YOUR BUSINESS
DEPOSIT ACCOUNTS
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Terms & Conditions
Unlawful Internet Gambling Enforcement Act or 2006
Customer Identification Program
FACT Act
Substitute Checks
Funds Availability
Schedule of Charges
Post Office Box 1807
Cedar Rapids, IA 52406
(319) 286-6200
Fax (319) 362-7894
www.guaranty-bank.com
Banking Locations
Downtown Office • 3rd Avenue & 3rd Street SE
42nd Street Office • 1819 42nd Street NE
Cedar Hills Office • 191 Jacolyn Drive NW
Marion Office • 7th Avenue & 25th Street
Fairfax Office • 300 80th Street Court
Bever Park Office • 2711 Bever Avenue SE
On-Line Branch at www.guaranty-bank.com
Phone: (319) 286-6200
Phone: (319) 286-6272
Phone: (319) 286-6282
Phone: (319) 286-6261
Phone: (319) 896-6190
Phone: (319) 896-6194
Your Business/Commercial Account Terms & Conditions
AGREEMENT – This Agreement is the contract that controls all deposit Accounts Guaranty Bank and Trust Company (“Guaranty Bank”) offers to businesses, such as corporations,
partnerships, limited liability companies, sole proprietorships, non-profit organizations, governments, and other legal business entities. Business Accounts subject to this Agreement are to
be used for business and commercial purposes, and not for personal, family or household, or Trust and Asset Management Account purposes. Please read this Agreement carefully and
keep it with your other business records. When you sign the signature card to open your Account with us or apply for or use any of our electronic banking services, you agree to all of the
terms of this Agreement. The deposit relationship between you and us is governed primarily by this Agreement. It also is governed by the laws of Iowa and the laws and rules of the
United States, the rules and regulations of the Board of Governors of the Federal Reserve System and operating letters of Federal Reserve Banks, the rules and regulations of other bank
supervisors, including the Federal Deposit Insurance Corporation, the Consumer Financial Protection Bureau, and the applicable clearing house rules. If this Agreement conflicts with any
of these legal rules, the legal rules control. In this Agreement, we, our and us mean Guaranty Bank and you and your mean the Account owner(s), singly and together if more than one,
and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the Account. Negotiable orders of withdrawal, checks, drafts, other orders, other items and
other withdrawal or transfer requests used to withdraw or transfer funds out of your Account are called Item(s). Funds, whether by cash, check, drafts, or other instruments, wire transfers,
and other forms of credit (such as automated clearing house entries) to your Account are called Deposit(s). Account means all of your business deposit Accounts with us.
OPENING OF ACCOUNTS AND ESTABLISHING SERVICES – Guaranty Bank may in its discretion agree to open and maintain Accounts for you and provide (or continue to provide)
services to you. Guaranty Bank is authorized to rely on the authority of each person designated in such documentation to act in respect to your Accounts until it receives written notice of
a change in such authority and has had a reasonable time to act on it. If you are opening an interest-bearing checking Account, you represent and warrant that you are not operated for
profit and that you either are an organization described in Section 501(c)(3) through (13) and Section 528(c)(19) of the Internal Revenue Code, a homeowners or condominium owners
association described in Section 528 of the Internal Revenue Code, a housing or cooperative association that performs similar functions, a qualified government unit or an unincorporated
sole proprietor. You confirm that your Accounts have been established for legitimate business purposes only.
GENERAL
Representations, Warranties and Covenants: You represent and warrant to, and covenant with Guaranty Bank that (a) your representatives opening Accounts and contracting for
services with Guaranty Bank have been authorized by all necessary business organizations and governmental action and such actions do not violate any provision of law or any provision
of your governing agreements, instruments, by-laws, rules of regulations, including without limitation and as applicable, your charter, articles of incorporation, articles of organization,
partnership agreements, operating agreements or any other agreement binding on you, (b) you and your transactions will comply with all applicable laws, rules and regulations with
respect to services, your Accounts and Account activity, including, without limitation, the Office of Foreign Assets Control-enforced sanctions, (c) each of your transactions has a business
or commercial purpose and each Account is maintained by you for a business or commercial purpose, and (d) you will promptly notify Guaranty Bank of any changes in signing authority
or other authority to act for your Accounts. Guaranty Bank, in opening Accounts and providing services, is expressly acting and relying upon such representations, warranties and
covenants.
Recording: You agree that Guaranty Bank may, but is not obligated to, record and retain any telephone conversations between you, including your purported representatives and agents,
and Guaranty Bank.
Waiver: Either party may waive any of its rights under this Agreement in a particular situation, without becoming obligated to treat future situations similarly. Any waiver must be in writing
signed by the person waiving those rights. A waiver of a particular right does not constitute a waiver of such right on future occasions or any other right under this Agreement.
Amendment/Termination/Closing Accounts: We may revise or amend this Agreement, including the charges described in this disclosure, as well as any other Account brochures,
disclosures and agreements, at any time. We will give you notice of such changes. An amendment will be effective 30 days after we mail or post the notice in our branches and/or on our
website (www.guaranty-bank.com). We may incorporate new Account options. By using a new option, you agree to be bound by the rules concerning that option. You may terminate any
services and any of your Accounts at any time upon written notice to Guaranty Bank. At its discretion, Guaranty Bank may close your Accounts at any time without prior notice. However,
this Agreement will continue to govern matters relating to your Accounts and services, whether arising before or after the termination of services or the closing of your Accounts. Guaranty
Bank will have no responsibility for items that it does not pay after an Account has been closed.
Other Agreements: To the extent that certain terms of this Agreement directly conflict with the terms of any other written agreement between you and Guaranty Bank relating to any
Accounts or services provided by Guaranty Bank, the specific terms of such other agreement shall control. Even if a provision of this Agreement is held to be invalid, illegal, or
unenforceable, the validity, legality, or enforceability of the other provisions of this Agreement will not be affected or impaired by such holding.
Business Day: Every day is a business day except for Saturday, Sunday, and federal holidays. Many of Guaranty Bank’s locations are open on days that are not considered business
days. Any transaction that occurs on a non-business day is considered to have occurred on the next business day.
Effective Date: This Agreement is effective as of the date indicated on the back cover page of this Agreement and supersedes all previous Account agreements.
Use of Access Devices: We may provide you with personal identification numbers, access codes or encryption devices or passwords (access devices) in connection with your Accounts.
If anyone uses the access devices with your permission, you will be responsible for any charges made to the Account. You agree to safely keep the access devices, not to record the
access devices or otherwise disclose or make the access devices available to anyone other than authorized users of your Account.
Miscellaneous: Unless otherwise indicated by the context, any singular references include the plural and any plural references include the singular. Headings are for reference purposes
only and are not part of this Agreement.
