Hsbc Deposit Agreement

The Bank may refuse or delay the acceptance or delay of the availability of cheques drawn from banks outside the United States (including cheques drawn to hsbc`s foreign subsidiaries) and cheques drawn in foreign currency, convert the foreign cheque into USD and deposit it in cash or process such cheques on a collection basis. Whether your foreign cheque is converted or processed on a collection basis, you understand and agree that in the event of a return, you bear the entire foreign exchange risk. If you wish to avoid the risk of exchanging a returned item, you may request that the item be processed on a collection basis for the applicable fee. If a check drawn at a bank outside the United States uses a dollar sign („$”), but does not indicate that the check is drawn in U.S. dollars, it will be drawn and treated as a check in the currency of the country where the bank is located, by . B a cheque drawn at a Canadian bank. You will bear the costs associated with any adjustment that must be made if the cheque should have revealed that it was drawn in U.S. dollars, including exchange rate adjustments and fees charged by third parties as part of the adjustment against the Bank. You can avoid this risk by ensuring that the issuer of the item clearly identifies cheques payable in U.S.

dollars. The Bank`s Availability of Funds Policy does not affect your obligation to reimburse the Bank for cheques you deposit that you deposit and that are returned unpaid, nor does it limit the Bank`s right to refund your account or receive a refund for cheques that are not definitively paid for any reason. Cheque deposits not specified in this disclosure will be considered „other cheque deposits”. The first $225 of your „Other Cheque Deposits” will be available on the first business day following the day of your deposit. The balance of your „Other Cheque Deposits” will be available on the second business day following the day of your deposit. We recommend that you ensure that your accounts remain active so that you can take full advantage of your accounts and prevent your funds from being transferred to the state as abandoned property. At any time after the funds in the abandoned account have been returned to the appropriate State, the depositor (or any other person entitled to the funds) may claim this money from the State Administrator of the abandoned assets. A joint account may be held as tenants in common if, when opening the account, the co-owners conclude the bank`s agreement for the accounts held as tenants in common and determine the percentage of funds to be paid to the survivor(s) on the death of a co-owner. Until the bank receives notification of the death of a tenant, all funds in the account can be treated together without restriction as the property of each of the tenants. HSBC does not charge any fees when you send RTP payments from your HSBC customer account or receive RTP payments for credit to your HSBC customer account. However, HSBC reserves the right to do so at a later date, in which case hsbc will notify you prior to the collection of the fee.

Interest starts to accrue on the business day you deposit non-cash items (p.B cheques). If you close your account before the interest is credited, you will receive the accrued interest. The bank is not required to accept unjustified replacement cheques for payment or to cash a replacement cheque at the counter. Currency Transaction Reports If you make cash withdrawals, cash deposits, currency exchanges or other payments or cash transfers with cash over $10,000, the Bank is required to complete a foreign currency transaction report. Be sure to confirm all cheques and other items exactly as they are issued. The bank has the right to confirm the items you deposit into your account. The bank will return to your account all items returned for any reason, including irregularities or counterfeits. Call the branch that has your account (see the phone number on your monthly statement) or write to the branch at the address provided there so that we receive your request at least 3 business days before the scheduled payment.

If you call us, we may ask you to make your request in writing and send it to us within 14 days of your call. We will charge you the current stop payment fee (see Deposit „Disclosure of Terms and Fees”) for each stop payment you make. The Bank may change the interest rate on deposit accounts at any time at the Bank`s sole discretion. The bank will not change the interest rate on a fixed-rate CD during its term. We will not notify you of any price changes for variable rate accounts. Current rates are available at your branch. The bank can change the way it charges interest 30 days in advance. If you make the deposit in person to one of our employees using a special payment slip available upon request at a branch, funds from the following deposits will also be available on the first business day following the day of your deposit: After determining your account balance at the end of the day, we will deduct the amount of a deposit that is currently unavailable (see the Funds Availability section for more information) and deduct breakpoints (e.B. debit card authorizations) from the final amount of the day to determine your available balance and determine whether or not an overdraft fee will be charged.

If an error message relates to an EFT transaction that took place within 30 days of the first deposit into the account, the action period indicated above is 20 business days instead of 10 business days. If an error message relates to an EFT transaction that was not initiated in a state, territory or property of the United States, the District of Columbia, the Commonwealth of Puerto Rico or one of their political subdivisions; resulting from a debit card transaction at the point of sale; or that took place within 30 days of the first deposit into the account, the period indicated above for the review is 90 calendar days instead of 45 calendar days. .