Agility Savings Account Agreements and Disclosures

Consumer Deposit Account Agreement for the CIBC Agility Savings Account 

Effective May, 2018

Introduction
By signing an account signature card or agreeing to the terms and conditions of an account through an online or electronic account application, making a deposit to or using a CIBC Agility Savings account (“Account”) at CIBC Bank USA (“Bank”), or keeping an Account open, you agree that your Accounts with us are governed by these terms and conditions (the “Account Agreement”), the terms and conditions provided in the signature card or online account application for each Account, and applicable Disclosures, as they may be amended. These provisions apply to you, your heirs, or any party acting on your behalf or that acquires an interest in your Account.

Consumer Accounts are Accounts established primarily for personal, family or household purposes. These Accounts may not be used for business purposes. We may close your consumer Account or transfer the funds to a commercial Account if it is used for business purposes.

The words “Bank”, “we,” “our,” and “us” as used in this Account Agreement, mean CIBC Bank USA and the words “you” and “your” mean the Account holder(s) and anyone else who has the authority to deposit, withdraw, or exercise control over the funds in the Account. Other terms that are used in this Account Agreement are defined throughout the Account Agreement or in the Definitions section. Section headings are for convenience only and do not affect the meaning of the sections. Where it makes sense, words that are singular, such as Account, also apply where there is more than one (for example, Accounts) and plural terms also include the singular.

Definitions

The following terms have the meanings stated below when used in this Account Agreement:

• ACH means the United States Automated Clearing House Network.
• Affiliate means any entity that controls, is controlled by, or is under common control with the Bank, whether directly or indirectly.
• Applicable Law means applicable United States federal (“Federal”) law and Illinois law (when it is not superseded by Federal law), and applicable rules and regulations, including but not limited to, those issued by the Board of Governors of the Federal Reserve System (“Federal Reserve”) and other Federal banking regulators, the State of Illinois, and applicable clearinghouse and card association rules. State (“State”) as used in this Account Agreement refers to a state in the United States. Where State law supersedes Federal or Illinois law, the laws of the State where your Account is maintained will govern. Your Account is maintained at the branch where it was opened, unless we notify you otherwise. If you opened your Account by mail, Internet or other remote means, your Account is maintained in Illinois.
• Business Day means Monday through Friday, excluding Federal holidays, even though we may be open on a Saturday or Sunday. Transactions on Saturday, Sunday and Federal holidays are posted on the next Business Day.
• Check means check, draft, electronic image, or other negotiable instrument, including substitute checks, deposited to or debited from your Account.
• Item means any transaction posted to your Account, including Checks, in- person withdrawals or transfers, ATM transactions, credit or debit card transactions, preauthorized electronic funds transactions, ACH entries, or any other credits or debits to your Account.
• Losses means any loss, cost, liability, claim, damage or expense (including reasonable attorneys’ fees and court costs).
• Overdraft means a negative balance in your account that results when the available funds in your account are less than the amount of any Item(s) that are presented for payment and paid by the Bank.
• Overdraft Fee means the fee charged when the Bank pays an Item charged to your Account resulting in an Overdraft, rather than returning the Item.
• NSF (Non-Sufficient Funds) Fee means the fee charged when an Item presented for payment exceeds the available funds in your Account and the Bank returns the Item unpaid.

Agreement to Arbitrate

Please read this agreement to arbitrate carefully. Unless you opt out of this agreement to arbitrate, you and we are agreeing to binding arbitration, waiving the right to have our claim or dispute litigated in any court, except small claims court, waiving any rights to a jury trial and waiving any right to bring or participate in any class or other representative action. Your right to opt out of this agreement to arbitrate is described below.

Claims or Disputes Subject to Arbitration
This agreement to arbitrate applies to all claims or disputes (collectively “Claims”) between you and us related to your Account. This includes, but is not limited to, transactions, any related product or service, this Account Agreement, any prior deposit account agreement with us, any disclosures, or advertising regarding your Account. This agreement to arbitrate applies regardless of the legal theory the Claims are based on or whether they arose in the past, may currently exist, or arise in the future. If a third party is also involved in a Claim between you and us, then the third party’s Claim will also be decided in arbitration, and the third party must be named as a party as required under the rules for the arbitration. The arbitrator will decide all issues, including the arbitrability of Claims or the scope, and enforceability of this agreement to arbitrate, the interpretation of the prohibition of class and representative actions, and non- individualized relief.

Any Claim that the Bank or you filed individually in a small claims court to recover an amount less than $5,000 is not subject to this agreement to arbitrate if the Claim remains in the small claims court’s jurisdiction and proceeds on an individual basis.

Arbitration Process
The party filing an arbitration claim must select either JAMS or the American Arbitration Association (“AAA”) as the arbitrator. That organization will apply its rules of procedure in effect at the time the arbitration claim is filed. If you initiate the arbitration, you must notify us in writing at CIBC Bank USA, 120 South LaSalle Street, Chicago, Illinois 60603, Attention: Legal Department/Legal Process.

If we initiate the arbitration, we will notify you in writing at your last known address. You can obtain the arbitration rules and additional information about initiating arbitration by contacting the following arbitration organizations:

American Arbitration Association
1-800-778-7879 Opens your phone app. (toll-free)
Website: www.adr.org

JAMS
1-800-352-5267  Opens your phone app.(toll-free)
Website: www.jamsadr.com

If there is a conflict between the rules of procedures and this agreement to arbitrate or the Account Agreement, this agreement to arbitrate and the Account Agreement will control. If JAMS or the AAA is unable to handle the Claim for any reason, then the Claim will be arbitrated by a neutral arbitrator selected by agreement of the parties pursuant to the AAA rules of procedure. If the parties cannot agree on an arbitrator, one will be selected by a court in accordance with the Federal Arbitration Act (the “FAA”).

