Important information for SunTrust Small Business Customers
Welcome to
Account conversion dates: Friday, July 17 - Sunday, July 19, 2020
Welcome to First Horizon!
The way you see money is as unique and personal as the way you see
the world. What you want it to do for you, where you want it to take you –
it’s a one-of-a-kind story only you can write.
As we welcome you to First Horizon Bank, we’re excited for the
opportunity to see your financial life the way you do, and understand
the relationship you want to have with your money.
We think banking can be better when it starts with understanding.
When it’s not just about a transaction. Rather, when it’s helping you
take action – on every next step and new adventure life brings your way.
That’s our priority at First Horizon, and we’re looking forward to showing
you in the coming days.
For updates to this booklet, visit: firsthorizon.com/suntrustwelcome
If you are a named party in a bankruptcy case or if you have received a bankruptcy
discharge for any indebtedness referenced in this communication, then this booklet is for
informational purposes only, and is not an attempt to collect a debt from you personally.
Welcome to First Horizon Bank
We’re excited to welcome you
as a new First Horizon Bank customer.
You may have questions about the conversion
of your SunTrust accounts to First Horizon Bank
products. This booklet is designed to walk you
through the products, features, and services that
will soon be available to you.
Some details may not have been finalized by
the time this booklet was printed. For updates
and other helpful information, please visit
firsthorizon.com/suntrustwelcome.
Important Contact Information
If you still have questions after reviewing the materials provided here, please refer to the contact
information below.
Until Close of Business Friday, July 17, 2020:
Continue to contact your local SunTrust branch or call SunTrust Customer Service at 800-473-4462.
On or After Saturday, July 18, 2020: Contact your local First Horizon banking center or call the First Horizon Business Service Center at
866-229-0840, Monday-Friday, 7 a.m. – 7 p.m. Eastern Time. For your convenience, agents will be
available during conversion weekend, and automated account information is available 24 hours a day.
Call to Action
• Please take a moment to verify your contact information and email address with SunTrust to
ensure you receive important information, updates, and notifications from First Horizon.
Use your SunTrust mobile app, log in to your account at suntrust.com, or call SunTrust Customer
Service at 800-473-4462 to update.
• Email notifications will be sent to you from First Horizon’s domain: @firsthorizon.com. Please mark
this domain as a safe sender to ensure that emails received from this domain are not redirected or
blocked as SPAM.
Follow us on social media for additional updates:
@FirstHorizonBank
@FirstHorizonBnk
@FirstHorizonBank
@FirstHorizonBank
2
3
Here’s What Is Inside
Here’s What Is Inside
4
What to Expect and When
8
Online and Mobile Banking
11
Account Transition Information
13
Account Transition Information – Checking
15
Account Transition Information – Savings
17
Business Loans and Lines of Credit
19
Additional Business Services
What to Expect and When
4
What to Expect and When
Your SunTrust Accounts
Your SunTrust accounts will become First Horizon Bank accounts on Saturday, July 18, 2020. This
booklet includes information on how your accounts will change, as well as more details on key services
such as online and mobile banking.
Affected Bank Branches
•F
riday, July 17, 2020: Affected SunTrust branches will close at 12:00 p.m. Signage will be posted
at these branches in advance of July 17.
•S
aturday, July 18, 2020: Affected SunTrust branches with Saturday hours will be closed.
• Monday, July 20, 2020: Affected SunTrust branches will reopen as First Horizon banking centers.
Operating hours will not change.
Affected SunTrust ATMs
•T
uesday, July 14 - Friday, July 17, 2020: ATMs located at affected SunTrust branches may not
be available as new ATM hardware is installed by First Horizon. You can continue to access cash
conveniently at unaffected SunTrust ATMs using your SunTrust debit card.
•B
eginning Saturday, July 18, 2020: You will receive a new First Horizon Visa® debit card in the mail
prior to conversion weekend. This card will automatically be activated on July 18, at 1:01 a.m. ET.
Enjoy the added convenience of fee-free withdrawals at First Horizon ATMs and more than 43,000
ATMs nationwide in the Allpoint ATM network. You can find First Horizon and Allpoint network ATMs
using the ATM Locator on the First Horizon website at firsthorizon.com.
•B
eginning Monday, July 20, 2020: You can make deposits at full-service First Horizon ATMs.
