Simmons Bank Deposit Agreement

Identification number – If your payment order identifies an intermediary bank, a beneficiary bank or a beneficiary bank with a name and number, we and each recipient bank may depend on the identification number and not the name of the payment, even if the number identifies a bank or person other than the bank or beneficiary identified by its name. Neither we, nor a beneficiary or beneficiary bank, are responsible for determining whether the name and identification number relate to the same financial institution or financial person. Cancellation – We reserve the right to require in writing a period of less than 7 days before any payment of a paid account that is not a time deposit or a deposit of debt or other savings account within the meaning of Regulation D. (The law requires us to reserve this right, but it is not our general policy to use it.) Withdrawals from a time account before the due date or before notice may be limited and punishable. Look at your complaint of early resignation. In general, unless it is clearly specified otherwise in the account documents, anyone who acts alone, signs up for the opening of the account, or has the power to make withdrawals, can at any time withdraw or transfer all or part of the account balance. Each of you (until we receive a written message to the contrary) authorizes anyone else who is signed or authorized to make withdrawals to indorse all items to pay you or your deposit order on that account or any other transaction with us. (1) Claims to be the subject of arbitration proceedings: unless stated in paragraph 2 below, disputes or claims between you and us must be retaliated edable if one of the parties chooses arbitration for this dispute or claim. This conciliation agreement must be interpreted broadly. It understands, but is not limited: as used in this document, the words « we, » « our » and « we » mean the financial institution and the words « you » and « you » mean the holder (s) and all others entitled to deposit the funds into the account, withdraw or exercise control of the account. However, this agreement does not intend and the terms « you » and « you » should not be interpreted to increase an individual`s responsibility for the responsibility of an organization.

If this account is held by a company, partnership or other organization, individual liability is determined by the laws generally applicable to this type of organization. The titles of this document are designed only in terms of simplicity or reference and do not govern the interpretation of the provisions. If this were not inconsistent, the words and phrases used in this document should be interpreted in such a way that the singular contains the plural and the plural the singular. Please note that the above provisions regarding the availability of funds do not apply to funds deposited remotely through the mobile deposit function in our mobile banking app (« Mobile Deposits »). On the contrary, mobile deposits are usually made available until the third business day following the day of your deposit. However, in some cases, we may delay the availability of mobile deposits for a longer period of time. In such cases, we will let you know and tell you when the funds will be available. For more information on mobile deposit availability conditions, see Simmons Bank`s Terms of Use for Online Banking. Protection Exceptions – In addition, the funds you deposit by cheque may be delayed for a longer period of time in the following circumstances: if it turns out that a provision of this document is not applicable on its terms, all remaining provisions will remain fully in effect and effective. We may accept certain derogations from our standard agreement, but we must accept each change in writing either on your account`s signature card or in another document. Nothing in this document should change our duty to act in good faith and with ordinary care, if required by law.

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