CIT Bank Agreement for Personal Accounts


Banking with CIT Bank, N.A.

Thank you for banking with CIT Bank, N.A. ("CIT Bank"). We look forward to serving you.

Ways to Access Your Account

You can access your account and get information about our accounts and services:

  • Through our Online Banking at
  • Through our Contact Center at 855.462.2652
  • Through our downloadable mobile banking application.

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Our Agreement

This " CIT Bank Agreement for Personal Accounts" document is designed for use with CIT Bank's companion disclosures and any applicable product or service addenda (together referred to as the "Agreement"). This Agreement explains CIT Bank's consumer deposit accounts and other related services (the "Services") we make available to you, as well as the terms and fees that govern these accounts and services. When you open an account on our website you enroll in our Online Banking Services and agree and consent to all terms and conditions of this Agreement which includes your authorization for us to accept your electronic instructions to perform specific functions initiated by you on our Online Banking website. This Agreement is provided to you and accepted by you electronically pursuant to the E-Sign Disclosure and Consent you agreed to when you began the enrollment process for Online Banking. We recommend that you print this Agreement for your records, or you may obtain a paper copy of this Agreement at no charge by calling our Contact Center at 1.855.462.2652 or writing to CIT Bank, PO Box 471, Santa Monica, CA 90406-0471.

We may add to, delete or change the terms of this Agreement at any time subject to applicable law. Except as indicated herein, we will inform you of changes that affect your rights and obligations. Throughout this Agreement, the words "you," "your" and "yours" refer to the account owner or owners. Each person listed on our account records is an owner of the account opened under this Agreement. "We," "us," "the Bank" and "our" refer to CIT Bank.

This Agreement contains important information about your accounts and the Services. You are responsible for ensuring that all authorized signers on your account are familiar with our Agreement. We recommend you retain a copy of this Agreement (and any other notices the Bank provides you regarding changes to this Agreement) for as long as you maintain an account with us.

Dispute Resolution/Arbitration Agreement


Amendments and Changes in Account Terms

We may change the terms of this Agreement (including adding new or different terms or removing terms) at anytime without prior notice, unless prior notice is required by law. When changes are made we will update this Agreement on our website on or before the effective date of such changes, unless an immediate change is necessary to maintain the security of the system or to comply with legal requirements. We will notify you of any changes as required by law by mailing, e-mailing or delivering a notice, a statement message or an amended Agreement to any of you at the last address (location or e-mail) on file for you, your account or the service in question, or by posting the information on our website or otherwise making it available to you. By continuing to keep your account open or using the Services after we notify you of any changes, you agree to such changes. You may obtain a paper copy of any amendments or changes to this Agreement by calling our Contact Center at 1.855.462.2652 or writing to CIT Bank, PO Box 471, Santa Monica, CA 90406-0471. A copy of our current Agreement is also available on our Online Banking website via the appropriate link.

FDIC Insurance

Funds in your deposit accounts are generally insured up to $250,000 per depositor by the Federal Deposit Insurance Corporation (FDIC). The FDIC provides separate coverage for deposits held in different account ownerships such as: (1) individual or single ownership accounts; (2) joint ownership accounts; (3) revocable trust accounts (including pay-on-death accounts); (4) corporations, partnerships and unincorporated association accounts; and (5) certain individual retirement accounts, Individual Retirement Accounts.

CIT Bank, N.A. and OneWest Bank, a division of CIT Bank, N.A are the same FDIC-insured institution. Deposits held under each name are not separately insured, but are combined to determine whether a depositor has exceeded the $250,000 federal deposit insurance limit, per depositor for each account ownership category. For purposes of calculating aggregate deposits held in CIT Bank, N.A., you should include deposits held in OneWest Bank, a division of CIT Bank, N.A.

To calculate your deposit insurance coverage, use the FDIC's Electronic Deposit Insurance Estimator (EDIE) at For questions about FDIC coverage limits and requirements visit or call toll-free at 1-877-ASK-FDIC.

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Customer Identification Program


To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. In some cases we may also be required to ascertain the identity of the beneficial owners of certain accounts.

What this means to you: when you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you or the beneficial owners of the account. We will also ask to see your driver's license and/or other identifying documents.

In those instances where we are unable to complete identity verification using information from a third-party, we may at our discretion: (1) request that you provide acceptable additional documentation or information and (2) block deposit and withdrawal activity on the account until such time as the identity verification has been satisfactorily completed. In those instances where identity verification is not satisfactorily completed within a reasonable period of time after account opening and/or our notification to you of the same, we may, at our option, close the account and mail the proceeds to you in the form of a bank check.

Credit Verification

By opening an account with the Bank, or by agreeing to be an owner or signer on an account or obtaining any other service from us, you (and, if acting in a representative capacity, individually and for such entity or principal) agree that we may obtain account experience information or credit information about you from consumer or credit reporting agencies and/or by any other means where permitted by law. We may do so at the time you open the account, at any time while your account is open, or after your account is closed if you owe us any amounts related to your account. If you do not handle your account in a satisfactory manner and/or it is necessary for us to charge off your account as a loss, we will report such negative information to check or credit reporting agencies.

Telephone and E-Mail Monitoring

We may randomly monitor (and may also record) customer service telephone conversations and electronic communications to ensure that you receive courteous and efficient service. When you communicate with us, you agree that your call or e-mail may be monitored and/or recorded without further notice to you.

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Personal Accounts in General

Accounts such as individual, joint account (with or without right of survivorship), payable-on-death (POD), etc. are intended for personal, family or household purposes and may not be used for business or commercial purposes. If personal accounts are being used for business or commercial purposes, we reserve the right to close the account.

Ownership Types

Deposit accounts can be held in the types of ownership described below.

  • Individual Account — This account is owned by only one person who can deposit, transfer or withdraw funds. IRAs may only be held as individual accounts.
  • Joint Account — This account is owned by multiple individuals. Each joint owner on this account enjoys full access to it and agrees each owner can make a deposit, transfer or withdraw funds, and may close the account. All joint accounts are titled as joint tenants with right of survivorship. This means that if one owner dies, the account will belong to the survivor(s). If we provide notice to one joint owner, all joint owners are deemed to have received notice. The first person named on the account will be the "Primary Owner."The Primary Owner will (i) receive tax documents, such as 1099s; (ii) have access to tax documents and account statements online and (iii) have all accounts in which the person is the Primary Owner consolidated for online viewing and statement purposes.
  • Payable-on-Death (POD) and Totten Trust Accounts (ITF) — Payable-on-death and Totten Trust accounts are accounts which are payable on request to one or more depositors during their lifetimes and, upon the death of the last depositor, to one or more designated beneficiaries or payees. If there is more than one surviving beneficiary or payee, each will receive an equal share of the account unless you make a different designation. We may require joint instructions of, or payments to, all beneficiaries or payees.
  • Transfers/Gifts to Minors Act Account -This account is established pursuant to the California Uniform Transfers to Minors Act (UTMA) by a designated Custodian to hold funds belonging to a minor until such time as the minor reaches the age of majority. We have no duty to monitor the account or ensure that the Custodian is complying with their obligations under the UTMA law.

Some General Information

When you open an account with us, we may rely on information you give us and we maintain in our records. From this information we determine the type and ownership of the account opened. If you ask us to make a change to this information or any change to your account, and we agree to the change, the change will not be effective until we have had a reasonable period of time to act on the new information. For example, if you ask us to change one or more signers on your account, the request will not be effective until we have had enough time to review your request and act on it. If we ask you to give us additional documents or information, and you do not do so promptly, we may close your account. When we accept a deposit to an account or permit a withdrawal, we may rely upon the current ownership of the account, the information currently in our records, and the terms of this Agreement at the time we process the transaction. We are not obligated to inquire about the source or ownership of any funds we receive for deposit or about the use of funds withdrawn.

When we permit a withdrawal from an account at the request of any signer (or the agent of any signer, as applicable), in accordance with this Agreement, the withdrawal is a release and discharge of the Bank from all claims regarding the withdrawal. If you open an account in the names of two or more individuals, and we later determine that one or more of them have not completed our account opening documents (or provided us with certain requested information), you agree to hold us harmless for or reliance on your initial instructions. We may in our discretion either: (1) treat the account as being owned by all persons in whose names the account was opened or; (2) treat the account as being owned solely by the persons who have completed our account opening documents. If we treat the account as owned by all persons in whose names the account was opened, we may permit any non-signing person to withdraw funds from the account or take any other action without any liability to you. We may require you to close the account in order to remove a co-owner, terminate joint ownership or change a payable-on-death (POD) or trust designation.

Transfer / Assignment

All accounts are nontransferable except upon the books and records of the Bank. We may require surrender of the evidence of account. You may not grant, transfer or assign any of your rights to any account without prior written consent of the Bank. We are not required to accept or recognize an attempted assignment of your account or any interest in it.

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Savings Products Offered

We offer a variable rate savings account that will suit the banking needs of consumers. Please refer to the "Consumer Product" section for account details and eligibility. For a complete listing of our products and current rates please visit

Certificate of Deposit Products Offered

We offer a range of certificate of deposit accounts with a variety of terms. Please refer to the "Consumer Product" section for account details and eligibility. For a complete listing of our products and current rates please visit

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General Posting Order

We ordinarily post items within certain debit "categories" from the lowest to highest dollar amount, regardless of the order in which they occur or we receive them. Refer to "Credit and Debit Categories for Posting" below for more information.

Credit and Debit Categories for Posting

We may establish, at our discretion, different categories of debits and credits, and then determine posting orders within each category. A category may include more than one type of debit or credit. Debit categories may include withdrawals (preauthorized and online), payments and various fees. Credits that may be included in a credit category for posting may include deposits, direct deposits and other types of credits. We may change categories and orders within categories at any time without notice.

We may change our posting order at any time without notice to you. We may give preference to debits payable to us. On your account statement we do not necessarily report debits and credits in the order that we posted them to your account.

Determination of Posting Order

We do not post credits and debits to your account in the order in which they occur or we receive them. Sometimes they are not posted to your account on the same day that they occur. We may treat credits and debits to your account which we receive during any day as if we received all of them at the end of that day and post them in the order we determine.

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Accepting Items for Deposit

We may accept items for deposit, accept items for collection only, refuse items for deposit or return all or part of any deposit. If we accept checks or other items for deposit to your account or cash them, you are responsible for the checks and other items if there is a subsequent problem with them.