SunTrust branches and ATMs that will become First Horizon branches and ATMs:
Georgia
Dahlonega
111 S Chestatee St., Dahlonega, GA
Monday-Thursday 9am-5pm
Friday 9am-6pm
Jesup
175 S Macon St., Jesup, GA
Monday-Thursday 9am-4pm
Friday 9am-6pm
North Carolina
Advance
5361 US Hwy 158, Advance, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
West Franklin Street
126 W Franklin St., Chapel Hill, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
University Mall
5361 US Hwy 158, Advance, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-12pm
Bethesda Pointe
1611 S. Miami Blvd., Durham, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-1pm
1
5
What to Expect and When
North Carolina (cont.)
Croasdaile
Northgate Mall
Riverview
South Square
Triangle Park
Hillsborough Central
New Market Plaza
Mocksville Yadkinville Road
Pittsboro
South Madison Blvd
First Stratford
Medical Park
Ogburn Station
Reynolda Road
Walkertown Main
Yadkinville State Street
Cheriton
Collinsville
Village of Martinsville
Onancock
Main & Court
Smith Mountain Lake
South Boston
Patrick County
1821 Hillandale Rd., Durham, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-12pm
2008 E. NC Hwy 54, Durham, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
88 Hillsboro St., Pittsboro, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
4306 N. Liberty St,
Winston-Salem, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
1516 N Gregson St., Durham, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-1pm
260 S Churton St., Hillsborough, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-12pm
207 S. Madison Blvd., Roxboro, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
2801 Reynolda Rd.,
Winston-Salem, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
5112 N Roxboro St., Durham, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-1pm
1000 Main St., Kernersville, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
101 S Stratford Rd., Winston-Salem, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
2820 Old Hollow Rd.,
Walkertown, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
4235 University Dr., Durham, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-12pm
880 Yadkinville Rd., Mocksville, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
2006 S Hawthorne Rd.,
Winston-Salem, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-12pm
200 S State St., Yadkinville, NC
Monday-Thursday 9am-5pm
Friday 9am-6pm
Virginia
21263 Lankford Hwy.,
Cape Charles, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
260 S Main St., Rocky Mount, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
3000 Virginia Ave., Collinsville, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
13264 Booker T Washington Hwy.,
Hardy, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
250 Commonwealth Blvd. W.,
Martinsville, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
Saturday 9am-12pm
410 Main St., South Boston, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
62 Market St., Onancock, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
114 W. Blue Ridge St., Stuart, VA
Monday-Thursday 9am-5pm
Friday 9am-6pm
Account Numbers
Deposit Accounts
• First Horizon has assigned new deposit account numbers to all affected SunTrust customers.
You will receive a letter containing your new deposit account number(s).
• You will receive an initial supply of welcome checks with your new account and routing number
with instructions for ordering complimentary, personalized checks. If older SunTrust checks are still
outstanding (previously written but not cashed/posted), they will be honored for 60 days after conversion.
• Bank endorsement stamps for checks deposited should be updated to reflect the new bank name
as well as account number as soon after Friday, July 17, 2020, as possible.
Business Loans and Lines of Credit
• First Horizon has assigned new loan account numbers to all affected SunTrust customers.
You will receive a letter containing your new loan account number(s).
2
What to Expect and When
6
• If you have a business line of credit that currently includes convenience checks as an accessibility
option, First Horizon will generate and mail new checks to you. Please discard any unused SunTrust
convenience checks, as these will not be valid post-conversion.
Routing Number
The routing number associated with your checking account(s) will change as part of this conversion.
Effective Saturday, July 18, 2020, please reference the new First Horizon routing number:
084000026.
Your current SunTrust checks will continue to work normally with the old routing number for up to
60 calendar days, and during this 60-day period we will notify anyone who currently posts a direct
deposit or automatic (recurring) debit to your account of this change. In some cases of automatic
transfers, the originator may reach out to you for confirmation of your routing number. If so, please
reference the new First Horizon routing number: 084000026.
IMPORTANT: Please wait until July 18, to use the new routing number. Using the new number
before July 18, may result in your transaction(s) being rejected.
Business Debit Cards
• You will receive a new First Horizon Visa® business debit card in the mail in advance of conversion
weekend. Put it in a safe place and do not destroy your SunTrust debit card.
