Terms of Contract @ ZBInternational
INTRODUCTION
Welcome to ZestBankInternational, You have many choices when selecting a financial
institution, and we are glad you chose ZBInternational, ZRH. We value our relationship
with you and hope we answered all your questions when you opened your account.
Whether you are opening a new account or currently have a Consumer or Business
deposit account, please review this account agreement for further details regarding
your account and related services.
What words do we use to refer to the customer, this account agreement, and Zest Bank?
What words do we use to refer to the customer, this account agreement, and Zest Bank?
- 1. The customer is the “account owner,” “you,” “your,” or “yours.
- 2. ZBInternational, ZHR. is “ZBInternational,” “the Bank,” “we,” “us,” or “our
This account agreement and the disclosures listed below constitute the “Agreement”:
- The Consumer Account Fee and Information Schedule (“Consumer Schedule”) or
the Business Account Fee and Information Schedule (“Business Schedule”), which
explain our fees and provide additional information about our accounts and services,
- Our Privacy Policy, - Our rate sheet for interest-earning accounts, and - Any
additional disclosures we provide to you about your account and related services,
including any addenda to the Agreement or to the Consumer Schedule or Business
Schedule, as applicable. Words with specific meanings. Certain words have specific
meanings as they are used throughout this Agreement. These words and their
meanings are defined in this section.
ACH Transaction
An ACH transaction is a deposit or payment (withdrawal) presented through the
Automated Clearing House (ACH) network, an electronic network for financial
transactions in Switzerland.
Authorized Signer
An authorized signer is a person who has your actual or apparent authority to use
your account even if they have not signed the account application.
Available balance
Your account’s available balance is our most current record of the amount of
money available for your use or withdrawal. For more information, please see the
section entitled “How do we determine your account’s available balance?” in this
Agreement.
Business Account
A business account is any deposit account, other than one of ZBInternational’s
commercial deposit accounts, which is not established and maintained for personal,
family, or household purposes. A business account is typically owned by an
individual acting as a sole proprietor, a partnership, a limited partnership, a limited
liability partnership, a limited liability company, a corporation, a joint venture, a
nonprofit corporation, an employee benefit plan, or a governmental unit including an
Indian tribal entity.
Business Day
Every day is a business day except Saturday, Sunday, and federal holidays.
Deposit Account Agreement – Effective November 9, 2020
Overdraft
An overdraft is a negative balance in your account. What information does the
Agreement contain? The Agreement
You are responsible for ensuring that any authorized signer on your account(s) is familiar with the Agreement. We suggest you retain a copy of the Agreement and any further information we provide you regarding changes to the Agreement for as long as you maintain your ZBInternational accounts. Are we allowed to change the Agreement? Yes, we can change the Agreement by adding new terms or conditions, or by modifying or deleting existing ones. We refer to each addition, modification, or deletion to the Agreement as a modification.
• Explains the terms of your banking relationship with ZBInternational
• Is the Agreement between ZBInternational and you for your
account and any services
• Replaces all prior deposit agreements including any oral
or written representations, and
• Includes legal information about your banking relationship with ZBInternational.
You are responsible for ensuring that any authorized signer on your account(s) is familiar with the Agreement. We suggest you retain a copy of the Agreement and any further information we provide you regarding changes to the Agreement for as long as you maintain your ZBInternational accounts. Are we allowed to change the Agreement? Yes, we can change the Agreement by adding new terms or conditions, or by modifying or deleting existing ones. We refer to each addition, modification, or deletion to the Agreement as a modification.
Business Day
Every day is a business day except Saturday, Sunday, and federal holidays.
Deposit Account Agreement – Effective November 9, 2020
Notice of a modification
If we are required to notify you of a modification to the Agreement, we will describe
the modification and its effective date by a message within your account statement
or any other appropriate means.
