Terms & Conditions of Your Deposit Account
This page contains rules which govern
your account(s) with us. Please read this brochure carefully; if you sign
your signature card or continue to maintain your account you agree to these
rules, you agree to pay the fees we charge and you give us the right to collect
the fees, as earned, directly from the account balance. You will receive
a separate schedule of interest rates, qualifying balances, and fees if they
are not included elsewhere in this brochure. If you have any questions, please
call us. Much of our relationship with our depositors is governed by state
and federal law (which may change from time to time). This body of law is
too large and complex to be reproduced here. The purpose of this brochure
is to: 1) summarize the existing rules applicable to the more common transactions;
2) establish rules to govern transactions or events which the law does not
regulate; 3) establish rules for certain events or transactions which the
law already regulates but permits variation by agreement, and 4) give you
our funds availability, electronic funds transfer and/or truth-in-savings
policy disclosures. We may permit some variations from this standard agreement,
but any such variations must be agreed to in writing either on our signature
card for the account or in some other written form. As used in this brochure
the words “we”, “our” and “us” mean the
financial institution and the words “you” and “your” mean
the account holder(s) and any authorized signer on your account. “Party” means
a person who, by the terms of the account, has a great present right, subject
to request, to payment from the account other than as a beneficiary or agent.
Each of your agrees, for yourself (and
the person or entity you represent if you sign as a representative
of another) to the terms of this account and the schedule of charges
that may be imposed. You authorize us to deduct these charges as
accrued directly from the account balance. You also agree to pay
additional reasonable charges we may impose for services you request
which are not contemplated by this agreement. Each of you also
agrees to be jointly and severally liable for any account deficit
resulting from charges or overdrafts, whether caused by you or
another authorized to withdraw from this account, and the costs
we incur to collect the deficit including, to the extent permitted
by law, our reasonable attorneys’ fees.
Any items, other than cash, accepted
for deposit (including items drawn “on us”) will be
given provisional credit only until collection is final (and actual
credit for deposits of, or payable in , foreign currency will be
at the exchange rate in effect on final collection in U.S. dollars).
We are not responsible for transactions initiated by mail or outside
depository until we actually record them. All transactions received
after our “daily cut-off time” on a business day we
are open, or received on a day in which we are not open for business,
will be treated and recorded as if initiated on the next following
business day that we are open.
Unless otherwise clearly indicted to
the contrary, any one of you who signs in the space designated
for signatures on the signature card, including authorized signer,
may withdraw or transfer all or any part of the account balance
at any time on forms approved by us. Each of you (until we receive
written notice to the contrary) authorizes each other person signing
this form to endorse any item payable to you or your order for
deposit to this account or any other transaction with us. The fact
that we may honor withdrawal requests which overdraw the finally
collected account balance does not obligate us to do so, unless
required by law. Withdrawals will first be made from collected
funds, and we may, unless prohibited by law or our written policy,
refuse any withdrawal request against uncollected funds, even if
our general practice is to the contrary. We reserve the right to
refuse any withdrawal or transfer request which is attempted by
any method not specifically permitted, which is for an amount less
than any minimum withdrawal requirement, or which exceeds any frequency
limitation. Even if we honor a non-conforming request, repeated
abuse of the stated limitations (if any) may eventually force us
to close this account. We will use the date a transaction is completed
by us (as opposed to the day you initiate it) to apply the frequency
limitations. On interest-bearing accounts other than time deposits,
we reserve the right to require at least seven days’ written
notice before any withdrawal or transfer. Withdrawals from a time
deposit prior to maturity or prior to the expiration of any notice
period may be restricted and may be subject to penalty. See your
notice of penalties for early withdrawal.
