Deposit

Account Agreement
Effective March 20, 2022

Questions about your Account?

1-800-347-7000

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©2022 Discover Bank, Member FDIC BK.DBATAGT.L.0322

Thank you for choosing Discover Bank®. This Deposit Account Agreement Deposit Account Agreement
includes the terms and conditions you need to know about your Discover Effective March 20, 2022
Bank deposit accounts.
Table of Contents
Please read this Agreement carefully. This Agreement covers, among other 1 DEFINITIONS/INTRODUCTION 1
things: 2 CUSTOMER INFORMATION AND ELIGIBILITY 2
Our obligations to you
3 AGREEMENT ACCEPTANCE/W-9 CERTIFICATION 3
Your obligations as an Accountholder
4 FDIC INSURANCE 5
How we may amend the Agreement and send you notices and
5 INTEREST 5
disclosures
Your agreement to waive a jury trial 6 ACCOUNT OWNERSHIP 8
Your agreement to arbitrate disputes by binding arbitration (and your 7 DISCOVER STUDENT DEPOSITS PROGRAM 12
right to reject arbitration) 8 INCOME TAX REPORTING AND WITHHOLDING 12
Your agreement to waive your class-action rights 9 CHECKS 14
Limitations on our liability to you 10 DEPOSITS 15
Our mutual agreement that Delaware law will control this Agreement 11 WITHDRAWALS 18
12 CASHBACK DEBIT REWARDS AND INCENTIVES 21
You can always call our knowledgeable customer service team anytime at 13 DEBIT CARDS 23
1-800-347-7000. Our U.S.-based customer service agents are always 14 FUND TRANSFERS 25
available to answer your questions, explain things, and take the time to 15 FUNDS AVAILABILITY (HOLDS) 27
help you find ways to make the most of your money. 16 STOP PAYMENT ON CHECKS 31
17 ACCOUNT TRANSFER OR ASSIGNMENT 31
18 STATEMENTS AND ERROR RESOLUTION 31
19 CD RENEWAL OPTIONS 33
20 RIGHT OF SET-OFF 34
21 OVERDRAFT PROTECTION SERVICE 34
22 POWER OF ATTORNEY 34
23 PRIVACY AND DISCLOSURE OF ACCOUNT INFORMATION 35
24 ACCOUNT CLOSURE 35
25 TRANSACTION CORRECTIONS, REVERSALS, AND DELAYS 37
26 AMENDMENTS, ACCOUNT CHANGES AND NOTICES 37
27 ELECTRONIC FUND TRANSFER (EFT) 37
28 ERROR RESOLUTION – ELECTRONIC FUND TRANSFERS 39
29 WAIVERS 40
30 LEGAL PROCEEDINGS 40
31 ABANDONED ACCOUNTS 40
32 SEVERABILITY 41
33 TELEPHONE COMMUNICATIONS 41
34 LIMITATION OF LIABILITY 41
35 ARBITRATION OF DISPUTES 41
36  EARLY WITHDRAWAL PENALTIES; MINIMUM ACCOUNT
REQUIREMENTS AND SERVICE CHARGES 44
Deposit Account Agreement This Agreement, together with any amendments or addendums to these
terms and conditions or other agreements with respect to specific
Effective March 20, 2022 products or services that we provide you concerning your Accounts and
(1) DEFINITIONS/INTRODUCTION related products and services, governs your Accounts with Discover
The following is a list of terms used throughout this Deposit Account Bank. Please read and keep this Agreement for your records. You agree
Agreement (“Agreement”): to use your Accounts only for personal, family, or household purposes
and not for business or other non-personal purposes. Deposit accounts
“Account” means your Discover Certificate of Deposit Account
established for business purposes are governed by a separate agreement.
(“Non-IRA CD Account”), Discover Individual Retirement
You accept this Agreement as described in Section 3. This Agreement
Arrangement Certificate of Deposit Account (“IRA Account”),
supersedes any prior agreements or communications that you may have
Discover Cashback Debit Account (“Cashback Debit Account”),
had with us. The headings contained herein are provided for convenience
Discover Personal Checking Account (branch only, also referred to
only and are not substantive terms.
as “Branch Checking Account”), Discover Money Market Account
(“Money Market Account”), and/or Discover Savings Account Your Account is subject to applicable clearinghouse rules. Your Account
(“Savings Account,” which includes Discover IRA Savings, Discover is being opened in and is located in Delaware. Except where noted, your
Statement Savings Account (branch only) and Discover Online Account and this Agreement are governed by Delaware and Federal
Savings Account, as applicable); law. If Delaware and Federal law are inconsistent, or if Delaware law is
preempted by Federal law, then Federal law governs. You may reject the
“Branch” means the Discover Bank retail banking office in
Arbitration of Disputes agreement, as set forth in Section 35(j), including
Greenwood, Delaware;
the waiver of your right to a jury trial. You must follow the procedures set
“Business Days” are Monday through Friday, excluding Federal forth in Section 35 if you want to reject the arbitration agreement.
Reserve Bank holidays;
(2) CUSTOMER INFORMATION AND ELIGIBILITY
“CD” includes both “Non-IRA CD Account” and “IRA CD Account,”
(a) Customer Information
unless otherwise specified;
To help the government fight the funding of terrorism and money
“Debit Card” means a Discover Cashback Debit Account Debit Card, laundering activities, Federal law requires financial institutions to
a Discover Branch Checking Account Debit Card or a Discover obtain, verify and record information that identifies each individual
Money Market Account Debit Card; and entity that opens an account.
“Discover Student Deposits Program” means Cashback Debit What this means for you:
Accounts opened through the RefundSelect℠ and eRefunds When opening an Account, we will ask you to provide your name,
PLUS™ Program; U.S. physical address (no P.O. Boxes), Social Security Number
“EFT” means Electronic Fund Transfer; (“SSN”) or Employer Identification Number (“EIN”), Date of Birth for
“Existing Customer” means a customer who has a Discover individuals, and other information that will help us to identify you.
Cashback Debit, Branch Checking, savings or money market You may also be asked to provide a copy of your driver’s license,
account open and funded for at least 30 days; state ID card or other identifying documents.
“IRA” includes an IRA CD and an IRA Savings Account, unless It is your responsibility to maintain and promptly update any
otherwise specified; changes in the identifying information you provided to us at
Account opening or during the time your Account is open. Some
“New Customer” means a customer who has not had a Discover
identifying information, such as physical address, mailing address,
Cashback Debit, Branch Checking, savings or money market
phone number, and email address, can be updated online through
account open and funded for at least 30 days;
the Account Center or you can update this information by calling
Taxpayer Identification Number (“TIN”) means an identification us at 1-800-347-7000.
number used by the Internal Revenue Service (IRS). For purposes
(b) Eligibility
of this Agreement, the term includes Social Security Number
(i) To open a new Account, each Account owner must be a U.S.
(“SSN”), Employer Identification Number (“EIN”), and Individual
citizen, U.S. resident alien or other U.S. person, and at least 18 years
Taxpayer Identification Number (“ITIN”).
old, and have a valid SSN or EIN and a valid physical U.S. address. To
“we”, “us”, “our”, and “Discover” refer to Discover Bank, a Delaware- open an Account under the Delaware Uniform Transfer to Minors
chartered bank; Act, you must be at least 21 years old.
“you”, “your”, and “Accountholder” refer to each person or entity in (ii) You (for joint Accounts, the Primary Accountholder as defined
whose name an Account is held or who has authority to operate in Section 3) are required to be Account Center registered to open
the Account, as well as any permitted assignee or successor in and maintain your Cashback Debit Account. Failure to register and
interest to the Account. maintain registration in the Account Center will result in closure of

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 your Cashback Debit Account. You will be required to download b. For Accounts opened by phone, fax, mail or at the Branch,
the Discover App in order to open a new Cashback Debit Account. W-9 certification can either occur online for eligible
(iii) There are additional eligibility requirements for the Discover accounts, on the Signature Card, or on the application.
Student Deposits Program. Please see Section 7 for more details. (iii)(a) New IRA Plans: (1) If you open a new IRA Plan(s), you will have
(iv) We may obtain information about you from third parties, 60 days (starting with your IRA application date) to return the
including credit or other consumer reporting agencies that will correctly and fully completed IRA application and Signature
help us determine if we will open the Account you have requested. Card (“IRA Documents”). You will have an additional 60 days
from the date we receive the completed IRA Documents to
This may include verification of employment and credit or other
return the IRA contribution form(s) (“Contribution Form(s)”) and
consumer reports or other reports from account information
fund your IRA. If we do not receive the signed IRA Documents
services. These inquiries may delay account opening. If you
within 60 days from your application date, or if we do not
apply for an account and we decline to open one as the result
receive the Contribution Form(s) and funding within 60 days
of information from a consumer report or another report from a
from the date we receive the signed IRA Documents, your
consumer reporting agency, we will tell you the name, address and
application will be deemed abandoned and your IRA will not
phone number of the consumer reporting agency.
be opened. If you provided ACH funding instructions or internal
(v) We do not open or maintain Accounts for customers with transfer funding instructions during the IRA application process,
foreign tax status (e.g., W-8 filing status). We only open and maintain the instructions will be executed once the correctly and fully
Accounts for consumers who can certify their W-9 status. If you executed IRA Documents and Contribution Form are received
notify us that you are no longer eligible to W-9 certify, we will close by us. Any type of contribution received prior to our receipt of
your Accounts as described in Section 24. the IRA Documents and Contribution Form will be returned.
(vi) There may be additional eligibility requirements imposed at However, if a check is received prior to the receipt of the IRA
our discretion. We reserve the right to decline to open an Account Documents or the Contribution Form, we will hold it for up to
for you for any lawful reason. 30 days. If the correctly and fully executed IRA Documents
and Contribution Form are not received, the check will be sent
(3) AGREEMENT ACCEPTANCE/W-9 CERTIFICATION back to the address noted on the application after 30 days.
As a condition to open and maintain an Account with us, you must do IRA funding checks will not be deposited and no interest will
the following: be paid until the IRA is opened. We are entitled to a reasonable
(i) Indicate your acceptance of the Agreement. amount of time after receipt of your IRA Documents and
a. For Accounts opened online, the acceptance of the Contribution Form to process them, open your IRA, and post
Agreement is included as part of the online application. your contribution. (2) If you revoke a new IRA Plan(s), you will
have 10 days from the date we receive your fully completed IRA
b. For Accounts opened by phone, fax, mail, or at the Branch, application. If you choose to revoke your IRA Plan during those
the acceptance of the Agreement can either occur online 10 days, we will close all of your IRA accounts in the revoked IRA
for eligible accounts, on the Signature Card, or on the Plan and return any funds to you without interest. For IRA CD
application. We must receive your acceptance of the Accounts, we will also waive the applicable Early Withdrawal
Agreement before any debits, including withdrawals, Penalty.
are permitted on your Cashback Debit Account, Branch
Checking Account, Online Savings Account, Statement (b) For Existing IRA Plans: If you open an IRA under an existing
Savings, Money Market Account, or Non-IRA CD Account. IRA Plan, you will have 60 days starting with the application date
to return the Signature Card and Contribution Form and fund
c. You also accept the Agreement by opening or using the
your IRA. If we do not receive the signed Signature Card, signed
Account.
and correctly completed Contribution Form and funding within
(ii) Complete W-9 Certification. If we do not receive a completed 60 days starting with the application date, your application will
W-9 certification from the Accountholder whose name appears be deemed abandoned and your IRA will not be opened. If you
first on the Account (“Primary Accountholder”) or already have provided ACH funding instructions or internal transfer funding
a signed W-9 on file, the Account(s) may be subject to backup instructions during the application process, the instructions
withholding, as set forth in Section 8(b), or we may close the will be executed once the correctly and fully executed
Account(s) and return the funds to you, without interest, by mail Signature Card and Contribution Form are received. Any type of
or other reasonable means as determined by us and you will not contribution received prior to our receipt of the Signature Card
be entitled to any special incentives that may have been offered and Contribution Form will be returned. However, if a
to you for opening your Account. check is received prior to the receipt of the Signature Card
a. For Accounts opened online, W-9 certification is included as and Contribution Form, we will hold it for up to 30 days. If the
part of the online application.
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 correctly and fully executed Signature Card and Contribution (a) Certificates of Deposit
Form are not received, the check will be sent back to the IRA (i) Non-IRA CD Accounts
Plan mailing address after 30 days. •The maturity date or term, interest rate and annual percentage
We are entitled to a reasonable amount of time after receipt yield (“APY”) in effect on your application date for your
of your Contribution Form and contribution to process them, Non-IRA CD Account will be disclosed to you at the time of
open your IRA, and post your contribution to it. application. However, maturity date, the interest rate and
APY on your Non-IRA CD Account will be determined and the
(c) If you open a new IRA Plan or a new IRA under an existing
interest rate will be fixed based on your funding date, not your
IRA Plan for a prior year contribution, all documents, including
application date.
the correctly completed IRA application, Signature Card and
Contribution Form must be returned to Discover Bank, along •O
 nce we receive funding for your Non-IRA CD Account, your
with the prior year contribution, and received and processed interest rate and APY will be determined as of the date of
by us by the tax filing deadline. We are entitled to a reasonable receipt of the funds and the interest rate will be fixed for the
amount of time after receipt to process your prior year term of the Non-IRA CD Account.
contribution and post it to your IRA. If funding via check, the • If we receive your Non-IRA CD Account funding within ten
check must be postmarked on or before the tax filing deadline. (10) days starting with the date your application is submitted,
(iv)For Formal Trust Accounts, as defined in Section 6(c)(i), we your Non-IRA CD Account interest rate and APY will be the
must receive a correctly and fully completed Formal Trust highest of the interest rates we offered (applicable to your
Account Application and Trustee Certification Form (“Trust Non-IRA CD Account) on either: (1) the date you submitted
Documents”) before we will open your Account. If a check your application, (2) the date your Account was opened, or (3)
is received prior to the receipt of the correctly and fully the date we received your funding. If we receive your funding
completed Trust Certification Form, we may hold it for up to 30 more than ten (10) days (including your application date) after
days. If the correctly and fully completed Trust Documents are your application date, your Non-IRA CD Account interest rate
not received, the check may be returned. Formal Trust Account and APY will be the interest rate and APY we offer (applicable
funding checks will not be deposited and no interest will be to your Non-IRA CD Account) on the date we receive the
paid until the Formal Trust Account is opened. funding. Please note, even though you are provided with an
Account number to facilitate funding, and you may receive
(4) FDIC INSURANCE communications thanking you for opening an Account, the
Funds in Discover Bank Accounts are insured by the Federal Deposit Account is not considered open until we receive the funding
Insurance Corporation (“FDIC”) to the maximum for the Account.
allowed by law. For more detailed information on FDIC •The interest rate, APY, and maturity date for your Non-IRA
insurance coverage, contact the FDIC directly by visiting CD Account will be confirmed in your Welcome Kit.
www.fdic.gov or by calling 1-877-ASKFDIC (1-877-275-3342), (TDD:
1-800-925-4618). •You will have 45 days to fund your non-IRA CD Account
starting from the date you apply for the account.
(5) INTEREST (ii) IRA CD Accounts
• Interest is compounded daily, credited monthly, and calculated •Your IRA CD Account maturity date and interest rate is fixed for
on a 365-day basis for interest-bearing Accounts. the term of your IRA CD Account.
• We use the daily balance method to calculate the interest on your •Your IRA CD Account interest rate and APY are determined at
Account. This method applies a daily periodic rate to the balance the later of when (i) a correctly completed IRA application,
in the Account each day. Signature Card, and Contribution Form have been received by
• If we receive your deposit before your non-IRA Savings, Money us and (ii) your IRA CD Account has been funded.
Market, or non-IRA CD Account is opened, interest will begin • We will send you written confirmation of the interest rate, APY
to accrue on the deposit on the Business Day your Account is and maturity date of your IRA CD Account after it is opened
opened. Once an Account is opened, interest begins to accrue on and funded.
a deposit on the Business Day we receive your deposit.
(iii) Interest Earned During the Grace Period
• For contributions to an IRA under an IRA Plan, interest begins Interest will not accrue during the Grace Period (as defined
to accrue on a contribution on the Business Day we post the in Section 19); however, if some or all of your CD is renewed, a
contribution to your Account. See Section 3(iii) for additional catch-up accrual will be processed at the end of your Grace
information regarding opening an IRA and a new IRA Plan and Period for interest earned at the interest rate that was in effect
Section 10(f) regarding contributions to an IRA Savings Account. on the date your CD matured (the “CD Renewal Rate”). The
catch-up accrual will be calculated as follows:

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 a. If your CD renews automatically (the default setting), or (iii) IRA CD Accounts:
as a result of your affirmative instructions, interest at the • During the term of your IRA CD Account, interest earned on
CD Renewal Rate will be applied to the amount of your and posted to your IRA CD Account may: (i) remain in your
renewed CD at the end of your Grace Period retroactively IRA CD Account, (ii) be transferred to an eligible Discover
to the start of your Grace Period. Account that you own, subject to you providing written
b. If a partial withdrawal is made during the Grace Period, the distribution instructions or (iii) be transferred to an external
withdrawn funds will earn interest at the CD Renewal Rate bank account at another financial institution, provided
from the maturity date to (and including) the day before that the financial institution allows such transfers and you
the withdrawal. have provided us completed distribution instructions. For
c. If you add to your principal during the Grace Period, interest transfers to an external bank account, the transfer
(1) interest at the CD Renewal Rate will be applied will be initiated on the date the interest is posted to your
retroactively to the start of your Grace Period for the IRA CD Account each month and will be delivered to the
original principal amount, and (2) interest at the CD external bank.
Renewal Rate will begin to accrue for the amount that you (b) Money Market Accounts and Savings Accounts
add as of the date of the additional deposit. Your Money Market Account or Savings Account earns interest
Interest will not be earned during the Grace Period if you at interest rates established by us on a daily basis. Money Market
elect not to renew your CD as specified in Section 19. Account interest rates and APYs are based on your account
balance and the applicable balance/interest rate tier. At our
(iv) General
discretion, we may change the interest rate and APY on your
(a)(i) General CD Terms:
Money Market Account or Savings Account at any time. Any
• Any confirmation letter or notice you receive after opening a change in the interest rate and APY will be effective on the date of
CD Account is not a certificate or other instrument and is not such change. Interest is accrued daily after debits and credits are
transferable, except on our records. posted to your Account.
• The APY assumes interest remains on deposit until maturity. (c) Checking Accounts
•A withdrawal of interest or principal will reduce earnings. A Cashback Debit Account and Branch Checking Account do not earn
• Interest will be paid to and remain in your CD if: interest. However, special promotion bonuses and credits may be
treated as interest for tax information reporting and other purposes.
– You do not specify an interest disbursement option;
– The Account designated to receive interest payments is (6) ACCOUNT OWNERSHIP
closed; or The following chart sets forth the account type and eligible
ownership categories:
– Interest payments are returned.
Online
(ii) Non-IRA CD Accounts:
Cashback Savings
• During the term of your Non-IRA CD Account, interest Debit and and
earned on and posted to your Non-IRA CD Account may: Branch Statement Money Non-IRA
Checking Savings Market CD IRA
(i) remain in your Non-IRA CD Account, (ii) be sent via
Individual
an official bank check, (iii) be transferred to an eligible Account P P P P
Discover Account that you own, or (iv) for Non-IRA CD
Joint
Accounts currently enrolled, be transferred to an external Account P P P P
bank account at another financial institution, provided Formal Trust
that the financial institution allows such transfers. Non- Account P P
IRA CD Accounts currently enrolled in the external bank Informal Trust
P P P P
Account (POD)
account interest disbursement option will continue to
receive interest under this method. Any change in interest Custodial
Account P P P
disbursement for Non-IRA CD Accounts will be limited to
Estate
options (i), (ii), and (iii) above. For interest transfers to an Account P P
external bank account, the transfer will be initiated on the Individual
date the interest is posted to your Non-IRA CD Account Retirement
Account
P
each month and will be delivered to the external bank.
Guardianship
Account P P P