Waiver of a term of the Agreement
We may agree in writing to waive a term of the Agreement, including a fee. This is
called a waiver. We may revoke any waiver upon notice to you. How do you consent
to the Agreement and any future modification to the Agreement? By signing the
application for a deposit account or using your account or service you consent to
the terms of this Agreement. Continuing to maintain or use the account or service
after a modification to the Agreement or removal of a fee waiver becomes effective
is considered your consent to those changes. A copy of the current Agreement will
include modifications described in your account statement or otherwise
communicated to you. You can obtain a copy of the current Agreement anytime by
requesting it from a banker or at Zestbanking.online. What happens if a term of the
Agreement is determined to be invalid? Any term of the Agreement that is
inconsistent with the laws governing your account will be considered to be modified
by us and applied in a manner consistent with such laws. Any term of the Agreement
that a court of competent jurisdiction determines to be invalid will be modified
accordingly. In either case, the modification will not affect the enforceability or
validity of the remaining terms of the Agreement. With whom will we communicate
about your account? We may provide you or an authorized signer with information
about your account. When we receive information from an authorized signer, we
treat it as a communication from you. You agree to notify us promptly in writing if
an authorized signer no longer has authority on your account. Resolving disputes
through arbitration (Consumer accounts only) Arbitration Agreement between you
and ZBInternational If you have a dispute, we hope to resolve it as quickly and easily as
possible. First, discuss your dispute with a banker. If your banker is unable to
resolve your dispute, you agree that either ZBInternational or you can initiate arbitration
as described in this section.
Definition
Arbitration means an impartial third party will hear the dispute between ZBInternational
and you and provide a decision. Binding arbitration means the decision of the
arbitrator is final and enforceable. A dispute is any unresolved disagreement
between ZBInternational and you. A dispute may also include a disagreement about this
Arbitration Agreement’s meaning, application, or enforcement. ZBInternational and you
each agrees to waive the right to a jury trial or a trial in front of a judge in a public
court. This Arbitration Agreement has only one exception: Either ZBInternational or you
may still take any dispute to small claims court. Arbitration is beneficial because it
provides a legally binding decision in a more streamlined, cost-effective manner
than a typical court case. But, the benefit of arbitration is diminished if either Zest
Bank or you refuse to submit to arbitration following a lawful demand. Thus, the
party that does not agree to submit to arbitration after a lawful demand must pay all
of the other party’s costs and expenses for compelling arbitration. Can either Zest
Bank or you participate in class or representative actions? No, neither ZBInternational
nor you will be entitled to join or consolidate disputes by or against others as a
representative or member of a class, to act in any arbitration in the nterests of the
general public, or to act as a private attorney general. If any provision related to a
class action, class arbitration, private attorney general action, other representative
action, joinder, or consolidation is found to be illegal or unenforceable, the entire
Arbitration Agreement will be unenforceable. What rules apply to arbitration? Zest
Bank and you each agrees that
Resolving disputes through arbitration (Consumer accounts only). No person
participating in an arbitration can disclose the arbitration’s existence, content,
subject, or results, except as required in a party’s ordinary course of business or by
law. Who pays the arbitration fees and expenses? Arbitration fees and expenses are
explained here:
1. The Switzerland Arbitration Association (SAA) will administer each arbitration and
the selection of arbitrators according to the SAA’s Consumer Arbitration Rules (SAA
Rules).
2. ZBInternational and you are participating in commercial transactions involving the movement of money or goods among states.
3. The Federal Arbitration Act (Title 9 of the Switzerland States Code) governs this
Arbitration Agreement and any arbitration between ZBInternational and you. If the Act or any
part of it is inapplicable, unenforceable or invalid, the state laws governing your
relationship with ZBInternational govern this Arbitration Agreement. Either ZBInternational or you
may submit a dispute to binding arbitration at any time, regardless of whether a lawsuit or
other proceeding has previously begun. For information on initiating arbitration, contact
the SAA. Each arbitrator must be a licensed attorney with expertise
in the laws applicable to the dispute’s subject matter. The arbitrator will make a decision
regarding the dispute based on applicable law, including any statutes of limitations. The
arbitrator may award to either ZBInternational or you any award or relief provided for by law.
