Agreements and Disclosures (As of June 2020) Table of Contents Consumer Account Agreement and D isclosures New Account Acknowledgment PG. 2 Deposit Account Agreement PG. 3 Truth in Savings Disclosures Money Market Special 3 PG. 8 Certificate of Deposit PG. 9 Funds Availability Policy and Disclosure PG.11 Substitute Checks and Your Rights PG.15 PG.16 Electronic Funds Transfer Policy Overdraft Services Consent Form PG.23 Courtesy Overdraft Payment Program Disclosure PG.25 ATM/Debit Card Application PG.27 Privacy Disclosure PG.29 Personal Service Fee Schedule PG.31 1 1
Transcript
Agreements and Disclosures (As of June 2020)
Table of Contents
Consumer Account Agreement and Disclosures
New Account Acknowledgment PG. 2
Deposit Account Agreement PG. 3
Truth in Savings Disclosures
Money Market Special 3 PG. 8 Certificate of Deposit PG. 9
Funds Availability Policy and Disclosure PG.11 Substitute Checks and Your Rights PG.15
PG.16 Electronic Funds Transfer Policy
Overdraft Services Consent Form PG.23 Courtesy Overdraft Payment Program Disclosure PG.25 ATM/Debit Card Application PG.27 Privacy Disclosure PG.29 Personal Service Fee Schedule PG.31
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Rev Feb 2020
NEW ACCOUNT ACKNOWLEDGEMENT
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT:
To help the government fight the funding of terrorism and money laundering activities, Federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
ACKNOWLEDGEMENT:
All account holders authorize this institution to make inquiries from any consumer-reporting agency, including a check protection service, in connection with this account.
ACCOUNT OPENING:
All accounts approved through the automated account opening process are subject to final review and approval by the
bank.
Accounts will be considered open once we have received and approved all required account opening documentation
and the account has been funded
If the bank does not approve your account, the account will be closed and you will be mailed an Adverse Action form.
CD ACCOUNTS
Customers who open CD accounts through OAC will receive their CD Certificate in the mail.
External Transfers
Accounts are considered new for a period of thirty (30) days; during this time period those funds transferred from an external account to your account at East Boston Savings Bank will not be available for withdrawal for nine (9) business days.
After the thirty (30) day new account time period those funds transferred from an external account to your account at East Boston Savings Bank will not be available for withdrawal for three (3) business days.
External Transfers to CDs: Only the initial transfer to fund the CD is permitted.
Your account is not considered opened until you verify your external account. The thirty (30) day new account period
begins from this date, not the date you applied online for the account.
Wire Transfers
Outgoing Wire transfers are not permitted through Consumer Online Banking, via postal mail, over the phone, or
through email. You must visit an EBSB branch in person to initiate a wire transfer.
10 Meridian Street, East Boston, MA 021281-800-657-3272 / www.ebsb.com
RATE INFORMATION. The interest rate listed in each tier will be paid on the entire balance in your account.
Tier Daily Balance Range Interest Rate Annual Percentage Yield (APY)
1 Below $10.00 0.00 % 0.00 %
2 Equal to or greater than $10.00 but less than $10,000.00 0.50 % 0.50 %
3 Equal to or greater than $10,000.00 but less than $2,000,000.00 0.62 % 0.62 %
4 Above $1,999,999.99 0.25 % 0.25 %
Your interest rate and annual percentage yield may change.
Determination of Rate. At our discretion, we may change the interest rate on your account.
Frequency of Rate Changes. We may change the interest rate on your account at any time.
Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account.
COMPOUNDING AND CREDITING. Interest will be compounded monthly and will be credited to your account monthly. If you close your account before interest is credited, you will receive the accrued interest.
MINIMUM BALANCE REQUIREMENTS. You must deposit $2,500.00 to open this account.
If you maintain a $2,500.00 minimum daily balance during the statement cycle, the $8.00 monthly maintenance fee will not be a ssessed.
You must maintain a minimum daily balance of $10.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.
