Mount Vernon Bank
P.O. Box 215, Mount Vernon, GA 30445
IMPORTANT INFORMATION For our customers who have authorized electronic fund transfers.
The Federal Electronic Fund Transfer Act and regulations adopted there under provide that we disclose pertinent information about the preauthorized deposits to - and if applicable, preauthorized transfers from your account with us.
I. DOCUMENTATION OF TRANSFERS
A. 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 the phone number listed for any authorized, to find out whether or not the deposit has been made.
B. You will receive a monthly statement from us, unless there are no transfers in a particular month. In any case you will get a statement from us at least quarterly
C. If you have a passbook account where the only possible electronic funds transfers are preauthorized credits, you may bring your passbook to us and we will record any electronic deposits that were made to your account since the last time you brought in your passbook.
II. RIGHT TO STOP-PAYMENT
If you have told us in advance to make a regular payment out of your account, you can stop any of these payments. Here's how: Call us at the phone number given or write to the address given for any authorized, 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. If you order us to stop one of these payments 3 business days or more before the payment is scheduled and we do not do so, we will be liable for your losses or damages. We will charge you $28.00 for each stop payment order you give.
III. NOTICE OF TRANSFERS VARYING IN AMOUNT
If the preauthorized regular transfers from your account may vary in amount the person you are going to pay should 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.
IV. DISCLOSURES WHICH APPLY TO ALL ELECTRONIC FUND TRANSFERS
A. PERIODIC STATEMENTS:
CHECKING: You will get a monthly account statement.
SAVINGS: You will get a quarterly account statement.
B. ACCOUNT INFORMATION DISCLOSURE:
We will disclose information about your account or the transfers you make:
1. Where it is necessary to complete transfers, or
2. In order to verify the existence or condition of your account for a third party, such as a credit bureau or a merchant or
3. In order to comply with government agency or court order, or some similar reason,
4. If you give us your written permission.
C. 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, if any.
3. If your account is frozen because of a court order or some similar reason.
4. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
5. There may be other exceptions stated in our agreement with you.
D. ERROR RESOLUTION PROCEDURES
In Case Of Errors Questions About Your Electronic Transfers:
Telephone us or write us at the phone number or address given below, 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 that 60 days after we sent you 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 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.
4. If you tell us orally, we may require you send us your complaint or question in writing within 10 business days.
A. ERROR RESOLUTION NOTICE We will determine whether an error occurred within 10 business days after we hear from you and we will correct any error promptly . If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this we will credit your account within 10 business days 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 you 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 3 business days after completing our investigation. If we decide that there was no error we will send you a written explanation.
B. EXTENSION OF TIME PERIOD - NEW ACCOUNTS The time periods noted above
are extended as follows:
(i) The applicable time is 20 business days in place of 10 business days if the notice of error involves an electronic fund transfer to or from the account within 30 days after the first deposit to the account was made.
(ii) The applicable time is 90 days in place of 45 days of investigation. If a notice of error involves an electronic fund transfer that:
(A) Was not initiated within a state,
(B) Resulted from a point-of-sale debit card transaction; or
(C) Occurred within 30 days after the first deposit to the account was made.
You may ask for copies of the documents that we used in our investigation.
V. CUSTOMER LIABILITY
If your statement shows unauthorized transfers from your account, tell us at once. If you do not tell us within 60 days after we sent you the FIRST statement upon which the problem appeared, 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.
VI. TYPES OF TRANSFERS AVAILABLE
1. Automated Teller Machine Transfers
2. Direct Deposits or withdrawals of funds
3. Transfer initiated by telephone
4. Point-of-Sale Transfers
VII. AUTOMATED TELLER MACHINE TRANSFER DISCLOSURES
A. ACCESSING YOUR ACCOUNT
For any authorized account, you may use your card to
1. Withdraw cash from your checking or savings account
2. Make deposits to your checking or savings account.
3. Transfer funds between your checking and savings whenever you request.
4. Pay for purchases at places that have agreed to accept the card.
5. Obtain balance information on deposit account.
6. Make a loan payment from deposit account.
B. 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.
Some of these services may not be available at all terminals.
C. LIMITATIONS ON DOLLAR AMOUNTS OF TRANSFERS
1. You may withdraw up to $300 from our terminals each day.
2. You may buy up to $1000 worth of goods or services each day.
D. ATM FEE BY OTHERS: If you use an ATM that is not operated by this institution, the operator of the machine and/or an automated transfer network may charge you a fee, this amount is in addition to any fees we may charge.
E. RECEIPT FOR TRANSACTION
You will receive a written receipt at the time you make any transfers to or from your account using one of our automated teller machines, or point-of-sale terminals.
F. CUSTOMER LIABILITY
1. Tell us AT ONCE if you believe your card has been lost or stolen.. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account. If you tell us within 2 business days, you can lose no more than $50 if someone used your card without permission.
2. If you do NOT tell us within 2 business days after you learn of the loss or theft of your card, and we can prove we could have stopped someone from using your card without your permission if you had told us, you could lose as much as $500.
3. Also, if your statement shows transfers 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.
4. If a good reason (such as a long trip or hospital stay) kept you from telling us we will extend the time periods.
Master Card Customer Liability Disclosure
We use the Master Card branded debit card. Your liability for unauthorized use of your debit card will be $0 for any Master Card debit transaction (that is the ones for which you sign or do not otherwise use a PIN) or any PIN transaction processed by Master Card (Maestro and Cirrus transactions) will be:
a) you report the unauthorized use;
b) you have exercised reasonable care in safeguarding your card from risk of loss or theft;
c) you have not reported two or more incidents of unauthorized use to us in the immediately preceding 12 month period; and
d) your account is in good standing.
If you do not meet these conditions and you report the unauthorized use, your liability for the unauthorized transaction will be no more than $50.
G. HOW TO CONTACT US
If you believe that your card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission , or if for any reason you wish to contact us, telephone us at the number given below or write us at the address given below.
H. MAILING ADDRESS, TELEPHONE NUMBER, AND BUSINESS DAY DISCLOSURE
- Our mailing address is:
MOUNT VERNON BANK, P.O. BOX 215, MOUNT VERNON, GA 30455 - Our phone number is:
- 912-583-2225
- Our business days are Monday thru Friday. Holidays are not included.