  • We may accept a check or other item for deposit to your account from anyone. We do not have to question the authority of the person making the deposit.
  • We may refuse to accept for deposit to your account items payable to another person ("third party checks"), Travelers checks or starter checks.
  • If we cash a check or other item for you or deposit it to your account and it is not paid for any reason, we will charge your account for the amount of the check or other item, even if this causes your account to become overdrawn.
  • All deposits are subject to our subsequent verification and adjustment, even if you have already withdrawn all or part of the deposit.
  • If we accept checks or other items for deposit or collection, we act only as your collection agent and assume no responsibility beyond ordinary care. We are not responsible for errors and delays made by other institutions in the collection process.
  • When you send us deposits by mail, we treat them as received at the time we receive actual delivery of the deposit.
  • You will not knowingly deposit items into your account that do not have either a true original signature of the person on whose account it is drawn or an authorized reproduction of that person's signature.

Verification and Collection

We may deduct funds from your account if an item is lost, stolen or destroyed in the collection process, if it is returned to us unpaid or if it was improperly paid, even if this causes your account to become overdrawn.

Items Sent for Collection

We and other institutions may refuse to accept a check or other item for deposit or may accept it on a collection basis only. This often occurs with foreign, questionable or damaged items. If we accept an item for collection, we will send it to the institution upon which it is drawn, but will not credit your account for the amount until we receive the funds from the other institution. If we elect to credit your account before then, we may charge the amount back against your account if we do not receive payment for any reason even if this causes your account to be overdrawn. We may impose a fee in connection with sending and receiving items for collection (e.g., by charging your account or deducting the fee from the amount remitted). Other institutions that send or receive items for collection involving your account also may impose a fee for their services.

Lost Items

We act only as your collection agent when receiving items for deposit or encashment. You should be aware that we reserve the right to reverse the credit for any deposited item or charge your account for cashed items should they become lost, mutilated, or destroyed while in the process of collection. If we do not reverse a credit, you agree to assist us in collecting the amount of any lost items by providing us with such information and other assistance as we request.

Delivery of Deposits and Verification

You may present deposits to us through various channels including mail, mobile remote deposit capture or other means that we may make available. We may use the channel and time of delivery to determine when you receive credit for the deposit. If we credit your account for the amount shown on the deposit ticket or other transmittal, the credit is subject to subsequent verification by us and our determination of the deposit amount is final.

If you provide an endorsement on an item deposited to your account, such endorsement must adhere to all federal and state law requirements as well as banking industry practice. If you make a deposit using mobile remote deposit capture, the Mobile Remote Deposit - Terms of Use will also govern the deposit.


You authorize the Bank to supply your endorsement on any item that the Bank accepts for collection, payment or deposit to your account. You also authorize the Bank to collect any unendorsed item that is made payable to you without first obtaining your endorsement, provided the item was deposited to your account. The Bank may refuse to pay or cash any item or accept any item for deposit or collection unless it is able to verify to its satisfaction that all of the necessary endorsements are present on the item. For example, the Bank may require that all payees or persons to whom the item is endorsed be present at the time that an item is presented to the Bank for payment, encashment, deposit or collection.

If you deposit a check that contains a carbon band, printing, endorsements or other material on the back of the check outside the area extending 1½ inches from the trailing edge of the check, that material could also interfere with endorsements by other banks and cause delays in returning the check. Therefore, you agree that the Bank shall not be liable to you for, and you will indemnify and hold the Bank harmless from any and all claims, loss, costs and expenses (including reasonable attorneys' fees and the costs of litigation) that the Bank or you may incur as a result of the late return of a check caused by carbon band, printing, endorsements or other material on the back of any check deposited to your account that extend outside the area extending 1½ inches from the trailing edge of the check. The trailing edge is defined as the left side of the check when viewing it from the front.

Identifying Your Account for Deposits

You are responsible for correctly identifying the account to which you want funds deposited or payments made. We may credit a deposit to an account based solely on the account number listed on the deposit slip or other instruction to credit an account, even if the name on the deposit slip or other instruction differs from the name on the account. You are responsible for any cost, loss or damage caused by your failure to properly identify the account to which a deposit is to be made.

Correction of Deposit Errors

When we receive your deposits, we provisionally credit your account for the amount indicated on the transmittal, subject to later verification by us. You must ensure that the amount indicated on the transmittal is correct even if you did not prepare the instruction. If we later determine that the amount indicated on the transmittal is incorrect, we may make the appropriate debit or credit adjustment to your account. However, if in our determination the error on the transmittal was inadvertent and is less than our standard adjustment amount, we will not adjust the amount of deposit to your account unless you notify us of the error within one year of the date of your periodic statement that shows the deposit. After this notification period has expired and you have not brought any error to our attention, the deposit amount indicated on the statement will be considered final.

Returned Items / Transactions

If we are notified that an item you cashed or deposited is being returned unpaid, we may attempt to reclear the item at our discretion, place a hold on the funds in question (refer to the "Funds Availability Policy" section) or charge your account for the amount (and any interest earned on it), whether or not the return or notice of non-payment is proper or timely. This also applies to checks drawn on us which are not paid for any reason, and to checks that are returned to us in accordance with any law, regulation or rule (including a clearinghouse rule). We may assess a fee for each returned item and notify you of the return orally, electronically or in writing.

If we receive an affidavit or a declaration under penalty of perjury stating that an endorsement on an item deposited to your account is forged, that the item contains an alteration or that there has been a breach of warranty in connection with the item, we may charge the item back against your account or place a hold on the funds pending an investigation, without prior notice to you.

Depositing Substitute Checks

You agree that you will not, without our prior permission deposit "substitute checks" as defined by federal law or drafts that purport to be substitute checks and have not been previously endorsed by a bank. If you deposit such an item, you give us the same warranties and indemnities that we would give under applicable law as a reconverting bank. You further agree to reimburse us for losses, costs, damages and attorneys' fees we may incur as a result of such action. If you provide us with an electronic representation of a substitute check for deposit into your account instead of an original check, you agree to reimburse us for all losses, costs and damages we incur because the resulting substitute check (from the electronic representation) does not meet the requirements for legal equivalence or causes duplicate payments.

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Your Ability to Withdraw Funds

We reserve the right to place a hold on any deposits made to your account. For Certificates of Deposit, we may hold your deposit for 30 business days. For Savings Accounts, we may hold funds in your account as follows: For deposits where CIT Bank, N.A. is the originator of an Automated Clearing House (ACH) transaction, we may hold the funds for 5 business days. ACH transactions originated at another US financial institution will be credited as of the business day CIT Bank, N.A. receives the funds from your bank. Checks deposited to your account will be held for 7 business days from the date the check is received. ACH, check, and wire transfer transactions from non US financial institutions are not accepted. In our sole discretion, we reserve the right to place an extended hold on transactions that may be fraudulent or suspicious.

Determining the Availability of a Deposit

The length of the delay is counted in business days from the day of your deposit. If you make a deposit that is received by us via the U.S. Postal Service, overnight carrier or courier before 2:00 p.m. PT on a business day that we are open, we will consider that day to be the day of your deposit. However, if a deposit is received by us after 2:00 p.m. PT or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If you make a Mobile Deposit before 4:00 p.m. PT on a business day that we are open, we will consider that day to be the day of deposit. If a deposit is received by us through Mobile Deposit after 4:00 p.m. PT on a day we are open for business, we will consider that deposit to be made on the next business day we are open.

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About Sending Communications, Notices and Statements to You

You should promptly review all notices, account statements and other communications (hereafter referred to as "communications") we send you. Many communications will inform you of changes affecting your rights and obligations. When we send communications we may:

  • address notices to one account owner;
  • destroy communications that are sent to you and returned to us as being undeliverable, along with any accompanying checks and other items;
  • authorize the post office or an agent to destroy communications along with accompanying checks and other items that the post office informs us are undeliverable;
  • send communications to you at the electronic or street address we have in our records for your account; and
  • stop sending communications to you until a new address is provided to us if we reasonably believe that the address we have in our records for your account is wrong.

We are not responsible for communications lost while not in our possession.

Delivery of Communications about Changes

When we inform you of changes affecting your accounts, rights and obligations, we do so by delivering or making the communication available to you. In some cases, we may post a notice of a change on our website. Otherwise, we may mail the communication regarding a change to you at the address currently in our records or via text message, e-mail, secure messaging or other means (if you have agreed to such method). We may provide a communication as a message on your statement or as a statement insert. If a communication of a change is returned to us as undeliverable, or if we stop sending communications to you because previous communications (including account statements) we sent you were returned to us as undeliverable, you understand that copies of such communications can be requested from us by calling 855.462.2652. You agree to these methods of delivery and that changes covered in these communications are effective and binding on you. A communication sent to any one account owner is deemed notice to all account owners.

Change of Address

You agree to notify us immediately of any change of your street or email address. We may require that you notify us of any change of address in writing. You may request to change your address by calling us at 855.462.2652, or visiting our website at We may update your mailing address if we receive information from the postal service or a reliable third party that you have moved and have a new address. It is your responsibility to ensure that the contact information in your Online Banking profile is current and accurate. This includes, but is not limited to, name, address, phone numbers, and email address.

Changes in Ownership and Authorized Signers

You agree to notify us immediately in writing of any change in your name or the authorized signers on your account. We may rely solely on our account records to determine the ownership of your account.

If the authorized person(s) on your account changes, we may continue to honor items and instructions given earlier by any previously authorized person(s) until we receive specific notice from you in writing not to do so. In some instances we may require you to close your account or provide us with stop payment orders in order to prevent transactions from occurring. There may be a delay in implementing a change in the authorized signers on our records, and you agree that we will be given a reasonable opportunity to make the necessary changes.

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Precautions You Should Take

To help prevent fraud and identity theft as well as protect your assets, we recommend that you take the following precautions:

  • Notify us immediately if any document containing your identification is lost or stolen.
  • Do not share your username or account access password with anyone;
  • Keep accurate records of your account transactions and reconcile your statements as soon as they are made available to you.
  • Contact us immediately at 855.462.2652 if there are any discrepancies on your statement that you cannot explain or if you do not receive a statement when expected.
  • If using our mobile banking service, protect your mobile phone or other device with a passcode or other security feature to prevent anyone other than you from accessing your accounts.
  • Additional information about protecting your accounts is available on

Closing a Compromised Account

If you or we suspect that your account is or may be compromised (including any unauthorized transactions on the account), we may recommend that you close your account and open a new account. If we recommend that you close your account and you do not do so, we are not liable to you for subsequent losses or damages on the account due to unauthorized transactions. When you open a new account, you are responsible for notifying any third parties that need to know your new account number.

