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Terms and Conditions

Important Information about Your Account

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TERMS AND CONDITIONS OF YOUR ACCOUNT AGREEMENT

EffectIVE Date – [Apr 10, 2008]

This Agreement, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us, as well as our relationship with any other owners or signers on the account(s). Please read this carefully and retain a copy for your records. If you sign the signature card or open or continue to have your account with us, you agree to these rules. Our deposit relationship with you is that of debtor and creditor, and neither this Agreement nor our deposit relationship create any fiduciary, quasi-fiduciary or special relationship. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this Agreement. If you have any questions, please call us.

Your account(s) with us and this Agreement are subject to applicable federal laws and, to the extent applicable and not otherwise preempted by federal law, the laws of the state of Illinois (except to the extent that this Agreement can and does vary such laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this Agreement is to:

  1. Summarize some laws that apply to common transactions, account maintenance and usage;
  2. Establish rules to cover transactions or events which the law does not regulate;
  3. Establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
  4. Give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document.

As used in this Agreement the words "we," "our," and "us" mean the American Home Bank, a federal savings bank (and, as appropriate, its affiliates), and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this Agreement are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this Agreement should be construed so the singular includes the plural and the plural includes the singular.

LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this Agreement, the Disclosures, and the Other Services/Fees Services as it may be amended herein or   as provided under separate cover (“Fee Schedule”). You authorize us to deduct these charges consistent with this Agreement and the Fees Schedule directly from the account balance as accrued. Additionally, you will pay any additional reasonable charges for services you request which are not covered by this Agreement or the Fee Schedule.

Whether or not such fees are reflected in this Agreement or the Fee Schedule, some business accounts may be charged a Federal Deposit Insurance Corporation assessment based on the rate charged to us by the Federal Deposit Insurance Corporation. Such assessment may include deposit insurance charges, financial corporation bond interest and other charges provided by law.

If the account is a joint account, each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whether or not sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. This includes liability for our costs to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees.

CONTROLLING TERMS - If there is a conflict between information stated in any of our agreements or documents (including this Agreement) and something said by one or more of our employees, we will adhere to the written information. We may refuse to follow any instructions from you that we believe will expose us to potential liability under law or regulations. We may require adequate security to protect us from any potential loss and expense or actual loss and expense incurred in following any instructions from you.

WAIVER - We may, in our sole discretion, waive any of rules set forth in this Agreement. However, such waiver will only apply to that occasion and will not bind us in the future.

NOTICES AND CHANGE OF ADDRESS - Any notice that you want to provide to us should be in writing and signed with the same signature that we have on file for you. You may deliver such notice in person or by mail.

The following terms apply to notices relating to your account. You must mail, or deliver during normal business hours all notices that are requested by this Agreement or by law to us at the branch or office that holds your account and any other address we specify. If you have multiple accounts or services, you may have to send notices to more than one branch or office address. You agree that the terms and conditions of this Agreement, including without limitation all rates, fees, and charges set forth in the Fee Schedule, may be periodically amended by us. We will notify you of amendments as required by applicable law or this Agreement. We may include notices with your account statements and may post notices online or at any of our branches or offices.

Mail addressed to you at the address shown in our records shall be deemed properly addressed and effective three business days after mailing. Your continued use of the account also evidences your agreement to any amendment. It is your responsibility to notify us of any change in your address or name. With respect to joint accounts, notice from us to any one of you is notice to all of you.

DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us". Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our “daily cutoff time” on a normal business day (defined as Monday through Friday, 9 am to 5 pm, excluding holidays as defined by the Federal Reserve Bank), or received on a day we are not open for business, as if initiated on the next business day that we are open. We reserve the right to charge back your account for any item returned to us unpaid. If an item is returned to us unpaid due to an unauthorized endorsement or alteration, we may place a hold on your account until we make final determination as to that claim.

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 or State Government for any reason, you authorize us to deduct the amount of our liability to the Federal or State 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. We do not charge for direct deposits to any type of account.