PROCESSING ORDER. All credit transactions are processed first *. Debits, or withdrawals, will generally be processed as follows: on -line bill payments, checks presented in-person at a branch, Non-EBSB ATM transactions, point-of-sale transactions, EBSB ATM transactions, ACH transactions, withdrawals presented at the branch in person, authorized withdrawal transfers, electronic checks and checks. Items (checks) presented with a serial number are processed in serial number order. Items (checks) presented without a serial number are pro cessed in ascending (lowest to highest) amount order. Items (checks) without a serial number are processed first, then items with a serial number in serial number order. The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraf t or non-sufficient funds fees or an increase in the amount of these fees.
Please note that On-line Banking, ATM, Preauthorized and Check type of transactions may not be applicable to your account. * Please refer to our Funds Availability Policy Disclosure regarding crediting of deposits.
BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
TRANSACTION LIMITATIONS. A Money Market account is a limited transaction account. This account is limited to six pre-authorized, automatic, telephone, or on-line banking transfers to another account or to a third party, or checks made to a third party per statement cycle. A fee will apply for each transfer in excess of the six during the statement cycle.
ADDITIONAL INFORMATION REGARDING YOUR ACCOUNT. This Special offer is available for the Money Market Special 3Account with the following conditions and limitations:
New accounts opened with new funds, not previously on deposit with East Boston Savings Bank.
Deposits to existing Money Market Special 3 Account with a minimum of $10,000 new funds, not previously on deposit at East Bo ston SavingsBank.
FEES AND CHARGES. The following fees and charges may be assessed against your account:Monthly maintenance fee $8.00
Fee for each transfer in excess of six during statement cycle $15.00
Check printing fees vary by style of check ordered.
Please refer to the separate Personal Service Fee Schedule provided with this disclosure for information about other fees and charges. A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.
be compounded monthly credited to your accountmonthly
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East Boston Savings Bank (EBSB)10 Meridian Street,
East Boston, MA 02128800-657-3272
Truth-in-Savings DisclosureCertificate of Deposit / IRA Certificate of Deposit
TIME DEPOSIT RENEWAL NOTICEPlease see the separate Maturity Notice for information on the current maturity date, grace period, and renewal maturity date for this account. The interest rate(s) and annual percentage yield(s) for the renewal account have not yet been determined. They will be available on the date disclosed on the Maturity Notice. Please call 800-657-3272 or visit ebsb.com to learn the interest rate(s) and annual percentage yield(s) for your renewal account.
THE INFORMATION CONTAINED BELOW RELATES TO THE RENEWAL ACCOUNT.
RATE INFORMATIONIf this account is a fixed rate account, then the disclosed rate and annual percentage yield will be paid until next maturity.If this account is a variable rate account, then the disclosed rate and annual percentage yield may change. The interest rate may change at the banks'discretion at any time. There are no maximum or minimum interest rate limit changes for a variable rate account.
Additional Rate Information (Bump-up Certificates only): you will only be allowed one bump-up opportunity during the term of your account. When you bump-up your rate, the new rate will be set to the current interest rate in effect for the 24 month Certificate of Deposit. To exercise this option, youmust present your Certificate in person at any branch office or by mail with a written request. ·
COMPOUNDING AND CREDITINGInterest will be compounded monthly and credited to your account monthly. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If you close your account before interest is credited, you will receive the accrued interest.
MINIMUM BALANCE REQUIREMENTSThe following minimum balance requirements apply: if your account balance falls below the minimum daily balance requirement, your account may be closed.
Certificate Term Minimum Balance to open and obtain APYFixed 6 month $2,500Fixed 9 to 60 month (includes 25 & 30 month bump-up) $1,000IRA Certificate Term Minimum Balance to open and obtain APYFixed 6 to 60 month (includes 25 & 30 month bump-up) $500
BALANCE COMPUTATION METHODWe use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
ACCRUAL OF INTEREST ON NONCASH DEPOSITSInterest begins to accrue on the business day you deposit noncash items (for example, checks).
FEES and CHARGESIf this account is an IRA Certificate of Deposit, then an IRA Annual Fee of $15.00 will be assessed against your account. There are also charges for IRATrustee Transfer Fee (funds leaving the bank) of $25.00 and IRA Premature Withdrawal Fee (under age 59 ½) of $25.00, plus an early withdrawalpenalty.
