Truth In Savings Disclosure

Contents


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Last Modified: December 7, 2017

Direct Deposit Account

Interest Rate Information:

This account does not earn interest.

Minimum Balance Requirement:

You must deposit $0.00 to open this account.

No minimum balance is required and there are no service charges on this account.

Transaction Limitations:

We reserve the right to delay the availability of funds for any deposits for a time period determined at our sole discretion.

All funds deposited to this account will be transferred to your Cash App upon receipt. This account will be a zero balance account. No withdrawals will be permitted other than the transfer to the Cash App. Please refer to:

  1. Square General Terms of Service: https://squareup.com/legal/ua,

  2. Additional Cash Terms of Service: https://squareup.com/legal/cash-ua,

  3. Virtual Card Agreement: https://squareup.com/legal/virtual-card-agreement.

This account only receives e-statements. This account is for electronic transactions only. No checks can be written on the account nor can non-electronic checks be deposited into the account. Only ACH credits will be accepted. Only transfers to your Cash App are allowed.

You must be a resident of the United States and at least 18 years of age.

Lincoln Savings Bank
508 Main, PO Box E
Reinbeck, IA 50669
Member FDIC


TERMS AND CONDITIONS

Cash App Product

Last Modified: December 7, 2017

INTRODUCTION

Welcome to Lincoln Savings Bank and its Bank products and services. Bank Accounts may only be opened via the mobile application. You must have the hardware and software required for you to open and access your Bank Accounts, as described in our Square E-Sign Consent, and otherwise agree to the terms of that agreement as part of your account-opening.

This Personal Banking Disclosure and Agreement for Bank Products (hereinafter referred to as the “Agreement”) is our disclosure brochure and constitutes part of the agreement between you and us. When you open an account via the mobile application (a “Bank Account”) you agree to the terms and conditions described in this Agreement, as well as to the terms and conditions set forth in the applicable: (i) Truth in Savings Disclosure;; and (ii) Electronic Funds Transfer, all of which are available as part of your account-opening process. These additional documents (hereinafter referred to as the “Additional Disclosures”) constitute an addendum to this Agreement.

Your and our rights and obligations under this Agreement, including the Additional Disclosures and Additional Terms and Conditions, are governed by and interpreted according to state and federal law. The laws of the state of Iowa govern this Agreement, unless applicable laws provide otherwise. If a clause of this Agreement is declared null and void or illegal, then the remaining provisions will maintain their full force and effect.

Please read this Agreement and the Additional Disclosures and the Additional Terms and Conditions carefully and keep them for your records.

Lincoln Savings Bank (the “Bank,” “we,” “us” or “our”) is the issuer of your Bank Account. Lincoln Savings Bank is an FDIC-insured institution that has branches and operates in state of Iowa. Funds will be held at the Bank or at another FDIC insured institution. The products and services available and the fees and terms applicable to them may differ from state to state. Throughout this Agreement, the words “you,” “your,” “yours” and “Account Owner” each refer to the Bank Account owner or owners. Any reference to “days” in this Agreement signifies calendar days unless otherwise noted as “business days.”

ARBITRATION

This Agreement contains an Arbitration Provision beginning on page 2 which also applies to the Additional Terms and Conditions. Within forty-five (45) days after the date we open your Bank Account, or, if you are an existing customer and we are asking you to enter into a new deposit agreement, within forty-five (45) days after we provide you the new agreement, you may elect to reject the Arbitration Provision. Unless you do so to the extent permitted by applicable law, the Arbitration Provision will have a substantial impact on how any legal claims we have against each other are resolved if either you or we elect arbitration. For example, disputes subject to arbitration are decided by a neutral arbitrator and not a judge or jury. Also, if you or we elect arbitration, neither you nor we will have the right to participate in a class action, either in court or in arbitration.

GENERAL TERMS RELATING TO BANK ACCOUNTS AND SERVICES

Access Devices

Bank Accounts may only be accessed via your mobile device and/or through ACH authorizations that you have provided to us or to your payors. There is no cash access at ATMs and there are no checks or ATM or debit cards linked to Bank Accounts.