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You may not open more than one (1) Cashback Debit Account release us from all liability in connection with any instructions or
per customer, including individual and joint Accounts. For current payments we receive from any other owner of the joint Account.
Cashback Debit Account customers whose Accounts were opened •Each owner of a joint Account appoints each of the other owners
prior to the effective date of this Agreement, the limit will not of the joint Account as his or her agent and attorney in fact with
apply to your existing accounts, but no additional Cashback Debit power to endorse and deposit items payable to him or her in the
Accounts may be opened unless all of your existing Cashback joint Account.
Debit Accounts are closed.
If an owner of a joint Account makes adverse claims or demands
Except as to how ownership and beneficiary designations concerning the joint Account, we may, in our sole discretion, refuse
determine to whom we pay the account funds, we make no to recognize such claims or refuse to take action until the rights of
representations regarding the effect of ownership and beneficiary all interested parties have been resolved to our satisfaction and we
designations or whether such ownership and beneficiary are provided a copy of an agreement signed by all owners of the
designations are appropriate. If you have questions about the joint Account.
legal or tax implications of these ownership types, please consult
(c) Trust Account
your attorney or tax advisor. The following is a more detailed
(i) Formal Trust Account
description of the ownership categories.
A formal trust Account is an Account established in the
(a) Individual Account
name of a trust by a trustee appointed under a written trust
An individual Account is an Account held solely by one natural
instrument, such as a revocable living trust or testamentary
person (i.e., a living person) without a designated beneficiary.
trust. We will require you to execute a Trust Application and
(b) Joint Account a Trustee Certification Form, which we will provide to you,
• A joint Account is an Account held by more than one natural and we may require you to provide excerpts from the trust
person. All joint Accounts are established as joint tenancy with document or other documentation. Certain types of Trusts may
right of survivorship only. Joint tenancy with right of survivorship require additional documentation. We will act in reliance on the
means that if an owner of a joint Account dies, the balance in information contained in the Trustee Certification Form, and
the joint Account passes to the remaining owner(s) of the joint we undertake no obligation to either you or any beneficiary for
Account. We do not offer any other type of joint Account (i.e., complying with the terms of the trust document. We have no
tenants in common or tenants by the entirety). duty to monitor Accounts for formal trusts to ensure that the
• If a joint Account is established without the signature of one of the trustee(s) act according to the terms of the formal trust and/
joint owners, we are not obligated to accept instructions from that or in the best interest of the trust or trust beneficiary(ies). Note:
joint owner but may do so at our discretion, and you agree to hold There are certain types of Trusts that we do not support.
us harmless based on our reliance upon your designation of the (ii) Informal Trusts – Payable on Death (POD)/In Trust
joint owner for whom a signature was not provided. For (ITF) Account
•Any funds deposited to a joint Account by any of its owners shall •An informal trust account (sometimes called a Payable on
be owned by all joint owners. Death (“POD”), In Trust For (“ITF”), or Totten Trust Account) is an
•Each owner of a joint Account may deposit to, make withdrawals Account established by one or more natural persons naming
or transfers from, or issue stop payment orders with respect to the one or more natural persons as beneficiaries. Proof of death
joint Account without notice to or consent from any of the other that all owner(s) are deceased and additional documentation
owners of the joint Account. is required prior to distribution of the funds to beneficiaries.
•The joint Account may be closed by either joint owner. However, •To name a beneficiary on an Account, we may require you to
a joint owner may not remove another joint owner from the joint provide certain personal identifying information (for example,
Account. a Social Security Number and date of birth) of your beneficiary.
•Any action of one owner of a joint Account shall be binding upon •If you establish an Account as trustee for a third person
all owners of a joint Account. without providing a Trustee Certification form or presenting
• We may act upon the direction of one or more owners of the excerpts from the trust as may be requested, we will treat the
joint Account without notice to or consent from any of the other Account as an informal trust Account.
owners of the joint Account. •During their lifetime, the owner(s) of an informal trust account
• Each owner of a joint Account is jointly and severally responsible may deposit to and withdraw or transfer funds from the
and liable for the acts and omissions of each of the other owners Account, close the Account, change beneficiaries at their
of the joint Account. Each owner of a joint Account agrees to discretion or take any other permitted action with respect to
the Account as if the Account were an individual Account or a
joint Account, as applicable.
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 • A beneficiary of the informal trust Account is entitled to funds monitor or ensure that the Custodian is acting in the minor’s best
in the Account only if the beneficiary is living at the time all interest.
Account owners are deceased. (e) Estate Account
• Upon our receipt of proof of death that all owners are An estate Account is an Account opened in the name of a
deceased and additional documentation as required by us, the decedent’s estate by the estate’s personal representative. If the
funds in the Account will be distributed to each beneficiary (or estate has more than one personal representative, each personal
to his or her personal representatives or estate as applicable) representative represents to having the authority to act severally/
who survives the Account owners. If no beneficiary survives independently regarding the estate Account, including the power
the death of the Account owners, title to the Account will vest to order withdrawals from the Account.
in the estate of the last surviving Account owner. (f) Individual Retirement Account
• If you designate more than one beneficiary you may customize We offer Traditional and Roth IRA CD Accounts and IRA Savings
your elections for each beneficiary, in whole number Accounts. IRAs are also governed by a separate IRA Plan
percentages only (e.g., 5%, 10%) and they must total 100%. If Agreement and disclosures that we furnish to you at IRA Plan
you do not customize your elections, each beneficiary will opening. There are separate Plan Agreements and disclosures
receive an equal share of the funds from your Account. In the for Roth and Traditional IRA Plans. The required forms must be
case where you have 3 or 6 beneficiaries, some beneficiaries completed and returned prior to funding, as set forth in Section
will receive a fractional percentage more in order for the total 3(iii).
shares to equal 100%. (g) Guardianship Account
•If one or more of your designated beneficiaries pre-decease A guardianship Account is an Account maintained by a court-
you, the funds that would have been allocated to the appointed guardian on behalf of a person who is either a minor
deceased beneficiary will be distributed to the remaining or legally incapacitated (the “Ward”). We have no duty to monitor
living beneficiaries on a pro-rata basis. Accounts for guardianships to ensure that the guardian(s) act
•An informal trust Account may be owned individually or as according to the terms of the guardianship.
joint tenants with right of survivorship and is subject to section (7) DISCOVER STUDENT DEPOSITS PROGRAM
6(a) or 6(b), as applicable. (a) Program Description
(d) Custodial Account – Delaware Uniform Transfer to The Discover Student Deposits Program is no longer offered,
Minors Act but remains available only to university or college students who
A custodial Account is opened and maintained by an adult (the came to Discover Bank through the RefundSelectSM and eRefunds
“Custodian”) for the benefit of a minor, pursuant to the Delaware PLUS™ Program and received Title IV funds disbursements
Uniform Transfer to Minors Act (“DE UTMA”). Each custodial from universities or colleges where Discover offered its Student
Account may designate only one Custodian on behalf of one Checking Account.
minor. A successor custodian may be named for each custodial
(b) Criteria to Maintain Account
Account. Funds deposited into a custodial Account are irrevocably
To maintain your Discover Student Checking Account, a customer
granted to the minor on the date of the gift and are then owned
must meet the following school enrollment status requirement:
by the minor. The Custodian agrees to hold and use for the
minor’s benefit any funds deposited into the custodial Account •You must have been considered an enrolled student by your
until the minor reaches the age of majority, (presently, age 21), at university or college at some point in the past 24 months as
which point it is the responsibility of the Custodian to transfer the determined by Discover. In other words, if you are no longer
property to the minor pursuant to the DE UTMA. The minor will enrolled in school and remain unenrolled for 24 consecutive
not have authority to withdraw funds from the custodial Account. months, you will no longer be eligible to participate in the
Once we receive documentation showing that the minor has Discover Student Deposits Program.
reached the age of majority, we may at our sole discretion, but (8) INCOME TAX REPORTING AND WITHHOLDING
are not obligated to (i) restrict access to and/or limit transactions (a) Taxpayer Identification Number
on the account if the Custodian fails to transfer the property as We will use the Taxpayer Identification Number (“TIN”) described
required by law, (ii) accept direction from the minor with respect below for income tax reporting purposes:
to the closure or re-titling of the custodial Account and delivery of
the funds to the minor. Before accepting direction from the minor, (i) Individual Account (including informal trust accounts and
we may but are not obligated to, require the Custodian to agree IRAs): The TIN provided by the Accountholder.
to such action. We have no duty to monitor custodial Accounts or (ii) Joint Account (including informal trust accounts): The TIN of
the status of the Custodian or minor, nor do we have any duty to the Primary Accountholder.
(iii) Custodial Account: The TIN of the minor.
11 12
 (iv) Trust Account: The Employer Identification Number (“EIN”) (9) CHECKS
of the trust, or, if none, the TIN of the grantor. (a) Checks
(v) Estate Account: The EIN of the decedent’s estate or the •We reserve the right not to accept checks or deposits or
decedent’s TIN if the estate is not issued an EIN or the EIN withdrawal forms not provided by us.
is not provided to us. •C
 hecks may not be drawn against Savings Accounts or CDs.
(vi) Guardianship Account: The TIN of the Ward. •We reserve the right to refuse to honor any checks drawn
(b) Backup Withholding against your Account on which there is either no signature or a
We may be required by the Internal Revenue Service (“IRS”) to signature of questionable validity if we suspect the check was not
withhold interest or other reportable income on your Account(s) authorized by you.
if you do not furnish us with your correct TIN or do not properly • We reserve the right to pay any check before the date you have
certify that you are not subject to backup withholding (e.g., written on it (i.e., a postdated check) or if it is more than six (6)
complete the W-9) or if otherwise instructed by the IRS. months old (i.e., a stale check).
(c) State Tax Withholding •O
 ur check payment process is highly automated and we receive
(i) Cashback Debit, Branch Checking, Online Savings, checks in great volume. Although we inspect some checks and
Statement Savings, Money Market, and Non-IRA CD other items from time to time, at our discretion, you agree that
Accounts reasonable commercial standards do not require us to do so. If we
Y  our state of residence, as determined by your physical return a check because we believe it was not authorized by you,
address of record with us, will determine if you are subject to we are not liable to you even if the check was actually authorized.
state income tax withholding. Some states have no income We have no duty to prevent a check from being presented more
tax. For additional information and details that are specific than once.
to you on state tax withholding requirements, you should If a check drawn on your Account is presented for payment at our
consult a tax advisor or your state’s tax authority. Branch, by a person who is not a Discover deposit Accountholder
(ii) IRA Accounts (a “non-Discover customer”), you agree that we may require the
S  tate tax withholding laws on IRA distributions vary by state. non-Discover customer to provide identification as a condition
Therefore, when requesting an IRA distribution, any state for cashing a check drawn on your Account. You also agree
tax withholding will be based on your state of residence, as that we may refuse to pay any such check if the non-Discover
determined by your physical address of record with us. customer refuses to furnish such identification. Such refusal shall
•  For Traditional IRAs, your state’s tax laws may require that not be considered wrongful dishonor of the check by us. You also
we withhold a portion of the gross IRA distribution. agree that we may refuse to cash or otherwise honor any check
exceeding $5,000, which is presented to us at the Branch by any
•  For Roth IRAs, state tax is typically not withheld unless
person, even if the check is properly payable and that person can
requested by you.
verify his/her identity as the holder of such check. Such refusal
Even if you elect in writing not to have federal and/or state shall not be considered wrongful dishonor of the check by us.
income tax withheld, you are liable for payment of federal In such cases, the holder of the check is expected to deposit
and state income taxes, if applicable, on the taxable portion the check with his/her financial institution and have the check
of your distribution. You may also be subject to tax penalties presented to us through regular banking channels.
under the estimated tax payment rules if your withholding and
(b) Preauthorized Checks
payment of estimated tax, if any, are not adequate. We may be
You may allow a third party to create a check drawn against your
required to withhold more federal and/or state taxes on your
Cashback Debit Account, Branch Checking Account or Money
IRA distribution than you have requested in your withholding
Market Account by communicating your Account number to that
election. Your income tax withholding election will apply to
third party. However, if you choose to permit such a check, you
all distributions from your IRA Plan, including recurring and
agree: 1) to accept sole responsibility for ensuring that the amount
one-time distributions, from the time the withholding election
of the check is both authorized and accurate; and 2) that we are
is received and applied until you revoke and/or provide new
not liable if we either pay or refuse to pay any check that you have
withholding instructions for that plan. A change of address
authorized a third party to create if that check does not bear your
may cause a delay in processing an IRA distribution, if state
signature.
withholding requirements are impacted. For more information,
consult your tax advisor. (c) Check Conversion
You may authorize a merchant or other payee to use your
Cashback Debit Account, Branch Checking Account or Money
Market Account check as a source of Account information

13 14
 to initiate an electronic withdrawal from your Account. The Day. Deposits made between midnight and 9am ET on a
merchant/payee uses the check information, along with the Business Day will be processed the same Business Day.
transaction amount, to initiate an Automated Clearing House (viii) Early Pay. At our discretion and dependent on the timing
(“ACH”) debit transaction. Please note that this type of transaction of our Automated Clearing House (ACH) direct deposit
generally results in funds being withdrawn from your Account instructions, we may make funds from ACH direct deposits
faster than a normal check transaction. This type of transaction available to you before we receive final funds from your
from a consumer account is governed by the Electronic Fund payor. This feature is automatically available to Cashback
Transfer Act, and is subject to the Electronic Fund Transfer Debit, Branch Checking, Statement Savings, Online Savings,
disclosures found in Sections 27 and 28 of this Agreement. and Money Market customers who receive qualifying ACH
direct deposits (such as salary, pension, or government
(10) DEPOSITS
benefits) from a business, government entity or other
(a) General
organization. There is no fee for the service, and customers
(i) Deposits may be made by:
do not need to enroll. Not all ACH direct deposits are eligible
• Mailing a check to us for Early Pay, eligibility may vary between pay periods, and
• Mobile check deposit (subject to the Mobile Check Deposit transaction limits apply.
Service User Agreement Addendum) If your payor reduces or reverses the direct deposit, or we
• ACH transfer are otherwise unable to collect the funds, then you are
• Internal transfer responsible for returning the funds to us, even if you have
withdrawn the funds. We may withdraw any amount due as
• Wire transfer
a result of your withdrawal of uncollected funds from your
• Cash, checks or travelers checks in person at the Branch Account, even if it creates an overdraft. We may change
(ii) We will not accept mailed cash deposits. or terminate the Early Pay feature, in our sole discretion,
(iii) For posting times regarding check and cash deposits, see without prior notice.
the chart in Section 10(e). (b) Checks
(iv) W
 e reserve the right to refuse, limit or return any deposit. (i) Domestic Checks
Any non-cash items deposited to your Account (including •To help avoid returned checks, please make sure checks
items drawn “on us”) will be given provisional credit until submitted for deposit are payable to you and properly
final payment of the item. endorsed by all parties.
(v) T ravelers Checks: Travelers checks received by us for deposit • We reserve the right to reject all third party checks.
by mail or through the Branch Night Depository Box will be •You may be eligible to deposit checks using your mobile
returned to you. phone. Mobile check deposits are subject to the Discover
(vi) R
 eturned Deposited Items: We will reverse any interest, Bank Mobile Check Deposit Service User Agreement
accrued or paid, on any returned item. If the reversal Addendum, located in the Account Center.
results in your Account being overdrawn, the overdrawn • If you deposit a check that is returned to us unpaid, we will
amount is a Debt as described in Section 20. You also deduct the amount of the returned check from your Account
agree to indemnify and hold us harmless against: balance.
•a ny additional losses resulting from nonpayment of any •If you deposit a check that is returned for insufficient or
item cashed against or deposited into your Account and uncollected funds, we may re-present the check for payment
•a ll losses due to any preauthorized credit to your a second time without notice to you. At our discretion, the
Account that we do not receive. check may be re-presented electronically by us.
T hese losses include, but are not limited to, all related costs, (ii) Foreign Checks
expenses and reasonable attorney fees (including the cost of any •We reserve the right to refuse items payable in foreign
attorney employed by us), which, if incurred, are also a Debt. currency or drawn on a foreign bank located outside the
United States (“Foreign Item”).
(vii) You may use the Branch Night Depository Box for Money
Market, Cashback Debit, Branch Checking, Statement • If we accept a Foreign Item, we may accept it for collection
Savings, and Online Savings Account deposits only. All only and you bear all risks associated with the collection
deposits must be in a sealed envelope or bag. Night of the item, including any fees charged by other banks
deposits are processed during Business Days. Deposits associated with collection and any exchange rate risk.
made between 9am ET and midnight, or at any time on • We may not credit funds from a Foreign Item to your Account
a non-Business Day, will be processed the next Business until the first Business Day after we receive final payment
15 16
 for such funds from the paying bank. The paying institution deposited and no interest will be paid until the Contribution Form
determines if and when it will pay a Foreign Item that we is received.
accepted for collection.
• The Funds Availability policy set forth in Section 15 does not (11) WITHDRAWALS
apply to Foreign Items. (a) Product Restrictions
(i) CD Withdrawals and IRA Distributions
(c) Endorsements
(a) CD Interest
If any check deposited to your Account does not have your
See Section 3 and Section 5(a).
endorsement, we may endorse it for you or treat the check as
if you had endorsed it. We are not bound by any conditional or (b) CD Principal
restrictive endorsement on a check you cash or deposit, or any If you withdraw all or part of the amount of your initial
endorsement made “without recourse.” deposit or the amount of your renewed deposit in the case
of a renewed CD (“Issue Amount”) from your CD except at
(d) CDs
maturity or during the Grace Period (as defined
After a CD is opened and funded, additional deposits are not
in Section 19) and except as provided in Sections 3(iii) and
allowed. For renewing CDs, deposits are only allowed on the
24(c), we may assess an Early Withdrawal Penalty.
maturity date and during the Grace Period (as defined in Section
19 below). (c) CD Initial Funding Withdrawal
You may withdraw funds from a non-IRA CD only after seven
(e) Cutoff Times
(7) days from the date of initial funding.
The following chart describes the cutoff times for posting deposit
transactions to your Account: If you request to withdraw funds sent to us via ACH or wire
transfer within sixty (60) days of the initial funding, the funds
Check Deposits Received by Received after 12pm ET on
sent via Mail 12pm ET on a a Business Day or any time will be returned to the same account from which the funds
Business Day on a Non-Business Day
were sent to us to be deposited into the new CD.
Will Post: Will Post:
Day of Receipt Next Business Day (d) Early Withdrawal Penalty
Check/Cash Deposits made in
person to one of our employees
Received before
close on a
An Early Withdrawal Penalty, as outlined in Section 36 will
at the Branch Business Day be assessed if you withdraw funds from your CD before the
Will Post:
Day of Receipt
Maturity Date.
Check/Cash Deposits made Received between Received between (e) IRAs
through the Branch Night midnight and 9am ET and midnight on
Depository Box 8am ET on a Business a Business Day or any time (i)Required Minimum Distribution: To request a
Day on a Non Business Day
required minimum distribution, a correctly completed
Will Post: Will Post:
Day of Receipt Next Business Day distribution form (“Distribution Form”) must be
received by us on or before December 15th. We are
As explained elsewhere in this Agreement, for deposits that entitled to a reasonable amount of time after receipt of
are accompanied by documentation that requires additional your Distribution Form to process it. If your Distribution
processing (e.g., IRA Documents, Trust Documents), we may require Form designating a required minimum distribution is
a reasonable time to process documents before the deposit will received after December 15th, we make no guarantee
post. that the distribution will occur before December 31st.
(f) IRA Savings Account Contributions (ii) T ransfer: To request a bank-to-bank transfer, a
In order to make a contribution to your existing IRA Savings correctly completed transfer form (“Transfer Form”)
Account, you must submit a valid Contribution Form. If you from the receiving institution must be received by
provided ACH funding instructions or internal transfer funding us. Transfer Forms that are not complete, signed and
instructions, the instructions will be executed once the correctly dated by the receiving Institution will not be honored.
and fully executed Contribution Form is received by us. We are For distributions from IRA CD Accounts during the
entitled to a reasonable amount of time after receipt of your Grace Period through a bank to bank transfer, the
Contribution Form to process it and post your contribution. correctly completed Transfer Form must be received
Any type of contribution received prior to our receipt of the by us before the end of your IRA CD Account Grace
Contribution Form will be returned. However, if a check is received Period. If the Transfer Form is received by us after the
prior to the receipt of the Contribution Form, we will hold it for up end of the Grace Period, your transfer distribution
to 30 days. If the correctly and fully executed Contribution Form may be subject to an Early Withdrawal Penalty.
is not received, the check will be sent back to the mailing address (iii) Rollover: To request a rollover distribution from
of record for the IRA Plan. IRA contribution checks will not be your IRA, a Distribution Form must be completed