of Account and Beneficiary Designation
These rules apply to this account depending
on the form of ownership and beneficiary designation, if any, specified
on the account records. Single-Party Account - is owned by one
person. At death of party, ownership passes as part of party’s
estate. Multiple-Party Account Without Right of Survivorship (as
tenants in common) - At death of party, deceased party’s
ownership passes as part of deceased party’s estate. None
of you intend (merely by opening this account) to create any right
of survivorship in any other party. We encourage you to agree and
tell us in writing the percentage of the deposit contributed by
each of you. This information will not, however, affect the “number
of signatures” necessary for withdrawal. Multiple-Party Account
With Right of Survivorship (joint, and not as tenants in common)
- At death of party, ownership passes to surviving parties. If
two or more of you survive the deceased party, you will own the
balance in the account as joint tenants with the right of survivorship
and not as tenants in common. Multiple-Party Account Without Right
of Survivorship (Community Property Funds) - Such an account is
issued in the name of a husband and wife who intend and agree that
any separate property in the account be transmuted (changed) into
community property and that all the property in the account, including
earnings, be held as community property without right of survivorship.
Multiple-Party Account With Right of Survivorship (Community Property
Funds) - Such an account is issued in the name of a husband and
wife who intend and agree to fund the account with community property
and hold the property with the right of survivorship. At death
of either spouse, ownership will vest in and belong to the surviving
spouse. Pay-On-Death or Revocable Trust Designation - If the account
is owned by one person, at death of party, ownership passed to
POD (or trust) beneficiaries and is not part of party’s estate.
If two or more of you create such an account, you own the account
jointly with survivorship. Beneficiaries acquire the right to withdraw
only if: (1) all persons creating the account die, and (2) the
beneficiary is then living. If two or more beneficiaries are named
and survive the death of all persons creating the account, such
beneficiaries will own the account in equal shares, without right
of survivorship. The person(s) creating either of these account
types reserves the right to: (1) change beneficiaries, (2) change
account types, and (3) withdraw all or part of the deposit at any
time. Organizational Accounts - We will usually require a separate
authorization form designating the person permitted and conditions
required for withdrawal from any account in the name of a legal
entity such as an organization. We will honor such authorization
according to its terms until it is amended or terminated in writing
by the governing body of such organization. Convenience Accounts
- This is a multiple-party account established in the names of
the party and a co-signer. The designation of an authorized signer
if for your convenience. An authorized signer is someone to whom
you give all rights you have now or in the future to make withdrawals
and deposits. Merely by designating an authorized signer you do
not intend to give any ownership rights to the account.
A stop-payment order must be given in
the manner required by law, must be received in time to give
us a reasonable opportunity to act on it, and must precisely
identify the number, date and amount of the item, and the payee.
We will honor a stop-payment request by the person who signed
the particular item, and, by any other person, even though such
other person did not sign the item, if such person has an equal
or greater right to withdraw from this account than the person
who signed the item in question. A release of the stop-payment
request may be made only by the person who initiated the stop-payment.
A transfer of funds from this account
to another account with us, by telephone, if otherwise permitted
or arranged for, may be made by the same persons and under the
same conditions generally applicable to withdrawals made in writing..
We restrict the number of transfers from a savings account to another
account, or third parties, to a maximum of six per month (less
the number of certain “preauthorized transfers” during
the month). Other account transfer restrictions are shown elsewhere
in this brochure.
Amendments and Termination
We may change
any term of this agreement. Rules governing changes in interest
rates have been provided separately. For other changes we will
give you reasonable notice in writing or by any other method
permitted by law. We may also close this account at any time upon reasonable
notice to you and tender of the account balance personally or
by mail. Notice from us to any one of you is notice to all of you.
If you do not notify us of an unauthorized
signature or alteration within a reasonable time (not to exceed
14 days) after we send or make available to you your statement
and items: (1) you cannot assert the unauthorized signature or
alteration against us, even if we are unable to show a loss due
to your failure, and (2) you cannot assert any unauthorized signatures
or alterations by the same wrongdoer on items paid by us after
the reasonable time mentioned above elapses, but before we receive
your notice. We lose these protections if we fail to exercise
ordinary care in paying an item with an unauthorized signature
or alteration, unless you do not notify us the problem within
60 days of when we send or make available to you the statement
and items. You must report any other problem (e.g., erroneous
statement or passbook entry, missing signature, unauthorized
endorsement, etc.) within this 60-day period or lose your right
to assert the problem against us.
