Welcome to Cambridge Savings Bank.


We are pleased to provide you with this account information.






Refer to this disclosure for:


Terms and Conditions of Your Personal Account

Electronic Funds Transfer Agreement - Your Rights and Responsibilities

Funds Availability

Truth in Savings Disclosure

Additional Legal Terms
(Including Arbitration Provision)

Refer to the Personal Account Fee Schedule for:


Important Information About Procedures for Opening a New Account
Account Opening
Foreign Items and Other Non-Routine Items
Authorized Signature
Chapter 167D Accounts
Ownership of Account and Beneficiary Designation
Stop Payments
Telephone Transfers
Transfer Limitations
Amendments and Termination
Account Transfer
Direct Deposits
Restrictive Legends or Endorsements
Payment Order of Items
Facsimile Signatures
Check Processing
Check Cashing
Assisted Cash Deposits and Withdrawals
Fiduciary Accounts
Credit/Consumer Verification
Legal Actions Affecting Your Account
Telephonic Instructions
Monitoring and Recording Telephone Calls and Consent to Receive Communications
Claim of Loss
Early Withdrawal Penalties
Address or Name Changes
Resolving Account Disputes
Waiver of Notices
ACH and Wire Transfers
Service Charge
Power of Attorney
Stale-Dated Checks
UTMA Accounts
Cash Transaction Reporting
Changing Account Products
Transactions by Mail
Check Storage and Copies
Substitute Checks and Your Rights
Truncation, Substitute Checks, and Other Check Images
Unlawful Internet Gambling Notice
Checking Accounts - Common Features
Performance Plus Checking Account
Performance Checking Account
Simple Checking Account
Simple Checking for Students Account
CSB @ Work Checking Account
CSB One @ Work Checking
CSB One Checking
Savings Accounts - Common Features
Performance Money Market Account
Simple Savings Account
Passbook Savings Account
Basic Savings Account
CSB @ Work Savings
Term Certificates
Term Certificate of Deposit


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 all 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.

ACCOUNT OPENING - We will not consider an account to be open until we have received and approved all account opening documentation and the account has been funded. Online applications received after 3:00 P.M. or on nonbusiness days are considered received on the next business day. The deposit account relationship with you is a voluntary one and we reserve the right, as provided by law, to decline to open a deposit account with you.

AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.

This agreement is subject to applicable federal laws, the laws of the Commonwealth of Massachusetts and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

  1. summarize some laws that apply to common transactions;
  2. establish rules to cover transactions or events which the law does not regulate;
  3. establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
  4. give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document. Nothing in this document is intended to vary our duty to act in good faith and with ordinary care when required by law.

As used in this document the words "we," "our," and "us" mean Cambridge Savings Bank and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. However, this agreement does not intend, and the terms "you" and "your" should not be interpreted, to expand an individual's responsibility for an organization's liability. If this account is owned by a corporation, partnership or other organization, individual liability is determined by the laws generally applicable to that type of organization. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and we can deduct any amounts deposited into the account and apply those amounts to the shortage. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.

You will be liable for our costs as well as for our reasonable attorneys' fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs and attorneys' fees can be deducted from your account when they are incurred, without notice to you.

DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us"). Before settlement of any item becomes final, we act only as your agent, regardless of the form of endorsement or lack of endorsement on the item and even though we provide you provisional credit for the item. We may reverse any provisional credit for items that are lost, stolen, or returned. Unless prohibited by law, we also reserve the right to charge back to your account the amount of any item deposited to your account or cashed for you which was initially paid by the payor bank and which is later returned to us due to an allegedly forged, unauthorized or missing endorsement, claim of alteration, encoding error or other problem which in our judgment justifies reversal of credit. You authorize us to attempt to collect previously returned items without giving you notice, and in attempting to collect we may permit the payor bank to hold an item beyond the midnight deadline. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. If we accept a third-party check for deposit, we may require any third-party endorsers to verify or guarantee their endorsements, or endorse in our presence.

Multiple Endorsements - We may not accept for deposit or cash checks with multiple endorsements unless we can verify all endorsements.