TRANSACTION LIMITATIONSOn a Variable IRA Certificate of Deposit, you may make minimum deposits of $10.00 at any time. On all other types of Certificate of Deposits, you may not make deposits into your account until the maturity date. You may withdraw interest credited at any time within the term before maturity date without having to pay a penalty.
INDIVIDUAL RETIREMENT ACCOUNT (IRA)If this account is an IRA Certificate of Deposit, then you may be subject to limitations and/or penalties imposed by the Internal Revenue Service. Please refer to your IRA Agreement or your tax advisor for additional information.
MATURITY DATEPlease see the enclosed Maturity Notice for the maturity date.
EARLY WITHDRAWAL PROVISIONSA penalty will be imposed if you withdraw any of the principal before the maturity date as follows: 6 to 12 month term the penalty will equal 3 months interest on the amount withdrawn; terms over 12 months to 36 months the penalty will equal 6 months of interest on the amount withdrawn; terms over36 months the penalty will equal12 months of interest on the amount withdrawn. All IRA Certificate terms are subject to a Premature Withdrawal Fee of$25 and an early withdrawal penalty for the applicable term as stated above. If you are at least 59 ½ years of age, your term is 24 months or less, andyou only make a partial withdrawal, you will not be assessed an early withdrawal penalty. The interest rate we will use to calculate the penalty will be theinterest rate in effect at the time of withdrawal. **An early withdrawal penalty will be assessed for all outgoing transfers prior to maturity regardless of age.
RENEWAL POLICIES and TERMSThis account will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date of the account to withdraw thefunds without being charged an early withdrawal penalty. The renewal term will be the same as the original term beginning on the maturity date, except as follows: 3 month term will renew as 6 month term; 13 month term will renew as 12 month term; 14, 16 and 19 month term will renew as 18 month term; and 20 month term will renew as 24 month term. Also, a 20 month “Rate Lock" term will renew as an 18 month term.
10 Meridian Street, East Boston, MA 02128 1-800-657-3272 / www.ebsb.com
CONSUMER ACCOUNTS
PURPOSE OF THIS DISCLOSURE. The information here describes our policy of holding deposited items in an account before funds are made
available to you for withdrawal. This is our Funds Availability Policy. In summary, our policy is to make your funds available on the second
Business Day after the day of deposit. Please refer to the section DETERMINING THE AVAILABILITY OF YOUR DEPOSIT for the complete
policy.
For purposes of this disclosure, the terms "you"/"your" refer to the customer and the terms "our"/"we"/"us" refer to East Boston Savings Bank. The term "account" includes any demand deposit, negotiable withdrawal order account, savings deposit or other asset account.
DETERMINING THE AVAILABILITY OF YOUR DEPOSIT. The length of the delay varies depending on the type of deposit and is explained
below. When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you
have written on your account by using these funds. Even after we have made funds available to you and you have withdrawn the funds, you are
still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit. The term
"Business Day" means any day other than a Saturday, Sunday or federally declared legal holiday, and the term "Banking Day" means that part of
any Business Day on which we are open to the public for carrying on substantially all of our banking functions.
If you make a deposit before the close of business on a Business Day that we are open, we will consider that day to be the day of your deposit.
However, if you make a deposit after the close of business or on a day that we are not open, we will consider the deposit made on the next Business
Day we are open.
AVAILABILITY SCHEDULE
Same Day Availability. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. In addition,
funds from deposits of:
• cash (if made in person to an employee of East Boston Savings Bank')
• wire transfers
• U.S. Treasury checks (if payable to you and deposited into your account)
• U.S. Postal Service money orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of East Boston Savings Bank')
• Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in
person to an employee of East Boston Savings Bank')
• State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee
of East Boston Savings Bank')
• Cashier's, Certified, or Teller's checks (if payable to you and deposited into your account, and the deposit is made in person to an employee
of East Boston Savings Bank')
• checks drawn on us
will also be available on the day of deposit.
*If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be
available no later than the second Business Day after the day of your deposit.
Other Check Deposits. Funds from all other check deposits will be available on the second Business Day after the day of your deposit. The first
$300.00 of your deposits, however, will be available on the first Business Day after the day of deposit.
