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THE BANCORP BANK ACCOUNT AGREEMENTTERMS AND CONDITIONSACCOUNT AGREEMENTTERMS AND CONDITIONSThis Account Agreement is effective August 17,2016.IMPORTANT – Please read carefully and retain thisAccount Agreement for your records.Your account(s) is issued and operated by TheBancorp Bank. If you have any questionsconcerning the terms and conditions, pleasecontact Customer Care.DefinitionsThis Account Agreement (the “Agreement”) containsthe rules that govern, where appropriate, youraccount(s) with The Bancorp Bank (the “Bank,” “we,”or “us”).The words “you” and “your” mean each account ownerand anyone else with authority to deposit, withdraw, orexercise control over an account. If there is more thanone owner, then these words mean each accountowner separately, and all account owners jointly.An “owner” is one who has the power to deal with anaccount in his, her or its own name.An “agent,” in contrast, is one whose power towithdraw from an account comes from, or is on behalfof, the owners. Authorized signers, designatedcorporate officers, trustees, attorneys-in-fact, andconvenience signers are examples of agents.Entities such as corporations, limited liabilitycompanies, partnerships, estates, conservatorships,and trusts are not natural persons, and can only actthrough agents. In such cases, it is the “entity” that isthe owner.“Personal accounts” are accounts in the names ofnatural persons (individuals). They are to bedistinguished from “non-personal accounts” which areaccounts in the name of corporations, partnerships,trusts and other entities.“Deposit Account” means any checking account,savings account, or money market account openedwith the Bank.“Financial Service” means a Deposit Account,overdraft credit account, Funds Transfer service, orany other financial product or service available throughthe Bank.Unless it would be inconsistent to do so, words andphrases used in this Agreement should be construedso that the singular includes the plural and the pluralincludes the singular.Consent to Terms and Conditions andModificationsBy submitting a Bank-approved application or usingany Financial Service, you agree to the terms andconditions of this account and the Schedule of Feesthat may be imposed. The terms and conditions of thisaccount include this Agreement, any disclosures wegive you when you open your account, disclosures wegive you when you use additional products andservices, periodic statements, user guides, privacystatements, and any other disclosure or terms weprovide you. Continued use of your account meansyou agree to these rules, you agree to pay the feeslisted, and you give us the right to collect the fees, asearned, directly from your account balance. You areresponsible for the accuracy and completeness of allinformation supplied to us in connection with youraccount and/or account services.Any notice provided by us to any account owner isdeemed to have been provided to all account owners.HSAGen T&C 081716ModificationsThe Bank may amend or change any terms of thisAgreement or any account disclosures and documentsprovided to you. Notice of the amendment or changewill be provided to you as required under applicablelaw.3.If at any time the terms, conditions or chargesassociated with your account are not acceptable toyou, you may terminate this Agreement by closingyour account after paying any fees, penalties, orcharges owed to the Bank. We may cancel or suspendyour debit card or other account access device orservice or this Agreement at any time.4.5.Waivers And PrecedentsAny waiver by the Bank must be approved by anauthorized representative of the Bank. If a waiver isapproved by the Bank, we are not obligated to providesimilar waivers in the future.6.Identification Notice (USA PATRIOT ACT)To help the government fight the funding of terrorismand money laundering, Federal law requires allfinancial institutions to obtain, verify, and recordinformation that identifies each person who opens anaccount.This means that when you open an account, we mayask for your name, address, date of birth, and otherinformation that will allow us to identify you. We mayalso ask to see other identifying documents such asdriver's license or documents showing your existenceas a legal entity.Even if you have been an existing customer of ours formany years, we may ask you to provide this kind ofinformation and documentation because we may nothave collected it from you in the past or we may needto update our records.If, for any reason, any owner is unable to provide theinformation necessary to verify their identity, youraccount(s) may be blocked or closed, which may resultin additional fees assessed to the account(s).OVERVIEWOwner’s Authority and Authorized Persons orAgents (including Power of Attorney)Each owner of a personal account, or an agent for anon-personal account, acting alone, has the power toperform all the transactions available to the account.For example, each owner is authorized on behalf ofyou to open, operate and close accounts; execute