A single arbitrator will conduct the arbitration and will use applicable substantive law, including the Uniform Commercial Code, consistent with the FAA and the applicable statutes of limitations or conditions precedent to suit, and will honor claims of privilege recognized at law. The arbitrator will have the power to award to a party any damages or other relief provided under applicable law.

Neither you nor we may disclose the existence, content or results of any arbitration except as required by Applicable Law, as necessary for judicial review or as we may be required in the ordinary course of our business.

The arbitrator’s decision will be final and binding on the parties. A party can file a written appeal to the arbitration administrator within 30 days after the award is issued. The appeal must request a new arbitration in front of three neutral arbitrators designated by the same arbitration administrator. Any final arbitration award will be binding on the parties and enforceable by any court with jurisdiction.

Costs and Expenses
The party initiating the arbitration will pay the initial filing fee. All other fees and costs will be allocated in accordance with the rules of the arbitration forum.

However, we will advance or reimburse filing and other fees if the arbitrator rules that you cannot afford to pay them or finds other good cause for requiring us to do so, or if you ask us and we determine there is good reason to do so.

No Class Actions and Representative Procedures

You and we agree not to: (i) seek to proceed on any claim in arbitration as a class claim or class action or other comparable representative proceeding; (ii) seek to consolidate in arbitration any claims involving separate claimants (except for claimants who are on the same account), unless all parties agree; (iii) be part of, or be represented in, any class action or other representative action brought by anyone else; nor (iv) seek any award or remedy in arbitration against or on behalf of anyone who is not a named party to the arbitration. If these terms regarding class or representative procedures are legally unenforceable for any reason with respect to a Claim, then this agreement to arbitrate will not apply to that Claim.

Governing Law, Severability and Amendments to this Agreement
You and we agree that our relationship includes transactions involving interstate commerce and that these arbitration provisions are governed by, and enforceable under, the FAA. To the extent State law is applicable, Applicable Law governs this agreement to arbitrate.

This agreement to arbitrate shall survive: (i) termination or changes to your Account or any related products and services we provide; (ii) the bankruptcy of any party; and (iii) the transfer or assignment of your Account, or any related products or services we provide.

No provision of this agreement to arbitrate may be amended (except notice information), severed or waived without a written agreement between you and us. If we had written notice of a Claim prior to the effective date of an amendment, the amendment will not apply to that Claim.

Opt Out Procedures
You have the right to opt out of this agreement to arbitrate if you tell us within 60 days of opening your account (or within 60 days of the effective date of this agreement to arbitrate, if your account was already open). If you want to opt out, write to us at Customer Service Department, CIBC Bank USA, 6825 West 111th Street, Worth, Illinois 60482.

The opt out notice must include your name, address and the Account number(s) to which the opt out applies. If you opt out of this agreement to arbitrate, all other parts of your Account Agreement continue to apply.

General terms

Consumer Deposit Accounts
The Bank offers a variety of checking, money market, savings, and certificate of deposit (also called certificates or CDs) Accounts. Detailed terms of your Accounts are included in the Deposit Account Disclosures included in this document. We recommend that you print and retain this page for your records. Account fees are stated in the Deposit Account Disclosures for your Account and other charges are listed in the Fee Schedule. The Deposit Account Disclosures and Fee Schedule are included as part of this document.

Interest
Current rate information may be obtained on our web site at us.cibc.com/agilitysavings or from the CIBC BANK USA Digital Service Team at 844-704-7882 during regular business hours. Interest will be credited directly to your Account unless otherwise provided in the Deposit Account Disclosures. Interest adjustments may not be made for amounts less than $1.00.

Transfer Limitations
Federal regulations restrict the number of transactions that can be made from savings and money market Accounts during each calendar month or four week statement cycle. You may only make up to six transfers or withdrawals by preauthorized, automatic, or telephone transfer to another Account of yours or to a third party. Preauthorized transfers are arrangements to pay a third party from your Account at a certain time or on a fixed schedule or by ACH requests. There is no limit on the number of transfers or withdrawals made in person, by mail, or at an ATM for payments to you, to us, or to your Accounts at the Bank. A fee applies to transactions that exceed these restrictions as stated in the Fee Schedule. The Bank may close your Account or transfer your funds to a different type of account if you continue to exceed these limitations.

Account Ownership
CIBC Agility Savings Account may be owned as Individual or Joint Tenancy Account.

Individual Accounts
An individual Account is owned by one person who holds the Account primarily for personal, family or household purposes. Unless there is specific written authorization approved by the Bank, only the person signing the signature card may withdraw funds from the Account or conduct any other Account transactions with the Bank. If the Account holder dies, the balance in the Account belongs to his or her estate. We require appropriate documentation before we release any funds to an estate.