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Please note that different notice and liability rules apply to certain electronic fund transfers. See the section entitled "Electronic Funds Transfer Agreement and Disclosure" in this document.

Types of Unauthorized Transactions

Some examples of unauthorized transactions or potential problems include: suspected fraud; missing deposits; missing, stolen or unauthorized withdrawal orders; withdrawal orders bearing an unauthorized signature, endorsement or alteration; illegible images; and encoding errors made by you or us;

Reviewing Statements and Reporting Unauthorized Use of Your Account

We provide you with periodic statements listing your account transactions. You agree to promptly and carefully examine all statements, notices and paid items that we send or otherwise make available to you and report any discrepancies, problems or unauthorized transactions to us immediately. You must promptly report and reimburse us for any erroneous credit. You agree that within 30 calendar days after we make a statement or transaction notice available to you, you must report to us any problem or unauthorized transactions including (without limitation) a claim for credit or refund due for an erroneous debit. It is agreed that the first business day following the statement date or the date we otherwise make the information available to you is the start of the 30 calendar day period.

Not Reporting Unauthorized Transactions Timely

If you do not notify us within the time frame specified above, it is agreed that we will conclusively presume that the stated balance is correct regarding debits described on the statement. This means that we are released from all liability for the items charged to your account, and for all other transactions or matters covered by the statement. If you don't report to us missing debit items, unauthorized transactions or other suspected misuse of your account, in addition to any rights we have by law, the Bank will not be responsible for any subsequent fraudulent uses of your account by the same person that occur after you have been afforded a reasonable period of time (not exceeding 30 calendar days) after we send a statement containing information about the first fraudulent transaction.

Our Investigation of Your Unauthorized Transaction

If you report to us that an unauthorized transaction has occurred, you agree to cooperate with us in the investigation of your claim. You agree to provide us with an affidavit containing the information we require concerning the transaction. You also agree to assist us in identifying and prosecuting the suspected wrongdoer(s). You agree that we have a reasonable period of time to investigate the facts surrounding any loss you claim, and that we are under no obligation to provisionally credit your account during our investigation.

Voluntary Disclosure of Your Account Number

If you voluntarily disclose your account number to another person through any means, you are deemed to authorize each item, including electronic debits, which result from your disclosure. We may pay these items and charge your account.

Our Maximum Liability

Unless provided elsewhere in this Agreement, our maximum liability is the lesser of your actual damages proved or the amount of the missing deposit, forgery, alteration or other unauthorized withdrawal, reduced in all cases by the amount of the loss that could have been avoided by your use of ordinary care. We are not liable to you for any consequential losses or damages of any kind, including loss of profits or attorneys' fees incurred by you.

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Automatic Transfer Service

You may have funds transferred automatically from your savings accounts to another account with us.

Federal regulations place limits on the number of automated transfers you may make from savings accounts each month. Please refer to our "Consumer Products" section for these withdrawal limitations.

You may schedule transfers periodically on the dates and for the amounts that you specify. Transfers can only be made on a business day. If a scheduled transfer date falls on a weekend or bank holiday, we may make the transfer on the next business day. If we are unable to complete a transfer because you do not have enough available funds in your account, we may cancel this service.

Business Days

Our "business days" are Monday through Friday, excluding Saturdays, Sundays, and federal holidays, even if we are open. You may use your computer to access the Online Banking services 24-hours a day, seven days a week, except when the system is unavailable.

Closing an Account

You, or we, in our sole discretion, may close your account at any time with or without cause. If we close your account, we may send the balance on deposit in your account by ordinary mail to your most recent address shown on our account records. We may, but are not required to, allow you to leave on deposit sufficient funds to cover outstanding items to be paid from your account. If we do allow such funds to remain on deposit, the terms and conditions of this Agreement will continue until we make a final disbursement from the account. If we do not allow you to keep any funds on deposit, we are not liable for any loss or damage that may result from not honoring any of your items or transactions that are presented or otherwise received after your account is closed. We may also report to third parties that we have closed your account. If you request us to close your account and issue the balance using an official Bank check to you or a designated payee, or to transfer funds to another financial institution by check or by wire, we may charge a fee.

Complete Agreement, Captions

This Agreement sets forth the entire understanding between us and you with respect to your accounts and the Services and supersedes any prior agreement, oral or written, and any other communications between you and us relating to the subject matter of this Agreement. If there is a conflict between what any of our employees or agents say, and the terms of this Agreement, the terms of this Agreement will prevail.


You agree to comply with all applicable laws and regulations, including, without limitation, U.S. economic sanctions laws and regulations administered by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department. You agree not to use your account for any illegal transactions or activity, for example, those prohibited by the Unlawful Internet Gambling Act of 2006. If we suspect that you are using your account in violation of the law or to conduct illegal transactions we may refuse the transactions or freeze the amount in question or the entire account while we investigate the matter.

Conflicting Claims to Funds or Other Property

If there is any uncertainty regarding the ownership of an account or its funds, or if there are conflicting demands over its ownership or control; we are unable to determine any person's authority to give us instructions, or we are requested by Adult Protective Services or any similar state or local agency to freeze the account or reject a transaction due to the suspected financial abuse of an elder or dependent adult; or we believe a transaction may be fraudulent or may violate a law, we may, at our sole discretion:

  • freeze the account and refuse transactions until we receive written proof (in form and substance satisfactory to us) of each person's right and authority over the account and its funds;
  • require the signatures of all authorized signers for the withdrawal of funds, the closing of an account or any change in the account regardless of the number of authorized signers on the account;
  • request instructions from a court of competent jurisdiction at your expense regarding the account or transaction; and/or
  • continue to honor transactions and other instructions given to us by persons who appear as authorized signers according to our records.

The existence of the rights set forth above shall not impose an obligation on us to assert such rights or to deny a transaction.

Death or Incompetence

You agree to notify us immediately if any owner or authorized signer on your account dies or is declared incompetent by a court of appropriate jurisdiction. Until we receive a notice of death or incompetency, we may act with respect to any account or service as if all owners, signers, etc. are alive and competent, and we will not be liable for any actions taken on that basis. If you give us instructions regarding your account, and you or another owner of the account subsequently dies or is declared incompetent, we may act on the instructions unless we receive written notice of death or incompetency prior to honoring such instructions. When we receive a notice that an owner has died or been declared incompetent, we may place a hold on the account and refuse to accept transactions. If there is any question as to the ownership of the funds as a result of the death of an owner, we may place holds on any funds in the account pending receipt of satisfactory proof of each person's right to the funds. If a deposit payable to the deceased owner is credited to the account after the date the deceased owner died, we may debit the account for the deposit and return it to the payer. Such deposits could include salary, pension, governmental or retirement benefit payments.

Facsimile Signature

We may rely and act upon a facsimile signature (or "signature stamp") affixed by anyone on an item drawn against or deposited to your account when that facsimile signature resembles the actual signature of an authorized signer on your account whom you have advised us will sign by facsimile signature or who, as a matter of practice, signs by use of a facsimile signature. We will not be liable to you if use of the facsimile signature was unauthorized, even if the size or color of the facsimile signature is different from that of any signature previously presented to us. You agree to indemnify us for all losses, claims, damages and expenses that result from payment of a withdrawal or item bearing a facsimile signature.

Governing Law

This Agreement, your account(s) and the Services, are governed by the laws and regulations of the United States and, to the extent applicable, the laws of the State of California, without regard to conflict of law principles. If state and federal laws are inconsistent, or if state law is preempted by federal law, federal law governs. Unless otherwise provided in this Agreement, your accounts and services will be subject to applicable clearinghouse, Federal Reserve Bank and correspondent bank rules. You agree that we do not have to notify you of a change in those rules, except to the extent required by law.

Inactive and Unclaimed Accounts

When your account has had no deposit or withdrawal activity, and we have had no contact with you regarding the account over a period of time, we consider the account to be inactive. If any account remains inactive and is unclaimed by you for the period specified under applicable state law (which is generally the state listed in the address for your account), we are required by that law to escheat the funds; that is, to deliver the balance of the account to the applicable state. When the funds in an account are delivered to the applicable state, the account is closed, and no interest accrues. To recover funds delivered to the applicable state, you must file a claim with that state. Even if you are not using your account, you may prevent your account from being delivered to the state by contacting us periodically. We encourage you to keep your account active.


Except as otherwise set forth in this Agreement, you agree to indemnify, defend and hold us harmless from all claims, actions, proceedings, fines, costs and expenses (including, without limitation, attorney fees) related to or arising out of: (a) your actions and omissions in connection with your accounts or our services and (b) our actions and omissions, provided that they are taken/omitted in accordance with this Agreement or your instructions. This provision shall survive the termination of this Agreement.

Legal Process Items

Our cutoff time for receipt of an order (e.g., restraining order, writ of attachment or execution, levy, garnishment or similar order) relating to your account is 10:00 AM PT. We may accept and act on any legal order that we believe is valid, served in person, by mail, e-mail or by facsimile transmission at any location where we do business even if the law requires personal delivery at the office where your account or records are maintained or at a centralized location. Legal orders include a levy, garnishment or attachment, tax levy or withholding order, injunction, restraining order, subpoena, search warrant, government agency request for information or other legal process relating to your account. If we are served with such an order, we will charge your account a processing fee. You agree to reimburse us for any cost or expense, including legal fees, that we incur in responding to legal process related to your account. If funds from your Certificate of Deposit account (CD) are used to satisfy a legal order, we may assess an early withdrawal penalty. If your remaining balance of the CD falls below the minimum balance requirement for your account, we will close the account and mail you a bank check for the remaining funds in the CD.

Multiple Signatures Not Required

Accountholders who indicate that multiple (two or more) authorized signatures are required for the withdrawal of funds are on notice that we will not assume any responsibility for verification of the existence of multiple signatures on orders of withdrawal against the account, that we will regard this instruction as being for the accountholder's internal purposes only, and that we will open the account only with the understanding that transaction requests bearing the signature of any one (1) of the authorized signers will be considered properly authorized for payment. Each accountholder agrees that notwithstanding any multiple signatures requirement reflected on the account, they, and each of them, indemnify and hold us harmless from any loss, claim or damage arising from the release of funds from the account upon the signature of any one of the authorized signers.

