This UNIFIMONEY Checking Account Addendum (this "Addendum") is an Addendum to the Unifimoney Customer Agreement (the "Agreement") and sets forth the terms and conditions with respect to your Checking Account and the transactions you conduct through your Checking Account. This Addendum amends and supplements the UNIFIMONEY Customer Agreement and all Addenda incorporated therein (the “Customer Agreement”). The Consent to Electronic Signatures and Records provisions of the Customer Agreement apply to this Addendum. That means that this Addendum will become a part of your Customer Agreement with us when you accept them by clicking on “Agree” at the time you enroll in the [Unifimoney Cash Program], or when you use your Checking Account. You must keep a current mobile telephone number and an active email address on file within the UMIFIMONEY Dashboard and with UMB.
In this Addendum, “we,” “us” and “UMB” mean UMB Bank, n.a., and “you” means any person who owns a Checking Account at UMB. Other capitalized terms used but not defined in this Addendum have the meanings given in the Customer Agreement. In the event of any inconsistency between this Addendum and the Customer Agreement, this Addendum will control with respect to your Checking Account and the transactions you conduct through your Checking Account. Please read this Addendum carefully.
1. Definitions. Below are definitions of some important terms and words used in this Addendum:
"Available Program Balance" means the aggregate principal balance representing your funds held in your Checking Account and your interests in the Program Accounts held in your Custodial Account, less holds imposed on funds deposited in your Checking Account.
"Claims" means all claims, controversies, disputes, demands, actions, suits, and other litigation, arbitration, or other dispute resolution or administrative proceedings (in each case, whether groundless or otherwise, whether arising before or after you entered into the Agreement, whether initiated by you, by UMB or by a third party and whether initiated before or after your Checking Account is closed or the Agreement is terminated).
"Costs" means all losses, liabilities, damages, judgments, awards, fines or penalties (including those imposed by any Federal Reserve Bank, clearing house or funds transfer system), fees, charges and other expenses (including reasonable attorneys' fees and the costs and expenses of collection, investigation, litigation, arbitration or other dispute resolution or administrative proceedings).
"Item" means an order, instruction or authorization to withdraw or pay funds from your Checking Account. Examples include a check, draft or electronic transaction (including an Automated Clearing House or "ACH" transaction, an ATM withdrawal and a Point-of-Sale or "POS" debit card transaction). This term also includes a purported order, instruction or authorization to withdraw or pay funds from an account, unless otherwise prohibited by applicable law.
"Overdraft" means any negative Available Program Balance resulting from the posting of any Item or other debit to your Checking Account.
"Withdrawal" means any customer-initiated debit from an account, including a transfer of funds. Examples include a check, an ACH transaction, an ATM withdrawal or a purchase using a Card.
2. Deposit Rules.
(a) Deposits and Deposit Slips. You may make deposits by mail or by any other method UMB makes available. You are encouraged to use your personalized deposit slips in order to help UMB credit deposits to your Checking Account as soon as possible and to minimize errors. UMB is not liable to you for any errors resulting from your use of non-personalized deposit slips.
(b) Risk of Loss and Reconstruction. UMB is not responsible for deposits made by mail or other outside depository until it actually records the receipt of those deposits in its books and records. You are responsible for reconstruction and proof of loss of any deposits that are lost or stolen in transit and before UMB has received and accepted those deposits. In addition, you must fully cooperate with and assist UMB in reconstructing any deposits that are lost or stolen after UMB has received and accepted those deposits.
(c) Endorsements. You represent to UMB that you are entitled to enforce and are entitled to payment for all Items you deposit to your Checking Account. UMB may endorse or collect Items deposited to your Checking Account without your endorsement but UMB may, at its option, require your personal endorsement prior to accepting an Item for deposit. When you endorse Items that you ask UMB to deposit, you must endorse them in the area that extends one and one-half inches from the trailing edge of the back of the Item. You must also confine information that you place or have preprinted on the back of your Items to the same area. The trailing edge is the left side of the Item when you look at it from the front. If you endorse an Item outside of that area, mark or otherwise obscure the other area or a prior endorsement or make an endorsement that is illegible or incomplete, UMB may, but is not required to, refuse the Item. If UMB accepts a nonconforming endorsement, you must reimburse UMB for all Claims and Costs relating in any way to such endorsements, marks or obscurations.
