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Regulation E - Electronic Funds Transfer Act

 

Electronic Fund Transfers: Your Rights and Responsibilities 

The Electronic Funds Transfers we are capable of handling, some of which may not apply to your account, are indicated below.

 Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.

 TRANSFER TYPES AND LIMITATIONS

Terminal transfers: You may use your card and/ or code to make:

1. Cash withdrawals from checking and/or savings accounts.

2. Deposits to checking and/or savings accounts.

3. Transfers of funds between checking and savings accounts upon request.

4. Transfer funds from checking or savings accounts to your loan account.

5. Pay for purchases at places that have agreed to accept your card and/or code.

6. Balance inquiry available at selected locations.

7. Pay bills or make transfers from your checking or savings account through your on-line banking account.

8. Some of the services may not be available at all terminals.

 Prearranged transfers: You may arrange for us to:

1. Accept certain direct deposits to your checking account.

2. Accept certain direct deposits to your savings account.

3. Pay certain recurring bills from your checking account in the amounts and on the days you request.

4. Pay certain recurring bills from your savings account in the amounts and on the days you request.

Telephone transfers: You may access your accounts by telephone at 890-2777 or 1-800-899-7977 using a touch tone phone, your account numbers, and Personal Identification Number to:

1. Transfer funds from checking to savings or from savings to checking.

2. Obtain balances on checking, savings, certificate of deposit, or loan accounts.

3. Request a stop payment, for which we will charge you a fee.

4. Transfer funds from checking or savings accounts to your loan account.

Electronic Check Conversions: You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to: (i) Pay for purchases.  (ii) Pay bills.  

Limitations: You may withdraw up to your daily dollar limit per day (if funds are available).

   Money Market or Savings:  You may make no more than six permissible transfers or withdrawals (or a combination thereof) to another account or to a third party by pre-authorized or automatic transfer, telephone transfer, computer transfer, check, debit card, or similar order during any calendar month (or statement cycle of at least four weeks).   If the transfer or withdrawal is initiated in person, at an ATM, by messenger, or by mail (with check being mailed directly to you), then there is no limit on the number of payments that may be made directly to you, directly to us for amounts you owe us, or transfers to other accounts you have with us.   If you exceed the limitation, we may close your account.

   Electronic Fund Transfers Initiated by Third Parties:  You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account.  These transfers to make or receive payment may be one-time occurrences or may recur as directed by you.  These transfers may use the Automated Clearing House (ACH) or other payments network.  Your authorization to the third party to make these transfers can occur in a number of ways.  For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt).  In all cases, these third party transfers will require you to provide the third party with your account number and financial institution information.  This information can be found on your check as well as on a deposit or withdrawal slip.  Thus, you should only provide your financial institution and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers.  Examples of these transfers include, but are not limited to: 

Electronic Check Conversion.  You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills. 

Electronic Returned Check Charge.  You may authorize a merchant to other payee to initiate an electronic fund transfer to collect a charge in the event a check is retuned for insufficient funds. 

 

 FEES

See Miscellaneous Account Fee Schedule.

 Notice Regarding ATM Fees by Others: If you use an automated teller machine that is not operated by us, you may be charged a fee by the operator of the machine and/or by an automated transfer network.

DOCUMENTATION

Terminal transfers: You can get a receipt at the time you make any transfer to or from your account using one of our terminals.

Preauthorized Credits: If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at 1-800-899-7977 to find out whether or not the deposit has been made.

In addition, you will get a monthly account statement from us, unless there are no transfers in a particular month. In any case you will get a statement at least quarterly.

PREAUTHORIZED PAYMENTS

Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here’s how:

Call or write us at the telephone number or address listed in this disclosure, 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 you call. We will charge you a fee for each stop payment order you give.

Notice of varying amounts: If these regular payments may 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.

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, 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 line.

3. If the automated teller machine where you are making the transfer does not have enough cash.

4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.

5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

6. There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

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

1) Where it is necessary for completing transfers; or

2) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or

3) In order to comply with government agency or court orders; or

4) If you give us written permission.

5) As explained in the separate Privacy Disclosure.

UNAUTHORIZED TRANSFERS

Consumer Liability: Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down.

Colorado Residents: If the unauthorized use of your lost or stolen card and/or code occurs through no fault of yours, no liability will be imposed on you. Otherwise, you will be liable for the lesser of (1) $50.00 or (2) the amount of any money, property, or services obtained by unauthorized use of the card and/or code before you gave us notice.

Visa Debit Card.  Additional limits on liability for unauthorized transactions.  Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa card. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by Visa.  Visa is a registered trademark of Visa International Service Association.

Kansas Residents:

You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 4 business days, you can lose no more than $50 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us writing 4 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission.)

If you do NOT tell us within 4 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 $300.

Kansas and Colorado Residents:

If your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed 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 periods.

Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa Debit card. This additional limit on liability does not apply to ATM transactions, to transactions using your Personal Identification Number which are not processed by Visa, or to commercial cards. A Visa card may not be used for any illegal transaction. Visa is a registered trademark of Visa International Service Association.

Contact in 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 at the telephone number or address listed in this disclosure.  You should also call the number or write to the address listed at the end of this disclosure if you believe a transfer has been made using the information from your check without your permission

Business Days: For purposes of these disclosures. Our business days are Monday thru Friday. Holidays are not included.

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this disclosure, as soon as you can, if you think your statement or receipt is wrong or if you need more 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 or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or 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.

 We will determine whether an error occurred 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, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your compliant or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer 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 question in writing and we do not receive it within 10 business days, we may not credit your account.

We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

For problem resolution call or write:

(800) 899-7977

(785) 890-2000

FIRST NATIONAL BANK

P.O. BOX 570

GOODLAND, KS 67735-0570

7/2013 

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