WITHDRAWALS - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs in the space designated for signatures on the signature card may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to endorse any item payable to you or your order for deposit to this account or any other transaction with us. We may charge your account for a check even though payment was made before the date of the check (a.k.a. “postdating”). We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later. See the funds availability policy disclosure 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. We may refuse a withdrawal request if we have received a court order or if the law prohibits withdrawal, if there is a dispute concerning the account, if the account owner owes us money that is due and payable, if the account is security for a debt or if a problem occurs with our equipment.

We may require 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Federal Reserve Board Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal. Certain cash withdrawals may be subject to Bank Secrecy Act reporting provisions. We may take as much time as necessary to determine the validity of any withdrawal request or order to pay and identify the person presenting it.

WRITING CHECKS AND POST-DATED CHECKS – You agree not to write postdated checks (a check that is dated in the future) on your account. We can assume that all checks presented are payable on demand and we will not be liable to you for paying a postdated check prior to its date. If you provide your account number and our routing number to someone for the purchase of goods or services and they use that information to withdraw funds from your account, we will deem that withdrawal authorized by you. If you authorize someone else to withdraw funds from your account, by check or otherwise, we will not be liable to you for paying these withdrawals even if the amount of any withdrawal or number of withdrawals exceeds your authorization.

STALE DATED CHECKS – We are not obligated to, but may, in our sole discretion, pay a check, other than a certified check, presented for payment more than six months after its date. If you do not want us to pay a stale-dated check, you must place a stop-payment order on the check in the manner we have described elsewhere in this Agreement.

PAYMENT ORDER OF ITEMS - The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you write. When processing items drawn on your account, our policy is to pay them according to the dollar amount. We pay high items first and low items last. The order in which items are paid is important if there is not enough money in your account to pay all of the items that may result in an overdraft or NSF fee. If an item is present without sufficient funds in your account to pay it, we may, in our sole discretion, pay the item (creating an overdraft) or return the item as NSF. A fee will be assessed for each day your account remains overdrawn, this charge is in addition to any insufficient or unavailable funds fees assessed. The amounts of the overdraft and NSF fees are disclosed in this Agreement or separately in the Fee Schedule. We encourage you to maintain careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds. We may determine ownership of accounts from information in our records and may rely on information you give us. Changes you ask us to make to your account are not effective until we have had reasonable time to act on your instructions. Ownership of an account cannot be changed by will.

  • Individual Account - is an account in the name of one person.
  • Joint Account - With Survivorship (And Not As Tenants In Common) - is an account in the name of two or more persons. Each of you intend that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.
  • Joint Account - No Survivorship (As Tenants In Common) - is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person. We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you. This information will not, however, affect the "number of signatures" necessary for withdrawal.
  • Revocable Trust or Pay-On-Death Account - Pay-On-Death accounts may be created only if the account is owned by one person. Revocable Trust accounts may be created as accounts with one or more owners. If two or more of you create a Revocable Trust account, you own the account jointly with survivorship. Beneficiaries of either of these account types cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of the owner(s) of the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating either a Pay-On-Death or Revocable Trust account reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.

BUSINESS ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. We may require the governing body of the legal entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity.

STOP PAYMENTS - You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee. We may, in our sole discretion, honor any payment that does not meet the exact information set forth in your stop payment order.

You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item. A release of the stop-payment request may be made only by the person who initiated the stop-payment order.

Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item). You may only stop payment on a cashiers check if it has been lost, stolen or destroyed. Stop payments take effect when imposed on your account and are in effect for six months. There will be a service charge for every stop payment request received, consistent with the Fee Schedule.

TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a money market deposit account or savings account to another account or to third parties, to a maximum of six per statement cycle (less the number of "preauthorized transfers" during the statement cycle). Other account transfer restrictions may be described elsewhere in this Agreement or other materials provided to you in reference to your account.