• Your SunTrust business debit card can continue to be used though Friday, July 17. Your new
First Horizon Bank card will be automatically activated on Saturday, July 18, at 1:01 a.m. ET and can
immediately be used.
• Continue to use your current SunTrust PIN associated with your SunTrust business debit card
for debit and ATM transactions until July 18. You will receive a new PIN for your new First Horizon
business debit card in the mail. Once your card is active, you can change your PIN on or after July 18,
at any First Horizon ATM or by calling customer service at 866-229-0840. You may also change it
in a banking center beginning July 20.
Recurring Electronic Credits and Debits (ACH)
Established recurring electronic credits and debits (ACH) will continue to post to your account
without any changes on your part. First Horizon will send a notification of the new account number
and routing number to each business posting an ACH transaction to your SunTrust account(s) within
the first 60 calendar days. You are welcome to notify your business partners and vendors of the new
account number and routing number. However, please wait until July 20, to ensure transactions
will be accepted.
Business Account Statements and Transaction and Statement History
SunTrust will mail your final Account Statement for activity posted through Friday, July 17, 2020, on your
next scheduled statement cycle date. You will also receive a statement from First Horizon Bank on your
first statement cycle date for activity posted after July 17, through the statement cycle date.
Note: If you previously received images of deposit tickets and/or credit receipts in your statement,
this will no longer be available after Friday, July 17, 2020.
If you received online monthly statements instead of paper statements, you will continue to receive
online statements.
3
7
What to Expect and When
Important Notice:
•B
eginning July 18, you will no longer have online access to your SunTrust account data,
statements, or transaction history online. You are encouraged to take steps in advance of this date
to gather and/or download any historical information your business will need.
•B
eginning July 20, if you have questions about or need a copy of a previous statement, contact
the First Horizon Business Service Center at 866-229-0840. We will open a research request
with SunTrust.
Safe Deposit Boxes
If you currently have a safe deposit box, your service will continue without interruption unless otherwise
notified. Your current lease fee will remain the same through your current rental period. At the time of
your next renewal, your lease fee will be subject to First Horizon Bank pricing.
For any additional questions regarding your safe deposit box lease, contact the banking center where
your box is located.
Business and Commercial Credit Cards
SunTrust Business credit cards will continue to be serviced by SunTrust, uninterrupted and are not
included in this system conversion. If you have questions about your card, please call SunTrust at
800-477-9702.
4
Online and Mobile Banking
8
Online and Mobile Banking
Getting Started
First Horizon Bank is excited to welcome you to our online and mobile banking. You’ll find everything
you need to stay on top of your business’ financial life – wherever it may take you!
•M
onday, July 13, 2020 at noon ET: SunTrust bill pay service will no longer be available.
Any previously scheduled bill pays will process normally.
•F
riday, July 17, 2020 at 11 p.m. ET: The conversion for online and mobile banking will begin.
Online and Mobile Banking at SunTrust will not be available while we convert all of your account
information to First Horizon.
•M
onday, July 20, 2020: You can begin using First Horizon’s Online and Mobile Banking services.
If these services are available earlier, we will let you know.
SunTrust online and mobile banking profiles will be converted to First Horizon if one or both of the
following statements applies to you:
• You have logged into SunTrust’s online or mobile platforms at any point since Wednesday,
February 19, 2020.
• You have a scheduled bill payment or transfer.
Otherwise, your profile will not be transferred, and you will need to enroll in First Horizon’s online and
mobile banking after conversion.
Logging in the First Time
•M
onday, July 20, 2020: Go to firsthorizon.com
or download the First Horizon Bank Mobile Banking
App from the App Store® or Google PlayTM to log in.
• Most customers will keep their current SunTrust User ID. If you have a User ID that is already in use
at First Horizon, your User ID will need to be changed. If this is necessary, you will be notified via
email with further instructions.
• You will also receive a temporary password via email over conversion weekend that you will be
prompted to change upon first logging in.
• After logging in for the first time, you will be prompted to accept our Digital Services Agreement
(Terms and Conditions) and choose your security questions.
App Store is a service mark of Apple Inc., registered in the U.S. and other countries. Google Play is a trademark of Google LLC.
Bill Pay and Transfers
• Any payment or transfer scheduled to occur after July 17, 2020, will be transferred to First Horizon.
