Making Informed Decisions About Your Accounts

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 (APY) 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

Free 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 $10.00
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 N/A
Convenience 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 $10.00
In order to avoid a fee, you must maintain In any combination among all your deposit accounts and/or your outstanding balances on your mortgage and consumer loans, an average total balance of $5,000 for each statement period. If you do not, a monthly $29 fee will be assessed.
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 N/A
ATM Fee Refunds ATM fees incurred within the United States will be refunded when your statement is created provided you maintain, in any combination among all your deposit accounts and/or your outstanding balances on your mortgage and consumer loans, an average total balance of $5,000 for each statement period.
Bonus Checking
The interest rate on your account is 0.25% , 1.98% if signature point of sale monthly amount is $500 or more*
The annual percentage yield is 0.25% , 2.00% if signature point of sale monthly amount is $500 or more *
Can the interest rate and annual percentage yield change? Yes, at any time after February 23, 2018
The interest rate is determined Bank discretion
We may change the interest rate on this account Yes*
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 posted.
To open this account, you must deposit a minimum of $10.00
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 which an item is deposited
Information regarding fees you may be charged Is located in the Customers Bank Fee Schedule

SEE IMPORTANT INFORMATION BELOW
*The Bonus Checking Account earns "bonus" interest when the associated Visa Debit Card signature based purchases equal $500 or more for the statement cycle period. To be eligible to open this account, new money is required (money not currently on deposit with Customers Bank). The "bonus" APY of 2.00% will be guaranteed through February 23, 2018 and be calculated on the daily balance in the account and posted on the last day of the statement cycle. After that date the bonus APY will only be earned when the Visa Debit Card signature based purchases equal $500 or more during the statement cycle beginning February 24, 2018. The "Bonus" APY of 1.75% will be calculated on the average daily balance for the statement cycle and credited on the statement cycle ending date for average daily balances up to $100,000.99. During statement cycles when the Visa Debit Card signature purchases do not total $500 or more, the Bonus checking account will earn 0.25% APY calculated on the daily balance and credited on the statement cycle ending date. Bonus Checking is a variable rate account and the account interest rate and APY may change after February 23, 2018 without notice including the bonus interest rate and APY. Fees may reduce earnings. Limit of one Bonus Checking account per tax identification number.