Generally - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to endorse any item payable to you or your order for deposit to this account or any other transaction with us.

Postdated checks - A postdated check is one which bears a date later than the date on which the check is written. We may properly pay and charge your account for a postdated check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. Because we process checks mechanically, your notice will not be effective and we will not be liable for failing to honor your notice unless it precisely identifies the number, date, amount and payee of the item.

Checks and withdrawal rules - If you do not purchase your check blanks from us, you must be certain that we approve the check blanks you purchase. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us or by any method we do not specifically permit. We may refuse any withdrawal or transfer request which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. In addition, we may place limitations on the account until your identity is verified.

Even if we honor a nonconforming request, we are not required to do so later. If you violate the stated transaction limitations (if any), in our discretion we may close your account or reclassify it as a transaction account. If we reclassify your account, your account will be subject to the fees and earnings rules of the new account classification.

If we are presented with an item drawn against your account that would be a "substitute check," as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item.

See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts to which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal. An item may be returned after the funds from the deposit of that item are made available for withdrawal. In that case, we will reverse the credit of the item. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.

Overdrafts - If you write a check or item on, or make a debit from, your account in any amount that exceeds the available balance in your account (that is, create an overdraft), we may in our sole discretion pay or return the check, item, or debit. If we choose to pay the check, item, or debit, you agree to repay the overdraft immediately. We are under no obligation to allow you to make an overdraft. You agree, to the extent permitted by law, if we choose to pay the check or item, or allow you to make the debit, that we may charge to, and debit from, your account a fee as disclosed in the Personal Account Fee Schedule ("Fee Schedule"). If you have an Overdraft Line of Credit to cover overdrafts, please refer to your Overdraft Line of Credit Agreement for further information. You may choose to cover overdrafts by linking your account to an eligible account type. There is a fee associated with this service. See the Fee Schedule for details. Transfers from an eligible savings account type are subject to transaction limitations. See the Transfer Limitations portion of this disclosure for details. The categories of transactions for which an overdraft fee may be imposed are those by any of the following means: check, in-person withdrawal, or other electronic means. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.

FOREIGN ITEMS AND OTHER NON-ROUTINE ITEMS - We are not required to accept checks that are drawn on a non-U.S. bank or payable in a foreign currency and you agree not to deposit such items through our ATMs or our mobile application. Items drawn on non-U.S. banks, bond coupons, and any other unusual item are accepted for collection only and are not governed by our funds availability disclosure. We may, but will not be required to, give you provisional credit for these items. Your Account will not be finally credited for the amount of such items until the payments are actually received by us. Refer to the Fee Schedule for fees applicable to such transactions.

If you make or receive a deposit in foreign currency or send a wire transfer in foreign currency the foreign currency exchange rate we will apply to convert the foreign currency into U.S. dollars is determined by us at our discretion and will generally be less favorable than the rate charged to us. For information regarding the exchange rate applied to international transactions using your CSB ATM or Debit Mastercard refer to the Electronic Funds Transfer Your Rights and Responsibilities section of this agreement.

AUTHORIZED SIGNATURE - Your signature on the Signature Card is your authorized signature. For the payment of funds and for other purposes relating to any account you have with us, we are authorized to recognize your signature but we will not be liable to you for refusing to honor your checks or other signed instructions if we believe in good faith that the signature appearing on such checks or instructions is not genuine.

For accounts opened through our online account system, when you transact business on this account in person, we may 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 as evidence of the authorized signature on this account.

Notice of withdrawal - We reserve the right to require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit or demand deposit, or from any other savings account as defined by Regulation D. (The law requires us to reserve this right, but it is not our general policy to use it.) Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.