Power of Attorney

If you want to grant someone power of attorney (POA) over your account, we may require you to complete our POA form. If we are presented with a POA on a different form the POA must be satisfactory to us. If the POA was created in a state other than California you agree that California POA laws shall govern the use of the POA on your accounts. In some cases we may require that the attorney-in-fact (AIF) confirm in an affidavit that the POA has not been revoked or terminated or that you record the POA with the appropriate authorities. We are not liable for any transactions or changes made by an AIF for a deceased or incompetent principal or where such POA has been revoked unless we had written notice of such event provided in accordance with applicable law and had reasonable time to act on that notice in order to avert any loss. We also reserve the right at our discretion to restrict the types and size of transactions we permit an AIF to conduct. If we have a reasonable basis for questioning the validity of a POA or the authority of the AIF to conduct any transaction, we may request additional information of documentation or we may refuse to accept the POA.

Prohibition on Funding of Unlawful Internet Gambling

In accordance with the requirements of the Unlawful Internet Gambling Enforcement Act of 2006, this notice is to inform customers that restricted transactions are prohibited from being processed through their account or relationship with our institution. Restricted transactions are those transactions in which a person engaged in the business of betting or wagering accepts credit, funds, checks, instruments or other proceeds from another person in connection with unlawful Internet gambling. We may block or reject any such restricted transaction. Further, we reserve the right to block or close any account which we believe is in receipt of such restricted transactions.

Retaining Records

We may retain records related to your account in any form including (but not limited to) paper, and electronic medium. If we are not able to produce the original or a copy of your signature card or any other document relating to your account or service, our records (in whatever form we retain such records) will be deemed conclusive. If there is a discrepancy between your records and our records, our records will be deemed conclusive.

Right of Refusal

We reserve the right at our sole discretion to refuse to open an account or to accept a deposit to any existing account.

Right to Set-Off

We may charge or set-off funds in your account (including accounts with joint or single ownerships) for any direct, indirect and/or acquired obligations that any owner owes us, regardless of the source of the funds in the account, to the fullest extent permitted by law. This provision does not apply to IRA or tax-qualified retirement accounts, to consumer credit card obligations or where otherwise prohibited by law. If we must use principal in a certificate of deposit to satisfy the debt, an early withdrawal penalty may be charged.


If any provision of this Agreement is found to be prohibited or invalid under applicable law, that provision shall be ineffective to the extent of the prohibition or invalidity without invalidating the remainder of that provision or the remaining provisions of this Agreement.


We shall not be deemed to have waived any of our rights or remedies hereunder unless such waiver is in writing and signed by us. No delay or omission on our part in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Withdrawal Notice

We are required by law to reserve the right to require at least seven (7) calendar days advance written notice prior to permitting any withdrawal or transfer from any savings account or money market account, or any interest-bearing checking account designated by us for consumer ownership (NOW Accounts).

Zero Balance Accounts

If your account reaches a zero balance, or you apply for an account but never deposit funds into it, we may either keep the account open or close the account without notice. Generally zero balance accounts will be closed within 60 calendar days of the date the account reaches a zero balance.

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The following terms apply to Electronic Fund Transfers (EFT) governed by the Electronic Fund Transfer Act (e.g., ATM, point-of-sale and ACH transfers). Any authorized signer(s) on an account may apply for electronic fund transfer services on behalf of all authorized signers. Once an electronic fund transfer service is established, any authorized signer on your account may act alone in conducting electronic fund transactions, regardless of the number of required signers. Under this agreement, we are authorized to make all deposits, withdrawals, transfers and payments to or from your account initiated by you, through the use of an access device, or according to your electronic or automatic deposit or payment instructions.

Telephone Banking

You may use our automated telephone system by calling our Contact Center at 855.462.2652. Through the automated system you may request a transfer of funds between your accounts or obtain your account balance information. The password-protected automated telephone system is available 24 hours a day, 7 days a week, in both English and Spanish. The automated telephone system will require you to enter your personal identification number. Once you have been authenticated you can follow the menu options to either transfer funds or obtain your account information. The first time you use this service you will be requested to select your personal identification number.

Transfers: We will transfer funds between your Bank accounts using the most current available balances. Transfers cannot be made from certificate of deposit accounts.

Account Information: You can obtain information regarding your Bank accounts. Please note that balance information may not reflect recent transactions, and may include funds that are not available for immediate withdrawal. The balance information feature is not subject to the error resolution or liability sections set forth below.

Preauthorized / Automatic Transfers

Pre-authorized electronic fund transfers may be made to your account from a third party (e.g., Social Security, a pension fund or your employer) or from your account to a third party (e.g., recurring mortgage or insurance payments through the Automated Clearing House).

Please note that if federal recurring or other electronic payments are made to your account, the payments may be affected by a change in account status. If you plan to transfer your account or change its status, please call us at 855.462.26528 in advance, about the impact the change may have on your electronic fund transfer services.

Transaction Limitations

Your ability to transfer funds from savings accounts is limited by federal regulations to six preauthorized electronic fund transfers, telephone transfers and automatic transfers to another account per monthly statement cycle. Each transfer or payment through Online Banking from your savings account is counted as one of the six transfers permitted each statement period. You may be charged an excess activity fee each time you exceed the transaction limitations noted. Please refer to the Fee Schedule or call our Contact Center at 855.462.2652 for details. Should excessive withdrawals or transfers continue on your savings account, we may close your account or remove access to the account via transactions subject to the limitation including by preauthorized withdrawal, automatic transfer or POS transaction.

Certain transfers using Online and Mobile Banking services may have limitations on the frequency or dollar amount of permitted transfers, as disclosed in the sections of this Agreement describing such services.

Record of Your Transactions

Preauthorized Credits: 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 speak to one of our Contact Center representatives at 855.462.265 or go online at at any time to check on the status of your deposit.

Account Statements: You will get a monthly account statement unless there is no account activity for a particular month in which case you will get a statement at least quarterly.

Varying Preauthorized Transfers: If you have arranged in advance to have regular payments made from your account and they 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 would differ by more than a certain amount from the previous payment or when the amount would fall outside certain limits that you set.

Our Liability for Failing to Make Transfers

If we do not complete an electronic fund 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, including but not limited to the following:

  • Through no fault of ours, you do not have enough available funds in your account to make the transfer;
  • Circumstances beyond our control such as fire, flood, and water damage, power failure, strike, labor dispute, computer breakdown, telephone line disruption, natural disaster or a rolling blackout preventing or delaying the transfer despite reasonable precautions taken by us;
  • The system was not working properly and you knew about the problem when you started the transaction;
  • The funds in your account are subject to legal process, an uncollected funds hold or are otherwise not available for withdrawal;
  • The information supplied by you or a third party is incorrect, incomplete, ambiguous or untimely;
  • We have reason to believe the transaction may not be authorized by you.

There may be other exceptions stated in our agreement with you.

Your Liability for Unauthorized Electronic Fund Transfers

Tell us AT ONCE if you believe your user name or password has been compromised or stolen, or if you believe that an electronic fund transfer has been made without your permission using your username or password. Telephoning us is the best way of keeping your possible losses down. You could lose all the money in your account. If you tell us within two (2) business days after you learn of the theft of your username or password, you can lose no more than $50 if someone used your username or password without your permission. If you do NOT tell us within two (2) business days after you learn of the theft of your username or password, and we can prove we could have stopped someone from using your account without your permission if you had told us, you could lose as much as $500.

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 made available 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 periods. Unauthorized use does not include use by a person to whom you have given your username , password (or other access device) and you will be liable for all use by such person.

How to Stop Preauthorized Transfers from Your Account

If you have told us in advance to make regular payments out of your account, you can stop any of these payments by writing to us at CIT Bank, P.O. Box 471, Santa Monica, CA 90406-0471, or by calling us at 855.462.2652. We must receive your request at least three (3) business days before the payment is scheduled to be made. Please note that if you fail to give us your request at least three (3) business days prior to a transfer, we may attempt, at our sole discretion, to stop the payment. We assume no responsibility for our failure or refusal to do so, however, even if we accept the request for processing.

If you call, we may require you to put your request to us in writing and to provide us with a copy of your notice to the payee, revoking the payee's authority to originate debits to your account, within 14 days after you call. If we do not receive the written confirmation within 14 days, we may honor subsequent debits to your account. For individual payments, your request should specify the exact amount (dollars and cents) of the transfer you want to stop, the date of the transfer and the identity of the payee. Unless you tell us that all future transfers to a specific recipient are to be stopped, we may treat your stop payment order as a request concerning the one transfer only. If you order us to stop one of these payments at least three (3) business days before the transfer is scheduled and we do not do so, we will be liable for your losses or damages, proximately caused by our failure to stop payment.

Compromised or Stolen Username/Password or Unauthorized Transaction

If you believe your username or password has been compromised or stolen or that someone has transferred or may transfer money from your account without your permission, call us at the number or write us at the address described in the preceding section.

In Case of Errors or Questions about Your Electronic Transfers

Call us at the number or write us at the address described above as soon as you can if you think your statement or receipt is wrong or if you need more information about an electronic transaction. 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.
(2) Describe the error or 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.

In addition, it would be helpful if you provided us with any supporting documentation related to the 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 determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time that it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. If you have been given provisional credit, the amount will be deducted from your account. You may ask for copies of the documents that we used in our investigation.


CIT Bank recognizes that our customers and others visiting our online websites have an expectation of privacy in their dealings with us. For these reasons, CIT Bank takes the security and privacy of customer information very seriously. Please see CIT Bank's Privacy Policies, which can be found on our website at and clicking on the Privacy link at the bottom of the page for more specific terms and conditions.

We may disclose information about your account or the transfers you make.
(i) Where it is necessary for completing transfers, or
(ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
(iii) In order to comply with government agency or court orders, or
(iv) If you give us your written permission.

Change in Terms / Termination of Service

We may change (add to, delete or amend) the terms or terminate your use of our electronic fund transfer services at any time, with or without cause, and without affecting your outstanding obligations under this Agreement. We may terminate or suspend your electronic fund transfer service immediately if:

  • any of you breach this or any other agreement with us;
  • we have reason to believe that there has been or may be an unauthorized use of your account, username or password;
  • there are conflicting claims to the funds in your account; or
  • any of you requests that we do so.

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General Provisions

The following terms apply to wire transfers and certain other types of funds transfers you send or receive through us. They do not apply to electronic fund transfers governed by the Electronic Funds Transfer Act (EFTA). If you have a specific agreement with us for these services, these provisions supplement that agreement to the extent these provisions are not inconsistent with the specific agreement. Also, the Uniform Commercial Code includes provisions relating to funds transfers.

The provisions in this section define the following terms and are used here as they are defined in Division 11 of the California Commercial Code:

  • "Funds transfer" is the process of carrying out a request to pay funds to a specified beneficiary.
  • "Payment order" is the set of instructions given to the Bank to transfer funds.
  • "Beneficiary" is the person or business who receives the payment.