Money Markets & Savings

Money Market (will change May 15, 2018 to product below)
The interest rate on your account is
  • If your daily balance is $9,999.99 or less, the interest rate paid on the entire balance will be 0.40%.
  • If your daily balance is $10,000.00 or greater, the interest rate paid on the entire balance will be 0.50%.
The annual percentage yield is
  • If your daily balance is $9,999.99 or less, the yield will be 0.40%.
  • If your daily balance is $10,000.00 or greater, the yield will be 0.50%.
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 A minimum of $1,000.00 at all times. If you do not, a monthly fee of $5.00 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 which an item is 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.
Money Market As of May 15, 2018
The interest rate on your account is
  • If your daily balance is $50,000 or less, the interest rate paid on the entire balance will be 0.50%.
  • If your daily balance is $50,001 up to $100,000, the interest rate paid on the entire balance will be 0.75%.
  • If your daily balance is $100,001 up to $250,000, the interest rate paid on the entire balance will be 1.00%.
  • If your daily balance is $250,001 or greater, the interest rate paid on the entire balance will be 1.24%.
The annual percentage yield is
  • If your daily balance is $50,000 or less, the yield paid on the entire balance will be 0.50%.
  • If your daily balance is $50,001 up to $100,000, the yield paid on the entire balance will be 0.75%.
  • If your daily balance is $100,001 up to $250,000, the yield paid on the entire balance will be 1.00%.
  • If your daily balance is $250,001 or greater, the yield paid on the entire balance will be 1.25%.
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 A minimum of $1,000.00 at all times. If you do not, a monthly fee of $5.00 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 which an item is 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.
Promo Money Market (ONLY AVAILABLE IN BRANCH)
For the period of 6 months from the date of account opening, the interest rate on your account is 1.49% (1.98% only available at Hamilton, Yardley, Doylestown, Langhorne branches)
For the period of 6 months from the date of account opening, the annual percentage yield is 1.50% (2.00% only available at Hamilton, Yardley, Doylestown, Langhorne branches)
After the first 6 months from account opening, account will change to a Money Market and the interest rate on your account is
  • If your daily balance is $50,000 or less, the interest rate paid on the entire balance will be 0.50%.
  • If your daily balance is $50,001 up to $100,000, the interest rate paid on the entire balance will be 0.75%.
  • If your daily balance is $100,001 up to $250,000, the interest rate paid on the entire balance will be 1.00%
  • If your daily balance is $250,001 or greater, the interest rate paid on the entire balance will be 1.24%.
After the first 6 months from account opening, your account will change to a Money Market and the annual percentage yield on your account is
  • If your daily balance is $50,000 or less, the yield paid on the entire balance will be 0.50%.
  • If your daily balance is $50,001 up to $100,000, the yield paid on the entire balance will be 0.75%.
  • If your daily balance is $100,001 up to $250,000, the yield paid on the entire balance will be 1.00%.
  • If your daily balance is $250,001 or greater, the yield paid on the entire balance will be 1.25%.
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 A minimum of $1,000.00 at all times. If you do not, a monthly fee of $5.00 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 which an item is 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.
Additional Limitations To be eligible to open this Promotional Money Market account new money (funds not currently on deposit with Customers Bank) is required.
Retirement Savings Account
The interest rate on your account is 0.40%
The annual percentage yield is 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 of $100 at all times. If you do not, a monthly fee of $5 will be assessed.
In order to earn the annual percentage yield, you must maintain A minimum balance of $50.00 at all times.
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
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.
Reserve Savings
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 $10.00
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 which an item is 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.

Certificates of Deposit (CDs) & Individual Retirement Accounts (IRAs)

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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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 & IRA 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.
36 Month IRA 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 & IRA 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 & IRA 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.

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".

What Does Customers Bank Do With Your Personal Information?

Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security number and transaction history
  • Account balances and transaction or loss history
  • Payment history and credit history
How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Customers Bank chooses to share; and whether you can limit this sharing. When you are no longer our customer, we continue to share your information as described in this notice.
Reasons we can share your personal information Does Customers Bank share? Can you limit this sharing?
For our everyday business purposes –
Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
Yes No
For our marketing purposes –
to offer our products and services to you
Yes No
For joint marketing with other financial companies Yes No
For our affiliates’ everyday business purposes – Information about your transactions and experiences Yes No
For our affiliates’ everyday business purposes – Information about your creditworthiness No We don’t share
For nonaffiliates to market to you No We don’t share
Questions? Call 1-866-476-2265 Monday through Thursday 9:00 am to 5:00 pm EST, Friday 9:00 am to 5:30 pm, or go to http://customersbank.com/privacy.php.
Who We Are
Who is providing this notice? Customers Bank
What We Do
How does Customers Bank protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards, encryption, and secured files and buildings. We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.
How does Customers Bank collect my personal information?

We collect your personal information, for example, when you:

  • Open an account
  • Make a wire transfer
  • Apply for a loan
  • Show your driver’s license
  • Provide account information

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only:

  • Sharing for affiliates’ everyday business purposes – information about your creditworthiness
  • Affiliates from using your information to market to you
  • Sharing for nonaffiliates to market to you
Definitions
Affiliates

Companies related by common ownership or control. They can be financial and non- financial companies.

  • Our affiliates include companies with a common corporate identity of Customers Bank.
Nonaffiliates

Companies not related by common ownership or control. They can be financial and non- financial companies.

  • Customers Bank does not share with nonaffiliates so they can market to you
Joint Marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners may include credit card companies, companies that sell non-deposit investment products and other financial service companies with whom joint marketing efforts would be mutually beneficial.

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. All times within this disclosure are listed as EST.