Six months of payment history will also be available.
5
9
Online and Mobile Banking
• Note: There are a few instances that cannot be transferred, as they are not supported by
First Horizon. If you would like these transactions to transfer to First Horizon, please update
them prior to July 13, at noon ET. Unsupported types include:
- Recurring payments or transfers that are set to occur daily or at 4-month intervals
- Payments or transfers that are scheduled 365 days in the future or exceeding 999 instances
Important Changes:
If you are an online or mobile banking user who initiates Bill Pay transactions:
• Now through July 17: Bill Pay items scheduled to be sent electronically are debited from
your account during overnight processing. If being sent via check, Bill Pay items are not
debited until the check is received and presented to the bank for payment by the depositing
financial institution.
• The cutoff time to create, edit, or delete Bill Pay items is July 13, at noon ET. This will ensure that
all Bill Pay items scheduled after July 17, are successfully converted to First Horizon.
•B
eginning on July 20: All Bill Payments will be debited from your account on the date they are
scheduled to be sent.
Our Digital Solutions at Work
First Horizon’s digital solutions provide a consistent experience between Online and Mobile Banking.
Everything you can do safely and securely within Online Banking is available on the mobile banking app.
Our digital solutions allow you to:
• View balances and transactions
• Set up alerts
• View checks or deposit slip images and statements
• Initiate transfers and pay bills
• Initiate stop payments
• Initiate ACH payments (such as Direct Deposit Payroll (PPD) and Vendor Payments (CCD))
• Manage user entitlements
• Access Business Mobile Banking, including mobile remote deposit capture
• And much more
6
Online and Mobile Banking
10
Key Features
Make a deposit using First Horizon Bank’s mobile app
Deposit checks quickly and securely without going to the bank. Use First Horizon Bank’s Mobile Banking
to take a picture of your endorsed check, then follow the prompts to deposit your check from almost
any location.*
Initiate ACH payments such as Direct Deposit (payroll), tax payments, and
vendor payments
The Automated Clearing House (ACH) network is a nationwide funds-transfer system for handling
electronic credit and debit transactions exchanged between customers at the same or different
financial institutions. ACH transactions are similar to that of a check, but instead of paper, financial
institutions send each other electronic files via the ACH network.
Important information for business customers with ACH services:
• At close of business on Friday, July 17, 2020, your current SunTrust ACH terms and conditions will
be amended and superseded by terms and conditions that will be provided in the Small Business
Digital Terms of Service.
• First Horizon offers BizEssentials® Business Checking customers ACH Payment Services for a
packaged fee of:
- $25.00 per month with no per-item ACH transaction fees
- Other ACH standard fees will apply:
- ACH Returns - $6.50 each
- Same-day ACH Transactions - $1.00 each
* Mobile Deposit is subject to eligibility requirements. There may be charges by your cellular provider associated with data usage on your phone.
Check with your wireless carrier for more information.
Small Business Digital Banking with QuickBooksTM
Small Business Digital Banking with QuickBooks offers you the ability to connect to the bank and
automatically import and categorize transactions. Using your Small Business Digital Banking credentials,
you can configure your QuickBooks software to connect before you can access your accounts.
Monday, July 20, 2020: If you have been using QuickBooks and wish to set up online access, go to your
online bank account check register and select the option for Download Bank Statement. The software
wizard will prompt you for the information needed to set up online access.
Small Business Digital Banking with QuickBooks offers many features and benefits,
such as:
• Running customizable reports
• Tracking goods and services through the entire supply chain
• Transferring funds online between accounts
• Paying bills online
7
11
Account Transition Information
Account Transition Information
Business Checking and Savings Accounts
If your SunTrust account is…
On July 18, your new product will be…
Account Type
Analyzed Checking
Analyzed Business Checking
Medical Cash Manager
Analyzed Business Checking
Analyzed
Total Business Banking Checking
Primary Business Checking
BizEssentials® Basic Checking
Non-Analyzed
Simple Business Checking
BizEssentials® Value Checking
Non-Analyzed
Select Business Checking
BizEssentials® Standard Checking
Non-Analyzed
Signature Advantage Business
FDIC
Business NOW
Business Advantage Plus
Business Interest Checking
BizEssentials® Interest Checking
Non-Analyzed
Business Savings
BizEssentials® Savings
Non-Analyzed
Business Money Market Advantage
Business Advantage Money Market
Business Money Market Performance
Business Money Market
Non-Analyzed
Business Premium NOW
Analyzed Interest Checking
Business Analysis Interest Checking
Business Interest Checking Analyzed
Analyzed
IOLTA
IOLTA
N/A
Important information regarding service charges:
• Fees on Non-Analyzed business accounts will be waived for five statement cycles, with the exception
of transactional fees incurred such as, but not limited to, Stop Payment, NSF/OD, Return Item, and
Wire Transfer.
