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TransPecos Banks
Business Deposit Account Agreement Disclosures
Last updated: July 31st, 2024
Outgo Business Deposit Account Program
The following TransPecos Banks Business Deposit Account Agreement Disclosures (the “Disclosures”) applies to the demand deposit account (the “Account”) issued by TransPecos Banks, SSB, a Texas state savings bank (the “Bank”), member of the Federal Deposit Insurance Corporation (“FDIC”) and chartered under the laws of the State of Texas. These Disclosures are incorporated by reference into the TransPecos Banks Business Deposit Account Agreement (the “Agreement”) and TransPecos Banks Business Visa Debit Cardholder Agreement (the“Cardholder Agreement”). Outgo Inc (“Program Partner”) is responsible for assisting the Bank with the administration of the Outgo Business Deposit Account Program (the “Program”). Capitalized terms not otherwise defined herein are ascribed the same meaning as set forth in the Agreement.
The following TransPecos Banks Business Deposit Account Agreement Disclosures (the “Disclosures”) applies to the demand deposit account (the “Account”) issued by TransPecos Banks, SSB, a Texas state savings bank (the “Bank”), member of the Federal Deposit Insurance Corporation (“FDIC”) and chartered under the laws of the State of Texas. These Disclosures are incorporated by reference into the TransPecos Banks Business Deposit Account Agreement (the “Agreement”) and TransPecos Banks Business Visa Debit Cardholder Agreement (the“Cardholder Agreement”). Outgo Inc (“Program Partner”) is responsible for assisting the Bank with the administration of the Outgo Business Deposit Account Program (the “Program”). Capitalized terms not otherwise defined herein are ascribed the same meaning as set forth in the Agreement.
- Account Overview
- 1.1 How to Contact UsFor most matters, you should email us at support@outgo.com. You may also contact us by calling 1-201-730-6980, Monday through Friday from 6am to 5pm PST. The Program Partner’s website is available at https://www.outgo.com/.For questions or concerns about any debit card-related transactions; if your debit card, debit card number, or PIN is lost, stolen, or misplaced; fraud alerts program or support or if you would like us to stop a recurring debit to your debit card, please contact us at 1-833-333-0417.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@outgo.com.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@outgo.com.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@outgo.com.
- 1.2 Account Types and TiersWe offer three (3) types of Account tiers: Tier 1, Tier 2, and Tier 3.Account tier designation is in our sole discretion, based on various factors, such as fleet size, expected transaction volume, and transaction history.The Account tier that you are placed in may affect your transaction limitations and/or interest as set forth in the Disclosures. Unless otherwise stated in the Disclosures, all terms contained in the Agreement apply equally to all Accounts tiers.
- 1.3 Paperless AccountsTo 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 Electronic Communications Agreement.
- 1.4 How To Open an AccountYou may open an Account by visiting the Program Partner’s website at https://www.outgo.com/ and following the instructions there.You may also open an Account by downloading the Outgo mobile application and following the instructions within the application.
- 1.5 Minimum Deposits and BalancesThere is no minimum deposit required to open an Account and no minimum balance you need to maintain in your Account.
- 1.6 Interest DisclosuresThis Account is not interest-bearing. No interest will be paid on this Account.
- 1.7 Confidentiality and Our Privacy PolicyInformation about your Account and your transactions is collected by pursuant to the Agreement. The Program Partner’s privacy policy is available at https://www.outgo.com/legal/privacy.