Joint Tenancy Accounts
An Account with more than one Account holder will be established as a joint tenancy with right of survivorship under Applicable Law. Any funds deposited to the Account by any Account holder are considered owned by all of the joint tenants, with the right of survivorship, and not as tenants in common. The Bank may act upon the written direction of any one Account holder and may pay funds to any Account holder. Each Account holder may make deposits and withdraw from the Account. Any action by any Account holder shall be binding upon all Account holders. Each Account holder agrees to release the Bank from all liability in connection with any payments the Bank makes to any joint tenant. If a joint tenant dies, the balance in the Account passes to the remaining joint Account holders as joint tenants with right of survivorship. All account holders have equal rights in the Account, regardless of whose funds are deposited, except as specifically provided in this Account Agreement and to the extent that applicable laws govern the disbursement of funds upon death, divorce, bankruptcy, or in certain other situations.

People permitted to transact on an account

Power of attorney
At our discretion, we may permit a duly appointed agent under a power of attorney document to transact on your behalf on your Account in accordance with Applicable Law after the Account is opened. The power of attorney document must be acceptable to us. We may continue to honor the transactions of the agent until we receive, and have a reasonable opportunity to act on, written notice or actual knowledge of the termination of the agent’s authority or the death of the Accountholder. We are not responsible for any loss or damage you may incur because we followed instructions of an agent acting under a power of attorney.

Death or Incompetence
You must notify us immediately if any person who is authorized to conduct transactions on your Account dies or becomes legally incompetent. We may continue to honor Checks, Items and instructions on the Account until we have knowledge of the death or incompetent status and have a reasonable opportunity to act on that information. We may place a hold on the funds in the Account or prohibit further transactions until we receive acceptable documentation of the death or incompetence and who may transact on the Account.

Deposits
You may make deposits in person, by mail, or through other means we make available to you. Additional restrictions on deposits to Agility Savings Accounts are stated in the Deposit Account Disclosures included in this document. The Bank may refuse to accept or may return any Check or other Item for deposit, including those Items that are not properly endorsed. All Checks for deposit should be endorsed by everyone to whom they are made payable. We may accept any Item for deposit payable to any Account holder on the Account, even if it is not endorsed by you, and if an endorsement is made electronically or by other computer or mechanical device. You agree that the Bank may endorse and accept these Items and agree to hold the Bank harmless for supplying or guaranteeing your missing endorsement or for accepting illegible or improper endorsements on Items deposited into your Account. At our option, we may refuse Items that are endorsed by third parties or require that they be verified or guaranteed. You warrant that all endorsements are genuine. You authorize the Bank to accept any Item without a written signature, such as an electronic check conversion transaction with an electronic signature, that is converted to an electronic fund transfer, or where the Bank cannot examine the signature. The Bank is not bound by any conditional or restrictive endorsement on a Check you deposit, or for any endorsement "without recourse.”

We may choose to take an Item for collection rather than for deposit. If so, we will credit your Account for the Item when the Bank receives payment for the Item from the issuing bank. We will give you provisional credit for Checks and any other non-cash Items (including Items drawn on the Bank) deposited at the Bank until we receive final collection for the Item. We may reverse provisional or final credit for Items that are returned unpaid and may charge a fee for a returned deposited Item as provided in the Fee Schedule. You agree to pay any fees for collecting your deposit. If a deposited Item is returned unpaid, we may convert it to an electronic payment and redeposit it as an ACH entry. This conversion and any related fees will not be considered electronic fund transfers.

If any deposit made to your Account under a direct deposit plan is required to be returned to the depositor, including the Federal government, you authorize us to deduct the returned amount and any applicable fee from your Account, or any other Account you have with us, at any time without prior notice, except as prohibited by Applicable Law. We may also use any other legal remedy to recover these amounts.

Deposits received at our night depositories are not considered received by the Bank until we remove and record them. All transactions received after our “daily cut-off time” on a Business Day, or that we receive on a day we are not open for business, will be considered received on the next Business Day. Our daily cut-off times are stated at the end of this Account Agreement.

We are not liable for the loss or destruction of any Item we cash or collect for you or the conduct of another bank or person in connection with the Item. You agree to cooperate with us to locate or replace any Item that we lose or that is lost or misrouted during the collection process.

The Bank may charge your Account for the amount of an Item that is lost or misrouted during the collection process (and reverse any accrued interest in connection with the Item).

FDIC Deposit Insurance
Your deposits are insured up to the applicable limits under the Federal Deposit Insurance Corporation (“FDIC”) insurance coverage rules based on the category of account ownership. More information and tools to determine FDIC insurance coverage can be obtained from the FDIC on its web site at www.fdic.gov or by calling 1-877-ASK-FDIC Opens your phone app. or Opens your phone app.1- 800-925-4618 Opens your phone app. (for the hearing impaired). Our Bankers can also provide you with information about FDIC insurance coverage on your Accounts.

Withdrawals
Generally, any Account holder or Authorized Signer on an Account may withdraw or transfer all or any part of the available balance in the Account at any time. Your available balance is the balance in your Account after deducting 1) deposits that are not yet available for withdrawal, 2) pending transactions that the Bank has authorized but have not yet been paid from your Account, and 3) any holds on your Account. The available balance does not reflect any transactions that you have authorized but have not yet been paid from your Account. Additional restrictions on withdrawals from Accounts opened from Agility Savings Accounts are stated in the Deposit Account Disclosures included in this document.

Only one signature is required for withdrawals from any Account even if the signature card for the Account or other documents state that more than one signature is required.

We may refuse any withdrawal or transfer request that is not on forms required by the Bank, is by a method we do not permit, exceeds the frequency limitations, or is for an amount greater or less than any withdrawal limitations. We may close your Account for transactions that do not follow these requirements, even if we permit some of these transactions. We use the date the transaction is completed by us, not the date you initiate it, to determine the frequency of transactions.