orotherwise agree to any form of agreement relating tothe Financial Services, including, without limitation,draw, accept, endorse or discount checks, drafts, billsof exchange, notes and other financial instruments;receive materials related to security procedures; andgive instructions, including, without limitation, requestsand payment orders, by means other than the signingof an Item, with respect to any account transaction.Without limitation, such instructions may be givenregarding: (i) the payment, transfer or withdrawal offunds by wire, computer or other electronic means, orotherwise; (ii) money, credits, items or property at anytime held by the Bank for your account; or (iii) anyother transaction of yours with the Bank. Upon thedeath of one owner of a joint account with right ofsurvivorship, the balance of the account will belong tothe surviving owner(s).Any account owner is permitted to authorize anyoneelse to access your account (an “Agent”). This can bedone by following a process the Bank requires (suchas designating someone an authorized signer) or byauthorizing someone on your own to act on yourbehalf (such as a through a power of attorney.)If you name an agent:1. we may require that you use forms we approve andrequire each owner to sign the form to be effective;2. the powers you give to your agent, and anylimitations on those powers, are between you andyour agent, even if we have express written noticeof those powers. You understand and agree that we7.have no duty or responsibility to monitor the acts ofyour agent or ensure that the acts of your agent arefor your benefit. For example, if you only give youragent authority to pay your bills and your agentexceeds that authority, we are not responsible forthat breach of authority;you agree not to hold us responsible for any loss ordamage you incur as a result of us followinginstructions given to us by your agent;the owners of the account are responsible to us forany actions of your agent, regardless of whetherthose actions exceed the authority given or whetherthe agent is formally nominated by all the owners orless than all the owners;the agency will end if the owner dies and we getnotice of that death, or if there is more than oneowner, the agency will end after the death of thelast owner and we get notice of that death and, ineither case, once we’ve had reasonable opportunityto act on it.the agency will end after the owner notifies us inwriting to end the agency and we have had areasonable opportunity to act on it.if you authorize any third person, such as abookkeeping service, an employee, or agent ofyours to retain possession of or prepare items, youagree to assume full responsibility for any errors orwrongdoing performed or caused by such thirdperson or any of its agents or employees if weshould pay any such item.The Bank is authorized to rely upon any document thatindicates that a person or agent is authorized to act onbehalf of you with respect to Financial Services. Thatauthority shall remain in effect until the authority for theAgent is withdrawn by you upon written notice to theBank and the Bank has had a reasonable opportunityto act on the termination instruction.The Bank will honor a Power of Attorney designationon an account, if it receives the requireddocumentation evidencing such designation. Theaccount owner and person executing the power ofattorney over a Deposit Account is known as the“Principal.” The person granted power of attorney forthe Principal is known as the “Attorney-in-Fact.” Wemay refuse to accept a power of attorney forreasonable cause, and we may require the Attorneyin-Fact to sign an affidavit stating that the power ofattorney presented to us is a true copy and that, to thebest of the Attorney-in-Fact’s knowledge, the Principalcontinues to be alive and competent and the relevantpowers of the Attorney-in-Fact have not beenamended or terminated.The Principal is responsible for informing us in writingif the Principal learns of any untrue or misleadinginformation relating to the Power of Attorney or if theAttorney-in-Fact exceeds the authority granted by thePrincipal in the power of attorney. The Attorney-in-Factis required to notify us in writing if the Principal or anyother account owner dies or is declared incompetent.The power of attorney will continue in force until (a) wereceive written revocation from the Principal; (b) wereceive written notification of the Principal’s death; or(c) we receive written notification of the death orincapacity of the Attorney-in-Fact.Banking ProductsThe Financial Services offered through the Bankwebsite are provided by The Bancorp Bank, a memberof the Federal Deposit Insurance Corporation (the“FDIC”). For purposes of applicable FDIC depositinsurance limitations, deposits in accounts at TheBancorp Bank opened through the Bank, or anyaffiliated Bank or Bank website, may not be separatelyinsured from any other Deposit Accounts you mayhave opened with The Bancorp Bank, depending onthe named account owners.Internet-Enabled AccountsYou certify that you have access to the Internet and acurrent email address. You have sole responsibility forproviding the Bank with a correct and operationalemail address and ensuring that you have access tothat email address. You must promptly notify the Bankof any change in your email or postal mailing address,1
