers Bank, Customer Service, 99 Bridge Street, Phoenixville, PA 19460. We may require proof of loss, indemnification, security, a waiting period, or other documents before we issue a new certificate or allow any withdrawals from the account. As long as we act with ordinary care, any payments to persons presenting your certificate will be valid payments for which we are not liable. You also agree to reimburse us for any loss or expense we incur. We may charge a fee to replace your ATM or Debit Card (See Fee Schedule).

Lost/Stolen Certificates
If your certificate of deposit is lost, stolen, destroyed or leaves your possession without your authorization, you must call us immediately. All oral notice must be confirmed in writing within seven (7) calendar days; addressed to: Customers Bank, Customer Service, 99 Bridge Street, Phoenixville, PA 19460. We may require proof of loss, indemnification, security, a waiting period, or other documents before we issue a new certificate or allow any withdrawals from the account. As long as we act with ordinary care, any payments to persons presenting your certificate will be valid payments for which we are not liable. You also agree to reimburse us for any loss or expense we incur.

Business Day
Each day is a business day except Saturdays, Sundays, and bank holidays. Thus, a deposit is considered made only on a banking day, i.e., a day the bank is open to the public for carrying on substantially all of its banking functions.

After-Hours Deposits
Any deposit which is made by you on a Saturday, Sunday, bank holiday or after branch closing on any business day may be considered by us to have been made on the next business day.

Wire Transfers
Wire Transfers will be governed by any wire transfer agreement or other agreement you sign covering such transfers. They will also be subject to Article 4A (Funds Transfer) of the Uniform Commercial Code (UCC) of the state of Pennsylvania. Any 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 by Article 4A of the UCC. We are not required to give you notice of any payment order or credit to your account by wire or ACH.

UCC Article 4ADisclosure

DISCLOSURES REGARDING ELECTRONIC "WHOLESALE CREDIT" TRANSACTIONS SUBJECT TO UNIFORM COMMERCIAL CODE ARTICLE 4A

PROVISIONAL PAYMENT:Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry.

NOTICE OF RECEIPT OF ENTRY: Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statement we provide to you.

CHOICE OF LAW: We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses ("ACH") and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Pennsylvania, unless it has otherwise specified in a separate agreement that the law of some other state shall govern.

Attachment or Garnishment and Levy
Any attachment, garnishment or levy against your account is subject to our right of set-off and security interest. If we receive an attachment, garnishment, or levy, against you or any part of your account, we may refuse to allow any authorized signer to make any withdrawals from the account until the attachment, garnishment or levy is satisfied. We may pay the amount demanded to the sheriff, tax authority, or court without notifying any signer of the account. We will, to the extent required by law, send notification to the address of record in writing whenever we receive an attachment, garnishment, or levy affecting your account. We are not liable to you for our actions even if our holding or paying the money leaves insufficient funds to cover outstanding checks or other items presented for payment. You are responsible for any expenses we incur as a result of an attachment, garnishment, or levy and we may off-set such expenses from any accounts you have with us. We may also deduct from any of your accounts any fee charged by us as a result of the attachment, garnishment, or levy (See Fee Schedule).

Set-Off and Security Interest
If you ever owe us money, we can, to the extent allowed by law and without notice to you, use the money from any or all of your accounts (as allowed by law) to pay the debt (set-off). We can do this no matter what kind of debt it is or how the debt arose. In addition to our right of set-off you, grant us a consensual security interest in your accounts. Your opening of an account with us will be considered to be your consent to set-off against your accounts if any present or future law or regulation requires such consent. We will not be liable for any checks which are not paid because we set-off or otherwise use funds from your account to pay a debt or obligation you owe us. We may use your accounts to pay the debt or obligation even if it results in an interest penalty or return of subsequent checks. You agree to hold us harmless from any claim arising as a result of our set-off.

If Federal benefits or other payments (such as Social Security benefits) are deposited to your account after you are not eligible for such benefits, we may set-off against your accounts to recover any funds we are obligated to return to the payor because of your ineligibility.