8
Account Transition Information
12
Standard (Non-Analyzed) Business Deposit Account Fees
STATEMENTS
Paper Statement1
$5.00
per month
Online Statement
$0.00
per month
Special Statement (non-month-end statement cycle)
$12.00
per statement
Dormant Account
$5.00
per month
Image Replacement Document
$0.25
per document
$16.00
per item
$3.00
per item
Foreign ATM Withdrawal/Balance Inquiry Fee
$3.00
per withdrawal
QuickStatements
$2.00
per statement
Wire Incoming Fed Transfer
$16.00
per transfer
Wire Outgoing Manual Template, Manual Freeform, Web Template,
or Web Freeform
$25.00
per transfer
Wire Internal/Book Transfer
$10.00
per transfer
Wire International Incoming
$16.00
per transfer
Wire International Outgoing
$55.00
per transfer
$50.00
per acct/mo
$5.00
per item
$25.00
per item
$45.00
per item
Cashier’s Checks
$8.00
per check
Notary Fee
$3.00
Statement Update
$2.00
Gift Checks (denominations of $25, $50, and $100)
$2.50
per check
$37.00
per item,
plus float
$37.00
per item
CHARGE BACKS (Return Item Deposited)
Charge Back Fee
RESEARCH
Account Research and Records
AUTOMATIC TELLER MACHINE (ATM)
WIRE TRANSFER
Wire International Block
DEPOSIT OF FOREIGN CHECKS
2
Canadian Item
Other Foreign Item
Collection of Foreign Checks
2
MISCELLANEOUS CHARGES
RETURNED CHECK CHARGES
Returned Check Charge
OVERDRAFT CHARGES
Overdraft Charge
Continuous Overdraft Charge
3
$25.00
STOP PAYMENTS
Stop Payments Manual
$37.00
per order
1
aper Statement Fee can be waived with a minimum daily balance of $5,000 for BizEssentials® Checking – Basic accounts or $10,000 for BizEssentials® Checking –
P
Standard accounts. The Paper Statement fee can also be waived by opting for Online Statement ONLY. Online statements can be accessed using Small Business Digital.
2
Items less than $3,000 have $10.00 postage fee; greater than $3,000 have a $30.00 courier fee.
3
Continuous Overdraft Fee charged on the 15th and the 35th day that an account remains continuously overdrawn.
9
13
Account Transition Information – Checking
Account Transition Information – Checking
Analyzed Business Checking
Designed for companies with medium-to-high-volume activity, First Horizon Bank rewards your
business by giving credit for the balances your business maintains to offset your monthly activity
charges through Account Analysis.
Depository and Treasury Management fees are assessed through Account Analysis, allowing for your
average positive collected balances to offset service charges. Account activity and fees per account
will roll up to a Master/Key account, allowing Earnings Credit Allowance based on the sum of the
positive collected balances to offset all service charges.
Benefits include:
• Cost efficiency – Get rewarded for your banking services and high checking balances.
•T
reasury Management enhancement – Detailed monthly statements provide a comprehensive
view of your monthly cash position.
Important information for business clients with a Business Checking/Analyzed Account:
• Pricing for Analyzed accounts will be waived for July and August 2020. Current SunTrust pricing will
be honored through Thursday, December 31, 2020. New services implemented after Friday, July 17,
2020, will be subject to First Horizon Bank pricing.
• You will have online access to a detailed monthly Account Analysis statement by the third business
day of the next month, via Business Banking Online. The detailed Account Analysis statement will
provide an activity summary of depository and Treasury Management service charges for the
previous month, which will easily assist you in managing your banking services usage.
