TERMS AND CONDITIONS
OF YOUR ACCOUNT
IMPORTANT INFORMATION ABOUT
PROCEDURES FOR OPENING A NEW ACCOUNT - To help the
government fight the funding of terrorism and money
laundering activities, Federal law requires all financial
institutions to obtain, verify, and record information
that identifies each person who opens an account. What
this means for you: When you open an account, we will ask
for your name, address, date of birth, and other
information that will allow us to identify you. We may
also ask to see your driver's license or other identifying
documents.
AGREEMENT - This document, along with any other
documents we give you pertaining to your account(s), is a
contract that establishes rules which control your
account(s) with us. Please read this carefully. If you
sign the signature card or open or continue to have your
account with us, you agree to these rules. You will
receive a separate schedule of rates, qualifying balances,
and fees if they are not included in this document. If you
have any questions, please call us.
This agreement is subject to applicable federal laws and
the laws of the state of Wisconsin (except to the extent
that this agreement can and does vary such rules or laws).
The body of state and federal law that governs our
relationship with you, however, is too large and complex
to be reproduced here. The purpose of this document is to:
(1) summarize some laws that apply to common transactions;
(2) establish rules to cover transactions or events which
the law does not regulate;
(3) establish rules for certain transactions or events
which the law regulates but permits variation by
agreement; and
(4) give you disclosures of some of our policies to which
you may be entitled or in which you may be interested.
If any provision of this document is found to be
unenforceable according to its terms, all remaining
provisions will continue in full force and effect. We may
permit some variations from our standard agreement, but we
must agree to any variation in writing either on the
signature card for your account or in some other document.
As used in this document the words “we,” “our,” and “us”
mean the financial institution and the words “you” and
“your” mean the account holder(s) and anyone else with the
authority to deposit, withdraw, or exercise control over
the funds in the account. The headings in this document
are for convenience or reference only and will not govern
the interpretation of the provisions. Unless it would be
inconsistent to do so, words and phrases used in this
document should be construed so the singular includes the
plural and the plural includes the singular. “Party” means
a person who, by the terms of an account, has a present
right, subject to request, to payment from the account
other than as an agent. A beneficiary of a P.O.D. account
is a party only after the account becomes payable to them
by reason of their surviving the original payee. A minor
may be a party to an account, subject to withdrawal
restrictions of Wisconsin law. Unless the context
indicates otherwise, “party” includes a guardian,
conservator, personal representative, or assignee,
including an attaching creditor, of a party.
LIABILITY - You agree, for yourself (and the person
or entity you represent if you sign as a representative of
another) to the terms of this account and the schedule of
charges. You authorize us to deduct these charges directly
from the account balance as accrued. You will pay any
additional reasonable charges for services you request
which are not covered by this agreement. Each of you also
agrees to be jointly and severally (individually) liable
for any account shortage resulting from charges or
overdrafts, whether caused by you or another with access
to this account. This liability is due immediately, and
can be deducted directly from the account balance whenever
sufficient funds are available. You have no right to defer
payment of this liability, and you are liable regardless
of whether you signed the item or benefited from the
charge or overdraft. This includes liability for our costs
to collect the deficit including, to the extent permitted
by law, our reasonable attorneys’ fees.
DEPOSITS - We will give only provisional credit
until collection is final for any items, other than cash,
we accept for deposit (including items drawn “on us”).
Actual credit for deposits of, or payable in, foreign
currency will be at the exchange rate in effect on final
collection in U.S. dollars. We are not responsible for
transactions by mail or outside depository until we
actually record them. We will treat and record all
transactions received after our “daily cutoff time” on a
business day we are open, or received on a day we are not
open for business, as if initiated on the next following
business day that we are open.
