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Bank of Utica ELECTRONIC FUNDS TRANSFER DISCLOSURE (Member FDIC)
This disclosure will explain your rights and responsibilities if you choose to have electronic funds transfers (EFT) made to or from your account. Examples of these may be payments made through online bill paying, direct deposit of payroll or Social Security or automatic payments for insurance premiums. This information applies to accounts opened for personal use only.
Business Days: Our business days are Monday through Friday from 9:00 a.m. to 5:00 p.m. Our drive-in is open until 5:30 p.m. on Friday. Holidays are not included. For online bill paying, payments made before 5:00 p.m. will be posted as of the current day. Transactions after 5:00 p.m. will be posted on the next business day.
Types of Transactions Transactions that can be done electronically are: Pre-authorized Credits - These are deposits you have arranged to be made directly to your account at least once every 60 days from the same person or company.
Pre-authorized Debits - These are automatic payments that you have authorized to have charged to your account on a regular basis.
Transactions at an Electronic Terminal - These include transactions made at terminals such as Automatic Teller Machines or Point of Sale terminals. These are not discussed in this brochure. Please see our “QuickDraw Cardholder Agreement” for an explanation of these services.
Internet Banking, Telephone Transfers, Online Bill Paying - You may access your account and do transfers or make loan payments 24 hours a day through our automated Around The Clock telephone banking system by dialing (315) 797-2710 and Internet Banking system at www.bankofutica.com. To access your account information you will need a personal identification number (PIN), a touch tone telephone and your account numbers. You can also pay bills online by using our Internet Banking and choosing the payment option.
Limits on Transfers There are no dollar limits on these transactions. There are limits on the number of transactions that can be made from Money Market and Statement Savings Accounts. Federal regulations allow 6 preauthorized transfers per month of which only 3 can be made by check, debit card, or similar order to a third party. Preauthorized debits, Around The Clock telephone transfers, and Internet Banking (bill paying) are included in the 6 transfer limit.
Fees There is no fee to have a preauthorized credit or debit made to your personal checking account. There is also no fee to make any transfers through our Around The Clock telephone banking or Internet Banking systems. There are charges to use our QuickDraw card. These are described in our QuickDraw brochure.
There may be other fees in connection with your account. These are listed in the brochure “Understanding Your Deposit Account” you received when you opened your account.
Right to Receive Documentation of Transfers a. 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 (315) 797-2700 to find out if the deposit has been made. b. Periodic statements - You will get a monthly account statement. A detailed description of these electronic transfers will appear on your statement. c. QuickDraw transfers - You will get a receipt at the time you make any transfer to or from your account using your QuickDraw Card. d. Passbook Accounts - The only possible electronic fund transfers are preauthorized credits. We will mail you a notice at the time the credit is posted to your account. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.
Your Right To Stop Payment Of Preauthorized Transfers: Procedure For Doing So, Right To Receive Notice Of Varying Amounts, Bank’s Liability For Failure To Stop Payment Right to stop payments 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’s how: Call us at (315) 797-2700 ext. 233, or write to Bank of Utica, Checking Account Department, 222 Genesee St., Utica, NY 13502, in time for us to receive your request at least 3 business days before the payment is scheduled to be made. If you call, we will require you to put your request in writing and get it to us within 14 days after you call. We will charge you a stop payment fee as outlined in our service charge schedule.
Notice of varying amounts - If these regular payments vary in amount, the company you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be.
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 do not do so, we will be liable for your losses or damages.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS,
Telephone us at (315) 797-2700 ext. 233 or write us at Bank Of Utica, Checking Account Department, 222 Genesee St., Utica, NY 13502.
Contact us as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. a. Tell us your name and account number. b. Describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. c. 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 tell you the results of our investigation within 10 business days after we hear from you and will correct any error promptly. This will be extended to 20 days for complaints involving “new” accounts open less than 30 days after the first deposit to the account was made. If we need more time, however, we may take up to 45 days to investigate your complaint or question. We may take up to 90 days if the transaction was initiated outside the United States, resulted from a point-of-sale-debit card transaction; or the account is “new”. If we decide to do this we will recredit your account within 10 business days (20 days for “new” accounts) 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 recredit your account.
If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation. If we had recredited your account due to the time required for the investigation, it will be necessary for you to reimburse us. You may ask for copies of the documents that we used in our investigation.
Liability For Unauthorized Transfers Tell us AT ONCE if you believe your ATM card or your Around The Clock Telephone or Internet banking PIN have been lost or stolen or if you believe that someone has transferred or may transfer money from your account without your permission. You can call us at (315) 797-2700 or write to Bank of Utica, Checking Account Department, 222 Genesee St., Utica, NY 13502. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your available Check Credit line of credit). If you tell us within two business days, you can lose no more than $50 if someone used your card or PIN without your permission.
If you do NOT tell us within two business days after you learn of the loss or theft of your card or PIN, and we can prove we could have stopped someone from using your card or PIN without your permission if you had told us, you could lose as much as $500.
If your statement shows transactions 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 can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (i.e. a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
Bank’s Liability For Failure To Make Transfers Or Permit Withdrawal Transactions: If we do no complete a transaction to or from your account on time or in the correct amount according to our agreement with you, and when properly instructed to do so by you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable for instance: a. If, through no fault of ours, you do not have enough money in your account to complete the transaction. b. If the transaction would go over the credit limit on your Check Credit account. c. If there is a dispute about the amount or we have been ordered to pay to or hold for someone else the money in your account. d. If a withdrawal would consist of money deposited in the form of a check or other order and not yet available for withdrawal. e. If, in the case of a preauthorized credit to your account, a third party does not send your money to us on time or does not send us the correct amount. f. If circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken.
There may be other exceptions stated in our agreement with you.
Disclosure of Account Information to Third Parties We will disclose limited information to third parties about your account or the transfers you make: a. to electronic banking networks where it is necessary for completing transfers b. to verify the existence and condition of your account for a third party, such as a credit bureau or merchant c. to comply with government agency or court orders d. if you give us your written permission
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