17 18
 and received by us. Distribution Forms that are not (b) Posting Order for Cashback Debit, Branch Checking, Money
correctly completed, signed and dated will not be Market, Statement Savings and Online Savings
honored. For rollover distributions from an IRA CD The following chart describes when items will be posted to
Account during the Grace Period, the correctly your Account:
completed Distribution Form must be received by us
before the end of your IRA CD Account Grace Period. Posting Order for Cashback Debit, Branch Checking, Money Market, Online Savings and
Statement Savings Accounts
If the Distribution Form is received by us after the end
of the Grace Period, your rollover distribution may Beginning of each Business Day • Internal transfers previously scheduled for that
Business Day
be subject to an Early Withdrawal Penalty. We are
Throughout the • ACH Deposits
entitled to a reasonable amount of time after receipt
Business Day • ACH withdrawals initiated externally
of your Distribution Form to process it. • ACH withdrawals you initiate in the Account Center
(f) Please see Section 36 for more information on Early from your Account to an external account and Discover
online bill payments sent as electronic payments
Withdrawal Penalties. • ATM withdrawals and related third party fees
(ii) Money Market Account and Savings Account Withdrawals • POS Debit Card purchases (including temporary holds
and settlements)
The number of certain types of withdrawals and transfers • Cash and official bank check withdrawals
from your Money Market Account or Savings Account is • Cash deposits
limited to a combined total of six (6) per calendar month • Internal transfers scheduled for the same day
• Incoming and outgoing wire transfers and related
per Account. The chart below describes the transactions service charges
that are limited and those that are not. • Checks that you deposited to your Account that have
been returned unpaid
Withdrawals and Transfers Transactions •Peer-to-Peer (P2P) payments
Limited to a combined Unlimited number of End of each • Check Deposits
total of six (6) per withdrawals and transfers: Business Day • Interest
calendar month per Account: • Other Debits (Discover online bill payments by checks,
other checks)
• C hecks (applicable to Money Market •Made in person • Overdraft Protection Service transfers
Accounts only) • At an ATM (applicable to Money Market
• P oint-of-sale (“POS”) Debit Card Accounts only)
transactions (applicable to Money Market • By messenger To provide prompt credit when a check drawn on Discover Bank is
Accounts only) •By mailing a request or speaking to a
• ACH transfers telephone representative to have an official
deposited to another Discover Bank account, we debit the account
• Wire transfers bank check mailed to you on which the check is drawn at the same time that we credit the
• Telephone transfers account to which the check is deposited. In this circumstance, the
• Online transfers
•Transfers to repay a loan at Discover Bank
debit may be processed prior to other credits to the same account.
•P eer-to-Peer (P2P) payments
•O verdraft Protection Service transfers Generally, items posted to your Account are paid in the order they
are received by type of transaction. However, for transactions
If during any calendar month you exceed these transaction processed at the end of the Business Day, if there are insufficient
limitations, we may refuse to pay each transaction in excess of funds in your Account to pay all debits presented, we will post
the limitations. Transactions are counted based on the posting and pay checks, and check-based bill payments initiated by you
date. If you exceed these transaction limitations on more through the Account Center in order from lowest to highest dollar
than an occasional basis, we reserve the right to close your amount. If an item presented to us for payment is being returned
Money Market or Savings Account or change the Account to unpaid, the return transaction will post to your Account on the
a Cashback Debit or Branch Checking Account. We retain the following Business Day.
right to require at least seven (7) days prior written notice for
(c) Insufficient Funds
any withdrawal.
Generally, we will not pay or honor any withdrawal or transfer
(iii) Cashback Debit Account and Branch Checking Account against your Account if there are insufficient available funds
Withdrawals to satisfy the full amount. In this case the transactions will
You may make unlimited withdrawals and transfers of be returned unpaid. In the event we pay an overdraft in our
any type from your Cashback Debit Account or Branch discretion, that amount is a Debt as described in Section 20
Checking Account up to your available balance and in and you agree to repay us that amount. Should we have to
accordance with the transaction limitations stated in this collect on that Debt, you agree to pay the fees and costs of our
Agreement, and other agreements we may have with you, doing so.
regardless of the withdrawal method.

19 20
 (d) Unusual Transactions and Competing Claims (e) Loan payments or account funding made with your
• We reserve the right to delay or decline any transaction on your debit card, such as auto loan payments or prepaid card
Account if we suspect fraud, possible illegal activity, an account loading,
takeover or any other unusual activity that may affect your (f) Purchases made using third-party payment accounts
Account, or receive competing claims regarding your Account. (P2P payments using services such as Venmo® or
• Further, we reserve the right to suspend or freeze the funds in PayPal®) unless otherwise agreed to by us, and
your Account or any other Accounts you maintain with us if you (g) Online sports betting or internet gambling transactions.
don’t provide information we request, or we believe your Account
Merchants who accept Discover debit cards are assigned merchant
may be subject to unauthorized, irregular, illegal or fraudulent
codes based on the kinds of products and services they primarily
activity. If we freeze or suspend any of your transactions on your
sell. Merchant codes are not assigned by Discover. Even though
Account, we may provide you notice as soon as is reasonably
a merchant or some of the items it sells may seem to fit within a
possible. However, we reserve the right to not provide such
rewards eligible category, the merchant code may not fall into that
notice if we believe that such notice could result in a security risk
category. Rewards eligibility is determined based on the merchant
to the owner of the funds, the Account or to us.
code Discover receives in connection with a debit card transaction.
• We reserve the right to limit the amount of funds that may be
Your debit card Cashback Bonus® rewards will be earned each
withdrawn from your Account in cash, for security and other
calendar month on qualifying purchases and will be posted to your
purposes.
debit card Cashback Bonus balance on the Business Day following
(12) CASHBACK DEBIT REWARDS AND INCENTIVES your statement end date. Your Cashback Debit Account must be
(a) Earn Rewards: open with a balance greater than or equal to $0 when debit card
You may earn debit card Cashback Bonus® rewards based on Cashback Bonus rewards are posted.
qualifying debit card purchases made using your Discover (b) Redeem Rewards:
Cashback Debit Account debit card. You will earn debit card (i) Customer Redemption
Cashback Bonus rewards of 1% on qualifying debit card purchases You may redeem your debit card Cashback Bonus on DiscoverBank.
on up to $3,000 in purchases per calendar month. The maximum com. You may redeem your debit card Cashback Bonus® in any
amount of Cashback Bonus rewards that may be earned each available amount via:
month is $30 per account, including on joint accounts. For example, • A transfer to any of the following Discover Bank Accounts you
an eligible purchase of $25.50 would be rounded to $26.00 and you own: Cashback Debit, Branch Checking, Money Market, Statement
would earn $0.26 in debit card Cashback Bonus, while an eligible Savings, or Online Savings Accounts.
purchase of $25.49 would be rounded to $25.00 and you would
earn $0.25 in debit card Cashback Bonus. An eligible purchase of • A transfer to a Discover Credit Card Cashback Bonus account.
$0.49 or less would be rounded down to $0.00 and would not earn Once rewards have been transferred to a Discover Credit Card
a Cashback Bonus. Cashback Bonus account, they will be governed by the Discover
Card Cashback Bonus Terms and Conditions and the rewards
(i) Except as provided in Section 12(a)(ii), qualifying debit card cannot be transferred back to the debit card Cashback Bonus
purchases include: account.
(a) Point-of-sale purchases made with your debit card; and • Discover Auto Redemption of Cashback Bonus to Online Savings
(b) Online purchases made with your debit card. Service. You may enroll in our optional Auto Redemption to Online
(ii) D
 ebit card transactions that are not eligible for 1% debit card Savings Service for your Cashback Debit Account by visiting the
Cashback Bonus rewards include: Account Center. The Auto Redemption Service allows you to
link an eligible Online Savings Account in order to automatically
(a) Transactions conducted at an ATM,
transfer your debit card Cashback Bonus on a monthly basis to the
(b) The purchase of money orders, currency, coins, or other eligible Online Savings Account.
cash-equivalents, such as Bitcoins, negotiable items not and/or
yet deposited, U.S. treasury bills and commercial paper,
• Other debit card Cashback Bonus rewards redemption options
(c) Peer-to-Peer or Person-to-Person (P2P) payments, advertised on DiscoverBank.com from time to time.
which are electronic money transfers made from one
You may redeem your debit card Cashback Bonus if your
individual’s bank account or credit card to another
Cashback Debit Account is open and has a $0 or positive balance.
individual’s bank account or credit card through a P2P
For full details about redemption methods and amounts for debit
payment application,
card Cashback Bonus, visit DiscoverBank.com.
(d) Cash over portion of a point-of-sale purchase,