Account Ownership

The types of accounts that we offer are limited to, the following:

A SINGLE (INDIVIDUAL) ACCOUNT – An account in the name of only one person. Funds in the account may be paid only to or on the order of that individual, or someone to whom that individual has given a power of attorney, or as otherwise may be required or permitted by law.

Unless we have actual or written knowledge of the existence of a dispute between, or death or incompetency of, depositors, beneficiaries, payees or other persons claiming an interest in funds deposited in an applicable Bank Account, all payments made by us from such account at the request of any depositor to such account, and/or the agent of any depositor to such account, in accordance with the terms of this Agreement shall constitute a complete release and discharge of the Bank from all claims for the amounts so paid whether or not the payments are consistent with the actual ownership of the funds deposited in a Bank Account by a depositor and/or the beneficiaries and payees of said account, and/or their heirs, successors, personal representatives and assigns.

Accounts Presumed to Be Abandoned/Dormant Accounts

If you have not made a withdrawal from, or deposit to, your Bank Account for three (3) years and we have been unable to contact you, your Bank Account may be classified by us as “dormant.” Additionally, in instances where you have not communicated with us, as provided by applicable law or regulation, your Bank Account may be deemed “abandoned.” State and federal law and Bank policy govern when deposit accounts are considered “inactive,” “dormant” or “abandoned.” The applicable state law to determine abandonment will be the law of the state of the Account Owner’s last known address. If this information is not known to us or if you have a foreign address, then we will follow the laws of our state of incorporation, Iowa.

If your account is dormant, the bank may close the account and send a cashier’s check to the last known address or deposit funds back to the external funding source.

For certain purposes, automated transactions (for example, automated transfers between your accounts) may not be considered activity for this purpose, even if your balance changes. In addition, bank charges or interest payments are not considered activity affecting the balance in your Bank Account.

In accordance with applicable state law, funds in dormant, inactive and/or abandoned accounts will be remitted to the custody of the applicable state agency, and we will have no further liability to you for such funds. The Bank may, at its option, attempt to contact you prior to remittance of funds to the applicable state and will attempt to do so if required by applicable law. Once remitted, you must apply to the appropriate state agency to reclaim your funds.

After the funds on deposit have been remitted to the state, the Bank Account is closed and the interest does not continue to accrue on any interest-bearing account. The fact that you have an active Bank Account with us does not keep your other Bank Accounts active.


Arbitration Provision

Tothe extent permitted under applicable law—and if you do not reject this Arbitration Provision—you and we agree that either party may elect to arbitrate—and thus require the other party to arbitrate—any “Claim” under the following terms and conditions.

1. RIGHT TO REJECT

You may reject this Arbitration Provision by mailing a signed rejection notice to:

Arbitration Administrator Lincoln Savings Bank
Attn: Compliance
3254 Kimball Avenue
Waterloo, Iowa 50702

within forty-five (45) days after the date we open your Bank Account, or, if you are an existing customer and we are asking you to enter into a new deposit agreement, within forty-five (45) days after we provide you the new agreement. Any rejection notice must include your name, address, telephone number and account number.

IMPORTANT WAIVERS: YOU AND WE BOTH HAVE SELECTED ARBITRATION AS AN ALTERNATIVE FORUM, WHICH MEANS THAT YOU HAVE NO RIGHT TO: (i) HAVE A COURT OR A JURY DECIDE THE CLAIM; (ii) PARTICIPATE IN A CLASS ACTION IN COURT OR IN ARBITRATION, WHETHER AS A CLASS REPRESENTATIVE, CLASS MEMBER OR OTHERWISE, OR ACT AS A PRIVATE ATTORNEY GENERAL IN COURT OR IN ARBITRATION (THE “CLASS ACTION WAIVER”); (iii) JOIN OR CONSOLI- DATE CLAIM(S) WITH CLAIMS INVOLVING ANY OTHER PERSON; OR (iv) OBTAIN INFORMATION EXCEPT AS PROVIDED HEREIN. OTHER RIGHTS ARE MORE LIMITED IN ARBITRATION THAN IN COURT OR ARE NOT AVAILABLE IN ARBITRATION.

