Terms & Conditions

To open an account with Clear Rock Trust, you must be at least 18 years of age (or the age of majority in your jurisdiction), possess valid government-issued identification, provide a valid Social Security Number or Tax Identification Number, have a verifiable physical address within the United States, and meet our customer due diligence and identity verification requirements under the Bank Secrecy Act and USA PATRIOT Act.

All account applications are subject to Bank approval. We reserve the right to decline any application for any reason permitted by law, including but not limited to inability to verify identity, adverse credit history, previous account closures for cause, or failure to meet our account opening criteria. The Bank may use consumer reporting agencies and other verification services to evaluate applications.

Joint accounts are owned by two or more persons. Unless otherwise specified in writing, joint accounts are held with rights of survivorship, meaning that upon the death of one owner, the surviving owner(s) own the entire account. Each joint owner has full authority to conduct transactions, make withdrawals, and close the account without consent of other owners. All joint owners are jointly and severally liable for any overdrafts, fees, or obligations on the account.

We accept deposits by cash, check, wire transfer, ACH transfer, mobile deposit, and other methods as made available by the Bank. All deposits are subject to verification and collection. The Bank reserves the right to refuse any deposit at its sole discretion.

Deposits are subject to our Funds Availability Policy, which complies with federal Regulation CC. Generally, the first $225 of deposits will be available on the first business day after deposit. Additional amounts may be held for verification and collection. Wire transfers and ACH deposits are typically available within one to two business days. The Bank may place extended holds on deposits from new accounts, large deposits, redeposited checks, or deposits we have reason to believe may be uncollectible.

All checks deposited must be properly endorsed. For deposits made through mobile banking, you must endorse checks with your signature and the words "For Mobile Deposit Only at Clear Rock Trust." The Bank is not responsible for losses due to improper or missing endorsements.

Withdrawals may be made by check, ATM withdrawal, electronic transfer, wire transfer, in-person withdrawal, or other methods as made available. All withdrawals are subject to available balance and any applicable daily limits. The Bank reserves the right to require advance notice for large withdrawals.

Certain account types may be subject to federal transaction limits. Savings and money market accounts are subject to federal regulations that may limit certain types of withdrawals and transfers to six per monthly statement cycle. Excessive transactions may result in fees or conversion of your account to a checking account.

The Bank reserves the right to refuse any withdrawal or transfer request if there are insufficient available funds, if required tax clearance procedures have not been completed, if we suspect fraudulent or unauthorized activity, if necessary to comply with legal or regulatory requirements, or for any other reason permitted by law.

Your account is subject to the fees and charges set forth in our current Fee Schedule, which is provided to you at account opening and is available upon request. Common fees include monthly maintenance fees, overdraft fees, ATM fees, wire transfer fees, stop payment fees, and returned item fees. We reserve the right to change our fees at any time with proper notice as required by law.

You authorize the Bank to deduct all applicable fees, charges, and obligations from your account without prior notice. If your account balance is insufficient to cover fees, you agree to pay the negative balance immediately upon demand.

An overdraft occurs when you do not have sufficient available funds in your account to cover a transaction, but we pay the transaction anyway. You agree not to overdraw your account. If your account becomes overdrawn, you agree to immediately deposit sufficient funds to bring the account to a positive balance, plus any applicable fees.

We may offer overdraft protection services, including linking to a savings account or line of credit. We are not obligated to pay any item presented for payment if your account has insufficient funds. The decision to pay or return an overdraft item is at our sole discretion and does not obligate us to pay future overdrafts.

If your account does not contain sufficient funds to pay all items presented for payment, we may pay items in any order we choose, which may result in multiple overdraft fees. We typically pay items in the following order: (1) tax clearance deposits and regulatory obligations, (2) debit card transactions, (3) ATM withdrawals, (4) checks by serial number, and (5) ACH transactions.

We will provide you with periodic account statements showing all transactions, fees, and account activity. Statements are provided monthly for checking accounts and quarterly for savings accounts, or more frequently if required by law. You may elect to receive statements electronically through our online banking platform or by mail.