CHAPTER 167D ACCOUNTS - Except as indicated below, we do not intend to subject your account to (i) a service, maintenance or similar charge, (ii) a minimum balance requirement, (iii) a charge for a check, deposit or withdrawal, or (iv) a fee for the initial order or subsequent refills of the basic line of checks offered by us if you qualify for the minor or senior citizen fee exemption under Chapter 167D of Massachusetts General Laws. You should notify us if you or your spouse qualify so that we may administer your account accordingly. Despite this exemption, we may assess a fee for certain services in accordance with our published service charge schedule, including stop payment orders, wire transfers, certified or bank checks, money orders and deposit items returned, transactions at electronic branches and through other electronic devices, and services not directly associated with the deposit, withdrawal or transfer of funds from any such account; and we may assess you a reasonable charge when payment has been refused because of insufficient funds on any check or other transaction on the account (as permitted by law).

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We reserve the right to refuse some forms of ownership on any or all of our accounts. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

Individual Account - is an account in the name of one person.

Joint Account - With Survivorship (And Not As Tenants In Common) - is an account in the name of two or more persons. Each of you intend that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.

Totten Trust Account - One or two of you (called trustees) may create such an account in trust for one or more other persons (called beneficiaries). At the time the account is opened or a beneficiary is added, you must provide any information we may reasonably require in order to identify your beneficiary, including without limitation the beneficiary's street address and date of birth. Payments may be made to the trustee, or if there are two trustees, to either or both of the trustees or the survivor. Unless otherwise required by applicable state law, after the death of the last surviving trustee and upon the request of a beneficiary, we will distribute the balance in the account in equal shares or in a check payable jointly to all surviving beneficiaries and close the account. If all beneficiaries predecease the last surviving trustee, the balance in the account will be paid to the legal representative of the estate of that trustee or otherwise in accordance with applicable state law.

STOP PAYMENTS - If you do not want us to pay a check or other item drawn on your account, you may order us to place a stop payment on the check or item by notifying us in person or by writing or calling us. We will accept a stop payment order from you or any authorized account signer, regardless of which account owner signed the check. You may generally stop payment on a check or other item drawn on your account, provided that we have not accepted, certified, paid in cash, made final payment on or otherwise become accountable for such check or item, except to the extent otherwise required by law.

Stop payment orders must be submitted in a timely manner and reasonably describe the check or other item by the exact number and dollar amount of the check or other item, and any other information that would assist us in identifying the check or item (for example, payee name, date of check and check number). We must be afforded a reasonable opportunity to act on any stop payment order before it can be considered effective.

We will send you a confirmation notice for all telephone stop payment orders. You may send written stop payment orders to us at any of our branch offices. Your stop payment order will generally be effective when it is processed on your account. Oral and written stop payment orders are valid for six (6) months, unless you renew your stop payment order before the expiration of this time period. We will not inform you when a stop payment order is about to expire. If you do not renew your stop payment order timely in writing and the check or other item is presented to us for payment, we may pay it.

You will be charged for every stop payment order we receive from you, and your account will be debited accordingly. This fee is disclosed in the Fee Schedule.

Stop payment requests may not be issued on bank checks (for example, treasurer's checks). We may, however, replace a lost, stolen or destroyed bank check, provided you comply with our established procedures. If the original bank check is presented to us for payment before your claim becomes effective, we may pay the check, and we will not be liable to you for that item.

TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.

TRANSFER LIMITATIONS - For savings and money market accounts you may make up to six transfers or withdrawals by means of a preauthorized, automatic, or telephonic transfer to another account of yours or to a third party or by check, debit card, or similar order to a third party during any calendar month (or statement cycle of at least four weeks). A preauthorized transfer includes any arrangement with us to pay a third party from your account at (i) a predetermined time; (ii) on a fixed schedule or (iii) upon oral or written orders including orders received through the automated clearing house (ACH). If the transfer or withdrawal is initiated in person, by mail, or at an ATM then there is no limit on the number of payments that may be made directly to you, directly to us for amounts you owe us, or transfers to other accounts you have with us. Withdrawals by phone are also unlimited if you are requesting that a check be mailed to you.

AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates are provided separately in the Truth-in-Savings disclosure or in another document. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Items presented for payment after the account is closed may be dishonored. Reasonable notice depends on the circumstances, and in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change, you have agreed to the new term(s).