21 22
 (ii) Discover Redemption Subject to limitations set forth in Section 11 (applicable to Money
We will redeem the rewards that are in your debit card Cashback Market Accounts only) and Section 13(d) and to limitations set by
Bonus® balance into the Cashback Debit Account where the the ATM owner or merchant, you may use your Debit Card in the
rewards were earned if either: (i) your Cashback Debit Account has following ways:
been at a $0 balance for at least 180 consecutive days, or (ii) there (i) At an ATM, withdraw cash from your Cashback Debit
has been no customer-initiated activity on or customer contact Account, Branch Checking Account, or Money Market
regarding your account for at least 365 consecutive days. Account.
(c) Rewards and Cashback Debit Account Closure: (ii) At an ATM, obtain your Cashback Debit Account, Branch
Debit card Cashback Bonus rewards do not expire, but if your Checking Account, or Money Market Account balance.
Cashback Debit Account is closed for any reason, unredeemed
(iii) Pay for purchases in person, online, or by phone.
debit card Cashback Bonus rewards may be forfeited. If your
debit card or account number is lost or stolen, or we issue you a (iv) Obtain cash-over from participating merchants.
new account number for any other reason, we will transfer your Note: At our Branch, you may use your Debit Card at the teller line to
debit card Cashback Bonus balance to your new Cashback Debit obtain your account number to help facilitate transactions.
account.
(b) Foreign Transactions
(d) Rewards Adjustments and Termination: If you make a purchase or withdraw cash using your Debit Card in a
We may make adjustments to your debit card Cashback Bonus foreign currency, we will convert it to U.S. dollars using conversion
based on your debit card activity. For example, we will decrease the rates sourced from one of the following methods: a government-
balance in your debit card Cashback Bonus account to correspond mandated rate, a government-published rate or an interbank or
with the return of a debit card purchase or the amount of a reward wholesale exchange rate, depending on the country and currency
disbursed by us in error. Any qualifying debit card purchases in in which the transaction is made. We use the rate in effect on the
excess of $3,000 each month will be used to offset the amount of conversion date for the transaction. This rate may be different than
debit card returns, prior to the corresponding debit card returns the rate in effect on the transaction date. “Interbank or wholesale
reward amount being deducted from your current month’s exchange rate” means the foreign exchange rate that banks
Cashback Bonus rewards earned or your current Cashback Bonus charge each other when buying and selling currencies.
balance.
(c) ATM Fees
Adjustments to your debit card Cashback Bonus from debit We will not charge a fee for using an out of network ATM. However,
card transactions that are not rewards eligible but for which you when you initiate a transaction with your Debit Card at an ATM that
received rewards or debit card purchase returns will be applied to is outside of our No Fee network, you may be charged a fee by the
your Cashback Bonus balance in a subsequent month and will be ATM operator or any network used for your transaction, including
reflected in your debit card Cashback Bonus ending balance. In but not limited to balance inquiries.
certain circumstances, it is possible to have a negative debit card
(d) Debit Card Limits
Cashback Bonus balance.
• For customers who have at least one Discover checking, savings,
Cashback Debit Accounts deemed to have an excessive or unusual or money market account open for at least 30 days, the daily
number of debit card return transactions may be: (i) frozen, (ii) no combined POS purchase limit per active Debit Card is the lesser of
longer eligible to participate in the debit card Cashback Bonus $5,000, or your available balance.
rewards program or (iii) closed in accordance with Section 24(a) of
• For customers who do not have at least one Discover checking,
this Agreement.
savings, or money market account open for at least 30 days, the
(e) Proof of purchase: daily combined POS purchase limit per active Debit Card is the lesser
We reserve the right to request receipts of your debit card of $2,500, or your available balance.
purchases within sixty (60) days of the purchase date and you
•The daily ATM withdrawal limit for each Account is the lesser of
agree to provide such receipts upon request. Failure to provide
$510 or your available balance. When you use an ATM not owned
requested receipts will result in those debit card purchases not
by us, you may be subject to other daily limits set by the ATM
being eligible for Cashback Bonus rewards.
operator.
(13) DEBIT CARDS •These Debit Card transaction limits are in addition to the limits set
(a) Debit Card Transactions forth in Section 11 of this Agreement. For security reasons, there may
You may use your Debit Card in the United States and be limits on the number of ATM withdrawals using your Debit Card.
internationally where the PULSE®, Discover®, or Diners Club • In addition, we reserve the right to decline any Debit Card
International® symbol is displayed. transaction if we suspect fraud, account takeover, possible

23 24
 illegal activity or any other unusual activity affecting your funds were received. A wire transfer that does not comply
Account. with applicable law will not be processed and will be returned.
(e) Personal Identification Number (PIN) Funds from incoming wire transfers are made available as
You may activate your Debit Card and create or change your PIN set forth in Section 15(b)(i). For international wire transfers
online through the Account Center or by calling our automated received in a foreign currency, the funds will be converted
system. You should protect your PIN as you would your Debit Card. to U.S. dollars at a currency exchange rate determined by
intermediary banks and that exchange rate will determine the
(f) Debit Card Freeze
amount received by us.
You may request that Discover freeze your Debit Card, which
means that new purchases (in-store, online, mobile or phone) and (ii) Outgoing Wire Transfers
ATM transactions will not be authorized, allowed or processed with Outgoing wire transfers from your Account to another financial
the Debit Card you have frozen. If more than one Debit Card has institution may be made upon request by completing the
been issued to access your Account, such as a joint Accountholder Discover Wire Transfer Form or by submitting the request
Debit Card, only the Debit Card you have identified will be frozen. online. All requests must include the receiving Accountholder
All other Debit Cards issued to access your Account will continue and receiving bank information, as required by us. You may be
to be available for transactions. Freezing your Debit Card will not assessed an Outgoing Wire Transfer Service Charge for each
stop bill payments, transactions that merchants have marked outgoing wire transfer you initiate (not applicable to IRAs). For
as recurring, returns, deposits, dispute adjustments, internal or wire transfers from an IRA, we require receipt of a correctly
external transfers, reward redemptions, or checks. You may freeze completed, signed Distribution Form.
your Debit Card by visiting the Account Center, or calling customer (a) We reserve the right to verify or authenticate any request
service. for a wire transfer or any information you provided to
(g) Debit Card for Discover Cashback Debit Account us on the Discover Wire Transfer Form and to refuse
By opening a Discover Cashback Debit Account, you are also to honor any request if we, in good faith, are unable to
requesting a debit card. verify that the individual requesting such transfer has the
authority to do so or we detect any other unusual activity
(14) FUND TRANSFERS of the Account or person. There may be more than one
(a) Internal Transfers Between Discover Accounts level of verification required.
Accountholders can transfer funds between their deposit (b) R
 equests received and fully verified at or before 3pm
Accounts, or transfer funds from such Accounts to fund a new Eastern Time on a Business Day will be processed as of
Account. We may require a written request for an internal transfer that Business Day. Wire transfer requests received and
to close one Account and open another with new Accountholders fully verified after 3pm Eastern Time on a Business Day,
or if at any time the validity of a transaction is in question. Internal or at any time on a day that is not a Business Day, will be
transfers scheduled for the same day are processed immediately. processed no later than the next Business Day.
Internal transfers scheduled for the next Business Day or later
(c) ACH Transfers Between Discover and
are processed at the beginning of the scheduled transfer date.
Non-Discover Accounts
For transfers to or from an IRA Savings Account that will be a
• You can transfer funds via Automated Clearing House (“ACH”)
contribution or distribution from the IRA Plan, we require receipt
between any of your eligible Discover Bank Accounts and eligible
of a correctly completed and signed Contribution or Distribution
accounts you own at other U.S. financial institutions, subject to
Form.
the restrictions identified in Section 11.
(b) Wire Transfers
• In order to initiate an ACH transfer, you must be an owner of, or
(i) Incoming Wire Transfers
signer on, the bank account from which funds are being debited
Please contact us at 1-800-347-7000 for wire transfer
or to which the funds are being credited. You are required to
instructions as certain incoming wire transfers are processed
provide the routing number, account number, and bank name for
through an intermediary bank. Wire transfers received
the account from which the funds will be debited or to which the
before 4pm Eastern Time are posted to your Account on the
funds are being credited.
Business Day we receive them. Wire transfers received after
4pm Eastern Time are posted to your Account on the next • ACH requests made by phone or in the Account Center before
Business Day, with an effective date of the Business Day the 5pm Eastern Time on a Business Day will be initiated by us on the
funds were received. In some circumstances, a wire transfer same day.
may require additional processing time and will be posted to • ACH requests made by phone or in the Account Center after 5pm
your Account upon completion of processing, with an effective Eastern Time on a Business Day or at any time on a non- Business
date (regarding when interest starts) of the Business Day the Day will be initiated by us on the next Business Day.

25 26
 Existing Customer Funds Availability Chart
• Funds deposited via ACH will be available as set forth in Section 15
(Funds Availability). How Business Business Business Business
Type of Deposit Deposit is Day of Day 1 after Day 2 after Day 5 after
• ACH transfers initiated by phone are permitted for initial Account Made* Deposit Deposit Date Deposit Date Deposit Date
funding only. Checks drawn on Made in Full amount of
Discover Bank
• For security reasons, there may be limits on the dollar amount person the deposit
and the number of external transfers from your Account. We
reserve the right to terminate, change, discontinue or add funds Not made in Up to $15,000
Remainder
person of the deposit
transfer functionality at any time, within our sole discretion.
U.S. Treasury
• For transfers to or from an IRA that will be a contribution to or Checks
Made in Full amount of
person the deposit
distribution from the IRA Plan, we require receipt of a correctly
completed, signed Contribution or Distribution Form. Not made in Up to $5,550
Remainder
person of the deposit
ACH transfers initiated via the Account Center are subject to the
Special Check Types**
Account Center (Banking) Agreement, which will be disclosed to Made in Full amount of
person the deposit
you at the time of Account Center registration.

(d) Zelle® Person-to-Person Transfers Not made in

person
First $250 of
the deposit
Next $5,300 of
deposit
Remainder
You may be eligible to enroll in our optional Zelle P2P Transfer
Service. The Zelle P2P Transfer Service allows you to send, receive, Other Checks Made in First $250 of
Remainder
and request transfers from third parties who are also enrolled in the person the deposit
service at Discover or another participating financial institution. To
enroll, visit the Account Center. Not made in First $250 of Next $5,300 of
Remainder
person the deposit deposit

(15) FUNDS AVAILABILITY (HOLDS)

Our policy is to make funds from your cash, check, and other deposits
New Customer Funds Availability Chart
to your Account available to you as set forth in this Section 15. Once
funds are available, the funds can be used to cover debit transactions How Business Business Business Business
on the Account (e.g., cash withdrawals at the Branch or ATM, ACH or Type of Deposit Deposit is Day of Day 1 after Day 2 after Day 5 after
Made* Deposit Deposit Date Deposit Date Deposit Date
wire transfers, internal transfers, Zelle transfers, and checks written).
Checks drawn on
(a) Check Deposits Discover Bank
Made in Full amount of
person the deposit
Section 15(a)(i) sets forth our general funds availability schedule for
checks for Existing and New Customers. Please note Section 15(a) Not made in Up to $15,000
Remainder
(ii), which sets forth our availability schedule for check deposits person of the deposit
under other special circumstances.
U.S. Treasury Made in Full amount of
Funds availability is determined by a variety of factors, including Checks person the deposit
but not limited to check type, whether a customer is an Existing
Customer or New Customer, and whether the check is deposited in Not made in Up to $5,550
Remainder
person at the branch, by mail or using Mobile Check Deposit. person of the deposit

Checks Deposited Using Mobile Check Deposit: Please note that Special Check Types**
checks transmitted using Mobile Check Deposit are not subject to Made in Full amount of
person the deposit
the Funds Availability time frames in the Table below. Please refer
to the Table in the Discover Bank Mobile Check Deposit Service
User Agreement Addendum for general funds availability for Not made in First $250 of Next $5,300 of
Remainder
person the deposit deposit
checks deposited through Mobile Check Deposit. The remainder
of the provisions in Section 15(a) also applies to checks deposited Other Checks
through Mobile Check Deposit (unless otherwise stated). Made in Full amount
person of the deposit
(i) General Availability
Funds from checks, drafts and money orders drawn on any Not made in Full amount
financial institution located in the United States (including a person of the deposit
financial institution located in a U.S. territory or a U.S. branch
*A check deposit “made in person” means the deposit was made to one of our employees at the Branch.
or agency of a foreign bank) will be available for withdrawal
as follows: **Special Check Types Include: U.S. postal money orders, and Federal Reserve Bank, cashier’s, official,
certified, teller, state and local government and travelers checks.