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 a Customers Bank 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 you 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 calendar 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 —

Electronic Funds Transfer Disclosure

This section provides information and notifies you of certain rights you have under the Electronic Funds Transfer (“EFT”) Act.

Automated Teller Machine (ATM) Services
You understand that you may use your VISA Debit Card (“Card(s)”) at an ATM to (1) withdraw cash from your account(s), (2) effect transfers between your account(s), (3) make cash or check deposits at Customers Bank ATMs (4)receive information regarding the balance of your account(s) (5) perform actions as we may expressly authorize.

You may use ATMs throughout the United States bearing the NYCE or PLUS system logos and in certain foreign countries which bear the NYCE or PLUS system logos to (1) make withdrawals from, (2) effect transfers to or from, or (3) receive information regarding the balance in your checking or savings account(s) linked to your Card designated as the primary account of such type on your application form. There may be some limitations on transactions available at ATMs in foreign countries.

Fees and Charges for ATM Transactions
For ATM transactions conducted at an ATM owned or operated outside of the U.S., an International Service Assessment (ISA) fee will be assessed to your account, equal to either .80% or 1.0% of the ATM transaction amount settled in U.S. Dollars.

ATM Fees
When you use an ATM not owned by us, you may be charged a fee by the ATM operator (“Surcharge fee”), and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer. Please note that if you use an ATM in a foreign country, there may be a difference in the withdrawal amount from the amount deducted from your account based on the conversion rate used when conducting your transaction and an International Service Assessment (ISA) fee may also apply.

Our VISA Debit Services
In addition to the ATM Services described above, you may use the Visa Debit Card to purchase goods and services (“Purchases”) at any retail, online, virtual, etc., establishment (“Merchant”) where such Merchant accepts such Cards and participates in the Visa or NYCE payment networks, or request a Cash Advance at a participating financial institution. If you use the Card(s) to make a Purchase or Cash Advance, you shall be requesting us to withdraw funds in the amount of such Purchase or Cash Advance from the account designated as the primary checking account linked to your Card and ordering us to pay such funds to the Merchant and/or financial institution. See Holds section for additional information. You may or may not be required to use your Personal Identification Number (“PIN”) for these transactions. For Purchase or Cash Advance transactions conducted at any Merchant or Financial Institution owned or operated outside of the U.S., an International Service Assessment (ISA) fee maybe assessed to your account, equal to .80% or 1.0% of the Purchase or Cash Advance amount settled in U.S. Dollars.

Holds
Regardless of the Card or Account used, we may place a hold on the funds available in the account used for the transaction and any available overdraft protection account that may be necessary to cover the transaction. The hold will be in the amount of the transaction request that has been submitted by the payment network. These funds will not be available for withdrawal from your account in cash, for payment of checks that you have written on your checking account, or for any other use during the period that the hold is in effect. For most transactions, it can take up to five (5) calendar days after the transaction is conducted to settle the transaction through the payment network and post the transaction to your account, however, a longer period may be required.

Record of Transaction
You may receive a printed receipt from each ATM location or Merchant at the time of the transaction. You will receive a monthly statement showing the transactions made during the past month and any charges that were imposed for such services or transactions.

Terminal Transfers
You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less.

Foreign Transaction-Currency Conversion
When you use your Visa-branded debit card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either:

The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or processing date. This 1% adjustment is made for all international transactions regardless of whether there is a currency conversion associated with the transaction.

Limitations on the Uses of Consumer VISA Debit and ATM Card
All limits expressed in this section are daily limits. The day for purposes of applying these limits starts at 12:00 am and ends at 11:59 pm EST each calendar day.

Limits for Visa Debit Cards are as follows:
  • Aggregate/Cap $2,5001
  • ATM Cash Withdraw $510
  • Point of Sale Purchase w/PIN $1,5002
  • Point of Sale Purchase w/out PIN $1,5002
  • Cash Advance $500
Limits for ATM Cards are as follows:
  • ATM Cash Withdraw $510
  • Point of Sale Purchase w/PIN3 $500
  • Aggregate/Cap $1,010

1 For Business debit cards, this limit is $3,000
2 For Business debit cards, this limit is $2,500
3 Requires the card be linked to a checking account.

