THESE TRANSACTION TERMS AND CONDITIONS (THE “TRANSACTION TERMS”) CONSTITUTE A LEGALLY BINDING AGREEMENT BETWEEN YOU AND RMO BANK. THEY CONTAIN PROVISIONS THAT LIMIT OUR LIABILITY, ALLOCATE RISK AND RESPONSIBILITY TO YOU, REQUIRE THAT YOU EXAMINE YOUR STATEMENTS AND REPORT PROBLEMS WITHIN STATED TIME PERIODS OR LOSE CERTAIN RIGHTS, AND INCORPORATE BY REFERENCE DISPUTE-RESOLUTION PROVISIONS THAT MAY INCLUDE BINDING ARBITRATION, A CLASS-ACTION WAIVER, AND A JURY-TRIAL WAIVER. PLEASE READ THEM CAREFULLY AND RETAIN A COPY.
These Transaction Terms govern each transaction, instruction, order, and payment that you initiate, authorize, or complete with RMO Corporation, together with its subsidiaries (including RMO Bank, a federally insured, Member-FDIC depository institution), affiliates, successors, assigns, agents, and service providers, headquartered in the State of California (collectively, “RMO,” “we,” “us,” or “our”). The terms “you” and “your” mean each accountholder, authorized signer, agent, fiduciary, or other person who initiates or benefits from a Transaction (as defined below) or who is otherwise bound by these Transaction Terms. In consideration of the mutual covenants herein and of RMO providing accounts, products, and services to you, the parties agree as follows.
As used in these Transaction Terms, capitalized terms have the meanings set forth below; other capitalized terms are defined where they first appear.
By initiating, authorizing, transmitting, or completing any Transaction, or by continuing to use any RMO account, product, or service, you acknowledge that you have received, read, understood, and agreed to be bound by these Transaction Terms. These Transaction Terms supplement, and are incorporated into, your Account Agreement, and apply in addition to any product-, channel-, or network-specific terms. In the event of a conflict or inconsistency, the following order of precedence governs, to the extent permitted by Applicable Law: (a) mandatory, non-waivable Applicable Law; (b) the specific terms of a product-, channel-, or network-specific agreement or disclosure to the extent it expressly addresses the matter; (c) your deposit account agreement; (d) these Transaction Terms; and (e) the General Terms and Conditions. No course of dealing, course of performance, usage of trade, or oral statement modifies these Transaction Terms.
You represent and warrant that each Transaction you initiate is authorized, lawful, and supported by good and sufficient funds or available credit, and that you have full right, power, and authority to conduct it. You authorize RMO to act upon any instruction that we reasonably believe to be genuine and to have been given by you or your authorized agent, whether transmitted in person, in writing, electronically, or by telephone, and you agree that we may rely on the account number, routing number, or other identifying number you supply even if it identifies a person, account, or institution different from the one you name. Each accountholder and authorized signer acts as agent for every other accountholder, and any one of them may conduct Transactions and give instructions binding on all, except as Applicable Law or the Account Agreement otherwise requires. We may, but are not obligated to, require additional verification, documentation, dual authorization, signatures, or a waiting period before acting on any instruction.
Every Transaction is subject to verification, acceptance, and final settlement, and is not final when it is initiated, displayed, acknowledged, or shown as completed on a receipt or screen. A receipt or confirmation evidences that a Transaction was requested or provisionally recorded; it is not an admission that funds have been finally collected or that the Transaction is free of error. We may post, batch, and settle Transactions in any order we determine in our discretion and consistent with Applicable Law, and we may establish, change, and apply cutoff times, processing windows, and posting orders without prior notice except as required by Applicable Law. We may decline, suspend, delay, return, reverse, correct, or place a hold on any Transaction, in whole or in part, including where: (a) there are insufficient available funds; (b) the Transaction appears erroneous, duplicative, incomplete, irregular, fraudulent, or unauthorized; (c) we are uncertain as to any person’s authority or the validity of an instruction; (d) the Transaction would or might violate Applicable Law or RMO policy; (e) legal process, a dispute, or a claim affects the account; or (f) we have any other reasonable basis to do so. We may reverse or adjust any credit, including any provisional or anticipated credit, that is made in error or that does not finally settle.