- 1.8 Deposits Into Your AccountYou may make deposits into your Account using any of these methods described below. We do not charge you any fees for making deposits.Deposit MethodLimitations for Your AccountDirect Deposits and other ACH transfers initiated by a third party*Tier 1, 2 and 3:
No limitsInternal transfers between eligible Accounts managed by the Program
(see “Transfers To or From Accounts You Have With Us” section of the Agreement)Tier 1, 2 and 3:
No limitsACH transfers to your Account from a connected U.S. bank account with another institution
see the “Transfers To or From Connected U.S. Bank Accounts” section of the Agreement)**Tier 1:
$15,000 /day
$100,000 /month
Tier 2:
$30,000 /day
$150,000 /month
Tier 3:
$45,000 /day
$300,000 /monthDomestic wireTier 1, 2 and 3:
No limitsCash deposit at in-network ATM$2,000 /day
You can identify an in-network ATM by looking for the Allpoint logo on or near the ATM. You cannot make cash deposits at out-of-network ATMs.Checks (via the Check Deposit Services*)$1,000 /daily
$20,000 /monthly* The recipient’s name on any direct deposit, ACH, or deposited check must match the name on the Account or the deposit may be returned to the originator.** You may transfer funds between your Account and another bank account. The connected bank account must be located in the United States. - 1.9 Our Funds Availability PolicyIt 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:If you make or receive a deposit via…Internal transfers between eligible Accounts managed by the Program (see “Transfers To or From Accounts You Have With Us” section of the Agreement)Direct Deposits and other ACH transfers initiated by a third partyDomestic wireCash deposit at in-network ATMChecks (via the Check Deposit Services)
- 1.10 Withdrawals From Your AccountYou, 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:Withdrawal MethodLimitations for Your AccountInternal transfers between eligible Accounts managed by the Program (see the “Transfers To or From Accounts You Have With Us” section of the Agreement)Tier 1, 2 and 3:
No limitsACH transfers from your Account to another bank account via ACH Origination Service
And
ACH transfers from your Account from a connected U.S. bank account with another institution (see the “Transfers To or From Connected U.S. Bank Accounts” section of the Agreement)Tier 1:
$15,000 /day
$100,000 /month
Tier 2:
$50,000 /day
$350,000 /month
Tier 3:
$75,000 /day
$500,000 /monthACH transfers to a merchant or other third party you authorize to withdraw from your Account using your routing number and account numberTier 1, 2 and 3:
No limitsATM withdrawalsTier 1, 2 and 3:
$1,000 /dayDomestic wiresTier 1, 2, and 3:
$100 minimum per wire transfer
$20,000,000 /day
$20,000,000 /monthPoint-of-sale (POS) transactions, online purchases, and other transactions at merchants using your debit cardTier 1, 2 and 3:
$5,000 /day - 1.11 Overdraft ServicesWe 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.
- 1.12 Withdrawals From Your AccountFee DescriptionFee Amount and FrequencyOutbound domestic wire origination fee$20 per outbound domestic wireInternational transaction fee*One percent (1%) of the transactionAstra transaction fee**1% of transaction, with a maximum cap of $20Out-of-network ATM transaction fee***$2.50*You will be charged this fee for any ATM or POS transactions conducted outside the United States or online transactions conducted with a merchant outside the United States.**This fee is applicable for all Astra transactions initiated from your Account. This fee would include all push-to-card transactions where you originate an Astra transaction to push funds from your Account to an external debit card. The proposed fee will be a 1% fee with a maximum cap of $20, meaning the highest possible fee you can be charged for this type of transaction will not exceed $20.***You may be charged a fee, including for balance inquiries, by the operator of an out-of-network ATM. You can avoid fees by using an in-network ATM. You can identify an in-network ATM by looking for the Allpoint logo on or near the ATM.
- 1.13 Types of EFTs Supported by Your AccountYour Account supports the following types of EFTs:
- Direct deposits
- Domestic wires
- Transfers to or from your Account and a connected bank account.
- Transfers to or from your Account by a third party, such as payments you make to a vendor or employee, or payments you receive from a customer or client.
- Transfers to or from your Account to a merchant or other third party by providing the third party with your debit card or debit card information.
- Purchases or other transactions using your debit card.
- ATM deposits or withdrawals using your debit card.
- 1.14 ACH Origination Service ApplicabilityThe ACH Origination Services is enabled for your Account; therefore, the ACH Origination Service section of the Agreement applies to your Account.Specifically, your Account enables ACH transfers from your Account to another bank account via ACH Origination Service.
- 1.15 Check Deposits, Mobile Deposit Services, and Check Writing ApplicabilityThe Check Deposit Services are enabled for your Account; therefore, the Check Deposits, Mobile Deposit Services, and Check Writing section of the Agreement applies to your Account. You can deposit checks via iOS and/or Android. Your Account does not enable check writing, so Sections 6.3 through 6.4 of the Agreement are not applicable to your Account.
- 1.16 Wire Transfers ApplicabilityWire transfers are enabled for your Account; therefore, the Wire Transfers section of the Agreement applies to your Account. Specifically, your Account enables both inbound and outbound wires.
- 1.17 Debit Card ApplicabilityDebit cards are enabled for your Account; therefore, the Cardholder Agreement applies to your Account.
- 1.18 Authorized Users ApplicabilityYou are permitted to designate Authorized Users for your Account.