WITHDRAWALS - Unless clearly indicated otherwise on
the account records, any of you, acting alone, who signs
in the space designated for signatures on the signature
card may withdraw or transfer all or any part of the
account balance at any time. Each of you (until we receive
written notice to the contrary) authorizes each other
person signing the signature card to indorse any item
payable to you or your order for deposit to this account
or any other transaction with us. We may charge your
account for a check even though payment was made before
the date of the check, unless we have received written
notice of the postdating in time to have a reasonable
opportunity to act. We may refuse any withdrawal or
transfer request which you attempt on forms not approved
by us, by any method we do not specifically permit, which
is greater in number than the frequency permitted, or
which is for an amount greater or less than any withdrawal
limitations. Even if we honor a nonconforming request, we
may treat continued abuse of the stated limitations (if
any) as your act of closing the account. We will use the
date the transaction is completed by us (as opposed to the
date you initiate it) to apply the frequency limitations.
The fact that we may honor withdrawal requests that
overdraw the available account balance does not obligate
us to do so later. See the funds availability policy
disclosure for information about when you can withdraw
funds you deposit. For those accounts for which our funds
availability policy disclosure does not apply, you can ask
us when you make a deposit when those funds will be
available for withdrawal. We may require not less than 7
days’ notice in writing before each withdrawal from an
interest-bearing account other than a time deposit, or
from any other savings account as defined by Regulation D.
Withdrawals from a time account prior to maturity or prior
to any notice period may be restricted and may be subject
to penalty. See your notice of penalty for early
withdrawal.
OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION –
These rules apply to this account depending on the form of
ownership and beneficiary designation, if any, specified
on the account records. We make no representations as to
the appropriateness or effect of the ownership and
beneficiary designations, except as they determine to whom
we pay the account funds.
Single-Party Account - Such an account is owned by
one party.
Joint Survivorship Account (Not As Tenants In Common)
- Such an account is issued in the name of two or more
persons. Each of you intend that upon your death the
balance in the account (subject to any previous pledge to
which we have consented) will belong to the survivor(s).
If two or more of you survive, you will own the balance in
the account as joint tenants with survivorship and not as
tenants in common.
Marital Account - is an account established without
the right of survivorship by two parties who claim to be
husband and wife and is payable on request to either or
both parties.
Joint Account - No Survivorship (As Tenants In Common)
- is an account, other than a Marital Account or Joint
Survivorship Account, owned by two or more parties and
payable on request to one of two or more parties. The
parties do not intend (merely by opening this account) to
create any right of survivorship in any other party. We
encourage the parties to agree and tell us in writing of
the percentage of the deposit contributed by each of you.
This information will not, however, affect the “number of
signatures” necessary for withdrawal.
Single Account or Joint Survivorship Account with P.O.D.
Beneficiaries - Pay-on-death beneficiaries acquire the
right to withdraw only if: (1) all parties creating the
account die, and (2) the beneficiary is then living. If
two or more beneficiaries are named and survive the death
of all persons creating the account, such beneficiaries
will own this account in equal shares, without right of
survivorship. The person(s) creating this account type
reserve the right to: (1) change beneficiaries, (2) change
account types, and (3) withdraw all or part of the deposit
at any time.
Marital Account with P.O.D. Beneficiaries - Upon
the death of either party, 50% of the funds on deposit are
owned by the survivor and 50% are owned by the P.O.D.
beneficiary(ies) named by the deceased party. If two or
more beneficiaries are named by a party and survive the
death of the party, they shall equally share the 50% that
they own, without right of survivorship. The persons
creating this account type reserve the right to: (1)
change beneficiaries, (2) change account types, and (3)
withdraw all or part of the deposit at any time.
BUSINESS ACCOUNTS - Earnings in the form of
interest, dividends, or credits will be paid only on
collected funds, unless otherwise provided by law or our
policy. We may require the governing body of the legal
entity opening the account to give us a separate
authorization telling us who is authorized to act on its
behalf. We will honor the authorization until we actually
receive written notice of a change from the governing body
of the legal entity.