(d) Verification of Deposits; Correction of Errors. When UMB deposits or credits your Checking Account for a deposit or other transaction, the amount of the debit or credit is subject to later verification and correction, even if UMB issued you a receipt. UMB may reverse or otherwise adjust the transaction (credit or debit) that it believes it erroneously made to your Checking Account at any time without prior notice to you. There is no time limit within which UMB must make such a reversal or other adjustment. If funds to which you are not entitled are deposited to your Checking Account by mistake or otherwise, UMB may deduct those funds from your Checking Account at any time, without prior notice to you, even if this causes your Checking Account to become overdrawn.
(e) Limits on Deposits; Foreign Items. UMB reserves the right to limit, refuse or return any deposit. You will not make deposits of, or denominated in, foreign currency or drawn on a foreign bank without UMB's express permission. If UMB permits you to deposit foreign currency or Items that are denominated in foreign currency or drawn on a foreign bank, UMB may not provisionally credit your Checking Account for any non-cash Items and the final credit to your Checking Account will be based on the exchange rate in effect at the time UMB receives final payment for that Item in United States currency. That exchange rate may be less favorable to you than other exchange rates available to UMB from other sources. UMB may also elect to accept Items that are denominated in foreign currency or drawn on a foreign bank on a collection basis. This means that UMB will not credit the Item to your Checking Account until UMB has received final payment for it.
(f) Substitute Checks. A substitute check is a copy of a check that is the legal equivalent of the original check. When you cash or deposit a substitute check, you give UMB the same warranties and indemnities that UMB, as a reconverting bank, would give to any other person under applicable law with respect to that substitute check and you must reimburse UMB for all Claims and Costs relating in any way to that substitute check. If you provide UMB with an electronic representation of a substitute check for deposit into your Checking Account instead of an original check, you must reimburse UMB for all Claims and Costs relating in any way to any substitute check resulting from that electronic representation not meeting applicable substitute check standards or causing duplicate payments.
(g) Preauthorized Drafts or other Remotely Created Checks. A "preauthorized draft" or "remotely created check" is a check or draft created by the payee and not signed by the account holder. You may not knowingly deposit a preauthorized draft or remotely created check to your Checking Account without UMB's express permission.
If you deposit a "preauthorized draft" or "remotely created check" to your Checking Account, you represent and warrant to UMB that the person on whose account the remotely created check is drawn authorized its issuance in the amount and to the payee stated on it. If you created the remotely created check (a) you represent and warrant to UMB that you have express, verifiable proof of that authorization, (b) you must maintain that proof for at least two (2) years from the date of that authorization and (c) you must give UMB that proof upon request. If the remotely created check is returned, UMB may debit your Checking Account for the amount of the remotely created check, regardless of when it is returned. You must reimburse UMB for all Claims or Costs relating in any way to a preauthorized draft or remotely created check you deposit to your Checking Account. If UMB receives a claim related to any such Item at any time within a year after the Item was paid, UMB may charge the Item back to your Checking Account.
(h) Cutoff Hour. If UMB receives an Item on a day that is not a Business Day or after its cutoff hour on a Business Day, the Item is deemed to have been received on UMB's next Business Day. UMB's cutoff hour is generally 6:00 p.m. Central Time. UMB's Business Days and cutoff hour are subject to change from time to time in its discretion. Except to the extent additional notice is required by applicable law, any change in UMB's Business Days or cutoff hour becomes effective on the day the new business days or cutoff hour are posted.
(i) Notice of Stop Payment, Legal Process or Setoff. An Item received by UMB before the close of a Business Day may be subject to any stop payment order received, legal process served upon or setoff exercised by UMB prior to close of business on the next Business Day. Any knowledge, notice, stop payment order, legal process or setoff comes too late to affect UMB's right or duty to pay an Item if it is received after that time.
3. Collection Rules.
(a) Agency Status. UMB acts only as your agent in collecting any Items deposited to your Checking Account. Even though UMB may credit your Checking Account immediately when you make a deposit, UMB receives any Item (other than United States currency) for deposit or collection as your collection agent, and UMB assumes no responsibility beyond the exercise of good faith and due care and may handle the collection of any such Item in accordance with its usual practices. UMB is not required to comply with any special instructions for handling an Item unless the instructions are in a separate, signed agreement that is accepted by UMB along with the Item in question. UMB is not liable for default or negligence of its correspondents or for loss in transit, and each correspondent is not liable except for its own negligence. UMB may handle Items and their proceeds in accordance with applicable Federal Reserve Bank regulations, clearing house association or funds transfer system rules and contractual arrangements it has with other financial institutions.
(b) Truncation of Items. As your agent for collecting Items you deposit with UMB, UMB may truncate paper Items (i.e., convert them into electronic information or images) and present and return them electronically. UMB may also truncate paper Items that are dishonored by the drawer's financing institution when it re-presents them. UMB may reconvert a truncated Item into a paper substitute check that is the legal equivalent of the original.
