©2020 Charles Schwab Bank, SSB. All rights reserved. Member FDIC. Equal Housing Lender. CC4069360 (0620-0N2E) APP37664-13 (04/20)
Page 2 of 3
activity in your account. All
Schwab Bank
transactions will appear on your applicable
Schwab Bank account statement(s) and may
appear on the Schwab.com website if you have
a Schwab Bank High Yield Investor Savings®
account or Schwab Bank High Yield Investor
Checking® account. You may also conrm a
Schwab Bank transfer by calling us at 1-888-
403-9000. From outside the U.S., please call
collect at 1-317-596-4502.
13. Canceling the Service
You may cancel the Service, as permitted,
through an Electronic Service or by simply
calling us at 1-888-403-9000. From outside the
U.S., please call collect at 1-317-596-4502.
When using an Electronic Service, cancellations
may be limited to only regularly scheduled
transfers. To process your request, we must
receive and acknowledge your cancellation
notice by 5:30 p.m. Eastern time at least
two Business Days prior to any scheduled
transactions. Schwab Bank reserves the right to
cancel the Service, at its election, for any
reason, without advance notice.
14. Stopping a Specific Transfer
If you have told us in advance to make On-
Request or Scheduled Transfers out of your
Schwab Bank account(s), you can stop any of
these payments. Call us toll-free, Monday
through Friday, by 5:30 p.m. Eastern time, at
1-888-403-9000. Alternatively, you may write to
us at Charles Schwab Bank, SSB, P.O. Box
982605, El Paso, TX 79998-2605. We must
receive your request at least three Business
Days before the payment is scheduled to be
made. If you call, we may also require that you
put your request in writing to us within 14 days
after the call. We will not charge you for such
stop requests. If these regular payments vary in
amount, the person or organization that you are
going to pay is required to tell you, 10 days
before each payment, when it will be made, and
how much it will be. If you order us to stop one
of these payments at least three Business Days
before the transfer is scheduled, and we do not
do so, we will be liable for your actual, reason-
able losses or damages.
15. Transfers to Third-Party Accounts
You may authorize transfers from your Schwab
Bank account to a third-party account, where
you are not an account holder, at another
nancial institution. You agree to indemnify
Schwab Bank against any loss or damage
incurred by Schwab Bank resulting from a
transfer of funds between the two accounts.
Communications between Schwab Bank and the
account holders of any third-party account are
limited to cancellation of the Schwab Bank
service with that third-party account. A third
party may make no other requests for changes to
the authorization that you have provided to us.
The Schwab Bank Service is not intended for bill
payment and we may refuse to facilitate certain
transfer requests. Please call a Schwab Bank
Representative for details.
16. Statement of Schwab Bank’s Position on
Waivers
No course of dealing, nor any failure or delay in
Schwab Bank’s exercise of any right under these
Terms and Conditions or any right available by
law or in equity, shall be deemed a waiver of
such right. No waiver or consent in any instance
by us shall be deemed a waiver or consent by us
in any later instance.
17. Joint Accounts
If there is more than one account holder, each
account holder is jointly and severally liable for
obligations and transactions resulting from the
Service. As stated in your Account Agreement
with Schwab Bank, each joint account holder
has authority, acting individually and without
notice to any other account holder, to deal with
us as fully and completely as if the account
holder is the sole account holder. We are
authorized to follow the instructions of any joint
account holder and to transfer funds in such
accounts to any joint account holder or upon any
account holder’s instructions. We are not
responsible for determining the purpose or
propriety of an instruction we receive from any
account holder or for the disposition of
payments or deliveries among joint account
holders. We reserve the right to require written
instructions from all account holders, at our
sole discretion. We reserve the right, but are not
obligated, to place restrictions on an account in
the event we receive notice of a dispute among,
or conicting instructions from, joint account
holders.
Any notice we send or transmit to one account
holder will be notice to all account holders.
18. Changes in Account Ownership
These Terms and Conditions will remain in effect
until you cancel the Service, even if there is a
change in the ownership status of your Schwab
Bank account or your Other Account.
19. Other Agreements
Your use of the Service is also governed by
other agreements that you have consented to as
a Schwab Bank customer. (For example, your
Schwab Bank Deposit Account Agreement
contains an arbitration section.) These
agreements may be obtained by contacting
Schwab Bank. You should review those
agreements for any applicable fees, restrictions,
or obligations that might affect your use of an
account with the Service.
20. Construction
The term “you” means the Schwab Bank
customer(s) contracting for the Service and
anyone authorized under the applicable Schwab
Bank Deposit Account Agreement (such as a
joint account holder or authorized agent) to
instruct Schwab Bank with respect to transac-
tions in the account.
21. Disclosure of Account Information
We may disclose your name and/or information
about your account or your transactions to our
agents and afliates in order to facilitate your
transfer requests. We may also disclose such
information to third parties in certain circum-
stances, which may include: (a)to banks, and
other entities that are involved with the products
or services we offer or arrange on behalf of
customers; (b)when it’s requested by a third
party to complete a transaction; (c)to verify the
existence or condition of your account for a
credit bureau or merchant; (d)to comply with
a subpoena, court order or request from a
government agency or law enforcement
authority; (e)to evaluate your creditworthiness
or our ability to collect any debt you owe us; or
(f)if you give us your permission.
22. Our Liability for Failure to Complete
Transactions
If we do not complete an electronic funds
transfer to or from your account on time or in the
correct amount according to our agreement with
you, we are liable for your losses or damages.
There are some situations in which we are not
liable. We are not liable, for instance, if:
• Through no fault of ours, you do not have
enough money in your account to complete the
transaction.
• The transaction amount would exceed the
funds available under your overdraft protection
option, if any.
• Circumstances beyond our control (such as re
or ood) prevent the transfer, despite
reasonable precautions that we have taken.
• The system was not working properly, and you
knew about it when you started the transaction.
• Any Automated Clearing House network or
other third-party communication system from
which we require information to complete
transactions was not working properly.
• Your account is restricted (because of a court
order or similar reason), and we are not permit-
ted to make the transaction.
• An error in posting an amount or transaction
occurs that is beyond our control.
• An account becomes dormant, in which case
we may eliminate Check Card access to that
account.
• Your Access Code has been revoked due to
inactivity or at our discretion.
There may be other exceptions permitted by law.
23. Consumer’s Liability for Unauthorized
Transfers
Tell us AT ONCE if you believe your user
identication or password (access codes) has
been lost or stolen, or if an unauthorized person
has learned your access codes or has trans-
ferred or may transfer money from your account
without your permission. You can notify us by
calling or writing Customer Service: Charles
Schwab Bank, SSB, P.O. Box 982605, El Paso,
TX 79998-2605. Call toll-free: 1-888-403-9000.
Telephoning immediately is the best way of
minimizing your possible losses. For accounts
with more than one authorized signer, we may
accept this report from any authorized signer. If
you tell us within two Business Days after you
learn of the loss or theft, you can lose no more
than $50 if someone used your access codes
without your permission or for an unauthorized
electronic funds transfer. However, you could
lose as much as $500 if:
• You don’t tell us within two Business Days
after you learn of the loss or theft of your
access codes; and
• We can demonstrate that we could have
stopped someone from using your access codes
without your permission if you had told us.
ST