We may require advance notice of large cash withdrawals and may require that you provide adequate security when you accept the cash. Under federal regulations, we may also require seven days prior written notice for withdrawals from an interest-bearing Account other than a demand deposit Account.

Posting Order and Payment of Items from Your Account
We generally process Items drawn on your Account on the Business Day they are received by us, in the following order:

• First, we will process wire transfers and cash withdrawals made at one of our branches; and
• Second, we will post ACH transactions.

Within each of these categories, Items without serial numbers will be paid in the order that we receive them.

The order in which Items are paid is important because it may result in Overdraft Fees or Non-Sufficient Funds (NSF) Fees if you do not have sufficient funds available in your Account to pay the Items.

Overdrafts
We have no obligation to pay any Item unless you have sufficient funds available in your Account to pay the Item when it is presented. If there are insufficient funds in your Account to pay the Item (excluding card transactions), we may, at our discretion, pay the Item and create an Overdraft in your Account or return the Item for non-sufficient funds. We may charge Overdraft Fees and Non-Sufficient Funds (NSF) Fees for paid or returned Items as stated in our Fee Schedule.

If we return the Item, we will charge a NSF Fee. We will charge your Account an Overdraft Fee if we pay the Item and your Account is overdrawn. We limit the maximum Overdraft Fees and NSF Fees per day as stated in the Fee Schedule. We will not charge an Overdraft Fee or a NSF Fee if your Account is overdrawn by $10.00 or less. A Daily Overdraft Fee is charged for each day your Account is overdrawn as stated in our Fee Schedule.

We encourage you to keep careful records to help you avoid authorizing debits to your Account without sufficient funds and incurring Overdraft Fees or NSF Fees.

Statements and Limits on Claims
The Bank will send or make your Account statements available to you at the current address listed in our records or electronically as separately agreed to with the Bank. If there is more than one Account holder, we will send the periodic Account statement to the first Account holder listed in our Account records, unless you direct us in writing to send the statement to a different Account holder. Contact us immediately if you do not receive your Account statement. See the Notices, Address or Name Changes section for information on changing your mailing address.

Your Responsibilities Regarding Statements and Unauthorized Transactions

This section does not apply to electronic fund transfers subject to Regulation E.

You are responsible for reviewing your Account statements, including all transactions, and notifying us of any errors, unauthorized signatures, alterations, forgeries, fraud, or other claims as soon as possible. If you do not contact us about an error or claim within 30 days from when we first send or make your statement available to you, the Bank is not liable for any claims for transactions or errors included in that statement. Also, if you do not notify us within this 30 day period, the Bank is not responsible for any additional Items with unauthorized signatures or alterations by the same person as those included in your statement. You agree not to bring any legal action or proceedings against us regarding any error or unauthorized transaction more than one year after the date we send or make available to you the statement, notice, or other record of the transaction. You must notify the Bank by calling us at Opens your phone app.844 704-7882 Opens your phone app. or writing to us at CIBC Bank USA, 6825 W 111th St. Worth, IL 60482, Attention: CIBC CIBC Bank USA Digital Services.

If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you must provide us with sufficient information, sign an affidavit, and cooperate with our investigation of your claim. You also agree to file a police report. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. You must pursue your rights against any other party related to your claim or, at our option, assign them to us so that we may pursue them. Any liability of the Bank for the claim will be reduced by the amount you recover or are entitled to recover from another party. 

If you fail to report an error or unauthorized transaction within 30 days after we make your account statement available to you, you are precluded from asserting the error or unauthorized transaction against us. Your failure to notify us within this time period will be deemed conclusive proof that you failed to exercise reasonable care in examining your statement.

Unauthorized Transactions or Errors for Electronic Fund Transfers or Substitute Checks
The period in which you must notify us if your statement shows an unauthorized transaction or error may be different for an electronic funds transfer or substitute check. For information on electronic fund transfers errors or unauthorized transaction claims refer to the consumer liability and error resolution provisions in the Electronic Funds Transfers section of this Account Agreement. For online banking transaction errors or unauthorized transaction claims, refer to the CIBC NetBanking Services Agreement.

Fees and Charges
You agree to pay any applicable fees and charges (including, but not limited to, Overdraft Fees and NSF Fees). We may deduct all charges in connection with your Account (collectively, “Charges”) directly from the Account balance immediately when incurred, without prior notice to you, even if this causes your Account to be overdrawn. Charges include fees listed in the Fee Schedule, reasonable charges for other services you request, Overdraft Fees, NSF Fees and any other charges to the Account. If there is more than one Account holder, you are liable both separately and together with all of the Account holders for any shortage in your Account due to any Charges, whether it is caused by you or someone else. Any future deposits into your Account, including direct deposits of social security or other government benefits, may be used to pay any Charges, including Overdraft Fees and NSF Fees, to the extent permitted by law. You are also liable for all of our costs in collecting these amounts, including our reasonable attorneys’ fees, except as prohibited by law.

Security Interest and Set Off
You grant us a security interest in all Accounts owned by you, either individually or jointly, now or in the future, with us or an Affiliate, regardless of the amount you contributed to the Account, to secure payment of all claims, including any Charges we may have against you or a joint Account holder. This applies regardless of whether another party is also liable for the claims and whether the claims relate to the Account, an overdraft protection plan, a credit agreement, or other circumstances.