NOTICES - Any written notice you give us is effective when we actually receive it, and it must be given to us according to the specific delivery instructions provided elsewhere, if any. We must receive it in time to have a reasonable opportunity to act on it. If the notice is regarding a check or other item, you must give us sufficient information to be able to identify the check or item, including the precise check or item number, amount, date and payee. We will mail, send electronically (if you have consented to receive such electronic communications), or otherwise make available to you a statement reflecting your account activity for each statement period as well as other important notices regarding your account. Written notice we give you is effective upon the earlier of when it is deposited in the mail with proper postage and addressed to your mailing address we have on file or otherwise made available to you. Notice to any of you is notice to all of you.

STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.

You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

Your duty to report other errors - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error or problem - such as an encoding error. You agree that the time you have to examine your statement and items and report to us will depend on the circumstances. However, this time period shall not exceed 60 days. Failure to examine your statement and items and report any errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any errors on items identified in that statement and as between you and us the loss will be entirely yours.

There are different time periods for notifying us of errors related to: (1) forged, missing or unauthorized endorsements; (2) substitute checks; and (3) electronic funds transfers. For forged, missing or unauthorized endorsements you must notify us within the time period specified by applicable state law.

Errors relating to electronic fund transfers or substitute checks - For information on errors relating to electronic fund transfers (e.g., on-line, mobile, debit card or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution. For information on errors relating to a substitute check you received, refer to your disclosure entitled Substitute Checks and Your Rights.

ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS - If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt any of you owe us now or in the future. If this account is owned by one or more of you as individuals, we may set off any funds in the account against a due and payable debt a partnership owes us now or in the future, to the extent of your liability as a partner for the partnership debt. If your debt arises from a promissory note, then the amount of the due and payable debt will be the full amount we have demanded, as entitled under the terms of the note, and this amount may include any portion of the balance for which we have properly accelerated the due date.

This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.

RESTRICTIVE LEGENDS OR ENDORSEMENTS - The automated processing of the large volume of checks we receive prevents us from inspecting or looking for restrictive legends, restrictive endorsements or other special instructions on every check. For this reason, we are not required to honor any restrictive legend or endorsement or other special instruction placed on checks you write unless we have agreed in writing to the restriction or instruction. Unless we have agreed in writing, we are not responsible for any losses, claims, damages, or expenses that result from your placement of these restrictions or instructions on your checks. Examples of restrictive legends placed on checks are "must be presented within 90 days" or "not valid for more than $1,000.00." The payee's signature accompanied by the words "for deposit only" is an example of a restrictive endorsement.

PAYMENT ORDER OF ITEMS - The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items.

To explain our payment group selections, CSB receives several payment files each day. Payments are first posted by the order of the payment file received, with the smallest items in each of the payment files posted first.

If a check, item or transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). We will not charge you a fee for paying an overdraft of an ATM or everyday debit card transaction if this is a consumer account and you have not opted-in to that service. The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to opt in to overdraft services for ATM and everyday debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees.

Facsimile Signatures - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.

CHECK PROCESSING - We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and endorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of endorsements unless you notify us in writing that the check requires multiple endorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would not be identified by a reasonable inspection of the item. Using an automated process helps us keep costs down for you and all account holders.

CHECK CASHING - We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.

ASSISTED CASH DEPOSITS AND WITHDRAWALS - You, or any party acting on your behalf, may be asked to provide reasonable identification as well as other information to complete a cash transaction at any branch or ITM location. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint. Failure to provide such information when asked may result in the transaction being denied.

ENDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not endorsed by you. We may give cash back to any one of you. We may supply any missing endorsement(s) for any item we accept for deposit or collection, and you warrant that all endorsements are genuine.

FIDUCIARY ACCOUNTS - Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary is someone who is appointed to act on behalf of and for the benefit of another. We are not responsible for the actions of a fiduciary, including the misuse of funds. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters.

CREDIT/CONSUMER VERIFICATION - You agree that we may verify credit/consumer and employment history by any necessary means, including preparation of a report by a credit/consumer reporting agency.

LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed "legal action" in this section), we will comply with that legal action. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys' fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.