(c) Provisional Credit, Final Payment and Charge Back. Except as otherwise provided in the Agreement, UMB provisionally credits your Checking Account for all non-cash Items deposited to your Checking Account (including those Items drawn on another account with UMB), subject to final payment and UMB's receipt of proceeds. If UMB does not receive final payment for any Item you have deposited or cashed or any such Item is charged back to UMB for any reason, UMB may debit your Checking Account, without prior notice and at any time, for the amount of the returned Item, UMB's returned Item charge and all costs relating to that Item. UMB may do so without regard to whether or not the Item is returned to UMB, whether or not the Item was deposited or returned by electronic or other means, whether or not the financial institution on which the Item was drawn returned the Item before the deadline imposed by applicable law or its own policies and procedures and whether or not doing so results in an Overdraft. Furthermore, if an Item you deposit or cash is finally paid by the financial institution on which it is drawn and that financial institution later returns the Item to UMB claiming that it was altered, forged, unauthorized or should not have been paid for some other reason, UMB may debit your Checking Account for the amount of the Item (along with UMB's returned Item charge and all costs relating to that Item), even if doing so results in an Overdraft. UMB is not obligated to question the truth of the facts that are asserted, to assess the timeliness of the claim, to take any action to recover payment of a returned Item or to assert any defense. UMB does not need to notify you in advance of its actions related to the claim. UMB may pursue collection of a previously dishonored Item and, in doing so, may permit the financial institution on which that Item is drawn to hold it beyond the deadline imposed by applicable law or its own policies and procedures.
4. Your Available Program Balance.
(a) Calculating your Available Program Balance. Your Available Program Balance is UMB's most current record of the amount of money available for your use or withdrawal. UMB uses the Available Program Balance to authorize and pay your transactions. UMB calculates your Available Program Balance as follows:
Your Available Program Balance does not reflect every transaction you have initiated or previously authorized. For example, your Available Program Balance will not include any checks or other Items that you have issued, initiated or authorized that have not been presented to UMB for payment. It is possible for you to overdraw your Checking Account even though your Available Program Balance shows there are sufficient funds in your Checking Account to cover an Item you want to issue, initiate or authorize.
(b) Authorization Holds. When you make a purchase with your Card, UMB may receive an authorization request from the merchant or other payee. When UMB receives such a request, it has the right to place a temporary hold (an "authorization hold") against some or all of your Available Program Balance, which will have the effect of decreasing your Available Program Balance. If UMB receives an authorization request from certain merchants, including from a gas station, restaurant, hotel or car rental agency, the amount of the authorization hold may differ from the final amount of your purchase.
UMB may maintain the authorization hold against your Checking Account for up to three (3) Business Days, or such other period of time as permitted by applicable payment network rules, until UMB receives the purchase transaction that matches the authorization hold. If UMB has not received the matching purchase transaction within such time, it will release the authorization hold (which will increase your Available Program Balance) and post the transaction to your Checking Account at a later time when the merchant submits the transaction to UMB for payment (which will decrease your Available Program Balance).
(c) Monitoring Your Available Program Balance. You can monitor your Available Program Balance through the UNIFIMONEY Dashboard. However, since your Available Program Balance will not include any outstanding Items that you have issued, initiated or authorized that have not yet been presented to UMB for payment or authorization or processed by UMB, you should always adjust the Available Program Balance provided through the UNIFIMONEY Dashboard to reflect all such outstanding Items.
5. Account Processing and Posting of Items
(a) Generally. UMB processes transactions to your Checking Account on a batch basis on each Business Day, and such processing may not occur in real time. Once UMB processes your transaction, the results are recorded or "posted" to your Checking Account. UMB will process and post deposits and other credits to your Checking Account before it processes and posts Items and other debits it receives for payment from your Checking Account.
UMB has the right to process, post and pay Items and other debits that it receives for payment from your Checking Account in any order that it determines in its discretion, regardless of the order in which the Items occur or UMB receives them. UMB has the right to treat credits, debits and holds to your Checking Account that it receives during the Business Day as if it received them at the end of the Business Day. It has the right to give preference to Items and other debits payable to UMB (such as service fees and charges). If UMB temporarily processes and posts an Item during the Business Day, it has the right to change its final posting order at the end of the
Business Day. Your Account Statement will not necessarily report credits and debits in the order in which they were posted to your Checking Account.
