Common use of Escheatment Clause in Contracts

Escheatment. Accounts that are inactive for a period of time may be considered dormant or abandoned. If this happens, the funds in your account may be required to be turned over to the state of your last known address on file with us. Each state has its own laws as to when the account is subject to escheat. We will make all reasonable efforts to contact you before transferring the funds in your account to the appropriate state. For accounts with international addresses, the funds will be transferred to the State of Delaware. Duty of Care In accordance with reasonable banking standards, most checks and other items presented to us for payment are processed through automated processing and, except in limited circumstances and subject to such reasonable sampling procedures as we establish at our discretion, most items are not individually examined to verify your signature or verify that the item is otherwise properly payable. You agree that we act within reasonable banking standards by processing most checks, paper drafts and other items through automated processing systems. Foreign Activity If you have moved outside of the United States or have frequent international transactions, you may be contacted about the international activity in your account and for further verification of your address. If you are moving, traveling, or will be temporarily residing overseas, we recommend you contact us to prevent any disruption in your account activity. Your account may be closed.

Escheatment. Accounts that are inactive for a period of time may be considered to be dormant or abandoned. If this happens, the funds in your account may be to required to be turned over to the state of your last known address on file with usaddress. Each state has its own varying laws as to when the account is subject to escheat. We will make all reasonable efforts to contact you before transferring the funds in your account account(s) to the appropriate an applicable state. For accounts with international addresses, the funds will be transferred to the State of Delaware. Duty of Care In accordance with reasonable banking standards, most checks and other items presented to us for payment are processed through automated processing and, except in limited circumstances and subject to such reasonable sampling procedures as we establish at our discretion, most items are not individually examined to verify your signature or verify that the item is otherwise properly payable. You agree that we act within reasonable banking standards by processing most checks, paper drafts and other items through automated processing systems. Foreign Activity If you have moved outside of the United States or have frequent international transactions, you may be contacted about the international activity in your account and for further verification of your address. If you are moving, traveling, or will be temporarily residing overseas, we recommend you contact us to prevent any disruption in your account activity. Your account may be closed.