Products or services offered by the Bank may not be knowingly or unknowingly used to participate in or facilitate any of the following:

Any determination by the Bank in its sole discretion of a breach of this section may result in restrictions on your ability to continue to conduct transactions.

You also agree not to use your account to conduct transactions related to unlawful Internet gambling. We may refuse any gambling transaction or any other transaction which we determine in our discretion to be high risk, whether lawful or not and you agree that we shall not be liable to you for refusing to process or for delaying the processing of any such transaction provided that we have acted in good faith.

Evidence to establish your identity or the authenticity of any signature may also be required when deemed necessary or appropriate by the Bank. The Bank reserves the right to request from you from time to time new signature(s) or any other documentation necessary to establish your identity, the authenticity of any signature or supporting documentation for a transaction request. You agree to hold us harmless for refusing to pay or to release funds or to take any other action relating to your account where the refusal is based on your failure to provide the signatures or documentation requested by us.

SECURITY - It is your responsibility to protect the account numbers and electronic access devices (e.g., an ATM card) we provide you for your account(s). Do not discuss, compare, or share information about your account number(s) with anyone unless you are willing to give them full use of your money. An account number can be used by thieves to issue an electronic debit or to encode your number on a false demand draft which looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or coworker, for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized.

Your account number can also be used to electronically remove money from your account, and payment can be made from your account even though you did not contact us directly and order the payment.

You must also take precaution in safeguarding your blank checks. Notify us at once if you believe your checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss).

Except for consumer electronic fund transfers subject to Regulation E, you agree that if we offer you services appropriate for your account to help identify and limit fraud or other unauthorized transactions against your account, such as positive pay or commercially reasonable security procedures, and you reject those services, you will be responsible for any fraudulent or unauthorized transactions which could have been prevented by the services we offered, unless we acted in bad faith or to the extent our negligence contributed to the loss. If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected.

TELEPHONIC INSTRUCTIONS - Unless required by law or we have agreed otherwise in writing, we are not required to act upon instructions you give us via facsimile transmission or leave by voice mail or on a telephone answering machine.

MONITORING AND RECORDING TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS - Subject to federal and state law, we may monitor or record phone calls for security reasons, to maintain a record and to ensure that you receive courteous and efficient service. You consent in advance to any such recording.

To provide you with the best possible service in our ongoing business relationship for your account we may need to contact you about your account from time to time by telephone, text messaging or email. However, we first obtain your consent to contact you about your account in compliance with applicable consumer protection provisions in the federal Telephone Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations and orders issued by the Federal Communications Commission (FCC).

With the above understandings, you authorize us to contact you regarding your account throughout its existence using any telephone numbers or email addresses that you have previously provided to us by virtue of an existing business relationship or that you may subsequently provide to us.

This consent is regardless of whether the number we use to contact you is assigned to a landline, a paging service, a cellular wireless service, a specialized mobile radio service, other radio common carrier service or any other service for which you may be charged for the call. You further authorize us to contact you through the use of voice, voice mail and text messaging, including the use of pre-recorded or artificial voice messages and an automated dialing device.

If necessary, you may change or remove any of the telephone numbers or email addresses at any time using any reasonable means to notify us.

CLAIM OF LOSS - If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys' fees incurred by you.

You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.

EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) - We may impose early withdrawal penalties on a withdrawal from a time account even if you don't initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your notice of penalty for early withdrawals for additional information.

ADDRESS OR NAME CHANGES - You are responsible for notifying us of any change in your address or your name. Unless we agree otherwise, change of address or name must be made in writing by at least one of the account holders. Informing us of your address or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

RESOLVING ACCOUNT DISPUTES - We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons.

WAIVER OF NOTICES - To the extent permitted by law, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account. For example, if you deposit a check and it is returned unpaid or we receive a notice of nonpayment, we do not have to notify you unless required by federal Regulation CC or other law.

ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. Credit entries may be made by ACH. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

SERVICE CHARGE - If you close your account either by your request, or if your account balance is zero, you are responsible for paying any service charges due. If the service charges cause your account balance to become zero or negative, we reserve the right to close your account without notice.