The manner in which UMB receives Items and when UMB authorizes those Items for payment can affect the order in which it processes and posts the Items to your Checking Account. For example, UMB authorizes some Items, such as POS purchases and other Card transactions, when you initiate them, but UMB may not receive those Items from the merchant for several days. UMB receives and authorizes certain other Items for payment at the time you initiate them, including ATM Withdrawals and online transfers of funds. Other Items, such as checks and most ACH payments, UMB authorizes for payment only after it receives them.
(b) Order of Posting Transactions. In connection with UMB's processing and posting of Items, UMB has the right to establish (1) categories for processing and posting different types of Items, (2) a posting order among categories of Items and (3) different posting order for Items within each category.
If UMB receives more than one Item for payment from your Checking Account on a Business Day and it determines that your Available Program Balance is sufficient to pay some, but not all, of those Items, the order in which UMB posts those Items could affect the number of Items paid. For example, if UMB posts Items within a category in the order of their decreasing dollar amounts (known as "high-to-low"), your Available Program Balance will be reduced by greater dollar amount Items first. High-to-low posting increases the risk that lesser dollar amount Items will be returned because your Available Program Balance is insufficient or create Overdrafts. However, high-to-low posting also reduces the risk that important greater dollar Items, such as your mortgage, insurance premium or car payment will be returned unpaid because your Available Program Balance is insufficient.
UMB processes and posts Items to your Checking Account at the end of each Business Day, first by category order and then, within each category as stated in the table below.
6. Insufficient Funds and Overdrafts.
(a) Generally. It is your responsibility to know if your Available Program Balance is sufficient before you write a check, make a cash Withdrawal at an ATM, make a purchase with your Card, or issue, initiate or authorize any other Item for payment from your Checking Account. To the extent there is an Overdraft, UMB may exercise its right of setoff against any other accounts you or any Joint Account Holder maintains with UMB, and UMB may apply any later deposits (including deposits of Social Security or other governmental benefits) made to any account that you or any Joint Account Holder maintains with UMB to pay for the Overdraft.
(b) UMB's Normal Insufficient Funds and Overdraft Practices. UMB generally will decline to pay an Item and return it unpaid if paying the Item would create an Overdraft. UMB is never obligated to pay any Item that would create an Overdraft. The fact that UMB may honor withdrawal requests that create an Overdraft does not obligate UMB to do so unless required by law. If UMB chooses to honor an Item that creates an Overdraft, it does so at its discretion and will not be obligated to do so thereafter. UMB is not required to notify you in advance if it changes how it handles payment of any Item that would create an Overdraft.
7. Withdrawal Rules.
(a) Methods and Limits on Withdrawals. You may make Withdrawals from your Checking Account in any manner UMB permits for your Checking Account. UMB will post Withdrawals made by mail to your Checking Account as of the day it processes them. UMB reserves the right to limit the amount of funds that may be withdrawn from your Checking Account in cash for various reasons (including the amount of currency that is available at a particular ATM terminal). UMB may refuse to accept or impose a fee for processing (1) any Item other than standard checks UMB provided or approved in advance or (2) a Withdrawal or transfer request that (i) is attempted by any manner not specifically authorized for your Checking Account, (ii) is greater in frequency or number than is specifically permitted for your Checking Account or (iii) is for an amount less than any minimum Withdrawal or transfer denomination required for your Checking Account. UMB also may refuse to allow or impose a fee for processing a Withdrawal if there is a dispute about your Checking Account (unless a court has ordered UMB to allow the Withdrawal), your Checking Account is garnished or attached, your Checking Account has been pledged as collateral for a debt, the Available Program Balance cannot be verified, any required documentation has not been presented or you fail to repay an obligation to UMB on time. Withdrawals and transfers from your Checking Account may also be restricted as provided in the Agreement or by applicable law. You are responsible for the condition of an Item when you issue it. If any Item is returned or payment is delayed as a result of any writing or marking that you or a prior endorser placed on the front or back of the Item, you must reimburse UMB for all Claims and Costs relating in any way to that return or delay.
(b) Checks. You may order personalized checks from UMB at varying prices, depending on the style of check you choose. UMB will deduct the cost of your personalized checks from your Checking Account. You are responsible for verifying the accuracy of all information on your printed checks. UMB's liability (if any) for any printing errors on forms obtained through UMB is limited to the cost of replacement. UMB is not liable for errors or losses you may incur due to printing errors on forms not obtained through UMB or approved by UMB in advance. UMB may require you to use a check printer that meets technical standards for checks that are acceptable to UMB.
