Deposit Products

Super Now Account Rules And Regulations

RULES AND REGULATIONS: These are the rules and regulations that govern your Super Now Account. Your account will also be governed by the signature card that you signed. Furthermore, the account will be subject to the laws, rules and regulations of the State of New Jersey and of the United States. Any change in any of the foregoing that may become effective in the future will also govern the account.

ELIGIBILITY: Super Now Accounts may be maintained only by individuals, sole proprietorships, non-profit organizations and certain governmental units. Entities organized or operated to make a profit may not maintain Super Now Accounts regardless of whether they are corporations, partnerships, associations, business trusts, or other organizations.

DEPOSITS: Deposits may be made only when accompanied by a deposit slip in the form prescribed by the Bank. We are not responsible for transactions initiated by mail until we actually receive them. In receiving any item for deposit or collection, the Bank will process the item in order to collect payment; the Bank will not, however, become the owner of the item. The Bank will not be responsible beyond the exercise of ordinary care in processing the item. All items are credited subject to the Bank's receipt of final payment of the item. If the Bank received any item payable to you with any endorsement missing, the Bank may endorse it for you and deposit it in the account. Items may be handled in accordance with customary banking practice. All transactions received by us after our daily cut-off on a business day or received on a day during which we are not open for substantially all our business, will be treated and recorded as if initiated on our next business day. For all purposes, especially for calculating your account balance, accruing interest and permitting withdrawals and transfers, we reserve the right to give credit only to collected funds, even if our normal practice is otherwise. Any deposit of, or payable to, in a foreign currency will receive credit in US dollars after collection and exchange. At its discretion, the Bank may refuse to accept a deposit, may return a deposit and may close the account.

INTEREST: Your Interest Rate and Annual Percentage Yield may change at our discretion. A minimum daily balance of $1,000 must be maintained in order for interest to accrue. Interest will be paid directly into your account each month when your regular monthly statement is issued. You will not receive any interest for that month if you close your account before your regular statement is issued. If your average daily balance for the entire statement period is less than $1,000 a service charge will be assessed.

WITHDRAWALS: You may make a withdrawal from your Super Now Account only by issuing a Negotiable Order of Withdrawal in the form prescribed by the Bank. A Negotiable Order of Withdrawal is similar to a check and, for the purposes of these rules and regulations will be called a "check". You must maintain a sufficient balance of available funds in your account to cover the checks you write. (An item deposited does not become collected until it has been finally paid to the Bank). If your check is presented to the Bank at a time when there is not a sufficient balance of available funds in your account, the Bank may (a) pay the check, (b) return the check, and in either event, (c) charge you a service charge. In accordance with Federal regulations, the Bank reserves the right to require you to give the Bank written notice of your intention to make a withdrawal 7 days in advance. Payment by the Bank without the 7 days notice will not constitute a waiver by the Bank of the right to require the notice in the future.

STOP PAYMENT: If this is a joint account, any one of you may authorize the Bank to stop payment on any item. You may direct the Bank to stop payment on any check orally or in writing. An oral stop payment order, however, must be confirmed in writing within 14 days or it will expire. A written direction to the Bank to stop payment will be effective for 6 months, unless renewed in writing.

SERVICE CHARGES: The Bank may impose service charges and maintenance charges on your account in the amounts, and on the other terms, that are determined by the Bank from time to time. No exceptions will be made assessing service charges.

STATEMENTS: The Bank will send you a periodic statement which will contain a record of all transactions during the period. You must carefully examine your statement and report any errors, unauthorized withdrawals or transfers or alterations to us in writing when the statement is first made available to you. If no report is made to us within a reasonable time, you waive your right to contest any withdrawals or transfers so disclosed, and you accept the charges assessed and the account balance as reported.

SET-OFF: Each of you acknowledge and agree that we have the right to set off against all or any part of the Super Now Account for any debt you may owe the Bank. This right may be exercised at any time and without prior notice, except as limited by law. This right applies even if one or more of you is not obligated to us on the debt. This right applies to debts we now own or hereafter acquire.

JOINT ACCOUNT: If the account is a joint account, the Bank will pay a check, as well as recognize all other matters effecting the account, signed by any one of you. Each of you authorized each other to deposit in the account any item that is payable to any or all of you. A notice to any one of you will constitute a notice of all of you.

POSTDATED AND CONDITIONAL CHECKS: You must not date a check later than the date you write it or put a condition for payment on any check. If you do, and the check is presented to the Bank for payment before its date or before the condition has been met, the Bank may in its discretion pay the check or return it unpaid.

INDEMNITY: If you ask the Bank to follow instructions that, in the judgment of the Bank, expose it to potential liability under the law, the Bank may refuse to following your instructions or may require adequate security to protect it from all loss and expense incurred in following your instructions.

AMENDMENT: We may amend these rules and regulations, hereafter, upon giving reasonable notice to you. Such notice may be given by posting a notice of such changes in the lobby of the Bank, enclosing a notice in a statement of this account, or by mail to the account address.

WAIVER: Any waiver by the Bank of any of these rules and regulations, on any occasion, will not constitute a waiver of the same or any other rules and regulations on any other occasion.

CHANGE OF ADDRESS: You must promptly notify the Bank in writing of any change of address.

CONTINUING EFFECT: If any of these rules and regulations are determined by a governmental authority to be ineffective, the rest will continue to be in effect.

I/WE ACCEPT THE ABOVE RULES AND REGULATIONS FOR MY/OUR SUPER NOW ACCOUNT.