Dormant Accounts
If you have not made a deposit to or withdrawal from (including a check) your account for one year, and we have not received anything from you in writing concerning your account during that time, we may consider the account dormant. Your dormant account may be turned over (escheated) to the appropriate government entity pursuant to law if there has been no activity or contact from you for a period of five (5) years. If your account earned interest, we may continue to pay interest on the account after it becomes dormant at a variable interest rate determined by us in our sole discretion. We may change the rate without limit and without notice to you.

Refusal of Deposit, Termination of Account, Termination of Type of Account
At our discretion, we may refuse to accept a deposit, limit the amount of a deposit, or return a deposit. We may also refuse to pay an item, or limit or discontinue permitting withdrawals from your account.

We also reserve the right at any time and in our sole discretion to refuse to open any account, close any account, modify the type of service offered on our accounts, or discontinue, or withdraw offering any particular type account.

Deposit Reclassification of Checking Account (effective October 16, 2018)
Business Checking Accounts consist of a checking sub account and a savings sub account. The Bank may periodically transfer funds between these two sub accounts. On a sixth transfer during a calendar month, any funds in the savings sub account will be transferred back to the checking sub account. If your Account is a Plan on which interest is paid, your interest calculation will remain the same. Otherwise, the savings sub account will be non-interest bearing. The savings sub account will be governed by the rules governing our other savings accounts. This process will not affect your available balance, the interest you may earn, FDIC insurance protection, or your monthly statement.

Closing the Account
We may close your account at any time and for any reason without notice to you. We will mail or deliver to you notice of the closing of your account along with a check to the address in our records. We may close the account on the same day we mail or deliver the notice. You can close your account by giving us fourteen (14) calendar days written notice and by no longer using your account.

We will pay you the balance in your closed account, less any applicable debit items, premature withdrawal penalties, fees, set-offs and other amounts you owe us. If an interest-bearing account is closed before interest is credited, we will pay you the interest unless we have stated that we will not do so as part of the document you signed to agree to the account. Further, for security reasons, we may require you to close your account and to open a new account if (a) there is a change in authorized signers, (b) there has been a forgery or fraud reported or committed involving your account, (c) any account checks are lost or stolen, (d) you have too many transfers (see Limitations on Preauthorized Transfers) from your account, (e) any other provision of our Agreement with you is violated. After the account is closed, we have no obligation to accept deposits or pay any outstanding checks. You will still be responsible for any fees or obligations which arose before your account was closed.

Schedule of Service Charges
Your account may be subject to service charges, minimum balance requirements, and other fees and charges. These are listed in the Fee Schedule and are subject to change. You agree to pay these fees and charges. You agree to pay additional reasonable charges for any services you request which are not covered in the Fee Schedule. We may charge any of your accounts for these charges without prior notice to you.

Verification of Identity and Information
We may from time to time establish requirements for identification that you will need to provide to us when you open new accounts, cash checks or conduct certain other business with us.

We may, at our discretion and at any time, obtain credit reports and otherwise verify information supplied by you when you applied for an account with us or applied for any service we offer. We may obtain credit reports on you at any time for any legitimate business purpose.

Privacy of Account
Your account and its benefits are for your proper use only. No third party or other beneficiary shall have any rights in any account except with your prior written consent. You must not give your account number to any unauthorized person. You agree to take all reasonable steps to keep any unauthorized person from learning your account number or other means of accessing your accounts. This includes but is not limited to making your account number, ATM or Debit Card number, PIN or password accessible to others using a computer or other electronic means or using means that are not secure to transmit such information. If you let an unauthorized person learn your account number or other information necessary to access your account, we will not be liable for any of your losses or damages which result from withdrawals or other uses of your account. If you provide your account number to someone, you authorize us to pay any resulting items presented to us.

Responsibility for Loss
Provided that we act in accordance with the terms of this Agreement and other documents governing your account, you agree that you or your legal representatives will not hold us responsible for any losses, damages, liabilities, costs, and expenses, including reasonable legal fees that arise from the use of your account. You and your legal representatives also agree to reimburse us for all our losses, damages, liabilities, costs, and expenses, including reasonable legal fees, which arise from the use of your account.