(c) Signatures. If you use a facsimile signature stamp or other signature device, that use is for your sole benefit and convenience. You are solely responsible for maintaining security of the facsimile signature stamp or other signature device and bear all risk of its unauthorized use, whether or not you are negligent. You are responsible for any Withdrawal from your Checking Account that bears or appears to UMB to bear a facsimile signature that resembles or purports to be the signature of a person authorized to withdraw funds. Neither any facsimile signature UMB has been authorized to honor, nor any facsimile signature that reasonably resembles any specimen you give UMB, may be considered a forgery or an unauthorized signature and any such facsimile signature will be effective as your signature or endorsement, whether or not you have been negligent. You must reimburse UMB for all Claims and Costs relating in any way to the unlawful use, unauthorized use or misuse by any person of any such facsimile signature or other signature device, whether or not you are negligent.
(d) Availability of Funds for Withdrawal. The availability of funds for withdrawal from a Checking Account is governed by UMB's funds availability policy. See "Expedited Funds Availability Act Disclosure" in the Customer Agreement.
(e) Automatic Processing; Legends. UMB has adopted automated collection and payment procedures so that it can process the greatest volume of Items at the lowest possible cost to all customers. These automated procedures are based on the use of high-speed automated processing equipment that relies primarily on information encoded onto each Item according to general banking standards. As a result, in paying or taking an Item for collection, UMB may disregard all information on the Item other than the information that is encoded onto the Item in accordance with those standards, whether or not that information is consistent with other information on the Item. Similarly, UMB may disregard restrictive language (such as "Void after 90 Days," "Paid in Full," "Two Signatures required," "Void Over $100" or similar statements) in paying or taking an Item for collection. You must reimburse UMB for all Claims and Costs relating in any way to an Item you issue or deposit that contains such language. UMB does not fail to exercise ordinary care in paying Items solely because its procedures do not provide for the sight examination of Items, or only Items below a threshold amount it determines from time to time.
(f) Electronic Presentment and Posting. You authorize UMB to charge your Checking Account on the day an Item is presented (or returned) to UMB directly or electronically for payment. You also authorize UMB to charge your Checking Account or place a hold on your Available Program Balance at an earlier time if UMB receives notice that an Item or transaction has been deposited for collection in another financial institution or is being processed against your Checking Account by a merchant (e.g., at a POS terminal). In that regard, you should understand that some merchants may obtain authorizations in advance for POS transactions in an amount greater than the final transaction amount. This could affect whether the Available Program Balance is sufficient to cover other transactions. UMB is not responsible for damages or wrongful dishonor if any Item is not paid because of an insufficient Available Program Balance resulting from these procedures. UMB may charge your Checking Account for truncated or substitute Items or other electronic information or image replacement documents that are replacements for otherwise properly payable Items.
(g) Preauthorized Electronic Payments. You may authorize a third party to electronically debit payments in specific amounts from your Checking Account on a one-time or continuing periodic basis by making arrangements directly with the payee. Any preauthorized transfers will be subject to sufficient funds being available in your Checking Account. A preauthorized transfer will continue to be made from your Checking Account in the amount and frequency you established until you terminate the preauthorized transfer instructions with the payee.
(h) Authorizing Others to Create Checks or Drafts Drawn on your Account. If you voluntarily provide information about your Checking Account (such as your Checking Account number and UMB's transit routing number) to any third party seeking payment from you, and that party creates a "preauthorized draft" or "remotely created check" for collection through the check collection system, UMB may pay the resulting Item even if it does not contain your signature. You should exercise caution in allowing a third party to create a preauthorized draft or remotely created check for payment from your Checking Account.
You must notify UMB of a claim that a preauthorized draft or remotely created check created by a third party and charged to your Checking Account was not authorized by you, or that the amount of the Item was different than what you authorized, within sixty (60) calendar days of when the Item first appeared on your Account Statement. If you make a claim about the Item within this time period, UMB will forward the claim to the financial institution in which the Item was first deposited, and will provide you any refund that UMB receives. If UMB is unable to recover the amount from that financial institution (including because you did not make a claim within the required period), UMB will not refund the money to you, even if you claim the Item was unauthorized. UMB is not otherwise responsible for any loss you may incur as a result of such Item.
(i) Stale Dated Items. UMB is not required to pay any Item presented for payment against your Checking Account more than six (6) months after the date of the Item. However, UMB may pay those Items if it does so in good faith. In that regard, UMB acts in good faith in paying such an Item unless there is a stop payment order in effect for that Item in UMB's system.