We may set off the funds in your Account against any debt you or any owner of the Account owe us or an Affiliate and any claim related to the Account, now or in the future, without prior notice and as permitted by law. You agree that this includes the Bank's rights to set off against all future deposits to your Account, including direct deposits of social security payments or other government benefits. Debt based on a note includes the total amount that the Bank may demand at the time of set off, including any accelerated balance. This right of set off does not apply to: (a) IRA or other tax-deferred retirement Accounts, (b) a claim from a consumer credit card transaction, or (c) Accounts where you are acting in a representative capacity, except if the debt or claim pertains to that Account. We are not required to pay nor are we liable for any Item that is dishonored because we set off a debt against your Account and there were insufficient funds left to pay the Item. You agree to hold us harmless from any claim in connection with our exercise of our right of set off. All of our rights in this section also apply to any Affiliate.

The rights granted in this section are in addition to any other rights of the Bank, including the rights the Bank has under other security documents with you.

Our Liability
We are not liable for any actions we take based on your instructions. However, we may not follow your instructions and have no liability if we reasonably believe those instructions create liability for the Bank or do not comply with common banking practices or Applicable Law. You agree that we will only be liable to you to the extent we fail to act with ordinary care and those actions resulted in a direct financial loss to you. We will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages or lost profits or income under this agreement, even if we were advised or should have known of the possibility of those damages or losses. You agree that the Bank will not be liable to you for any Losses caused by something beyond our reasonable control including a natural disaster; adverse weather conditions; acts of God; acts of terrorism; emergency conditions; a legal constraint or governmental action or inaction; strike or labor stoppage; power failure; the breakdown of any communication or transmission facilities; or any suspension or failure of payments by another bank, including a Federal Reserve Bank.

Indemnification, Joint and Several Liability
In addition to the other terms in this Account Agreement, you agree to indemnify us and hold us harmless from all Losses pertaining to any third party claim related to your Accounts, this Account Agreement, your use of any Account and your breach of any of the terms of this Account Agreement. This indemnification does not apply to our conduct if we failed to exercise ordinary care. You agree that you are individually or jointly liable for any liabilities or Losses including, but not limited to, the indemnification obligations in this section that you or any other joint Account holder or signer may have to the Bank under this Account Agreement. You are liable regardless of whether another party is also liable for the claims and whether the claims relate to the Account, an overdraft protection plan, a credit agreement, or other circumstances.

Lost, Destroyed or Stolen Cashier's Checks
If you are the purchaser or payee of a lost, destroyed, or stolen cashier’s Check that has not been paid, you may ask the Bank to replace the Check (or refund the money used to purchase the check if you request a stop payment) 90 days after it was issued. You must complete our form and provide specific information about the Check. You must also provide us with sufficient identification. The Bank has no further liability for the Check after it is replaced or your money is refunded. The Bank, at its option, may replace the Check before the end of the 90 day waiting period. If the Bank replaces the Check prior to the end of the 90 days or stops payment of the Check, we may require that you provide sufficient indemnification, such as a surety bond or pledged account.

Electronic Funds Transfers
This section contains important information regarding electronic funds transfers (EFT) services, such as automatic deposits and other pre-authorized fund transfers to and from your deposit Accounts. This section does not apply to wire transfers and other transactions that are not governed by the Electronic Fund Transfers regulation issued by the Consumer Financial Protection Bureau.

Types of services
The types of EFT services we provide are listed below. Some of these services may not be available for certain types of Accounts. Please also see the Transfer Limitations subsection in the Consumer Deposit Accounts section of this Account Agreement for other limitations that apply to these services.

1. Electronic funds transfers. You may authorize a third party to send or receive electronic fund transfers between your Account and an account of a third party in the United States. These transfers may use the ACH or other payments network. You will need to provide your Bank and Account information to the third party to make these transfers (either over the telephone, the Internet, or through some other method). You should only provide this information to trusted third parties whom you have authorized to initiate these electronic fund transfers. You agree that all ACH transactions are bound by the rules and regulations of the National Automated Clearing House Association and any local clearinghouse used to process these transactions, as they may be amended.

Examples of electronic fund transfers include:

• Preauthorized credits. You may make arrangements for certain direct deposits, such as payroll and benefits payments, to be made to your Account. 
  
• Preauthorized payments. You may make arrangements for automatic one-time or recurring transfers for bill payments from your Account.
• If you have a deposit account at our Affiliate, CIBC (Canadian Imperial Bank of Commerce), and initiate funds transfers to or from your CIBC account through CIBC Online Banking to or from your Account at CIBC Bank USA, those transfers are governed by your agreements with CIBC, not your agreements with the Bank.

2. CIBC NetBanking. If you enroll in CIBC NetBanking, our online banking service, you may access your Account online by logging onto our website, us.cibc.com, and using your user identification and password to view your Account information and conduct authorized electronic transactions, including transfers between your designated Bank Accounts, and payments from your Account to a third party. The terms and conditions for CIBC NetBanking are contained in the CIBC NetBanking Services Agreement you receive when you enroll in our online banking service.

3. CIBC USA Telephone Banking. You may access your Account by telephone at 877-825-5554 Opens your phone app., using your personal identification number (“PIN”), to obtain certain Account information and transfer funds between Accounts you maintain with the Bank. We will not be responsible for any losses that you or others incur if we act on any request, order, or instruction we believe to be genuine. We may refuse to make any telephone request.