Certain limitations may be imposed on the frequency of use of the Visa Debit or ATM card each day. These limitations are not revealed for security reasons.

The Bank reserves the right to reduce any Card limit for any reason, or block a Card for all use, without prior notice, and may also block access at any ATM location, Merchant location or type, etc., as deemed necessary and primarily for risk and/or fraud control purposes. Further, your ATM Withdrawal, Purchase or Cash Advance limits may be reduced or higher than stated above. Please contact the Bank if you have any questions about your limits and/or usage capabilities.

Internet gambling may be illegal in the jurisdiction in which the cardholder is located, including locations within the United States. VISA cards may only be used for legal transactions. Display of a payment card logo by an online merchant does not mean that Internet gambling transactions are lawful in all jurisdictions in which the cardholder may be located.

Use of Personal Identification Number (“PIN”) with the Card
You acknowledge that the Personal Identification Number or PIN which you use with the Card(s) is your signature and identifies the bearer of the Card(s) to the payment system. You acknowledge that your PIN is an identification code that is personal and confidential and that the use of the PIN with the Card(s) is a security method by which we are helping you to maintain the security of your account(s). Therefore, YOU AGREE TO TAKE ALL REASONABLE PRECAUTIONS SO THAT NO ONE ELSE LEARNS YOUR PIN.

Consumer Debit Card/Atm Card Holder Agreement And Disclosure Statement

Consumer Liability for Unauthorized Transactions/Transfers
You agree to contact us immediately if you believe the Card(s) and/or PIN have been lost or stolen and/or money is missing from your account(s). You also agree that if your monthly statement shows transactions which you did not make, and you do not contact us within sixty (60) calendar days after the statement was mailed or made available to you, you may not get back any money lost after that time.

YOU AGREE THAT IF YOU GIVE YOUR CARD(S) AND PIN TO SOMEONE ELSE TO USE, YOU ARE AUTHORIZING THEM TO ACT ON YOUR BEHALF AND YOU WILL BE RESPONSIBLE FOR ANY USE OF THE CARD(S) BY THEM.

You could lose all your money in the account(s), including the available balance in your overdraft protection account(s), if you take no action to notify us of the loss of your PIN, ATM card or VISA Debit Card. If you notify us of the loss, your liability for unauthorized transactions will be as follows:

  1. If you contact us within two (2) business days of the loss or your discovery of the loss, your loss will be limited to $50 if someone used your ATM card or VISA Debit Card without your permission.
  2. If someone used your ATM card or VISA Debit Card without your permission, your loss could be as much as $500 if you do not contact us within two (2) business days after you learn of the loss and we can establish that we could have prevented the loss if you had contacted us.
  3. If your monthly statement shows transfers or ATM or VISA Debit Card Purchases you did not make and you do not contact us within sixty (60) calendar days after the statement was mailed or made available to you, you may not get back any money lost, if we can establish that your contacting us would have prevented those losses.

Error Resolution Notice:
In Case of Error or Questions about your Transactions

You agree to contact us as soon as you can if you think your statement or receipt is wrong or if you need more information about the transaction listed on the statement or receipt. We must have a signed dispute from you no later than sixty (60) calendar days after we sent or made available to you the Customers Bank statement on which the problem or error appeared. You must provide us with the following information in writing:

  1. Tell us your name, account number and ATM or VISA Debit Card number
  2. Describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error and/or why you need more information: and
  3. Tell us the dollar amount of the suspected error. If the amount of the discrepancy is less than one dollar, your account will not be adjusted.

If you tell us orally, we require that you send your complaint or questions in writing within ten (10) business days to us. We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or questions for domestic ATM transactions and up to ninety days (90) for international ATM transactions or VISA purchases. If we decide to do this, we will re-credit your account within the ten (10) business days for the amount you think is in error as a provisional credit, so you have use of the money during the time it takes us to complete our investigation.