(j) Postdated Items. UMB may pay an Item presented for payment against your Checking Account before the date reflected on the Item. If you don't want UMB to do so, you must give UMB reasonable advance written notice, in a form satisfactory to it, before the Item is presented to UMB for payment and follow the procedures for, and pay the service fees associated with, a stop payment order. UMB may also return a postdated Item to you before the date shown on the Item, without liability for wrongful dishonor, even if it is otherwise properly payable.
(k) Cashing Items for Non-Accountholders. UMB reserves the right to require reasonable identification from any person seeking to cash an Item drawn on UMB. Reasonable identification includes a fingerprint. UMB also reserves the right to refuse to cash any Items presented by non-accountholders. Because cashing an Item for a non-accountholder exposes UMB to additional fraud risks, UMB may (1) charge a fee for cashing an Item for a non-accountholder when the Item is drawn on your Checking Account, and (2) deduct the fee from the cash remitted to the non-accountholder. UMB will not be liable for wrongful dishonor for refusing to cash an Item if the payee refuses or fails to pay a fee or comply with UMB's identification procedures.
(l) Stopping Payment. If you wish to stop the payment of a check or an ACH drawn on your Checking Account, you may do so if UMB receives an acceptable verbal or written stop payment order before it has paid or become accountable for the check or debit. UMB will have a reasonable period of time to place the order in effect. A service fee applies if you request a stop payment order on an Item.
8. Stop payment authorizations
Stop payment authorizations for preauthorized payments will remain in effect until (a) you withdraw the stop payment order; or (2) your Checking Account is closed. All other stop payment authorizations, including stop payment authorizations for checks, will generally remain in effect for one hundred and eighty (180) days from the date UMB first receives your stop payment order (provided you deliver UMB written confirmation, if the initial stop payment request was verbal), unless withdrawn. However, you may stop payment on an ACH drawn on your Checking Account by a particular originator for an indefinite period of time. You must contact UMB and renew a stop payment order if you want to extend it beyond its expiration date.
If you give UMB verbal instructions, UMB may require you to mail or deliver a written confirmation of the stop payment order within fourteen (14) calendar days or the stop payment order will lapse. If such a written confirmation is required, it must be signed by you and include the following information: the names of all persons on the account, the account number, the name of the individual who signed the check or created the debit, the name of the party to whom the check or debit was made payable, the date of the check or debit, the amount of the check or debit, the check number and your name. UMB assumes no liability for failure to stop payment on a check or ACH transaction if any of this information is incorrect or incomplete. You must deliver such confirmation in the manner UMB specifies. UMB will accept a stop payment order from you or any Joint Account Holder, even if that individual did not sign the check or create the debit.
If UMB honors your stop payment order on a check or debit, you must reimburse UMB for all Claims and Costs relating in any way to that stop payment order. If a check or debit that is the subject of a stop payment order is nevertheless made through inadvertence, accident or oversight, then to the extent permitted by applicable law, UMB's liability is limited to the amount of actual loss sustained, up to the amount of the check or debit, and UMB is not liable with respect to other checks or debits drawn by you that are returned for insufficient funds because of such payment.
8. Wire Transfers of Funds and ACH Transactions.
The Agreement is subject to Article 4A of the Uniform Commercial Code as in effect in the state of Missouri. If you originate a funds transfer and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, UMB and every receiving or beneficiary financial institution may rely on the identifying number to make payment. UMB may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearinghouse association rules. These rules provide, among other things that payments made to you, or originated by you, are provisional, until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If UMB does not receive such payment, it is entitled to a refund from you in the amount credited to your Checking Account and the party originating such payment will not be considered to have paid the amount so credited. If UMB receives a credit to your Checking Account by wire or ACH, it is not required to give you any notice of the payment order or credit.
If you are entitled to compensation for UMB's delay or improper completion of an ACH or wire transfer of funds transaction, UMB's liability will be limited to the payment of interest for a period not exceeding the lesser of sixty (60) calendar days or the period between the date of the error and the date of the correction. The rate of interest on such compensation will be the Federal Funds rate in effect at the Federal Reserve Bank of Kansas City for that period.
10. Substitute Checks and Your Rights.
The information below, presented in question and answer format, contains helpful information that explains some of your rights under a federal law commonly referred to as Check 21.
(a) What is a substitute check? To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks, with a slightly reduced image of the front and back of the original check. The front of a substitute check states: “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment just like the original check.
Some or all of the checks that you receive back from UMB may be substitute checks. This notice describes rights you have when you receive substitute checks from UMB. The rights in this notice do not apply to original checks or to electronic debits to your Checking Account. However, you have rights under other applicable law with respect to those transactions.
