Last Updated: August 21, 2024
The following Everlance Business Deposit Account Agreement Disclosures (the “Disclosures”) applies to the demand deposit account (the “Account”) issued by Lincoln Savings Bank (the “Bank”), member of the Federal Deposit Insurance Corporation (“FDIC”) and chartered under the laws of the State of Iowa. These Disclosures are incorporated by reference into the Lincoln Savings Bank Business Deposit Account Agreement (the “Agreement”) and Lincoln Savings Bank Business Visa Debit Cardholder Agreement (the “Cardholder Agreement”). Everlance Inc. (“Program Partner”) is responsible for assisting the Bank with the administration of the Everlance Business Deposit Account Program (the “Program”). Capitalized terms not otherwise defined herein are ascribed the same meaning as set forth in the Agreement.
For most matters, you should email us at support@everlance.com or contact us via the Online Banking Application. You may also contact us at (872) 814-6308, Monday through Friday from 9:00 to 5:00 EST, and on Saturday and Sunday from 12:00 to 3:00 EST. The Program Partner’s website is available at https://www.everlance.com/.
For questions or concerns about any non-card transactions, including, but not limited to: (i) suspected errors or unauthorized EFTs; or (ii) if you would like to place a stop payment request for preauthorized transfers, please contact us at support@everlance.com or Online Banking Application.
If applicable, for questions or concerns about adding and/or deleting Authorized Users; checking your current interest rate; substitute checks or check standards; or closing your Account, please contact us at support@everlance.com or Online Banking Application.
For questions or concerns about updating your name, address, or other contact information; identity theft; reporting account takeover; checking the status of a transaction; or providing instructions regarding a transaction, such as direct deposits and other incoming ACH transactions, please contact us at support@everlance.com.
We offer two (2) types of Account tiers: Tier 1 and Tier 2.
Upon account opening, you will be provided with a Tier 1 Account. You may be eligible for Tier 2 Account designation if you demonstrate an Account deposit rate that exceeds $100,000 in monthly average deposits over a thirty (30) day period.
The Account type that you are placed in may affect your transaction limitations as set forth in the Disclosures. Unless otherwise stated in the Disclosures, all terms contained in the Agreement apply equally to all Account tiers.
To open an Account, you must agree to go “paperless.” This means that you must (a) provide us with and continue to maintain a valid email address and (b) accept electronic delivery of all communications that we need or decide to send you in connection with your Account by agreeing to the Esign Consent document.
You may open an Account by visiting the Program Partner’s website at https://www.everlance.com/ and following the instructions there.
There is no minimum deposit required to open an Account and no minimum balance you need to maintain in your Account.
This Account is not interest-bearing. No interest will be paid on this Account.
Information about your Account and your transactions is collected pursuant to the Agreement. The Program Partner’s privacy policy is available at https://www.everlance.com/privacy.
You may make deposits into your Account using any of these methods described below. We do not charge you any fees for making deposits. .
It is our policy to make deposits to your Account available for withdrawal according to the table provided in the “Our Funds Availability Policy” section of the Agreement, except where limited by us pursuant to the “Transfers To or From Connected U.S. Bank Accounts” section of the Agreement.
Your Account supports the following types of deposits:
You, or, if applicable, an Authorized User, may withdraw funds up to the amount of your Available Balance less applicable fees using any of the methods below and subject to the following limits:
We do not offer overdraft services or charge fees for overdrafts or non-sufficient funds. We typically will return or decline to process a transaction (including, where applicable, ATM and debit card transactions) if it exceeds your Available Balance.
However, it is still possible for you to overdraft your Account, such as when you write checks (since there is a delay between when you write the check and when we receive it for processing), when we settle authorized debit card transactions, as discussed in the “Debit Card Authorization” section of the Agreement, or if a deposit you make is returned.
You must make a deposit immediately to cover any negative balance, including a negative balance resulting from an overdraft. If your Account has a negative balance for sixty (60) calendar days or more, we may close your Account. We reserve the right to close your Account at an earlier date, as permitted by law.
There are no fees associated with this Account. Fees are subject to change at any time. We will provide you advance notice of any changes where required by law.
Your Account supports the following types of EFTs:
The ACH Origination Services is enabled for your Account; therefore, the ACH Origination Service section of the Agreement applies to your Account.
The Check Deposit Services are not enabled for your Account; therefore, the Check Deposits, Mobile Deposit Services, and Check Writing section of the Agreement is not applicable to your Account.
Wire transfers are not enabled for your Account; therefore, the Wire Transfers section of the Agreement is not applicable to your Account.
Debit cards are not enabled for your Account; therefore, the Cardholder Agreement is not applicable.
You are permitted to designate Authorized Users for your Account.
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