We may not re-credit your account if the transaction was an ATM deposit made by check, draft, or similar paper instrument.

Rules for New Deposit Customer accounts; we will tell you the results of our investigation within twenty (20) business days. If we need more time, however, we may take up to ninety (90) days to investigate your complaint or question. If we decide to do this, we will re-credit your account within (20) business days. You are considered a new deposit customer during the first 30 days after you establish an account at Customers Bank.

If we decide that there is no error, we will send you a written explanation within three (3) business days after we finish our investigation. If we credit your account with funds while investigating an error, we will reverse that credit if we concluded no error has occurred. You are responsible for full repayment of these funds to us.

How to Contact Us
If you believe that your Card(s) and/or Personal Identification Number (PIN) has been lost or stolen, please contact us immediately by calling the following number.

ATM or Debit Cards: 1-866-476-2265

Charges/Fees
You agree to pay the charges or transaction fees that are charged for Electronic Funds Transfer Services we currently offer or which may be offered at a later date; such fees or charges may be imposed or changed from time to time (See Fee Schedule).

Liability
If a Card(s) is issued for a joint account(s) you agree to be jointly and separately liable under the terms of this agreement.

You agree that if you make deposits or payments to your account(s) with items other than cash and we make funds available to you from such deposits before we collect them, we may deduct the amounts of such funds from your account(s) that are not collected. If the funds in your account(s) are insufficient at such time, you will promptly pay to us any amount of such funds that are not collected, plus any fees you may owe us in accordance with our the current Fee Schedule.

Our Liability for Failure to Complete an Electronic Funds Transfer Transaction
If we do not complete a transaction on time or in the correct amount, when properly instructed by you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable for instance, if:

  1. There is not enough money in your account to complete the transaction through no fault of ours
  2. The funds in your account are unavailable
  3. The funds in your account are subject to legal process
  4. The transaction you request would exceed the funds in your account plus any available overdraft protection
  5. The ATM has insufficient cash to complete the transaction
  6. Your Card(s) has been reported lost or stolen or your Card(s) privileges have been suspended and you are using the reported/suspended Card(s)
  7. We have a reason to believe that the transaction requested is unauthorized
  8. The failure is due to an equipment breakdown or software malfunction which you knew about when you started or initiated the transaction using an ATM or Merchant terminal
  9. The failure was caused by an act of God, fire, flood or other catastrophe, or by an electrical or computer failure or communication malfunction or by another cause beyond our control
  10. You attempt to complete a transaction using an ATM or Merchant terminal which is not a permissible transaction under this Agreement
  11. The transaction would exceed security limitations on the use of your VISA Debit Card(s), or the location, merchant, ATM, etc., has been blocked for use based on fraud monitoring rules that the bank uses
  12. We did not receive a direct deposit instruction
  13. You did not provide us with the correct names or account information for those persons or entities to whom you wished to direct payment

There may also be other exceptions not specifically mentioned above. In any case, we shall only be liable for actual proven damages if the failure to make the transaction resulted from a bona fide error despite our procedures to avoid such errors.

Limitation of Our Liability
Unless otherwise required by law, we will not be responsible for any losses or damages, including direct, indirect, special or consequential losses or damages, from your participation in or use of any goods or services purchased using any of the cards and services described in the VISA Debit Card and ATM Card Cardholder Agreement and Disclosure Statement.

Confidentiality
We will only disclose information to third parties about your account or the transfers you make:

  1. Where it is necessary for completing transfers, or
  2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
  3. In order to comply with government agency or court order, or
  4. If you give us your written permission

Amendment of this Disclosure
You agree that from time to time we may amend or change the terms of this Disclosure including amendments or changes to add more Card services. We will notify you in writing of any change in a term or condition required to be disclosed under the Electronic Fund Transfer Act at least thirty (30) days prior to the effective date of such amendment or change. Your use of the Card(s) after the effective date of such amendment or change shall constitute your agreement to such amendment or change.