AMENDMENTS - We may change any term of this Agreement or the Fee Schedule. If a change will reduce the annual percentage yield on your account or adversely affect you, we will generally give you notice before the effective date of the change. This notice requirement does not apply to a charge in the interest rate and annual percentage yield on variable rate accounts. Any such notification will be effective if mailed to the address of the account in our records. You agree to provide us a current address to which all correspondence will be addressed. If any notice is returned to us as undeliverable, the changes described in that notice are still binding on you. When there is any other change to the information disclosed in this Agreement, we may post a notice online or in our branches or we may notify you by mail.

If you disagree with any change to this Agreement, whether subject to specific notice or not, you may terminate your account. If you continue to use the account, however, you accept and agree to the change. The current version of this Agreement, as it may be amended from time to time, supersedes all prior versions.

TERMINATION – You may close your account at any time by notifying us in writing during normal business hours and by no longer using your account, provided the funds on deposit are not being held as a result of legal action or uncollected deposited checks. If the account is a time deposit account, there may be a penalty for withdrawals made prior to the maturity date.

We may terminate this Agreement and close your account at any time by giving you notice a reasonable time before the effective date of such termination and closure. Notwithstanding the foregoing, you agree that we may close your account without advance notice under certain circumstances such as, for example, we believe in good faith that your account is being used to facilitate a fraud or other crime. Regardless of the manner in which an account is closed and by whom, account closing will not affect your obligations under this Agreement even if we allow any transactions to be completed after the account has been closed and this Agreement has been terminated. You will remain responsible for any fees you incur on your account and any outstanding items and overdrafts. If you close your account during a statement period, you may not receive interest that has accrued but has not been credited, if any.

STATEMENTS -You must examine your statement of account with " reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of 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 to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you. You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, or any other errors in your account within 60 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 60-day limitation is without regard to whether we used ordinary care.

For accounts with American Home Online Banking access, online statements are available for up to 12 months of account activity. For all other accounts, monthly hard copy (paper) statements are available. American Home Online Banking customers may also choose to have statements mailed each month. There may be a charge of $5.00 to have hard copy (paper) statements mailed each month, depending on the type of account. There is no charge for online statements, if you are an American Home Online Banking customer. Please refer to Truth-In-Savings disclosure for the types of statements available and the charges on your account.

ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.

TEMPORARY ACCOUNT AGREEMENT - If this option is permitted in our soul discretion, this Agreement is a temporary account agreement. This means that all account owners have not yet signed the signature card or that some other account opening requirement has not been completed. We may give you a duplicate signature card so that you can obtain all of the necessary signatures and return it to us. Each person who signs in the space designated for signatures on the signature card (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

SET OFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, including overdrafts, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, " any due and payable debt " includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note.

This right of setoff does not apply to this account if: (a) it is an IRA or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal only arises in a representative capacity, (d) it is a tenant security account, or (e) it is any other account exempted by law. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set off.

LEGAL CLAIMS – If you or your account become involved in a legal proceeding, access to the account may be restricted, and we will impose a fee for responding to legal orders. In the event of a dispute over access to or ownership of your account, we may choose not to act until we receive a court order, indemnification acceptable to us, or a release acceptable to us signed by all parties to the dispute. We may deduct from your account any expenses (including attorneys’ fees) which we incur as a result of such proceeding or dispute.

ATTORNEYS’ FEES – We may recover attorney fees and expenses (including appeal fees) from you in connection with any account litigation or attempts to collect overdrafts or any matter arising out of the operation of your account.

AUTHORIZED SIGNER (Individual Accounts only) - A single individual is the owner. The authorized signer is merely designated by you to conduct transactions on your behalf. We undertake no obligation to monitor transactions by an authorized signer to determine that they are on your behalf.

RESTRICTIVE LEGENDS - We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction. Examples of restrictive legends are "must be presented within 90 days" or "not valid for more than $1,000.00."

