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. 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
account(s). SHAZAM, VISA and Cirrus Networks You may access your
account by ATM using your ShazamCheck Card and personal identification
number to get cash withdrawals from your checking account - the dollar
limit will be disclosed in writing upon card authorization. SHAZAMCheck
point-of-sale transactions You may access you checking account
to purchase goods (in person or by phone), get cash from a merchant,
if the merchant permits, or from a participating financial institution,
and do anything that you can do with a credit card (that a participating
merchant will accept with a credit card). the dollar limit will
be disclosed in writing at card authorization.
ELECTRONIC CHECK CONVERSION
You may access your checking account to purchase goods or get cash from a merchant if the merchant allows and you allow the merchant to convert your check information to an electronic format.
may terminate the electronic fund transfer agreement by written notice
* We may terminate
the electronic fund transfer agreement by written notice to you
* We will
charge $5.00 to replace a lost debit card
* 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 electronic fund transfers.
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.
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.
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 320-356-7334 to find out whether or not the deposit
has been made.
You will get a monthly account statement from us for your checking accounts.
For passbook accounts, you will get your account statement quarterly.
Right to stop payment and procedures 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 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 for
each stop payment order you give. See Truth in Savings Disclosure.
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.)
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.
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
(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
(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 take.
(6) There may be
other exceptions stated in our agreement with you.
We will disclose
information to third parties about your account or the transfers that
(1) when 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.
(a) Consumer liability.
(1) Generally. Tell us at once if you believe your card and /or code
has been lost or stolen. Telephoning is the best way of keeping your
possible losses down. You could loose all of the money in your account
(plus your maximum overdraft line of credit). We will be liable for
all unauthorized transfers unless the unauthorized transfer was due
to the loss or theft of your card and/or code. If due to the loss or
theft of your card and /or code, and you notify us within 60 days of
when the unauthorized transfer appears on the statement you can lose
no more than $50 if someone used your card and/or code without permission.
If you do NOT notify
us within 60 days after the unauthorized transfer appears on your statement,
and we prove that we could have stopped someone from using your card
and/or code without your permission if you had told us within 2 days
of when you discover the loss or theft of your card and/or code, you
could lose as much as $500 for unauthorized transfers that appear on
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 get back any money you lost after the 60 days if we prove that we
could have stopped someone from taking the money if you had told us
If a good reason
(such as a long trip or a hospital stay) kept you from telling us, we
will extend the time periods.
(2) Effective 11-01-97,
Additional Limits on Liability for SHAZAMCheck Card, when used for point-of-sale
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 SHAZAMCheck Card, when used for point-of-sale transactions,
if you report the loss or theft of your card within 2 business days,
your liability is the lesser of $50 or the amount of money, property,
labor, or services obtained by the unauthorized use before notifications
(b) 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.
RIGHT TO BRING
You may bring civil
action against any person violating any provision of Minnesota Statutes
47.69 (governing consumer privacy and unauthorized withdrawals).
If you prevail in
such an action, you may recover the greater of your actual damages or
$500. You may also be entitled to recover punitive damages, your court
costs and reasonable attorneys fees.
TIME NEEDED TO
COMPLETE TERMINAL TRANSACTIONS
at a terminal will normally be completed and charged to your account
the next business day.
Payment for goods
or services made in this manner shall not affect any of the rights,
protections, or liabilities in existing law concerning a cash or credit
sale made by means other than through the use of a terminal. You cannot
reverse a point-of-sale transaction.
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 (5 business days if
the transfer involved a point-of-sale transaction and 20 business days
if the transfer involved a new account) after we hear from you we 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 you account within
10 business days (5 business days if the transfer involved a point-of-sale
transaction and 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.
An account is considered a new account for 30 days after the first deposit
is made, if you are a new customer.
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.
PO Box 8
Avon, MN 56310-0008
Phone: (320) 356-7334
Monday through Friday
Excluding Federal Holidays