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This page outlines the types of Electronic Fund Transfers we are capable of handling, some
of which may not apply to your account. Please read this
disclosure carefully because it informs you of your rights and
obligations for the transactions listed.
Electronic Funds
Transfers Initiated by Third Parties. You may
authorize a third party to initiate electronic funds transfers
between your account and the third party's account. These
transfers to make or to receive payment may be one-time occurrences
or may recur as directed by you. These transfers may use the
Automated Clearinghouse (ACH) or other payment networks. Your
authorization to the third party to make these transfers can occur
in a number of ways. In some cases, your authorization can
occur when the merchant posts a sign informing you of its policy.
In all cases, the transaction will require you to provide the third
party with your account information. This
information can be found on your check as well as on a pre-printed deposit slip. Thus, you should only provide your account information (by telephone, internet, or another method) to
trusted third parties whom you have authorized to initiate these
electronic funds transfers. Examples of these transfers
include but are not limited to the following examples:
-
Preauthorized credits. You may arrange for certain direct deposits to be accepted into
your checking or savings account(s).
-
Preauthorized payments. You may make
arrangements to pay certain recurring bills from your checking
or money market account(s).
-
Electronic check conversion. You may provide
your check to a merchant or service provider who scans the
check for the encoded bank and account information. The
merchant or service provider uses this information to
convert the transaction into an electronic funds transfer.
This may occur at the point of purchase or when you provide your
check by other means such as by mail or drop box.
-
Electronic returned check charge. Some
merchants or service providers initiate an electronic funds
transfer to collect a charge in the event a check is returned
for insufficient funds.
ATM Transfers. Our ATM cards can be used at most
ATM's throughout the country. You may access your account(s)
by ATM using your ATM card and PIN to perform the following
transactions:
-
to make deposits to checking
and/or savings account(s) tied to an ATM card.
-
to make cash withdrawals from checking or savings account(s)
tied to an ATM card. You may withdraw no more than $250.00
per business day.
-
to transfer funds between accounts
tied to an ATM card
-
to obtain account balances for
account(s) tied to ATM cards
Some of these services may not be
available at all terminals.
Types of ATM/Debit
Card Transactions. You may access your checking account(s)
to purchase goods, to pay for services, and to obtain cash from a
merchant, if the merchant permits, or from a participating financial
institution.
Online
Banking Transfers. You may access your accounts via the
internet at www.cnbguymon.com to perform the following
functions:
-
to transfer funds
between accounts
-
to make payments
from savings or checking account(s) to loan account(s) with us
-
to obtain
information about account balance(s) and account activity
Fees. We
do not charge for direct deposits to any type of account.
Except as indicated elsewhere, we do not charge for these electronic
funds transfers.
ATM
Operator/Network Fees. When you use an ATM not owned by
us, you may be charged a fee by the ATM operator or any network
used, and you may be charged a fee for a balance inquiry even if you
do not complete a fund transfer.
Documentation
Terminal
transfers. You can obtain a receipt at the time you make
any transfer to or from your account using one of our ATM's or
point-of-sale terminals.
Preauthorized
credits. If you have arranged to have direct deposits made
to your account at least once very 60 days from the same person or
company, you may call us or may contact us to find out if the
deposit has been made.
Periodic
statements. You will receive a monthly account statement
from us for your checking account(s). You will receive a
monthly account statement from us for your savings account(s) unless
there are no electronic transfers in a particular month.
Regardless, you will receive a savings statement at least quarterly.
Preauthorized
Payments
Right and
procedures to stop payment. If you have told us in advance
to make regular payments from your account, you can stop any of
these payments. To do so, call or write us in time for us to
receive your request at the latest 3 days before the payment is
scheduled. We may also require you write your request and to
return it to us within 14 days after you call. We will charge
you $18.00 for each stop payment order you place on your account(s).
