BusinessExpress Online Banking Agreement

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Effective 8/6/2022
The content on this page is only available in English.
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This Agreement also requires use of arbitration on an individual basis to resolve disputes. Please review the arbitration provision carefully.

General

This Business Online Banking and Mobile Services Agreement ("Business Online Banking Agreement", "Agreement") for accessing your accounts and loans via East West Bank's Business Online Banking Service explains the terms and conditions governing your use of the online banking services offered through the East West Bank and Velo by East West Bank Business Online Banking Applications (as may be updated from time to time, the “Website”) and Business Mobile Banking Applications (as may be updated from time to time, the “Software”), including without limitation Bill Payment Services, Bank-to-Bank External Transfer Services, Internal Transfer Services, Wire Transfer Services, and Account Aggregation Services, as applicable (collectively, "Business Online Banking Service(s)"). The Bank may, from time to time, introduce new Business Online Banking Services and, as applicable, we will update our Business Online Banking and/or Business Mobile Banking Applications to include them. Products and services described in this Agreement and/or otherwise offered via our Website, as well as associated fees, charges, interest rates, balance requirements and other product or service specific features, may differ based on your geographic location, mobile carrier country or other factors, and will be made available solely at the Bank’s discretion. Therefore, not all products and services may be made available to you. This Business Online Banking Agreement will be governed by and interpreted in accordance with all applicable federal laws and regulations and to the extent that such applicable federal law or regulation has not preempted them, in accordance with the laws of the State of California, without regard to its conflicts of laws provisions. As used in this Business Online Banking Agreement, the words "you" and "your" refer to the individual accepting this Agreement and, if applicable, the business entity(ies) they are acting on behalf of. The terms “East West Bank”, “Velo by East West Bank,” “Velo”, "we," "us," "our," and "Bank" refer to East West Bank for its online banking services.

License

You are granted a non-exclusive, non-sublicensable, non-transferable, personal, limited license to install and use the Software only on a mobile or other device that you own or control, solely for your personal use and only as expressly permitted herein. This limited right to use the Software is revocable at our discretion.

Acceptance of Agreement

An Authorized Signer (as identified on the account Signature Card) has the highest level of authorization and is authorized to enter into agreements or enroll for any Services. By using any of the services offered through the Business Online Banking Website or Software you agree to abide by the terms and conditions of this Business Online Banking Agreement at that time. A copy of the Business Online Banking Agreement is available to you on our website.

When you elect to sign up for the Business Online Banking Service electronically and click on "I Accept", you agree to accept the terms and conditions of this Business Online Banking Agreement on behalf of the business entity for which you are an authorized signer or agent acting in an authorized capacity including any future amendments to the Business Online Banking Agreement or changes in the Terms. Additionally, you agree to ensure that no other person uses the Business Online Banking Services with your login credentials.

If you do not agree to all of the terms in the Business Online Banking Agreement, you must cancel your sign up by exiting our website. If you do not accept the terms of the Business Online Banking Agreement then you will not be permitted to use the Business Online Banking Services.

We may change this Business Online Banking Agreement at any time. By using the Business Online Banking Service after the effective date of a change, you agree to the change(s).

Hours of Availability, Banking Days and Cutoff Times

You can generally access your accounts through Business Online Banking seven days a week, 24 hours a day. However, at certain times, some or all of Business Online Banking Services may not be available due to system maintenance or service availability cutoff times. During these times, you may use the telephone voice response unit, or a Bank ATM or branch to conduct your transactions.

Generally, our business days are Monday through Friday, except for federal banking holidays, although some services may have different business days and/or cutoff times specific to that service.

If a cutoff time, day (including business day) and/or other time are otherwise provided in this Agreement, the cutoff time, day (including business day) and/or time will apply to Business Online Banking Service(s) for which they are provided.

Other Agreements

Accessing your accounts through Business Online Banking Website or Software, or using any of the Business Online Banking Services, will also be affected by the agreements between us and you for your East West Bank deposit accounts, credit cards, and loans, including the Business Online Banking Agreement. When you access accounts online, or initiate transactions and/or requests using the Business Online Banking Website or Software, this does not change the agreements you already have with us that govern such accounts, transactions, or requests generally. For example, when you use the Business Online Banking Website or the Software to access your deposit or loan account(s), you do so under the terms and conditions we gave you in the Deposit Agreement and any other terms and condition disclosure(s) or agreements for the specific account or service. You should review those agreements for any applicable fees, for limitations on the number of transfers you can make, and for other restrictions, which might impact your use of an account through the Business Online Banking Website or Software. The terms and conditions of any other such agreements govern the terms and conditions of this Business Online Banking Agreement except that in the event of a conflict, the terms and conditions of this Business Online Banking Agreement shall govern. In the event of a conflict between the terms and conditions of this Business Online Banking Agreement and the terms and conditions of a particular Business Online Banking Service, the terms and conditions of the Business Online Banking Agreement shall govern.

Service and Security Features

The Bank’s Business Online Banking Service allows you to access your accounts from various devices, such as a personal computer, mobile phone or tablet. Prior to accessing your accounts for the first time, you must enroll in our Business Online Banking Services online and define your User Name/ID and Password.