Liability
You agree to be liable for all obligations arising out of the ownership and maintenance of your account, including liability for any account shortage, overdrafts and negative balances. This means that each of you is fully and personally obligated under this Agreement whether the obligation is caused by you or another with access to your account. This liability is due immediately, and we can deduct it directly from the balance of any account you have with us. You are liable regardless of whether you signed an item, knew about it, or benefited from a charge or overdraft. Your liability includes our cost of collecting any amount you owe us and, to the extent permitted by law, our reasonable attorney’s fees.

Bank’s Duty of Care and Limitation on Liability
Our responsibility is limited to our exercise of reasonable and ordinary care. We use automated systems to process checks and other transactions. You agree that if these systems are consistent with general banking practice, our use of them constitutes ordinary care and we may not be liable to you for forgeries or alterations or other errors not detected by these systems. We may rely only on information that is magnetically encoded on checks or other items even if this information is different from other information on the check or item. We will not be liable to you or any other person for any loss caused by an event that is beyond our control, such as fire, natural disasters, war, national emergencies, riots, strikes, computer failure, or loss of power, communication or transportation facilities. In no event will we be liable for any indirect, special or consequential damages of any kind or punitive damage even if we were advised that such damages were possible. This limitation on our liability will apply regardless of the form of any suit or action; for example, regardless of whether the claim is based on contract or tort (negligence).

Our obligations and your rights as set forth in this Agreement are the only rights and obligations which govern, and no other warranties are expressed or implied.

Amendment
We can change this Agreement and other documents or agreements that are made as part of this Agreement at any time. We may also change the terms described in any of our disclosures. If the change is not in your favor, we will give you notice at least thirty (30) calendar days before the change will take effect. We will give you notice in writing or by any other method permitted by law. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. This Agreement may not be changed orally.

Waiver of Terms
We may waive enforcing any of the terms of this Agreement on any occasion. Any waiver will not affect our right to enforce any terms with respect to other customers or on other occasions with you. Any waiver will not modify this Agreement.

Interpretation
When you open an account with us you agree that our interpretation of this Agreement, any rules adopted by us from time to time, the terms of your signature card, the terms of the Fee Schedule, other documents which are a part of this Agreement and any of our disclosures is final and binding.

Back-Up Withholding Imposition of Back-Up Withholding
At the time you open your account, you will provide us with a tax identification number (TIN), which you certify as correct under penalty of perjury. In accordance with prevailing law, we will use that number to report any interest earned on your account to the Internal Revenue Service (IRS). If you fail to provide us with a TIN, you do not provide the correct TIN, or you fail to certify the TIN, you may be subject to back-up withholding if the IRS notifies us that the furnished TIN is incorrect, you are notified by the IRS that you are subject to back-up withholding for failing to report all interest and dividend payments on your tax return, or your failed to certify to us that you are not subject to back-up withholding, we are required to withhold and pay to the IRS a percentage of any payment of interest on your account. If we do back-up withhold and later you are no longer subject to back-up withholding, you may have to contact the IRS to obtain a refund of the money withheld.

Notification of Incorrect TIN
We will send you a notice if we are notified by the IRS that your TIN is incorrect. You will then have a period of time as provided by law to provide your current surname and TIN to us. If you do not provide this information within the appropriate time period, we must begin back-up withholding as required bylaw.

Applicable Law
Your account is subject to both state and Federal laws; including the provisions of the Pennsylvania Uniform Commercial Code, the rules and regulations of the Federal Reserve Board and operating circulars of the Federal Reserve Banks, the regulations of Federal Deposit Insurance Corporation, the regulations of state and Federal bank supervisory authorities, and all other applicable state and Federal laws and regulations. Except as is otherwise required by law, your account will be governed by the law of either (a) the state in which your account is maintained or (b) if you opened your account by mail, the Commonwealth of Pennsylvania, regardless of the state of your residence. Your account is also subject to our Articles of Incorporation and by-laws. If any provision of this Agreement is found to be unenforceable, all remaining provisions will continue in full force and effect. All internet transactions are considered to be performed in the Commonwealth of Pennsylvania.