PROMPT REVIEW OF INFORMATION
Statements: Guaranty Bank will make available to you a periodic statement of your Accounts by mail or electronically. Periodic statements and notices will be mailed to you at the current
address in our files, unless otherwise requested in writing, or a notice of statement availability will be e-mailed to you at the email address provided by you. When Guaranty Bank makes
your Account Information available to you even if you have since changed your physical or email address but such change of address information has not been timely and properly
communicated to Guaranty Bank, then you will be fully responsible for complying with the time periods described in this section. If you fail to notify Guaranty Bank of a change of address
or for any other reason a statement of your Account Information is returned to Guaranty Bank, then Guaranty Bank may (a) destroy the statement and any accompanying items, (b) cease
sending or otherwise making available to you subsequent statements of your Account Information, and (c) destroy any originals of items subsequently posted to your Account. In each
case, your Account Information shall be deemed to have been made available to you once Guaranty Bank has created it, and the fact that you have not received such Account
Information will not relieve you of your obligations under this section. Check images, if applicable on your particular account type, will be included with your account statement.
Photocopies are available to you for a fee. Our responsibility for furnishing copies of items is limited to those items which are legible and available. All statements, notices, check images
and other items must be examined by you promptly upon receipt.
Customer’s Liability for Unauthorized Transfers and Advisability of Prompt Reporting of Such: If you discover any unauthorized transactions or electronic fund transfers made
without your permission, you must contact us AT ONCE by calling (319) 286-6200 and notifying us of the relevant facts. Telephoning is the best way of keeping your possible losses
down. You could lose all the money in your Account plus the amount available from your overdraft protection line of credit and any other deposit accounts used to protect your account
against overdrafts. Our business days are Monday through Friday from 8:30 to 5:00 except for federal holidays. As between you and us, if you fail to do these duties, you will have to
either share the loss with us, or bear the loss entirely yourself depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss. The loss could be
not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer. You agree that the time you have to examine your
statement and report it to us depends on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is generated, mailed or otherwise made
available to you, whichever is earlier. You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, electronic funds transfers, or any other errors in your
Account within 30 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us, the loss
will be entirely yours. This 30-day limitation is without regard to whether we used ordinary care. You acknowledge and agree that if you request Guaranty Bank to transmit an ACH return
transaction for any erroneous or unauthorized ACH debit posted to your Account, the related originating depository financial institution has no obligation to accept such return transaction
if the return request is not made within the applicable time frame set forth in the NACHA Rules, and even if such time frames are shorter than the time frame stated in this section.
Guaranty Bank shall have no liability or responsibility for any loss resulting from your failure to request such return within such time frame.
HOLD MAIL\NO MAIL
Guaranty Bank does not hold any correspondence including but not limited to statements, checks, check orders, and 1099s. All correspondence and check orders will be mailed to an
address specified by you. Check orders cannot be delivered to a P.O. Box.
FORM ORDERS AND ACCOUNT USAGE
All checks, withdrawal slips and deposit slips (collectively “Forms”) must be obtained through Guaranty Bank or comply with Guaranty Bank’s parameters for those Forms. You are
responsible for verifying the accuracy of all information on those Forms. Guaranty Bank’s liability, if any, for any printing errors on Forms obtained through Guaranty Bank is limited to the
cost of replacement. Guaranty Bank is not responsible for losses you may incur attributable to (a) your use of Forms not obtained through Guaranty Bank or which do not strictly comply
with its parameters or those established by the Federal Reserve Bank System’s technical standards for checks, for those Forms, or (b) your failure to use your Account in compliance with
Guaranty Bank’s rules relating to Account usage. You understand that use of your Account with more than one check series, or by multiple business entities or for multiple business
purposes, significantly impairs fraud detection systems and may thereby increase the risk of unauthorized transactions. As a result, you agree that Guaranty Bank is not responsible or
liable for any fraudulent or unauthorized transaction affecting any of your Accounts that have more than one check series in use and/or are used by multiple business entities or for
multiple business purposes. You acknowledge and agree that (a) Guaranty Bank need not look to the source or application of any funds in connection with your Accounts and (b) if you
establish any Accounts for which you are acting in a(n) fiduciary, agency, escrow or other representative capacity, then you are solely responsible to the principals, beneficiaries or others
with an interest in connection with any such Account, and Guaranty Bank shall not be responsible for monitoring your actions or verifying your compliance with any governing instruments.
In addition, with respect to savings Accounts, if Guaranty Bank determines that excessive Account activity is occurring on any such Account, then Guaranty Bank may impose special
service fees and/or close that Account.
SERVICE CHARGES
Unless Guaranty Bank has a separate agreement with you relating to fees and charges described in this Agreement and any other fees and charges for your Accounts and services
(including any requested or required special service or handling) rendered by Guaranty Bank (collectively, “Fees”), you agree to pay its standard Fees and any applicable special service
or handling Fees. All Fees will be automatically deducted from your Account unless Guaranty Bank has agreed to allow you to pay for Fees through Account analysis and compensating
balances. Guaranty Bank may charge your Account, or may deduct from the proceeds of electronic funds transfers that it receives for your Account, its customary fees for electronic funds
transfers. Guaranty Bank may incur costs in connection with court or administrative orders, subpoenas, summonses, tax levies, or other legal process relating to you or your Account and
you agree to pay Guaranty Bank for such costs, which may include its charges for research and the copying of documents and reasonable attorney’s fees. Guaranty Bank may charge
your Account for any such costs and expenses without prior notice to you.
RIGHT OF SET-OFF/SECURITY INTEREST
You grant us a security interest in all of your Accounts as security for your obligations to us existing now or in the future, no matter how such obligations arise. We also have the right of
set- off as to any monies on deposit in Accounts. If you are a partnership, each partner agrees that we may exercise our right of set-off to satisfy not only your obligations, but also the
individual obligations of any partner. Debts subject to our right of set-off may include debts that may not have been directly incurred by you, as well as debts for which you are only
secondarily liable. Our right of set-off also applies: (1) when we cash a third party check for you over the counter which is returned to us unpaid for any reason; (2) to cover overdrafts
created in any Account whether or not you consented to the overdraft or are otherwise responsible for it; (3) to recover service charges or fees you owe; and (4) to reimburse us for any
costs or expenses in enforcing our rights, including, without limitation, reasonable attorneys’ fees and the cost of litigation to the extent permitted by law. We may exercise our right of setoff even if the withdrawal results in an early withdrawal penalty or the dishonor of Items. You agree that we will not be responsible for dishonoring Items presented against your Account
when the exercise of our right of set-off results in insufficient funds in your Account to cover the Items. Our failure to exercise our right of set-off on any occasion when the right arises
does not affect our right to exercise our right of set-off at a later time for the same occurrence or for any subsequent occurrence. The security interest granted by this Agreement is
consensual and is in addition to our right of set-off.