To protect your accounts from unauthorized access, when you login to the Business Online Banking Service for the first time, you will be prompted to provide your email address, which will generate a one-time passcode to the mobile phone number the Bank has on record for you, allowing the Bank to authenticate your identity. You agree to be responsible for providing the Bank with your valid, current mobile phone number, email address and mailing address, and for notifying us immediately in the event of a change to your mobile phone number, email address and/or mailing address.

The Business Online Banking Service enrollment process and/or Service and Security Features may change from time to time upon notice to you.

Business Online Banking Account Registration Restrictions

There are certain types of accounts and account ownerships that are not allowed to have online access. By enrolling in our Business Online Banking Service, you understand and agree that it will be at the discretion of the Bank to determine which of your affiliated business accounts will be accessible in our Business Online Banking Service, AND YOU FURTHER REPRESENT AND WARRANT TO THE BANK THAT YOU HAVE THE LEGAL RIGHTS, POWER AND AUTHORITY TO ACCESS ACCOUNT INFORMATION AND INITIATE ANY REQUESTED TRANSACTION ACTIVITY. For purposes of this Agreement, the term, “business account” or “business accounts” shall mean account(s) held by a business entity (excluding, as example, sole proprietorship accounts held in a non-business product type) for which you are authorized to enter into this Agreement and to use the Business Online Banking Service for the business entity.

Transfer Services

Internal Transfer to an Account at East West Bank

The Internal Transfer Service is an account-to-account transfer service offered by the Bank. This Internal Transfer Service allows you to transfer funds from eligible East West Bank business accounts to other eligible account(s) held by you, the business entity or another eligible recipient at the Bank.

Generally, Internal Transfers initiated using our Business Online Banking Service can be completed between an eligible business account and an eligible account that is held by you in an individual or joint-ownership capacity, or between business accounts that have been specifically designated for internal transfers. The Bank may, from time-to-time and at its sole discretion, make additional ownership types available for the Internal Transfer feature, such as certain sole proprietorship, trust or fiduciary ownership types, and the availability of such either on an exception basis or as part of an enhanced service offering does not change your responsibilities under this Agreement.

For transfers between eligible business deposit accounts, you must be an authorized signer or agent acting in an authorized capacity on both the sending and receiving business deposit accounts, and both the Transfer From and Transfer To accounts must be specifically designated in the Bank’s records as enabled for sending and/or receiving Business Online Banking Internal Transfers between the accounts. Transfers may be a Same-Day One-Time Internal Transfer, or a One-Time or Recurring Scheduled Internal Transfer, depending on service eligibility.
For transfers between your own eligible deposit accounts and eligible business accounts, you must be an individual or joint owner, or an authorized signer or agent acting in an authorized capacity, on both the eligible Transfer From and Transfer To accounts. Transfers may be a Same-Day One-Time Internal Transfer, or a One-Time or Recurring Scheduled Internal Transfer, depending on service eligibility, and may be limited based on the Business Online Banking Service platform.
For transfers (payments) to your eligible Home Equity Line of Credit (HELOC) account(s), you must be an individual or joint owner on the Home Equity Line of Credit (HELOC) and an authorized signer or agent acting in an authorized capacity, on the Transfer From account. Transfers may be Same-Day One-Time Internal Transfers only.

Once an eligible account has been enabled for our Internal Transfer services, you will generally be able to initiate or schedule an Internal Transfer through Business Online Banking seven days a week, 24 hours a day. However, at certain times, some or all of Internal Transfer Service may not be available due to the Bank’s processing schedule, cut-off times, system maintenance or account eligibility.

Eligible Transfer From Account Types
- Eligible East West Bank checking, savings, and money market accounts held by a business entity for which you are an authorized signer or agent acting in an authorized capacity, if access is available through our Business Online Banking Services.
  - Account must meet our ownership and processing criteria at the time the Internal Transfer is requested.
Eligible Transfer To Account Types
- Eligible East West Bank Checking, savings, money market and Home Equity Line of Credit (HELOC) accounts held by you or a business entity for which you are an authorized signer or agent acting in an authorized capacity, if access is available through our Business Online Banking Services.
Ineligible Transaction Account Types
- East West Bank accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank
- Individual Retirement Accounts (IRAs)
- 401 K Accounts
- Your Accounts that are not held in an individual, joint, or certain sole proprietorship, trust or fiduciary ownership capacity (without restrictions);
- Business Accounts that are not specifically designated in the Bank’s records as enabled for sending and/or receiving Business Online Banking Internal Transfers between the accounts and/or that do not meet the eligibility criteria for transfers between your own account and the business account, or accounts that are not otherwise allowed for under a Bank approved exception or as part of an enhanced service offering.
- Certain business account and ownership types, at the Bank’s discretion
- Certificate of Deposit (CD) accounts or other time-based accounts
- Credit Card account and ownership types
- Loan accounts (excluding HELOC)
Regardless, if we make an account available for service selection, you agree that you are solely responsible for ensuring you have all necessary legal rights, power and authority to initiate the requested transaction on the Eligible account(s), and agree to be liable for any and all third party actions, claims, liability, loss and damages (including, but not limited to, reasonable attorneys’ fees), caused by or arising from your actions.