or if you are unable to access your accountinformation through the Internet. If you do notpromptly notify the Bank, we will not be held liablefor any adverse effects to your account as a resultof undelivered mail or email or due to your inabilityto access your account information over theInternet. The Bank is not responsible for any coststhat you incur for maintaining Internet access or anemail account.PrivacyYour account is subject to the Bank’s privacy practicesas set forth in its privacy notice. You have had anopportunity to review, download and/or print, and youagree to the privacy notice relating to the FinancialServices provided by the Bank.Consumer ReportsConsumer reports may be obtained by the Bank inconnection with any Financial Service that you requestor receive. The Bank will inform you of its use of anyconsumer report as required by law. If you ask us, youwill be informed whether or not such a report wasrequested, and if so, the name and address of eachagency that furnished the report.Illegal, Fraudulent or Improper ActivityYou will not use the Bank website or any FinancialService for any illegal, fraudulent or improper activity,including Internet Gambling. If the Bank suspects thatyou may be engaging in or have engaged in afraudulent, illegal or improper activity, including aviolation of this Agreement, or any terms andconditions relating to the Bank website or anyFinancial Service, your access to the Bank websiteand any Financial Services may be suspended orterminated. You understand that transactions in youraccounts may be suspended or terminated if anInternet Banking user ID, Internet Banking password,debit card, or Personal Identification Number (“PIN”)(individually and collectively, an “Access Device”) hasbeen reported lost or stolen or when the Bankreasonably believes that there is unusual or suspiciousactivity on any of your accounts. You will cooperatefully with the Bank to investigate any suspected illegal,fraudulent or improper activity.Fraud PreventionTo help prevent fraud and other criminal activities, theBank strongly suggests that you use an up-to-dateweb browser with security features. Regardless ofwhether you use a web browser with security features,the Bank is unable to ensure that the data transmittedby you to the Bank, or from the Bank to you, will notbe intercepted by third parties. To further ensure thesecurity of your account, the Bank encourages you toavoid transmitting confidential information throughemail communications.Further, do not disclose your password to access theBank web site, or any PIN assigned to your account, toany person other than persons you intend to have fullauthority to act on your behalf with regard to all of yourFinancial Services and accounts. The Bank may actupon instructions and information received from anyperson that enters your user ID and password, orprovides your PIN, as applicable. You will notify theBank immediately if your password or PIN iscompromised or lost.Agreements Regarding Telephone and ElectronicCommunicationsYou agree that we and our agents, affiliates,contractors, subcontractors, and assignees may call orcontact you at any telephone number obtained by anyreasonable means, including without limitation, a calleridentification system that captures your number whenyou call us or from a third party such as one of yourcreditors.You expressly consent to receiving calls, textmessages and other communications from us, ouragents, affiliates, contractors, subcontractors, andassignees on any number that is assigned to a cellulartelephone service, wired telephone service (land line),paging service, facsimile machine, specialized mobileradio service, or other radio common carrier service,placed through use of an autodialer, artificial voice orHSAGen T&C 081716pre-recorded message, or any other technology, evenif you incur a cost when we contact you.You expressly consent to our recording of telephoniccommunications with you, even if we do not inform youof the recording at the time of the call.Limit on LiabilityTo the fullest extent permitted by law, the Bank will nothave any liability in connection with any unauthorizedinterception or use of data relating to you or theFinancial Services; any inability to use or access theBank website for any reason; any actions ortransactions by an individual who uses your user IDand password; or any cause over which the Bank doesnot have direct control, including problems attributableto computer hardware or software (including computerviruses), telephone or other communications, orInternet service providers. The Bank will not haveliability for any adverse effects to your account causedby any spam block programs or fire walls that mayprohibit email communications and/or