DORMANT ACCOUNTS/UNCLAIMED PROPERTY
If Guaranty Bank is unable to contact you through the U.S. mail or via email and you do not initiate activity in an Account for a substantial period of time, then Guaranty Bank may treat
the Account as being dormant. Guaranty Bank may impose non-refundable Fees, cease paying interest, and if applicable, cease sending Account statements or other Account
Information regarding dormant Accounts. In order to protect your funds, you agree that if Guaranty Bank has deemed your Account to be dormant, then it may refuse to pay items drawn
on the Account until you re-establish contact with Guaranty Bank regarding the Account. Guaranty Bank is required by law to turn over the funds in your Account to the state of Iowa as
unclaimed property if, for a period of three (3) years, you do not maintain contact with Guaranty Bank regarding your Account. All funds remaining in an Account may be turned over to the
custody of the state of Iowa after the Account has been presumed abandoned because of lost contact. For certificate of deposit Accounts the period giving rise to the presumption of
abandonment begins after we have lost contact with you. An Account will be presumed abandoned if, for the period of time specified by applicable law, we have not been able to contact
you through mail or e-mail. Dormant Accounts may be subject to reasonable service charges as set forth in our fee schedule. We are relieved of all responsibility if your Account balance
is turned over to a state as provided by applicable law.
LIMIT ON LIABILITY/INDEMNITY
Guaranty Bank’s liability hereunder (a) with respect to matters outside the scope of Article 4A of the Iowa Uniform Commercial Code (“Article 4A”), shall be limited to direct damages
attributable to Guaranty Bank’s failure to exercise ordinary care (except as otherwise set forth in this Agreement), and (b) with respect to matters governed by Article 4A, shall be limited
to interest losses (calculated by the Bank based on the average of the federal funds effective rate for the period involved) attributable to Guaranty Bank’s failure to exercise ordinary care
resulting in a delay in executing, improper execution of, or failure to execute a payment order (as defined under Article 4A); in no event will Guaranty Bank be liable hereunder for direct
damages, including, without limitation, indirect, special consequential, exemplary or punitive damages, attorney’s fees or lost profits, even if Guaranty Bank has been advised that they
may be incurred. Notwithstanding the foregoing, with respect to check processing, because of the high volume of items Guaranty Bank processes and the automated nature of such
processing, you agree that Guaranty Bank will not be considered to have failed to exercise ordinary care if it examines (a) items pursuant to one or more procedures or criteria designed
to detect irregular Account activity, even if such procedures or criteria do not require inspection of all items presented on the Account, or (b) items that meet certain minimum criteria
which Guaranty Bank may establish for inspection. Except to the extent attributable to Guaranty Bank’s own negligence or willful misconduct, you agree to reimburse Guaranty Bank for,
and indemnify and hold Guaranty Bank harmless from and against, any and all actions, claims, damages, liabilities, losses and expenses (including reasonable internal and external
attorney’s fees and costs) Guaranty Bank may incur in connection with or relating to your Accounts, services Guaranty Bank provides to you and/or this Agreement, including, without
limitation, the enforcement of this Agreement, any actions or transactions contemplated hereunder, any breach by you of any of the terms on this Agreement, and any expenses incurred
if Guaranty Bank must appear in, or respond to, any legal proceedings involving your Account. Guaranty Bank will not be responsible for any losses for damages or its failure to perform
services, to the extent that they are caused by natural disasters, wars, acts of terrorism, riots, strikes, computer failure, software malfunction, the loss of power, communication or
transportation facilities, or other matters beyond Guaranty Bank’s control.
NOTICES
Except as otherwise provided in this Agreement, all notices and other communications by you or Guaranty Bank relating to this Agreement generally shall be in writing and, if to you,
addressed to your primary mailing address as shown on Guaranty Bank’s records at such time, and if to Guaranty Bank, addressed to Guaranty Bank, 302 Third Avenue SE, Cedar
Rapids, IA 52401.Without limiting the foregoing, Guaranty Bank is entitled to rely on any notice or communication that it believes in good faith to be genuine or has been authorized or
signed by your authorized representative. Notices sent to you by mail are effective when you receive them or three (3) business days after Guaranty Bank mails them to you, whichever is
earlier. You further acknowledge and agree that, to the extent permitted under this Agreement or otherwise agreed with Guaranty Bank, certain notices and communications may be
provided to you by telephone, fax, e-mail or other electronic transmission at the telephone number, fax number, e-mail address or other location or number as shown on Guaranty Bank’s
records; any such notice or communication provided by fax, e-mail or other electronic transmission will be effective upon Guaranty Bank’s transmission thereof to you, and any such
notice given by telephone will be effective upon your receipt thereof. Guaranty Bank may rely on all notices, instructions and other communications sent to Guaranty Bank via fax or
electronic transmission as though they are originals. Notices to Guaranty Bank, including any notices of change of address, are effective when it receives them and has had a reasonable
period of time to act upon them. Guaranty Bank reserves the right not to send any notice for Accounts it considers dormant. Notice from us to any one of you is notice to all of you. At our
choice, we may give notice to you by mail or by revising this Agreement and making it available in our branches and/or on our website (www.guaranty-bank.com). We will mail you the
most recent version of this Agreement if you request such. If a specific notice period or type of notice is required by law, the notice will be made and will be binding in accordance with
such law. Any notice, request or other communication you are required to give us must be in writing and sent by certified or registered United States mail, return receipt requested,
postage prepaid, to Guaranty Bank, 302 Third Avenue SE, Cedar Rapids, IA 52401, unless another part of this Agreement specifically permits or requires you to give notice orally. When
this Agreement specifically authorizes you to give us oral notice, you may call our Customer Assistance Center at (319) 286-6200.
CHANGE OF ADDRESS OR INFORMATION
You agree to notify Guaranty Bank promptly in writing of any change of address including a change in your telephone number, fax number, e-mail address (other relevant information on
Guaranty Bank’s records) and the Accounts affected, and notice of such changes will be recognized by Guaranty Bank if (a) signed by an authorized signer for each of the Accounts
affected, and (b) sent to the following address: Guaranty Bank, 302 Third Avenue SE, Cedar Rapids, IA 52401.
TRANSFERABILITY/ASSIGNMENT
Your Account is for your use only and is transferable only on Guaranty Bank’s records. You agree that you will not pledge, transfer, assign or otherwise grant a lien on or security interest
in your Account without obtaining Guaranty Bank’s prior written consent. You further acknowledge and agree that Guaranty Bank has no obligation to consent to, accept or recognize any
attempted or requested pledge, transfer, assignment or grant of a security interest in any Account.
POWERS OF ATTORNEY
Guaranty Bank will review any power of attorney document presented as evidence of another person’s authority to transact business on another individual’s Accounts. If acceptable, such
person’s authority, as interpreted by Guaranty Bank, will be recognized until Guaranty Bank receives written notice of revocation or termination of that power of attorney document, and it
has been given reasonable time to act upon it. Guaranty Bank also reserves the right to restrict the types or sizes of transactions it will permit the power of attorney to conduct, on a caseby-case basis.
