Deposit Account Agreement Effective June 20, 2021 Questions about your Account? 1-800-347-7000 DiscoverBank.com ©2021 Discover Bank, Member FDIC BK.DBATAGT.L.0621 Thank you for choosing Discover Bank. This Deposit Account Agreement Deposit Account Agreement includes the terms and conditions you need to know about your Discover Effective June 20, 2021 Bank® deposit accounts. Table of Contents Please read this Agreement carefully. This Agreement covers, among other 1 DEFINITIONS/INTRODUCTION 1 things: 2 CUSTOMER INFORMATION AND ELIGIBILITY 2 Our obligations to you 3 AGREEMENT ACCEPTANCE/W-9 CERTIFICATION 3 Your obligations as an Accountholder 4 FDIC INSURANCE 5 How we may amend the Agreement and send you notices and disclosures 5 INTEREST 5 Your agreement to waive a jury trial 6 ACCOUNT OWNERSHIP 8 Your agreement to arbitrate disputes by binding arbitration (and your 7 DISCOVER STUDENT DEPOSITS PROGRAM 11 right to reject arbitration) 8 INCOME TAX REPORTING AND WITHHOLDING 12 Your agreement to waive your class-action rights 9 CHECKS 13 Limitations on our liability to you 10 DEPOSITS 14 Our mutual agreement that Delaware law will control this Agreement 11 WITHDRAWALS 17 12 CHECKING REWARDS AND INCENTIVES 20 You can always call our knowledgeable customer service team anytime at 13 DEBIT CARDS 22 1-800-347-7000. There’s always someone right here in the U.S. to answer 14 FUND TRANSFERS 24 your questions, explain things, and take the time to help you find ways to 15 FUNDS AVAILABILITY (HOLDS) 26 make the most of your money. 16 STOP PAYMENT ON CHECKS 30 17 ACCOUNT TRANSFER OR ASSIGNMENT 31 18 STATEMENTS AND ERROR RESOLUTION 31 19 CD RENEWAL OPTIONS 32 20 RIGHT OF SET-OFF 33 21 OVERDRAFT PROTECTION SERVICE 33 22 POWER OF ATTORNEY 34 23 PRIVACY AND DISCLOSURE OF ACCOUNT INFORMATION 34 24 ACCOUNT CLOSURE 34 25 TRANSACTION CORRECTIONS, REVERSALS, AND DELAYS 36 26 AMENDMENTS, ACCOUNT CHANGES AND NOTICES 36 27 ELECTRONIC FUND TRANSFER (EFT) 36 28 ERROR RESOLUTION – ELECTRONIC FUND TRANSFERS 38 29 WAIVERS 39 30 LEGAL PROCEEDINGS 39 31 ABANDONED ACCOUNTS 39 32 SEVERABILITY 40 33 TELEPHONE COMMUNICATIONS 40 34 LIMITATION OF LIABILITY 40 35 ARBITRATION OF DISPUTES 40 36 EARLY WITHDRAWAL PENALTIES; MINIMUM ACCOUNT REQUIREMENTS AND SERVICE CHARGES 43 Deposit Account Agreement established for business purposes are governed by a separate agreement. You accept this Agreement as described in Section 3. This Agreement Effective June 20, 2021 supersedes any prior agreements or communications that you may have (1) DEFINITIONS/INTRODUCTION had with us. The headings contained herein are provided for convenience The following is a list of terms used throughout this Deposit Account only and are not substantive terms. Agreement (“Agreement”): Your Account is subject to applicable clearinghouse rules. Your Account “Account” means your Discover Certificate of Deposit Account is being opened in and is located in Delaware. Except where noted, your (“Non-IRA CD Account”), Discover Individual Retirement Account and this Agreement are governed by Delaware and Federal Arrangement Certificate of Deposit Account (“IRA CD),” Discover law. If Delaware and Federal law are inconsistent, or if Delaware law is Cashback Debit Account (also referred to as a “Checking preempted by Federal law, then Federal law governs. You may reject the Account”), Discover Money Market Account (“Money Market Arbitration of Disputes agreement, as set forth in Section 35(j), including Account”), and/or Discover Savings Account (“Savings Account,” the waiver of your right to a jury trial. You must follow the procedures set which includes a Discover IRA Savings and a Discover Online forth in Section 35 if you want to reject the arbitration agreement. Savings Account, as applicable); (2) CUSTOMER INFORMATION AND ELIGIBILITY “Branch” means the Discover Bank retail office in Greenwood, (a) Customer Information Delaware; To help the government fight the funding of terrorism and money “Business Days” are Monday through Friday, excluding Federal laundering activities, Federal law requires financial institutions to Reserve Bank holidays; obtain, verify and record information that identifies each individual and entity that opens an account. “CD” includes both “Non-IRA CD Account” and “IRA CD Account,” unless otherwise specified; What this means for you: When opening an Account, we will ask you to provide your name, “Debit Card” means both a Discover Checking Account Debit Card U.S. physical address (no P.O. Boxes), Social Security Number or a Discover Money Market Account Debit Card; (“SSN”) or other Taxpayer Identification Number (“TIN”), Date “Discover Student Deposits Program” means Checking Accounts of Birth for individuals, and other information that will help us SM opened through the RefundSelect and eRefunds PLUS™ to identify you. You may also be asked to provide a copy of your Program; driver’s