STOP PAYMENTS - You must make any stop-payment
order in the manner required by law and we must receive it
in time to give us a reasonable opportunity to act on it
before our stop-payment cutoff time. To be effective, your
stop-payment order must precisely identify the number,
date and amount of the item, and the payee.
You may stop payment on any item drawn on your account
whether you sign the item or not, if you have an equal or
greater right to withdraw from this account than the
person who signed the item. A release of the stop-payment
request may be made only by the person who initiated the
stop-payment order. Our stop-payment cutoff time is
one hour after the opening of the next banking day after
the banking day on which we receive the item. Additional
limitations on our obligation to stop payment are provided
by law (e.g., we paid the item in cash or we certified the
item).
TELEPHONE TRANSFERS - A telephone transfer of funds
from this account to another account with us, if otherwise
arranged for or permitted, may be made by the same persons
and under the same conditions generally applicable to
withdrawals made in writing. Unless a different limitation
is disclosed in writing, we restrict the number of
transfers from a savings account to another account or to
third parties, to a maximum of six per month (less the
number of “preauthorized transfers” during the month).
Other account transfer restrictions may be described
elsewhere.
AMENDMENTS AND TERMINATION - We may change any term
of this agreement. Rules governing changes in interest
rates are provided separately. For other changes, we will
give you reasonable notice in writing or by any other
method permitted by law. We may also close this account at
any time upon reasonable notice to you and tender of the
account balance personally or by mail. Notice from us to
any one of you is notice to all of you.
STATEMENTS - You must examine your statement of
account with “reasonable promptness.” If you discover (or
reasonably should have discovered) any unauthorized
signatures or alterations, you must promptly notify us of
the relevant facts. As between you and us, if you fail to
do either of these duties, you will have to either share
the loss with us, or bear the loss entirely yourself
(depending on whether we used ordinary care and, if not,
whether we substantially contributed to the loss). The
loss could be not only with respect to items on the
statement but other items with unauthorized signatures or
alterations by the same wrongdoer. You agree that the
time you have to examine your statement and report to us
will depend on the circumstances, but will not, in any
circumstance, exceed a total of 30 days from when the
statement is first sent or made available to you. You
further agree that if you fail to report any unauthorized
signatures, alterations, forgeries, or any other errors in
your account within 60 days of when we first send or make
the statement available, you cannot assert a claim against
us on any items in that statement, and as between you and
us the loss will be entirely yours. This 60-day limitation
is without regard to whether we used ordinary care. The
limitation in this paragraph is in addition to that
contained in the first paragraph of this section.
ACCOUNT TRANSFER - This account may not be
transferred or assigned without our prior written consent.
DIRECT DEPOSITS - If, in connection with a direct
deposit plan, we deposit any amount in an account which
should have been returned to the Federal Government for
any reason, you authorize us to deduct the amount of our
liability to the Federal Government from the account or
from any other account you have with us, without prior
notice and at any time, except as prohibited by law. We
may also use any other legal remedy to recover the amount
of our liability.
TEMPORARY ACCOUNT AGREEMENT - If this option is
selected, this is a temporary account agreement. Each
person who signs in the space designated for signatures on
the signature card (except as indicated to the contrary)
may transact business on this account. However, we may at
some time in the future restrict or prohibit further use
of this account if you fail to comply with the
requirements we have imposed within a reasonable time.
SETOFF - We may (without prior notice and when
permitted by law) set off the funds in this account
against any due and payable debt you owe us now or in the
future, by any of you having the right of withdrawal, to
the extent of such persons’ or legal entity’s right to
withdraw. If a joint or P.O.D. account requires the
signatures of all of the parties for purposes of
withdrawal then the account shall be subject to setoff to
the extent of the net contributions of the debtor party to
the account. If the debt arises from a note, “any due and
payable debt” includes the total amount of which we are
entitled to demand payment under the terms of the note at
the time we set off, including any balance the due date
for which we properly accelerate under the note. This
right of setoff does not apply to this account if: (a) it
is an IRA or other tax-deferred retirement account, or (b)
the debt is created by a consumer credit transaction under
a credit card plan (but this does not affect our rights
under any consensual security interest), or (c) the
debtor’s right of withdrawal only arises in a
representative capacity. We will not be liable for the
dishonor of any check when the dishonor occurs because we
set off a debt against this account. You agree to hold us
harmless from any claim arising as a result of our
exercise of our right of setoff.