accountinformation access through the Internet.The Financial Services accessible through the Bankwebsite are provided “as is” and with all faults. TheBank disclaims, for itself and for each other entityrelated to providing the Financial Services, allwarranties, either express or implied or statutory,including, but not limited to, any implied warranties ofmerchantability, fitness for a particular purpose andlack of viruses. In no event shall the Bank be liable for(a) damages caused other than by its own grossnegligence or intentional misconduct or (b) indirect,special, incidental, consequential or punitive damageswhatsoever (including, but not limited to, damages forlost profits, disclosure of confidential information, orloss of privacy) arising out of or in any way related tothe use of or inability to use the Bank website or anyFinancial Service, even if the Bank has been advisedof the possibility of such damages. In no event shallthe Bank be liable for any act or omission of any thirdparty (such as, for example, any provider oftelecommunications services, Internet access orcomputer equipment or software) or anycircumstances beyond our control (such as, forexample, a fire, flood or other natural disaster, act ofGod, war, riot, strike, act of civil or military authority,equipment failure, computer virus, or failure orinterruption of electrical, telecommunications or otherutility services). The foregoing disclaimer may not beeffective under applicable state law.TransferYou may not transfer any rights or obligations youmay have under this Agreement or with respect toany Financial Service without prior written consentof the Bank. The Bank reserves the right to transferany right or obligation under this Agreement or withrespect to any Financial Service without yourconsent.Governing LawThis Agreement between you and the Bank isaccepted by the Bank in the State of Delawareand is governed by Delaware law.In addition to the terms and conditions set forth inthis Agreement and related account disclosures,your account is subject to, applicable FDIC rulesand regulations, and the laws of the State ofDelaware, the United States of America and anyother regulatory bodies with jurisdiction over theBank and the Financial Services provided.MiscellaneousThis Agreement is binding upon and shall insure tothe benefit of permitted successors, assignees anddesignees of you and the Bank. If any provision ofthis Agreement is invalid, illegal or unenforceable,the validity, legality and enforceability of theremaining provisions shall not in any way beaffected or impaired and will remain in full force.Contacting The Bancorp BankYou may contact The Bancorp Bank by email orby first-class U.S. mail to: The Bancorp Bank,Attn: Customer Service, 409 Silverside Road,Suite 105, Wilmington, DE 19809 or by toll-freetelephone.Telephone conversations with representatives of theBank may be recorded and retained.GENERAL TERMS AND CONDITIONSAccount TransferYour account(s) may not be transferred or reassignedwithout our prior written consent.Right of Set OffIf you owe us money or are past due on any obligationto us, we can use the funds in any of your accountswith us to repay the amount you owe us, without goingthrough any legal process or court proceeding. In otherwords, we reserve the right to set off any liabilityprimary or secondary, direct or contingent, past,present or future, sole or joint – that you owe to us,against any individual or joint Deposit Account youhave with us. To the extent that we charge youraccount, we are relieved from any liability inconnection with the funds we use. Further, you grantus a lien on and security interest in the funds ondeposit in each of your accounts as security for all ofyour liabilities and obligations to us, now or in thefuture. We will notify you if we have exercised our rightof set off.StatementsYou agree to examine and reconcile your periodicstatement upon receipt and promptly notify us bytelephone or by email of any discrepancy or theunauthorized payment of any item. If you fail to do so,you will have to either bear the loss yourself or sharethe loss with us (depending on whether we usedappropriate care and/or whether we in any significantway contributed to the loss). You agree that you willexamine your statement with care within a reasonableperiod of time not to exceed 30 days from when thestatement is first sent or made available to you.Investigation of ClaimsIf you fail to discover or notify us of any unauthorizedsignature, forgery or alteration on the face or back ofthe check or any unauthorized draft or item on youraccount within 30 days after the monthly statement ismade available to you, you cannot make any claimagainst us with respect to the check, draft, or item. Inaddition, we are not liable for an item that has beenforged or altered in such a way that a reasonableperson could not discover the forgery or alteration.You are in the best position to detect anunauthorized signature, a forged endorsement, amaterial alteration, an unauthorized paper draft orany