Related Fees

We may deduct our fees from your account or from the amount of the transfer. For current fees, please see the Fee Schedule.

About Fedwire

Fedwire is the electronic funds transfer system of the U.S. Federal Reserve Banks. When you send a payment order or receive a funds transfer, any or all banks involved in the funds transfer may use Fedwire. If any part of a funds transfer is carried out by Fedwire, your rights and obligations are governed by Regulation J (Collection of Checks and Other Items though Federal Reserve Banks and Funds Transfers through Fedwire).

Sending Wire Transfers

You may subscribe to certain funds transfer services we offer or you may give us other instructions to pay money to a beneficiary. This section applies to wire transfers and transfers we make between CIT Bank accounts. It does not apply to automated clearing house (ACH) funds transfer services.

Execution of Orders. We will make commercially reasonable efforts to execute the requested payment order. We may select any intermediary bank, third party or means of transmittal to execute the Order, and the means selected may differ from that indicated on the Order. Confirmation of receipt from the recipient may be requested, however, we cannot guarantee that such confirmation will be provided by the beneficiary bank or other intermediaries.

Reliance on Beneficiary Identifying Information. We shall rely solely upon the beneficiary information provided by you. The beneficiary's bank and/or other intermediary parties to the wire transfer may make payment to the beneficiary based solely on the account or other identifying number provided by you, even if the name on the account differs from that on the Order. We , or an intermediary, may send a payment order to a subsequent intermediary or beneficiary bank based solely on the beneficiary bank identifying number, even if the Order indicates a different bank name. We shall have no liability to you in the event a wire transfer is credited to the wrong account, is rejected, is delayed, or fails to be received by the intended beneficiary as a result of you providing incorrect beneficiary and/or beneficiary bank information.

Fees Imposed by Intermediary and/or Beneficiary Bank. An intermediary and/or beneficiary bank may charge a fee for processing a funds transfer and we are not responsible for this fee. This fee may be deducted by the intermediary and/or beneficiary bank from the amount to be credited to the beneficiary of the funds transfer.

Cutoff Times for Processing: We have cutoff times for processing payment orders. Cutoff times vary depending on the type of payment order. We may treat payment orders we receive after a cutoff time as if received the next business day. Cutoff times are available upon request.

Amending or Canceling Payment Orders: You may not amend or cancel a payment order after we receive it. If you ask us to do this, we may make a reasonable effort to act on your request. However, we will not be liable to you if a payment order is not amended or canceled. You agree to reimburse us for any costs, losses or damages that we incur in connection with your request to amend or cancel a payment order.

Inconsistency of Payment Order Information: The beneficiary's bank may make a payment to the beneficiary based solely on the account or other identifying number, even if the name on the payment order differs from the name on the account. We or an intermediary bank may send a payment order to an intermediary bank or beneficiary's bank based solely on the bank identifying number, even if the payment order indicates a different bank name.

Selecting Intermediary Bank: We may select any intermediary bank or means of transmittal to send your payment orders. Our selection may differ from that indicated in your instructions.

Notice of Rejection: We may reject payment orders. We will notify you of any rejection by phone, electronically or in writing. If we send written notice by mail, we will do so by the end of the next business day. We are not liable to you for the rejection or obligated to pay you interest for the period before you receive timely notice of rejection.

Limitation of Liability: We are not responsible for any failure or delay by any bank or other third party intermediary in executing or failing to execute an Order. We shall not be liable for damages arising from the execution of the Order so long as we act in good faith and in accordance with the terms of account. In no event, regardless of the form or nature of the claim or action, will we be liable for punitive, incidental, special or consequential damages arising from execution of the Order.

Errors or Questions About Your Payment Orders: We will notify you about funds transfers by listing them on your account statement. In some cases, we also may notify you electronically, in writing or by a report produced through one of our information reporting services. You must notify us at once if you think a funds transfer shown on your statement or notice is incorrect. You must send us written notice (with your question or a description of why you believe an error has been made) no later than 14 days after the date you receive the first notice or statement on which the problem or error appears. If you fail to notify us within this period, we are not liable for any loss of interest because of an unauthorized or erroneous debit or because your statement or notice is incorrect. We are not required to compensate you, and we are not required to credit or adjust your account for any loss of interest.

Compensation: We are not obligated to pay for loss of interest that results from our error or delay regarding your payment order. If in our discretion we do agree to do so, we calculate compensation using the interest rate applicable to the account.

Receiving Wire Transfers and Certain Other Funds Transfers

We may receive instructions to pay funds to your account. We may receive funds transfers directly from the sender through a funds transfer system. This includes wire transfers, ACH transfers and transfers between CIT Bank accounts.

Notice of Incoming Funds Transfer: We notify you that we have received funds transfers by listing them on your account statement. We do not send you a separate notice of each incoming funds transfer. If you are expecting a funds transfer and want to find out if it has been credited to your account, you can speak to one of our Banker in the Contact Center at 855.462.2652 or go online at to find out whether or not the deposit has been posted.

ACH Debits and Credits

You may authorize originators to send automated clearing house (ACH) credits or debits for your account. Each ACH transaction is subject to the National Automated Clearing House Association (NACHA) Operating Rules. You agree that we may rely on the provisions and related warranties contained in these operating rules and credit or debit your account in accordance with the instructions from the originator.

ACH Provisional Credits: Credit for an ACH transfer is provisional until final payment is received by the payee's financial institution. Until that happens, the party originating the transfer is not deemed to have made payment to the payee, and the payee's bank is entitled to a refund of the provisional credit. If we give you provisional credit for an ACH transfer, but do not receive final payment, you become obligated to us for the full amount without prior notice or demand.

Notice of Incoming Transfer: We are not required to give you a separate notice of our receipt of an ACH transfer. If we accept ACH credits to your account, you will receive notice of the credit on your next regular periodic statement. You can speak to one of our Bankers in the Contact Center at 855.462.2652 or go online at to find out whether or not a transfer has been credited to your account.

Exercising Caution: You should be careful about giving someone your account number to help prevent unauthorized transactions on your account. You are required to notify us immediately of any unauthorized activity on your account. As noted in this Agreement, your failure to review your bank statement in a timely manner or to safeguard your account information could result in losses to you.

International Wire and ACH Transactions

You acknowledge that in the event of an international wire transfer or ACH transaction ("IAT") that is transmitted to or from any of your accounts is identified and designated by our screening criteria for review and examination under the OFAC Rules and Regulations ("OFAC Rules"), then the settlement of such transaction may be delayed or suspended pending our review of the transaction and may be terminated under applicable OFAC Rules. You also acknowledge that we may be required to place an indefinite hold on the funds received if the transaction is required to be terminated under the OFAC Rules. You agree that any delay described in the foregoing provisions of this paragraph is a permissible delay under the terms of laws and regulations applicable to the availability of funds held in deposit accounts. In the event a transaction is delayed or terminated, we will provide you such notice as may be required by the NACHA Rules, OFAC Rules or other applicable laws and regulations.

OFAC Rules: Economic and trade sanctions administered and enforced by the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury to prevent "prohibited transactions" based on US foreign policy and national security goals against targeted foreign states, organizations and individuals.

NACHA Rules: An annual publication issued by the National Automated Clearing House Association (NACHA) incorporating the rules and regulations that govern the use of the ACH network in which all ACH participants must comply.

IAT: International ACH transaction means a credit or debit entry that is part of a payment transaction involving a financial agency's office that is not located in the territorial jurisdiction of the United States.

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This service allows you to view current and past account statements for all of your accounts on a secure website. Pursuant to your agreement with us, you may be entitled to receive periodic account statements in connection with your account(s) ("account statements"). When you open an account on our website, you authorize us to deliver such periodic account statements electronically ("Online Statements") subject to the terms of the E-Sign Consent you agreed to when you opened your account. The term "Online Statements" also includes any disclosure or change in terms notification in connection with your account(s) in electronic format that we would otherwise include with periodic account statements. We will send an email to your primary email address notifying you that an Online Statement is ready to be viewed on the Online Banking Service website.

You may request a paper copy of any periodic regular Account Statement subject to the fee as set forth in the Fee Schedule. Paper copies of any disclosures or change in terms notifications included in an Online Statement will be provided at no charge.

If you disclose your online banking password to other people, they may also have the ability to access your account statements, and you will be responsible for any transactions they may complete. You must notify us immediately if you believe any of your accounts have been accessed or your online banking password has been used without your permission to access your accounts.

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Password Security: It is important to keep your password confidential to prevent unauthorized transactions on your CIT Bank accounts. We recommend that you use different passwords for telephone banking and Online Banking. If you forget your password, you may use the "forgot your password" link on the login page or if you need assistance establishing Online Banking you may call our Contact Center and speak to one of our Bankers at 855.462.2652. You should change your password frequently to help safeguard the security of your accounts. Our employees will never contact you via email or by phone requesting your online password. If you are contacted by anyone requesting this information, do not provide it and contact us immediately at 855.462.2652.

Your Responsibility: You are responsible for all transfers you authorize using our Online Banking services. If you permit other persons to use the Online Banking services or your password, you are responsible for any transactions they authorize from your accounts whether or not you intended that they perform these transactions. Transactions that you initiate, or someone acting with your authorization initiates, with fraudulent intent, will also be considered authorized transactions. You must notify us immediately if you believe any of your accounts have been accessed without your permission or your password has been compromised. Contacting us immediately will help you reduce possible losses.

Intellectual Property: All marks and logos related to the Service are either trademarks or registered trademarks of us or our licensors. In addition, all page headers, custom graphics, button icons, and scripts are our service marks, trademarks, and/or trade dress or those of our licensors. You may not copy, imitate, or use any of the above without our prior written consent, which we may withhold in our sole discretion, and you may not use them in a manner that is disparaging to us or the Service or display them in any manner that implies our sponsorship or endorsement. All right, title and interest in and to the Service, the portion of the website (the "Site") through which the Service is offered, the technology related to the Site and Service, and any and all technology and any content created or derived from any of the foregoing, is our exclusive property or that of our licensors.







Consent to Receive Telephone Calls/Text & SMS Messages: When you provide us with your residential, business or mobile telephone number you are deemed to have expressly consented to receiving telephone calls and text or SMS messages to such numbers. You also consent to receipt of such calls or messages made by us using an auto dialer and/or prerecorded or artificial voice messages. You agree that we may make such calls to you to provide the online banking services as well as to offer you additional products or services.

Cut-Off Times: The following cutoff times pertain to specific Online Banking transactions. Transactions received on any business day prior to the cutoff time indicated below will normally be posted the same day.