Documentation

1. 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 844-704-7882 Opens your phone app. or use CIBC NetBanking to find out whether or not the deposit has been made.

2. Periodic statements. You will receive a monthly Account statement from us.

Our Liability for Failure to Complete Transfers
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:

• If, through no fault of ours, you do not have enough money in your Account to make the transfer;
• If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; and
• There are other exceptions stated in the CIBC NetBanking Services Agreement.

Stop Payments for Preauthorized Transfers

1. Right to stop payments and procedures for doing so. If you have told us in advance to make recurring electronic payments out of your Account, you can stop any of these payments. To do so, call or write us at the telephone number or address listed at the end of this disclosure in time for us to receive your request three 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 within 14 days after you call. A Stop Payment fee will be charged. Please refer to our Fee Schedule for the amount we will charge you for each stop payment order you request.

2. 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.) We do not have to accept any requests for recurring payments from your Account if they vary in amount.

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

Unauthorized Transactions

1. Consumer liability for unauthorized transfers. Tell us AT ONCE if you believe that an electronic fund transfer has been made without your permission. Calling us is the best way of keeping your possible losses down. You could lose all of the money in your Account. If you tell us within two business days after you learn of the loss or theft, you can lose no more than $50.00. If you do NOT tell us within two business days after you learn of the loss or theft, and we can prove we could have stopped the unauthorized transaction if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped the unauthorized transaction if you had told us in time. We will extend this time period due to extraordinary circumstances (such as a long trip or a hospital stay).

2. Contact in event of unauthorized transfer. Call or write us at the telephone number or address listed at the end of this section if you believe a transfer has been made using the information from your Account without your permission.

Error resolution notice

In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed at the end of this section, 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.

Please provide us with the following:

• Your name and Account number (if any)
• 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
• 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 (90 days if the transfer involved a new Account, or a foreign-initiated transfer) to investigate your complaint or question. If we need additional time to investigate this matter, we will provide you with a provisional credit to your Account within 10 business days (20 business days if the transfer involved a new Account) 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.

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.

Confidentiality
We will disclose information to third parties about your Account or the transfers you make:

• Where it is necessary for completing transfers;
• To verify the existence and condition of your Account for a third party, such as a credit bureau or merchant;
• To comply with government agency or court orders;
• If you give us written permission; or
• As explained in our Privacy Notice included as part of this document.

Contact Information
To report unauthorized transfers, stop payments, or errors regarding your Account, please contact us at:

CIBC Bank USA
6825 West 111th St
Worth, Illinois 60482
Attention: CIBC Bank USA Digital Services

844-704-7882 Opens your phone app.

Wire and other Funds Transfers

Governing Rules
This section applies to electronic funds transfers that credit or debit your Account, including wire transfers, that are not governed by Electronic Fund Transfers Act and Regulation E issued by the Consumer Financial Protection Bureau and the Electronic Funds Transfer section of this Account Agreement. You agree that these electronic funds transfers are bound by any rules and regulations then in effect governing the system through which they are conducted. You agree to provide instructions for these funds transfers in writing or as we may otherwise require. We may refuse to originate any funds transfer for any reason at our sole discretion. You cannot cancel or amend funds transfer instructions after they have been accepted by us.

Notice
Credits or debits to your Account made by funds transfers will be listed in your periodic Account statement or other Account information made available to you. We will not be required to provide any other notice to you.

Payment and Final Settlement
If we do not receive final settlement for any funds transfer credited to your Account, you agree that we may reverse the credit to your Account. If we receive satisfactory documentation that a credit entry was made in error or for the wrong amount, we may debit your Account for the amount erroneously credited. You agree to reimburse us if you have insufficient funds in your Account and we are unable to reverse a credit to your Account if we do not receive final settlement or if we are unable to debit your Account for an amount that was credited erroneously. You also agree to pay us the amount of any fees and charges regarding any funds transfer described in this section.

Reliance on Account and Identifying Numbers
We are not responsible for detecting errors in any funds transfer instructions that you provide to us. You acknowledge that funds transfers may be made on the basis of an account number or other identifying number (including a bank transit routing number) we receive. We and any receiving bank (including any beneficiary’s bank and any intermediary bank) may rely on the account number or other identifying number of any bank, person, or bank account specified in the electronic fund transfer instructions even if these numbers identify a different bank, person, or bank account than named in the instruction. You are still obligated to pay the amount of the funds transfer regardless of these or other errors in the instructions.

Security Procedures
We offer certain security procedures for electronic funds transfers, including a “call back” or verification of the request. Your use of an electronic funds transfer constitutes your agreement that our procedures are commercially reasonable. You agree that we are not obligated to accept any instructions that are communicated to us other than in compliance with our approved methods and procedures and are not liable for refusing to act on instructions we do not accept.

Unclaimed Property and Dormant Accounts

We must turn over unclaimed or abandoned property to the State where the Account holder resides or as otherwise required in accordance with Applicable Law. Generally, the funds in your Account are considered unclaimed if you have not initiated any activity or written communication with us regarding your Account. The time period for determining when an Account is abandoned varies by State law.

We are not liable for the funds in your Account once they are turned over to the State. You must contact the State to reclaim them.

We will consider a checking, savings or money market Account dormant if there has been no customer contact or transaction activity for 24 months. Once an Account is dormant, we may stop sending Account statements to you. Our dormant Account fees are listed in the Fee Schedule. We must receive a written statement from the Account holder to reinstate a dormant Account.

