Electronic Funds Transfers
This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfers (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving an account at the Financial Institution. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfer. In this Agreement, the word "you" and "your" mean those who sign as applicants or any authorized user(s). The words "we", "us", and "our" mean the Financial Institution.
Online Banking
Types of Transactions: You may access certain account(s) you maintain with us by computer using your assigned user ID and password by accessing the online banking services. You may use the online banking service to perform the following functions:
- Transfer funds between eligible accounts.
- Obtain balance information on eligible accounts.
- Review transactions on eligible accounts.
- Make loan payments.
Limitations on Frequency and Amount:
- You may make six (6) transfers from your savings and MMDA account each month. If by preauthorized or automatic transfer, or telephone (including data transmissions) agreement, order or instruction. Three (3) of these transfers may be made by check, draft, debit card or similar order (including POS transaction), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
Fees and Charges for Online Service:
- There is no charge for banking online with us.
ATM Services
Types of Transfers: You may use the automated teller machine (ATM) card and personal identification number (PIN) issued to you to initiate transactions at ATMs within the networks identified on your card and such other facilities as we may designate from time to time. Unless you specify a different account during Automated Teller Machine (ATM) transactions, your Primary Account will be used for your transactions. Your primary account number and information may be obtained by request from bank. At present you may use your card to (some of these services may not be available at all ATMs):
- Withdraw cash from your checking account.
- Transfer funds between your checking and savings accounts.
- Obtain balance information on your deposit accounts.
Limitaions on Frequency and Amount:
- You may withdraw up to a maximum of $500.00 (if there are sufficient funds in your account) per day.
Fees and Charges for ATM Transactions:
- There is a Replacement Card Fee of $5.00 per card.
- There is a PIN Replacement Fee of $5.00 per card.
ATM Fees. When you use an ATM, you may be charged a fee by the ATM operator (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).
ACH
Types of Pre-authorized Transfers: You may arrange for us to complete the following pre-authorized transfers to your deposit accounts:
- Accept direct deposits from our employer or other financial institution to your checking or savings account.
Fees and Charges:
- We do not charge for any pre-authorized EFT's
- We will charge $15.00 for each stop payment order for pre-authorized transfers.
Pre-Authorized Debits
Types of Pre-Authorized Transfers: You may arrange for us to complete the following pre-authorized transfers to or from your deposit accounts:
- Pay certain recurring bills from your checking or saving accounts.
Fees and Charges:
- We do not charge for any pre-authorized EFT's
- We will charge $15.00 for each stop payment order for pre-authorized transfers.
Government Direct Deposits
Types of Pre-Authorized Transfers: You may arrange for us to complete the following pre-authorized transfers to or from your deposit accounts:
- Accept direct deposits from the U.S. Treasury Department to your checking or savings account.
Fees and Charges:
- We do not charge for any pre-authorized EFT's
Other EFT Transactions
You may access certain account(s) you maintain with us by other EFT transaction types as described below.
Electronic Check Conversion. You may authorize a merchant to use your check as a source of information to initiate an EFT from your account. Electronic check conversion is a payment process in which a merchant (after obtaining your authorization) uses your check to gather routing, account, and check number information to initiate a one-time EFT. This type of EFT transaction involving a consumer account is covered by the Electronic Funds Act and this disclosure. A description of the transaction will appear on your statement.
Pre-presented Check Transaction and Fees. You may authorize a merchant to electronically collect a fee associated with the re-presentiment of a check that is returned due to insufficient or unavailable funds. The resulting fee transaction if debited as an EFT from a consumer account is covered by the Electronic Funds Transfer Act and this disclosure. When a merchant re-presents a check electronically, that transaction is not covered by the Electronic Funds Transfer Act or this disclosure. A description of the transaction will appear on your statement.
Documentation:
Periodic Statement: You will get a monthly statement from us on your checking account(s) and Money Market Deposit accounts. You will get a quarterly statement on your savings account(s).
Direct Deposits: If you have arranged to have direct deposits made to your accounts at least once every sixty (60) days from the same person or company, you can call us at (785) 356-2195 to find out whether or not the deposit has been made.
Our Liability for Failure to Make Transfer. If we do not complete a transfer t of 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:
- If, through no fault of our own, you do not have enough money in your account to make the transfer.
- If the money in the account is subject to legal process or other clam restricting such transfer.
- If circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions we have taken.
- There may be other exceptions stated in our agreement with you.
In Case of Errors or Questions About Your Electronic Transfers. Telephone us a (785) 356-2195, or write to us at BISON STATE BANK, PO BOX 328. BISON KS 67520 as soon as you can, if you think your statement is wrong or if you feel you need more information about a transfer listed on the statement. We must hear from you no later than thirty (30) days after we sent the FIRST statement on which the problem appeared.
- Tell us your name and account number.
- Describe the error 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.
- Tell us the dollar amount of the suspected error.
Confidentiality. We will disclose information to third parties about your account or the transfers you make:
- To complete transfers as necessary.
- To verify the existence and condition of your account upon the request of a third party, such as credit bureau or merchant.
- To comply with government agency or court orders.
- If you give us written permission.
Notices. All notices from us will be effective when we have mailed them or delivered them to your last known address on our records. Notices from you will be effective when received by us at the telephone number or address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty one (21) days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing your account and any future changes to those regulations.
Enforcement. In the event either party brings a legal action to enforce the Agreement or collect amounts owing as a result of any Account transaction, the prevailing party shall be entitled to reasonable attorney’s fees and costs, including fees on any appeal, subject to any limits under applicable law.
Pre-Authorized Electronic Fund Transfers.
Stop Payment Rights. If you have told us in advance to make regular electronic fund transfers out of your account(s), you can stop any of these payments. Here's how: Call us or write us at the telephone number or address set forth above, in time for us to receive your request three (3) business or more before the payment is scheduled to be made. We will charge you $15.00 for each stop payment order we give.
Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, ten (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 payments would differ by more than a certain amount from the previous payment, or when the amount would fall outside a certain limit that you set.
Liability for Failure to Stop Payment of Pre-authorized Transfers. If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liabel for your loss or damages.
Other Provisions. There may be a delay between the time a deposit is made and when it will be available for withdrawal. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below required balance, or otherwise require us to increase our required reserve on the account.