  • External Funds Transfers: 4:00 PM PT
  • Mobile Remote Deposit Capture: 4:00 PM PT

Transactions received via Online Banking on any business day after the cutoff time indicated will be posted by the next business day after we received your transaction.

Online Banking Service Charges: Any Online Banking fees and charges that apply to your accounts are described in our current Fee Schedule. Such fees may be assessed for performing additional services through Online Banking, such as processing stop payment requests, statement copy orders and transactions that result in non-sufficient funds. Consult the Fee Schedule for details. You should note that depending upon how you access your Online Banking you may incur Internet service provider fees and telephone charges.

Basic Online Banking Services

Online Banking provides a core set of basic banking functions described below. Additional optional services for which you must enroll separately are described later in this Agreement.

Account Balances: Account balances are available through Online Banking for your savings and certificate of deposits including retirement accounts. Online Banking lists your account balance as well as your available balance in real time as of the time you submit the transaction to us for processing. Your account balance may include unavailable funds. The available balance consists of funds that are readily available for withdrawal.

Internal Transfers: Internal transfers can be made from any savings account on either a "one time" or "recurring" (at regular intervals) basis. Transfers can be processed between eligible accounts that share one common owner. You must be an owner of and have the unrestricted right of withdrawal from all eligible accounts to and from which you request any transfers. We reserve the right to limit the frequency and dollar amount of transactions on your accounts for security reasons. When you use this service, you must have sufficient funds available on the date of the transfer (or scheduled transfer date) in the selected account (including available overdraft protection coverage, if applicable) to cover the amount of the transfer.

Viewing Transaction History: You may view transaction history information on any of your savings accounts.

Email and Text Alerts: You may set up automatic email or text alerts to yourself when certain events occur on accounts designated by you. These include, for example: (1) balance alerts when your account balance falls below and increases above an amount specified by you; (2) transaction alerts when any deposit or withdrawal transaction greater or less than an amount specified by you occurs on your account; or (3) email alerts that notify you when there is a secure message for you from us on our Online Banking website. A complete list of all available alerts can be found on the Online Banking website. It is therefore important that you keep your email address current. There are no fees specifically associated with setting up or cancelling these alerts. In addition to the alerts you set up, we will use e-mail or text alerts to communicate with you regarding your accounts from time to time.

Text Message Alerts (SMS) Terms of Use

If you set up Text Alerts the following Terms of Use apply:

  • Your wireless carrier's standard messaging rates apply to your entry or submission message, our confirmation and all subsequent SMS correspondence. We do not charge for any content; however, downloadable content may incur additional charges from your wireless carrier. Please contact your wireless carrier for information about your messaging plan. Your carrier may impose message or charge limitations on your account that are outside of our control. All charges are billed by and payable to your wireless carrier.
  • By subscribing, you consent to receiving up to 90 SMS messages per day, including text messages from us which may include offers from us, our affiliates and partners. You can unsubscribe at any time from all services by sending STOP to 20736.
  • You represent that you are the owner, or authorized user of the wireless device you use to subscribe to the service, and that you are authorized to approve the applicable charges.
  • We will not be liable for any delays or failures in your receipt of any SMS messages as delivery is subject to effective transmission from your network operator and processing by your mobile device. SMS message services are provided on an AS IS, AS AVAILABLE basis.
  • Data obtained from you in connection with this SMS service may include your mobile phone number, your carrier's name, and the date, time and content of your messages and other information that you may provide. We may use this information to contact you and to provide the services you request from us, and to otherwise operate, develop and improve the service. Your wireless carrier and other service providers may also collect data from your SMS usage, and their practices are governed by their own policies. We will only use the information you provide to the service to transmit your text message or as otherwise described in this document. Nonetheless, we reserve the right at all times to disclose any information as necessary to satisfy any law, regulation or governmental request, to avoid liability, or to protect our rights or property. When you complete forms online or otherwise provide us information in connection with the service, you agree to provide accurate, complete, and true information.
  • The service as well as the content and materials received through the service are proprietary to us and our licensors, and is for your personal, non-commercial use only. You shall not damage, impair, interfere with or disrupt the service or its functionality.
  • The service is available only in the United States.
  • We reserve the right to alter charges and/or these terms and conditions from time to time. We may suspend or terminate the service to you if we believe you are in breach of our terms and conditions. Your service is also subject to termination in the event your wireless service terminates or lapses. We may discontinue the service at any time.
  • If you have any questions, email You can also text the word HELP to 20736 to get additional information about the service. We do not charge for help or info messages; however, your normal carrier rates apply.

External Account Transfer Service

These External Transfer Service -Terms of Use govern your use of the External Account Transfer Service.


"Account" means a savings account.
"Business Day" is every Monday through Friday, excluding Federal Reserve holidays.
"Recipient Account" is the account to which your funds with be credited.
"Service" means the External Account Transfer Service.
"Transaction Account" is the Account from which your funds will be debited, your Service fees will be automatically debited, or to which funds will be returned.
"Transfer Instruction" is the information provided by you to the Service for a transfer of funds to a Recipient Account.

Transfer Authorization and Processing: The Service enables you to transfer funds between your Accounts that you maintain with us and also between your Account(s) with us and your Account(s) at other financial institutions. You must an owner of the Transaction Account and the Recipient Account and have all necessary legal right, power and authority to transfer funds from the Transaction Account to the Recipient Account. When we receive a Transfer Instruction from you, you authorize us to debit your Transaction Account and remit funds on your behalf to the Recipient Account designated by you on the date selected by you. You also authorize us to reverse a transfer from your Recipient Account if the debit is returned from the Transaction Account for any reason, including but not limited to nonsufficient funds.

Transfer Limits: We may, at our sole discretion, impose limits (per transfer limit, per day limit, and limit on the total dollar amount of transfers over the 7 day period preceding the transfer you are currently requesting) on the amount of money you can transfer through the Service based on your account relationship with us or our review of your credit rating obtained through an authorized bureau. We reserve the right to increase or decrease these limits from time to time. In addition, transfers from your savings account via this Service are subject to the transaction limitations (including any related fees) as set forth in the Transactions Limitations section.

Prohibited Transfers: Transfers to Accounts outside of the United States or its territories are prohibited. In addition, transfers that violate any law, statute, ordinance or regulation, any transfers related to illegal gambling, illegal gaming and/or any other illegal activity are prohibited through the Service.

Ownership Confirmation: When you request an external transfer from your Transaction Account to an account at another financial institution (the "institution") for the first time, we must first confirm your ownership of that external account by sending two (2) small "test" deposits to the external account (and 2 offset withdrawals ). We will send these test transactions to the external account via ACH within three business days of your request to add an external account. You should then check the transaction history of your external account frequently for these test transactions (each will have a transaction description of "CIT BANK TRANSFER). Once these test transactions appear, record them, access the External Transfers link on CIT Bank's Online Banking Service, and input the two test deposit amounts where requested to complete the external account registration process. Once the test deposit amounts are verified, you may then submit your external account transfer request.

Transfer Cancellation Requests and Refused Transfers: You may cancel a transfer at any time until it begins processing (as shown in the Service). However, once a transfer has started processing, you will not be able to cancel the transaction. We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Transaction Account. If this is unsuccessful (for example, the Transaction Account has been closed) we will make reasonable attempts to mail you a paper check.

Stop Payment Requests: You may not place a stop payment on any external transfer. However, you may cancel a transfer request provided that processing of the transfer has not begun.

Service Fees and Additional Charges: There is no service fee for signing up for or requesting an external transfer. See the Fee Schedule for other charges that may apply . You are responsible for any and all telephone access fees and/or Internet service fees that may be assessed by your telephone and/or Internet service provider.

Failed or Returned Transfers: If we are unable to complete the transfer for any reason associated with your Transaction Account (for example, there are insufficient funds in your Transaction Account to cover the transaction), the transfer may not be completed.

Refused Transfers: We reserve the right to refuse any transfer to a Recipient Account. We will notify you promptly if we decide to refuse to transfer funds to a Recipient Account. This notification is not required if you attempt to make a transfer prohibited under these Terms of Use.

Returned Transfers: Transfers may be returned for various reasons such as, (but not limited to) Recipient Account number is not valid. We will use reasonable efforts to research and correct the transfer to the intended Recipient Account or void the transfer and credit your Transaction Account.

Information Authorization: Your enrollment in the Service may not be fulfilled if we cannot verify your identity or other necessary information. Through your enrollment in the Service, you agree that we reserve the right to request a review of your credit rating at our own expense through an authorized bureau.

Service Cancellation, Termination, or Suspension by Us, and Other Remedies for Breach: If we have reason to believe that you have engaged in any of the prohibited activities described in these Terms of Use or have otherwise breached your obligations under these Terms of Use or the Agreement, we may terminate, suspend or limit your access to or use of the Service. In addition, we, in our sole discretion, reserve the right to terminate your use of the Service for any reason and at any time. Neither termination nor suspension shall affect your liability or obligations.

Limitation of Liability: We shall not be liable for late charges, interest, penalties or other amounts incurred by you for your failure to allow sufficient time for processing and delivery of any transfer so long as we has complied with the provisions of this agreement.

We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances:

  • If, through no fault of ours, the Transaction Account does not contain sufficient funds to complete the transfer or the transfer would exceed the credit limit of your overdraft account;
  • The Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction;
  • The transfer is refused as described above;
  • You as a Sender have not provided us with the correct information, including but not limited to the correct Transaction Account or Recipient Account information. We will make a reasonable effort to stop or recover a transfer made to the wrong Recipient Account once informed, but we do not guarantee such recovery; and/or,
  • Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances.

Mobile Banking Services

Mobile Banking Services allow you to obtain certain account related services through our Mobile Banking Website via a cell phone or other handheld mobile device ("Device") initiated by means of a downloadable application (the "Downloadable App" or "Mobile Banking App"). Mobile Banking Services are subject to the Mobile Banking Terms of Use and End User License Agreement you must accept when you download the Mobile Banking App in order to enroll in and use Mobile Banking Services. Mobile Banking Services and the individual services you access through Mobile Banking Services, such as Mobile Remote Deposit Capture, are also subject to this Agreement.

The End User License Agreement (License Agreement) grants you the limited right to install, access, and use the Downloadable App on a personal Device owned or controlled by you, solely for your own personal, non-commercial use. In the event any term of the License Agreement conflicts with any term of this Agreement or Mobile Banking Terms of Use, the License Agreement shall control to the extent of any conflict.

