JOINT ACCOUNT HOLDER APPLICATION AUTHORIZATION

By using our Online Banking Service to initiate a request to add a joint account holder to your East West Bank checking or savings account (“account”) you authorize East West Bank ("Bank", "us") to initiate a Joint Account Holder Application (“Application”) on your behalf and certify that you understand and agree to the following terms and conditions:

The Bank’s Online Banking Joint Account Holder Application service is made available on a limited basis for certain East West Bank consumer checking and savings accounts that are held in your name, in a sole ownership capacity.

If the service is made available to you, eligibility for the service will be determined by the Bank when the Joint Account Holder Application “joint owner invite” is initiated, and again when the Joint Account Holder Applicant accepts the “joint owner invite” and submits their Joint Account Holder Application. The Bank reserves the right to not fulfill a Joint Account Holder Application request if, at any time, we determine the customer, account and/or Joint Account Holder Applicant does not meet our eligibility requirements. 

The Bank is under no obligation to offer the Joint Account Holder Application service, and eligibility for the service is determined solely at the Bank’s discretion.

If you are a U.S. person (U.S. taxpayer), the Joint Account Holder Applicant must meet the following minimum criteria:

• 18 years of age or older;
• A U.S. person (U.S. taxpayer); and
• A U.S. resident, with a residential address in a U.S. state that is within our digital account application service area.

If you are a non-U.S. person (claiming a foreign tax status), the Joint Account Holder Applicant must meet the following minimum criteria:

• 18 years of age or older;
• A non-U.S. person (claiming a foreign tax status);
• A non-U.S. resident, with a residential address in China, Hong Kong or Taiwan; and
• Have a qualifying government issued ID(s) from their country of residence.

All Joint Account Holder Applications are subject to review by the Bank; and submission of a Joint Account Holder Application does not guarantee approval.

Upon your submission of a successful Joint Account Holder Application request, the Bank will send a Joint Account Holder Application “joint owner invite” notification to the mobile phone number and email address you provided.

If the “joint owner invite” mobile phone number and email address are identified by us as being associated with a single, current or prior East West Bank consumer customer record, the “joint owner invite” recipient will be instructed to log in to our Online Banking Service to view the “joint owner invite” and to submit an application to become a joint account holder on your account. If the recipient does not log in with the mobile phone number and email address associated with the “joint owner invite”, they will not be able to access the invitation or submit the Joint Account Holder Application. 

If the “joint owner invite” mobile phone number and email address are not identified as being associated with a single, current or prior East West Bank consumer customer record, the “joint owner invite” recipient will receive, by email, a Joint Account Holder Application link that will give the recipient the ability to enter their personal information and submit an application to become a customer of the Bank and a joint account holder on your account. 

Access to the “joint owner invite” Online Banking Service entry point or email link will generally be valid for 15 days (a day being a 24-hour period starting from the date and time “joint owner invite” the request was initiated), and will expire thereafter. The actual expiration date and time may vary due to system availability or Bank processes, and you agree that the Bank will not be liable if the Joint Account Holder Application Online Banking Service entry point or email link is available for a longer or shorter period of time. If you change your mind, and do not want the recipient to apply, you should log in to the Online Banking Service and cancel your request. (See, Joint Account Holder Application Cancellation section, below.)

If the Joint Account Holder Application is submitted and approved, the recipient of the Joint Account Holder Application “joint owner invite” will be added to your account as a joint account holder.

A Joint Account Holder Application request may be cancelled by you up until the submission of the Joint Account Holder Application by the Joint Account Holder Applicant or the expiration of the “joint owner invite” by the Bank. To cancel a Joint Account Holder Application “joint owner invite” request you will need to login to the Online Banking Service and go to My Account, Add a joint owner, select the account, then click the “Cancel my joint owner invite” link.

Once the Joint Account Holder Application has been submitted by the receiver, the request may not be cancelled.

The Joint Account Holder applicant will not be allowed to designate a different mobile phone number or email address at the time of application submission; therefore, the Bank will consider a Joint Account Holder Application submitted with the mobile phone number and email address you provided to us when you initiated your Joint Account Holder Application “joint owner invite” request as authorized by you.

The Bank is under no obligation to verify that the individual submitting the Joint Account Holder Application is your intended recipient, therefore it is imperative that you carefully review and confirm that the mobile phone number and email address you enter for your Joint Account Holder Application “joint owner invite” request are accurate. Failure to do so could result in an unintended individual being added to your account as a joint account holder.

By adding a joint account holder, you authorize the Bank to convert your account ownership to "joint tenancy" (also referred to as a "joint account" or "multi-party account"), with each owner having an equal ownership interest in the account during his or her lifetime.

The account will be designated as a joint account with rights of survivorship, which means if one joint tenant dies, the ownership of the account will automatically pass to the surviving joint tenant(s).

For additional information on joint tenancy accounts, including state specific requirements, please refer to the Account Ownership section of the Bank’s Deposit Account Agreement.

By adding a joint account holder, you understand and agree that each account holder, including the joint account holder you have requested to add, may individually use the account in accordance with the terms and conditions governing the account, including but not limited to a) adding, withdrawing, transferring or otherwise using the entire amount of funds in the account, including funds deposited prior to the joint tenant being added, b) making decisions regarding the account, and c) obtaining information associated with the account.

Each joint account holder will be jointly and severally liable for all obligations incurred by the other account holder, including overdrafts and other claims, legal processes and judgements, or other valid debits incurred by any of the joint tenants on the account.

For additional information on the rights and responsibilities of joint account owners, please refer to the Bank’s Deposit Account Agreement.

By adding a joint account holder, you understand that the tax status of the joint account holder may impact the tax reporting status on your account. For example, if the joint account holder does not provide sufficient documentation, as requested by the by Bank, to confirm their claimed tax status, your account could become subject to tax withholding.

You agree that the Bank’s records will be conclusive evidence of each of the following: a) your request to initiate a Joint Account Holder Application; b) the instructions you provided (including, but not limited to the request date, and the mobile number and email address authorized by you to initiate the Joint Account Holder Application); and c) your authorization to the Bank to initiate a Joint Account Holder Application “joint owner invite” on your behalf and add (subject to Bank approval and the terms of this agreement) a joint owner to your East West Bank account.

You agree to indemnify, defend and hold us harmless from all claims, actions, losses, liabilities and expenses (including, without limitation, attorney fees) related to or arising out of a) your actions and omissions in connection with this Joint Account Holder Authorization request, the “joint owner invite” and the account; b) your designated joint account holder's actions and omissions in connection with the Joint Account Holder Application, the “joint owner invite” and the account; c) any assertions by the joint account holder or any other party that you were not authorized to initiate the Joint Account Holder Application “joint owner invite” request; d) any assertions that we are responsible or legally liable for actions or inactions by you or the joint account holder, including without limitation that actions or inactions were not authorized or violated the rights of the account owner(s) or any other third parties; and e) our actions and omissions, provided that they are taken/omitted in accordance with the terms of this Joint Account Holder Authorization, the Bank’s Deposit Agreement, other agreements governing your account, and/or your “joint owner invite” instructions.