This account may not be transferred or
assigned without our prior written consent.
If, in connection with a direct deposit
plan, we deposit any amount in this account which should
have been returned to the Federal Government for any reason,
you authorize us to deduct the amount of our liability to the
Federal Government from this account or from any other account
you have with us, without prior notice and at any time, except
as prohibited by law. We may also use any other legal remedy
to recover the amount of our liability.
If this option is selected, this is a
temporary account agreement. Each person who signs in the space
designated for signatures on the signature card (except as indicated
to the contrary) may transact business on this account. However,
we may at some time in the future restrict or prohibit further
use of this account if you fail to comply with the requirements
we have imposed within a reasonable time.
You each agree that we may (without
prior notice and when permitted by law) set off the funds in this
account against any due and payable debt owed to us now or in the
future, by any of you having the right of withdrawal. The amount
subject to set off is that proportion to which you are, or immediately
prior to your death were, beneficially entitled, and in the absence
of proof of net contributions, to an equal share with all parties
having present rights of withdrawal. If the debt arises from a
note, “any due and payable debt” includes the total
amount of which we are entitled to demand payment under the terms
of the note at the time we set off, including any balance the due
date for which we properly accelerate under the note. This right
of set-off does not apply to this account if: (a) it is an Individual
Retirement Account or other tax-deferred retirement account, or
(b) the debt is created by a consumer credit transaction under
a credit card plan, or (c) the debtor’s right of withdrawal
arises only in a representative capacity. We will not be liable
for the dishonor of any check when the dishonor occurs because
we set off a debt against this account. You agree to hold us harmless
from any claim arising as a result of our exercise of our right
We are not required to honor any restrictive
legend on checks you write unless we have agreed to the restriction
in a writing signed by an officer of the financial institution.
Examples of restrictive legends are “must be presented within
90 days” or “not valid for more than $1,000.00”.
We do not assume liability for the premature payment of post dated
Electronic Funds Transfers – Your Rights & Responsibilities
The Electronic Fund
Transfers we are capable of handling are indicated below, some
of which may not apply to your account. Please read this disclosure
carefully because if tells you your rights and obligations for
these transactions. You should keep this notice for future reference.
Direct Deposits - You may make arrangements for certain direct
deposits (such as U.S. Treasury (Social Security), Government payroll)
to be accepted into your Checking or Savings account.
Preauthorized Withdrawals - You may make arrangements to pay certain recurring
bills from your Checking or Savings accounts.
Express Phone Banking Transactions - types of transactions - You may access your account by
telephone using your account number(s), personal identification number (PIN), social security number
and touch tone phone to:
- get balance information about checking, savings or line of credit
- get withdrawal history about checking, savings or line of credit
- get deposit history about checking or savings
- get transaction history about checking or savings
Pulse Card ATM Transfers - types of transfers, dollar limitations,
and charges - You may access your account(s) by ATM using your ATM
card and your personal identification number to:
- get cash withdrawals from checking account(s)
with an ATM card - you may withdraw no more than $400.00 per business day,
there is no charge at ATMs we own or operate, there is a charge of $1.00
from First State Bank at ATMs we do not own or operate
- get cash withdrawals
from savings account(s) with an ATM card - you may withdraw no more than
$400.00 per business day, there is no charge at ATMs we own or operate,
there is a charge of $1.00 from First State Bank at ATMs we do not own or
- transfer funds from savings to checking account(s) with an ATM card
funds from a checking to savings account(s) with an ATM card
- get information
about - the account balance of your checking and/or savings account(s)
with an ATM card
Some of these services may not be available at all terminals.
Regarding ATM Fees by Others
If you use an automated teller machine
that is not operated by us, you may be charged a fee by the operator
of the machine and/or by an automated transfer network.
Please also see Limitations on Frequency of Transfers section regarding
limitations that apply to ATM transfers.
Limitations on Frequency of Transfers - In addition to those limitations
on transfers elsewhere described, if any, the following limitations apply (per
- Transfers from a Money Market account to another account or to
third parties by preauthorized, automatic, or telephone transfer are limited
to six per statement cycle.