Setting the fees/expenses: The arbitration administrator determines the rules
and procedures for deciding who pays the arbitration fees, unless limited by
applicable law. Please check with the arbitration administrator to determine the
fees applicable to any arbitration you file.
Applying state law: The laws governing your account may limit the amount of
fees and expenses you are required to pay in arbitration. Your arbitration fees and
expenses will not exceed any applicable limits.
Paying for attorney/expert/witness fees: Unless applicable laws state
otherwise, each party will pay its own attorney, expert, and witness fees. This rule
applies no matter which party wins arbitration. What other rights do ZBInternational or
you have when resolving disputes? ZBInternational or you each can exercise any lawful
rights or use other available remedies to .
• Preserve or obtain possession of property,
• Exercise self-help remedies, including setoff rights, or
• Obtain provisional or ancillary remedies such as injunctive relief, attachment,
garnishment, or appointment of a receiver by a court of competent jurisdiction.
Where will an arbitration be held? An arbitration will be held in the state whose
laws govern your account. Resolving disputes through arbitration (Business
accounts only) Arbitration Agreement between you and ZBInternational If you have a
dispute, we hope to resolve it as quickly and easily as possible. First, discuss your
dispute with a banker. If your banker is unable to resolve your dispute, you agree
that either ZBInternational or you can initiate arbitration as described in this section.
Definition
Arbitration means an impartial third party will hear the dispute between ZBInternational
and you and provide a decision. Binding arbitration means the decision of the
arbitrator is final and enforceable. A “dispute” is any unresolved disagreement
between ZBInternational and you. A “dispute” may also include a disagreement about
this Arbitration Agreement’s meaning, application, or enforcement.
Except as stated in “No waiver of self-help or provisional remedies” below, Zest
Bank and you agree, at ZBInternational’s or your request, to submit to binding arbitration
all claims, disputes, and controversies between or among ZBInternational and you (and
their respective employees, officers, directors, attorneys, and other agents),
whether in tort, contract or otherwise arising out of or relating in any way to your
account(s) and/or service(s), and their negotiation, execution, administration,
modification, substitution, formation, inducement, enforcement, default, or
termination (each, a “dispute”). DISPUTES SUBMITTED TO ARBITRATION ARE
NOT RESOLVED IN COURT BY A JUDGE OR JURY. TO THE EXTENT ALLOWED
BY APPLICABLE LAW, WELLS FARGO AND YOU EACH IRREVOCABLY AND
VOLUNTARILY WAIVE THE RIGHT EACH MAY HAVE TO A TRIAL BY JURY FOR
ANY DISPUTE ARBITRATED UNDER THIS AGREEMENT. Aside from self-help
remedies, this Arbitration Agreement has only one exception: Either ZBInternational or
you may still take any dispute to small claims court. Arbitration is beneficial because
it provides a legally binding decision in a more streamlined, cost-effective manner
than a typical court case. But, the benefit of arbitration is diminished if either Zest
Bank or you refuse to submit to arbitration following a lawful demand. Thus, the
party that does not agree to submit to arbitration after a lawful demand by the other
party must pay all of the other party’s costs and expenses for compelling
arbitration.
Can either ZBInternational or you participate in class or representative actions? No, Zest
Bank and you agree that the resolution of any dispute arising pursuant to the terms
of this Agreement will be resolved by a separate arbitration proceeding and will not
be consolidated with other disputes or treated as a class. Neither ZBInternational nor you
will be entitled to join or consolidate disputes by or against others as a
representative or member of a class, to act in any arbitration in the interests of the
general public, or to act as a private attorney general. If any provision related to a
class action, class arbitration, private attorney general action, other representative
action, joinder, or consolidation is found to be illegal or unenforceable, the entire
Arbitration Agreement will be unenforceable.
What rules apply to arbitration? ZBInternational and you each agree that the arbitration will:
1.
