Dear Depositor,
If you would like us to transfer interest earned on your Time Certificate of Deposit to another financial institution please complete this agreement. We will continue making these electronic transfers until the Time Certificate of Deposit early withdrawal or upon notice from you.
ACCOUNT AGREEMENT: This agreement is part of our Time Certificate of Deposit Agreement. All terms defined in that agreement apply here. By your signature you acknowledge that you have read both documents and agree to the terms thereof.
TRANSFERS: You authorize and direct us to transfer each payment of interest earned on your Time Certificate of Deposit listed below to the account listed below at another financial institution. We will begin making these transfers within a reasonable time after we receive this notice. If you are currently receiving an interest check, upon executing this agreement you may receive one more check from us after submitting this form.
MULTIPLE OWNERS: If there are multiple owners or authorized signers on your Time Certificate of Deposit, any may terminate this agreement. Notice sent to one individual is considered notice to all.
TERMINATION: You or we may terminate this agreement for any reason or no particular reason at all. If you terminate, you must provide written notice and reasonable time after we receive notice for us to discontinue the transfers. If we terminate, we will stop transfers immediately and notify you promptly in writing. Once interest transfers are terminated, interest will be capitalized to the Time Certificate of Deposit until such time as we received written instructions from you.
INDEMNIFICATION: You shall indemnify, defend and hold Intervest National Bank harmless from and against any and all claims, losses, damages, actions, expenses (including attorney’s fees), fines and penalties arising from the Bank’s performance of this service.
You have signed this agreement on the date shown by your signature.
BANK USE ONLY