• This checking account cycles at the end of the month and charges are deducted on or around the
19th of the following month. If the 19th falls on a non-banking day, the Account Analysis charges
will be deducted on the next banking day. For example, your Account Analysis statement for
September will be available on the third business day of October, and the Account Analysis charges
will be deducted from the checking account on Monday, October 19, 2020. The account currently
being debited for fees will remain the same.
BizEssentials® Non-Interest and Interest Checking
BizEssentials® Checking is designed for a multitude of companies, depending on transaction volume.
It offers you convenient checking services at competitive rates.
10
Account Transition Information – Checking
14
Benefits include:
• Business Banking Online with Bill Pay
•B
usiness Mobile Banking
• Sweep to Savings Feature available to help earn interest on idle funds
• Auto Advance Feature1 through linking to a BizEssentials® Line of Credit
Transactions per month2
Value
Basic
Standard
Interest
75
250
600
600
$15.00
$25.00
(Can be waived with an average
daily balance of $10,000 or
$25,000 combined balances3)
$25.00
No
Yes4
Monthly Service Charge
$5.00
(Can be waived with
an average daily
balance of $5,000)
Earns Interest
No
No
1
A $15 transfer fee per advance from a Business Line of Credit to a BizEssentials® Checking account applies.
2
Transactions include: checks paid, checks deposited, deposit slips, mobile deposits, online bill payments, and electronic debits and credits (including debit card
transactions). Each $250 increment of cash deposit counts as one transaction. $0.50 charge per transaction over transaction limit.
3
ccounts eligible for combined balances must be reported under the same tax identification number or Social Security Number associated with the BizEssentials®
A
Checking account and include business loans, lines of credit, business savings, certificate of deposit, and personal checking and savings accounts.
4
Your interest rate will be converted to the standard interest rate in effect at First Horizon. However, if you currently have a promotional interest rate, it will be honored
through its expiration date.
Business Money Market
SunTrust business money market accounts will be converted to First Horizon Bank Business Money
Market accounts.
Important information for business customers with a Business Money Market account:
• Service charges will be waived for five statement cycles then will be subject to standard
service charges.
• Your interest rate will be set to the standard interest rate in effect. However, if you currently have a
promotional interest rate, it will be honored through its expiration date.
Note: Federal law requires that we convert a savings account to a checking account if you repeatedly
exceed six pre-authorized or automatic transfers or transactions by check (or similar order payable to a
third party) per month. Regardless of withdrawal type, a $5 Excessive Withdrawal Fee will be assessed
for each withdrawal in excess of six during each statement cycle.
11
15
Account Transition Information – Savings
Account Transition Information – Savings
BizEssentials® Savings
SunTrust business savings accounts will be converted to BizEssentials® Savings accounts.
With BizEssentials® Savings, you can link to your BizEssentials® Checking account to take advantage
of an automatic sweep feature that allows you to earn interest on excess funds. You set the peg/target
balance – a pre-determined dollar amount (minimum $5,000) in your checking account – and any
excess funds are transferred to your business savings account when the peg balance is reached. If
needed, funds will sweep back into your business checking account.
Important information for business customers with a BizEssentials® Savings account:
• BizEssentials® Savings accounts do not incur monthly maintenance fees.
• Your existing interest rate will be set to the standard interest rate then in effect. However, if you
currently have a promotional interest rate, it will be honored through its expiration date.
Note: Federal law requires that we convert a savings account to a checking account if you repeatedly
exceed six pre-authorized or automatic transfers or transactions by check (or similar order payable to a
third party) per month. Regardless of withdrawal type, a $5 Excessive Withdrawal Fee will be assessed
for each withdrawal in excess of six during each statement cycle.
Certificates of Deposit (CDs)
Your CD(s) will automatically transition with no changes to maturity dates or interest rates and
calculations. Your current interest payment frequency will be as follows:
12
Term – Daily
Interest Payment Frequency
Less than or equal to 32 days
Monthly
Less than or equal to 92 days but greater than 32 days
Quarterly
Less than or equal to 183 days but greater than 92 days
Semi-Annually
Greater than 183 days
Annually
Term – Monthly
Interest Payment Frequency
Less than 3 months
Monthly
Equal to 3 months but less than 6 months
Quarterly
Equal to 6 months but less than 10 months
Semi-Annually
Equal to 10 months and greater
Annually
Account Transition Information – Savings
16
Prior to maturity, you will receive a CD maturity notice. If your CD is $100,000 and over or a Public Fund
CD, your CD will mature and will no longer earn interest. To continue earning interest, you must request
a renewal. All other CDs will auto-renew to a similar term at the then-current interest rate, unless you
redeem or make changes within seven calendar days from maturity.