2. DEFINITIONS

In this Arbitration Provision, the following definitions will apply:

“We,” “us” and “our” means not only the Bank but also its parents, subsidiaries and affiliates; any predecessors, successors and assigns of these entities; and all officers, directors and employees thereof. “We,” “us” and “our” also include any party named as a co-defendant with us in a Claim asserted by you, such as credit bureaus, and check verification services.

“Administrator” means, as applicable, the American Arbitration Association (the “AAA”), 335 Madison Avenue, New York, NY 10017, www.adr.org, 1-800-778-7879, or JAMS, 1920 Main Street, Irvine, CA 92614, www.jamsadr.com, 1-800-352-5267, or if the AAA and JAMS cannot or will not serve, an arbitration administrator agreed-upon by the parties or appointed by a court, provided that the Administrator must not have in place a formal or informal policy that is inconsistent with and purports to override the terms of this Arbitration Provision. You may select the Administrator when you give written notice of an election to arbitrate a Claim or within twenty (20) days after we give such written notice. Otherwise, we will select the Administrator.

“Claim” as used herein means any legal claim, dispute or controversy between you and us that arises from or relates in any way to this Agreement or the applicable Bank Account including: (i) this Arbitration Provision; (ii) the fees or charges we or other parties impose in connection with this Agreement or the applicable Bank Account or the other provisions of this Agreement; (iii) the interest, if any, paid on the applicable Bank Account; (iv) any application, disclosure or other document relating in any way to this Agreement; (v) any service or product offered or made available by or through us in connection with this Agreement, including those subject to Additional Disclosures or Additional Terms and Conditions, and any associated fees, charges, terms or disclosures; and (vi) any documents, instruments, advertising or promotional materials that contain information about this Agreement or applicable Bank Account, or any other such service or product. “Claim” includes, without limitation, disputes concerning the validity, enforceability, arbitratability or scope of this Arbitration Provision or this Agreement, disputes involving alleged fraud or misrepresentation, breach of contract, negligence or violation of statute, regulation or common law; and disputes involving requests for injunctions or other equitable relief. However, “Claim” does not include: (a) any individual action brought by you in small claims court or your state’s equivalent court, unless such action is transferred, removed or appealed to a different court; (b) any challenge to the validity and effect of the class action waiver, which must be decided by a court; or (c) any exercise by us of our right to off-set against the amounts that you owe us with the amounts that you have on deposit with us or any proceeding brought by you to enjoin the exercise of such right.

3. STARTING ARBITRATION

To initiate arbitration, you or we must give written notice of an election to arbitrate. This notice may be given after a lawsuit has been filed and may be given in papers or motions filed in the lawsuit. If such a notice is given, then the Claim shall be resolved by arbitration under this Arbitration Provision and the applicable rules of the Administrator then in effect. The arbitrator will be selected under the Administrator’s rules, except that the arbitrator must be a lawyer with at least ten (10) years of experience or a retired judge, unless you and we agree otherwise.

4. LOCATION AND COSTS

Any arbitration hearing that you attend will take place in a location that is reasonably convenient to you. We will consider (and generally honor) any good faith request to bear the fees charged by the Administrator and the arbitrator(s). The losing party must pay the expense of the prevailing party’s attorneys, experts and witnesses and, if we lose, we will also pay all fees charged by the Administrator and the arbitrator(s) as well as all reasonable fees of your attorneys. In all cases, we will pay all fees and costs (including attorneys’ fees) that we are required to bear under applicable law or court order.

5. DISCOVERY; GETTING INFORMATION

Either party may obtain from the other party prior to the arbitration hearing any information available under the Administrator’s rules or any information that the arbitrator determines should be made available.

6. EFFECT OF ARBITRATION AWARD

Any court with jurisdiction may enter judgment upon the arbitrator’s award. The arbitrator’s award will be final and binding, except for: (i) any appeal right under the Federal Arbitration Act, 9 U.S.C. §§1 et seq. (the “FAA”); and (ii) Claims involving more than $50,000. For Claims involving more than $50,000, any party may appeal the award to a three-arbitrator panel appointed by the Administrator, which will reconsider de novo any aspect of the initial award that is appealed. The panel’s decision will be final and binding, except for any appeal right under the FAA. Except as provided above, the appealing party will pay the Administrator’s and arbitrator’s costs associated with the appeal.