Mobile Remote Deposit Capture

The Mobile Remote Deposit Capture Services ("Mobile RDC") allow you to make deposits to your designated eligible accounts by using a compatible mobile phone or other handheld device to scan original paper checks and electronically deliver the images and associated deposit related information to us. Your enrollment in and use of Mobile RDC constitutes your acceptance of the Terms of Use set forth below. Your use of Mobile RDC is also governed by this Agreement, the Mobile Banking Services Terms of Use and Mobile Banking End User License Agreement.

User Qualifications: You must elect to enroll in Mobile RDC and we must approve you based upon qualification criteria we determine in our sole discretion. You must obtain and maintain, at your sole expense a compatible handheld device and associated wireless service plan from your wireless provider. You must also download and install on your device our Mobile Banking App.

Eligible Checks: You can only scan and deposit original paper checks (as defined in the Expedited Funds Availability Act/Regulation CC) that are drawn on or payable through U.S. financial institutions. We are not obligated to accept for deposit any check image that we determine to be ineligible for Mobile RDC including but not limited to:

  • Any form of monetary instrument including travelers checks, money orders and US Savings Bond
  • Checks drawn on or payable through foreign financial institutions
  • Checks payable to a third party
  • Checks transmitted from outside the United States or a high risk IP address
  • Demand drafts or remotely created checks (i.e., checks lacking the original signature of the drawer)
  • Substitute checks (i.e., paper checks created from an electronic image)
  • Checks that are irregular in any way (e.g., where the numerical and written amounts are different)
  • Checks that have previously been returned unpaid (re-deposited checks)
  • Checks that are postdated or more than six months old
  • Checks drawn on a foreign bank or payable in a foreign currency
  • Checks payable to Cash
  • Checks drawn on the U.S. Treasury or Registered government warrants
  • Any check that the client suspects is fraudulent or not properly authorized
  • Any check or checks that exceed the transaction limitation(s) that CIT establishes

Image Quality: The image of a check transmitted via Mobile RDC must be legible. The image quality of the checks must comply with the requirements established from time to time by ANSI, the Board of Governors of the Federal Reserve Board, or any other regulatory agency, clearing house or association. The images of the front and back of each check must legibly display all of the following fields of information:

  • The amount of the check
  • The payee
  • The drawer's signature
  • The date of the check
  • The check number
  • The information identifying the drawer and the paying bank that is preprinted on the check in the MICR line, including the routing transit number, account number, check amount when encoded, serial number and process control field.
  • All endorsements on the back of the check

Endorsements: You agree to endorse the back of each check without any additional restrictive language except that you may restrictively endorse a check as "For Deposit Only" or "For Deposit to Account #xxxxxxxxxx".

Receipt of Check Images: We reserve the right to reject any check image transmitted through Mobile RDC at our discretion without liability to you. We are not responsible for check images we do not receive or for images that are dropped or become corrupted or illegible during transmission. An image of a check shall be deemed received when you receive confirmation from us that we have received the check image. Receipt of confirmation does not mean that the transmission was error-free or complete, or that your account will not be charged back for the amount of the deposit if the check image is dishonored or returned unpaid for any reason by the financial institution on which it is drawn.

Disposal of Transmitted Checks: Upon confirmation of crediting of your deposit to your account you agree to:

  • Mark the check as "Electronically Presented" or "Void"
  • Properly store the check to ensure that it is not presented again for payment by you or any other person.
  • Retain all checks deposited through Mobile RDC for a period of 30 business days following which you will dispose of the check in manner that will prevent its being presented again, such as by shredding the check
  • Promptly provide us at our request with a copy of any retained check to aid in the clearing and collection process, to resolve claims by third parties, or for our audit purposes

Deposit Limits: We reserve the right to limit the frequency and dollar amount of deposits you make using Mobile RDC and will establish deposit limits for you when you enroll in Mobile RDC. If you exceed these deposit limits we may, in our sole discretion, accept or refuse to accept the deposit. If we do accept a deposit that exceeds your deposit limits we will have no obligation to do so in the future. We reserve the right to raise or lower your deposit limits at any time and any such changes shall be effective immediately upon our notification to you.

Date of Deposit/Availability of Funds: Transmitting check images using Mobile RDC does not constitute receipt of the deposit by us. Check images received on a business day prior to 4:00 p.m., Pacific Time are processed on the day of receipt which will be considered the day of deposit. Any images received by us after that time or on weekends or holidays when we are not open for business will be processed on the next business day which will be considered the day of deposit. The funds you deposit using Mobile RDC will be available in accordance with our Funds Availability Policy.

Your Warranties, Indemnification and Responsibility: You make the following representations and warranties:

  • You shall use Mobile RDC only for your own personal use and shall not deposit checks for the benefit of any other person or entity
  • You shall not alter any original check before you image it and shall review the check image prior to transmission to us to ensure that it is legible as to all of the required information on the front and back of the check. You will not transmit any image that is not legible and suitable for processing.
  • You will handle original checks after submission using Mobile RDC as set forth in these Terms and Conditions, including the obligations to retains and then destroy the checks
  • You will not transmit duplicate checks or re-deposit or re-present the original check after your have transmitted it for deposit using Mobile RDC
  • You will not deposit any check using Mobile RDC that has already been deposited into your account with us or deposited, cashed or otherwise negotiated with any other person or financial institution
  • You agree not to deposit any checks using Mobile RDC if you believe or suspect that the check is fraudulent, altered, forged, or unauthorized.

You agree to indemnify and hold us harmless from and against all liability, damage and loss arising from any claims, suits, or demands brought by third parties with respect to any check you deposit using Mobile RDC or from your breach of these Terms and Conditions.

Fees: Any fees you may incur for using Mobile RDC are set forth in the Fee Schedule.

Amendments: We may, without notice to you, add to, delete or change these Terms of Use by posting the amended Terms of Use on the Online Banking Website and your continued use of the Mobile RDC service constitutes your agreement to all such changes.

Termination: We reserve the right to suspend, discontinue or terminate these Terms of Use and/or the Mobile RDC service at any time, immediately and without prior notice or obligation to you, and as determined in our sole discretion (i) if you violate any part of these Terms of Use or (ii) for any other reason or no reason. We may notify you of any such suspension, discontinuance or termination, and upon your receipt of such notice, you will immediately discontinue use of the Mobile RDC services. You agree that we shall not be liable to you for any suspension, discontinuance or termination of these Terms of Use or the Mobile RDC service.

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Unless you are exempt under federal law, we are required to withhold a portion of your taxable interest and certain other payments (this is referred to as backup withholding) if:

  1. you fail to supply us, under penalties of perjury, with your correct taxpayer identification number (TIN);
  2. you fail to provide us with the required certified information;
  3. the IRS instructs us to withhold; or
  4. the IRS notifies you that you are subject to backup withholding. You must provide your TIN whether or not you are required to file a tax return. You also must certify that you are not subject to backup withholding. We may report interest and other payments to you to the Internal Revenue Service (IRS), along with your TIN.

We may refuse to open, and we may close, any account for which you do not provide a certified TIN, even if you are exempt from backup withholding and information reporting. To avoid possible erroneous backup withholding, an exempt payee should furnish its TIN and indicate on our records that it is exempt.

You may be subject to civil and criminal penalties if you fail to provide us with a correct TIN or falsify information with respect to withholding. For additional information on interest reporting and withholding, contact your tax advisor or the IRS.

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Resolution of Disputes: Arbitration Agreement

Maintaining good relationships with our customers is very important to us. We ask that you contact us immediately if you have a problem with one of your accounts or a service we provide. Often a telephone call to us resolves the matter quickly and amicably. However, if you and we are unable to resolve our differences informally, you agree by opening or maintaining a deposit account with us or by accepting a service from us governed by this Agreement, that if any dispute between you and us arises regardless of when it occurs, it will be settled, at the option of you or us, using the following procedures:


Small Claims

If the amount in dispute is within the jurisdiction of the small claims court it shall be resolved through an action in the small claims court and shall not be subject to arbitration.

The Bank and you elect to be bound by the Federal Arbitration Act. Except as set forth below, the parties agree to arbitrate any dispute or controversy concerning your deposit account or related services, including, without limitation, wire transfers. Either party may request that the matter be submitted to arbitration.

Commencing an Arbitration

The party electing arbitration must notify the other of such election. If you elect arbitration you must notify us in writing at 888 E. Walnut Street, LK03-02, Pasadena, CA 91101. If we elect arbitration we will notify you in writing at your last known address on file. The party electing arbitration is also responsible for initiating the arbitration process by contacting the designated arbitration administrator and following the procedural rules of the arbitration administrator.

Disputes: A dispute is any unresolved disagreement between you and us that relates in any way to accounts or services governed by this Agreement, or to your use of any of our banking branches, our ATMs, or any other method you may use to access our products and services. It includes any claim that arises out of or is related to these accounts, services or agreements.

Binding Arbitration: Binding arbitration is a means of having an independent third party resolve a dispute without using the court system, judges or juries. Either you or we can request binding arbitration. If either you or we fail to submit to binding arbitration following a lawful demand, the party who fails to submit bears all costs and expenses incurred by the party compelling arbitration. Each arbitration, including the selection of the arbitrators, is administered by the American Arbitration Association (AAA), according to the commercial arbitration rules of the AAA. Each arbitration is governed by the provision of the Federal Arbitration Act (Title 9 of the United States Code), and, to the extent any provision of the Act is inapplicable, unenforceable or invalid, the laws of the state that govern the relationship between you and us or in which the dispute arose. Small claims court actions are not eligible for arbitration.

Powers and Qualifications of Arbitrators

The arbitrator will give effect to statutes of limitation, waiver and estoppel and other affirmative defenses in determining any claim. The arbitration award may include equitable and declaratory relief. All arbitrators will be required to be practicing attorneys or retired judges licensed to practice law in the State of California and will be required to be experienced and knowledgeable in the substantive laws applicable to the subject matter of the dispute.

No Class Action or Joinder of Parties

No class action, private attorney general or other representative claims may be pursued in arbitration, nor may such action be pursued in court if either you or we elect arbitration. Unless mutually agreed to by you and us, claims of two or more persons may not be joined, consolidated or otherwise brought together in the same arbitration (unless those persons are joint account owners or beneficiaries on your account and/or related parties, or parties to a single transaction or related transactions).