All credits for Items deposited or cashed are provisional and are subject to RMO’s receipt of final payment in actually and finally collected funds. If an Item is returned or charged back for any reason, is not paid, is paid and later returned, or if a payor, drawee, intermediary, or originating party demands repayment under Applicable Law or network rule, we may charge the amount of the Item, together with any associated fees, interest, and costs, against your account or any other account you own with us, even if doing so creates or increases an overdraft, and regardless of when the return, chargeback, or demand occurs. You waive notice of dishonor and protest. You remain liable to RMO for the amount of any Item or Transaction you initiate or deposit that is unpaid, reversed, or charged back, and for any resulting deficit, plus our costs of collection, including reasonable attorneys’ fees, to the extent permitted by Applicable Law.
The availability of funds you deposit is governed by the federal Expedited Funds Availability Act and Regulation CC (12 C.F.R. Part 229) and by RMO’s Funds Availability Policy, which is part of your Account Agreement. We may delay the availability of deposited funds, and may place case-by-case and exception holds to the maximum extent permitted by Applicable Law, including for large deposits, new accounts, accounts with repeated overdrafts, redeposited and returned Items, deposits we have reasonable cause to doubt will be collected, and emergency conditions. Substitute checks and your rights with respect to them are governed by the Check Clearing for the 21st Century Act (Check 21) and Subpart D of Regulation CC. Funds availability does not affect your obligation to repay Items that are subsequently returned or charged back.
Electronic fund transfers to and from your consumer accounts — including automated teller machine and debit-card transactions, point-of-sale transactions, automated clearing house credits and debits, telephone, online, and mobile transfers, and preauthorized (recurring) transfers — are governed by the federal Electronic Fund Transfer Act (15 U.S.C. §1693 et seq.) and Regulation E (12 C.F.R. Part 1005), and by RMO’s Electronic Fund Transfer disclosures, which are part of your Account Agreement and which control with respect to consumer electronic fund transfers if any provision of this Section conflicts with them.
You are entitled to receive documentation of electronic fund transfers as required by Regulation E, including terminal receipts and periodic statements. You may stop payment of a preauthorized electronic fund transfer by notifying us in the manner and within the time periods described in your Electronic Fund Transfer disclosures.
Your liability for unauthorized electronic fund transfers depends on how promptly you notify us after learning of the loss, theft, or unauthorized use of your access device or of an unauthorized transfer appearing on your statement, as set forth in Regulation E and your Electronic Fund Transfer disclosures. Prompt notice limits your liability; delay may increase it, up to the maximum permitted by law. Notify RMO at once if you believe your access device or credentials have been lost or stolen or that an unauthorized transfer has occurred.
Automated clearing house (ACH) entries are governed by the Operating Rules and Guidelines of Nacha and the applicable ACH operator, by Applicable Law, and, where applicable, by Article 4A of the Uniform Commercial Code as adopted in the applicable jurisdiction (in California, Division 11 of the California Commercial Code) and Subpart B of Regulation J. You agree to be bound by the Nacha Operating Rules as in effect from time to time. Credit given for any ACH entry is provisional until RMO receives final settlement; if final settlement is not received, RMO is entitled to a refund of the amount credited, and the originator is not deemed to have paid you. ACH entries may be transmitted through one or more clearinghouses and are subject to the rules of those systems.
Wire transfers and other funds transfers (other than consumer transfers governed exclusively by Regulation E) are governed by Article 4A of the Uniform Commercial Code as adopted in the applicable jurisdiction, by Subpart B of Regulation J for Fedwire transfers, and by the rules of the applicable funds-transfer system. We and other institutions may rely on the identifying numbers you provide (such as an account number or routing number) as the proper identification of the beneficiary or beneficiary’s bank, even if those numbers identify a person or institution different from the named party, and you bear the risk of any error in the information you supply. We may employ commercially reasonable security procedures to verify the authenticity of payment orders; a payment order verified in compliance with an agreed-upon commercially reasonable security procedure is effective and binding on you whether or not authorized. We are not obligated to execute any payment order and may impose cutoff times, limits, and conditions.
