Electronic Funds Transfers (Your Rights and Responsibilities)

Please read this information carefully because it tells you your rights and obligations for Online Banking. You should consider printing this page for future reference.

Internet Banking (World Wide Web)

You may access your bank accounts and make payments from your checking account to third parties 24 hours a day with a personal computer and Internet access at the Bank's website with a user ID and password.

Types of Transfers and Charges

For Online Banking transactions, a Money Market account is defined as a checking account.  All Online Banking transfers after 6:00 p.m. will be on the next business day and information is available only for the current statement cycle and up to 18 months via the Account Activity page in Online Banking. All bill payment transactions after 3:00 p.m. will be on the next business day and information is available only for the current statement cycle and up to 18 months via the Account Activity page in Online Banking.

You may use Online Banking to:
Limitations on Frequency of Transfers

In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:

Fees
Internet Banking

There is no charge for Internet Banking.  There will be a $2.95 fee charged each statement cycle for Internet Banking with bill payment.  This fee will be reduced or waived if you receive your statement electronically instead of by mail on a qualifying checking account.  If you are receiving an online bill payment fee waiver and pay fewer than two payments per month for three consecutive months, you may be charged a $3 inactivity fee.  This fee will not be charged in any month where you pay two or more bills online.

Online Banking Inactive Accounts

We reserve the right to discontinue the service if an account remains inactive for three or more months.

Periodic Statements

You will get a monthly account statement from us showing your account transactions including your Online Banking transfers and payments.

Stop Payment Procedures and Notice of Varying Amounts
Right to Stop Payment and Procedure for making Stop Payments:

If you have told us in advance to make regular payments out of your account, you can stop any of these payments.  Here is how:  Call or write to us at the phone numbers or address on the website or email us via securemail in time for us to receive your request 3 business days or more before the payment is scheduled to be made.  If you call, we may also require you to put your request in writing and get it to us within 14 days after your call.  We will charge you $15 for each stop payment order you give us.

Notice of Varying Amounts:

If these regular payments vary in amount, the person you are going to pay will tell you 10 days before each payment when it will be made and how much it will be.  (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)

Liability for Failure to Stop Payment of Preauthorized Transfer:

If you order us to stop one of these payments 3 business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

Our Liability
Liability for Failure to Make Transfers:

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages.  However, there are some exceptions.  We will NOT be liable, for instance:

  1. If, through no fault of ours, you do not have enough money in your account to make the transfer.
  2. If the transfer would go over the credit limit on your overdraft credit line.
  3. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  4. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken.
  5. There may be other exceptions stated in our agreement with you.
Disclosure of Account Information To Third Parties

We will disclose information to third parties about your account or the transfers you make:

  1. When it is necessary for completing transfers.
  2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.
  3. In order to comply with government agency or court orders; or
  4. If you give us written permission.
Unauthorized Transfers

Tell us AT ONCE if you believe your personal identification number or password has been lost or stolen.  Telephoning is the best way of keeping your possible losses down.  You could lose all of the money in your account (plus your maximum overdraft line of credit).  If you tell us within 2 business days, you can lose no more than $50 if someone used your personal identification number or password without your permission.  (If you believe your personal identification number or password has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your personal identification number or password without your permission.)

If you do not tell us within 2 business days after you learn of the loss or theft of your personal identification number or password and we can prove we could have stopped someone from using your personal identification number or password without your permission if you had told us, you can lose as much as $500.

Also, if your statement shows transfers that you did not make, tell us at once.  If you do not tell us within 60 days after the statement was delivered to you, you may not get back any money you lost after the 60 days, if we can prove that we could have stopped someone from taking the money, if you had told us in time.  If a good reason, (such as a long trip or a hospital stay) kept you from telling us, we will extend the time period.

If you believe your personal identification number or password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call, email, or write to us at the telephone number or address listed on this web page.

Error Resolution

In case of errors or questions about your electronic transfers, call us at the telephone number or write to the address listed as soon as you can, if you think your information about a transfer listed on the statement or receipt.  We must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared.

  1. Tell us your name and account number (if any).
  2. Describe the error on the transfer you are unsure about;  explain as clearly as you can why you believe it is an error and why you need more information.
  3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.  And we will tell you the results of our investigation within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly.

If we need more time, we may take up to 45 days (90 days if the transfer involved a new account) to investigate your complaint or question.  If we do this, we will recredit your account within 10 business days (20 business days if the error involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation.  If we ask you to put your complaint or questions in writing and we do not receive it within 10 business days, we may not recredit your account.  Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

If we decided that there was not an error, we will send you a written explanation within 3 business days after we finish our investigation.  You may ask for copies of the documents that we used in our investigation.

3/2016