(b) What are your rights regarding substitute checks? In certain cases, Federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your Checking Account (for example, if you think that UMB withdrew the wrong amount from your Checking Account or that UMB withdrew money from your Checking Account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your Checking Account and charges that were assessed as a result of the withdrawal (such as insufficient funds charges).
The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your Checking Account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other applicable law.
If you use this procedure, you may receive up to $2,500 of your refund (plus interest, if your Checking Account earns interest) within ten (10) business days after UMB receives your claim and the remainder of your refund (plus interest, if your Checking Account earns interest) no later than forty-five (45) calendar days after UMB receives your claim. UMB may reverse the refund (including any interest) if UMB later determines the substitute check was correctly posted to your Checking Account.
(c) How do you make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your Checking Account, please contact UMB at email@example.com, or telephone UMB toll-free at 888.909.0586 . You must contact UMB within forty (40) calendar days of the date that UMB mailed or otherwise delivered the substitute check or the Account Statement showing that the substitute check was posted to your Checking Account, whichever is later. UMB will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.
Your claim must include:
11. Check Imaging; Record Research and Inquiries.
(a) Check Imaging. UMB will convert all checks and other paper Items paid from your Checking Account to an image format. UMB will retain images of your checks for as long as legally required. UMB is not liable for destruction of the original Item so long as UMB makes available an image of your check or other Item available to you for the legally required period of time. You can obtain a copy of a check by submitting a request with your Checking Account number, the check number and the amount, but a service fee may apply.
(b) Record Research and Inquiries. At your request, UMB will provide you with historical or other information pertaining to your Checking Accounts if it is within UMB's possession. If available, UMB will provide the requested information within a reasonable period of time. UMB may also be required by a court or government agency to provide information about your Checking Account or about your banking relationship with UMB. UMB generally processes requests for information in the order in which it received those requests, but certain court-ordered documentation productions or requests for information by regulatory agencies may take priority. UMB may charge your Checking Account a service fee for any research it must conduct for you in order to provide information on your Checking Account. UMB may also charge a service fee for copies of documents. All inquiries related to record research should be directed to: firstname.lastname@example.org .
12. Fraud Detection and Deterrence; Duty to Report Account Problems; Legal Action.
(a) Your Role in Preventing Account Fraud. You have a very important role in protecting your Checking Account from fraud and discovering fraud or errors involving your Checking Account. You should carefully guard the security of your checkbook and check stock, and immediately notify UMB if any of your checks are missing. You must safeguard the Personal Identification Number ("PIN") you use with your Card, the Credentials you use with the UNIFIMONEY Dashboard, and any other code or device that you obtain from UMB to access your Checking Account or to perform account functions. You must notify UMB immediately if your Card, Credentials, PIN or other code is lost or stolen or if you suspect that its confidentiality has been compromised.
(b) Duty to Report Account Problems. Except as otherwise provided in the Agreement (including in the Electronic Fund Transfer Act Disclosures), UMB will not be liable for any Item that is altered or any signature that is forged unless you notify UMB within thirty (30) calendar days after you receive the Account Statement describing or including that altered or forged Item(s) (or images thereof). This time period is extended to sixty (60) calendar days from the date the Item was paid with respect to preauthorized drafts or remotely created checks paid from your Checking Account. UMB will not be liable for any subsequent Items paid, in good faith, containing an unauthorized signature or counterfeit by the same wrongdoer unless you notify UMB within ten (10) calendar days after you receive the first Account Statement describing or including the altered or forged Items (or images thereof). You must report any other account problem within thirty (30) calendar days after you receive the first Account Statement describing or including the relevant Items (or images thereof) or lose your right to assert the problem against UMB.
For purposes of this Addendum, an "account problem" has the broadest possible meaning and includes suspected fraud, missing deposits, unauthorized electronic transfers, missing, stolen or unauthorized Items, Items bearing an unauthorized signature, endorsement or alteration, illegible images, encoding errors made by you or UMB and counterfeit Items.
(c) Cooperation. If you report an alteration, forgery or other account problem to UMB, UMB may require you to confirm your report in writing. UMB may also require that you provide a statement, under penalty of perjury, about the facts and circumstances relating to your report and to provide any other information and proof as UMB may reasonably request. You must cooperate with UMB in the investigation and prosecution of your claim and any attempt to recover funds. You must also assist UMB in identifying and in seeking criminal and civil penalties against the person(s) responsible and, if UMB re-credits your Checking Account with respect to your claim, you must transfer your rights against such person(s) to UMB. You must file reports and complaints with appropriate law enforcement authorities. If you fail or refuse to do these things, UMB will consider your failure or refusal to be your ratification of the alteration, forgery or other account problem and your agreement that UMB can charge the full amount to your Checking Account. UMB may take a reasonable period of time to investigate the facts and circumstances surrounding any claimed loss.