Checks, drafts, money orders, cashier’s and official checks, and other Items are governed by Articles 3 and 4 of the Uniform Commercial Code as adopted in the applicable jurisdiction (in California, Divisions 3 and 4 of the California Commercial Code), by Regulation CC, and by Check 21. You agree to endorse Items in the designated area and in conformity with our and Regulation CC’s standards, and you authorize RMO to supply any missing endorsement and to treat any Item you deposit as endorsed by you. We may accept, pay, collect, return, or charge back Items, and may pay Items in any order. We may pay a postdated Item before its date unless you give us timely, sufficient notice in the manner we require; we are not obligated to pay a stale-dated Item (one presented more than six months after its date) but may do so in good faith. Stop-payment orders must be given in the manner, with the information, and within the time periods we require and as Applicable Law permits, and remain effective for the period prescribed by Applicable Law unless renewed. Where you capture and transmit images of Items for deposit (remote or mobile deposit), you make the warranties applicable to such deposits, agree to retain and safeguard the original Items, and agree not to deposit or negotiate the same Item more than once.
Your use of any card, personal identification number (PIN), token, credential, or other access device is subject to these Transaction Terms, your Account Agreement, the applicable cardholder or access-device agreement, and the rules of any payment network. Cards remain RMO property and may be cancelled, suspended, limited, reissued, or required to be returned at any time, with or without cause and, where required, with notice. You agree to safeguard your card, PIN, and credentials, to keep them confidential, and to notify RMO immediately of any loss, theft, compromise, or unauthorized use. RMO is not Visa, Mastercard, or any other external card scheme; RMO operates its own card networks, and the rights and obligations applicable to a Transaction are those of the RMO network and Applicable Law.
Cash and currency Transactions, and the issuance, sale, or negotiation of monetary instruments (such as money orders and cashier’s checks), are subject to verification, counting, recording, and reporting requirements and to RMO’s policies and limits. Our count and records of currency and Items are presumed correct absent manifest error timely demonstrated. Certain cash and monetary-instrument Transactions are subject to the recordkeeping and reporting requirements described in Section 13.
As a federally insured depository institution, RMO is required to obtain, verify, and record information identifying each person who opens an account or conducts certain Transactions, and to maintain anti-money-laundering and sanctions-compliance programs, under the Bank Secrecy Act (31 U.S.C. §5311 et seq.), the USA PATRIOT Act (including the Customer Identification Program requirements of 31 C.F.R. §1020.220), the implementing regulations of the Financial Crimes Enforcement Network (FinCEN), and the economic-sanctions laws and regulations administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Accordingly, we may at any time: (a) require you to provide government-issued identification, taxpayer identification, beneficial-ownership information, source-of-funds information, and other documentation; (b) report Transactions as required, including currency transactions aggregating more than $10,000 in a Business Day, and maintain monetary-instrument logs; (c) investigate, delay, decline, restrict, freeze, block, or reverse any Transaction, and limit, suspend, or close any account; and (d) take any other action we deem necessary or advisable to comply with Applicable Law. We may be legally prohibited from notifying you of, or disclosing the existence or content of, certain reports or actions, including suspicious-activity reports, and you agree that we have no liability to you for any action taken, or disclosure withheld, in good-faith compliance with Applicable Law.
To the fullest extent permitted by Applicable Law, you grant RMO a security interest in, and the right to set off against, the funds in any account you own (individually or jointly) with RMO to satisfy any debt or obligation you owe to RMO, whether now existing or arising in the future, direct or contingent, matured or unmatured, including overdrafts, fees, returned or charged-back Items, and amounts owed under any agreement. We may exercise our right of setoff without prior notice except where notice is required by Applicable Law, and our failure or delay in exercising it is not a waiver. This Section does not apply to the extent setoff is prohibited by Applicable Law (for example, with respect to certain protected funds).
We may place a hold on, freeze, or restrict an account or any funds, and may refuse to pay out funds, when we receive or are subject to legal process or an adverse claim — including a garnishment, levy, attachment, execution, injunction, restraining order, subpoena, summons, search or seizure warrant, forfeiture, or other order, demand, or process — or when we believe in good faith that a dispute exists as to the ownership of or authority over funds, or that doing so is necessary to avoid loss or to comply with Applicable Law. We may comply with legal process that we believe to be valid, whether served in person, by mail, or electronically, and whether or not it is issued or enforceable in the jurisdiction where we receive it, and we are not required to contest it on your behalf. You are responsible for any resulting loss, and we may charge our applicable fees and expenses to your account. We are not liable to you for any action taken in connection with legal process or an adverse claim taken in good faith.