LONGER DELAYS MAY APPLY. Funds you deposit by check may be delayed for a longer period under the following circumstances:
(a) if we believe a check you deposit will not be paid;
(b) if you deposit checks totaling more than $5,525 on any one day; (c) if you redeposit a check that has been returned unpaid;
(d) if you have overdrawn your account repeatedly in the last six months; or
(e) if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or
communications equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They
will generally be available no later than the Fifth Business Day after the day of your deposit. If you will need the funds from a deposit right away,
you should ask us when the funds will be available.
HOLDS ON OTHER FUNDS FOR CHECK CASHING. If we cash a check for you that is drawn on another financial institution, we may
withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from
the check we cashed would have been available if you had deposited it.
HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT. If we accept for deposit a check that is drawn on another financial institution, we
may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds
that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time
periods that are described elsewhere in this disclosure for the type of check that you deposited.
SPECIAL RULES FOR NEW ACCOUNTS. If you are a new customer, the following special rules will apply during the first 30 days your account
is open.
Same Day Availability. Funds from electronic direct deposits, cash (if made in person to an employee of East Boston Savings Bank*) and wire transfers made to your account will be available on the day we receive the deposit. In addition, the first $5,525 of a day's total deposits of
. U.S. Treasury checks (if payable to you and deposited into your account)
. U.S. Postal Service money orders (if payable to you and deposited into your account, and the deposit is made in person to an employee
of East Boston Savings Bank*) . Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in
person to an employee of East Boston Savings Bank*)
. State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of East Boston Savings Bank*)
. Cashier's, Certified, or Teller's checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of East Boston Savings Bank*)
. Traveler's Checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of East Boston
Savings Bank*)
. checks drawn on us
will also be available the day of deposit.
*If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available no later than the second Business Day after the day of your deposit.
Funds from all other check deposits will be available on the Fifth Business Day after the day of deposit.
DEPOSITS AT AUTOMATED TELLER MACHINES. If you make a deposit at an automated teller machine (ATM) that is owned and operated
by us before 4:00 PM on a Business Day that we are open, we will consider the deposit made that day. However, if you make a deposit at an ATM
that is owned and operated by us after 4:00 PM or on a day that we are not open, we will consider the deposit made on the next Business Day we
are open.
ADDITIONAL ATM INFORMATION.
All funds deposited at an ATM will be available the second business day after the day of deposit. Longer holds may apply.
A "business day" is any day other than a Saturday, Sunday or a federally declared legal holiday.
ADDITIONAL DEPOSIT INFORMATION. Payroll checks payable to you may be available on the same day. Please ask a teller supervisor for
further details.
We may, at our discretion, pay checks on uncollected funds and charge you the applicable fee. Please see our Personal Service Fee Schedule.
MOBILE DEPOSIT SERVICES: Funds from all checks including on-us checks will be available on the second business day after the day
of your deposit. The first $300.00 of your deposits, however, will be available on the first business day after the day of deposit.
If you make a deposit thru Mobile Deposit Service before 3PM EST on a business day that we are open, we will consider the deposit made
that day. However, if you make your deposit after 3PM EST or on a day that we are not open, we will consider the deposit made on the
Courtesy Overdraft Payment Program Disclosure Courtesy Overdraft Payment Program Description.
If you overdraw your account (your current or available balance falls below $0.00), the Bank may pay at its discretion, “items” presented against the account holder’s account up to a certain dollar amount, as described below. These items include checks, electronic funds transfers, other withdrawal requests or payments authorized by the account holder. The Bank is not obligated to pay any item presented against your account if your account does not have enough money to pay those items.
What is an overdraft and how do they occur?
Transactions that bring your account into a negative balance are called overdrafts. An overdraft can happen when you write a check, withdraw money from an ATM, make an automatic bill payment or other electronic payment(s) for more than the available funds in your account. Additionally, the return of items deposited by you, may overdraw your account. Also, purchases made with your ATM/Debit card (one-time Point of Sale, or POS purchases) may overdraw your account. However, these one-time POS purchases are not covered by this program. You must specifically authorize the Bank in writing to pay overdrafts caused by the one-time POS purchases. See below on how to give the Bank authorization.