PLEDGES - Each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of this account must first be satisfied before the rights of any surviving account owner or account beneficiary become effective.

POWER OF ATTORNEY - You agree that in no event are we obligated to act under any power of attorney whether durable or otherwise, which you may execute at any time, and we may refuse to recognize the authority of any person to whom you may give such a power of attorney. It is solely within our discretion whether or not we choose to recognize and act based upon such power of attorney. If we do recognize the authority of any person acting under a power of attorney, you agree that we shall have the right to rely on that power and the authority of the person acting, without liability, and we shall have no obligation to see to the application of any monies drawn on your account(s) under said power of attorney. You also agree that we are not obligated to determine whether the attorney is acting properly under the power. We will not be liable if any attorney-in-fact exceeds his or her powers. If we do accept the power of attorney, we may continue to allow transactions until such time as we receive and have had a reasonable opportunity to act on written notice that the power of attorney has been revoked. In order for us to accept any power of attorney, the document must be either an original or a certified copy, along with any other documents we may require. We reserve the right to require that we be indemnified and held harmless for any claims against us arising from permitting the use of the power of attorney.

STALE-DATED CHECKS - We are not obligated to, but may at our option, pay a check, other than a certified check, presented for payment more than six months after its date. If you do not want us to pay a stale-dated check, you must place a stop-payment order on the check in the manner we have described elsewhere.

UTMA ACCOUNTS - Under the Uniform Transfers to Minors Act, the funds in the account are owned by the minor. The account may be accessed only by the custodian, and the funds must be used for the benefit of the minor. We, however, have no duty or agreement whatsoever to monitor or insure that the acts of the custodian are for the minor's benefit. We are not responsible to monitor age or eligibility for an UTMA account, even though our records may include the minor's date of birth. It is the custodian's responsibility to properly distribute the funds in the account upon the minor's death or attainment of the age of majority. Currently the age of majority for the purposes of UTMA is twenty-one. For this type of account, the minor's SSN/TIN is used for the Backup Withholding Certification.

CASH TRANSACTION REPORTING - To help law enforcement agencies detect illegal activities, the law requires all financial institutions to gather and report information on some types of cash transactions. If the information we need to complete the report is not provided, we are required to refuse to handle the transaction. If you have any questions regarding these rules, please contact your local Internal Revenue Service office.

CHANGING ACCOUNT PRODUCTS - We may change your account to another product offered by us at any time by giving you notice that your account will be changed to another product on a specified date. If your account is a time account, the change will not occur before the next maturity date of your account. If you do not close your account before the date specified in the notice, we may change your account to that other product on the date specified in the notice.

TRANSACTIONS BY MAIL - You may deposit checks by mail. You should endorse the check being sent through the mail with the words "For Deposit Only" and should include your correct account number underneath to ensure the check is credited to the correct account. You should use the pre-encoded checking deposit slips found behind your checks in your checkbook. If you do not use your deposit slip or provide us with instructions indicating how or where the check should be credited, we may apply it to any account or any loan balance you have with us or we may return the check to you. Receipts for such transactions will be mailed to you only if a self-addressed stamped envelope is provided. Following your deposit, examine your statement carefully or call us to ensure that we received the item. Do not send cash through the mail for deposit.

CHECK STORAGE AND COPIES - You agree that you will not receive your canceled checks. We will store your canceled checks or copies of them for a reasonable retention period. You may request copies from us in the manner we require.


What is a substitute check?

To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check.

Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.

What are my rights regarding substitute checks?

In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, insufficient fund check fees).

The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.

If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 calendar days after we receive your written claim (as stated below) and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we receive your claim.

We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.

How do I make a claim for a refund?

If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us using one of the following methods: via secure message in your Online Banking; call us at 1-888-418-5626; visit one of our branch locations; or mail us the information to: P.O. Box 380206 Cambridge, MA 02238.

You must contact us within 60 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.

Your claim must include –

HOW CHECKING ACCOUNTS ARE MAINTAINED - For our internal accounting purposes, consumer checking accounts will consist of two sub-accounts: a transaction (checking) sub-account and a holding (savings) sub-account. All deposits, checks, electronic transfers and other debits will be posted to the checking sub-account. The Bank will monitor the activity of the checking sub-account and transfer funds from the savings sub-account to meet your needs.