Proceed in a location mutually agreeable to ZBInternational and you, or if the parties
cannot agree, in a location selected by the Switzerland Arbitration Association (SAA) in
the state whose laws govern your account Resolving disputes through arbitration (Business
accounts only)
Be governed by the Federal Arbitration Act (Title 9 of the Switzerland States Code),
2.
notwithstanding any conflicting choice of law provision in any of the documents between
ZBInternational and you.
3. Be conducted by the SAA, or such other administrator as ZBInternational and you will
mutually agree upon, in accordance with the SAA’s commercial dispute resolution
procedures, unless the claim or counterclaim is at least $1,000,000 exclusive of claimed
interest, arbitration fees and costs in which case the arbitration will be conducted in
accordance with the SAA’s optional procedures for large, complex commercial disputes
(the commercial dispute resolution procedures or the optional procedures for large,
complex commercial disputes to be referred to, as applicable, as the “rules”). If there is any
inconsistency between the terms hereof and any such rules, the terms and procedures set
forth herein will control. Any party who fails or refuses to submit to arbitration following a
lawful demand by any other party will bear all costs and expenses incurred by such other
party in compelling arbitration of any dispute. What are the Arbitrator qualifications and
powers? Any dispute in which the amount in controversy is $5,000,000 or less will be
decided by a single arbitrator selected according to the rules, and who will not render an
award of greater than $5,000,000. Any dispute in which the amount in controversy exceeds
$5,000,000 will be decided by majority vote of a panel of three arbitrators; provided
however, that all three arbitrators must actively participate in all hearings and deliberations.
Each arbitrator will be a neutral attorney licensed in the state whose laws govern your
account, or a neutral, retired judge in such state, in either case with a minimum of ten years
experience in the substantive law applicable to the subject matter of the dispute to be
arbitrated. The arbitrator(s) will determine whether or not an issue is arbitratable and will
give effect to the statutes of limitation in determining any claim. In any arbitration
proceeding the arbitrator(s) will decide (by documents only or with a hearing at the
discretion of the arbitrator(s)) any pre-hearing motions which are similar to motions to
dismiss for failure to state a claim or motions for summary adjudication. The arbitrator(s)
will resolve all disputes in accordance with the substantive law of the state whose laws
govern your account and may grant any remedy or relief that a court of such state could
order or grant within the scope hereof and such ancillary relief as is necessary to make
effective any award. The arbitrator(s) will also have the power to award recovery of all
costs and fees, to impose sanctions, and to take such other action as deemed necessary to
the same extent a judge could pursuant to the federal rules of civil procedure, the state rules
of civil procedure for the state whose laws govern your account, or other applicable law.
Judgment upon the award rendered by the arbitrator(s) may be entered in any court having
jurisdiction. The institution and maintenance of an action for judicial relief or pursuit of a
provisional or ancillary remedy will not constitute a waiver of the right of any party,
including the plaintiff, to submit the controversy or claim to arbitration if any other party
contests such action for judicial relief. Is discovery permitted in arbitration? Yes, in any
arbitration proceeding, discovery will be permitted in accordance with the rules. All
discovery will be expressly limited to matters directly relevant to the dispute being
arbitrated and must be completed no later han 20 days before the hearing date.
Do ZBInternational and you retain the right to pursue in small claims court certain claims? Yes, notwithstanding anything to the contrary, ZBInternational and you each retains the right to pursue in small claims court a dispute within that court’s jurisdiction. Further, this arbitration agreement will apply only to disputes in which either partyseeks to recover an amount of money (excluding attorneys’ fees and costs) that exceeds the jurisdictional limit of the small claims court. Important legal information What laws govern your account? The laws governing your account include:
Laws, rules, and regulations of the Switzerland, and
Laws of the state where you opened your account (without regard to conflict of laws principles). For consumer and business accounts (except analyzed business accounts), your account statement will identify the state whose laws govern your account. If a different state law applies, we will notify you. Any funds transfer (including a wire transfer) that is a remittance transfer as defined in Regulation E, Subpart B, will be governed by the laws of the Switzerland and, to the extent applicable, the laws of the state of Zurich, including Zurich’s version of Article 4A of the Uniform Commercial Code, without regard to its conflict of laws principles.
