Terms and Conditions

Treasury Key

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THE SERVICE

Treasury Key Service enables Customer to efficiently manage deposits across multiple business locations (each, a “Customer Deposit Location”) by concentrating deposited funds into a single account (“Treasury Key Account”) at the end of each Business Day.

Bank will provide Treasury Key Service for Customer Deposit Locations as designated in the applicable Operational Instructions.

Bank will provide Customer with a unique account number (“Customer Location Account”) for each Customer Deposit Location. Customer must ensure that each Customer Deposit Location uses deposit tickets that reflect the corresponding Customer Location Account so that the Treasury Key module of Bank’s online banking system will reflect the Customer Deposit Location of each deposit. The Treasury Key module will not identify the Customer Deposit Location for any deposits made directly to the Treasury Key Account.

Customer acknowledges that the Treasury Key service is a deposit–only reconciliation service and that debit transactions against Customer Location Accounts are not permitted except, at Bank’s sole discretion, to correct an erroneous deposit. Customer agrees to hold Bank harmless for any losses or liabilities incurred by Customer as a result of Customer’s inability to debit funds from a Customer Location Account.

Customer acknowledges that the deposit reconciliation services contemplated herein are provided after the close of business at the end of each Business Day. As a result, all deposits to Customer Location Accounts will be posted directly to Customer’s Treasury Key Account only after Bank completes the processes associated with such services. Funds will then be made available in accordance with Bank’s applicable funds availability schedule.

Customer acknowledges that the Treasury Key Account and Customer Location Account(s) are subject to Bank overdraft and return policies, including associated fees and charges, as well as the Bank’s Rules Governing Deposit Accounts.