Upon reinvestment of your Certificate of Deposit, the following will apply:
• Interest calculation will convert from daily compound to simple interest.
• Early withdrawals will be subject to a penalty equal to:
Schedule of Early Withdrawal Penalties
Term
Penalty
7 to 29 days
30 days’ interest
30 to 364 days
90 days’ interest
12 months to 59 months
180 days’ interest
60 months or greater
365 days’ interest
13
17
Business Loans and Lines of Credit
Business Loans and Lines of Credit
If you have a business purpose loan with SunTrust, this loan will
transition on Saturday, July 18, 2020. All changes to your account,
including your account number, are described either within
this packet or will be included in separate communications,
prior to conversion. Please make sure you frequently visit
firsthorizon.com/suntrustwelcome for helpful information
and important updates.
Payment Notification
• If you receive monthly loan statements, they will continue
to be sent in advance of the due date of your next payment.
The layout of the First Horizon Bank statement will be different
and will be unique per account(s). However, pertinent
information will be provided, as well as a contact number,
should you have any questions regarding your statement.
• If you use loan coupons to make your payments, you will
begin receiving monthly loan statements. Please discard your
SunTrust loan coupon booklet once you receive your first
First Horizon statement. A payment remittance form will be
included with your statement that you can detach and return
with your payment, if your payment is mailed.
Paycheck Protection
Program and other
COVID-19 Relief Loans
If your business recently
secured a Paycheck
Protection Program (PPP)
loan with SunTrust, now
Truist, this loan will continue
to be serviced by SunTrust,
uninterrupted, and is not
included in this system
conversion. If you have
questions about your PPP
loan, please call SunTrust
at 800-473-4462. All other
COVID-19 relief loans will
transition to First Horizon
on July 18.
Important Notice: Loan Statements will not be converted to First Horizon. Please download any loan
transaction history or statements from the SunTrust online systems prior to July 17. If you have questions
or need a copy of a previous statement after conversion, please contact the First Horizon Business
Service Center at 866-229-0840. We will open a research request with SunTrust.
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Business Loans and Lines of Credit
18
Beginning Monday, July 20, 2020, you will need to make payments to First Horizon utilizing one of the
payment options below.
Current Payment Method
New Service Method and Instructions
Automatic draft from your
bank deposit account (ACH)
No changes. Authorized monthly ACH drafts for your loan
payments will continue.
Wire Payments
If you would like to submit your payment via wire, please use
the following instructions:
ABA Number: 084000026
Beneficiary Account Name: Bank Secrecy Account
Beneficiary Account Number: 1141743913
Credit To/In Name Of: First Horizon Bank
Ref: Customer or Account: Customer Name, Account
Number, Type of Request (i.e., payment)
Mail Payments
Send to: First Horizon, Attn: Payment Processing P.O. Box 31,
Memphis, TN 38101. Please include your First Horizon Bank loan
number on your check and make the check payable to
First Horizon Bank.
At a banking center
You may make payments at any First Horizon banking center.
Visit www.firsthorizon.com to find a location near you.
Online Banking
Visit www.firsthorizon.com to make your payments. You must
have a First Horizon Bank deposit account to be able to make
online payments.
Online Bill Payment
and Third-Party
Bill Payment Services
If you currently utilize a third-party and/or online bill payment
service, please contact your provider to request that First Horizon
Bank, Attn: Payment Processing, P.O. Box 31, Memphis, TN 38101
be made the payee on your account. Failure to do so could
result in delays that cause you to incur additional charges. Please
provide your loan account number to the third-party and/or online
bill payment service to ensure your payment posts accurately.
By Phone
Contact Loan Services at 800-327-3028.
Credit Report Changes
Credit Report Inquiries
Credit inquiries made by First Horizon Bank or SunTrust will appear on your credit report as FrstHrznBk.
Credit Reporting
If your loan or line of credit transaction activity is reported to the Credit Reporting Agencies, this will
continue, but the lender name will change to FrstHrznBk.