7. GOVERNING LAW

This Arbitration Provision is made pursuant to a transaction involving interstate commerce and shall be governed by the FAA, and not by any state law concerning arbitration, provided that the law of Iowa (the state where we are chartered) shall be applicable to the extent that any state law is relevant in determining the enforceability of this Arbitration Provision under Section 2 of the FAA. The arbitrator shall follow applicable substantive law to the extent consistent with the FAA, applicable statutes of limitation and applicable privilege rules, and shall be authorized to award all remedies permitted by applicable substantive law, including, without limitation, compensatory, statutory and punitive damages (subject to constitutional limits that would apply in court), declaratory, injunctive and other equitable relief, and attorneys’ fees and costs. Upon the timely request of either party, the arbitrator shall write a brief explanation of the basis of his or her award. The arbitrator will follow rules of procedure and evidence consistent with the FAA, this Arbitration Provision and the Administrator’s rules.

8. SURVIVAL, SEVERABILITY, PRIMACY

This Arbitration Provision shall survive closure of your Bank Account; our sale or transfer of our rights under this Agreement; any legal proceeding or setoff to collect a debt owed by you; or any bankruptcy or insolvency. If any portion of this Arbitration Provision cannot be enforced in a proceeding between you and us, then the rest of the Arbitration Provision will continue to apply, provided that the entire Arbitration Provision shall be null and void if the class action waiver is held to be invalid regarding any class or representative Claim in a proceeding between you and us, subject to any right to appeal such holding. In the event of any conflict or inconsistency between this Arbitration Provision and the Administrator’s rules or this Agreement, this Arbitration Provision will govern.

9. BREACH OF ARBITRATION AGREEMENT

If either party fails to submit to arbitration following a proper demand to do so, then that party shall bear all costs and expenses, including reasonable attorneys’ fees, incurred by the other party in seeking to compel arbitration.


Authorization to Contact You about Your Account

By providing us with your home telephone number, cellular telephone number or other telephone contact information, you authorize us to contact you (1) in response to a direct inquiry from you, or (2) in the event we need to gather information from you to respond to an inquiry (a) in compliance with applicable law, or (b) from a third party authorized by you.

Change of Address/E-mail Address

Changes should be made by updating your profile on the mobile app.

Changes to Agreement

We may change, amend or supplement this Agreement at any time as allowed by applicable law. You may be bound by these changes, with or without notice, as the case may be and as allowed by applicable law. For additional information please see Notices Section.

Circumstances beyond Our Control

We will not be liable to you if circumstances beyond our reasonable control prevent us from, or delay us in:

–Crediting a funds transfer to your Bank Account.
–Processing a transaction.
–Crediting your Bank Account.
–Performing our obligations for a service.

Circumstances beyond our reasonable control include, but are not limited to: any natural disaster, such as an earthquake or a flood; emergency conditions, such as a war, event of terrorism, riot, fire, theft or labor dispute; a legal constraint or governmental action or inaction; the breakdown or failure of our equipment; the breakdown of any private or common carrier communication or transmission facilities, any time-sharing supplier and any mail or courier service; or your act, omission, negligence or fault.

Collection Expenses

You agree to pay our reasonable expenses, including attorneys’ fees, incurred in collecting any amounts owed by you under, or in enforcing, the provisions of this Agreement.

FDIC Insurance

The Federal Deposit Insurance Corporation (“FDIC”), an agency of the United States government, insures funds in your Bank Accounts at the Bank. Bank is a Member of the FDIC. Deposits at FDIC insured institutions are now insured up to at least $250,000 per depositor, per ownership category. FDIC insurance applies only to accounts held in the United States and its territories and possessions. For details, please refer to the brochure published by the FDIC or visit the FDIC website at www.fdic.gov.

PLEASE NOTE THAT ONCE FUNDS ARE TRANSFERRED OUT OF YOUR BANK ACCOUNT TO THE SQUARE CASH APP, THEY ARE NO LONGER INSURED.