AUTHORIZED AGENT - An authorized agent is a person
who by the terms of the account, has a present right,
subject to request, to payment from the account on behalf
of all of the parties to the account.
RESTRICTIVE LEGENDS - We are not required to honor
any restrictive legend on checks you write unless we have
agreed in writing to the restriction. Examples of
restrictive legends are “must be presented within 90 days”
or “not valid for more than $1,000.00.”
PAYMENT ORDER OF ITEMS – The law permits us to pay
items drawn on your account in any order (for purposes of
this section “items” means checks, orders and electronic
transactions). To assist you in handling your account with
us, we are providing you with the following information
regarding how we process those items. When processing
checks and orders drawn on your account our policy is to
pay them in numerical sequence. Lower numbered checks and
orders are paid first. For electronic transactions, our
policy is to pay them in the order that they are received.
The order in which items are paid is important if there is
not enough money in your account to pay all of the items
that are presented. There is no policy that is favorable
in every instance. If the smallest items are paid first,
you may have fewer NSF or overdraft fees, but the largest,
and perhaps more important items (such as rent or mortgage
payments) might not be paid. However, if the largest items
are paid first, your most important items might be paid
but it may increase the overdraft or NSF fees if funds are
not available to pay all of the items. We think our policy
attains a reasonable balance between minimizing additional
cost to you and paying your more important items. If an
item is presented without sufficient funds in your account
to pay it, we may, at our discretion, pay the item
(creating an overdraft) or return the item (NSF). The
amounts of the overdraft and NSF fees are disclosed
elsewhere. We encourage you to make careful records and
practice good account management. This will help you to
avoid creating items without sufficient funds and
incurring the resulting fees.
STALE-DATED CHECKS - We are not obligated to, but
may at our option, pay a check, other than a certified
check, presented for payment more than six months after
its date. If you do not want us to pay a stale-dated
check, you must place a stop-payment order on the check in
the manner we have described elsewhere.
ACH AND WIRE TRANSFERS - This agreement is subject
to Article 4A of the Uniform Commercial Code - Fund
Transfers as adopted in the state in which you have your
account with us. If you originate a fund transfer for
which Fedwire is used, and you identify by name and number
a beneficiary financial institution, an intermediary
financial institution or a beneficiary, we and every
receiving or beneficiary financial institution may rely on
the identifying number to make payment. We may rely on the
number even if it identifies a financial institution,
person or account other than the one named. You agree to
be bound by automated clearing house association rules.
These rules provide, among other things, that payments
made to you, or originated by you, are provisional until
final settlement is made through a Federal Reserve Bank or
payment is otherwise made as provided in Article 4A-403(a)
of the Uniform Commercial Code. If we do not receive such
payment, we are entitled to a refund from you in the
amount credited to your account and the party originating
such payment will not be considered to have paid the
amount so credited. If we receive a credit to an account
you have with us by wire or ACH, we are not required to
give you any notice of the payment order or credit.
—————————————
ELECTRONIC FUND
TRANSFERS
YOUR RIGHTS AND RESPONSIBILITIES
This Electronic
Fund Transfer disclosure does not apply to any accounts
other than consumer accounts, as defined by Regulation E.
Indicated below are 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 tells you your rights and obligations for the
transactions listed. You should keep this notice for
future reference.
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 bank
information. This information can be found on your check
as well as on a deposit or withdrawal slip. Thus, you
should only provide your bank 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:
• Preauthorized credits. You may make
arrangements 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 savings account(s).
• 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 or other payee to initiate an
electronic funds transfer to collect a charge in the event
a check is returned for insufficient funds.