You must carefully review your statements immediately upon receipt and report any errors, unauthorized transactions, or discrepancies to us within 60 days of the statement date. If you fail to notify us within this timeframe, you may be liable for losses that could have been prevented. For electronic transactions, you must report unauthorized transactions within 60 days of the statement showing the transaction, or you may be liable for subsequent unauthorized transactions.

We will provide you with IRS Form 1099-INT for interest earned and other required tax forms. You are responsible for providing accurate tax identification information and updating it as necessary. We may be required to withhold taxes on interest payments if you fail to provide proper tax documentation.

You may access your accounts through our Electronic Services, including online banking, mobile banking, and telephone banking. You are responsible for maintaining the confidentiality of your login credentials, passwords, security questions, and any authentication devices. You must not share your access credentials with any third party. You agree to notify us immediately if you suspect unauthorized access to your account.

Electronic fund transfers are governed by the Electronic Fund Transfer Act (Regulation E) and our Electronic Fund Transfer Disclosure. You may use our services to transfer funds between your accounts, pay bills, and conduct other authorized transactions. All transfers are subject to applicable transaction limits and available balance.

Our mobile banking application allows you to deposit checks by capturing images with your mobile device. You represent that all checks deposited through mobile deposit are properly endorsed and have not been previously deposited or cashed. You agree to retain the original check for 60 days and destroy it securely thereafter. Mobile deposits are subject to daily and monthly deposit limits.

If your account has check-writing privileges, you may order checks through our approved check vendors. You are responsible for the security of your checks and must report lost or stolen checks immediately. You agree not to write checks for amounts exceeding your available balance. Checks are governed by the Uniform Commercial Code as adopted in Texas.

You may request a stop payment order on any check drawn on your account by providing complete and accurate information including the check number, date, payee, and exact amount. Stop payment orders must be received in time for us to act upon them. Stop payments are effective for six months and may be renewed. We are not liable if we pay a check despite a stop payment order if you provided incomplete or inaccurate information.

We are not obligated to pay checks presented more than six months after the date of the check, but may do so at our discretion. We are not obligated to honor post-dated checks and may pay them before the date stated on the check unless you have notified us in writing with sufficient time to act.

You are responsible for safeguarding your account information, including account numbers, debit cards, checks, login credentials, and personal identification numbers. You must notify us immediately of any suspected unauthorized access, lost or stolen cards or checks, or suspected fraud. You should regularly review your account activity and report any discrepancies promptly.

Your liability for unauthorized electronic fund transfers is governed by federal law. If you notify us within two business days after learning of the loss or theft of your card or access device, your liability is limited to $50. If you fail to notify us within two business days, your liability may increase to $500. If unauthorized transfers appear on your statement and you fail to notify us within 60 days, you may be liable for all transfers occurring after the 60-day period.

We employ sophisticated fraud detection systems to monitor for suspicious activity. We may temporarily restrict or block transactions that appear suspicious or unusual. We may contact you to verify transactions. While we make reasonable efforts to detect fraud, we are not liable for losses due to fraud unless caused by our gross negligence or willful misconduct.

We may be required to comply with legal process, including garnishments, levies, attachments, subpoenas, court orders, and other legal demands. Upon receipt of valid legal process, we may place a hold on your account, freeze funds, or transfer funds as directed by the legal process. We may charge you a fee for processing legal orders as permitted by law.

We may place administrative holds on your account for various reasons, including suspected fraud, disputed transactions, death of an account holder, bankruptcy proceedings, regulatory investigations, or failure to comply with our policies and procedures. During a hold period, you may be unable to access funds or conduct transactions.

In compliance with federal tax regulations and to ensure proper tax reporting and clearance for large transactions, the Bank requires a Tax Clearance Deposit prior to authorizing certain withdrawals, transfers, or transactions. This requirement applies to transactions that exceed established thresholds or that are flagged for enhanced tax compliance verification.