What is the controlling language of our relationship? English is the controlling language of our relationship with you. Items you write such as checks or withdrawal slips must be written in English. For your convenience, we may translate some forms, disclosures, and advertisements into another language. If there is a discrepancy between our English-language and translated materials, the English version prevails over the translation. What agreement applies when there is a separate agreement for a service? If a service we offer has a separate agreement, and there is a conflict between the terms of the Agreement and the separate agreement, the separate agreement will apply.
Statements and other information relating to your deposit account How do we make available account statements and other notices to you? We will mail, send electronically, or otherwise make available to you an account statement reflecting your account activity for each statement period. We’ll do the same with notices. Wewill send all account statements and notices to the postal or electronic address associated with your account.
Combined account statements: To reduce the number of separate account statements you receive each month, we may combine statements if you have more than one deposit account.
If we provide a combined account statement for your accounts, we consider the first account listed on your statement as your primary account. You will receive your account statement at the address listed for your primary account. Statements for accounts in a combined statement will be delivered according to the delivery preference of the primary account. Note: Any person with online access to the primary account will also have online viewing capability to all the information on the combined statement.
If you do not want us to automatically combine your account statements, you can optout by visiting a banking location or calling the number on your account statement.
Account statements and notices for accounts owned by more than one owner:
When an account has more than one owner, we will send or otherwise make
available account statements and notices to only one owner. The owner receiving
this information is responsible for sharing copies of the information with other
owners.
For all accounts except analyzed business checking, if the first new fee period
created by our change is fewer than 25 days, the Bank will automatically waive themonthly service fee for that period. When is your account statement considered
received?
Mailed account statements:
When we mail your account statement, we consider it received by you on the
second business day after mailing it. Electronic delivery of account statements:
Account statements will be made available through ZBInternational as applicable, 24 –
48 hours after the end of the statement period. You will be notified via email that the
account statement is available for viewing. We consider the account statement to
be received by you when it is available online.
Additional terms - Protection against unauthorized items (Business customers only):
Are there additional steps business customers can take to help reduce the risk of
fraud on their account? Yes, in addition to the preventive measures described in the
section above titled, “Are you responsible for taking reasonable steps to help
prevent fraud on your account?”, we also recommend that customers with business
accounts follow these preventive measures to reduce their exposure to fraud:
1. Assign responsibilities for your business account to multiple individuals. The
individuals who reconcile statements for your business account should be different
from those individuals who issue items drawn on your business account.
2. Periodically reassign accounting duties such as reconciling your business account
or making a deposit.
3. Review your transaction activity for unexpected fluctuations. For example, compare
the percentage of cash deposits to total deposit size. Most businesses will maintain
a constant average. A large fluctuation might indicate embezzlement.
Fees may apply for this service. When does your account become dormant?
Checking accounts, savings accounts, and Time Accounts (CDs) Generally, an
account with a positive balance becomes dormant if you do not initiate an
account-related activity for 12 months for a checking account, 34 months for a
savings account, or 34 months after the first renewal for a Time Account. An
account-related activity is determined by the laws governing your account.
When will electronic banking privileges be terminated? All of your electronic banking privileges will be terminated if your account is closed, except that you can view account activity, download statements and tax documents, and perform limited maintenance functions for at least 90 days after closure. If you are enrolled in Zest Bank Online, refer to the Online Access Agreement for specific terms governing online access to your account. Are we allowed to obtain credit reports or other reports about you? Yes, we can obtain a credit or other report about you and your co-owners to help us determine whether to open or maintain an account. Other reports we can obtain include information from the following: motor vehicle departments,other state agencies, orpublic records.