Please also see Limitations on frequency of transfers
section regarding limitations that apply to savings
accounts.
Telebanc Telephone Transfers - types of transfers -
You may access your account by telephone at (920) 564-6678
or outside the Oostburg calling area at 1-888-299-6678
using your personal identification number, a touch tone
phone, and your account numbers to:
• transfer funds from checking to checking
• transfer funds from checking to savings
• transfer funds from savings to checking
• transfer funds from savings to savings
• transfer funds from line of credit to checking
• transfer funds from line of credit to savings
• make payments from checking to loan accounts with us
• make payments from savings to loan accounts with us
- the account balance of
checking accounts
- the account balance of
checking accounts
- deposits to checking
accounts
- withdrawals from
checking accounts
- the account balance of
savings accounts
- deposits to savings
accounts
- withdrawals from
savings accounts
- CD information
- loan information
Please also see Limitations on frequency of transfers
section regarding limitations that apply to telephone
transfers.
ATM Transfers - types of transfers and dollar
limitations – You may access your account(s) by ATM
using your ATM card and personal identification number or
CheckCard and personal identification number, to:
• make deposits to checking account(s)
• make deposits to savings account(s)
• get cash withdrawals from checking or savings
account(s)
- you may withdraw no
more than $500.00 per card number each day
• transfer funds from savings to checking account(s)
• transfer funds from checking to savings account(s)
• get information about:
- the account balance of
your checking account(s)
- the account balance of
your savings account(s)
Some of these services may not be available at all
terminals. Please also see Limitations on frequency of
transfers section regarding limitations that apply to
ATM transfers.
Types of CheckCard Point-of-Sale Transactions - You
may access your checking account(s) to purchase goods (in
person, online, or by phone), pay for services (in person,
online, or by phone), get cash from a merchant, if the
merchant permits, or from a participating financial
institution, and do anything that a participating merchant
will accept.
Point-of-Sale Transactions - dollar limitations -
Using your card:
• you may not exceed your available limit in
transactions per day
Please also see Limitations on frequency of transfers
section regarding limitations that apply to debit card
transactions.
Chargebacks. For any point-of-sale transaction of
$50.00 or more, if we receive written or oral notice from
you within three banking business days of the transaction,
we shall reverse the transaction and recredit your
account. Notice must be provided to us at the address or
telephone number appearing in this disclosure.
Currency Conversion. If you effect a transaction
with your CheckCard in a currency other than US Dollars,
MasterCard will convert the charge into a US Dollar
amount. The MasterCard currency conversion procedure
includes use of either a government mandated exchange
rate, or a wholesale exchange rate selected by MasterCard.
The exchange rate MasterCard uses will be a rate in effect
on the day the transaction is processed. This rate may
differ from the rate in effect on the date of purchase or
the date the transaction was posted to your account.
Advisory Against Illegal Use. You agree not to use
your card(s) for illegal gambling or other illegal
purpose. Display of a payment card logo by, for example,
an online merchant does not necessarily mean that
transactions are lawful in all jurisdictions in which the
cardholder may be located.
Online Banking Computer Transfers - types of transfers
and dollar limitations - You may access your account(s)
by computer through the internet by logging onto our
website at www.oostburgbank.com and using your password
and your account numbers, to:
• transfer funds from checking to checking
• transfer funds from checking to savings
• transfer funds from savings to checking
• transfer funds from savings to savings
• transfer funds from line of credit to checking
• transfer funds from line of credit to savings
• make payments from checking to loan account(s) with
us
• make payments from checking to third parties (Bill
Pay)
- you may transfer no
more than $5,000.00 per day
• make payments from savings to loan account(s) with us
• get information about:
- the account balance of
checking account(s)
- deposits to checking
accounts
- withdrawals from
checking accounts
- the account balance of
savings account(s)
- deposits to savings
accounts
- withdrawals from
savings accounts
Please also see Limitations on frequency of transfers
section regarding limitations that apply to computer
transfers.