27 28
The above tables are indicative of general funds availability. Discover The availability of funds from ACH transfers initiated at
reserves the right to expedite funds availability. In some cases, we Discover Bank from your external bank account and sent
make funds from your deposited checks available to you sooner and deposited to your Account at Discover Bank, may
than we are able to collect the checks. Please remember that even be delayed for a longer period of time (up to 10 Business
after we have made funds available to you, and you have withdrawn Days) to ensure that the funds have cleared the external
the funds, you are still responsible for checks you deposit that are bank from which the funds were obtained and under
returned to us as unpaid and for any other problems involving your circumstances including, but not limited to,
deposit. the following:
(ii)Delayed Availability • You are a New Customer.
The availability of funds from checks deposited may be • We suspect fraudulent, illegal or other unusual activity on
delayed for a longer period of time, under circumstances your Account.
including, but not limited to, the following: • You have overdrawn your Account repeatedly in the last six
• We have reason to believe a check you deposit will not be (6) months.
paid. • You have multiple deposits returned in your Account over
• If you deposit checks totaling more than $5,550 on any one the immediately preceding 90-day period.
Business Day (“Large Deposit”). (iii) Funds from Zelle transfers to your Account. Please refer
• A check you redeposited was previously returned unpaid. to Section 7 of Zelle Person to Person Transfer Service
• You have overdrawn your Discover Account repeatedly in User Agreement Addendum for availability of funds from
the last six (6) months. Zelle transfers to your Account.
• You have multiple deposits returned in your Account over (c) Cash Deposits
the immediately preceding 90-day period. Do not deposit cash through the mail. For cash deposits that are
not made in person to one of our employees at the Branch, your
• We have been notified that the deposited check has been
funds will be available no later than the first Business Day after the
lost or damaged in collection.
date of your deposit. If you make a cash deposit in person to one of
• We suspect fraudulent or other unusual activity on your our employees at our Branch, your funds will be available no later
Account. than the day we receive the deposit.
• The deposited check is post-dated, expired or more than (d) Electronic and Cash Deposits by New Customers:
six months old. The availability of funds from cash and electronic deposits does not
• The routing number on the deposited check is not a change for New Customers, except as provided in Section 15(b)(ii)
current routing number. above, and is set forth in Sections 15(b) and 15(c).
• There are erasures or other apparent alterations on the (e) Determining When Your Deposit is Received
deposited check. (i) Checks and Cash
• An emergency, such as failure of computer or The following chart describes when items are determined to have
communication equipment, has occurred. been received by Discover:
We will notify you if we delay your ability to withdraw funds Times for when Check & Cash
for any of the reasons set forth in this Section 15(a)(ii), and Deposits will be Considered Received

we will tell you when the funds will be available. The funds Mailed to our deposit By 12pm ET on a Business After 12pm ET on a Business Day
processing center Day or any time on a Non-Business Day
will generally be available no later than the seventh (7th)
(checks only)
Business Day after the date of your deposit. Day of Receipt Next Business Day

(b) Electronic Deposits In person made to one Business Day of Receipt

of our employees at the
(i) Funds from ACH credit transfers and wire transfers Branch
Business Day of Receipt
initiated at an external bank to your Discover Bank
Via Mail to the Branch Business Day of Receipt
Account (i.e., funds being sent to Discover) will be (checks only)
available for withdrawal no later than the Business Day we
Made through Between midnight and 8am Between 9am ET and midnight on
receive the funds. the Branch Night ET on a Business Day a Business Day or any time on a
(ii) Funds from ACH transfers initiated at Discover Bank to be Depository Box Non-Business Day
withdrawn from your external bank account, and sent and Day of Receipt Next Business Day
deposited to your Discover Bank Account are generally
available within four (4) Business Days after the date your
request is initiated.
29 30
 (ii) Wire Transfers before January 31st reflecting the previous year’s activity. We
Wire transfers received before 4pm Eastern Time on a Business will make quarterly IRA Savings Account statements available
Day are considered received on the Business Day we receive unless there is an ACH transaction(s) within the month, in which
them. Wire transfers received after 4pm Eastern Time on a case we will make a monthly statement available.
Business Day are considered received on the next Business (iii) Savings Accounts
Day. See Section 14(b)(i) for additional information. We will make statements available quarterly unless there is
an EFT transaction(s) within the month, in which case we will
(16) STOP PAYMENT ON CHECKS
make a monthly statement available.
You may stop payment on a check drawn on your Cashback Debit
Account, Branch Checking Account, or Money Market Account in (iv) Money Market Accounts
person at our Branch, by calling us, or by sending a written request We will make statements available monthly. Checks will not be
to us. A stop payment order may apply to either a continuous range returned to you with your monthly statements; however, you
of checks or a single check. A stop payment order will be effective if may view check images through the Account Center. Check
we receive the stop payment order at such time and in such manner copies are available by request.
that we have a reasonable opportunity to act upon the request. The (v) Cashback Debit Accounts
stop payment order is effective for six (6) months from the date you Monthly statements will be available electronically through the
ordered the stop payment. To make a stop payment order, you must Account Center. Checks will not be returned to you; however,
provide us with your Discover account number, the check amount you may view check images through the Account Center.
and/or the number and, if available, the payee name. Our acceptance Check copies are available by request.
of a stop payment order will not constitute a representation that (vi) Branch Checking Accounts
the check has not already been paid or that we have a reasonable We will make statements available monthly. Checks will not be
opportunity to act upon the order. Further, you may not stop payment returned to you with your monthly statements; however, you
on a check after we have paid the check. may view check images through the Account Center. Check
If we fail to stop payment on a check for which a timely request is copies are available by request.
made, our liability is limited to the face amount of the check. If you (b) Statement Error Resolution
would like to renew the stop payment after the effective period of You must review and call us or write us promptly after we mail or
six (6) months, you must call us, come into the Branch, or send us a otherwise make a statement available if:
written request.
• An item (other than an EFT from a Cashback Debit, Branch
See Section 27(a) for information on stop payment orders for Checking, Online Savings, Statement Savings, Money Market, or
preauthorized transfers. non-IRA CD Account) that you did not authorize or that contains
(17) ACCOUNT TRANSFER OR ASSIGNMENT an unauthorized alteration is listed on the statement,
Except as set forth in Section 20, you may not transfer, assign, or • Your statement contains any errors (other than EFT related
grant a security interest in your Account or any portion of the funds errors from a Cashback Debit, Branch Checking, Online Savings,
in your Account, without our prior written consent. No such transfer, Statement Savings, Money Market, or non-IRA CD Account), or
assignment, or security interest grant will be binding on us, unless • You did not receive your scheduled statement.
and until we consent in writing to it. We reserve the right to refuse to
If you do not notify us of unauthorized or altered items, or other
allow you to change, add, or delete your name or the names of other
errors (other than EFTs from a Cashback Debit, Branch Checking,
Accountholders.
Statement Savings, Online Savings, Money Market, or non-IRA
(18) STATEMENTS AND ERROR RESOLUTION CD Account), or of a missing statement within 60 days after a
(a) Statement Frequency statement is mailed or otherwise made available, then you waive
We will make a statement available for your Account as indicated all claims you may have against us regarding these items.
below. If you do not call or write us regarding an item that you did not
(i) CDs authorize or that contains an unauthorized alteration within 30
(a) Non-IRA CD Accounts days after a statement is mailed or otherwise made available, we
We will make statements available quarterly unless there is are not liable to you for subsequent unauthorized transactions on
an EFT transaction(s) within the month, in which case we will your Account that we could have prevented if you had timely told
make a monthly statement available. us of the unauthorized alteration.
(ii) IRAs You must call us or write us within six (6) months after a statement
We will make an IRA (Plan) statement available annually on or is mailed or made available to you to report an unauthorized or
missing endorsement on an item you issued.

31 32
 You must provide us with all information we need to investigate (20) RIGHT OF SET-OFF
the alleged error or item and file any police reports and provide (a) Set-Off
supporting affidavits and testimony we reasonably request. If If you owe us or our affiliate(s) money under any agreement,
you do not comply with the requirements, we are not required to now or in the future (“Debt”), you grant us (and our affiliate(s),
reimburse you for any claimed loss and you cannot bring any legal as applicable) a security interest in all of your Accounts (except
claim against us in any way related to the item or errors. for IRAs) in which you have an interest, to secure the Debt, plus
(c) Undeliverable Statements reasonable attorney fees and costs incurred by us (and our
If a statement that we send is returned as undeliverable, we may affiliate(s), as applicable) in connection with collecting on the Debt.
discontinue sending statements until we are provided a current We also have a right to set off the balance in any of your Accounts
address. You are responsible for maintaining a current address (except for IRAs) against any Debt that is due and payable. If the
with us. Your statements will be considered available as of the Debt is due and payable, we may exercise our right of set-off
statement date. Your non-IRA CD Account, Money Market Account, and our rights under the security interest to satisfy or reduce the
Branch Checking, and Savings Account statements are also Debt, without giving you notice, before or after the set-off (unless
available in the Account Center. required by applicable law) by withdrawing funds from such
Account(s) and applying them to the Debt, and to any associated
(d) EFT Error Resolution
fees, charges, and costs. We may exercise these rights even if the
Section 18(b) on statement error resolution does not apply to
withdrawal leaves insufficient funds in your Account(s) to pay
errors regarding EFTs from a Cashback Debit, Branch Checking,
outstanding checks or other items, or results in an Early Withdrawal
Online Savings, Statement Savings, Money Market, or non-IRA CD
Penalty being assessed against your Account(s). We may withdraw
Account. For resolution of errors regarding EFTs from a Cashback
funds from a joint account to pay a Debt of any joint accountholder,
Debit, Branch Checking, Online Savings, Statement Savings, Money
regardless of the contributions of each accountholder. We will not
Market, or non-IRA CD Account, see Section 28.
exercise these rights to pay a credit card Debt, or where otherwise
(19) CD RENEWAL OPTIONS prohibited by law. Some government payments may be protected
• We will send you a notification 30 days before your CD matures. from attachment, levy, or other legal process under federal or state
law. If such protections may apply, to the extent that you may do so
• When your CD matures, you may make a deposit or withdrawal (in
by contract, you waive these protections and agree that we may
whole or in part), or change the length of the term of the renewed
take or set-off funds, including federal and state benefit payments,
CD once during the Grace Period. The “Grace Period” consists of the
from your Accounts to pay Debts.
nine (9) days immediately following the maturity date.
(b) Overdrafts
• Any term change, or deposit or withdrawal (including interest
Any overdraft in your Account, regardless of the reason for the
disbursement), during the Grace Period, will end the Grace Period.
overdraft, is immediately due and payable by you, without notice of
• Your CD will automatically renew if no action is taken during the demand from us.
Grace Period.
(21) OVERDRAFT PROTECTION SERVICE
• If you elect not to renew your CD, you will not be paid interest after We offer an optional Overdraft Protection Service. You may only enroll
the maturity date. Interest will be paid on partial withdrawals during in the Overdraft Protection Service for your Money Market Account,
the Grace Period as specified in Section 5(a). Online Savings Account, Cashback Debit Account or Branch Checking
• For IRA CD Accounts: Account through the Account Center. The Overdraft Protection Service
– If you are withdrawing funds, we must receive a correctly allows you to link an eligible Account to another eligible Account to
completed IRA Distribution or Transfer Form before the end of help avoid overdrawing your Account. Until you have enrolled your
your Grace Period in order for us to process any distribution(s) eligible Accounts in the Overdraft Protection Service you will not have
from your IRA CD Account before the end of the Grace Period. the benefit of the Overdraft Protection.
– If you would like to make a contribution to your IRA CD Account at (22) POWER OF ATTORNEY
maturity or during your Grace Period, we must receive a correctly If you wish to designate another person (your “Attorney-in-Fact”), other
completed Contribution Form and the additional funds prior to than another owner of your Account, to transact on your Account on your
the end of the Grace Period. If we do not receive the Contribution behalf, you must deliver to us a Power of Attorney (“POA”) that complies
Form and funds prior to the end of the Grace Period, we will either with applicable law. Subject to applicable law, we may decline to honor
return the funds to you in the same way we received the funds a POA for any reason, at any time, and we may refuse to recognize a
or you may apply for and establish a new IRA CD Account or IRA successor Attorney-in-Fact, even if we recognized the first Attorney-in-
Savings Account. Fact named in your POA. If your POA names more than one Attorney-in-
Fact, you agree that we may rely on the instructions of one Attorney-in-