Important Information about Procedures for Opening a New Account

To assist in protecting you against identity theft, as well as 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. This means that 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 for additional information, including your driver’s license or other identifying documents.

Cash Transaction Reporting

All financial institutions must gather and report information on certain types of cash transactions to help law enforcement agencies detect illegal activities. We must refuse to handle a transaction if you do not provide us with the information required to complete the report.

Backup Withholding/TIN Certification

We must report interest payments we make to you of $10.00 or more in a year to the Internal Revenue Service (IRS). Reportable interest payments include dividends, interest and bonus payments. If you do not certify the correct taxpayer identification number (TIN) on your Account, we are required to withhold and pay to the IRS a percentage of the interest earned on your Account. This is called backup withholding. We may also be required to begin backup withholding on your Account if the IRS informs us that you supplied an incorrect TIN or that you underreported your interest income.

Credit Verification

You agree that we may verify your credit and employment history at any time, including by obtaining a credit report from a credit reporting agency in accordance with Applicable Law.

Disclosure of Information

Unless prohibited by Applicable Law, our Privacy Statement, or an opt-out exercised in accordance with our Privacy Statement we may share information about you and your Account with our Affiliates and third parties.

Account Disputes

We may place a hold on the funds in your Account (and prohibit payments or withdrawal of the funds) if there are competing claims for the funds or other disputes involving your Account. We may keep the hold in place until we are satisfied that the dispute has been resolved. We are not liable for any Items that are dishonored due to a hold on your Account in connection with a dispute. Alternatively, we may pay the funds in the Account to an appropriate court for resolution of the dispute. We may charge your Account for all fees and expenses we incur in connection with disputes involving your Account (including reasonable attorneys’ fees and our internal expenses).

Legal Actions or Claims Affecting Your Account
If we are served with a subpoena, restraining order, levy, garnishment, citation to discover assets, search warrant, request for information from a government agency, or other court or administrative order pertaining to your Account (“Legal Action”), we will comply with that Legal Action. Any Legal Action is subject to our set off rights. If we determine it is appropriate, we may freeze (or place a hold on) the assets in the Account and not allow any payments out of the Account until we receive a final court determination regarding the Legal Action. We may freeze the assets in the Account even if the Legal Action does not involve all of the Account holders. We have no liability to you if there are insufficient remaining funds to pay Items because we withdrew or restricted access to the funds in your Account due to the Legal Action.

Your Account will be charged a fee for handling the Legal Action as stated in the Fee Schedule. We may also charge your Account for all additional fees and expenses we incur in connection with the Legal Action (including reasonable attorneys’ fees and our internal expenses).

Security
You must safeguard your Account number and any access device for your Account. If you learn that any of your Account information or access devices have been lost or stolen, you must notify us immediately. If you fail to protect this information or fail to provide us with notice, you may be liable for the entire amount of any loss from your Account. For more information on liability for unauthorized transaction claims for electronic fund transfers refer to the consumer liability provisions in the Electronic Funds Transfers section of this Account Agreement. If you authorize someone to transact on your Account or provide your access device to someone else, you are liable for all transactions made by that person until we receive written notification from you that the person is no longer authorized to transact on your Account and have a reasonable time to respond.

If you inform us that your Account information has been compromised, we may, in our sole discretion, without any liability to you, (i) close your Account and open a new Account for you; (ii) dishonor any Item you indicated may be lost or stolen; or (iii) pay any Item you instructed us to pay provided you have given us the Item number.

As part of our loss prevention program, we may freeze the balance in your Accounts pending an investigation if we suspect irregular, unauthorized, or unlawful activities in connection with your Account. If we freeze your Account, we will give any notice required by Applicable Law.

Electronic Instructions
At our discretion, we may not act on instructions you give us by facsimile (fax) transmission, e- mail message, or voice mail, unless we agree to do so in writing. No confidential information should be included in any information that you provide to us through these electronic means because these transmissions may not be secure.

Notices, Address or Name Changes
You must notify us of any change to your address or your name. Unless we agree otherwise, change of address or name must be made in writing by an Account holder or as permitted through our online banking services. We will mail notices to the most current address we have in our records. We may send notices to you electronically at the most recent email address that you provided to the Bank if you elected to receive notices electronically. If there is more than one owner on an Account, we may send notice to any one Account holder. Any notice or deposit mailed to us will be considered delivered when it is actually received by us based on our ordinary business practices. Except as otherwise provided in this Agreement, written instructions you provide to us for your Account remain in effect until we receive written notice from you to change them and have a reasonable amount of time to act upon your request.

If we receive notice from the U.S. Postal Service or its agents that your address has changed, we may send Account statements and other notices regarding your Account to that new address.

You agree that any notices that we send in accordance with this section, including any changes to the terms of this Account Agreement, will be considered effective notice to you. If we mail Account statements or other notices to you and they are not delivered or are returned to us, we will attempt to contact you by telephone. If we are unsuccessful in contacting you, we may place a hold on your entire account balance until you provide us with notification of your correct address. If we do not have a valid address for an Account for six months or more, we may consider your Account dormant or close the Account.

Electronic Communication and Documents
We may send to you any document for your Account in an electronic form if you have separately agreed with us to receive documents and notices electronically. This may include providing notices, disclosures, or statements to you electronically, instead of in paper form, to the extent permitted by Applicable Law.