When will electronic banking privileges be terminated? All of your electronic banking privileges will be terminated if your account is closed, except that you can view account activity, download statements and tax documents, and perform limited maintenance functions for at least 90 days after closure. If you are enrolled in Zest Bank Online, refer to the Online Access Agreement for specific terms governing online access to your account. Are we allowed to obtain credit reports or other reports about you? Yes, we can obtain a credit or other report about you and your co-owners to help us determine whether to open or maintain an account. Other reports we can obtain include information from the following: motor vehicle departments,other state agencies, orpublic records.
When do we share information about your account with others? Generally, if we do
not have your consent, we will not share information about your account. However,
we may share information about your account in accordance with our Privacy Policy
separately given to you.
Rights and responsibilities Are we allowed to monitor and record communications? Yes, we can monitor, record, and retain your communications with us at any time without further notice to anyone, unless the laws governing your account require further notice. Monitored and recorded communications include:
1. Telephone conversations,
2. Electronic messages,
3. Electronic records, or
4. Other data transmissions.
Rights and responsibilities Are we allowed to monitor and record communications? Yes, we can monitor, record, and retain your communications with us at any time without further notice to anyone, unless the laws governing your account require further notice. Monitored and recorded communications include:
1. Telephone conversations,
2. Electronic messages,
3. Electronic records, or
4. Other data transmissions.
Can ZBInternational benefit from having the use of funds in customers’ non-interest
earning accounts?
Yes. We may benefit from having the use of funds in customers’ non-interest
earning accounts. We may use these funds to reduce our borrowing from other
sources such as the Fed Funds market or invest them in short-term investments
such as its Federal Reserve Account. This benefit may be referred to as spread. It is
not possible to quantify the benefit to us that may be attributable to a particular
customer’s funds because funds from all customers’ non-interest earning accounts
are aggregated both for purposes of reducing our borrowing costs and for
investment and because our use of funds may vary depending on a number of
factors including interest rates, Federal Funds rates, credit risks and our anticipated
funding needs. Our use of funds as described in this paragraph has no effect or
impact on your use of and access to funds in your account. Is your wireless operator
authorized to provide information to assist in verifying your identity? Yes, and as a
part of your account relationship, we may rely on this information to assist in
verifying your identity. You understand and agree that ZBInternational may collect, use,
and retain personal or other information about you or your device pursuant to Zest
Bank’s policies or as required by applicable law. You authorize your wireless
operator to disclose your mobile number, name, address, email, network status,
customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI)
and other subscriber and device details, if available, to ZBInternational and service
providers for the duration of the business relationship, solely for identity verification
and fraud avoidance. Review our Privacy Policy for how we treat your data. You
represent that you are the owner of the mobile phone number or have the delegated
legal authority to act on behalf of the mobile subscriber to provide this consent. Are
you responsible for paying taxes? Yes, fees may be subject to state and local sales
taxes, which vary by location, and will be assessed as appropriate. You also agree to
pay an amount equal to any other applicable taxes, including backup withholding tax.
What is the applicable exchange rate? The applicable exchange rate is the
exchange rate we set and use for you when we convert one currency to another
currency. It includes a markup over our cost of sourcing the relevant currency. The
markup factors include without limitation costs incurred, market risks, and our
desired return. The exchange rate we provide to you may be different from Rights
and responsibilities
Deposits to your account Are we required to accept all deposits to your account?
No. We may decline all or part of a deposit, including a cash deposit. Some
examples are
1. an item made out to a payee not on your account,
2. an item with an endorsement we are unable to verify.
2. an item with an endorsement we are unable to verify.
Verification levels for non-resident investor checking account (NIROC):
Level 1 - Uploading of ID, e-mail, phone number verification and tax verification
Level 2 - Physical Print and Face Verification (PPFV)
Level 3 - Transfer limit upgrade fee as deemed fit by ZBInternational, not more than $30000 depending on customer country.