Funds Availability

The Funds Availability Schedules of the Bank are provided in separate disclosures. These schedules may be changed from time to time. We will provide you with notifications of these changes as required by law.

How to Contact Us with Comments or Concerns

We encourage you to contact us if you have any comments or concerns about your Bank Account. Please write to us at:

Lincoln Savings Bank
Attn: Complaint Department
3254 Kimball Avenue
Waterloo, IA 50702

Or call us at:
319-233-1900

If you cannot resolve an issue, you may contact:

Consumer Financial Protection Bureau
1700 G Street NW
Washington, DC 20006
Phone: (202) 435-7000

We may accept and comply with any writ of attachment, execution, garnishment, tax withhold order or other levy, subpoena, warrant, injunction, restraining order, government agency request for information or other legal process relating to your Bank Account which we believe (correctly or incorrectly) to be valid and binding regardless of the location of the Bank or method of service on the Bank even if the law requires personal service at the branch of record or other specified location for your Bank Account or where the records are stored (but we reserve the right to require service at such location as may be required by law). We may, but are not required to, give you notice of any such legal process except as required by law and will not do so if prohibited by law. A legal processing fee, hourly research fee, and copy charges may be assessed unless prohibited by law. This fee is in addition to any fee collected from the party serving the legal process. In responding to a search warrant or other legal process from a city, county, state or federal law enforcement or other agency, we may produce documents or provide access to property located in any Bank storage or other facility, including facilities owned and operated by third parties maintaining such records on our behalf, even if such facility is not designated as the place to be searched in the search warrant or legal process. If we are required to pay any attachment, garnishment, writ, levy or other legal process related to your Bank Account, then we may debit your Bank Account even if such creates an overdraft. If we incur any expenses, including without limitation research, photocopy, handling and administrative costs and reasonable attorney’s fees, in responding to an attachment, garnishment, writ, levy or other legal process that is not otherwise reimbursed, then we may charge, in addition to other amounts set forth herein, such expenses to your Bank Account without prior notice to you.

Notices

Notices will be provided to you via the mobile application.

Privacy Policy

Please refer to the Bank Privacy Notice that is provided.

Restrictions on Accounts and Services/Right of Refusal and Termination of Account

We reserve the right to refuse to open any Bank Account or to service or to accept additional deposits to an existing Bank Account, or to comply with any instruction or request that you make. We may terminate your Bank Account or other relationship with us at any time and without notice. We reserve the right to terminate, freeze or restrict a Bank Account at any time.

We may terminate your Bank Account by mailing you a notice (prior to or immediately after closing the applicable Bank Account if and as required by law). Any transactions presented to us subsequent to such termination may be returned unpaid. You agree that the Bank shall have no liability for transactions dishonored after the effective date of termination. If closure of your Bank Account is due to a negative balance condition, the Bank may report this condition to applicable consumer reporting agencies.

If you should choose to close your Bank Account, navigate through the Support functionality in the app and follow in–app instructions to take such actions.

NOTICE OF NEGATIVE INFORMATION

We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

Statements and Notices

Our account statements and notices are in English. Your statements will be available electronically at Cash.me.

Unlawful Internet Gambling

We will not open or maintain Bank Accounts that engage in unlawful Internet gambling. The Federal Reserve Regulation GG, which was issued under the Unlawful Internet Gambling Enforcement Act, prohibits business customers from receiving deposits of any kind relating to illegal Internet gambling. Restricted transactions, as defined by this regulation, are prohibited from being processed through such account or relationship.

Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful internet gambling. Your Bank Account(s) may not be utilized to process unlawful internet gambling transactions specifically restricted by local, state or federal law. We reserve the right to decline all internet gambling transactions, and to terminate any relationships where these transactions are identified.

By opening a Bank Account, you certify that any such account is not used in connection with unlawful internet gambling within the meaning of the Federal Reserve Regulation GG. Further, you agree to notify the Bank in writing immediately if any of your Bank Accounts are used in connection with such activities in the future.
If you do engage in Internet gambling, then you will be required to provide documentation that the activity is legal as per local, state or federal law.