LEGAL CLAIMS; ADVERSE CLAIMS; SUSPICIOUS ACTIVITY; LEGAL PROCEEDINGS
If another person or entity makes a claim against funds in your Account, or if Guaranty Bank has reason to believe there is or may be a dispute over matters such as the ownership of
such Account or the authority to withdraw funds from it, or that there is suspicious activity involving the Account, or that any transaction of the Account is unauthorized or fraudulent,
Guaranty Bank may, in its sole discretion, (a) continue to rely on current signature cards, resolutions or other Account documents, (b) freeze all or part of the funds until the dispute is
resolved to Guaranty Bank’s satisfaction, or (c) pay the funds to an appropriate court of law for resolution. Guaranty Bank may also restrict use of your Account if it is subject to any legal
proceeding such as a tax levy, garnishment, citation to discover assets, attachment, bankruptcy proceeding or injunction. Guaranty Bank may assess its applicable Fees against any
Account subject to legal proceedings. We will disclose information to third parties about your Account or the transfers you make: (1) In order to comply with government agency or court
orders or, (2) If you give us your written permission.
NON-CONSENSUAL LIENS AND ATTACHMENTS
Following receipt by Guaranty Bank of any notice of statutory lien, judgment lien or similar lien, process an attachment, garnishment or other proceeding relating to you or your Account,
Guaranty Bank is authorized, without notice to you, to withhold payment of all or a portion of the balance in the Account, in accordance with its standard practices, unless otherwise
required by law, and to pay to the court or creditor, in accordance with applicable state or federal law, the amount specified in such notice or process, without responsibility to you for such
withholding or payment or for refusal to honor withdrawals or items made by you. Any garnishment, attachment or other levy against your Account is subject to Guaranty Bank’s right of
set-off as described in this Agreement, unless otherwise prohibited by law. We will disclose information to third parties about your Account or the transfers you make: (1) In order to
comply with government agency or court orders or, (2) If you give us your written permission.
DEPOSITS
Items Deposited: Guaranty Bank will apply customary business practices and applicable law in acting as your agent in collecting any items deposited to your Account. Credit for items
deposited, other than cash, is provisional and subject to revocation if an item is not paid for any reason. Guaranty Bank may, in its discretion, refuse, return, or accept for collection only,
all or part of any deposit. In the event that any claim is made against Guaranty Bank relating to any item after it has been paid by the financial institution on which it is drawn, then
Guaranty Bank may withhold the amount of the item from your Account until a final determination of the claim is made. We are not responsible for transactions by mail or outside
depository until we actually receive them. Unless otherwise stated in our Funds Availability Policy, if you deposit funds to your Account on a non-business day, after the close of business
on any day, after 5:00 pm, or to a night depository, we will treat the deposit as received by us at the opening of business on our next business day.
Verification of Deposits: All deposits to your Account are subject to subsequent verification, and if an error is discovered, a deposit adjustment will be made accordingly. You agree to
maintain records of each and every item deposited to your Account, including drawer and amount information because, if the need arises, those records will be essential for the recreation of any deposit and completion of settlement of the items part of such deposit. You also agree to cooperate with Guaranty Bank in reconstructing any deposit.
Endorsements: Guaranty Bank may accept for deposit any item last endorsed by you, whether such endorsement is written or stamped. It is important to properly endorse all deposited
items because Guaranty Bank may, in its discretion, refuse to accept for deposit (or refuse to cash for you over the counter) any item that is payable to another person or which Guaranty
Bank believes is not properly endorsed. Guaranty Bank is authorized (but not obligated) to accept for deposit, and/or supply your endorsement on, any item payable to you that is missing
your endorsement. You agree that you will not deposit any item bearing an endorsement that is outside of the area extending 1-1/2 inches from the trailing edge of the back of the item or
which otherwise causes the endorsement of the bank of first deposit to be obscured, and this results in a delay in the return of that item. The trailing edge is defined as the left side of the
item as viewed from the front. You are responsible for all losses resulting from your failure to comply with the requirement of this subsection. See reference to Facsimile Signatures and
Incomplete and Conditional Items and Restrictive Legends under the WITHDRAWALS section.
Identification of Account: It is important for you to clearly identify the Account to which a deposit is to be made because you will be responsible for any loss or expense caused by
incorrect or unclear Account identification.
Items Returned: If a deposited item is returned to Guaranty Bank unpaid, then Guaranty Bank will automatically reverse the credit to your Account. You agree to reimburse Guaranty
Bank if funds in your Account are not sufficient to cover the amount of any returned deposited item. You also agree to pay Guaranty Bank the amount of any fees and charges relating to
such returned deposited item. You waive notice of dishonor, presentment and protest of any such returned items. At Guaranty Bank’s option and without notice to you that the item has
been returned, Guaranty Bank may resubmit any returned item for payment. Guaranty Bank may process a copy or other evidence of the returned item in lieu of the original.
Foreign Currency: If Guaranty Bank takes an item payable in foreign currency for deposit or collection, you will bear all exchange rate risk. All foreign currency will be sent for collection
only and Guaranty Bank will credit the item to your Account when it has actually received the proceeds in U.S. dollars. You are responsible for the collection fee and any fees charged by
a foreign financial institution even if Guaranty Bank does not receive final payment for any foreign currency item.
Encoding/Endorsing: If you have made arrangements with Guaranty Bank for encoding your deposited items and/or adding Guaranty Bank’s endorsement on those items, then you
agree to adhere to Guaranty Bank’s encoding and endorsement standards. You are responsible for all losses resulting in your failure to adhere to such standards.