You may have other accounts that are not eligible for this Internal Transfer Service due to Bank policies, procedures and/or restrictions specific to your East West Bank account. Eligibility is determined solely by the records of the Bank, and may change from time-to-time. We are under no obligation to honor an Internal Transfer request, even if we have honored the same request in the past. If in doubt, you should contact us to verify if your account(s) is eligible for the Internal Transfer Service.
Transfers from Money Market and Savings Accounts

You are limited to six preauthorized or electronic funds transfers and telephone transfers, checks and point-of-sale transactions per statement cycle. Each transfer or payment made through the Business Online Banking Service, from a money market or savings account is counted as one of the six limited transfers you’re permitted each statement cycle. We charge a fee for each transaction in excess of this limit (please refer to the applicable Bank Fee Schedule, based on your product type, for fee information).
Account Verification
1. Transfers Between Your Accounts
  - For Internal Transfers between your accounts, we will confirm that you meet the ownership criteria on both the Transfer From and Transfer To accounts at the time the Internal Transfer is initiated or scheduled, and that the account meets our processing criteria.
    - For Scheduled Internal Transfers, processing critera checks will occur before each scheduled transfer and may prevent a previously scheduled transfer from being processed.
2. Transfer to Someone Else’s Account
  - For Internal Transfers between your East West Bank account and another recipient’s account at East West Bank, we will rely on a combination of the Account Name, Account Number, mobile number and/or email address you provide. You are solely responsible for ensuring that the information you provide is accurate and belongs to your designated recipient. We will also confirm that the account meets our ownership and processing criteria at the time the Internal Transfer is initiated or scheduled.

Internal Transfer Amount Limits

Internal Transfer between Your Own Account(s)

Service Type

Limit

Internal Transfer to Your Own Account
Up to the Available to Send amount in your Eligible Transfer From Account1, 2
Internal Transfer to Someone Else’s Account

Service Type

Daily Limit

Rolling 30 Day Limit

Internal Transfer to Someone Else’s Account
$10,000 3

$20,000  4

1                     The Available to Send amount in the Transfer From account will be determined by the Bank at the time we process your transfer instruction.

2                     For transfers to (payments) a HELOC account, the maximum transfer amount cannot exceed the Current Balance on the HELOC as reflected in your Business Online Banking Service. For transfers from (credit line advances) a HELOC account, the minimum transfer amount is $100 and the maximum transfer amount cannot exceed the Available Credit amount on the HELOC as reflected in your Business Online Banking Service.

3                     Daily Limit – the maximum dollar amount you can transfer from your Eligible Transfer From Account each day, as defined below under “Internal Transfer Service Processing Day”, and subject to the Rolling 30 Day Limit

4                      Rolling 30 Day Limit – the maximum dollar amount you can transfer from your Eligible Transfer From Account each rolling 30 days (current day + previous 29 days)
Additional Information Regarding Limits
- Services and Limits are offered at the discretion of the Bank and may be changed or eliminated any time without prior notice to you. Hence, the Limits or Transfer Service options made available to you may be different than listed this Agreement.
- Internal Transfer Limits may be reduced by prior transfer activity initiated during the limit period, and/or the availability of funds in the Account that is funding the transfer.
- The amount that is available to send from your deposit account may be less than the available balance in your account if you have pending Business Online Banking Service initiated transfers that have not yet been deducted from your account.
- You may view your current Transfer Limits by clicking the Transfer Limits and Cutoff Times apply link in the Business Online Banking Service.
  - See Section A. 8. a. Authorization and Processing of the Transfer Services Section of this Agreement for additional details.

Same-Day One-Time Internal Transfer

Processing Day

Account Debited

Account Credited

12:00 AM – 11:59 PM

CENTRAL Standard Time
The SAME Day you initiate the request
The SAME Day you initiate the request 1

1 Final Settlement– Although funds will be transferred and reflected in the To Account balance the same day the transfer was requested, final settlement will not occur until the next Bank Business Day as defined in the Hours of Availability, Banking Days and Cutoff Times Section of this Agreement.

Scheduled Internal Transfer

Processing Day1,2	Account Debited	Account Credited
Scheduled Transfer date is a Business Day	End of Day Processing on Scheduled Transfer date1	End of Day Processing on Scheduled Transfer date1
Scheduled Transfer date is a Non-Business Day	End of Day Processing on the next Business Day1	End of Day Processing on the next Business Day1

1 Scheduled Internal Transfer Date – If the scheduled transfer date occurs on a Business Day, your account will be debited and the transfer will be processed that same day during the Bank’s scheduled nightly processing; otherwise the transfer will be processed during nightly processing on the next Business Day.

See the Hours of Availability, Banking Days and Cutoff Times Section of this Agreement for the definiation of a Business Day.

2 Scheduled Internal Transfer Cut-Off Time – Scheduled Internal Transfer instructions received after 9:00 PM PT on a Business Day may not be processed until the Next Business Day.

