ELECTRONIC TRANSFER AUTHORIZATION AGREEMENT: ONLINE ACCOUNT OPENING

ELECTRONIC TRANSFER AUTHORIZATION AGREEMENT: ONLINE ACCOUNT OPENING

I(we) hereby authorize Open Bank (“Bank”) to electronically debit my(our) external account (and, if necessary, electronically credit my (our) account to correct erroneous debits) as submitted in this online application to fund opening a new account with Bank. I certify I have full legal authority through direct ownership or other means to authorize a debit request, without restriction, to the external account submitted in this application.

I understand this is a one-time electronic debit for the deposit amount indicated with this online application. I understand the funds will be customarily credited within 2-4 business days after my application is approved and an account number with Bank is assigned.

Bank will not be held liable if the information I(we) enter for the external account is incorrect or the Bank is notified of non-sufficient funds or unauthorized transaction, and unable to initiate the deposit within the timeframe referenced above. Bank relies on the beneficiary account number and beneficiary bank identification number (e.g. Routing Number) provided for this transaction.

I(we) shall be liable to Bank for any losses and/or damages caused by providing Bank with any false, inaccurate, and/or incomplete information.

I(we) understand this authorization will remain in full force and effect until I(we) notify Bank in writing by email that I(we) wish to revoke this authorization. I(we) understand that Bank requires at least three (3) business day notice of revocation to cancel this transaction.

For further rights and responsibilities regarding this transfer please reference Bank’s Electronic Fund Transfers Agreement.

Contact Information to cancel transaction: Open Bank, oaosupport@myopenbank.com