Internet Banking
You agree to be bound by the terms and conditions provided in the Customers Bank Online and Mobile Banking Access Agreement, or any other agreement governing your account or an account related service which occurs over the Internet. You agree that electronic pages, such as the pages of the Customers Bank Web Site and Net, used with your Login ID and Password, are the legal equivalent of hard copy written documents. You agree that your “clicking” on any “buttons” stating “I agree”, “Accept”, or “buttons” with similar intent, shall have the same legal effect as if you had placed your signature by hand on hard copy versions of such electronic pages. By clicking on such buttons you agree to be legally bound with us to the content on any such pages. You are encouraged to download or print for your future reference copies of all relevant electronic pages from the Customers Bank Web Site.

Telephone Banking
You may access your deposit accounts by using a separate personal identification number (PIN) assigned to you and your account number in our audio response system. At the present time you may use the system to:

Bill Pay
You may access Bill Pay services web site by logging onto Customers Bank Online Banking site, clicking the Bill Pay button and accepting the bill pay agreement presented which is required to use this service. At the present time you may use the service to:

Unlawful Internet Gambling Enforcement Act
The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined by the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made.”

As a customer of Customers Bank, theses restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.

Cash Management Agreements
As part of some cash management agreements, a proposal with terms and conditions for one or more of your accounts may have been provided and agreed to by you. The terms contained within any such proposal are in addition to the terms of this agreement. If any term of the proposal is inconsistent with any term of this agreement, the terms of the proposal shall control with respect to matters relating to any accounts referenced in the proposal.

Specific Product Terms
This section covers specific types of business deposit accounts that we offer. The terms contained within each section are in addition to the terms listed above. If any term of this section is inconsistent with any term of the Bank Account Agreement above, the terms of this section shall control with respect to matters relating to the Account.

Escrow Accounts

Common Features and Terms of Escrow Accounts
An Escrow Account is an account that you establish to hold funds in custody for a third party who is the beneficial owner of the funds. Customers Bank offers two types of escrow accounts.

Bank as Depository
Our responsibility with respect to the Escrow Account is solely that of a depository institution and not that of an escrow agent, trustee or other fiduciary, and you acknowledge that we may, without inquiry, permit any or all funds deposited into the Escrow Account, together with interest payable thereon, if any, to be withdrawn by you, the Escrow Agent.

Taxpayer Identification Numbers and Reporting of Interest Earned
You are solely responsible for the proper and accurate reporting of any interest earned on the Escrow Account, including any sub-accounts, to the Internal Revenue Service (“IRS”). You acknowledge that the IRS requires us to obtain the Taxpayer Identification Number (TIN) for the Escrow Agent at the time the Escrow Account is established and for each Escrowee at the timea Sub-account is opened. You agree to provide these TINs by furnishing the Bank with an IRS form W-9 signed by the Escrow Agent, with respect to the Escrow Agent’s TIN, and by each Escrowee, with respect to that Escrowee’s TIN or the appropriate form W-8 if the Escrowee is not a U.S. person as defined by IRS regulations. You acknowledge that the only person who may legally sign the Form W-9 or W-8 is the beneficial owner of the escrowed funds, and you represent and warrant to us that you shall not cause it to be signed by any person other than the beneficial owner. You shall also provide us, promptly upon our request, with any and all information and documentation that we in our sole judgment deem necessary in order to verify the escrow relationship, your identity, and the identity of each beneficial owner. You agree that all interest earned on the Escrow Account will be accrued for the benefit of and paid to the beneficial owner as required by applicable law, except for deductions that you may lawfully be permitted to make.

Compliance with Law
You acknowledge that you are not permitted to, and you represent and warrant to us that you shall not, commingle your own funds or the operating funds of your business with the funds of the beneficial owner, at any time during the term of this Agreement, even temporarily. You further agree to transfer funds into and out of the Escrow Account, and conduct all other transactions relating to the Escrow Account, only in strict and full compliance with applicable law. You acknowledge and agree that it is your responsibility to fully inform yourself about applicable law and any changes thereto, including, without limitation, applicable IRS laws and regulations.

IRS Form 1099-INT
We will prepare for you the IRS Form 1099-INT, as required by applicable law, for the interest earned by each beneficial owner, and we will mail the Form 1099-INT to the address that you have specified for that purpose in our records. If you are furnishing the Form 1099-INT to the beneficial owner, you agree that it shall be your sole responsibility to do so by the required IRS due date. If any Form 1099-INT is returned to us for incorrect address or any other reason, it shall be your responsibility to reconcile and appropriately resend or forward the Form 1099-INT to the beneficial owner.