Ownership
You agree that any Card is our property and you will surrender if to us upon our request.

Other Electronic Funds Transfers – Preauthorized Payment
If you have told us in advance to make regular payments from your account, you can stop any of these payments. Call or write us using the phone number or address in the Section titled “How to Contact Us” in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call. We will charge you for each stop payment order you give. Please refer to Fee Schedule for the amount. If you order us to stop one of these payments three (3) business days or more before the transaction is scheduled and we do not do so, we will be liable for your losses or damages, but not indirect, special or consequential losses or damages. Notice of Varying Amounts: If these regular payments may vary in amount, we or the payee will tell you, 10 days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

Electronic Funds Transfer Services Offered
Deposits

You can arrange to have deposits made automatically to your account. Social Security payments, other government payments as well as your wages or salary are examples of such deposits.

Withdrawals
You can also arrange to have certain withdrawals, such as Life Insurance premiums, made automatically from your account.

Consumer Liability
If you fail to report within sixty (60) days of the transmittal of your statement any unauthorized transfer that appears on the statement, your liability will not exceed:

How to Notify Us
If you believe that someone has transferred or may transfer money from your account without your permission, call 1-866-476-2265 during normal business hours or write us at Customers Bank, 99 Bridge Street, Phoenixville, PA 19460.

Business Days
Our business days are Monday through Friday. Holidays are not included.

Types of Automatic Transfers
You may have deposits made to checking, savings, interest checking or money market accounts. You may transfer funds between your checking, savings, interest checking or money market accounts. You may have payments made from your checking, savings, interest checking or money market accounts.

Charges for Transfers
Please refer to the Fee Schedule for any fees relating to transfers. You need to be aware that federal regulations have set the maximum number of preauthorized transfers to six in your savings or money market account in any statement period.

Documentation of Transfer

Other EFT Transactions
You may access certain account(s) you maintain with us by other EFT transaction types as described below.

Electronic Check Conversion
You may authorize a merchant to use your check as a source of information to initiate an EFT from your account. Electronic check conversion is a payment process in which a merchant (after obtaining your authorization) uses your check to gather routing, account, and check number information to initiate a one-time EFT. This type of EFT transaction involving a consumer account is covered by the Electronic Funds Transfer Act and this disclosure. A description of the transaction will appear on your statement.

Re-Presented Check Transactions and Fees
You may authorize a merchant to electronically collect a fee associated with the re-presentment of a check that is returned due to insufficient or unavailable funds. The resulting fee transaction if debited as an EFT from a consumer account is covered by the Electronic Funds Transfer Act and this disclosure.

Debit Card Security Tips

When using your card at an ATM:

If you have any questions or concerns regarding this disclosure please call us at 610-933-2000 or visit one our branch locations.

Customers 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. These services include, but are not limited to, Online Banking, Mobile Banking, Bill Payment, Person to Person and other services. Additional details on these services is available at www.customersbank.com. The terms “you” and “your” refer to the account holders or any of them and anyone else with authority to conduct transactions on or exercise control over the account. Your account is also governed by the signature card you signed, the Truth In Savings Disclosure and any other applicable disclosures. If you opened a certificate of deposit, it will also describe certain terms and conditions regarding such account.

You should keep 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 retail only versions of the documents when you receive them.

Scope of Agreement
This Agreement covers all types of retail deposit accounts that we offer, now or in the future, including checking account type products, retirement accounts, 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 stated to the contrary in the truth in savings disclosure which describes your account(s), interest begins to accrue on the day of deposit.

Account Ownership and Signature Requirements
Individual Account

An individual account is an account in the name of only one person. Only that person may write checks or withdrawal funds from the account, regardless of who actually owns the account funds. Upon that person’s death, we will pay the funds in the account in accordance with the appropriate documents presented to us.

Joint Account
If your account is a joint account, any one of you may conduct all transactions on your account. 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.

