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be legally incompetent by a court or other appropriate 

administrative body, or for withdrawals that constitute 

required minimum distributions from your IRA CD, 

in each case subject to the provision of supporting 

documentation satisfactory to us. Upon the death of 

an IRA CD Accountholder, if a surviving spouse is the 

sole beneficiary, then the surviving spouse must close 

the IRA CD and either (a) open a new IRA CD in the 

surviving spouse’s name with the IRA CD term ending 

on the same date and with the same interest rate and 

APY as the original IRA CD, or (b) receive the funds as a 

distribution or a rollover.

(iv)  General: Closed Accounts remain subject to the other 

provisions of this Agreement. We may advise consumer 

reporting agencies and other third parties of an 

Account that is closed for misuse, as permitted by law.

(25) RESERVED

(26) AMENDMENTS, ACCOUNT CHANGES AND NOTICES

We may amend this Agreement at any time. We will send 

you a notification 30 days prior to the effective date of any 

amendment that is adverse to you. If you are unwilling to 

agree to such amendments, you have the right to close your 

Account prior to the changes taking effect, subject to any Early 

Withdrawal Penalties. Your continued use of the Account after 

the effective date of the change constitutes your agreement 

to any amendment. Notices will be sent to the most recent 

address shown on our records for your Account. Any notice to 

one Accountholder constitutes notice to all Accountholders. It is 

your responsibility to notify us of any changes in your address or 

name, or if an Accountholder dies. If we are notified by the  

U.S. Postal Service that your address has changed, we will 

change your address in our records and send notice to you of  

the change.

(27) ELECTRONIC FUND TRANSFER (EFT)

“EFT” or “transfer”, as used in Sections 27 and 28, means any 

electronic fund transfer transaction that is initiated through an 

electronic terminal, telephone, facsimile machine, computer 

or magnetic tape for the purpose of ordering, instructing or 

authorizing us to debit or credit your Account. The following 

details your rights in regards to EFTs. You may call us if you have 

any questions about your rights. Refer to Section 28 for written 

notification requirements.

(a) Stop Payment of Preauthorized Transfers

If you have told us in advance to make regular payments out 

of your Account, or you have authorized a third party to debit 

your Account via EFT, you can stop any of these payments. 

Here’s how: Call us at 1-800-347-7000, come into the Branch 

or write us at Discover Bank, PO Box 30416, Salt Lake City, 

UT 84130. For payments you have authorized us to make, (i) 

if you make a stop payment order by phone, we must receive 

it no later than 5PM Eastern Time on the date the payment 

is scheduled to be made, or (ii) if you send a stop payment 

order in writing, we must receive your order in such time and 

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in such manner as to allow us a reasonable opportunity to act 

upon it, which will be no less than three (3) Business Days. 

For payments you have authorized a third party to make from 

your Account via EFT, (i) if you make a stop payment order by 

phone, we must receive the order before the debit has posted 

to your Account, or (ii) if you send a stop payment order in 

writing, we must receive your order in such time and in such 

manner as to allow us a reasonable opportunity to act upon 

it, which will be no less than three (3) Business Days. If you 

call, we may also require you to put your request in writing and 

get it to us within 14 days after you call. You must provide us 

with your Discover Account number, the name of the payee, 

the date and the payment amount. The stop payment order is 

effective for six (6) months from the date you ordered the stop 

payment. If you would like to renew the stop payment after 

the effective period of six (6) months, you must call us, come 

into the Branch or send us a written request. For payments 

initiated by a third party, (i) you should notify the third party 

that you have withdrawn your authorization for the payment, 

and (ii) a fee will apply to each stop payment order you give.

(b) Notice of Varying Amounts

If these regular payments vary in amount, the person you are 

going to pay will tell you ten (10) days before each payment, 

when it will be made and how much it will be. You may choose 

instead to get this notice only when the payment would differ 

by more than a certain amount from the previous payment, or 

when the amount would fall outside certain limits that you set.

(c) Liability for Failure to Stop Payment

If you order us to stop one of these payments within the time 

frames set forth in Section 27(a) above, and we do not do so, 

we will be liable for your losses or damages.

(d) Documentation of Transfers

Your EFTs will be documented as follows:

•  Terminal Transfers (i.e., ATMs): You can get a receipt at the 

time you make any transfer/withdrawal from your Checking 

or Money Market Account using an ATM or POS terminal. 

Save this receipt in order to reconcile your Account and/or to 

report any discrepancies or malfunctions.

•  Preauthorized Credits: If you have arranged to have direct 

deposits made to your Checking Account, Money Market 

Account or Savings Account at least once every 60 days from 

the same person or company, you can call us at 1-800-347-

7000 or visit DiscoverBank.com to verify whether or not 

the deposit has been made. You will not receive a separate 

receipt for these transactions.

•  ACH Transactions Initiated through the Account Center or 

By Phone: You will receive a written notice confirming the 

verbal authorization to process an ACH by phone. You will 

be presented with a confirmation screen, confirming the 

authorization to process an ACH through the Account Center.

•  Statements: All transfers will be included on your 

statements.

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