You must promptly and carefully examine each statement, receipt, and notice and report any error, discrepancy, or unauthorized or improper Transaction to RMO without delay.
For consumer electronic fund transfers governed by Regulation E, you must notify us of an error no later than sixty (60) days after we send or make available the periodic statement on which the error or problem first appeared, in the manner described in your Electronic Fund Transfer disclosures. Upon timely notice, we will investigate and determine whether an error occurred within the timeframes Regulation E requires — generally within ten (10) Business Days, which we may extend to forty-five (45) calendar days (or twenty (20) Business Days and ninety (90) calendar days, respectively, for certain new-account, point-of-sale, and foreign-initiated transfers) — provisionally crediting your account where required during the investigation.
For Items and other Transactions not governed by Regulation E, you must examine your statement and Items and report any unauthorized signature, alteration, or other unauthorized or improper charge within the time periods required by the Uniform Commercial Code and your Account Agreement. If you fail to do so within the applicable period, you may be precluded from asserting the unauthorized signature, alteration, or charge against RMO, and from recovering from RMO, to the extent provided by Applicable Law, and you may be liable for further similar Items.
To report a suspected error, unauthorized Transaction, or dispute, contact RMO Member Services using the information in Section 34 as soon as possible. Reporting promptly is a condition of preserving your rights and limiting your liability.
Transactions are subject to the fees, charges, limits, and conditions set forth in your Account Agreement and the applicable fee schedule, which we may establish and change as permitted by Applicable Law. We may impose limits on the amount, number, frequency, timing, channel, or destination of Transactions. We are not obligated to pay any Item or complete any Transaction that would exceed the available balance in your account or any applicable limit, and we may, in our discretion and without obligation, pay such an Item or Transaction and create an overdraft, for which you are liable, together with any overdraft or non-sufficient-funds fees disclosed in your Account Agreement. The payment or non-payment of one overdraft does not obligate us to pay another. You agree to repay any overdraft immediately, with applicable fees.
The annual percentage yield, interest rate, compounding and crediting, minimum-balance requirements, fees, and other terms applicable to your deposit accounts are disclosed under the federal Truth in Savings Act (12 U.S.C. §4301 et seq.) and Regulation DD (12 C.F.R. Part 1030) in your account disclosures, which are part of your Account Agreement and which govern those matters.
You are responsible for providing a correct taxpayer identification number and any required certifications, and for the tax consequences of your Transactions. RMO may report interest, dividends, and other reportable amounts to the Internal Revenue Service and applicable state authorities, and may be required to impose backup withholding or other withholding on certain payments where required by the Internal Revenue Code and applicable regulations, including where you fail to furnish a correct taxpayer identification number or required certification. You agree to reimburse RMO for any liability, penalty, or expense we incur as a result of incorrect or missing tax information you provide.
You consent to conduct Transactions and to receive records, receipts, statements, notices, and disclosures by electronic means, and to the use of electronic signatures and records, in accordance with the federal Electronic Signatures in Global and National Commerce Act (E-SIGN, 15 U.S.C. §7001 et seq.) and applicable state law (in California, the Uniform Electronic Transactions Act, California Civil Code §1633.1 et seq.), as further described in your Account Agreement and electronic-communications consent. Electronic records and signatures have the same legal effect as paper records and manual signatures, and our records (including images and electronic logs) are admissible and constitute conclusive evidence of the matters they record, absent manifest error.
RMO’s collection, use, sharing, and protection of information about you are described in our Privacy Notice, provided under the Gramm-Leach-Bliley Act (15 U.S.C. §6801 et seq.) and Regulation P (12 C.F.R. Part 1016) and applicable state privacy laws, including the California Consumer Privacy Act of 2018 as amended by the California Privacy Rights Act of 2020 (to the extent applicable to financial information not otherwise exempt).
You consent to RMO recording, monitoring, and retaining telephone, electronic, in-person, and other communications with you for security, training, quality-assurance, recordkeeping, dispute-resolution, and compliance purposes, to the extent permitted by Applicable Law, and you agree that such recordings and records may be used as evidence.