unauthorized item on your account.If you notify us of an unauthorized signature, forgery oralteration on the face or back of any check, anyunauthorized paper draft, or any unauthorized item onyour account within the time period required by the termsof this disclosure, we may investigate your claim for up to60 days after receipt from you of all information we mayrequest from you regarding such claim.During any investigation of your claim of anyunauthorized signature, forgery, alteration, unauthorizedpaper draft, or unauthorized item with respect to youraccount, we may elect to freeze or not credit you for theamount of such item(s) until we have completed ourinvestigation.We are not responsible for any temporary unavailabilityof funds in your account during the time in which thedisputed item(s) are under investigation. This includesforged checks, unauthorized paper drafts andunauthorized items.Account Liability/Customer AssistanceIf you notify us of any alleged fraudulent or unauthorizeditem or transaction affecting your account and we electto credit your account for the amount of any such allegedfraudulent or unauthorized item or transaction, you agreeto fully cooperate with us and assist us during anyinvestigation or proceeding.If you refuse or fail to fully cooperate and assist us inany investigation or proceeding involving suchunauthorized items by or for your benefit, then, at our2
election, you must repay to us the amount of any prioraccount credit for the unauthorized item(s), and wemay deduct such amounts from your account withoutfurther notice. In addition, you agree to hold the Bankharmless for any loss you incur as a result of theunauthorized item(s).EscheatmentAccounts that are inactive for a period of time may beconsidered to be dormant or abandoned. If thishappens, the funds in your account may be to requiredto be turned over to the state of your last knownaddress. Each state has varying laws as to when theaccount is subject to escheat. We will make allreasonable efforts to contact you before transferringyour account(s) to an applicable state. For accountswith international addresses, the funds will betransferred to the State of Delaware.Duty of CareIn accordance with reasonable banking standards,most checks and other items presented to us forpayment are processed through automatedprocessing and, except in limited circumstances andsubject to such reasonable sampling procedures aswe establish at our discretion, most items are notindividually examined to verify your signature or verifythat the item is otherwise properly payable. You agreethat we act within reasonable banking standards byprocessing most checks, paper drafts and other itemsthrough automated processing systems.Foreign ActivityIf you have moved outside of the United States orhave frequent international transactions, you may becontacted about the international activity in youraccount and for further verification of your address. Ifyou are moving, traveling, or will be temporarilyresiding overseas, we recommend you contact us toprevent any disruption in your account activity. Youraccount may be closed.Inactive and Dormant AccountsWe may consider a Deposit Account to be “inactive”after a period of no owner-initiated activity. After aperiod of “inactive” status, we may consider a DepositAccount to be “dormant.” After a period of dormancy,we may take steps to initiate escheatment (see the“Escheatment” section, above).If the account is an interest-bearing account, theaccount will continue to earn interest, and all accountswill be subject to service charges in accordance withour Schedule of Fees. If an account becomesinactive or dormant, we will notify you in writing withspecific instructions on how to restore the account toan active status without the need to make anytransactions.Death or IncompetenceYou or your appointed party, designee, or appointedindividual agree to notify us promptly if any agent orperson with signatory rights on your account dies orbecomes legally incompetent or incapacitated. Wemay continue to honor such checks and items until (a)we know of the fact of death or of a legal determinationof incompetence or incapacitation and (b) we have hada reasonable opportunity to act on that knowledge.You agree that, even if we have knowledge of death ofan agent or person with signatory rights, we may payor certify checks drawn on or before the date of deathfor up to 10 days after that date, unless ordered tostop payment by someone claiming an interest in theaccount. We may require additional documentation toconfirm any claims made on the account.Facsimile SignaturesBefore using any form of facsimile signature inconnection with a Deposit Account, you agree tosubmit a sample to us and to execute and deliveragreements in a form we require. When you use afacsimile signature, you agree that you shall have thesole responsibility for ensuring the security of thefacsimile signature, and you bear the entire risk forunauthorized use thereof, whether or not you arenegligent, except where it may be required