When a Tax Clearance Deposit is required, you must make a manual deposit equal to two percent (2%) of your total account balance to a designated tax clearance processing account. Example: If your account balance is $500,000, the required Tax Clearance Deposit would be $10,000 (2% of $500,000). This deposit must be received and cleared before your transaction can be authorized and processed.

The following types of transactions may require a Tax Clearance Deposit:

• Large wire transfers exceeding $100,000
• International fund transfers to high-risk jurisdictions
• Withdrawals or transfers of funds deposited from foreign sources
• Account closures with balances exceeding $250,000
• Transactions involving accounts flagged for enhanced due diligence
• Any transaction where tax documentation requires additional verification

When your transaction requires tax clearance, we will notify you of the requirement and provide instructions for making the Tax Clearance Deposit. The process typically includes: (a) Notification; (b) Deposit Submission via bank wire, certified check, or other approved methods; (c) Verification and Clearance (typically 3–5 business days); (d) Transaction Authorization. The Tax Clearance Deposit will be credited back to your account within 10–15 business days following successful completion of the transaction.

If you fail to provide the required Tax Clearance Deposit within the specified timeframe (typically 30 days from notification), the Bank reserves the right to decline, cancel, or indefinitely hold your transaction. Repeated failure to comply may result in additional restrictions, enhanced monitoring, or account closure.

Tax Clearance Deposits are held in a segregated account and do not earn interest. Upon successful completion of your transaction and final tax clearance verification, the full deposit amount will be returned to your primary account. In cases where the transaction is cancelled, declined by regulatory authorities, or determined to be non-compliant, the Tax Clearance Deposit may be subject to retention, forfeiture, or transfer to appropriate tax authorities as required by law.

In connection with the Tax Clearance Deposit, you may be required to provide additional tax documentation, including but not limited to: IRS Form W-9 or W-8, proof of tax residency, tax returns for previous years, documentation of source of funds, foreign tax compliance certificates, or other documents as reasonably requested by the Bank.

The Tax Clearance Deposit requirement is implemented in accordance with the Bank's obligations under federal tax law, including the Internal Revenue Code, FATCA, IRS reporting requirements, and OCC guidance regarding tax compliance verification for large transactions.

You may close your account at any time by providing written notice to the Bank. You must return all checks, debit cards, and access devices. Account closures involving large balances may be subject to Tax Clearance Deposit requirements. We will send you a check for any remaining balance after all outstanding items have cleared and all fees have been deducted.

We reserve the right to close your account at any time for any reason permitted by law, including but not limited to: excessive overdrafts or returned items, suspected fraud or illegal activity, failure to provide required documentation, violation of these Terms and Conditions, abuse of Bank personnel, failure to maintain minimum balance requirements, inactivity for extended periods, or business reasons. We will provide notice as required by law, typically 30 days for consumer accounts. In cases of suspected fraud or illegal activity, we may close the account immediately without prior notice.

Accounts with no customer-initiated activity for 12 consecutive months are considered inactive and may be subject to dormancy fees. Accounts inactive for extended periods may be reported to the state as unclaimed property in accordance with applicable escheatment laws.

Any dispute, claim, or controversy arising out of or relating to these Terms and Conditions, your account, or our relationship with you shall be resolved by binding arbitration in accordance with the Federal Arbitration Act. This arbitration agreement does not apply to individual actions in small claims court or to the Bank's right to seek equitable relief in court. Arbitration will be conducted by the American Arbitration Association under its Commercial Arbitration Rules. The arbitrator's decision will be final and binding.

YOU AND THE BANK AGREE THAT EACH PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION. The arbitrator may not consolidate more than one person's claims and may not preside over any form of representative or class proceeding.

TO THE EXTENT THAT ARBITRATION DOES NOT APPLY, YOU AND THE BANK WAIVE THE RIGHT TO A TRIAL BY JURY for any claim or dispute arising out of these Terms and Conditions or your relationship with the Bank.