Disputed Funds
You agree that you will not deposit any disputed funds into the Escrow Account, and that if any funds in the Escrow Account become disputed, we may restrict or release any or all of such disputed funds, as we in our sole and absolute discretion deem appropriate.

Escrow Agent’s Warranties and Assumption of Liability
The Escrow Agent represents and warrants to the Bank that it has the authority to deposit and withdraw funds on behalf of each Escrowee to and from the Escrow Account and assumes all responsibility and liability for ensuring that each Escrowee’s funds in the Escrow Account are only transferred to an Account or Sub-account in the name of that Escrowee or disbursed for the benefit of or on behalf of that Escrowee.

Reporting To The Lawyer’s Fund (IOLTA/IOLA) For Client Protection
If the Escrow Agent is an attorney or law firm and any check drawn on the Escrow Account is not paid by the Bank because of insufficient available funds or because of any other reason required by applicable rules, then the Bank shall, without notice to the Escrow Agent, report such dishonor to the Lawyers’ Fund for Client Protection and/or any other organization or committee having the responsibility for disciplining lawyers in accordance with their rules and provide the Fund, organization and/or committee additional information concerning the Escrow Account. The Escrow Agent consents to the above, releases the Bank from any liability and agrees to indemnify the Bank against any and all claims that a client of the Escrow Agent or anyone else may have as a result of such notification and the providing of such information to the Fund, organization and/or committee.

You are responsible for keeping records of all client funds in the IOLTA/IOLA Account and for providing participation, registration, and/or enrollment forms to us and to the appropriate State Board, in accordance with applicable state law. Any interest earned on IOLTA/IOLA Accounts is tax-exempt, and therefore neither you nor the client will be named as a recipient on any IRS Form 1099, and you are not required to prepare or file Form 1099.

Indemnification of Bank
In addition to any indemnification of the Bank contained elsewhere in this Agreement, the Escrow Agent agrees to indemnify, defend and hold harmless the Bank and its agents from, and against, any and all claims, actions, lawsuits and other proceedings, and liabilities, losses, costs, damages, penalties and expenses of any kind and nature which are incurred or sustained by the Bank as a result of (i) the Escrow Agent depositing funds into the Escrow Account (ii) allocating Escrowee funds between the Sub-accounts and Master Sub-account or withdrawing those Escrowee funds from the Master Account, (iii) the Bank paying and reporting interest earned on the Sub-account or Standalone Escrow Account in the manner requested by the Escrow Agent, and reporting that interest to the IRS as interest earned in the calendar year in which the interest was credited to that Account, (iv) any Escrowee’s property exchange failing to qualify for favorable tax treatment under U.S. federal or state tax law as a Deferred Exchange, (v) the Escrow Agent failing to obtain a W-8, W-9 or substitute W-9 signed by the Escrowee, an incorrect or improperly signed W-8, W-9 or substitute W-9 or the Bank paying and reporting interest earned on the Standalone Escrow Account or Sub-accounts or (vi) the Escrow Agent or any System User failing to comply with this Agreement.

This indemnification shall survive the termination of this Agreement.

Business Visa Check Card And ATM Card Agreement

In this Agreement, the “Bank” means Customers Bank. “You” or “your” means the corporation, partnership, limited liability company, limited liability partnership, unincorporated association, sole proprietorship, organization or entity that obtains the Business Visa Check Card or the ATM card (the “Card”). By using your Card or by permitting your employee, agent, representative or any other person to use it, you agree to the following:

1. You represent and warrant to the Bank that the Card will be used only for business, commercial or agricultural purposes and not for personal, family or household purposes. You agree that you are not a “consumer” within the meaning of the Federal Electronic Fund Transfer Act (the “Act”) and Federal Reserve Regulation E (“Regulation E”) and that the Act and Regulation E do not apply to any dispute arising between you and the Bank.