Telephone Communication
To improve customer service and for accuracy, security, quality and training purposes, you agree that we may record and monitor your telephone communications with us or our representatives. If you provide us with your cell phone number as a contact number for your Account, you agree that we may contact you at that number. You agree that calls regarding your Accounts with us are not unsolicited.

Account Transfers
You may not transfer, pledge or assign your Account to someone else without our prior written consent. Unless we agree otherwise in writing, our right of set off or prior security interest has priority over any rights of the party to whom the Account is transferred, pledged or assigned. If we consent to a transfer, pledge or assignment, we are not required to notify you or anyone else before disbursing any funds from your Account in accordance with what we in good faith believe are the terms of the transfer, pledge or assignment.

Illegal Activities
You agree not to use your Account for any illegal activity, including unlawful internet gambling. We may refuse any transaction we believe may involve illegal activity and any transaction involving gambling.

Closing Your Account
We may close your Account at any time for any reason. If we close your Account, we will provide reasonable notice to you. Reasonable notice depends on the circumstances and may vary as required by Applicable Law. In some cases, such as when we cannot verify your identity or we suspect fraud, we may provide you with notice after the change is made or your Account is closed.

If we close your Account, we will send you a notice at the last address listed in our records and a check for any remaining Account balance after deducting all applicable Charges. We may dishonor any Items presented for payment on your Account after it is closed. You may close your Account at any time subject to the restrictions stated in the Deposit Account Disclosures. If you close your Account, you are responsible for leaving enough money in the Account to cover any outstanding Items to be paid from the Account. We may, but are not required to, reopen any closed Account if we receive a deposit to the Account. We may charge you a fee if you close your Account within 90 days of opening it as provided in the Fee Schedule.

After an Account is closed, we have no obligation to accept deposits or pay any Items, nor do we have any liability if we refuse to honor any Item drawn on the Account. We may inform consumer reporting agencies and other third parties of Accounts closed for misuse, such as excessive overdrafts or check kiting.

Amendments
We may change any term of this Account Agreement at any time. We will provide you with reasonable prior notice of these changes in writing or as otherwise permitted by Applicable Law. If we notify you of a change in any term of your Account and you do not close your Account when the change becomes effective, you have agreed to the new terms except as required by Applicable Law.

Governing Law
Your Account and this Account Agreement are governed by Applicable Law.

Conflicts
If this Account Agreement conflicts with any statements made by our employees, the terms of this Account Agreement will control. If there is a conflict between the terms of this Account Agreement and the terms of any of the Disclosures, the terms of the applicable Disclosure will control. If there is a conflict between the terms of this Account Agreement and Applicable Law, this Account Agreement will be considered changed only to the extent necessary to comply with the Applicable Law. If any term of this Account Agreement is unenforceable, it will remain enforceable to the extent permitted and all other terms of this Account Agreement will remain in effect.

Waiver
Any delay in enforcing our rights under this Account Agreement will not act as a waiver of our rights and will not affect your obligations under this Account Agreement. If the Bank waives any provision of this Account Agreement, that waiver will apply only on that occasion and does not change or amend the terms of this Account Agreement.

Illinois Offices - Cutoff times

With the exception of the Illinois offices listed below, if you make a deposit at an Illinois office on a business day that we are open and that occurs before 5:00 P.M. Monday through Thursday or before 6:00 P.M. Friday, we will consider that day to be the day of your deposit. However, if you make a deposit at an Illinois office (other than as listed below) after 5:00 P.M. Monday through Thursday, or after 6:00 P.M. Friday, 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 Illinois office before the times specified below in the following lobbies or at the following drive-ins on a business day that we are open, we will consider that day to be the day of the deposit. Deposits made at any of these Illinois lobbies or Drive-Ins after the times specified below, or on a day we are not open, will be considered made on the next business day we are open.

Lobby:

• Chicago, 120 S. LaSalle St. before 5:00 P.M. Monday through Friday
• Chicago, 149 E. Walton Pl. before 5:00 P.M. on Friday
• Oak Brook before 5:00 P.M. Monday through Friday
• Skokie before 5:00 P.M. Monday through Friday
• Winnetka Before 5:00 P.M. on Friday

Drive-In:

• Lake Forest before 5:00 P.M. on Friday
• Lincolnwood before 6:00 P.M. Monday through Friday
• Mount Greenwood before 5:00 P.M. on Friday
• Oak Brook before 5:00 P.M. on Friday
• St. Charles before 5:30 P.M. Monday through Thursday and 6:00 P.M. on Friday
• Worth before 5:00 P.M. on Friday

Effective July 2, 2018, the Illinois Offices - Cutoff Times will be revised as follows:

Cut-off time for deposits at Illinois offices will vary by location. The cut-off time for deposits is the closing time of the office where the deposit is made, which is no earlier than 4:00 P.M. local time Monday through Friday. If you make a deposit at an Illinois office before closing time 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 Illinois office on a Business Day after the closing time, or on a day we are not open, we will consider that the deposit was made on the next Business Day we are open. For a listing of offices locations and hours, please visit our website at www.cibc.com/us.

Offices Located Outside of Illinois - Cutoff Times

If you make a deposit at an office located outside of Illinois on a business day that we are open and that occurs before 4:00 P.M. Monday through Friday, we will consider that day to be the day of your deposit. However, if you make a deposit at an office located outside of Illinois after 4:00 P.M. Monday through Friday, or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

All times mentioned above for Illinois offices and for offices located outside of Illinois refer to the respective local times for each office.