If your account becomes dormant or inactive and you do not respond to our notices, your funds may be presumed abandoned and reported and remitted (escheated) to the State of California under the California Unclaimed Property Law (California Code of Civil Procedure §1500 et seq.), or to another state under that state’s unclaimed-property law, after the applicable dormancy period and as required by Applicable Law. We may impose dormancy or other fees and cease paying interest on dormant accounts to the extent permitted by Applicable Law. After funds are escheated, you must apply to the applicable state to recover them.
You agree to notify RMO promptly of the death or adjudicated incapacity of any accountholder. Until we receive such notice and have a reasonable opportunity to act, and until we receive any documentation we require, we may continue to honor Transactions and instructions as if each accountholder were alive and competent. We may freeze, hold, or restrict funds, require court or other documentation, and act as necessary to comply with Applicable Law and to protect against loss in connection with a death or incapacity.
RMO is headquartered in the State of California. Except where federal law or the governing-law provision of your Account Agreement provides otherwise, these Transaction Terms and your Transactions are governed by the laws of the State of California, including the California Financial Code, the California Commercial Code, and the California Unclaimed Property Law, in each case without regard to conflict-of-laws principles that would apply the law of another jurisdiction.
If you reside in, or your account is governed by the law of, a state other than California, these Transaction Terms are deemed modified to the minimum extent necessary to comply with the mandatory, non-waivable consumer-protection laws of that state, and that state’s law applies only to the extent it is required to do so. State laws vary — including in such matters as dormancy and unclaimed-property periods, exemptions from garnishment, levy, or setoff, stop-payment and statute-of-limitation periods, postdated-Item notice, notarization, and certain disclosures — and nothing in these Transaction Terms waives any right or protection that the law of your state of residence makes non-waivable.
As a federally insured depository institution, RMO is subject to federal banking laws and regulations that may preempt inconsistent state laws to the extent permitted under applicable federal preemption standards, including those of the National Bank Act, the Home Owners’ Loan Act, the Federal Deposit Insurance Act, and the Dodd-Frank Wall Street Reform and Consumer Protection Act. Where federal law preempts a state-law requirement, the federal standard governs to the extent of the preemption.
EXCEPT AS EXPRESSLY PROVIDED IN YOUR ACCOUNT AGREEMENT OR REQUIRED BY APPLICABLE LAW, ALL RMO ACCOUNTS, PRODUCTS, SERVICES, CHANNELS, EQUIPMENT, AND SYSTEMS USED TO CONDUCT TRANSACTIONS ARE PROVIDED “AS IS” AND “AS AVAILABLE,” AND RMO DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT, AND ANY WARRANTY ARISING FROM COURSE OF DEALING OR USAGE OF TRADE. RMO DOES NOT WARRANT THAT ANY SERVICE OR CHANNEL WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE.
RMO will exercise ordinary care and act in good faith in handling your Transactions; the exercise of ordinary care does not require us to detect a forgery, alteration, or irregularity that a reasonable person would not detect, and our procedures are not a failure to exercise ordinary care merely because another procedure might have detected a problem. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: (a) RMO IS NOT LIABLE FOR ANY LOSS, DELAY, OR FAILURE CAUSED BY CIRCUMSTANCES BEYOND OUR REASONABLE CONTROL, AS DESCRIBED IN SECTION 29; (b) RMO IS NOT LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR LOST PROFITS, LOST DATA, OR LOSS OF GOODWILL, EVEN IF ADVISED OF THE POSSIBILITY THEREOF; (c) RMO IS NOT LIABLE FOR ANY LOSS YOU COULD HAVE AVOIDED BY EXAMINING YOUR STATEMENTS AND ITEMS AND NOTIFYING US AS REQUIRED BY SECTION 16; AND (d) RMO’S AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO ANY TRANSACTION IS LIMITED TO THE AMOUNT OF THE TRANSACTION OR TO PROVEN ACTUAL DIRECT DAMAGES, WHICHEVER IS LESS. NOTHING IN THIS SECTION LIMITS ANY LIABILITY THAT MAY NOT BE LIMITED OR EXCLUDED UNDER APPLICABLE LAW, INCLUDING ANY LIABILITY UNDER REGULATION E THAT MAY NOT BE WAIVED.