Internal Transfer Service Processing Day

Internal Transfer Service Additional Terms
1. Authorization and Processing
  - When we receive an Internal Transfer Instruction from you, you authorize us to debit your Eligible Transfer From Account and credit those funds to the Eligible Transfer To Account you designate in your instruction. The Eligible Transfer To Account must be owned by you, or by another recipient you designate.
  - Same-Day One-Time Internal Transfer
    - The Same-Day One-Time Internal Transfer feature allows you initiate a One-Time same-day transfer between your Eligible Transfer From deposit and HELOC account; or from your eligible Transfer From deposit account to another recipient’s Eligible Transfer To deposit account at the Bank.
    - Funds will be transferred immediately.
  - Scheduled Internal Transfer
    - The Scheduled Internal Transfer feature allows you to schedule a One-Time or Recurring transfer between your eligible deposit accounts at the Bank. A Scheduled Transfer instruction may be Future Dated for up to one-year and, if it is a Recurring instruction, it will continue until the scheduled transfer instruction end-date is reached, or you cancel the Scheduled Internal Transfer.
      - See Section A. 8. b. Transfer Cancellation of the Transfer Services Section of this Agreement for additional details.
    - Funds will be transferred on each scheduled transfer date, as follows:
      - If the scheduled transfer date occurs on a Business Day, your account will be debited and the transfer will be processed during the Bank’s nightly processing schedule for that Business Day.
      - If the scheduled transfer occurs on a Non-Business Day, your account will be debited and the transfer will be processed during the Bank’s nightly processing schedule for the Next Business Day.
  - We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances:
    - If, through no fault of ours, the Eligible Transfer From Account does not contain sufficient funds to complete the transfer;
    - The Transfer From and/or Transfer To Account(s) does not meet the ownership criteria, is closed, or contains restrictive codes and/or an account condition, such as a collection, legal process, or bankruptcy, and in addition for your HELOC, foreclosure or any other events of default as outlined in your loan agreement that prevent us from fulfilling the Internal Transfer request;
    - The account terms and conditions and/or other agreements associated with the account prohibit the requested transfer;
    - The Internal Transfer Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction;
    - You have not provided us with the correct information, including but not limited to the correct Eligible To Account information; and/or,
    - Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances.
  - It is your responsibility to ensure the accuracy of any information that you enter into the Internal Transfer Service, and for informing us as soon as possible if you become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a transfer made to the wrong Account once informed, but we do not guarantee such recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by you.
  - The Bank is not responisible for notifying you if we are unable to process your Internal Transfer, although we may do so at our discretion. It is your responsibility to monitor your Internal Transfer activity, including Scheduled Transfers.
2. Transfer Cancellation
  - Same-Day One-Time Internal Transfer
    - You may not cancel a Same-Day One-Time transfer once it is initiated.
  - Scheduled Internal Transfer
    - A Scheduled Internal Transfer may be cancelled within the Business Online Banking Mobile Application up until 9:00 PM PT on the Business Day of the next scheduled transfer date.
      - If the next scheduled transfer is a Non-Business Day, the transfer must be cancelled by 9:00 PM PT the Business Day prior to the next scheduled transfer date.
3. Refused Transfers
  
  We reserve the right to refuse any transfer request, for any reason and at our discretion.
4. HELOC Payments
  
  When you transfer funds to an eligible HELOC account from your eligible deposit account, the funds will be applied as a payment to reduce the outstanding amount due on the loan, with the payment amount being applied in accordance with the terms and conditions of your loan agreement.
5. Definitions
  - "Account" means a checking, money market, savings or Home Equity Line of Credit (HELOC) account that is either an Eligible Transfer To or Transfer From account, as applicable.
  - "Eligible Transfer From Account" is as defined in Section A. 1. Eligible Transfer From Account Type of the Transfer Services Section of this Agreement.
  - "Eligible Transfer To Account" is as defined in Section A. 2. Eligible Transfer To Account Type of the Transfer Services Section of this Agreement.
  - "Future Dated” means a Scheduled Internal Transfer instruction that is not scheduled to begin processing on the current Business Day.
  - “One-Time” means a single, non-recurring transfer, which may be a Same-Day One-Time Internal Transfer processed on the request date; or a one-time Scheduled Internal Transfer that will be processed on the current Business Day or on a Future Date.
  - "Recurring" means a Scheduled Internal Transfer instruction that will automatically send a recurring payment, for the same amount, to the same Eligible Transfer To Account on a defined frequency until the instruction ends or is cancelled.
  - “Same-Day” for a Same-Day One-Time Internal Transfer means the day the transfer request was made, based on our processing day cut-off time. For a Scheduled Internal Transfer, a same-day transfer can only be scheduled if the request date is a Business Day and the transfer request is made before the request cut-off time.
Your Liability for Unauthorized Transfers.

See the Notice of Claim of Unauthorized Transactions in your Business Account and Unauthorized Transactions in Your Consumer Accounts Sections of this Agreement for details.
Errors, Questions, and Complaints.

See the Notice of Claim of Unauthorized Transactions in your Business Account and In Case of Errors or Questions about Your Electronic Transactions for Consumers Sections of this Agreement for details.