Transfers can occur on any business day. Transfers to the savings sub-account will be made whenever available balances in the checking sub-account exceed a preset level (which we may set and change at our discretion without notice to you). Transfers from the savings sub-account to the checking sub-account will be made whenever checking sub-account balances fall below a predetermined level. In accordance with Federal limitations, we may make up to six transfers during each monthly statement cycle from the savings sub-account to the checking sub-account. If a sixth transfer is needed in this period, all balances in the savings sub-account will be returned to the checking sub-account.

Both sub-accounts are treated as a single account for the purposes of deposits and withdrawals, access and information, statement and tax reporting, fees, etc. If your checking account is a non-interest bearing account, neither the checking sub-account nor the savings sub-account will receive any interest. If your checking account is an interest bearing account, both the checking sub-account and the savings sub-account will receive the same interest rate at all times, and your periodic statement will reflect a single blended Annual Percentage Yield ("APY") and APY Earned.

TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES - If you truncate an original check and create a substitute check, or other paper or electronic image of the original check, you warrant that no one will be asked to make payment on the original check, a substitute check or any other electronic or paper image, if the payment obligation relating to the original check has already been paid. You also warrant that any substitute check you create conforms to the legal requirements and generally accepted specifications for substitute checks. You agree to retain the original check in conformance with our internal policy for retaining original checks. You agree to indemnify us for any loss we may incur as a result of any truncated check transaction you initiate. We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act. Unless specifically stated in a separate agreement between you and us, we do not have to accept any other electronic or paper image of an original check.

UNLAWFUL INTERNET GAMBLING NOTICE - Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through this account or relationship. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.



This Electronic Funds Transfer Agreement (the "Agreement") sets forth your rights and responsibilities with regard to your use of electronic banking transactions, such as preauthorized credits or payments, telephone transfers, online banking and bill payment services and use of a CSB ATM Card and a CSB Debit Card. We will call both of these cards "Cards" in this Agreement, however we no longer issue new CSB ATM Cards. Indicated below are the types of electronic funds transfers ("EFTs") we are capable of handling, some of which may not apply to your account. Please read this Agreement carefully because it tells you your rights and obligations for the transactions listed. Our online banking and bill payment services are also governed by our CSB Online Banking Agreement. You should keep this Agreement for future reference.

A. Preauthorized credits: You may make arrangements with third parties for certain direct deposits to be made to your checking, savings, or money market account(s).

B. Preauthorized payments: You may make arrangements with third parties to pay certain recurring bills from your checking, statement savings, or money market account(s).

C. Telephone Transfers: You may transfer funds by telephone between your checking accounts, money market accounts, and statement savings accounts, provided the deposit accounts have exactly the same account name(s). You may also access your equity line of credit and make payments to your mortgage, consumer loans, and overdraft line of credit.

We agree to transfer money between your accounts upon your telephone request provided that:

  1. You have sufficient funds available in the deposit account you are transferring from at the time of the request.
  2. You are transferring funds to and from the deposit or credit accounts that are designated on the CSB Automated Telephone Banking System.

D. CSB ATM Cards: You may use your ATM Card and personal identification number (PIN) for the following purposes to the extent the law allows and the ATM or other terminal is able to perform the transactions to:

You may designate multiple checking, statement savings, and money market accounts to be accessed by your Card at CSB ATMs, however you must designate one of these checking accounts as the primary account. The primary checking account is the only checking account that may be accessed at foreign ATMs and it is the checking account that will be associated with POS purchases. POS purchases may not be made from statement savings accounts or money market accounts.

All ATM cash withdrawals and POS transactions are aggregated for purposes of your individual daily transaction limit for these transactions, which is generally $500 per day, per ATM card. You have the option to reduce the daily cash withdrawal limit provided you ask us to do so.