- Transfers from a Savings account to another account or to
third parties by preauthorized, automatic, or telephone transfer are limited
to six per month.
Right to Documentation
Terminal Transfers - You can get a receipt
at the time you make any 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.
Direct Deposits - If you have arranged to have direct deposits
made to your account at least once every 60 days from the same
person or company, you can call us at (972) 285-6311 to find
out whether or not the deposit has been made. If the only possible
transfers to or from your account are direct deposits, you will
get a quarterly statement from us.
Periodic Statements - You will get a monthly account statement from
us for your checking accounts. You will get a monthly account statement from
us for your savings accounts, unless there are no transfers in a particular
month. In any case, you will get a statement at least quarterly.
Payment Procedures and Notice of Varying Amounts
Right to Stop Payment and Procedure
for Doing So. If you have told us in advance to make regular
payments out of your account, you can stop any of these payments.
Here is how: Call or write us at the telephone number or address
listed in this brochure in time for us to receive your request
three 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 14 days after you
We will charge you $25.00 for each stop payment order you give.
Notice of Varying Amounts. If these regular payments may vary in amount,
the person you are going to pay 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, or when the amount would fall outside
certain limits that you set.)
Liability for Failure to Stop Payment of Preauthorized Transfer. If you order
us to stop one of these payments three business days or more before the transfer
is scheduled, and we do not do so, we will be liable for your losses or damages.
Liability for Failure to Make Transfers.
If we do not complete a transfer to or from your account on time
or in the correct amount according to our agreement with you,
we will be liable for your losses or damages. However, there
are some exceptions. We will NOT be liable, for instance: (1)
If, through no fault of ours, you do not have enough money in
your account to make the transfer. (2) If the transfer would
go over the credit limit on your overdraft line. (3) If the
automated teller machine where you are making the transfer does
not have enough cash. (4) If the terminal or system was not
working properly and you knew about the breakdown when you started
the transfer. (5) If circumstances beyond our control (such
as fire or flood) prevent the transfer, despite reasonable precautions
we have taken. (6) There may be other exceptions stated in our
agreement with you.
Disclosure of Account
Information to Third Parties
We will disclose information to third
parties about your account or the transfers you make: (1) where
it is necessary for completing transfers; (2) in order to verify
the existence and condition of your account for a third party,
such as a credit bureau or merchant; (3) in order to comply with
government agency or court orders; or (4) if you give us written
Tell us AT ONCE if you believe your card
and/or code has been lost or stolen. Telephoning is the best
way of keeping your possible losses down. You could lose all
of the money in your account (plus your maximum overdraft line
of credit). If you tell us within two business days, you can
lose no more than $50.00 if someone used your card without your
permission. If you do not tell us within two business days after
you learn of the loss or theft of your card and/or code, and
we can prove we could have stopped someone from using your card
and/or code without your permission if you had told us, you
can lose as much as $500.00.
Also, if your statement shows transfers that you did not make,
tell us at once. If you do not tell us within 60 days after the
statement was mailed to you, you may not get back any money you
lost after the 60 days if we can prove that we could have stopped
someone from taking the money if you had told us in time. If
a good reason (such as a long trip or a hospital stay) kept you
from telling us, we will extend the time period. If you believe
your card and/or code has been lost or stolen or that someone
has transferred or may transfer money from your account without
your permission, call or write us at the telephone number or
address listed in this brochure.
In case of errors or questions about
your electronic transfers, call or write us at the telephone
number or address listed in this below, as soon as you can,
if you think your statement or receipt is wrong or if you need
more information about a transfer listed on the statement or
receipt. We must hear from you no later than 60 days after we
sent the FIRST statement on which the problem or error appeared.