Direct Deposits: If, in connection with a direct deposit plan, we deposit any amount in an Account which should have been returned to the Federal Government for any reason, you
authorize us to deduct the amount of our liability to the Federal Government from the Account or from any other Account you have with us, without prior notice and at any time, except as
prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
INTEREST
Your interest-bearing checking Accounts (sometimes called NOW Accounts) and money market and savings Accounts will earn interest at rates determined by us in our sole discretion for
the type of Account which you have with us. The rate of interest Guaranty Bank pays on your Account will change when the rate Guaranty Bank announces changes. Rate information will
be available each business day at our offices or on our website at www.guaranty-bank.com. Guaranty Bank may elect to pay higher rates of interest for higher balance levels and different
rates for deposits into different Accounts or deposits at different offices. Interest for all interest-bearing Accounts will be computed for actual days on a 365 day basis. Interest will be
credited directly to your Account unless otherwise provided in this Agreement or Guaranty Bank has an agreement with you specifying another arrangement for paying or crediting your
interest. Interest earned on Lawyers Trust Accounts (IOLTA) in Iowa will be paid to the State of Iowa on a monthly basis. Interest on Real Estate Trust Accounts is paid to the state
quarterly. Guaranty Bank uses the daily balance method to calculate the interest on your NOW, money market and savings Accounts. This method applies a daily periodic rate to the
available balance in the Account each day. Interest starts to accrue on the business day of your cash deposit and no later than the business day the bank receives credit for the deposit of
non-cash items (e.g., checks) to, but not including, the business day of withdrawal. If you close your Account before interest is credited, you may not receive the accrued interest and fees
may apply. Interest will be compounded and credited on a monthly basis for your NOW, money market and statement savings Accounts. The balance earning interest in your Account is
reduced for one (1) business day by the amount of any check drawn on another institution and cashed against your Account. Guaranty Bank may reverse interest paid on deposits from
returned checks. Guaranty Bank reserves the right to not pay interest on Accounts subject to a tax levy, garnishment, citation to discover assets or other legal action. If you do not certify
that you provided us with the correct taxpayer identification number for your Account, Guaranty Bank may be required to withhold a certain percentage of your interest income. Withheld
interest will be forwarded to the Internal Revenue Service in accordance with federal regulations.
WITHDRAWALS
Notice of Intended Withdrawal: Ordinarily you may withdraw funds from your Account without giving Guaranty Bank prior notice. Under federal law, Guaranty Bank reserves the right to
require you to give seven (7) days prior notice of your intent to withdraw funds from savings Accounts, money market Accounts, or interest bearing checking (NOW) Accounts. When you
are making a withdrawal, we may ask you for identification. You may withdraw funds by using forms furnished or approved by us and by any other method permitted by us. Any of you
acting alone, who signs in the space designated for signatures on the signature card may withdraw or transfer all or part of the Account balance at any time. We may pay an item drawn
on an Account which contains an authorized signature. We may return unpaid any item that does not contain a signature reflected on the signature card unless you have communicated
to us in advance of the presentation of the item that the item should be paid. You agree that if we take an item for processing for collection or payment by automated means, we are not
required to manually examine the item. See the Funds Availability Policy section for information about when you can withdraw funds you deposit. For those accounts for which our Funds
Availability Policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal.
Savings Deposit Transaction Limitations: Guaranty Bank offers a Business Statement Savings Account. Savings Accounts for businesses are intended primarily for investment of
excess funds and not as a substitute for a checking Account. If your Account is a savings Account, money market Account or other “savings deposit”, as defined under federal law, no
more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle (or similar period) of at least four weeks, to another
account (including a transaction account) of the depositor at the same institution or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data
transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties. The date the check or other transaction
clears your Account (rather than the date of the check or transaction) will determine whether you have exceeded the permitted number of transactions. If you exceed these restrictions,
you may incur service charges. Guaranty Bank may close your Account or take other appropriate action, including converting the savings account into a checking account, as permitted
under applicable law, for repeated violations of these transaction limitations. Guaranty Bank does not limit the number of transfers or withdrawals made in person, by ATM, mail or
messenger, or the number of withdrawals made by telephone (paid by check mailed to you). If you are not sure whether your Account is subject to these limitations, please ask your
Account officer.
Incomplete and Conditional Items and Restrictive Legends: If you establish an Account which contains any manner of restrictive legend (such as requiring multiple signatures on any
items drawn on the Account, limits the maximum amount for which any person can sign an item or otherwise restricts signing authority, or voiding the document after a specified period of
time) or write any item that is incomplete (as you intended), then you agree that any such intended incompleteness or requirements are solely for your own internal purposes. You agree
that Guaranty Bank may pay or refuse to pay such items without regard to any such incompleteness, requirements, limits or restrictions.
Facsimile Signatures: If your items are signed using any facsimile signature or other non-manual form of signature, you acknowledge that (a) its use is solely for your benefit and
convenience, and (b) any such signature will be effective as an authorized original signature on any and all such items presented against your Accounts regardless of whether or not the
person affixing it was authorized to do so. This as long as the facsimile signature they contain resembles any specimen or sample facsimile signature which you have given to us. You
also agree that we will not be responsible if we pay any item which has been forged, altered or counterfeited regardless of by whom, or by what means including electronic or photostatic
copying, in a way that a reasonable person could not detect. You agree that if we take an item for processing for collection or payment by automated means, we are not required to
manually examine the item.
Pre-Authorized Drafts and Other Good Faith Disbursements: Provisions for converting a check, draft, or similar paper instrument into a one-time electronic transfer. You may
authorize a merchant or other payee to make a one-time electronic payment from your Account using information from your check to pay for purchases or pay bills. When you provide a
check as payment, you authorize Guaranty Bank to honor any form of pre-authorized draft to make a one-time electronic fund transfer from your Account. When we use information from
your check to make an electronic fund transfer, funds may be withdrawn from your Account as soon as the same day you make or we receive your payment and you will not receive your
check back from us. A pre-authorized draft includes, without limitation, depository transfer checks, pre-authorized drafts and pre-authorized checks. Pre-authorized drafts do not require a
signature. If Guaranty Bank presents to you a “payable through” or “payable at” draft, then you agree to return any such draft that you do not wish to pay in accordance with Guaranty
Bank’s schedule for the return of those types of drafts, and you agree to reimburse Guaranty Bank for any loss it may incur due to your failure to make a timely return of those drafts. You
agree that Guaranty Bank may disburse funds from your Account in good faith reliance on any of the above drafts presented to Guaranty Bank and it shall not be liable to you for any of
those good faith disbursements.
Presentment: Your Account may be debited for an item drawn on your Account on the day the physical item is presented (physically, electronically or by other means), or at an earlier
time based on notification received by Guaranty Bank that such item has been deposited at another financial institution and will be physically presented for payment by another financial
institution. A determination of your Account balance for purposes of making a decision to dishonor an item for insufficient available funds may be made at any time between the receipt of
such presentment or notice and the time of return of the item, and no more than one (1) such determination need be made.
Postdated Items - An item is postdated if it is dated after the date it is presented for payment. Guaranty Bank reserves the right to honor or dishonor postdated items. Guaranty Bank will
not be liable for any damages caused by payment of a postdated item or for any damages resulting from dishonor of a postdated item presented for payment before the date of the item.
“Stale-dated” Items - Guaranty Bank is not required to pay any item presented more than six (6) months after its date, other than a certified check. However, Guaranty Bank may pay
such item if it does so in good faith. Guaranty Bank is acting in good faith as long as there is not a valid stop payment order in effect when it pays the item.
Currency Conversion - If you effect a transaction with your MasterCard card in a currency other than U.S. dollars, MasterCard International Incorporated will convert the charge into a
U.S. dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards. Currently the currency conversion
rate used by MasterCard International to determine the transaction amount in U.S. dollars for such transactions is generally either a government mandated rate or a wholesale rate
determined by MasterCard International for the processing cycle in which the transaction is processed, increased by a Currency Conversion Assessment of 0.20 percent. The currency
conversion rate used by MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.