How is my available balance calculated?
Your available balance is your current balance adjusted for items not yet fully processed to your account. Items that decrease your available balance include debit transactions (such as POS purchases) that have been authorized by the Bank and not yet posted to your account from your account balance, or portions of check deposits that have not yet been made available. Please refer to the Bank’s Funds Availability Policy for details.
Will the Bank always pay an item that overdraws my account?
No. The Courtesy Overdraft Payment Program is a discretionary program, meaning the Bank is not obligated to pay any item that overdraws your account. The Courtesy Overdraft Payment Program does not create an actual or implied agreement between you and the Bank. This is only a privilege that the Bank gives you (the account holder), and can be withdrawn, terminated or suspended at any time at the discretion of the Bank.
Is there an overdraft limit for the Courtesy Overdraft Payment Program?
Yes. The courtesy service will generally be limited up to a $600.00 overdraft (negative) balance in your account for eligible checking accounts. For new checking accounts opened, the limit will be up to a $100.00 overdraft (negative) balance during the first 60 days. Our overdraft, returned-item, and uncollected funds fees will be included in and count against your assigned limit.
Will I be charged if the Bank (at its discretion) pays an item that overdraws my account?
Yes. The Bank’s overdraft fee is $35.00 per item and will be charged to your account.
Is there a fee if the Bank returns an item rather than paying the item?
Yes. The Bank’s returned item fee is $35.00 per item and will be charged to your account.
Is there a daily maximum overdraft fee amount that the Bank will charge?
Yes. The Bank will only charge you up to a maximum of six (6) overdraft item fees per day for a total amount of $210.00 per day.
Are the fees subject to change? Yes. All fees and charges are subject to change with 30 days advanced notice. The Bank will generally mail an updated Personal Service Fee Schedule to you with your account statement, if a decision is made to change any fees.
At what point does the Bank begin charging my account for overdrafts?
The Bank will not assess an overdraft fee until your account has a negative balance of more than $5.00.
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EBSB Form 8-27-13; Revised 10-02-19
Will the Bank notify me when my account becomes overdrawn?
Yes. You will be notified by mail of any items paid causing your account to have a negative balance or any item that is returned unpaid. However, the Bank has no obligation to notify you before we pay or return an item.
When are the amounts overdrawn including any fees and charges due?
The overdrawn amounts, including any fees, are due and payable immediately. Failure to bring your account to a positive balance within 35 days of the first reported negative balance will result in account closure.
Who is responsible for paying the overdraft amounts, including fees?
All owners (account holders) of the account are responsible for paying the overdraft amounts and fees. Owners of an account include anyone that has signed the signature card, and also includes any agent of the owner if applicable, drawing/presenting the item(s) creating the overdraft.
Does the Courtesy Overdraft Payment Program include overdrafts caused by everyday ATM/Debit Card Transactions?
No. The Bank will not authorize overdrafts caused from everyday ATM/Debit Card transactions (Point of Sale transactions). You must specifically authorize the Bank to pay those ATM/Point of Sale transactions that would result in your account balance becoming overdrawn. For more information on how to authoize the Bank to pay those ATM/Point of Sale transactions, please call our Customer Service Center at the number below.
In what order will the Bank post transactions presented against my account?
Transactions will be posted to your account in the following order: (1) on-line bill payments; (2)checks presented in person at the branch; (3)Non-EBSB ATM transactions; (4) point-of-sale transactions; (5) EBSB ATM transactions; (6) ACH transactions; (7) withdrawals presented at the branch in person; (8) authorized withdrawal transfers; (9) electronic checks; (10) checks. Items (checks) presented with a serial number are processed in serial number order. Items (checks) presented without a serial number are processed in ascending (lowest to highest) amount order. Items (checks) without a serial number are processed first, then items with a serial number in serial number order.
Does the Bank offer an alternative to the Courtesy Overdraft Payment Pogram?
Yes. The Bank can link an existing or new savings or checking account to your existing checking account. When an item is presented against your checking account that causes an overdraft, funds that you maintain in the linked account will automatically be transferred to your checking account at the end of the business day to bring your account to a positive balance, provided that you have enough money in the linked account to cover the overdraft, plus any fee.