by law.You agree that no facsimile signature we have beenHSAGen T&C 081716authorized to honor may be considered a forgery or anunauthorized signature, and that such facsimile shallbe effective as your signature or endorsement,whether or not you have been negligent. You furtheragree to indemnify us and hold us harmless from andagainst any and all losses, costs, damages, liabilitiesor exposures we or you may suffer or incur as a resultof the unlawful use, unauthorized use, or misuse byany person of any such facsimile or automatedsignature or the device by which it is affixed.Fees and ChargesYou agree to pay the charges as shown on theSchedule of Fees, which is provided with thesedisclosures and posted on our website. Fees orcharges incurred on your account will be deducteddirectly from the account balance. We will not be heldliable for any items that are dishonored or any otherdebts that may occur from the deduction of charges asstated in this Agreement.Interest RatesYour account may earn interest at such a rate andcompounding frequency as we disclose to you. Wewill not change the rate or Annual Percentage Yield ona time deposit prior to the next maturity date.IRS Backup WithholdingIf you do not provide us with your correct TaxIdentification Number (Social Security Number orEmployer Identification Number) and the requiredcertification, or if we receive a notice from the InternalRevenue Service (“IRS”), the interest earned on youraccount may be subject to federal backup withholdingat the IRS-mandated rate.Levies, Garnishments, and Other Legal ProcessesIf your account becomes subject to legal action, suchas a tax levy or third-party garnishment, we reservethe right to refuse to pay any money from youraccount, including checks or other items presented forpayment, until the action is resolved. If we arerequired to pay an attachment, garnishment or taxlevy, we are not liable to you. Payment is made aftersatisfying any fees, charges or other debts owed tous. You agree that you are responsible for anyexpenses, including legal expenses and fees we incurdue to a garnishment, levy or attachment on youraccount. We may charge these expenses to youraccount. Until we receive the appropriate courtdocuments, we may continue to process transactionsagainst your account, even if we have received anunofficial notification of an adverse claim. You willindemnify us for any losses if we do this.Signature CardsYou will provide us with any Signature Cards andother documentation or information that we requestin connection with a Deposit Account. Your failure toprovide this information may result in federal backupwithholding and prohibit transactions in which thesedocuments are required for verification purposes.We may incorporate the Signature Card in theapplication for the account.Financial InformationYou agree to provide us with accurate andcomplete financial and other information werequest in connection with a Deposit Account.Information concerning a Deposit Account maybe reported to credit reporting agencies and willbe made available when requested by properlegal procedures.Personal AccountsAn account opened for personal use cannot beused for business purposes. If your personalaccount is identified as being used as a businessaccount, it will be closed.Account ClosingsIf you wish to close your Deposit Account with theBank, you agree to notify us of this intention inwriting. After a Deposit Account is closed, we haveno obligation to accept deposits or pay outstandingitems, but may do so at our discretion and anyaccess device will no longer be active. You agree tohold us harmless for honoring or refusing to honorany check, paper draft, or other item on a closedaccount. A Bank check for the balance in the accountwill be sent to the address on file within 14 businessdays of your final transaction and/or of receiving allrequired documentation for closing the account. Allrelated closing fees as noted in our Schedule of Feesmay be deducted from the final balance. If yourbalance is 2.00 or less, the Bank will not send a check for thebalance. The Bank reserves the right to close youraccount at any time.Internal Accounting of BalancesThe following is a summary of the functionality of youraccount. This is an explanation of how your account isstructured and does not reflect any changes to youraccount functionality at this time. Your checkingaccount will consist of two (2) “Sub-Accounts” on thebooks of the Bank: (1) either a demand deposit (noninterest-bearing) account or a NOW (interest-bearing)account; and (2) a savings deposit, as those terms aredefined under federal law. The two will be treated as asingle account for Customer use, and you will see noeffect.All deposits and other
Bancorp Bank. If you have any questions concerning the terms and conditions, please contact Customer Care. Definitions authorized representative of the Bank. If a waiver This Account Agreement (the "Agreement") contains the rules that govern, where appropriate, your account(s) with The Bancorp Bank (the "Bank," "we," or "us").