TYPES OF DEPOSIT ACCOUNTS
Demand and Transaction Deposit Accounts: A demand deposit or checking Account is a deposit Account payable on demand and from which you are permitted to make transfers or
withdrawals by negotiable or transferable instrument, payment order of withdrawal, telephone transfer or similar device to third parties or others. We do not require advance written notice
of your intent to withdraw funds from a demand deposit Account. A transaction deposit or negotiable order of withdrawal (“NOW”) Account is a deposit Account from which you are
permitted to make transfers or withdrawals by negotiable or transferable instrument, payment order of withdrawal, telephone transfer or similar device to third parties or others. These
Accounts are sometimes referred to as interest checking Accounts and are not available to all customers. We reserve the right to require at least seven days written notice prior to
withdrawal or transfer of any funds from such an Account. Although we may pay withdrawals or make transfers without such notice, doing so does not mean that we give up this right.
Savings Deposit Accounts: A savings deposit account is a deposit account on which we reserve the right to require seven days prior written notice from you for any withdrawals. The
number of withdrawals that you may make from this account during a statement cycle may be limited. Please see Savings Deposit Transaction Limitations under the WITHDRAWAL
section for further details.
Time Deposit or Certificate of Deposit Accounts: A time deposit or certificate of deposit is a deposit account for a specified time period from which you are not permitted to make
withdrawals without the deposit being subject to an early withdrawal penalty. When you open your time deposit account, we will disclose the terms of the early withdrawal penalty. We
reserve the right to refuse to allow withdrawals prior to maturity. If we allow a withdrawal prior to maturity, we may impose an early withdrawal penalty. A certificate of deposit is a form of
time deposit.
TRANSFER TYPES & LIMITATIONS
Limitations: You agree that Guaranty Bank may refuse to cash over the counter any check drawn against your Account (or any check payable to you that is drawn on another bank),
based on Guaranty Bank’s check cashing policies. If Guaranty Bank suspects fraud on your Account, then it may cease honoring any and all checks drawn on, or funds transfers
(including, without limitation, any ACH debits) from your Account and may require you to close your Account or take other actions that it deems appropriate under the circumstances. Any
such action resulting in the refusal to pay or the return of any check or funds transfer shall not be deemed a wrongful dishonor of such check or violation of any applicable funds transfer
system rules or regulations as long as Guaranty Bank has acted in good faith. You are responsible for any and all losses if you fail to comply with Guaranty Bank’s requirements
regarding any Account on which fraudulent or unauthorized activity has previously occurred.
Overdrafts: Guaranty Bank may charge an overdraft fee for overdrafts created by check, in-person withdrawal, ATM/Debit Card withdrawal, or other electronic means. The fee will be
assessed as overdrawn items are presented against your account, which may be at any time during the day or night. Guaranty Bank is not obligated to honor any withdrawal/payment
transaction if your Account does not contain sufficient collected funds, but Guaranty Bank may pay such transactions at its option and charge you a fee if any overdraft results or if it pays
that transaction (in whole or in part) against uncollected funds. In addition, if payment is not received for any deposited item or Guaranty Bank does not receive final settlement for an
electronic funds transfer, then the amount of the credit given in connection therewith will be charged back to your Account and, if there are not sufficient collected funds in your Account,
such charge back may create an overdraft for which Guaranty Bank may charge you a fee. You agree to pay immediately upon demand any fees for paying transactions against
uncollected funds, the amount of any overdrafts and any overdraft fees, as applicable. Guaranty Bank’s payment of any transactions based on uncollected funds or which causes an
overdraft, on one or more occasions, does not obligate Guaranty Bank to allow payment of any other transactions under those circumstances. Guaranty Bank has no obligation to notify
you before it returns any transaction unpaid because of insufficient funds, and you agree to pay immediately upon demand any fees for Guaranty Bank’s return of any such transaction.
Stop Payments: When placing a stop payment order, you agree to indemnify us and hold us harmless for all expenses, costs and attorney fees incurred by us due to our refusal to pay
the item. You will be charged for every stop payment and stop payment renewal you request. You may ask Guaranty Bank to stop payment on any item drawn on your Account or ACH
debit originated against your Account if you do not want that item or ACH debit paid. Guaranty Bank is not bound by a stop payment request until it has had a reasonable time to act on it,
but in no event will Guaranty Bank be liable for paying the item or ACH debit on the same day Guaranty Bank received the stop payment request for it. Guaranty Bank will honor a verbal
stop payment for 14 days. After that time, Guaranty Bank is not obligated to honor a stop payment request for an item unless it is in a writing (which may include electronic transmissions
using a Guaranty Bank –approved method) that contains the exact amount, item number, Account number, and in some cases, the name of the payee, and any other information as
Guaranty Bank may reasonably require. You understand that the systems that effect stop payments are computerized and therefore the required information must be precise, which
means that the exact amount, item number or originator name (in the case of an ACH debit) and Account number must be provided. Each written stop payment request for an item or
ACH debit (or all ACH debits from the same originator) is effective only for six (6) months (or shorter time as you may specify) unless renewed by you in writing before it expires. Guaranty
Bank may pay an item or ACH debit after any stop payment request placed on it expires. Guaranty Bank’s liability for paying an item or ACH debit subject to a proper and timely stop
payment request is limited to the actual loss suffered, up to the amount of the item or ACH debit. You must prove the amount of your loss. Except as permitted by law, you cannot
request, and Guaranty Bank is not obligated to accept, a stop payment request on any certified checks, cashier’s checks or other official bank checks. You may stop payment on any item
drawn on your account whether the item is signed by you or not, if you have an equal or greater right to withdraw from this account. The person who initiated the stop payment order may
only make a release of the stop payment request. Additional limitations regarding our obligation to make stop payments are provided by law (e.g. we paid the item in cash or certified the
item.)
ACH TRANSFERS
The Electronic Funds Transfer Act is a consumer credit law and does not apply to business purpose accounts. The following is for informational purposes only as it applies to ACH
processing.
Governing Rules: From time to time, you may be a party to an Automated Clearing House (ACH) entry or an electronic funds transfer that may be posted to your Account as a credit or
debit. With respect to ACH transactions, you agree to be bound by the rules and regulations of the state of Iowa and National Automated Clearing House Association (NACHA) and any
local clearinghouse used to effect such transactions, as those rules and regulations are in effect from time to time. You may initiate ACH-type transfers including but not limited to WEB
and TEL transactions. You initiate a WEB transaction by providing a third party your Account number and routing information over the Internet. A TEL transaction is similar in nature
except you authorize the transfer over the phone. With respect to other electronic funds transfers, you agree to be bound by any rules and regulations then in effect governing the use of
any system through which such transfers are affected. This Agreement shall apply to all electronic funds transfers (including ACH transactions and any internal funds transfers); to the
extent the terms and provisions of this Agreement directly conflict with any specific rules or regulations of any applicable funds transfer system, this Agreement shall control unless
modification by agreement of such specific rules or regulations is expressly prohibited there under.