Eligible Transaction Account Types
- Eligible East West Bank checking, savings, and money market accounts held by a business entity for which you are an authorized signer or agent acting in an authorized capacity, if access is available through our Business Online Banking Services.
- Checking, savings, money market checking, and money market savings accounts held at a financial institution or credit union in the United States that are able to accept ACH transfers.
- Investment and brokerage accounts held at other institutions.
Your eligible East West Bank account(s) will be auto-enabled for the External Transfer Service. All of your external accounts will be required to complete our Account Verification process.
- As applicable, the accounts must meet our and the other financial institution’s ownership and processing criteria at the time the External Transfer is requested.
Ineligible Transaction Account Types
- East West Bank accounts that do not meet eligibility requirements as defined by this Agreement or otherwise by the Bank.
- Accounts that are not otherwise allowed for under a Bank approved exception or as part of an enhanced service offering.
- Individual Retirement Accounts (IRAs)
- 401 K Accounts
- Certain custodial and/or Trust Accounts
- Certain business account ownership types, at the Bank’s discretion
- Certificate of Deposit (CD) accounts or other time-based accounts
- Loan accounts (including credit card and equity accounts)
Regardless, if we make an account available for service selection, you agree that you are solely responsible for ensuring you have all necessary legal rights, power and authority to initiate the requested transaction on the Eligible account(s), and agree to be liable for any and all third party actions, claims, liability, loss and damages (including, but not limited to, reasonable attorneys’ fees), caused by or arising from your actions.

You may have other accounts that are not eligible for this External Transfer Service due to Bank policies, procedures and/or restrictions specific to your East West Bank account or to your account at the other bank, credit union or other institution. Eligibility is determined by the records of the Bank, our Service Providers and the External financial institution or brokerage company. The Bank and our Service Providers are under no obligation to honor an External Transfer request, even if we have honored the same request in the past. If in doubt, you should contact us or the External financial institution or brokerage company directly to verify if your account(s) is eligible for ACH external transfers to or from another financial institution.
Transfers from Money Market and Savings Accounts

You are limited to six preauthorized or electronic funds transfers and telephone transfers, checks and point-of-sale transactions per statement cycle. Each transfer or payment made through the Business Online Banking Service from a money market or savings account is counted as one of the six limited transfers you’re permitted each statement cycle. We charge a fee for each transaction in excess of this limit (please refer to the applicable Bank Fee Schedule, based on your product type, for fee information).
External Account Verification

We may verify the account(s) you add to the External Transfer Service. You authorize us to validate your account(s) at your other bank, credit union or other institution using one or more of the following methods, subject to availability:
1. Online (Real Time)
  - If you have online access to your other financial institution, then the external accounts you are adding can be verified in real time. If the account information can be accessed online with the username and password you provide, the account is approved.
2. Trial Deposit
  - The Trial Deposit method makes one or two small deposits to the external account and requests that you confirm the amounts deposited. You must confirm the amount by typing in the values of the deposits at the External Transfer verification page in our Business Online Banking Service. If the entered values match the Trial Deposit amounts, the account is approved.
  Accounts held at East West Bank will not require account verification, although they must meet our ownership and processing criteria at the time the Internal Transfer is requested.
3. Instant Verification
  - Instant Verification uses your online banking credentials to verify your authority to access a designated External Account at another financial institution. Use of our Instant Verification service is currently limited to consumer account use only.
    
    In order to link an External Account for the purpose of initiating transfers to your eligible East West Bank consumer account using the Online Banking Service, you will be required to provide certain information, including but not limited to the financial institution name and/or routing number and the external account number. You will also be required to enter your online banking credentials (username and password) for your Business online banking service at the other financial institution.
    - If you do not have online banking access to your External Account, or if your other financial institution does not support this service, then you will not be able to link the External Account using our Business Online Banking Service.
  - By using Instant Verification, you authorize us and our Services Providers to use the information you entered to access third party sites and retrieve information, on your behalf, for the purpose of verifying your authority to access the designated External Account.
  - Before using Instant Verification you should carefully review the privacy policy of the Service Provider, which will be made available to you at the time you request the service.
    - If you do not agree to the terms of this Agreement or the terms of the Service Provider’s privacy policy, then you should not use this service.

External Transfer Amount Limits

External Transfer To/From Your Own Account(s)

Service Type	Limit Type	Inbound Limit 3	Outbound Limit
Standard Transfers	Per Transaction Limit	$10,000	$10,000
	Daily Maximum 1	$10,000	$10,000
	Monthly Maximum 2	$20,000	$20,000
Express Transfers	Per Transaction Limit	Not applicable	$10,000
	Daily Maximum 1	Not applicable	$10,000
	Monthly Maximum 2	Not applicable	$20,000

1 Daily is a Business Day as defined below under “Business Days for External Transfers”

2 Monthly is defined as a rolling 30 days, not a calendar month

3 Inbound External Transfer access is subject to availability

External Transfer To Someone Else’s Account

Service Type	Limit Type	Outbound Limit
Standard Transfers	Per Transaction Limit	$10,000
	Daily Maximum 1	$10,000
	Monthly Maximum 2	$20,000
Express Transfers	Per Transaction Limit	$10,000
	Daily Maximum 1	$10,000
	Monthly Maximum 2	$20,000