Using a Bank Account for Business Purposes

Bank Accounts are intended for consumer purposes only. If you use a Bank Account for business purposes, then we may elect to close the account in our sole discretion.

Verification of Your Identity

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 a Bank Account.

What this means for you: When you open a Bank Account, we will ask you to enter your legal name, address, date of birth, and other information that will allow us to identify you. We may also ask to for your government issued identification number (e.g., driver’s license) or other identifying document information.

RULES AND REGULATIONS APPLICABLE TO BANK ACCOUNTS

DEPOSITS INTO BANK ACCOUNTS

Deposits to your Bank Account(s) must be made electronically via:

–ACH transactions from external accounts and third parties,
–preauthorized ACH credits (by your employer or other payor whom you have authorized to deposit funds in your Bank Account).

Upon our receipt of the deposit, we will process the deposit in our usual manner of processing bank deposits. We will provisionally credit the deposit to your Bank Account(s) as of the banking day on which we receive the deposit. All deposits provisionally credited are subject to further verification and correction as provided elsewhere in this Agreement.

Deposits of Government Payments

If we are required to reimburse the government (state or federal) for all or any portion of any benefit or other payments deposited into your Bank Account(s) for any reason, you agree that we may, without prior notice to you, deduct the amount returned to the government from your account or from any other account you have with us, unless the deduction is prohibited by law. If the funds in your Bank Account(s) are insufficient to reimburse us fully, you are severally liable to us for the balance. We are not responsible for any payment that is credited or not credited to your Bank Account(s) as a result of the error or negligence of the government.

Identifying the Account

You must correctly identify the applicable Bank Account to which you want funds deposited. You are responsible for any claim, costs, loss or damage caused by your failure to properly identify the applicable Bank Account to which a deposit is made or intended to be made.

Returned Deposits

If your deposit is returned to us for any reason and at any time, we may debit your Bank Account for the amount of the deposit. We may debit your Bank Account for a returned item after the earlier of either the day it is returned to us by electronic or other means, or the day we receive notice that the item is being returned to us. Furthermore, if a deposit in your Bank Account has been paid by the financial institution on which it is drawn and that institution later returns it to us claiming that it was unauthorized or should not have been paid for any other reason, we may debit your Bank Account for the amount of the return. We will resubmit any returned deposits for payment.

If you have insufficient funds to cover a returned item, we may overdraw your Bank Account. In the event that we honor an item that is not a check or an item which creates an overdraft in the applicable Bank Account, you agree to deposit sufficient funds to cover the overdraft You also agree to reimburse us for any costs incurred in the collection of the overdraft including, without limitation, attorneys’ fees and litigation expenses authorized by law.

TRANSACTIONS AND WITHDRAWALS

Your Bank Account is linked to the Cash App and its sole purpose is to facilitate the transfer of funds via ACH to your Cash App. The following diagram (for illustrative purposes only) explains how your Bank Accounts is utilized in connection with the Cash App:

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Account Processing Order

All funds deposited to the account will be transferred to your Cash app upon receipt via ACH transfer. This account will be a zero balance account. No withdrawals will be permitted other than the transfer to the Cash App. We may change the order on how we process debits and credits at any time without notice to you, unless otherwise required by applicable law.

We process credits, debits and withdrawals in the following group order:

First: All deposits and credits to your Bank Account will post.

Second: The following items will post in the order in which each is authorized/received: withdrawals, government debits, adjustments, and returned deposits.

Third: Pre-authorized ACH debits whether one-time or recurring will post in the order received by us. When multiple ACH debits are received, they are posted in the order received.

For more information on overdrafts, see the Section of this Agreement entitled Non-Sufficient Funds/Overdrafts .

Note: The balance reflected in your Bank Account when you check it online or through your mobile device may differ from your records due to deposits in process, withdrawals and outstanding debits and because of our processing order.

Non-Sufficient Funds/Overdrafts

An overdraft occurs when at the end of the business day we determine that your Bank Account does not have enough available funds to cover a transaction. Because the Bank Account is a zero balance account, that is, received funds are contemporaneously transferred to the Cash app, The payment of transactions into overdraft is at our sole discretion and we reserve the right not to pay any request: for instance, if your Bank Account is no longer in good standing or if excessive overdrafts have occurred in your Bank Account.