Notice: Guaranty Bank will notify you in your periodic Account statement of any credit to or debit from your Account resulting from Guaranty Bank’s receipt of any electronic funds transfer
instructions, and it will not be required to provide any other notice to you. If you receive regular payments that 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.)
Final Payment: Credit to your Account with respect to an ACH credit entry is provisional until Guaranty Bank receives final settlement for the funds. If Guaranty Bank does not receive
final settlement for the funds, you are hereby notified and agree that Guaranty Bank may reverse the credit to your Account or that you will otherwise reimburse Guaranty Bank if funds in
your Account are not sufficient. You also agree to pay Guaranty Bank the amount of any fees and charges regarding any funds transfer described in this section. In the event that your
ACH payment to a receiver does not become final, your underlying obligation to that receiver will not be discharged. If an ACH payment to you from another party does not become final,
then that party’s underlying obligation to you will not be discharged.
ACH Reliance on Account and Identifying Numbers: Guaranty Bank is not responsible for detecting errors in any funds transfer instruction. You acknowledge that funds transfers may
be made on the basis of Account number or other identifying number (including a bank transit routing number). Guaranty Bank and any receiving bank (including any beneficiary’s bank
and any intermediary bank) may rely on the Account number or other identifying number of any bank, person or bank Account specified in any funds transfer instruction even if such
numbers identify a bank, person or bank Account different from the bank, person or bank Account designated by name, and your obligation to pay the amount of such funds transfer
instruction to Guaranty Bank is not excused in those circumstances.
ACH Reversals: You may have the right to reverse any debit to your Account sent through the Automated Clearing House system (ACH) that was not authorized by you. If you want to
reverse a debit, you must give us a written statement within 60 days after you get information from us that reflects that debit. In your written statement, you must declare that the debit
was not authorized by you. If we receive your written statement within the 60-day time period, we will re-credit your Account for the amount of the payment. This right of reversal is in
addition to your right to stop payment. From time to time, you may be a party to an Automated Clearing House (ACH) entry or an electronic funds transfer that may be posted to your
Account as a credit or debit. With respect to ACH transactions, you agree to be bound by the rules and regulations of the state of Iowa and National Automated Clearing House
Association (NACHA) and any local clearinghouse used to effect such transactions, as those rules and regulations are in effect from time to time. With respect to other electronic funds
transfers, you agree to be bound by any rules and regulations then in effect governing the use of any system through which such transfers are affected. This Agreement shall apply to all
electronic funds transfers (including ACH transactions and any internal funds transfers); to the extent the terms and provisions of this Agreement directly conflicts with any specific rules or
regulations of any applicable funds transfer system, this Agreement shall control unless modification by agreement of such specific rules or regulations is expressly prohibited there
under.
Security Procedures: If electronic funds transfer instructions (including any amendment thereto or cancellation thereof) are communicated to Guaranty Bank by you or on your behalf
other than in compliance with one of Guaranty Bank’s approved methods (which currently are the following: calling directly to Guaranty Bank’s ACH department or electronically
transmitting instructions directly to Guaranty Bank’s operations area using one of its approved products), and Guaranty Bank accepts those instructions in good faith, then you agree to be
bound by those instructions, whether or not authorized, and you will be deemed to have refused the security procedures that Guaranty Bank offers and recommends as “commercially
reasonable” and you will be obligated to pay Guaranty Bank the amount of each such instruction even if it was not authorized. However, you agree that Guaranty Bank is not obligated to
accept any instruction that is communicated to it other than in compliance with one of its approved methods. Guaranty Bank will not be responsible for refusing to act upon any instruction
received that does not comply with one of its approved methods. You acknowledge and agree that any requirement for confirmation or approval of any electronic funds transfer
instructions communicated to Guaranty Bank using one of its approved methods or products is strictly for your internal control purposes only, unless the applicable security procedures
provide for verification of such additional authorization or Guaranty Bank agrees, in writing, that it will verify any such additional authorizations as part of the agreed-upon security
procedures, and you agree to be bound by any and all funds transfer instructions as long as Guaranty Bank has acted in good faith and in accordance with the applicable security
procedures.
Payments: You agree to pay to Guaranty Bank the amount of each funds transfer instruction no later than the date on which it is processed by Guaranty Bank.
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, the person or company
making the deposit will tell you every time they send us the money or you can call us at (319) 286-6200 to find out whether or not the deposit has been made.
Reversal: You may have the right to reverse any debit to your Account sent through the Automated Clearing House System (ACH) that was not authorized by you. If you want to reverse
a debit, you must give us an affidavit within 30 days after you get information from us that reflects that debit. In your affidavit, you must declare and swear under oath that the debit was
not authorized by you. If we receive your affidavit within the 30-day time period, we will re-credit your Account for the amount of the payment. This right of reversal is in addition to your
right to stop payment.
Liability for failure to stop payment of preauthorized transfer: If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not
do so, we will be liable for your losses or damages.
UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT OF 2006
REGULATION GG
Guaranty Bank is obligated to comply with the Unlawful Internet Gambling Enforcement Act of 2006, which prohibits proceeds of illegal Internet gambling from being processed through
commercial deposit accounts, or via wire transfer, ACH or other funds transmission. Unlawful Internet gambling is defined, broadly, as placing, receiving or otherwise knowingly
transmitting a bet or wager by any means which involves the Internet – and where such bet or wager is unlawful under federal, state or tribal law.
With the continued use of your commercial deposit account, you agree that such transactions will not be conducted through your account and that you will notify us immediately should
your account be used for Internet gambling of any kind. The act also states that if we should discover your account is being used for such restricted transactions, we may terminate your
access to certain payment systems and/or close your account.
CUSTOMER IDENTIFICATION PROGRAM
On September 11, 2001, our lives changed forever. In an effort to protect you and our country, the USA PATRIOT Act was signed into law. 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. As
required by federal law and Guaranty Bank’s policies and practices, Guaranty Bank will need to collect certain identification information and documentation in connection with opening or
maintaining Accounts (which includes Trusts, Investments, Deposits, Loans and Safe Deposit Boxes) or establishing or continuing to provide services. Such documentation may include
evidence that your representatives are authorized to open Accounts and take other actions on your behalf, and may be in the form of resolutions, certificates, signature cards, or other
documents acceptable to Guaranty Bank. In some cases, that documentation and information may also include evidence of identification and/or personally identifiable information of
those authorized to act on your Account which is acceptable to Guaranty Bank.