To the fullest extent permitted by Applicable Law, you agree to indemnify, defend, and hold harmless RMO and its officers, directors, employees, agents, and service providers from and against any and all claims, demands, losses, liabilities, damages, fines, penalties, costs, and expenses (including reasonable attorneys’ fees) arising out of or relating to: (a) any Transaction you initiate, authorize, or deposit; (b) your breach of these Transaction Terms or your Account Agreement; (c) any instruction we act upon in good faith; (d) any Item that is returned, charged back, or unpaid; (e) your violation of Applicable Law or the rights of any third party; or (f) any inaccurate or incomplete information you provide. This Section survives the closing of your account and the termination of these Transaction Terms.
RMO is not liable for any failure or delay in performing under these Transaction Terms, and is excused from performance, to the extent caused by circumstances beyond our reasonable control, including acts of God, natural disasters, fire, flood, epidemic or pandemic, war, terrorism, civil unrest, governmental or regulatory action, legal process, labor disputes, failures or interruptions of power, telecommunications, internet, payment networks, clearinghouses, or third-party systems, cyber-incidents, and emergency conditions.
We may amend, supplement, or replace these Transaction Terms at any time. We will provide notice of changes when and as required by Applicable Law and your Account Agreement, and we may post the current version at this address. Except where Applicable Law provides otherwise, your continued initiation or completion of Transactions, or continued use of any RMO account, product, or service, after the effective date of a change constitutes your acceptance of the amended Transaction Terms.
You may not assign or transfer any of your rights or obligations under these Transaction Terms without RMO’s prior written consent, and any attempted assignment without such consent is void. RMO may assign or transfer its rights and obligations, in whole or in part, without your consent, including in connection with a merger, acquisition, reorganization, or sale of assets. These Transaction Terms bind and benefit the parties and their respective permitted successors and assigns.
Severability. If any provision of these Transaction Terms is held invalid, illegal, or unenforceable, that provision is severed or limited to the minimum extent necessary, and the remaining provisions remain in full force and effect. No Waiver. No delay or failure by RMO to exercise any right or remedy is a waiver, and no waiver is effective unless in a writing signed by an authorized officer of RMO; a waiver on one occasion is not a waiver on any other. Remedies Cumulative. RMO’s rights and remedies are cumulative and in addition to any other rights and remedies available at law or in equity. Headings. Headings are for convenience only and do not affect interpretation. Survival. Provisions that by their nature should survive — including Sections 5, 13, 14, 16, 27, 28, and 33 — survive the closing of your account and the termination of these Transaction Terms. Entire Agreement. These Transaction Terms, together with your Account Agreement, constitute the entire agreement between you and RMO regarding their subject matter and supersede all prior or contemporaneous understandings.
These Transaction Terms are governed by, and construed in accordance with, applicable federal law and, to the extent not preempted, the laws of the State of California, without regard to conflict-of-laws principles, and subject to Section 25. Subject to any dispute-resolution provision of your Account Agreement, the state and federal courts located in California have jurisdiction over any matter not subject to arbitration, and you consent to the personal jurisdiction and venue of those courts. Any dispute, claim, or controversy arising out of or relating to your Transactions or accounts is subject to the dispute-resolution provisions of your Account Agreement, which may require binding individual arbitration and may include a class-action waiver and a waiver of the right to a jury trial. Please review those provisions carefully, as they affect your legal rights.
Unless Applicable Law requires otherwise, we may give you notice by mail to the most recent postal address, or by electronic communication to the most recent email address or through a channel, in our records, and notice is effective when sent or made available. You must keep your contact information current. To give RMO notice, or to report a suspected error, unauthorized Transaction, or dispute, contact:
RMO Member Services · (888) 764-3448 · www.rmous.org/help
In addition to the foregoing, the following terms apply to payments and transactions made with the indicated RMO division. These terms supplement, and are subject to, the product, account, plan, or service agreement applicable to that division (the “Applicable Agreement”), which controls in the event of a conflict.
Payments on loans, lines of credit, and other financing are due on the dates and in the amounts stated in your Applicable Agreement and billing statements. Unless your Applicable Agreement or Applicable Law provides otherwise, payments are applied in the order we determine, which may be to accrued interest, then principal, then fees and other charges (and, for mortgage loans, to escrow for taxes and insurance). Late or missed payments may result in late charges, additional interest, default, acceleration, adverse credit reporting, and, for secured loans, repossession or foreclosure, as permitted by your Applicable Agreement and Applicable Law. You may generally prepay without penalty unless your Applicable Agreement states otherwise. Automatic payments continue until you cancel them in the manner we require. A payoff amount is valid only through the date stated and may change due to interest, fees, or returned payments.
