Accounts opened on or before the 25th of each month will pay on the third statement cycle, accounts opened between the 26th and 31st will pay in the fourth statement cycle. You authorize us to attempt to collect previously returned items without giving you notice, and in attempting to collect we may permit the payor bank to hold an item beyond the midnight deadline. You may make unlimited deposits into your account. The interest rate for your account is ___% with an annual percentage yield of ___%. Your authorization to the third party to make these transfers can occur in a number of ways. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprintor fingerprint. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. Some activities may not cause your available balance to increase or decrease right away. Pay-On-Death Account You may create a Pay-On-Death account by designating one or more Pay-On-Death beneficiaries. Web access is needed to use this service. Insert your cash in the envelope and seal it. You should keep this notice for future reference. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss). If, through no fault of ours, you do not have enough money in your account to make the transfer. You agree to indemnify us for any loss we may incur as a result of any truncated check transaction you initiate. Minimum balance to avoid imposition of fees -A service charge fee of $5.00 will be imposed monthly if the balance in the account falls below $100.00 any day of the cycle. WebRemove your cash and debit card from the ATM and store it away safely. This account may not be transferred or assigned without our prior written consent. You will be paid this rate until first maturity. In that case, we will reverse the credit of the item. Funds from deposits of cash, wire transfers, and the first $5,525 of a days total deposits of cashiers, certified, tellers, 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. Simmons Bank trustworthiness and BBB You cannot directly access the nontransaction subaccount, but you agree that we may automatically, and without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. Rate information -Your interest rate and annual percentage yield may change. If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, 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. The Simmons Bank Simply Checking Account gives you UNLIMITED check writing privileges. You agree to pay all fees and charges applicable to the accounts and services we provide to you, including, but not limited to, those described in this agreement and in our Schedule of Fees and Charges. You must also take precaution in safeguarding your blank checks. (10) Military Lending Act:If you are a covered member of the armed forces or the dependent of a covered member within the meaning of the Military Lending Act and your Agreement with us involves an extension of consumer credit under that Act, then you are not required to arbitrate disputes. You may avoid the Paper Statement Fee by enrolling to receive eStatements instead of paper statements for this account. You also warrant that any substitute check you create conforms to the legal requirements and generally accepted specifications for substitute checks. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular. The fact that, in the past, we may have paid items that created overdrafts or returned items that would have overdrawn your account does not obligate us to do the same in the future. To process the deposit, we will verify and record the deposit, and credit the deposit to the account. Balances of $20,000.01 and over will earn an Annual Percentage Yield of 0.01% when the above requirements are met. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. Your entire indorsement (whether a signature or a stamp) along with any other indorsement information (e.g. Whenever the words, include, includes, or including are used in this agreement, they shall be deemed followed by the phrase without limitation (except to the extent such phrase, or a phrase of substantially similar meaning, is already expressly stated). If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. give you disclosures of some of our policies to which you may be entitled or in which you may be interested. An item may be returned after the funds from the deposit of that item are made available for withdrawal. Compounding and crediting frequency -Interest will be compounded every quarter. WebSimmons Bank ATMs. 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. We are not responsible for the actions of a fiduciary, including the misuse of funds. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. We may rely on the information in that confirmation unless you notify us immediately of any errors. WebSimmons Bank Kroll Bond Rating Agency ratings shown above were affirmed on March 4, 2022. Any remaining balances in your Coin Savings account will be paid the Base Rate. 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. Please refer to Internal Revenue Service (IRS) guidelines regarding any eligibility requirements for deposits to Health Savings Accounts. The minimum deposit is based on the credit limit of your associated Foundation Card, which will be disclosed on your Foundation Card mailer. A transaction charge of $0.25 will be assessed on each additional deposited item. The Notice to us should be sent by certified mail to: Legal Department, Simmons Bank, P.O Box 7009, Pine Bluff, Arkansas 71611-7009 (Notice Address). You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures. Non-Visa Debit Transaction Processing -We have enabled non-Visa debit transaction processing. A minimum of $0.01 must be deposited within 45 days of account opening. If we are presented with an item drawn against your account that would be a substitute check, as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item. If we receive such a second or subsequent request for payment, we will treat the request as an independent item different from the item(s) previously presented. BauerFinancial Star-Rating system utilizes a scale of zero stars (lowest) to five We may ignore instructions (such as an instruction by one account holder or authorized signer not to honor items or other withdrawal orders by another account holder or authorized signer) for the account unless all account holders or authorized signers agree to the instruction. Simmons Bank does not provide, and is not responsible for, the web sites content or performance. Minimum balance to avoid imposition of fees -A service charge fee of $5.00 will be imposed monthly if the balance in the account falls below $100.00 any day of the cycle. Errors relating to electronic fund transfers or substitute checksThis paragraph applies to consumer accounts only. To use the Simmons Bank Mobile Deposit service, you must have the following: If you qualify for mobile deposit, the service will be available to you automatically. This method applies a daily periodic rate to the principal in the account each day. If you will need the funds from a deposit right away, you should ask us when the funds will be available. As a result, we have no opportunity to review the signatures or otherwise examine the original check or item. You may not make any deposits into your account before maturity. If your account has an original maturity of one year or more: The fee imposed will equal 360 days interest on the amount withdrawn. In all cases, these third party transfers will require you to provide the third party with your account number and bank information. DeluxeXL 6 yr. ago You can mail your check if they don't take remote deposits due to the amount. You may know that most banks have ATM withdrawal limits. Deposit limits exist, too, although they are less common. Capital One, for example, has a one-time cash deposit limit of $5,000. Some banks also set limits on how many bills (individual banknotes) you can deposit through an ATM. Among the debit categories, categories of electronic transactions, such as ATM withdrawals, PIN-based debit card transactions, and signature-based debit card transactions, are generally posted before categories of paper items, such as checks. (2) Claims Not Subject to Arbitration:You and we agree that the following disputes or claims cannot be arbitrated: These exclusions from arbitration are intended to be interpreted narrowly. 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. These indorsement guidelines apply to both personal and business checks. But in the event you bring a dispute against us, you will not be responsible for our costs and attorneys' fees except as provided by applicable law. Compounding and crediting frequency -Interest will be compounded every month. 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