15
19
Additional Business Services
Additional Business Services
Overdraft Protection
Overdraft Protection is a service that links your checking account to another account to provide an
automatic transfer of funds in the event the balance in your checking account becomes overdrawn.
There are several ways SunTrust has traditionally offered this service, some of which will no longer be
available after July 17. If you currently have Overdraft Protection that will no longer be supported, you
will receive a separate communication explaining how the changes will affect you.
First Horizon offers the following overdraft protection options:
• BizEssentials® Savings, when linked to your BizEssentials® Checking account, takes advantage of
an automatic sweep feature that allows you to earn interest on excess funds. You set the peg/target
balance – a pre-determined dollar amount (minimum $5,000) in your checking account – and
any excess funds are transferred to your BizEssentials® Savings account when the peg balance is
reached. If needed, funds will sweep back into your BizEssentials® Checking account to cover the
overdraft amount and replenish the peg balance.
• BizEssentials® Auto Advance connects your checking account to your BizEssentials® Line of Credit.1
If you overdraw your checking account, the funds in your BizEssentials® Line of Credit can provide
additional protection. There is a $15.00 transfer fee assessed for this product.
1
The BizEssentials® Line of Credit is subject to bank and credit approval.
Overdraft and Insufficient Funds Fees
A $37.00 Overdraft Fee will be assessed for each overdraft created by check, in-person withdrawal,
recurring debit card payment, other electronic means, for each ATM withdrawal, or one-time debit card
purchases. For Non-Analyzed Accounts, if you overdraw your account by $5.00 or less on any one day,
there will be no overdraft charge. You will be assessed a $37.00 Insufficient Funds Fee for each returned
check or item drawn on your account that we return due to insufficient funds.
Important Change:
•P
rior to July 18: Your accounts may be assessed a maximum daily total of twenty (20) Insufficient
Funds and twenty (20) Overdraft Fees.
•B
eginning July 18: An Insufficient Fund and/or Overdraft Fee will be assessed per item that causes
an overdraft condition. The maximum combined daily total will be removed.
16
Additional Business Services
20
Continuous Overdraft Fees
Important Change:
•P
rior to July 18: A Continuous Overdraft Fee of $36.00 will be imposed on the fifth day when
your current (ledger) account balance remains overdrawn for five consecutive business days.
•B
eginning July 18: For Non-Analyzed Accounts, if your account remains overdrawn for fifteen
(15) calendar days, your account will be assessed a $25.00 Continuous Overdraft Fee. If the
account is not returned to a zero or positive balance by the 35th calendar day, a second $25.00
Continuous Overdraft Fee will be assessed.
Payment Order of Items
It is important for you to understand the way in which items will post to your account(s) beginning July
18, as First Horizon processes certain types of transactions “real time.” “Real-time” means that most
electronic transactions such as wires, ACH transfers, debit card transactions, ATM withdrawals, internal
funds transfers, and Bill Pays will post to your account in the order in which we receive them, also known
as time-stamp order. If your account becomes overdrawn during the day due to real-time processing,
no overdraft fees will be charged if your account is returned to a positive balance by the end of the
Business Day. Please refer to the Bank Depositor Agreement for additional information.
Except for the processing of real-time transactions, including, but not limited to, wires, ACH, debit card,
ATM withdrawal, internal funds transfers, bill pay, and assuming all deposit and withdrawal transactions
below are made and received by us within the same business day (note: it may take up to 3 days for
certain debit card purchases to be presented to us from the retailer), they will post to your account in
the following order:
1. Credits in descending dollar amount.
2. Bank-initiated debits in descending order amount.
3. N
on-returnable debits in time-stamp order (e.g., wires, ACH pre-fund transactions,
debit card, ATM withdrawal, internal funds transfers, bill pay).
4. Non-returnable debits not time stamped (e.g., “on-us” cashed checks in check number order).
5. Returnable debits, ACH debit (non-pre-fund transactions) by PAR number then checks in
check number order.
6. Post-system-generated transactions: service charges and fees.
17
Notes
18
Notes
19
All account information, including any fees or charges listed in this booklet, is accurate as of May 8, 2020. Product features and fees are subject to change
with appropriate notice. Please also see the enclosed Bank Depositor Agreement and the Fee Schedule for additional details.
©2020 First Horizon Bank. Member FDIC. www.firsthorizon.com
ST-SB-005