•
Name
•
Physical Address
•
Date of Birth (if a sole proprietor)
•
Taxpayer identification number (TIN)
•
Other information for us to identify you
You agree to provide the above described information and documentation as Guaranty Bank may request from time to time. Guaranty Bank proudly supports all efforts to protect and
maintain the security of our customers and our country.
FAIR & ACCURATE CREDIT TRANSACTIONS ACT (FactACT)
We may report information about your account to credit bureaus. Charged off deposit accounts, late payments, missed payments or other defaults on your account may be reflected in
your credit report.
SUBSTITUTE CHECKS & YOUR RIGHTS
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 bank 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 check images that you receive back from us may be
substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your
Account. However, you have rights under other law with respect to those transactions.
What are my 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 Account (for example, if you think that we withdrew the wrong amount from your Account or that we withdrew money from your 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 Account and fees that were charged as a result of the
withdrawal (for example, overdraft check fees). 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 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 law. If you use this procedure, you may receive up to $2,500 of your refund, plus interest if your Account earns interest, within 10 business
days after we received your claim and the remainder of your refund plus interest, if your Account earns interest, not later than 45 calendar days after we received your claim. We may
reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your Account.
How do I 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 Account, please contact us
at (319) 286-6200.You must contact us within 40 calendar days of the date that we mailed, or otherwise delivered by means to which you agreed, the substitute check in question or the
Account statement showing that the substitute check was posted to your Account, whichever is later. We will extend this time period if you were not able to make a timely claim because
of extraordinary circumstances.
Your claim must include:
•
A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
•
An estimate of the amount of your loss;
•
An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
•
A copy of the substitute check, and the following information to help us identify the substitute check: identifying information, for example the check number, the name of the person
to whom you wrote the check, the amount of the check.
FUNDS AVAILABILITY POLICY
Your Ability To Withdraw Funds at Guaranty Bank. This policy statement applies to all transaction accounts.
Our policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit. Cash, electronic direct deposits and wire transfers
will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written. If we cash
a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the
time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another bank, we may make funds from the
deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the
other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check you deposited. Be sure to ask one of
our branch employees when funds will be made available for withdrawal or for payment of debits on your account.
Determining the Availability of a Deposit - For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make
a deposit before 5:00 pm on a business day that we are open (and not a federal holiday), we will consider that day to be the day of your deposit. However, if you make a deposit after
5:00 pm or on a weekend or holiday, we will consider that the deposit was made on the next business day we are open. Any deposit you make through the mail will be considered
deposited on the business day the deposit is received by us. Any deposit made to a Night Depository will be considered deposited on the business day it is removed from the Night
Depository.
Deposits at Automated Teller Machines (ATM) - Deposits that you make at an ATM that is owned or operated by Guaranty Bank will be subject to a 6:00 pm cutoff hour. If you make
the deposit before 6:00 pm on a business day (as described in the section above) we will consider that day to be the day of your deposit. Deposits made after 6:00 pm or on a nonbusiness day, will be credited the next business day. Deposits made at ATMs we own or operate will not be available until the 2nd business day after the day of your deposit. All ATMs
that we own or operate are identified as our machines. Notice: If you use an ATM that is not operated by us, you may be charged a fee by the operator of the machine and/or by an
automated transfer network. Funds from any deposits (cash or checks) made at ATMs we do not own or operate will not be available until the fifth business day after the day of your
deposit.
Next-Day Availability - If you make your deposit in person to one of our employees, by mail or through a Night Depository, the first $5000 of the days total funds from the following items
included in the deposit are available on the first business day after the day of your deposit if the item is payable to you and one of the following:
•
U.S. Treasury checks
•
Federal Reserve Bank checks, Federal Home Loan Bank checks and U.S. Postal Service money orders
•
State and local government checks
•
Cashier’s, certified and teller’s checks.
•
Checks drawn on Guaranty Bank.
Longer Delays May Apply - In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending
on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $200 of your deposits, however, may be available
on the first business day. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will
also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail
you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you
deposit by check may be delayed for a longer period under the following:
•
We believe a check you deposited will not be paid
•
You redeposit a check that has been returned unpaid
•
You deposit checks totaling more than $5000 on any one (1) day
•
You have overdrawn your account repeatedly in the last six (6) months
•
There is an emergency, such as failure of communications or computer equipment. We will notify you if your ability to withdraw funds is delayed for any of these reasons, and we
will tell you when the funds will be available - generally no longer than seven (7) business days.
Special Rule for New Accounts - If you are a new customer, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to
your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers and the first $5000 of a day’s total deposits of cashier’s, certified, teller’s,
travelers and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the
checks must be payable to you. The excess over $5000 will be available on the ninth (9) business day after the day of your deposit. If your deposit of these checks (other than a U.S.
Treasury check) is not made in person to one of our employees, the first $5000 will not be available until the second business day after the day of your deposit. Funds from all other check
deposits will be available on the ninth (9) business day after the day of your deposit.
COMMERCIAL SCHEDULE OF CHARGES
The highlighted fees are effective 04/01/2015.
Account activity printout
Account research
Account reference inquiry
Account closed within 6 months of opening
Cashier’s checks
Check printing
Checks – temporary
Collection items
Copies of statements or checks
Fax
Garnishments and Levies
Monthly returned mail fee
Overdraft fee – item paid
Overdraft fee – item returned
Automatic Overdraft Transfer
Phone transfers with bank personnel
Photocopies
TravelMoney card
Gift Card
Rejected items reposted
Returned (unpaid) deposit items
Safe deposit boxes
Safe deposit box drilled
ShazamChek Debit and ATM card replacement
Stop payments – including ACH payments
Stop payments – executed through Guaranty Bank On-line Banking
Wire Transfer – domestic incoming
Wire Transfer – domestic outgoing
Wire Transfer – international incoming
Wire Transfer – international outgoing
Your Account may be assessed the following fees.
$5.00 each
$25.00 per hour
$5.00 each
$15.00
$5.00
Depends on style of check ordered
$2.00 per 12 checks
$20.00 per item including foreign currency exchanges
$5.00 each
$2.00 per page
$75.00
$10.00 per month*
$30.00 for each debit or check paid
$30.00 for each debit or check returned
$5.00 per transfer between Guaranty Bank deposit accounts to cover overdrafts
$2.00 per transfer
$.25 per page
$9.95
$5.00
$2.00 per item
$10.00 per item
Rates vary according to size
Cost of drilling, lock and key replacement, and setting key to guard key
$10.00
$30.00 each
$15.00 each
$10.00 each
$20.00 each
$20.00 each
$50.00 each
*The monthly returned mail fee will be assessed after three statements are returned to us by the post
office as being undeliverable and we have not been provided with a forwarding address.
If any deposit account remains inactive (no debits or credits) for 6 months or more with a balance of $5
or less, the account will be assessed a $5 inactivity fee and closed.
02/23/2015
MEMBER FDIC