USE OF STAMP OR FACSIMILE SIGNATURE – - If you use a stamp or other device to imprint a facsimile of an authorized signature on a check or any other debit form, you are fully responsible for the use of the stamp or device and for payments made by us in reliance upon the presence of the facsimile signature on any item presented for payment. If you fax any document to us signed, you agree that it was your intention that: (a) your fax signature is an electronic signature under applicable federal and state law; (b) the fax be an original document; (c) you intend on conducting business with us by electronic records and electronic signatures, and (d) your consent be electronically given under applicable federal and state law.

ACH AND WIRE TRANSFERS - This Agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403 (a) of the Uniform Commercial Code. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit. You also authorize us to convert your check to an electronic funds transfer or an imaged replacement document, and you agree that such imaged replacement document shall have the same validity as the original check.

PRIVACY

CONFIDENTIALITY

                         

Information about your account is private. Our management and staff are concerned about and respect your privacy. We will not release account information unless requested to by an account owner or a legal representative of an account owner or under certain other circumstances permitted by law or regulation. If we receive an order for such information from a court or an authorized government agency, we will comply by releasing account information.

Please refer to our separate "Privacy Statement" for additional information. 

THE U.S.A. PATRIOT ACT – To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions, including us, to obtain, verify and record information that identifies each person who opens an account or creates a new customer relationship with us. Accordingly, 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. Consistent with the U.S.A. Patriot Act, we reserve the right to refuse to open an account for you or provide service to you if we are unable to adequately identify you or verify your identity.

ACCOUNT VERIFICATION AND CREDIT REPORTING – We may make any inquiries that we consider appropriate to determine if we should open and maintain your account. This may include obtaining information from financial institutions or other third parties about your checking or savings accounts or a credit report on you, any other signer on the account, or your business. If we, in our sole discretion, decline to open an account or provide any services based on the credit information we receive we will, if required by law, provide you with the name and address of the company that provided the information.

If you do not satisfactorily maintain your account, or if we close your account for any reason including, without limitation, insufficient funds activity, fraud or attempted fraud, this may be reported to a credit reporting agency. Information we report may include your name, address, taxpayer identification number, and the date and reason the account was closed. A credit reporting agency may supply this information to others. An adverse report to a credit agency may affect your ability to open another deposit account at other financial institutions.

CREDIT REPORTS – We may request credit history, employment history and background verification on you (or any other authorized signers of your account) at the time of account opening, from time to time when your account is open and as a result of any subsequent event which may create liability for us (i.e., overdrawn balance, affidavit of forgery, undeliverable mail, etc.).

FRAUD DETECTION AND DETERRENCE; SAFEGUARDING YOUR ACCOUNT – There are several precautions that you can and should take to decrease the risk of unauthorized transactions from your account. Such precautions include, but are not limited to:

1.       1. Calling us immediately at (888) AHBank9 (888-242-2659) or 312-706-0700 if you suspect problems with your account or unauthorized activity, or your account materials, such as checkbooks, unused checks, credit cards or ATM cards are lost, stolen or misplaced;

2.       2. Safeguarding and not disclosing to third parties (i) information about your account, such as your account numbers and personal identification numbers; (ii) information which can be used to access your account including, such as your checkbook, blank or unused checks, electronic access devices and any passwords or other access-related information; and (iii) facsimile signature devices, if any;

3.       3. Reviewing carefully your statements and account balance for unauthorized activity;

4.       4. Closing your account immediately upon discovery of any known or suspected unauthorized activity;

5.       5. Recognizing that wireless and cellular telephone calls are more susceptible to unauthorized access and interception, limiting your telephone transactions with us to landline telephones;

6.       6. Drafting written checks in a manner that limits or avoids the potential for alteration or forgery (recommended precautions include (i) using dark, permanent ink; (ii) confirming that the numeric and written amounts match and are readable; and (iii) ensuring that there are no blank spaces in the check)

We may also issue certain recommendation or precautions or make certain products or services available to you in our efforts to detect and deter fraud. While no precautions, products or services can be assumed to be completely effective in this regard, you are expected to make all efforts designed to detect and deter fraud against your account. If you fail to follow these and other precautions that are reasonable for, and applicable to, your particular account and circumstances or fail to implement any products or services made available to you by us, you will be precluded from asserting any claim against us for payment of an unauthorized or fraudulent item if such fraud would have likely been detected or deterred had you followed the precaution or used the product or service. We will not re-credit your account or otherwise have any liability for such unauthorized or fraudulent items.