Right of Set-Off Preserved: Our agreement to arbitrate and the exercise of any of the rights you and we have under this Agreement, does not stop you or us from exercising any lawful rights either of us has to use other remedies available to preserve, foreclose or obtain possession of real or personal property; exercise self-help remedies, including set-off and repossession rights, the right to restrain funds in an account, to interplead funds; to comply with legal process; or to obtain provisional remedies such as injunctive relief, attachment or garnishment by a court of appropriate jurisdiction. If our dispute involves third parties who are not subject to this dispute resolution agreement, then dispute resolution shall not be stayed pending resolution of the dispute with the third party or parties absent a modification of this agreement between us.

In California: If an action or proceeding is initiated before any court in California and neither you nor we request that the dispute be submitted to arbitration, then, upon motion by either you or us, the dispute shall be heard by an active attorney or a retired judge selected by the American Arbitration Association (AAA) who is then appointed by the court in which the action commenced, according to the reference provision of the California Code of Civil Procedure, Section 638 et seq. This reference process is not subject to a trial by jury; the trial is conducted before the active attorney or retired judge under California law.

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Savings and Certificate of Deposit Account Disclosures

Average Balance

Where applicable, the average balance in an account may be calculated by taking the ending balance for each day of the statement cycle period and adding them up. Then divide the total of the ending daily balances by the number of days in the period.


Savings and CD accounts are statement accounts. Statements reflect all deposits, withdrawals, fees charged, debits and credits, interest paid to the account, etc. Savings and CD account statements are normally generated quarterly. Monthly statements are available upon request or anytime an electronic funds transaction (EFT) occurs during the month.

Additional Rate Information

Interest rates and annual percentage yields (APY) on our interest-bearing accounts are established at our discretion based on market conditions and may change without notice.

Certificate of Deposit Accounts: Interest will not be earned if the account balance falls below $1,000 and such account will be subject to account closure with the appropriate early withdrawal penalty.

Interest Compounding, Calculating and Crediting

We compound interest daily on interest-bearing accounts at the rate in effect for your end-of-day balance. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the balance in the account at the end of each day. We credit interest monthly on a 365/365 basis (366/366 in leap years). Interest begins to accrue on both cash and noncash deposits on the business day you make a deposit. Our business days are Monday through Friday excluding Federal Holidays.

Certificate Deposits Accounts

Interest on your CD account may be credited to your certificate of deposit or savings account; reinvested into your CD account (at renewal any available interest will become part of the principal balance); automatically transferred to another financial institution through EFT; or paid to you by check. Interest begins to accrue on the business day you make a deposit. Payment of interest on a CD account can be deferred until the following year on accounts with terms of one year or less. Annual Percentage Yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.

Savings Accounts Are Limited Transaction Accounts

If you exceed the transaction limits noted under "Transaction Limitations" for savings accounts, we may at our option close your account or remove access to the account via preauthorized withdrawal, automatic transfer, POS transaction, etc. We count a transaction on the date we process it. This date may be different from the date on which you wrote the item or the transaction was initiated. Thus, a transaction you make in one statement period may be counted in a later statement period. You may make unlimited deposits. Limited Transaction Accounts may be charged an excess activity fee each time you exceed the transaction limits noted. See the "Fee Schedule" for details.

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Additional CD Account Disclosures

Early Withdrawal Penalties

CD customers agree to keep their funds on deposit for a fixed period of time. Unless otherwise provided, partial withdrawals are not permitted. If we permit an early withdrawal of principal, we may impose an early withdrawal penalty on the amount withdrawn as follows:

CD or IRA CD Term
Early Withdrawal Penalty
CD or IRA CD Term
Early Withdrawal Penalty
1 year or less
3 months interest
More than 1 year to 3 years
6 months interest
More than 3 years
12 months interest

All withdrawals, including withdrawals of available interest and any early withdrawal penalties, may reduce earnings. Any withdrawals which reduce the account balance below the minimum balance requirement will require that the account be closed and shall be subject to the appropriate early withdrawal penalty.

Early Withdrawals Without Penalties:

Withdrawals of available interest are permitted at any time during the term of the CD. Withdrawal of principal on any CD may be made without penalty on the death or determination of legal incompetence of any owner of the account. To authorize such withdrawal on the grounds of death or legal incompetence, the Bank may, at its option, require a certified copy of the death certificate or a court or administrative order or decree establishing the incompetence. Withdrawals without early withdrawal penalties are also permitted at CD maturity during the CD grace period. All withdrawals, including withdrawals of credited interest, may reduce earnings.

Grace Period

For CDs that automatically renew, there is a ten-day grace period, which begins on the maturity date, when funds can be transferred to another account or withdrawn without penalty.


Unless we notify you otherwise, your CD will automatically renew for the minimum renewal term for your type of account at the rate then in effect for accounts of the same type and amount. CD accounts that do not renew automatically will stop earning interest at maturity. Unless we specifically state otherwise, any bonus we are offering to new accounts will generally not apply to automatically renewing CD accounts.

Additional Deposits

Additional deposits may be made anytime during the CD grace period. Additional deposits during the CD term are allowed only on Retirement CDs with terms of 2 years or less. Additional deposits become part of the principal balance of the account.

Maturity Date and End of Term

The last day of the CD term is the day prior to the Maturity Date. The Maturity Date is the first day of the renewal term.

Individual Retirement Accounts (IRA)

Traditional Individual Retirement Accounts (IRAs), Roth IRAs and Rollover IRAs are available on most CD accounts and savings products. Contributions and distributions may have certain tax consequences under the Internal Revenue Code sections governing Individual Retirement Accounts and Qualified Retirement Plans. Quarterly statements are generated. Additional Deposits: Additional deposits may be made as contributions to CDs established as an Individual Retirement Account with a term of 2 years or less after it is opened or renewed. All additional deposits become part of the principal balance of the account and are included in the account balance for purposes of any early withdrawal penalty assessment. Early Withdrawal Without Penalties: Notwithstanding the early withdrawal penalty provision set forth above, if you exercise your right under IRS rules, if applicable, to revoke your retirement plan within seven (7) days of establishment, you will forfeit interest earned but will not incur an early withdrawal penalty (if a CD). The Bank will waive the early withdrawal penalty on CD retirement accounts for customers who are age 59½ or older on distributions which are reportable to the Internal Revenue Service on Form 1099R and are paid directly to the customer.

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Consumer Product Descriptions

High Yield Savings

Product Description: A variable-rate savings account
Minimum to Open: $100
Monthly Service Fee: No account opening or maintenance fees
Earns Interest: Yes

  • Earned on the entire daily balance
  • Compounded daily and paid monthly
  • Variable rate (the interest and APY may change at the Bank's discretion, at any time)

Balance Tiers:

The bank reserves the right: (1) to establish one or more balance tiers on certain interest-bearing accounts for the purpose of calculating interest on the account; and (2) to set interest rates and APYs for various tiers in any amount, including in the same amount as any other tier. For this account, interest will be paid based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. The balance tiers for this account are as follows:

  • $24,999.99 or less
  • $25,000.00 or more,

Effect of Closing an Account: If you close your account before interest is credited, any accrued interest will be paid on the date the account is closed.

Transaction Limitations: Savings accounts are governed by federal regulations that limit the number of preauthorized, automatic, telephone or online banking transactions to another account or to third parties to six (6) per any monthly statement period. There is no limit on the number of withdrawals made by mail. We monitor these accounts and notify you when the limits have been exceeded.

Term Certificate of Deposit

Product Description: Fixed-rate interest-earning accounts. Offered in a variety of terms and rates to meet your savings needs.
Minimum to Open: $1,000
Monthly Service Fee: No
Earns Interest: Yes

  • Fixed-Rate Accounts
  • Compounded daily and paid monthly
  • No interest earned if balance falls below $1,000
  • The interest rate and APY remain constant for the term of the account and are based on the term and corresponding balance tier at account opening or at the time of renewal.

Available as in IRA: Yes (IRA not available for 6 month Term CD)

Effect of Closing an Account: If you close your account before interest is credited, any accrued interest will be paid on the date the account is closed. An early withdrawal penalty may apply if the CD is withdrawn before maturity.

Jumbo Certificate of Deposit

Product Description: Fixed-rate interest-earning accounts. Offered in a variety of terms and rates to meet your savings needs.
Minimum to Open: $100,000
Monthly Service Fee: No
Earns Interest: Yes

  • Fixed-Rate Accounts
  • Compounded daily and paid monthly. No interest earned if balance falls below $1,000
  • The interest rate and APY remain constant for the term of the account and are based on the term and corresponding balance tier at account opening or at the time of renewal.

Available as in IRA: Yes

Effect of Closing an Account: If you close your account before interest is credited, any accrued interest will be paid on the date the account is closed. An early withdrawal penalty may apply if the CD is withdrawn before maturity.

RampUp™ / RampUp™ Plus Certificate of Deposit

Product Description: The RampUpPlus™ Option allows you to make one additional deposit of additional funds to your account one time during each term of the CD.

We will honor your request to change the rate on this account one time during the initial term and one time during each subsequent term after renewal. The new interest rate will be the interest rate we are then offering on any other RampUp™ or RampUp™ Plus time deposit of equal term to this account but in no event will we increase the rate on this account to an annual percentage yield (APY) greater than twice the APY disclosed herein less 0.05%. This exchange will be at no cost to you. If you make an exchange, the maturity date of this account will remain the same as originally scheduled.

The RampUp™ Plus Option allows you to make one additional deposit of additional funds to your account one time during each term of the CD.

Minimum to Open: For accounts with original maturity of less than four years, you must deposit $25,000.00 to open this account. For accounts with original maturity of four years or more, you must deposit $50,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed: For accounts with original maturity of less than four years, you must maintain a minimum balance of $25,000.00 in the account each day to obtain the disclosed annual percentage yield. For accounts with original maturity of four years or more, you must maintain a minimum balance of $50,000.00 in the account each day to obtain the disclosed annual percentage yield.

Monthly Service Fee: No

Earns Interest: Yes

  • Fixed-Rate Accounts
  • Compounded daily and paid monthly, quarterly or at maturity
  • No interest earned if balance falls below $1,000
  • The interest rate and APY remain constant for the term of the account and are based on the term and corresponding balance tier at account opening or at the time of renewal.

Available as in IRA: Yes

Effect of Closing an Account: If you close your account before interest is credited, any accrued interest will be paid on the date the account is closed. An early withdrawal penalty may apply if the CD is withdrawn before maturity.

Transaction Limitations: The maximum deposit to RampUp™ accounts with an original maturity of more than two years is $250,000.00.Deposits may be made into your RampUp™Plus account no more than one time during each term. We reserve the right to limit the additional deposit to your RampUp™Plus account to $250,000.00.

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Minimum balances
Available as IRA
Available as Custodial
Minimum balances
Available as IRA
Available as Custodial