Common use of Excess Transactions Clause in Contracts

Excess Transactions. In accordance with federal law, if you have more than the allowable preauthorized transfers or preauthorized checks or drafts in any one period, your Account may be subject to closure by us and the funds placed in another Account that you are eligible to maintain, or we may take away the transfer and draft capabilities of the Account. In addition to the above preauthorized transfers, you may make “unlimited withdrawals” (defined for purposes of this subsection as payments directly to you or to your loan Accounts with us), either in person at our locations, by mail, messenger, or use of an ATM card, if applicable. You agree to pay any withdrawal and other fees that we may charge in conjunction with such “unlimited withdrawals,” as set forth in our Truth in Savings disclosure. Telephone-initiated withdrawals will only be deemed to fall within the “unlimited withdrawal” category if such withdrawals result in a withdrawal by check payable to an Account Holder. All withdrawals initiated via Frost Online Banking Services are never deemed to be included in the “unlimited withdrawal” category, but are subject to the limitations set forth in subsection (1) above.