1 Introduction and Binding Contract
This Deposit Account Agreement, along with the Fee Schedule, Rate Disclosures, and Privacy Policy (collectively, the "Agreement"), forms a binding legal contract between the account owner ("Client", "you", or "your") and Prime Global Bank National Association ("the Bank", "we", "us", or "our").
By opening an account, signing an application, maintaining funds on deposit, or authorizing transactions through our online banking rails, you agree to comply with all terms and conditions set forth herein.
2 Account Eligibility, KYC & USA PATRIOT Act
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
- Identity Verification: When you open an account, we collect your legal name, physical residential street address, date of birth, taxpayer identification number (SSN/ITIN/EIN), government-issued identification credentials, and other verifying documentation.
- Institutional Due Diligence: For corporate, wealth management, or high-tier accounts, we may request source-of-wealth documentation, tax filings, or commercial entity registration records before activating clearing rails.
- Dedicated Wealth Advisor Allocation: Accounts opened through an authorized advisor referral code will be affiliated with the assigned wealth desk for institutional custody and clearance facilitation.
3 Deposits, Collections & Funds Availability
Our Funds Availability Policy complies with Federal Reserve Regulation CC (12 C.F.R. Part 229).
- Electronic Direct Deposits & Inbound ACH: Funds transferred via electronic direct deposit (payroll, government disbursements) are available on the business day we receive final settlement.
- Domestic Wire Transfers: Incoming domestic Fedwire transfers are available immediately upon final crediting from the Federal Reserve Bank.
- International SWIFT Transfers: Incoming international wires are subject to OFAC sanctions screening and correspondent clearing verification prior to credit.
- Mobile Check Deposit: Funds deposited via mobile check capture are subject to standard verification holds (typically 1 to 5 business days, with institutional expedited clearance available for premier clients).
4 Withdrawals, Payment Rails & Outbound Transfers
Withdrawals may be executed through our authenticated digital banking portal, wire clearing desk, debit card networks, or scheduled bill pay routines:
- Internal Book Transfers: Transfers between your accounts or to other Prime Global Bank clients execute in real time with instant ledger settlement.
- Domestic & International Wires: Outbound wire transfers require authorization via your 4-digit security PIN and multi-factor authentication (OTP/Security Clearance). Standard cut-off times apply for same-day processing (4:00 PM EST).
- Transaction Limits: Daily, weekly, and monthly velocity limits apply based on your account tier (Standard, Premium Private, Institutional Sovereign). Limit increases may be requested through your dedicated advisor.
5 Digital Asset & Institutional Crypto Custody Addendum
Prime Global Bank provides clients with digital asset capabilities, including instant Buy/Sell spot execution against your USD Checking account and secure storage for supported cryptocurrencies (Bitcoin, Ethereum, Tether USDT):
- Strict Administrative Wallet Assignment: To prevent fraud and ensure compliance with FinCEN Travel Rule standards, on-chain deposit addresses are individually assigned by the Bank's treasury desk in the administrative portal. Addresses are never randomly generated client-side.
- Irreversibility of Blockchain Transfers: Once an outbound cryptocurrency transaction is broadcast to the public blockchain network, it is irrevocable and cannot be cancelled, modified, or refunded by the Bank.
- Regulatory Notice: Cryptocurrency assets held in your vault are digital assets and are not insured by the FDIC or any government agency. Digital assets are subject to market volatility risks. Fiat funds in your checking and savings accounts remain fully FDIC-insured up to statutory limits.
6 Multi-Currency Balances & Foreign Exchange (FX)
Clients maintaining accounts denominated in non-USD currencies (e.g., EUR, GBP, CAD, AUD, CHF, JPY, SGD, AED) agree that conversion rates applied to cross-currency payments will reflect the institutional mid-market interbank rate plus any applicable spread disclosed at the time of order execution.
7 Client Duty of Care, PINs & Error Reporting
Under Regulation E (12 C.F.R. Part 1005), you must review your account statements and digital activity regularly:
- Security Duty: You must maintain strict confidentiality of your username, password, 4-digit wire PIN, and one-time passcodes. You must never disclose authentication codes to third parties or unauthorized callers.
- Notice of Unauthorized Transactions: You must notify us immediately upon discovering any unauthorized transfer, lost credentials, or fraudulent activity. If you fail to notify us within sixty (60) days after we transmit the account statement showing the unauthorized transaction, you may be liable for all subsequent losses.
8 Account Freezes, Restraints & Termination
The Bank reserves the right to restrict, freeze, or terminate account access if we detect suspicious transactional patterns, conflicting ownership claims, legal process (subpoenas, tax levies, court orders), or failure to satisfy ongoing KYC refresh obligations.
9 Governing Law & Binding Arbitration
This Agreement and any dispute arising out of or related to your accounts are governed by federal banking statutes, the rules of the Federal Reserve System, the Uniform Commercial Code (UCC), and the laws of the State of Delaware, without giving effect to conflict of laws principles.
Any controversy or claim arising out of or relating to this Agreement shall be settled by binding individual arbitration administered by the American Arbitration Association (AAA) in accordance with its Commercial Arbitration Rules.