Health Savings Accounts (HSA). We permit some
electronic fund transfers to and/or from your HSA. The
electronic fund transfers we permit are offered for the
convenience of managing your HSA. However, electronically
moving funds to or from your HSA – for example, depositing
more than the allowable amount, or getting additional cash
back on an HSA debit card transaction – can raise a
variety of tax concerns. As a result, before
electronically accessing any account you may have with us,
it is a good practice to make sure you are using the
correct access device (such as a card) or accessing the
appropriate account for the transaction. Also, it is your
responsibility to ensure the contributions, distributions,
and other actions related to your HSA, comply with the
law, including federal tax law. As always, we recommend
consulting a legal or tax professional if you have any
questions about managing your HSA. The terms of this
disclosure are intended to work in conjunction with the
HSA Agreement provided to you earlier. In the event of a
conflict, the terms of the HAS Agreement control. You
understand that your HSA is intended to be used for
payment of qualified medical expenses. It is your
responsibility to satisfy any tax liability resulting from
use of your HSA for any purpose other than payment or
reimbursement of qualified medical expenses. We do not
monitor the purpose of any transaction to or from your HSA.
Nor are we responsible for ensuring your eligibility for
making contributions or ensuring withdrawals are used for
payment or reimbursement of qualified medical expenses.
Refer to your HSA Agreement for more information relating
to the use of your HSA.
Limitations on frequency of transfers. In addition
to those limitations on transfers elsewhere described, if
any, the following limitations apply:
• Transfers from a savings account to another account
or to third parties by preauthorized, automatic,
telephone, or computer transfer are limited to six per
month with no transfers by check, debit card or similar
order to third parties.
• Transfers from a money market account to another
account or to third parties by preauthorized, automatic,
telephone, or computer transfer are limited to six per
month with no more than three by check, draft, or similar
order to third parties.
FEES
• We do not
charge for direct deposits to any type of account.
• We do not charge for preauthorized payments from any
type of account.
Except as indicated elsewhere, we do not charge for
these electronic fund 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
get a receipt at the time you make any transfer to or from
your account using one of our automated teller machines or
point-of-sale terminals. However, you may not get a
receipt if the amount of the transfer is $15 or less.
• 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, the person
or company making the deposit will tell you every time
they send us the money or call us at (920) 564-2336.
• Periodic statements. You will get a monthly
account statement from us for your checking, statement
savings, and money market accounts.
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 is how:
Call or write us at the telephone number or address
listed in this brochure 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
Please refer to our separate fee schedule for the
amount we will charge you 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 you have an overdraft line and the transfer
would go over the credit limit.
(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 transfers 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) as explained in the separate Privacy Disclosure.
UNAUTHORIZED
TRANSFERS
(a)
Consumer liability.
• Generally. 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. You can lose no more than $50 if you fail to
give us notice of a lost or stolen card and/or code. If
you do give us notice after learning of the loss or theft
of your card and/or code, you will be liable for the
lesser of:
(1) $50 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.
Also, 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 period.
• Additional Limits on Liability for CheckCard,
when used for point-of-sale transactions. You will
not be liable for any unauthorized transactions using your
CheckCard, when used for point-of-sale transactions, if: (i)
you can demonstrate that you have exercised reasonable
care in safeguarding your card from the risk of loss or
theft, (ii) you have not reported to us two or more
incidents of unauthorized use within the prior
twelve-month period, and (iii) your account is in good
standing. If any of these conditions are not met, your
liability is the lesser of $50 or the amount of money,
property, labor, or services obtained by the unauthorized
use before notification to us. “Unauthorized use” means
the use of your debit card by a person, other than you,
who does not have actual, implied, or apparent authority
for such use, and from which you receive no benefit. This
additional limitation on liability does not apply to
PIN-based transactions or transactions not processed by
MasterCard.
(b) Contact in event of unauthorized transfer.