If your account is a joint account with no survivorship (as tenants in common), and one of you dies, we may freeze the account until we receive documents satisfactory to us instructing us how to treat the account. Generally, the deceased owner’s equal share of the account will pass to his or her estate and not the surviving owner. If your account is a joint account with survivorship, when one of you dies, the account will be owned by the surviving owner(s).

Irrevocable Trust Account
If you have established a formal trust for someone else under a will or written trust agreement, you agree to perform all your duties as trustee for the account as required by law. If you die or are replaced as trustee, we will not release any funds until all required legal documents have been delivered to us and all other legal requirements have been met.

Revocable Trust Account
A revocable trust account may be opened without a written trust agreement. The account is in the name of one or more of you for the benefit of one or more persons you name as beneficiaries. The beneficiaries cannot withdraw funds from the account unless all of you die and the beneficiary is then living. If two or more beneficiaries survive, the Bank will pay the funds in account in equal shares to the beneficiaries. The funds in the account will not be inherited by your heirs or controlled by your will. If this account is owned by more than one of you, you will be subject to the joint account rules stated above.

Custodian Account
You may make a gift or transfer of money to a minor under state law by opening an account in the name of the minor with you or another adult listed as custodian. Your rights and duties as custodian are governed by the Uniform Gifts To Minors Act (“UGTMA”) or Uniform Transfer to Minors Act (“UTMA”) of the state where you reside at the time you open the account. Thus state law will also determine how the account balance will be handled upon the Custodian’s death, resignation or removal. Only the Custodian is authorized to act on the account. Custodial accounts may only exist until the minor reaches age 21.

Fiduciary Account
A fiduciary account is an account established by you as a trustee, guardian, executor or administrator under a written agreement or court order. You act as a fiduciary under this account. Upon your death, we will pay the account balance in accordance with the terms of any appropriate legal documentation presented to us or upon the instructions of any successor fiduciary. A successor fiduciary must first present to us the appropriate documentation establishing their appointment as the successor fiduciary.

Power of Attorney
We may, but are not required to, recognize any power of attorney you present to us where you appoint another person to act on your account. If we accept a power of attorney, any action we take will be binding on you if we take action before we receive: (1) a signed written revocation of the power of attorney; or (2) a certified copy of your death certificate; or (3) if the power of attorney is non-durable, a certified copy of a court order declaring you incapacitated or appointing a guardian for you.

Transfer of Ownership
If you wish to add an owner to, remove an owner from, or otherwise change ownership of an account, we may require that the account be closed and a new account opened in the name(s) of the new owner(s). If your account is a joint account, we may also require all owners’ written consent. 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 Customers Bank automated teller machines (ATMs) that accept deposits to your account. You may not make deposits at ATMs not owned by Customers Bank. 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.)

Posting Order
At the end of each business day we process transactions to your account. The chart below describes the order in which we post transactions to your account during nightly processing.

Deposits Posted in order received (time stamp order)
Withdrawals (including check clearing) Posted after all Deposits in order received (time stamp order)

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.

De Minimis Non-Sufficient Fund (NSF) Fees
The de minimis amount for NSF fee assessment is $20 negative available balance. When the ending balance is negative $20 or less, the presented items will generally be paid and no NSF fee will be assessed.

Example:
Available balance in checking account: $40
Items present for payment:
- Check in the amount of $50
- Check in the amount of $10

Ending Available Balance in checking account: ($20)

Using the above example, checks in the amounts of $50 and $10 will generally be paid and generally no NSF fee will be assessed since the ending available balance is negative $20.

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. You must tell us the exact amount of the check and the check number. 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. See the section “Electronic Funds Transfer Disclosure” for additional information on how to place a stop payment on a preauthorized ACH payment.

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-statement cycle limit.