E. CSB Debit Cards: CSB Debit Cards are available with all personal checking accounts. You may use your CSB Debit Card to do everything that a CSB ATM Card can do and, in addition, to perform the functions set forth below:

  1. Cash Advances. You can use your CSB Debit Card to get cash advances in amounts of up to your daily transaction limit from participating financial institutions and others that are authorized to make Mastercard® cash advances. Such advances are automatically deducted from your designated checking account.
  2. Mastercard Merchant Transactions. You can use your CSB Debit Card to make purchases of goods and services wherever Mastercard is accepted in amounts up to your daily transaction limit. Such purchases are deducted from your designated checking account. All purchases and cash advances are aggregated for purposes of your individual daily transaction limit, which is generally $1,500 per day per CSB Debit Card.
  3. Limitations on Frequency of Transfers. You can use your CSB Debit Card for a total of ten (10) point-of-sale (POS) merchant transactions per day. We may allow more transactions per day if you request it from us in writing at the address at the end of this Agreement.

F. Electronic Check Conversion: A paper check may be converted by a merchant or service provider into an electronic funds transfer. Your authorization to make this type of electronic funds transfer may be communicated in writing or posted on a sign by the merchant or service provider.

A transfer can happen in the following ways.


The following provisions apply to CSB Debit and ATM Card transactions:

1. Holds: If you use your CSB Debit Card for a purchase transaction, we may place a hold on the funds available in your designated account or any account you have with us, plus any available overdraft protection, based on the authorization prior to settlement. The amount held will be equal to the transaction amount requested by the merchant for authorization. During this hold period, the designated funds will not be available for withdrawal. This could result in an overdraft if sufficient funds are not available in your account to cover both the hold and any checks or other items posting to the account.

2. Authorization System: We have an authorization system that may for security reasons limit the number or amount of CSB Debit Card transactions we approve in a day. We will not be responsible if you are prevented from making a purchase because of that system or because the system is not working properly for any reason. We will not be liable if a merchant refuses to honor your CSB Debit Card. We are not responsible for any injury to you or to anyone else caused by any goods or services purchased or leased with your CSB Debit Card. We may also require the merchant or bank that honors your CSB Debit Card to obtain prior authorization for any transaction over a certain dollar amount, which is set at our discretion and may be changed from time to time.

3. Other Limitations: We may restrict access to your account if we notice use of the CSB ATM and/or CSB Debit Card that we believe to be suspicious, fraudulent, or illegal. Access may be reinstated once we notify you and have rectified any problems. We also have the right to suspend or terminate your use of your CSB ATM and/or CSB Debit Card at any time without notice.

4. Direct Debiting of Your Account: When making a merchant purchase or procuring a cash advance, you authorize us to debit and pay monies from your designated account for the total amount of the transaction as shown on any sales draft or withdrawal order originated by use of your CSB ATM and/or CSB Debit Card, whether or not signed by you, and we are permitted to handle such sales drafts or withdrawal orders in the same way we handle checks drawn on your designated account, with the exception that you will have no right to stop payment.


Your Card is not transferable and remains our property. You agree to return the Card to us immediately upon our demand. For your own protection, ATMs may be programmed to retain Cards in certain circumstances.


Your Card and electronic banking services are made available for your convenience and, except to the extent provided by applicable law, we will not be liable for the unavailability or failure to operate of all or any part of the electronic banking services system, including any POS terminal, card authorization terminal or other link in the authorization system. We will not be liable for any personal injury or tangible property damage suffered or incurred by you through use or attempted use of your Card at any terminal.


To the extent permitted by law, we will have the right to withdraw funds from any account(s) in your name in order to cover any electronic funds transfer.



We will not make cash refunds on purchases. Any claim or defense for purchases must be handled by you directly with the merchant or other business establishment which accepted your Card. You may not assert disputes you may have with a merchant against us, as, for example, when you believe that the goods or services paid for with your Card were defective, not delivered or not as promised. Any such dispute is solely between you and the merchant, and you must still pay the total amount of the sales draft plus any appropriate charges we may be authorized to make. Any merchant credit vouchers for returns or adjustments will be credited to your designated account when received by us. There may be a delay between the time you contact a merchant