Notice of varying
amounts. If these regular payments vary in amount, the
person or company you are paying will notify you 10 days before each
payment to inform you of the withdrawal date and amount. You
may choose instead to receive this notice only when the payment
differs by more than a certain amount from the previous payment or
when the amount falls outside certain limits that you set.
Inform the person or company making the withdrawal if you prefer the
latter option.
Liability for
failure to stop payment of preauthorized transfer. If you
order us to stop one of these payments at least 3 business days
before the transfer is scheduled and we fail to do so, we are liable
for your losses and damages due to our error.
Financial
Institution's 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, some exceptions exist.
We are not liable in the following situations:
-
if, through no
fault of ours, you do not have enough money in your account to
make the transfer.
-
if you have an
overdraft line and the transfer would then exceed the credit
limit.
-
if the ATM where
you make the transfer does not have enough cash.
-
if the terminal
or system was not working properly and you knew about the
breakdown when you started the transfer.
-
if circumstances
beyond our control (such as fire or flood) prevent the transfer
despite reasonable precautions that we have taken.
-
There may be
other exceptions stated in our agreement with you.
Confidentiality
We will disclose
information to third parties about your account or the transfers you
make as permitted by law in the following situations:
-
where the
disclosure is necessary for completing transfers.
-
in order to
verify the existence and condition of your account for a third
party such as a credit bureau or merchant.
-
in order to
comply with government agency or court orders.
-
as explained in
our Privacy Disclosure.
Unauthorized
Transfers
Consumer liability.
Tell us at once if you believe your card and/or code has been
lost or stolen. Calling us is the best way of minimizing your
possible losses. You could lose all the money in your account
plus your maximum overdraft line of credit. If you tell us
within 2 business days, you may lose no more than $50 if someone
uses your card and/or code without permission. If you believe
your card and/or code 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 uses your card and/or code without your
permission.
If you do not
tell us within 2 business days after you learn of the loss or theft
of your card and/or code and we can prove we could have stopped
someone from using your card and/or code without your permission if
you had told us, you could 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 mailed
to you, you may not recover any money you lose 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 an extraordinary
circumstance such as an extended trip or hospital stay prevents you
from contacting us, we may extend the time periods.
Contact in the
event of unauthorized transfer. If you believe your card
and/or code has been lost or stolen or that someone has transferred
or may transfer money from your account without your permission,
call or write us immediately.
Online Banking
Transfers
Consumer and bank
liability applies in the manner outlined above for unauthorized
electronic transfers perpetrated from your online banking account.
Error Resolution
Notice
In case of errors or
questions about your electronic transfers, call or write us as soon
as you can if you think your statement or receipt is incorrect or if
you need more information about a transfer listed on the statement
or receipt. You must contact us no later than 60 days after we
send you the first statement on which the problem or error
appears. When you contact us, tell us your mane and account
number. Describe the error or the transfer you are
questioning, and explain as clearly as you an why you believe it is
an error or why you need more information. 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.
Within 10 business
days (20 business days if the transfer involves a new account) after
you contact us, we will determine if an error occurred and will
correct it promptly. If we need more time to investigate, we
may take up to 45 days (90 days if the transfer involves a new
account, a point-of-sale transaction, or a foreign-initiated
transfer) to investigate your complaint or question. If we
decide to use the longer time frame, we will credit your account
within 10 business days (20 business days if the transfer involves a
new account) for the amount in question so that you will have the
use of the funds during the time it takes us to complete our
investigation. If we ask you to put your complaint or question
in writing and we do not receive it within 10 business days, we may
not credit your account. Your account is considered a new
account for the first 30 days after the first deposit is made unless
each account owner already has an established account with us before
this account is opened.
We will tell you the
results of our investigation within 3 business days after completing
our investigation. If we decide that there was no error, we
will send you a written explanation. If we find that no error
occurred and we previously credited your account, you may be liable
for charges made to your account during our investigation. We
may honor charges made to your account for 5 business days after we
notify you of our error resolution; however, you will be liable for
those charges. You may ask for copies of the documents used in
our investigation. |