33 34
Fact as representing joint action by every Attorney-in-Fact you named However, we do not assess an Early Withdrawal Penalty for
in the POA. You agree, we do not have the responsibility to monitor for or withdrawals following the death of an owner or when an
enforce any joint Attorney-in-Fact requirement. owner is determined to be legally incompetent by a court or
We may require the Attorney-in-Fact to execute an affidavit other appropriate administrative body, in each case subject
form which we will provide. The Attorney-in-Fact must notify us to the provision of supporting documentation satisfactory
immediately upon learning of the principal’s death. We may rely on to us.
your POA until we have received notice (i) from you that it has been (iii) (a) IRA CD Accounts: Closure of your IRA CD Account is
revoked, or (ii) that it has otherwise been terminated. An Attorney-in- subject to the restrictions stated in Section 11(a)(i) and
Fact is not an owner of the Account and does not have an FDIC- Section 36 of this Agreement and the provisions set forth
insurable interest in the Account. in Section 3(iii) governing revocation of an IRA Plan. If
your IRA CD Account is closed prior to maturity, we will
(23) PRIVACY AND DISCLOSURE OF ACCOUNT INFORMATION assess an Early Withdrawal Penalty. However, we do
We will disclose information to third parties about your Account or the not assess an Early Withdrawal Penalty for withdrawals
transfers you make: (i) where it is necessary for completing transfers, following the death of an owner or when an owner is
or (ii) in order to verify the existence and condition of your Account determined to be legally incompetent by a court or other
for a third party, such as a credit bureau or other consumer reporting appropriate administrative body, or for withdrawals that
agency or merchant, or (iii) in order to comply with government constitute required minimum distributions from your
agency or court orders, or (iv) if you give us written permission, or (v) IRA CD Account, in each case subject to the provision of
as explained in our Privacy Statement. supporting documentation satisfactory to us. Upon the
(24) ACCOUNT CLOSURE death of an IRA CD Account Accountholder, if a surviving
(a) Closure by Us spouse is the sole beneficiary, then the surviving spouse
We reserve the right to close your Account at any time for any must close the IRA CD Account and either (a) open a
reason, including if the balance in your Account is zero. If we new IRA CD Account in the surviving spouse’s name
close your Account, funds on deposit will be disbursed to the with the IRA CD Account term ending on the same date
Accountholder(s). and with the same interest rate and APY as the original
IRA CD Account, or (b) receive the funds as a transfer,
You will have 45 days starting with the account open date to fund distribution, or a rollover.
your Cashback Debit Account, Branch Checking Account, Online
Savings Account, Statement Savings Account, or Money Market IRA Savings Accounts: Closure of your IRA Savings
Account. If we do not receive funding within 45 days starting with Account is subject to the restrictions stated in Section
the account open date, your Account will be closed. For non-IRA CD 11(a)(i) and the provisions set forth in Section 3(iii)
Accounts, you will have 45 days from the application date to fund governing revocation of an IRA Plan. Upon the death
the Account, otherwise your non-IRA CD Account application will of an IRA Savings Account Accountholder, if a surviving
be deemed abandoned. spouse is the sole beneficiary, then the surviving spouse
must close the IRA Savings Account and either (a) open a
(b) Closure by You new IRA Savings Account in the surviving spouse’s name,
Subject to Section 11(a), you can close your Account at any time by or (b) receive the funds as a transfer, distribution, or a
notifying us in person, in writing or calling us. For phone requests, rollover.
we may require you to submit an Account closure request in
writing. (iv) I RAs generally: Closure of an IRA may result in tax
consequences, depending on the circumstances, including
(c) All Closures tax penalties and assessment of income tax on funds
(i) C
 ashback Debit, Branch Checking, Money Market, Statement distributed from the closed account. We may be required to
Savings, and Online Savings Accounts: If any transactions are withhold certain amounts for federal income tax. See your
received after your Account is closed, the transactions will applicable IRA Plan Agreement and disclosures for more
generally be rejected, and debit transactions will be returned information.
unpaid. For interest-bearing Accounts, no interest will be
paid on deposits received after your Account has been (v) General Account Closure: If an Account is closed before
closed. interest is credited, you will receive the accrued interest.
Closed Accounts remain subject to the other provisions of
(ii) N
 on-IRA CD Accounts: Closure of your Non-IRA CD Account is this Agreement. We may advise consumer reporting
subject to the restrictions stated in Section 11(a)(i) and Section agencies and other third parties of an Account that is closed
36 of this Agreement. If your Non-IRA CD Account is closed for misuse, as permitted by law.
prior to maturity, we will assess an Early Withdrawal Penalty.

35 36
(25) TRANSACTION CORRECTIONS, REVERSALS, AND DELAYS by phone, we must receive it no later than 5pm Eastern Time on
(a) Transaction Corrections the date the payment is scheduled to be made, or (ii) if you send a
We may review transactions after they are posted to your Account. stop payment order in writing, we must receive your order in such
If we determine that we credited or debited your Account in error, time and in such manner as to allow us a reasonable opportunity
we may reverse the transaction at any time, without notice to you to act upon it, which will be no less than three (3) Business Days.
and even if a reversal overdraws your Account. For payments you have authorized a third party to make from your
(b) Return of Benefit Payments Account via EFT, (i) if you make a stop payment order by phone,
If we are required to return any federal benefits or other payments we must receive the order before the debit has posted to your
that were deposited to your Account after you became ineligible Account, or (ii) if you send a stop payment order in writing, we must
to receive them, we may debit your Account balance, or debit any receive your order in such time and in such manner as to allow us
other Account you own, and return them to the sender. If any of the a reasonable opportunity to act upon it, which will be no less than
funds were withdrawn, you agree to repay them upon our request. three (3) Business Days. If you call, we may also require you to put
your request in writing and get it to us within 14 days after you call.
(c) Transaction Delays
You must provide us with your Discover Account number, the name
If we are unable to automatically post a transaction to your Account
of the payee, the date, and the payment amount. The stop payment
for any reason, including, but not limited to, your failure to provide
order is effective indefinitely. For payments initiated by a third
a deposit slip, or there is a freeze on your Account, or the deposit
party, you should notify the third party that you have withdrawn
is to a CD that has not yet matured, we are entitled to a reasonable
your authorization for the payment.
amount of time to review the transaction and post it to your
Account, or in our discretion, return it. (b) Notice of Varying Amounts
If these regular payments vary in amount, the person you are going
(26) AMENDMENTS, ACCOUNT CHANGES AND NOTICES to pay will tell you ten (10) days before each payment, when it will
We may amend this Agreement at any time. We will send you a be made and how much it will be. You may choose instead to get
notification 30 days prior to the effective date of any amendment that this notice only when the payment would differ by more than a
is adverse to you. If you are unwilling to agree to such amendments, certain amount from the previous payment, or when the amount
you have the right to close your Account prior to the changes taking would fall outside certain limits that you set.
effect, subject to any Early Withdrawal Penalties. Your continued use (c) Liability for Failure to Stop Payment
of the Account after the effective date of the change constitutes your If you order us to stop one of these payments within the time
agreement to the Deposit Account Agreement as amended. Notices frames set forth in Section 27(a), and we do not do so, we will be
will be sent to the most recent address shown on our records for your liable for your losses or damages.
Account. Any notice to one Accountholder constitutes notice to all
(d) Documentation of Transfers
Accountholders. It is your responsibility to notify us of any changes in
Your EFTs will be documented as follows:
your address or name, or if an Accountholder dies. If we are notified by
the U.S. Postal Service that your address has changed, we will change • T erminal Transfers (i.e., ATMs): You can get a receipt at the time
your address in our records and send notice to you of the change. you make any transfer/withdrawal from your Cashback Debit,
Branch Checking, or Money Market Account using an ATM or POS
(27) ELECTRONIC FUND TRANSFER (EFT) terminal. Save this receipt in order to reconcile your Account and/
“EFT” or “transfer,” as used in Sections 27 and 28, means any electronic or to report any discrepancies or malfunctions.
fund transfer transaction that is initiated through an electronic
•P
 reauthorized Credits: If you have arranged to have direct
terminal, telephone, facsimile machine, computer or magnetic tape
deposits made to your Cashback Debit Account, Branch Checking
for the purpose of ordering, instructing or authorizing us to debit or
Account, Statement Savings Account, Online Savings Account,
credit your Cashback Debit, Branch Checking, Statement Savings,
or Money Market Account at least once every 60 days from the
Money Market, and non-IRA CD Account. The following details your
same person or company, you can call us at 1-800-347-7000 or
rights in regards to EFTs. You may call us if you have any questions
visit DiscoverBank.com to verify whether or not the deposit has
about your rights. Refer to Section 28 for written notification
been made. You will not receive a separate receipt for these
requirements.
transactions.
(a) Stop Payment of Preauthorized Transfers
•A
 CH Transactions Initiated Through the Account Center or By
If you have told us in advance to make regular payments out of your
Phone: You will receive a written notice confirming the verbal
Account, or you have authorized a third party to debit your Account
authorization to process an ACH by phone. You will be presented
via EFT, you can stop any of these payments. Here’s how: Call us
with a confirmation screen, confirming the authorization to
at 1-800-347-7000, come into the Branch or write us at Discover
process an ACH through the Account Center.
Bank, P.O. Box 30416, Salt Lake City, UT 84130. For payments you
have authorized us to make, (i) if you make a stop payment order • Statements: All transfers will be included on your statements.

