1. Account Agreement
These Account Terms and Conditions ("Account T&Cs") govern the relationship between EastWest Saving Bank ("the Bank") and you ("the Account Holder") in respect of any account you hold with the Bank. By completing the account registration process and accepting these Account T&Cs, you enter into a binding agreement with EastWest Saving Bank.
These Account T&Cs should be read together with our Terms of Service and Privacy Policy. In the event of any conflict, these Account T&Cs will take precedence in respect of account-specific matters.
2. Account Types
2.1 Checking Account
A checking account is a transactional account designed for everyday use. It allows you to receive deposits, make transfers, and pay bills. There is no minimum balance requirement unless otherwise stated in your account agreement.
2.2 Savings Account
A savings account is designed for the accumulation of funds. Interest, if applicable, is calculated and credited in accordance with the rate schedule applicable at the time.
3. Account Opening
Account opening is subject to successful completion of our identity verification process and approval by our compliance team. Approval is not guaranteed. We reserve the right to decline an application without being required to state a reason, subject to applicable anti-discrimination law.
You must provide accurate, complete, and current information during the application process. Providing false or misleading information may result in immediate account closure and may be reported to relevant authorities.
4. Operating Your Account
You are responsible for all activity on your account. You must ensure that any person you authorise to use your account does so within the limits you set and in compliance with these Account T&Cs.
Transactions will be processed in accordance with the instructions you provide through the online banking dashboard. It is your responsibility to verify the accuracy of all transaction details before confirming.
5. Deposits
Deposits credited to your account by our administrative team will be reflected in your balance when processed. The Bank does not guarantee acceptance of any particular deposit source. We reserve the right to return or decline deposits where we have concerns regarding their origin or compliance with applicable law.
6. Withdrawals and Transfers
You may transfer funds between your own accounts or, where applicable, to external accounts, subject to any limits, conditions, or restrictions applicable to your account. The Bank reserves the right to place holds on funds or to delay the processing of transfers pending verification.
We will not process a transfer that would result in your account balance falling below any applicable minimum, or that would cause an overdraft, unless you have a pre-approved overdraft facility.
7. Account Restrictions and Closures
We may restrict, suspend, or close your account in the following circumstances:
- You have provided false or misleading information.
- We have reason to believe your account is being used for fraudulent, unlawful, or prohibited activity.
- We are required to do so by applicable law, regulation, or court order.
- Your account has been inactive for an extended period without contact.
- You have breached any material term of this agreement.
Where we restrict or close your account, we will notify you and, unless prohibited by law, explain the reason. Where funds remain in a closed account, we will arrange for their return to you in accordance with applicable law.
8. Electronic Communications
By creating an account, you consent to receive account-related communications by email and through your online banking dashboard. This includes notifications of account status changes, transaction confirmations, and administrative communications.
You are responsible for maintaining a valid and accessible email address and for regularly checking your dashboard for notifications.
9. Customer Responsibilities
You agree to:
- Keep your login credentials confidential and not share them with any person.
- Notify us immediately if you suspect your account has been accessed without your authorisation.
- Promptly report any transaction you believe to be incorrect or unauthorised.
- Ensure that all information you provide to us is accurate and up to date.
- Comply with all applicable laws and regulations in your use of the Service.
10. Amendments
We may amend these Account T&Cs at any time. We will provide you with at least 30 days' advance notice of any material change, unless a shorter period is required by applicable law. Your continued use of the account after the effective date of a change constitutes acceptance of the amended terms.
11. Governing Law and Disputes
These Account Terms and Conditions and any dispute arising out of or in connection with your account are governed by the laws of the United States and the laws of the state in which EastWest Saving Bank is established, without regard to conflict-of-law principles. You agree that the courts located in that jurisdiction will have exclusive authority to resolve any dispute, although we may seek injunctive relief in any jurisdiction to protect our rights.
12. Contact
For account-specific enquiries, contact us through your secure dashboard support or via the Contact page.