(1) Tell us your name and account number (if any). (2) Describe
the error on the transfer you are unsure about, and explain
as clearly as you can why you believe it is an error or why
you need more information. (3) Tell us the dollar amount of
the suspected error. If you tell us orally, we may require that
you send us your complaint or question in writing within 10
business days. We will tell you the results of our investigation
within 10 business days after we receive notice from you and will correct any error
promptly. If we need more time, however, we may take up to 45
days (90 days if the transfer involved a point-of-sale transaction
or a foreign initiated transfer) to investigate your complaint
or question. If we decide to do this we will recredit your account
within 10 business days, so that you will have
the use of the money during the time it takes us to complete
our investigation. For new accounts (an account is new for 30
days after the first deposit into the account is made per Reg
CC), we will recredit your account within 20 business days however,
we may take up to 90 days to investigate your complaint or question.
If we ask you to put your complaint or questions in writing
and we do not receive it within 10 business days, we may not
recredit your account. If we decide that there was no error,
we will send you a written explanation within three business
days after we finish our investigation. You may ask for copies
of the documents that we used in our investigation.
FIRST STATE BANK
CUSTOMER SERVICE DEPARTMENT
917 MILITARY PARKWAY
MESQUITE, TEXAS 75149
Phone (972) 285-6311
Business days: Monday through Friday excluding Federal Holidays.
To see days and times of operation please click
DETAILED INFORMATION IS AVAILABLE ON REQUEST.
Funds Availability Disclosure – Your Ability to Withdraw Funds
This policy statement applies to “transaction” accounts
and savings accounts. Transaction accounts, in general, are accounts which
permit an unlimited number of payments to third persons and an unlimited number
of telephone and preauthorized transfers to other accounts of yours with us.
Checking accounts are the most common transaction accounts. Feel free to ask
us whether any of your other accounts might also be under this policy.
Our policy is to make funds from your deposits available to you on the first
business day after the day we receive your deposit. Please remember that even
after we have made funds available to you, and you have withdrawn the funds,
you are still responsible for checks you deposit that are returned to us unpaid
and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business
day, except Saturdays, Sundays, and federal holidays. If you make a deposit
before 5:00 p.m. on a business day that we are open, we will consider that
day to be the day of your deposit. However, if you make a deposit after 5:00
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.
Electronic direct deposits will be available on the day we receive the deposit.
Once they are available, you can withdraw the funds in cash and we will use
the funds to pay checks that you have written.
Delays May Apply
In some cases,
we will not make all of the funds that you deposit by check available
to you on the first business day after the day of your deposit.
Depending on the type of check that you deposit, funds may not
be available until the second business day after the day of your
deposit. However, the first $200.00 of your deposits will be
available on the first business day.
If we are not going to make all of the funds from your deposit available
on the first business day, we will notify you at the time you make your deposit.
We will also tell you when the funds will be available. If your deposit is
not made directly to one of our employees, or if we decide to take this action
after you have left the premises, we will mail you the notice by the day after
we receive your deposit. If you should need the funds from a deposit right
away, you should ask us when the funds will be available.
In addition, funds you deposit by check may be delayed for a longer period
under the following circumstances:
- We believe a check you deposit will not be paid.
- You deposit checks totaling
more than $5,000.00 on any one day.
- You have overdrawn your account repeatedly
in the last six months.
- There is an emergency, such as failure of communications
or computer equipment.
- You re-deposit a check that has been returned unpaid.
- 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
Rules for New Accounts
If you are
a new customer, the following special rules will apply during
the first 30 days your account is open. Funds from electronic
direct deposits to your account will be available on the day
we receive the deposit. Funds from deposits of cash, wire transfers,
and the first $5,000.00 of a day’s total deposits of cashier’s,
certified, teller’s, traveler’s, and federal, state
and local government checks will be available on the first
business day after the day of your deposit if the deposit meets
certain conditions. For example, the checks must be payable
to you (and you may have to use a special deposit slip). The
excess over $5,000.00 will be available on the ninth business
day after the day of your deposit. If your deposit of these
checks (other than a U.S. Treasury check) is not made in person
to one of our employees, the first $5,000.00 will not be available
until the second business day after the day of your deposit.
Funds from all other deposits will be available on the ninth
business day after the day of your deposit.