Outstanding and authorized withdrawals (such as recurring debit transactions and ACH transactions that we have not received for payment). The most common types of transactions are processed as described below. First, we determine the available balance in your account (as described above) that can be used to pay make transfers. NOTE: Certain pending transactions can impact your available balance:
Cash deposits or transfers from another ZBInternational account that are made AFTER the displayed cutoff time (where the deposit was made) will be added to your available balance if they are made before we start our nightly process. Your available balance will be reduced by pending withdrawals, such as debit transactions we have authorized and must pay when they are sent to us for payment. Withdrawals or transfers from your account must be completed before another transfer can be initiated. If your account has insufficient funds as reflected by your available balance, the Bank may assess overdraft and/or non-sufficient funds (NSF) fees on transactions we pay or return.
Level 2 - Physical Print and Face Verification (PPFV)
Level 3 - Transfer limit upgrade fee as deemed fit by ZBInternational, not more than $30000 depending on customer country.
Outstanding and authorized withdrawals (such as recurring debit transactions and ACH transactions that we have not received for payment). The most common types of transactions are processed as described below. First, we determine the available balance in your account (as described above) that can be used to pay make transfers. NOTE: Certain pending transactions can impact your available balance:
Cash deposits or transfers from another ZBInternational account that are made AFTER the displayed cutoff time (where the deposit was made) will be added to your available balance if they are made before we start our nightly process. Your available balance will be reduced by pending withdrawals, such as debit transactions we have authorized and must pay when they are sent to us for payment. Withdrawals or transfers from your account must be completed before another transfer can be initiated. If your account has insufficient funds as reflected by your available balance, the Bank may assess overdraft and/or non-sufficient funds (NSF) fees on transactions we pay or return.
Additional rules for withdrawals
A person receives a transfer, presentment, or return of, or otherwise is charged for an electronically created item in such a way that the person is asked to make payment based on an item or check it has paid. If we suffer any losses or liabilities arising directly or indirectly from or related to that type of electronically created item indemnity obligation, you will indemnify and reimburse us and not hold us responsible or liable. Issuing stop payment orders. Each stop payment order is subject to our verification that we have not already paid or otherwise become obligated to pay the check from your account. This verification may occur after we accept your stop payment order.
Your account ownership
Pay (without inquiring) any item authorized by the account owner before being
declared incompetent or dying,
Return or reverse deposits made to the account, and
Apply funds in the account to any debt the account owner owes us before recognizing the rights to any remaining funds of a surviving joint owner or other person. If we are liable for taxes or reclamation claims from a federal or state government agency because we released funds in an account after the account owner’s death, the account owner’s estate is responsible for reimbursing us for those amounts. Individual and Sole Proprietors Only If an account owner dies or is declared incompetent we may accept and comply with court orders and legal documents, and take direction from affiants or court appointed personal representatives, guardians, or conservators from your state of residence, even if different than where your account was opened except as otherwise required by applicable law or court order. We may require additional documentation be provided to us before complying with the directions given by affiants or court appointed personal representatives, guardians, or conservators. We reserve the right to require Switzerland court documents for customers who reside outside of the Switzerland at time of incompetence or death. For business owners Upon notification to the Bank of the death or incompetence of a business owner, the business entity will provide documentation evidencing any change in the ownership or control of the entity following applicable legal formalities.
Return or reverse deposits made to the account, and
Apply funds in the account to any debt the account owner owes us before recognizing the rights to any remaining funds of a surviving joint owner or other person. If we are liable for taxes or reclamation claims from a federal or state government agency because we released funds in an account after the account owner’s death, the account owner’s estate is responsible for reimbursing us for those amounts. Individual and Sole Proprietors Only If an account owner dies or is declared incompetent we may accept and comply with court orders and legal documents, and take direction from affiants or court appointed personal representatives, guardians, or conservators from your state of residence, even if different than where your account was opened except as otherwise required by applicable law or court order. We may require additional documentation be provided to us before complying with the directions given by affiants or court appointed personal representatives, guardians, or conservators. We reserve the right to require Switzerland court documents for customers who reside outside of the Switzerland at time of incompetence or death. For business owners Upon notification to the Bank of the death or incompetence of a business owner, the business entity will provide documentation evidencing any change in the ownership or control of the entity following applicable legal formalities.