If we pay the request, we require that you promptly deposit sufficient funds to bring your Bank Account balance positive.

Additional information and other fees that may apply to your Bank Account are described in the Truth In Savings Disclosure.

Automated Clearing House (“ACH”) Transactions

Credit given by us to you with respect to an ACH credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, then you are hereby notified and you agree that we are entitled to a refund of the amount credited to you in connection with the entry, and the party making payment to you (i.e., the Originator of the entry) will not be deemed to have paid you the amount of such entry.

Under the Operating Rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your Bank Account, we are not required to give next-day notice to you of receipt of an ACH item, and we will not do so. However, we will continue to notify you of the receipt of payments in periodic statements that we provide to you.

Please see the Electronic Funds Transfer Agreement for additional information.


**ELECTRONIC FUND TRANSFERS

**YOUR RIGHTS AND RESPONSIBILITIES

Last Modified: December 7, 2017

(1) Consumer Liability

(a) Generally. Tell us AT ONCE if you believe your account information has been lost or stolen, or if you believe that an electronic fund transfers has been made without your permission using information from your account. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account. If you tell us within 2 business days after you learn of the loss or theft of your account information, you can lose no more than $50 if someone used your account without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your account information and we can prove we could have stopped someone from using your account information without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was delivered to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call: 855-949-7782 or write: Square, Inc., Attn: Cash App, 4320 Forest Park Ave. Suite 200, St. Louis, MO 63108.

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your account without your permission.

(c) Business days. For purposes of these disclosures, our business days are Monday through Friday. Holidays are not included.

(d) Transfer types and limitations Account access. You may use your account to receive funds, which are thereafter transferred to your non-FDIC insured Cash App as outlined below:

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(e) Confidentiality. We will disclose information to third parties about your account or the transfers you make:

(i) Where it is necessary for completing transfers, or

(ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or

(iii) In order to comply with government agency or court orders, or

(iv) If you give us your written permission.

(2) Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at 855-949-7782 to find out whether or not the deposit has been made.

(3) Periodic statements. Monthly statements will be delivered electronically through the app.

(4) Preauthorized payments.

(a) Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here’s how:

Call us at 855-949-7782, or write us at Square, Inc., Attn: Cash App, 4320 Forest Park Ave. Suite 200, St. Louis, MO 63108, in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. We will charge you a fee for each stop-payment order you give. See current Fee Schedule for additional details.

(b) Notice of varying amounts. If these regular payments 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.)

(c) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

(i) Financial institution’s liability. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

(1) If, through no fault of ours, you do not have enough money in your account to make the transfer.

(2) If the automated teller machine where you are making the transfer does not have enough cash.

(3) If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.

(4) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

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

Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers Telephone us at 855-949-7782 Write us in care of Square, Inc., Attn: Cash App, 4320 Forest Park Ave. Suite 200, St. Louis, MO 63108 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

(1) Tell us your name and account number (if any).

(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

(3) Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Lincoln Savings Bank
PO Box E
Reinbeck, IA 50669
Business Days: Monday through Friday
Excluding Federal Holidays

YOUR ABILITY TO WITHDRAW FUNDS

Last Modified: December 7, 2017

This policy statement applies to all full service transaction accounts.

Your Ability To Withdraw Funds

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

Please remember that even after we have made funds available to you and you have withdrawn funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your 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 on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

If you make a deposit at an ATM before 6:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit at an ATM after 6:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

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 circumstances:
– We believe a check you deposit will not be paid.
– You deposit checks totaling more than $5,000 on any one day.
– You redeposit a check that has been returned unpaid.
– You have overdrawn your account repeatedly in the last six months.
– There is an emergency, such as failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.

Special Rules 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 $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, 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 (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth 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 $5,000 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 tenth business day after the day of your deposit.

Lincoln Savings Bank
PO Box E Reinbeck, IA 50669
319-788-6441 or 800-588-7551

Member FDIC

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

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


Privacy Policy

Last Modified: December 7, 2017

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