1 Daily is a Business Day as defined below under “Business Days for External Transfers”

2 Monthly is defined as a rolling 30 days, not a calendar month

Additional Information Regarding Limits

Services and Limits are offered at the discretion of the Bank and may be changed or eliminated any time without prior notice to you. Hence, the limits or Transfer Service options made available to you may be different than listed above.
- External Transfer Limits may be reduced by pending transfers or transfers completed during the limit period, and/or the availability of funds in the Account that is funding the transfer.
- The amount that is available to send from your deposit account may be less than the available balance in your account if you have pending Business Online Banking Service initiated transfers that have not yet been deducted from your account.
- You may view your current Transfer Limits by clicking the Transfer Limits and Cutoff Times apply link in the Business Online Banking Mobile Service.
  - See Section B. 9. a. Description of Service, Authorization and Processing of the Transfer Services Section of this Agreement for additional details.

Processing/Cutoff Times

Service Type

Cutoff Time

Debited

Credited

Standard Transfers

10:00 PM

Pacific Time

The FIRST Business Day after you initiate request

The THIRD Business Day after you initiate request

Express Transfers

5:00 PM

Pacific Time

The FIRST Business Day after you initiate request

Business Days for External Transfers
- The business days for the External Transfer Service are Monday through Friday, except for U.S. federal banking holidays.
  - Depending upon the other financial institution, it may take an additional business day for the transaction to be reflected in the account balance of the destination account
Scheduled or Recurring External Transfers
- Subject to availability, you may use the External Transfer Services to schedule a one-time or recurring transfer for up to one-year in the future. However, these transfers are still subject to the Per Transaction/Daily/Monthly limits defined in Section B. 5. External Transfer Amount Limits.
A one-time future dated or recurring External Transfer scheduled to be initiated on a weekend or non-bank business day will be initiated on the next business day and is subject to the same terms and conditions as any other External Transfer initiated through the External Transfer Service.
External Transfer Service Additional Terms
1. Description of Service, Authorization and Processing
  - The term “Transfer Money Terms” means these External Transfers Service Additional Terms. The External Transfer Service (for purposes of these Transfer Money Terms, and the External Transfer to an Account at Other Bank terms as they apply to these Transfer Money Terms, the "External Transfer Service") enables you to transfer funds between your Account(s) that you maintain with us on the one hand, and your Account(s) that are maintained by other financial institutions, on the other hand. You represent and warrant that you are either the sole owner or a joint owner, or an authorized signer or agent acting in an authorized capacity, of the Eligible Transaction Account and the External Account and that you have all necessary legal right, power and authority to transfer funds between the Eligible Transaction Account and the External Account. If you are a joint owner, or an authorized signer or agent on the Eligible Transaction Account, External Account, or both, then you represent and warrant that (i) you have been authorized by all of the other joint owners or otherwise have the legal authority to operate such Accounts without additional consent (including without limitation to withdraw or deposit any amount of funds to such Accounts or to even withdraw all funds from such Accounts); and (ii) we may act on your instructions regarding such Accounts without liability to such other owners. Further, you represent and warrant that the External Account is located in the United States.
  - When we receive a Transfer Instruction from you, you authorize us to (i) debit your Eligible Transaction Account and remit funds on your behalf to the External Account designated by you and to debit your applicable Account as described in the Transfer Services Section of this Agreement; or, as applicable and if the option is made available to you, to (ii) credit your Eligible Transaction Account and remit funds on your behalf from the External Account designated by you and to debit your applicable Account as described in the Transfer Services Section of this Agreement. You also authorize us to reverse a transfer from the applicable Account if the debit is returned from the other Account in the transaction for any reason, including but not limited to nonsufficient funds.
  - We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances:
    - If, through no fault of ours, the Eligible Transaction Account or External Account does not contain sufficient funds to complete the transfer or the transfer would exceed the credit limit of your overdraft account;
    - The External Transfer Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction;
    - The transfer is refused as described in Section B. 9. c . Transfer Cancellation Requests and Refused Transfers of the Transfer Services Section of this Agreement;
    - You have not provided us with the correct information, including but not limited to the correct Eligible Transaction Account or External Account information; and/or,
    - Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances.
  - It is your responsibility to ensure the accuracy of any information that you enter into the External Transfer Service, and for informing us as soon as possible if you become aware that this information is inaccurate. You may not use a P.O. Box as a postal address. We will make a reasonable effort to stop or recover a transfer made to the wrong Account once informed, but we do not guarantee such recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by you.
2. Transfer Methods and Amounts. See Section B. 15. Payment Methods and Amounts of the Transfer Services Section of this Agreement applies to the External Transfer Service, even in circumstances where the External Account is closed and we are attempting to return funds to such Account.
3. Transfer Cancellation Requests and Refused Transfers. You may cancel a transfer at any time until it begins processing (as shown in the External Transfer Service). We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Account that we debited for the funds transfer. If this is unsuccessful (for example, the Eligible Transaction Account has been closed) we will make reasonable attempts to otherwise return the funds to you.
4. Stop Payment Requests. If you desire to stop any transfer that has already been processed, you must contact us as instructed in the Notice of Claim of Unauthorized Transactions in your Business Account and In Case of Errors or Questions about Your Electronic Transactions for Consumers Sections of this Agreement. Although we will make a reasonable effort to accommodate your request, we will have no liability for failing to do so. We may also require you to present your request in writing within fourteen (14) days. The charge for each request will be the current charge for such as set out in our fee schedule (please refer to the applicable Bank Fee Schedule, based on your product type, for fee information).
  