37 38
 (e) Your Liability for Unauthorized Transfers • Describe the error or the transfer you are unsure about and explain
Tell us AT ONCE if you believe your Debit Card or PIN has been lost as clearly as you can why you believe it is an error or why you need
or stolen, or if you believe that an electronic fund transfer has been more information.
made without your permission using information from your check, • Tell us the dollar amount of the suspected error.
by calling us at 1-800-347-7000 or by writing us at Discover Bank, P.O.
If you tell us orally, we may require that you send us your complaint or
Box 30411, Salt Lake City, UT 84130- 0411. Telephoning is the best way
question in writing within ten (10) Business Days. We will determine
of keeping your possible losses down. You could lose all the money in
whether an error occurred within ten (10) Business Days after we hear
your Account. If you tell us within two (2) Business Days after you learn
from you and will correct any error promptly. If we need more time,
of the loss or theft of your Debit Card or PIN, you can lose no more than
however, we may take up to 45 days to investigate your complaint or
$50 if someone used your Debit Card or PIN without your permission.
question. If we decide to do this, we will credit your Account within
If you do NOT tell us within two (2) Business Days after you learn of the
ten (10) Business Days for the amount you think is in error, so that you
loss or theft of your Debit Card or PIN, and we can prove we could have
will have use of the money during the time it takes us to complete
stopped someone from using your Debit Card or PIN without your
our investigation. If we ask you to put your complaint or question in
permission if you had told us, you could lose as much as $500 (if you
writing and we do not receive it within ten (10) Business Days, we
reside in California or New York, this amount is as much as $50). Also, if
may not credit your Account. For errors involving new Accounts,
your statement shows transfers that you did not make, including those
POS, or foreign-initiated transactions, we may take up to 90 days to
made by card, code, or other means, tell us AT ONCE. If you do not tell
investigate your complaint or question. For new Accounts, we may
us within 60 days after the statement was made available to you, you
take up to 20 Business Days to credit your Account for the amount you
may not get back any money you lost after the 60 days if we can prove
think is in error. We will tell you the results within three (3) Business
that we could have stopped someone from taking the money if you
Days after completing our investigation. If we decide that there was
had told us in time. If a good reason (such as a long trip or a hospital
no error, we will send you a written explanation. You may ask for
stay) kept you from telling us, we will extend the time periods.
copies of the documents that we used in our investigation.
(f) Our Liability for Failure to Make Electronic Transfers
If we do not complete a transfer to or from your Account on time (29) WAIVERS
or in the correct amount according to your instructions and this No delay in our exercise of our rights, powers, or remedies will
Agreement, we will be liable for losses or damages. However, there affect your obligations under this Agreement. If we waive any of the
are some exceptions. We will not be liable, for instance: provisions of this Agreement, such waiver will only apply on that
• If, through no fault of ours, there is insufficient money in your occasion.
Account to make the transfer. (30) LEGAL PROCEEDINGS
• If the terminal or system was not working properly and you knew We may comply with any writ of attachment, adverse claim,
about the breakdown when you started the transfer. garnishment, tax levy, restraining order, subpoena, warrant, or other
• If circumstances beyond our control (such as fire or flood) prevent legal process which we believe (correctly or otherwise) to be valid
the transaction, despite reasonable precautions that we have taken. and we may restrict use of your Account if it is subject to any legal
proceedings. We shall be entitled to rely upon the representations,
•If the transaction would have violated the terms of any of our
warranties and statements made in such legal processes. You agree
agreements with you or with governmental regulations.
to hold harmless and indemnify us for any losses, expenses, and
• If the ATM where you are making the transfer does not have costs, including reasonable attorneys’ fees incurred by us as a result
enough cash. of complying with such legal proceedings. In the event of your death,
There may be other exceptions not stated in this Agreement. we will not release funds on deposit until all legal documents we
require are delivered to us. We may pay all or any part of the funds in
(28) ERROR RESOLUTION – ELECTRONIC FUND TRANSFERS a joint account to a court or governmental agency upon receipt of a
In case of errors or questions about EFTs, call us or write us as soon garnishment, order, tax levy, or similar legal process identifying any
as you can if you think your statement is wrong or if you need more one or all of the owners of the joint account.
information about a transfer listed on the statement. We must hear from
you no later than 60 days after we made the FIRST statement available (31) ABANDONED ACCOUNTS
on which the problem appeared. Call 1-800-347-7000 or send your State laws governing abandoned accounts may vary from state to
inquiry to us at Discover Bank, P.O. Box 30411, Salt Lake City, UT 84130-0411. state. If we have not had contact from you, there is no activity on your
In order to more effectively serve you: Account, and you have not otherwise indicated an interest in the
Account for a period of time specified by state law, the laws in most
• Tell us your name and Account number.
states require us to treat the funds in such Account as abandoned
property and deliver the abandoned funds to the applicable state.
Once the property is turned over to the applicable state, you would
39 40
have to follow the state’s requirements and process to obtain return IN COURT OR TO HAVE A JURY TRIAL. ALSO DISCOVERY AND APPEAL
of the funds we turned over to the state. RIGHTS ARE LIMITED IN ARBITRATION. Even if all parties have opted
to litigate a Claim in court, you or we may elect arbitration with
(32) SEVERABILITY respect to any Claim made by a new party or any new Claims later
Any term contained in this Agreement which is determined by a asserted in that lawsuit. This arbitration agreement does not apply
court of competent jurisdiction to be invalid or unenforceable if, on the date you submit your Application or on the date we seek to
under applicable law or regulation shall not affect the validity or invoke this arbitration agreement, you are a member of the Armed
enforceability of the remaining terms. Forces or a dependent of such a member covered by the federal
(33) TELEPHONE COMMUNICATIONS Military Lending Act. If you would like more information about
(a) Authorization to Record Calls whether you are covered by the Military Lending Act, please contact
You agree that Discover and its affiliates, agents, contractors, and us at 1-844-DFS-4MIL (1-844-337-4645) or if you are calling from
marketing partners may listen to or record telephone calls between outside the US at +1-801-451-3730.
you and our representatives without additional notice to you. (b) Class Action Waiver
(b) Authorization to Contact You by Phone ARBITRATION MUST BE ON AN INDIVIDUAL BASIS. THIS MEANS
You agree that we (and our affiliates, agents, and contractors) NEITHER YOU NOR WE MAY JOIN OR CONSOLIDATE CLAIMS
may monitor or record any calls between you and us. If we need IN ARBITRATION BY OR AGAINST OTHER ACCOUNTHOLDERS,
to contact you to service your Account, or to collect amounts OR LITIGATE IN COURT OR ARBITRATE ANY CLAIMS AS A
you owe to us, you authorize us (and our affiliates, agents and REPRESENTATIVE OR MEMBER OF A CLASS OR IN A PRIVATE
contractors) to contact you at any number (i) you have provided ATTORNEY GENERAL CAPACITY. The arbitrator may award
to us, (ii) from which you called us, or (iii) which we obtained injunctive relief only in favor of the individual party seeking relief
and believe we can reach you at. We may contact you in any and only to the extent necessary to provide relief warranted by
way, such as calling, texting or email. We may contact you using that party’s individual Claim. The arbitrator may not award class,
an automated dialer or using pre-recorded messages. We may representative, or public injunctive relief. If a court decides that
contact you on a mobile, wireless, or similar device, even if you are applicable law precludes enforcement of any of this paragraph’s
charged for it by your provider. limitations as to a particular Claim for relief, then after all appeals
from that decision have been exhausted, that Claim (and only that
(c) Authorization to Contact You by Other Means Claim) must be severed from the arbitration and may be brought
You also agree that Discover and its affiliates, agents and contractors in court. Only a court, and not an arbitrator, shall determine the
may use other medium, as permitted by law and including, but not validity, scope, and effect of the Class Action Waiver.
limited to, mail and email, to contact you about your Account or to
offer products or services that may be of value to you. (c) Your Right to Go To Small Claims Court
You and we will not choose to arbitrate any individual Claim you
(34) LIMITATION OF LIABILITY or we bring in small claims court (or an equivalent court). This
YOU AGREE THAT WE SHALL NOT BE LIABLE FOR INDIRECT, SPECIAL OR means you or we may bring an action in small claims court (or an
CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION, LOST equivalent court) without being subject to arbitration. However,
PROFITS OR ATTORNEYS’ FEES, REGARDLESS OF THE FORM OF ACTION if a Claim is transferred, removed, or appealed from small claims
AND EVEN IF WE HAD ADVANCE WARNING OF THE POSSIBILITY OF court to a different court, or if any Claim brought in small claims
SUCH DAMAGES. court exceeds the small claims court limit, you or we may then
choose to arbitrate.
(35) ARBITRATION OF DISPUTES
(d) Governing Law and Rules
(a) Agreement to Arbitrate
This arbitration agreement is governed by the Federal Arbitration Act
In the event of a dispute between you and us arising out of or
(“FAA”). Arbitration must proceed only with the American Arbitration
relating to this Account or the relationships resulting from this
Association (“AAA”). The rules for the arbitration will be those in this
Account, or any other dispute between you and us including for
arbitration agreement and the procedures of the AAA, but the rules
example, a dispute based on a federal or state statute or local
in this arbitration agreement will be followed if there is disagreement
ordinance (“Claim”), either you or we may choose to resolve the
between the agreement and the AAA’s procedures. If the AAA’s
Claim by binding arbitration, as described below, instead of in
procedures change after the Claim is filed, the procedures in effect
court. Any Claim (except for a Claim challenging the validity or
when the Claim was filed will apply.
enforceability of this arbitration agreement, including the Class
Action Waiver) may be resolved by binding arbitration if either party For a copy of the AAA’s procedures, to file a Claim, or for other
requests it. THIS MEANS IF EITHER YOU OR WE CHOOSE ARBITRATION, information, please contact the AAA at 1101 Laurel Oak Rd., Voorhees, NJ
NEITHER PARTY SHALL HAVE THE RIGHT TO LITIGATE SUCH CLAIM 08043, www.adr.org.

41 42
If the AAA is completely unavailable, and if you and we cannot agree agreement on your own behalf (and not on behalf of any other party);
on a substitute, then either you or we may request that a court with and (2) an arbitrator, after finding in your favor in any respect on the
jurisdiction appoint a substitute. merits of your Claim, issues you an award that (excluding any arbitration
(e) Fees and Costs fees or attorneys’ fees and costs awarded by the arbitrator) is greater
If you wish to begin arbitration against us but you cannot afford to pay than the value of Discover’s last written settlement offer made before
your share of the AAA’s or the arbitrator’s costs and cannot obtain a an arbitrator was selected, then you will be entitled to the amount of the
waiver of costs from the AAA, we will advance those costs if you ask us award or $7,500, whichever is greater. If you are entitled to the $7,500,
in writing and are acting in good faith. Any request like this should be you will receive in addition any arbitration fees or attorneys’ fees and
sent to Discover, P.O. Box 30421, Salt Lake City, UT 84130-0421. If you lose costs awarded by the arbitrator.
the arbitration, the arbitrator will decide whether you must reimburse (h) Other Beneficiaries of this Agreement to Arbitrate
us for money we advanced for you for the arbitration. If you win the In addition to you and us, the rights and duties described in
arbitration, we will not ask for reimbursement of money we advanced. this arbitration agreement apply to: our Affiliates successors,
Additionally, if you win the arbitration, the arbitrator may decide that you subsidiaries, and our and their officers, directors, and employees;
are entitled to be reimbursed your reasonable attorneys’ fees and costs any third party co-defendant of a Claim subject to this arbitration
(if actually paid by you). The arbitrator may also allocate compensation, agreement; and all joint Accountholders of your Account(s).
expenses, and administrative fees (which include filing and hearing (i) Survival of this Arbitration Agreement
fees) to any party upon the arbitrator’s determination that the party’s This arbitration agreement shall survive:
claim or counterclaim was filed for purposes of harassment or is
• closing of your Account;
patently frivolous.
• any legal proceedings to collect money you owe;
(f) Hearings and Decisions
Arbitration hearings will take place in the federal judicial district • any bankruptcy by you; and
where you live. A single arbitrator will be appointed. • any sale, assignment, or transfer by us or your Account.
The arbitrator must: (j) You Have the Right to Reject Arbitration for this Account. You
• Follow all applicable substantive law, except when contradicted by may reject the arbitration agreement but only if we receive from
the FAA; you a written notice of rejection within 30 days of your receipt of
• Follow applicable statutes of limitations; this Agreement. You must send the notice of rejection to: Discover
• Honor valid claims of privilege; and Bank, P.O. Box 30411, Salt Lake City, UT 84130-0411.
• Issue a written decision including the reasons for the award. Your rejection notice must include your name, address, phone
The arbitrator’s decision will be final and binding except for any number, Account number, and personal signature. No one else
review allowed by the FAA. However, if more than $100,000 was may sign the rejection notice for you. Your rejection notice
genuinely in dispute, then either you or we may choose to appeal to must not be sent with any other correspondence. Rejection of
a new panel of three arbitrators. The appellate panel is completely arbitration will not affect your other rights or responsibilities under
free to accept or reject the entire original award or any part of it. The this Agreement. If you reject arbitration, neither you nor we will be
appeal must be filed with the AAA not later than 30 days after the subject to the arbitration agreement for this Account. Rejection of
original award issues. Appeal costs will be allocated consistent with arbitration for this Account will not constitute rejection of any prior
the AAA’s Consumer Arbitration Rules and Due Process Protocol. or future arbitration agreement between you and us.
Any arbitration award may be enforced (such as through a judgment) (36) EARLY WITHDRAWAL PENALTIES; MINIMUM ACCOUNT
in any court with jurisdiction. Any finding, award, or judgment from an REQUIREMENTS AND SERVICE CHARGES
arbitration of any Claim shall apply only to that arbitration. No finding, Early Withdrawal Penalties
award, or judgment from any other arbitration shall impact the For New CDs: Beginning on the 8th day after your CD is opened and
arbitration of any Claim. funded and for the next 22 calendar days, we will deduct each day’s
(g) Notice and Cure; Special Payment simple interest on the Issue Amount withdrawn from the funding
If you have a Claim, before initiating an arbitration proceeding, you date to the date of withdrawal. Thereafter, the Early Withdrawal
may give us written notice of the Claim (“Claim Notice”) at least 30 Penalty will be calculated as described in the chart below.
days before initiating the arbitration proceeding. The Claim Notice For Renewing CDs: Beginning on the day your CD’s Grace Period
must include your name, address, and account number and explain ends and for the next 20 calendar days, we will deduct each day’s
in reasonable detail the nature of the Claim and any supporting facts. simple interest on the Issue Amount withdrawn from the maturity
Any Claim Notice shall be sent to us at Discover, P.O. Box 794, Deerfield, date to the date of withdrawal. Thereafter, the Early Withdrawal
IL 60015 (or such other address as we shall subsequently provide to Penalty will be calculated as described in the chart below.
you). If, and only if, (1) you submit a Claim Notice in accordance with this

43 44
 Early Withdrawal Penalty is calculated We do not charge account fees for account activities including,
based on the Issue Amount Withdrawn but not limited to: having insufficient funds in or overdrawing your
CDs opened or renewed through 3/14/2013 Account, excessive withdrawals on Money Market and Savings
Term Less than 1 1-5 Years Greater Accounts, going below a minimum balance, placing stop payment
Penalty Year than 5 Years orders, replacing Debit Cards, or ordering checks.
3 months 6 months 9 months Zelle and the Zelle related marks are wholly owned by Early
simple simple simple interest
interest interest
Warning Services, LLC and are used herein under license.
CDs opened or renewed 3/15/2013 through 2/16/2014
Venmo and PayPal are registered trademarks of PayPal, Inc.
Term Less than 1 1 Year to 4 Years to 7 Years
Penalty Year < 4 Years < 7 Years or Greater
3 months 6 months 9 months simple 15 months
simple simple interest simple
interest interest interest
CDs opened or renewed on or after 2/17/2014
Term Less than 1 1 Year to 4 Years to 5 Years to 7 Years
Penalty Year < 4 Years < 5 Years < 7 Years or Greater
3 months 6 months 9 months simple 18 months 24 months
simple simple interest simple simple
interest interest interest interest

In some cases, the Early Withdrawal Penalty may reduce the principal in the
CD. One month equals 30 days for simple interest calculation.
All Early Withdrawal Penalties will be automatically deducted from
your Account except for those instances described in section
24. Each IRA Plan (Traditional or Roth) you open is subject to
revocation as defined in Section 3(iii)(a)(2). An Early Withdrawal
Penalty will not apply if you revoke your IRA Plan under Section 3(iii)
(a)(2).

Account Opening Requirements & Service Charges:

Account Opening Requirements
Product Minimum Opening Other Product Specific Requirements
Balance

Cashback $0 Online Account only

Debit

Branch $0 Must be opened in person at the Retail Branch

Checking
Savings/IRA $0 Certain withdrawals and transfers limited to 6 items per
Savings month (See Section 11)
Statement $0 Must be opened in person at the Retail Branch
Savings
Money Market $2,500 Certain withdrawals and transfers limited to 6 items per
month (See Section 11)
CDs/IRA CDs $2,500 See Section 36 for Early Withdrawal Penalties that
may apply

Account Service Charges (Not Applicable to IRAs)

Outgoing Wire Transfer $30

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