(d) Legal Action. You must bring any legal action against UMB to recover an amount you allege was caused by an alteration, forgery or other account problem within one (1) year after the date you received the Account Statement containing the allegedly improper payment, or you will not be entitled to recover the payment from UMB.
13. Security Interest; UMB's Right of Setoff.
To secure your performance of the Agreement, you grant UMB a lien on and security interest in your Checking Account. By establishing and maintaining a Checking Account, you consent to UMB asserting its security interest should your consent be required under applicable law. In addition, you acknowledge that UMB may setoff against your Checking Account and any other accounts you own for any obligations you owe UMB at any time for any reason allowed by law. UMB will not be liable for the dishonor of any check when the dishonor occurs because UMB exercised its right of setoff. You will hold UMB harmless from any Claims or Costs arising as a result of UMB's exercise of its right of setoff. The rights described in this section are in addition to and apart from any other rights.
14. Adverse Claims or Disputes Involving Your Account.
An adverse claim to your Checking Account occurs when any person or entity makes a claim against your Checking Account (or the Available Program Balance), when UMB believes a conflict exists between or among your Checking Account owners or when UMB believes a dispute exists over who has account ownership or authority to withdraw funds from your Checking Account. If UMB receives an adverse claim, UMB may in its discretion and consistent with applicable law: (a) continue to rely on the account records establishing the identity of the Joint Account Holders for your Checking Account; (b) honor the claim against your Checking Account funds if UMB is satisfied the claim is valid; (c) freeze all or a part of the Available Program Balance until the dispute is resolved to UMB's satisfaction; (d) restrict your Checking Account and deny access to it by all parties; (e) close your Checking Account; or (f) pay the funds into an appropriate court. UMB may also charge your Checking Account for its costs in taking these actions.
UMB is not required to recognize an adverse claim to a Checking Account unless: (1) it is served with a restraining order, injunction or other order issued by a court of proper jurisdiction in an action in which the adverse claimant and the person(s) entitled to the account on UMB's records are parties; or (2) the party making the claim supplies an indemnity agreement satisfactory to UMB, in its sole discretion, to protect it from all liability or loss.
15. Payable on Death Direction; Powers of Attorney.
(a) Payable on Death Direction. A payable-on-death direction is a statutory procedure to transfer an owner's interest in an account upon the owner's death to his or her beneficiaries. A person identified as a beneficiary in a payable-on-death direction is not, by virtue of that direction, an owner of the account. UMB may accept and execute payable-on-death designations in accordance with applicable law. Contact email@example.com for further information concerning payable-on-death directions.
(b) Powers of Attorney. UMB may, but is not required to, recognize any power of attorney to act on an account that is satisfactory to UMB in its discretion. A person acting under a power of attorney is not, by virtue of that power, an owner of the account and has no right of survivorship in the account. UMB may: (a) accept any form it believes was executed by you and act on instructions it receives under that form without any liability to you; (b) require the attorney- in-fact to sign an affidavit regarding his or her right to act under the power; (c) continue to recognize the authority of the attorney-in-fact until it receives written notice of revocation or termination of the power of attorney and has had a reasonable time to act upon such notice; and (d) restrict the types or amounts of transactions it will permit any attorney-in-fact to conduct on a case-by-case basis. You must reimburse UMB for all Claims and Costs relating in any way to UMB accepting and acting on any power of attorney form that it believes you executed.
(a) Recording. You authorize UMB to monitor and record telephone conversations and other electronic communications that you have with UMB and with its representatives for reasonable business purposes, including security and quality assurance. UMB will not remind you that it may be monitoring or recording a call at the outset of the call unless required by law to do so.
(b) Contract Language. English is the controlling language of UMB's relationship with you. Items you write such as checks or Withdrawal slips must be written in English. For your convenience, UMB may translate some forms, disclosures and advertisements into another language. If there is a discrepancy between the English-language and foreign-language versions of those forms, disclosures or advertisements, the English-language version will take precedence over the foreign-language version.
(c) Waiver. UMB may waive any of its rights or your obligations under the Agreement in a particular situation. UMB is not obligated to do so, and it may choose not to do so even if it has done so before.
(d) Applicable Time Zone. All references to times of day in the Agreement are to Central Time (standard or daylight savings, as applicable).
(e) Questions. Any questions you have concerning the terms of the Agreement or the handling of your Checking Account may be directed to firstname.lastname@example.org.