What is the fee for the Transfer (linked) Account?
If you elect to have an account linked to a checking account in order to transfer funds into a checking account to cover an overdraft, the Bank’s fee is $5.00 per transfer transaction. The Bank will only transfer the exact amount, plus the $5.00 fee into your linked checking account. If there is NOT enough money to cover the overdraft, plus the fee in your linked account, the Bank’s standard overdraft or return item fee of $35.00 per item will apply.
Can I decline the Bank’s Courtesy Overdraft Payment Program?
Yes. You may choose at any time not to participate in the Courtesy Overdraft Payment Program, by calling our Customer Service Center at the number below.. If you choose not to participate, the Bank may return those items that would cause a negative balance and may charge our standard Returned Item Fee as stated above.
What if I need help managing my account?
If at anytime you feel that you need help managing your account, please contact our Customer Service Center at the number below. As always, good account management is the easiest way to avoid overdrafts and associated fees. Be sure that you have enough funds in your account to cover any transactions that you are making. To assist in managing your account, the Bank offers on-line banking, mobile banking and telebanking.
East Boston Savings Bank Customer Service Center 800-657-3272
PRIVACY POLICYFACTS WHAT DOES EAST BOSTON SAVINGS BANK (EBSB) DO WITH YOUR PERSONAL
INFORMATION?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What? The types of personal information we collect and share depend on the product or service you have with us. This information can include:
§ Social Security number and income
§ Account balances and payment history
§ Credit history and credit scores
When you are our customer, we continue to share your information as described in this notice.
How? All financial companies need to share customers’ personal information to run their everydaybusiness. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons that East Boston Savings Bank chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information
Does EBSB share? Can you limit this sharing?
For our everyday business purposes- such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
YES NO
For our marketing purposes-to offer our products and services to you
YES NO
For joint marketing with other financial companies
YES NO
For affiliates’ everyday business purposes- information about your transactions and experiences
NO NO
For our affiliates everyday business purposes-information about your creditworthiness
NO NO
For our affiliates to market to you NO NO
For nonaffiliates to market to you NO NO
Questions? Call 1-800-657-EBSB (3272) or go to ebsb.com
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Revised 7/2019
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Who we are
Who is providing this notice? East Boston Savings Bank (EBSB)
What we do
How does EBSB protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
We will safeguard any information you share with us. In addition, we will limit the collection and use of nonpublic personal information to the minimum required to provide you with superior products or services. We restrict access to your personal information to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal and state standards to guard your nonpublic personal information.
How does EBSB collect my personal information?
We collect your personal information, for example, when you
§ Open an account or deposit money § Pay your bills or apply for a loan § Use your credit or debit card
We also collect your personal information from others, such as credit bureaus.
Why can’t I limit all sharing? Federal law gives you the right to limit only
§ Sharing for affiliates’ everyday business purposes-information about your creditworthiness
§ Affiliates from using your information to market to you § Sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit
sharing.
Definitions
Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies.
§ EBSB has no affiliates.
Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies.
§ EBSB does not share with nonaffiliates so they can market to you.
Joint marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
§ EBSB joint marketing partners include a credit card company that provides our jointly branded card.
Other important information
East Boston Savings Bank has established standards and practices to ensure compliance with the provisions of M.G.L. c. 93H relative to the safeguarding of personal information contained in both paper and electronic records for the residents of the Commonwealth of Massachusetts.
1 Some banks may charge an additional fee for use of their ATMs. 2 One free Bank check per withdrawal ($1,000 minimum check amount.) 3 Additional fee may be charged by collecting bank. 4 Or as established from time to time by the Commissioner of Banks. 5 Applies to checking accounts with balances less than $250 with no activity for 12 months. (Free Checking
Accounts excluded.) 6 Single-Currency International Transaction Fee applies to: cross-border transaction where currency conversion
takes place. 7 Multi-Currency International Transaction Fee applies for international transaction where a currency conversion
takes place. 8 Safe Deposit contents are not insured by FDIC or DIF.