ADVERSE CLAIMS – In response to notice of any adverse claim to you regarding your account or the funds in your account (including but not limited to any notice concerning any claim by you of forged, unauthorized, or missing endorsement or drawer’s signature, or alteration on, or any other claim of improper deposit or cashing by you of any checks or other items) we may, in our sole discretion, refuse to pay out any money from your account or charge any of your accounts in the amount of the claim and may hold this amount in a separate or commingled account pending resolution of the claim and may act as otherwise permitted by law. If we decide to charge your account, we will notify you in a timely manner. As permitted by law, we may exchange information with others concerning any adverse claim made.

                         

SUBACCOUNT ORGANIZATION (Checking and NOW Accounts only) – We have organized your account in a nontraditional way.  Your account consists of two subaccounts.  One of these accounts is a transaction subaccount (e.g., a checking subaccount).  You will transact business in this subaccount.  The other subaccount is a nontransaction subaccount (e.g., a savings account).  You cannot directly access the nontransaction subaccount, but you agree that we may automatically, and without a specific request from you, initiate individual transfers between subaccounts from time to time at no cost to you.  This account organization will not change the amount of federal deposit insurance available to you, your available balances, the information on your periodic statements, or the interest calculation, if this is an interest-bearing account.  You will not see any difference between the way your account operates and the way a traditionally organized account operates, but this organization makes us more efficient and helps to keep costs down.

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT – SUBSTITUTE CHECKS AND 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 back of the original check.  The front of the substitute check states: “This is a legal copy of your check.  You can use it the same way you would use the original check”.  You may use a substitute check as proof of payment just like the original check.

                         

Some or all of the checks that you receive back from 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 the original check.

                         

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 thing 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, bounced 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 100% of your refund (plus interest if your account earns inters) within 10 business 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:

                         

            American Home Bank

            Attn:  Deposit Operations

            220 West Huron Street

            Chicago, IL  60654                        

                         

You must contact us within 30 calendar days of the date that we mailed (or otherwise delivered by a 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.

ELECTRONIC FUND TRANSFERS – YOUR RIGHTS AND RESPONSIBILITIES

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).

Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).

American Home Bank Customer Service Center Telephone Transfers. You may access your account by telephone 24 hours a day at 866-234-7636 using your personal identification number, a touch tone phone, and your account numbers(s), to:

  • Transfer funds from checking to checking
  • Transfer funds from checking to savings
  • Transfer funds from savings to checking
  • Transfer funds from savings to savings
  • Transfer funds from line of credit to checking
  • Transfer funds from line of credit to savings
  • Make payments from checking to loan accounts with us
  • Make payments from savings to loan accounts with us
  • Get information about:
  • The account balance of checking accounts
  • The last 10 deposits to checking accounts
  • The last 10 withdrawals from checking accounts
  • The account balance of savings accounts
  • The last 10 deposits to savings accounts
  • The last 10 withdrawals from savings accounts

ATM Transfers - types of transfers, dollar limitations, and charges. You may access your account(s) by ATM using your ATM Card and personal identification number or VISA® Debit Card and personal identification number, to:

  • Get cash withdrawals from checking or savings account(s) with an ATM card
  • You may withdraw no more than $500.00 per day
  • Get cash withdrawals from checking or savings account(s) with a Debit card
  • You may withdraw no more than $500.00 per day
  • Transfer funds from savings to checking account(s) with an ATM card
  • Transfer funds from savings to checking account(s) with a Debit card
  • Transfer funds from checking to savings account(s) with an ATM card
  • Transfer funds from checking to savings account(s) with a Debit card <