The First National Bank Of Elmer
Basic Checking Agreement, Rules And Regulations
RULES AND REGULATIONS: These are the rules and regulations that govern your basic checking account. Your account will also be governed by the signature card that you signed and (if the account is a multiple party account) by the supplemental agreement that you signed in connection with the signature card. Furthermore, the account will be subject to the laws, regulations and rules of the State of New Jersey and of the United States. Any change in any of the foregoing that may become effective in the future will also govern the account.
DEPOSITS: Deposits may be made only when accompanied by a deposit slip in the form prescribed by the Bank. In receiving any item (such as a check) for deposit or collection, the Bank will process the item in order to collect payment of it; the Bank will not, however, become the owner of the item. In processing the item, the Bank will not be responsible beyond the exercise of ordinary care. All items are credited subject to the Bank's receipt of final payment of the item. If the Bank received any item payable to you with any endorsement missing, the Bank may endorse it for you and deposit it in the account. Items may be handled in accordance with customary banking practice. Any item received by the Bank after its regular closing hour will be considered to have been received by it on the following business day. At its discretion, the Bank may refuse to accept a deposit, may return a deposit and may close the account.
PAYMENTS: You may direct the Bank to make payments out of your account by writing a check in the form prescribed by the Bank. You must maintain a sufficient balance of available funds in your account to cover the checks you write. (An item deposited does not become "collected" until it has been finally paid to the Bank.) If your check is presented to the Bank at a time when there is not a sufficient balance of available funds in your account, the Bank may (a) pay the check, or (b) return the check unpaid and in either event (c) charge you a service charge.
STOP PAYMENT: You may direct the Bank to stop payment on any check orally or in writing. An oral direction, however, must be confirmed in writing within 14 days; otherwise, it will expire. A written direction to the Bank to stop payment will be effective for 6 months, unless renewed in writing.
SERVICE CHARGES: The Bank may impose service charges and maintenance charges on your account in the amounts and on the other terms, that are determined by the Bank from time to time.
SET-OFF: Each of you acknowledge and agree that we have the right to set off against all or any part of the Basic Checking Account for any debt you may owe the Bank. This right may be exercised at any time and without prior notice, except as limited by law. This right applies even if one or more of you is not obligated to us on the debt. This right applies to debts we now own or hereafter acquire.
JOINT ACCOUNT: If the account is a joint account, the Bank will pay a check, as well as recognize all other matters affecting the account, signed by any one of you. Each of you authorizes each other to endorse for deposit in the account any item that is payable to any or all of you. The Bank may, without notice to any of you, can withdraw any or all of the money from the account and apply that money to reduce any indebtedness owed by any one or more of you (whether jointly or individually) to the Bank. Any one of you may authorize payment on any item to be stopped. A notice to any one of you will constitute a notice to all of you.
BANKING HOURS: The Bank will be open for business during hours that are determined by the Bank from time to time.
POSTDATED AND CONDITIONAL CHECKS: You must not date a check later than the date you write it or put a condition for payment on any check. If you do, and the check is presented to the Bank for payment before its date or before the condition has been met, the Bank may in its discretion pay the check or return it unpaid.
STATEMENTS: The Bank will send you a periodic statement, which will contain a record of all transactions during the period. In order to preserve your rights, you must examine the statement and checks and notify your branch in writing of any unauthorized transactions promptly after the statement is delivered to you.
INDEMNITY: If you ask the Bank to follow instructions that, in the judgment of the Bank, expose it to potential liability under the law, the Bank may refuse to follow your instructions or may require adequate security to protect it from all loss and expense incurred in following your instructions.
AMENDMENT: The Bank may change these rules and regulations and add new rules and regulations from time to time. The Bank may also change the service and maintenance charges and the banking hours from time to time. Each of the changes will be binding upon you and the account when the Bank posts a notice of the change in the lobby of the Bank or when the Bank mails you a written notice.
WAIVER: Any waiver by the Bank of any of these rules and regulations on any occasion will not constitute a waiver of the same or any other rules and regulations on any other occasion.
CHANGE OF ADDRESS: You must promptly notify the Bank in writing of any change in your address.
CONTINUING EFFECT: If any of these rules and regulations is determined by a governmental authority to be ineffective, the rest will continue to be in effect.
AGREEMENT: I/we agree to be bound by all these rules and regulations.