  For transfers you have initiated to debit funds from a linked External Account, you will need to contact the financial institution where that account is maintained in order to place a stop payment.
5. Service Fees and Additional Charges. You are responsible for paying all fees associated with your use of the External Transfer Service. Applicable fees will be disclosed in the user interface for, or elsewhere within, the External Transfer Service or our Business Online Banking Website or Software. Any applicable fees will be charged regardless of whether the External Transfer Service was used, except for fees that are specifically use-based. Use-based fees for the External Transfer Service will be charged against the Account that is debited for the funds transfer. There may also be charges for additional transactions and other optional services. You agree to pay such charges and authorize us to deduct the calculated amount from the applicable Eligible Transaction Account you hold with us or the Account that is debited for the funds transfer, depending on how such charges are described in the user interface for the External Transfer Service. Any financial fees associated with your standard deposit accounts will continue to apply. You are responsible for any and all telephone access fees and Internet service fees that may be assessed by your telephone and Internet service provider. Section B. 19. Failed or Returned Payment Instructions of the Transfer Services Section of this Agreement applies if you do not pay our fees and charges for the External Transfer Service, including without limitation if we debit the External Account for such fees, as described in this Section, and there are insufficient funds in the External Account; and should also be interpreted as applying to the External Account, not just the Eligible Transaction Account, in such circumstances.
6. Refused Transfers. We reserve the right to refuse any transfer. As required by applicable law, we will notify you promptly if we decide to refuse to transfer funds.
7. Returned Transfers. In using the External Transfer Service, you understand transfers may be returned for various reasons such as, but not limited to, the External Account number is not valid. We will use reasonable efforts to research and correct the transfer to the intended Account or void the transfer and credit your Account from which you attempted to transfer funds. You may receive notification from us.
Our Relationship With You

We are an independent contractor for all purposes, except that we act as your agent with respect to the custody of your funds for the External Transfer Service. We do not have control of, or liability for, any products or services that are paid for with our External Transfer Service. We also do not guarantee the identity of any user of the External Transfer Service (including but not limited to recipients to whom you send payments).
Privacy of Others

If you receive information about another person through the External Transfer Service, you agree to keep the information confidential and only use it in connection with the External Transfer Service.
Eligibility

The External Transfer Service is offered only to individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, the External Transfer Service is not offered to minors unless the minor is at least 18 years of age and is using an Eligible Transaction Account in the name of the minor. By using the External Transfer Service, you represent that you meet these requirements and that you agree to be bound by this Agreement.
Prohibited Payments

See the Prohibited Payments Section of this Agreement for details
Acceptable Use

See the Acceptable Use Section of this Agreement for details
Payment Methods and Amounts

There are limits on the amount of money you can send or receive through our External Transfer Service. Your limits may be adjusted from time-to-time in our sole discretion. You may log in to our Business Online Banking Service to view your individual transaction limits. We or our Service Provider also reserve the right to select the method in which to remit funds on your behalf though the External Transfer Service, and in the event that your Eligible Transaction Account is closed or otherwise unavailable to us the method to return funds to you. These payment methods may include, but may not be limited to, an electronic debit.
Your Liability for Unauthorized Transfers

See the Notice of Claim of Unauthorized Transactions in your Business Account and Unauthorized Transactions in Your Consumer Accounts Sections of this Agreement for details.
Errors, Questions, and Complaints.

See the Notice of Claim of Unauthorized Transactions in your Business Account and In Case of Errors or Questions about Your Electronic Transactions for Consumers Sections of this Agreement for details.
Taxes

It is your responsibility to determine what, if any, taxes apply to the transactions you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
Failed or Returned Payment Instructions

In using the External Transfer Service, you are requesting that we or our Service Provider attempt to make payments for you from your Eligible Transaction Account. If the Payment Instruction cannot be completed for any reason associated with your Eligible Transaction Account (for example, there are insufficient funds in your Eligible Transaction Account, or the Payment Instruction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment), the Payment Instruction may or may not be completed. In certain circumstances, our Service Provider may either advance funds drawn on their corporate account or via an electronic debit, and in such circumstances will attempt to debit the Eligible Transaction Account a second time to complete the Payment Instruction. In some instances, you will receive a return notice from us or our Service Provider. In each such case, you agree that:
1. You will reimburse our Service Provider immediately upon demand the amount of the Payment Instruction if the payment has been delivered but there are insufficient funds in, or insufficient overdraft credits associated with, your Eligible Transaction Account to allow the debit processing to be completed;
2. You may be assessed costs of collection by our Service Provider or their third-party contractor if the Payment Instruction cannot be debited because you have insufficient funds in your Eligible Transaction Account, or the transaction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment, or if the funds cannot otherwise be collected from you. The aforesaid amounts will be charged in addition to any NSF charges that may be assessed by us, as set forth in your fee schedule from us (including as disclosed on our Business Online Banking Website or Software) or your account agreement with us limit (please refer to the applicable Bank Fee Schedule, based on your product type, for fee information). You hereby authorize us and our Service Provider to deduct all of these amounts from your designated Eligible Transaction Account, including by ACH debit;
3. Service Provider is authorized to report the facts concerning the return to any credit reporting agency.
Information Authorization