If you believe your card and/or code has been lost or
stolen, call or write us at the telephone number or
address listed in this brochure. You should also call the
number or write to the address listed in this brochure if
you believe a transfer has been made using the information
from your check without your permission.
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 brochure, 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 complaint
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. 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.
We will tell you the results within three 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.
OOSTBURG STATE BANK
BOOKKEEPING
905 CENTER AVENUE
OOSTBURG, WISCONSIN 53070
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (920) 564-2336
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST
—————————————
YOUR ABILITY TO WITHDRAW FUNDS
This policy
statement applies to all deposit accounts.
Our policy is to make funds from your cash and check
deposits available to you on the first business day after
the day we receive your deposit. Electronic direct
deposits will be available on the day we receive the
deposit. Once the funds are available, you can withdraw
them in cash and we will use the funds to pay checks that
you have written.
Please remember that even after we have made funds
available to you, and you have withdrawn the funds, you
are still responsible for checks you deposit that are
returned to us unpaid and for any other problems involving
your deposit.
For determining the availability of your deposits,
every day is a business day, except Saturdays, Sundays,
and federal holidays. If you make a deposit before 5:00
P.M. Monday through Thursday and 6:30 P.M. Friday at the
main office (cutoff times may be later on some days or at
some locations) on a business day that we are open, we
will consider that day to be the day of your deposit.
However, if you make a deposit after 5:00 P.M. Monday
through Thursday and 6:30 P.M. Friday at the main office
or on a day we are not open, we will consider that the
deposit was made on the next business day we are open.
If you make a deposit at an ATM before 6:30 P.M.
on a business day that we are open, we will consider that
day to be the day of your deposit. However, if you make a
deposit at an ATM after 6:30 P.M. or on a day we are not
open, we will consider that the deposit was made on the
next business day we are open.
If we cash a check for you that is drawn on another
bank, we may withhold the availability of a corresponding
amount of funds that are already in your account. Those
funds will be available at the time funds from the check
we cashed would have been available if you had deposited
it.
If we accept for deposit a check that is drawn on
another bank, we may make funds from the deposit available
for withdrawal immediately but delay your availability to
withdraw a corresponding amount of funds that you have on
deposit in another account with us. The funds in the other
account would then not be available for withdrawal until
the time periods that are described elsewhere in this
disclosure for the type of check that you deposited.
LONGER DELAYS MAY
APPLY
Case-by-case delays. In some cases, we will not make
all of the funds that you deposit by check available to
you on the first business day after the day of your
deposit. Depending on the type of check that you deposit,
funds may not be available until the fifth business day
after the day of your deposit. The first $100 of your
deposits, however, may be available on the first business
day.
If we are not going to make all of the funds from
your deposit available on the first business day, we will
notify you at the time you make your deposit. We will also
tell you when the funds will be available. If your deposit
is not made directly to one of our employees, or if we
decide to take this action after you have left the
premises, we will mail you the notice by the day after we
receive your deposit.
If you will need the funds from a deposit right
away, you should ask us when the funds will be available.
Safeguard exceptions. In addition, funds
you deposit by check may be delayed for a longer period
under the following circumstances:
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,000 on any one
day.
You redeposit a check that has been returned unpaid.
You have overdrawn your account repeatedly in the last
six months.
There is an emergency, such as failure of computer or
communications equipment.
We will notify you if we delay your ability to withdraw
funds for any of these reasons, and we will tell you when
the funds will be available. They will generally be
available no later than the eleventh business day after
the day of your deposit.
DEPOSITS AT
AUTOMATED TELLER MACHINES
Funds from
any deposits (cash or checks) made at automated teller
machines (ATMs) we do not own or operate will not be
available until the second business day after the day of
your deposit. This rule does not apply at ATMs that we own
or operate.
All ATMs that we own or operate are identified as our
machines.
©1988, 1995 Wolters
Kluwer Financial Services - Bankers Systems