license, state ID card or other identifying documents. “EFT” means Electronic Fund Transfer; It is your responsibility to maintain and promptly update any “Existing Customer” means a customer who has a Discover changes in the identifying information you provided to us at checking, savings, or money market account open and funded for Account opening or during the time your Account is open. Some at least 30 days; identifying information, such as physical address, mailing address, “IRA” includes an IRA CD and an IRA Savings Account, unless phone number, and email address, can be updated online through otherwise specified; the Account Center or you can update this information by calling us at 1-800-347-7000. “New Customer” means a customer who has not had a Discover checking, savings or money market account open and funded for (b) Eligibility at least 30 days; (i) To open an Account, each Account owner must be a U.S. citizen, U.S. resident alien or other U.S. person, and at least 18 years old, “we”, “us”, “our”, and “Discover” refer to Discover Bank, a Delaware- and have a valid TIN and a valid physical U.S. address. To open an chartered bank; Account under the Delaware Uniform Transfer to Minors Act, you “you”, “your”, and “Accountholder” refer to each person or entity in must be at least 21 years old. whose name an Account is held or who has authority to operate (ii) You (for joint Accounts, the Primary Accountholder as defined the Account, as well as any permitted assignee or successor in in Section 3) are required to be Account Center registered to interest to the Account. maintain your Cashback Debit Account. Failure to register and This Agreement, together with any amendments or addendums to these maintain registration in the Account Center will result in closure of terms and conditions or other agreements with respect to specific your Cashback Debit Account. products or services that we provide you concerning your Accounts and (iii) There are additional eligibility requirements for the Discover related products and services, governs your Accounts with Discover Student Deposits Program. Please see Section 7 for more details. Bank. Please read and keep this Agreement for your records. You agree to use your Accounts only for personal, family, or household purposes (iv) We may obtain information about you from third parties, and not for business or other non-personal purposes. Deposit accounts including credit or other consumer reporting agencies that will help us determine if we will open the Account you have requested. 1 2 This may include verification of employment and credit or other return the IRA contribution form(s) (“Contribution Form(s)”) and consumer reports or other reports from account information fund your IRA. If we do not receive the signed IRA Documents services. These inquiries may delay account opening. If you within 60 days from your application date, or if we do not apply for an account and we decline to open one as the result receive the Contribution Form(s) and funding within 60 days of information from a consumer report or another report from a from the date we receive the signed IRA Documents, your consumer reporting agency, we will tell you the name, address and application will be deemed abandoned and your IRA will not phone number of the consumer reporting agency. be opened. If you provided ACH funding instructions or internal (v) We do not open or maintain Accounts for customers with transfer funding instructions during the IRA application process, foreign tax status (e.g., W-8 filing status). We only open and maintain the instructions will be executed once the correctly and fully Accounts for consumers who can certify their W-9 status. If you executed IRA Documents and Contribution Form are received notify us that you are no longer eligible to W-9 certify, we will close by us. Any type of contribution received prior to our receipt of your Accounts as described in Section 24. the IRA Documents and Contribution Form will be returned. However, if a check is received prior to the receipt of the IRA (vi) There may be additional eligibility requirements imposed at Documents or the Contribution Form, we will hold it for up to our discretion. We reserve the right to decline to open an Account 30 days. If the correctly and fully executed IRA Documents for you for any lawful reason. and Contribution Form are not received, the check will be sent (3) AGREEMENT ACCEPTANCE/W-9 CERTIFICATION back to the address noted on the application after 30 days. As a condition to open and maintain an Account with us, you must do IRA funding checks will not be deposited and no interest will the following: be paid until the IRA is opened. We are entitled to a reasonable amount of time after receipt of your IRA Documents and (i) Indicate your acceptance of the Agreement. Contribution Form to process them, open your IRA, and post a.