2. You will only permit authorized persons to use the Card. You will exercise reasonable care in safeguarding the Card and its Personal Identification Number (“PIN”). Under no circumstances will you either (a) permit the Card and/or its PIN to be accessible to your employees or others who are not authorized to use the Card and PIN; (b) write or affix the PIN on the Card or on any other document or material accessible to employees or others who are not authorized to use the Card, or (c) make the PIN known to any Bank employee. All withdrawals and purchases made by the use of the Card are conclusively deemed to be authorized by you. You hereby assume the entire risk of loss resulting from unauthorized transactions or the unauthorized use of the Card.

3. You may use your Card at ATMs bearing the NYCE® or PLUS® logos to: (i) withdraw cash from your accounts; (ii) make deposits to your accounts, (iii) transfer funds between your accounts; (iv) determine the available balance in your accounts; (v) pay for purchases at places that have agreed to accept the Card, and (vi) perform any additional services offered by the ATM. Some of these services may not be available at all ATMs or terminals. For security reasons, there are limits on the number and dollar amount of withdrawals and transfers you can make.

4. The Bank’s current fees are listed in its Fee Schedule. You may also be charged a withdrawal fee (sometimes called a "surcharge") for cash withdrawals or other transactions at some ATMs. This fee or surcharge is imposed by the ATM owner or operator and is beyond the Bank's control. This charge will be in addition to any fees the Bank may impose.

5. All deposits and payments placed in an ATM will be verified against the amount keyed in at the ATM. If the amount entered is different from the contents found, the Bank will adjust the deposit or payment amount to agree with the amount of cash and/or checks actually found in the ATM. Recent deposits may not be available or appear available in response to a balance inquiry.

6. The Bank is not liable if an ATM fails to work or if a merchant fails to process a transaction request.

7. You will notify the Bank promptly after the discovery that either (a) unauthorized transactions have or may have been made through the use of the Card, (b) the Card and/or PIN is missing or otherwise unaccounted for, or (c) the confidentiality of the PIN has been compromised. Notice will be given by telephoning 1-866-476-2265 or by writing to Customers Bank, 99 Bridge Street, Phoenixville, Pennsylvania 19460. Notice will be deemed given when it is actually received by the Bank.

8. The Card is the property of the Bank, is not transferable, may be revoked at any time and must be surrendered to the Bank upon demand.

9. The Bank may amend this Agreement, effective 21 days after notice of the amendment is sent to you.

10. In the event of any inconsistency between this Agreement and the terms of the deposit account agreement between you and the Bank, then the terms of this Agreement shall control.

11. This Card is issued in Pennsylvania. All transactions and other matters concerning this Card are governed by Pennsylvania law without giving effect to its principles of conflicts of law.

Funds Availability Disclosure

We provide you with timely access to your funds that you deposit in your checking account in accordance with the Expedited Funds Availability Act (“EFA”), which is implemented by the Federal Reserve Board to establish maximum check clearing guidelines.

Determining the Availability of a Deposit
The length of the delay in availability is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays and bank holidays. If you make a deposit during regular branch hours on any business day, we will consider that day to be the day of your deposit. However, if you make a deposit after regular branch hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open. The length of the delay varies depending on the type of deposit as explained below. Our funds availability policy complies with Federal Reserve Board Regulation CC, which shall apply in the event of any dispute or inconsistency.

Same-Day Availability
Funds from the following sources are available on the same business day as the day we receive your deposit:

Next-Day Availability
If you make a deposit in person and present it to one of our employees, funds from the following sources are available on the next business day after the day we receive your deposit:

If your deposit is not made in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available no later than the next business day after the business day on which the deposit is received.

ATM Funds Availability
If you make a deposit at an ATM before 7:00 p.m. on a business day that we are open, we will consider that day to be the day of deposit and the funds will be available for withdrawal on the first business day thereafter. However, if you make a deposit at a Customers Bank ATM after 7:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open and the funds will be available for withdrawal on the first business day after that. Note: Transactions conducted on non-business days are considered to have been made on the following business day. For instance, 12:00 a.m. Saturday through 11:59 p.m. Monday is considered to be a single business day and any transactions conducted during that time are considered to have been done on Monday’s date.

Longer Delays May Apply
We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:

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:

Substitute Checks and Your Rights
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.

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.

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 Customers Bank, Customer Service, 99 Bridge Street, Phoenixville, PA 19460 or call 866-476-2265, Monday through Friday from 8:00 am to 5:00 pm EST. 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 —

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