Continually exceeding these limits may result in your account being converted to another account type 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 the owners or 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 owners or 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 you die or if a court finds you unable to handle your affairs (you are “adjudicated incapacitated”) until we know of your death or receive a court order of your incapacity and have a reasonable opportunity to act. Even if we have knowledge of your death, we may, for fourteen (14) calendar days after the date of death, pay checks written before your death. We will not pay such checks, however, if we receive a stop payment from your legal representative 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 electronically via our Online Banking Service. 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 Customers Bank Online Banking service 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. We will not be liable to you for payment of any forged or altered check if you fail to notify us of the forgery or alteration within this sixty (60) day period and your failure causes us to suffer a loss. We will not be liable for a forged or altered check if the forgery or alteration resulted from your negligence. This applies even if the items were forged or altered so cleverly (as by unauthorized use of a facsimile signature device, computer, photocopy machine or otherwise), that a reasonable person could not detect the unauthorized or forged signature or endorsement or alteration. You may have to bear losses that could have been prevented if you had discovered and told us within the sixty (60) day period of errors or unauthorized transactions. This sixty (60) day limitation applies regardless of whether we used ordinary care.

Lost and/or Stolen Checks, ATM and/or Debit Cards or Other Account Access Means
You must notify us within twenty-four (24) hours after 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 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 replacement access device or allow any withdrawals from the account. You also agree to reimburse us for any loss or expense we incur. See Electronic Funds Transfer Disclosure for further details. 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.

Automated Clearing House (ACH)

Automated Clearing House (ACH) transactions are governed by the Electronic Funds Transfer Act (EFTA)

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 4A Disclosure
DISCLOSURES REGARDING ELECTRONIC "WHOLESALE CREDIT"TRANSACTIONS SUBJECT TO UNIFORM COMMERCIAL CODE ARTICLE4A

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 you 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 owner of the account. We may take these actions even if the attachment, garnishment, or levy affects only one owner of a joint account. We will, to the extent required by law, notify you 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 your accounts (except IRA, Irrevocable Trust or Custodian Accounts) or any account in which you are a co-owner 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. If the account is a joint or multiple party account: each joint or multiple party account owner agrees that we may exercise our right of set-off against any individual account(s) of each account owner for debt of the joint or multiple party account. Each joint or multiple party account owners also agrees that we may set-off against the joint or multiple party accounts for an individual debt of each account owner. 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. 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. We are generally required by law to deliver to the applicable state agency any funds in an account if you do not initiate a transaction (deposit or withdrawal) for a period of time as defined by applicable state regulation. We will provide applicable notices to you, as required by law. You agree that we are not responsible for any funds delivered to the state in compliance with the laws of the applicable state agency.

Change of Address
You must notify us immediately in writing of any changes in your address or the address where you want us to send information about your accounts. This also applies to your e-mail address if you use any Online (Internet) Banking services. You must also notify us in writing when your telephone number changes. All such notices should be sent to: Customers Bank, Customer Service, 99 Bridge Street, Phoenixville, PA 19460. All such notices will be effective no later than thirty (30) calendar days after we receive them. We may require you to pay any expenses we incur as a result of not having your current address and telephone number.

Notices
Unless otherwise provided in this Agreement, any notice from you must be in writing. Any written notice that you give us will be effective when it is actually received by us, provided we have reasonable opportunity to act on it. Any written notice that we give to you will be effective when it is deposited in the U. S. mail or delivered at you to the address in our records. If your account is a joint or multiple party account, notice from us to any one of you is notice to all of 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.

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 in either the truth in savings disclosure which describes the account you are closing or 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, your estate, heirs or 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 estate, heirs or 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
Each of you agrees to be jointly and individually 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 you 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(s). 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 by law.

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.

Electronic Banking
You agree to be bound by the terms and conditions provided in the Customers Bank Online Banking 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, 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 an 8-digit VRU Access number and PIN established by you in our Telephone Banking system. Services may be changed at any time however, at the present time you may use the system to:

Bill Pay
You may access Bill Pay services through our Online Banking or Mobile Banking services over the internet and mobile devices. Services may be changed at any time however at the present time you may use the service to:

Consumers - please call Customers Bank at 866-476-2265, Monday through Friday from 8:00 am to 5:00 pm EST.