Your enrollment in the External Transfer Service may not be fulfilled if we cannot verify your identity or other necessary information. See the Information Authorization Section of this Agreement for details.
Service Termination, Cancellation, or Suspension

If you wish to discontinue use of the External Transfer Service, please terminate your Business Online Banking Service as outlined in the Cancellation section. Any payment(s) that have begun processing before the requested cancellation date will be processed by us. You agree that we may terminate or suspend your use of the External Transfer Service at any time and for any reason or no reason. Neither termination, cancellation nor suspension shall affect your liability or obligations under this Agreement.
Errors, Questions, and Complaints.

See the Notice of Claim of Unauthorized Transactions in your Business Account and In Case of Errors or Questions about Your Electronic Transactions for Consumers Sections of this Agreement for details.
Exclusions of Warranties

See Exclusion of Warranties Section of this Agreement for details.
Limitation of Liability

See Section D. Additional Limitations for External Transfer and Bill Payment of the Limitations on Liability Section of this Agreement for details.
Definitions
1. "Account" means a checking, money market or savings account that is either an Eligible Transaction Account or External Account, as applicable.
2. "ACH Network" means the funds transfer system, governed by the NACHA Rules, that provides funds transfer services to participating financial institutions.
3. "Affiliates" are companies related by common ownership or control.
4. "Available to Send" is the amount in your deposit account that is available to transfer. This amount may be less than the available balance in your account if you have pending Business Online Banking Service initiated transfers that have not yet been deducted from your account.
5. "Business Day" is every Monday through Friday, excluding Federal Reserve holidays or other days that banks are legally closed.
6. "Eligible Transaction Account" is a checking, money market or savings account that you hold with us from which your payments will be debited, your External Transfer Service fees, if any, will be automatically debited, or to which payments and credits to you will be credited, that is eligible for the External Transfer Service.
7. "External Account" is your account at another financial institution (i) to which you are transferring funds from your Eligible East West Bank Account; or (ii) from which you are transferring funds to your Eligible East West Bank Account, if that option is made available to you.
8. "Payment Instruction" is the information provided for a payment to be made under the External Transfer Service.
9. "Payment Network" means a debit or credit network (such as the ACH Network or ACCEL / Exchange payment network) through which funds may be transferred.
10. "Service Provider" means companies that we have engaged (and their Affiliates) to render some or all of the External Transfer Service to you on our behalf.
11. "Transfer Instruction" is a specific Payment Instruction that you provide to the External Transfer Service for a transfer of funds.

External Transfer To/From an Account at Another Bank

The External Transfer Service allows you to transfer funds to or from an eligible East West Bank business account(s) held by a business entity for which you are an authorized signer or agent acting in an authorized capacity and other eligible account(s) held by the business entity at another financial institution or brokerage company in the United States, subject to service availability. Transfers to or from your accounts can only be completed between accounts that are owned by the same account holder or entity. Transfers from your eligible East West Bank account to an account at another bank can be one-time, scheduled, or recurring, subject to availability. Transfers to your eligible East West Bank account from your account at another financial institution can be initiated as a one-time transfer request, subject to verification and availability.

In order to use the External Transfer Service, you have to be an Business Online Banking Service customer of East West Bank and each person must have a unique email address.

By using the External Transfer Service to link to your account at another financial institution, you represent and warrant that you have full transactional authority (i.e. the ability to initiate credits, debits, and withdrawals) on the designated External Account and that the External Account has no restrictions limiting such authority (i.e. a fiduciary account where you are the trustee or agent without the legal authority to authorize such activity, a court order blocking the account, an account that is subject to a garnishment order, etc.)

We are offering you the External Transfer Service through one or more Service Providers that we have engaged to render some or all of the External Transfer Service to you on our behalf. However, not with standing that we have engaged such Service Providers to render some or all of the External Transfer Service to you, we remain obligated to you for any payments or transfers conducted using the External Transfer Service and we are responsible to you and any third party to the extent any liability attaches in connection with the External Transfer Service. You agree that we have the right under this Agreement to delegate to Service Providers all of the rights and performance obligations that we have under this Agreement, and that the Service Providers will be third party beneficiaries of this Agreement and will be entitled to all the rights and protections that this Agreement provides to us. You agree to indemnify and hold us and our Service Providers harmless (including the payment of reasonable attorney’s fees) from any and all liability to third parties related to the stated authority of your External Account or any actions taken by us pursuant to your External Transfer instructions. Service Provider and certain other capitalized terms are defined in a "Definitions" Section.

Service Type	Limit
Internal Transfer to Your Own Account	Up to the Available to Send amount in your Eligible Transfer From Account1, 2

Service Type	Daily Limit	Rolling 30 Day Limit
Internal Transfer to Someone Else’s Account	$10,000 3	$20,000 4