Pawn transactions are regulated loans secured by pledged property and are governed by your pawn ticket and applicable state pawnbroker law. Finance, storage, handling, and other permitted charges accrue as stated on your pawn ticket. You may redeem your pledged property by paying the amount due on or before the maturity date, subject to any grace or extension period required or permitted by Applicable Law, and you may extend or renew where permitted by paying the charges then due. If you do not redeem, extend, or renew within the applicable period, the pledged property may be forfeited and sold as permitted by Applicable Law, and you may have no further right to it.
Insurance premiums are due as stated in your policy and billing notices. If a premium is not paid when due, coverage may lapse or be cancelled after any grace period required by your policy and Applicable Law, and a claim occurring during a lapse may not be covered. Reinstatement, if available, is subject to your policy and Applicable Law. Premium refunds on cancellation are calculated on a pro-rata or short-rate basis as your policy and Applicable Law provide. Insurance products are not deposits, are not FDIC-insured, and are not guaranteed by RMO Bank.
Fees for protection plans, service contracts, warranties, and roadside or benefit plans are due as stated in your plan documents and may be billed as a single payment or on a recurring basis. Recurring plans renew automatically until cancelled in the manner stated in your plan documents. Cancellation and refund rights (including any free-look period and any pro-rata or other refund) are as stated in your plan documents and Applicable Law. Non-payment may result in suspension or termination of coverage or benefits.
Securities and other investment transactions are subject to your investment account agreement, the rules of FINRA and the applicable exchanges and clearing organizations, and Applicable Law. Purchases must be paid for, and sales delivered, by the applicable settlement date; failure to do so may result in liquidation, cancellation, fees, interest, or restrictions (including good-faith and free-riding restrictions). Commissions, advisory fees, markups, and other charges apply as disclosed. Margin transactions involve additional risk and are subject to your margin agreement and maintenance requirements. Investments are not deposits, are not FDIC-insured, are not guaranteed by RMO Bank, and may lose value. RMO Investments is a Member of FINRA, SIPC.
Payment for goods, repairs, rentals, lodging, and related services is due at the time of purchase or as stated in your order, invoice, estimate, or reservation. We may obtain authorizations and place holds (including deposits and incidental or security holds for rentals and lodging) on your payment method, and may charge additional amounts such as taxes, fees, damage, fuel, late-return, or no-show charges as disclosed. Returns, refunds, exchanges, cancellations, and any restocking or cancellation fees are governed by the applicable return, refund, repair, rental, or cancellation policy disclosed at the time of the transaction.
Membership dues and fees are billed as stated in your membership terms and may renew automatically until cancelled in the manner stated there. Non-payment of dues may result in suspension or termination of membership and of access to member products, services, and benefits.
Person-to-person and other payment-service transfers are subject to your payment-service agreement, applicable network rules, and Applicable Law. Transfers may be immediate and, once sent, may be irreversible; you are responsible for sending funds to the correct recipient. We may impose limits, require verification, and decline, hold, or reverse transfers as described in your payment-service agreement and these Transaction Terms. Merchant-services payments and settlements are governed by the applicable merchant agreement and network rules.
Payments on past-due, defaulted, or charged-off accounts in collection are applied as your Applicable Agreement and Applicable Law provide, and any payment arrangement is subject to its stated terms. Communications in connection with the collection of a debt are conducted in accordance with the Fair Debt Collection Practices Act and applicable state law. A payment, partial payment, or payment arrangement does not waive any right or remedy unless we agree in writing.
Fees for tax-preparation, property-management, health, human-services, and other professional or specialized services are due as stated in the applicable service agreement, engagement letter, or invoice. Specific payment, deposit, escrow, trust-account, refund, and cancellation terms are governed by that agreement and Applicable Law.
These Transaction Terms summarize, supplement, and are part of your Account Agreement and are subject to Applicable Law. In the event of any conflict, your specific Account Agreement, the applicable disclosures, and mandatory Applicable Law control. RMO Bank is a Member of the FDIC; RMO Mortgage is an Equal Housing Lender; RMO Investments is a Member of FINRA, SIPC. © 2026 RMO Corporation. All Rights Reserved.
