EFT AgreementInformation about electronic funds transfersCORNERBANK, N.A. ELECTRONIC FUND TRANSFER AGREEMENT AND DISCLOSURE THIS DISCLOSURE IS APPLICABLE TO CONSUMER ACCOUNTS ONLY For purposes of this disclosure and agreement the terms "we", "us" and "our" refer to the Bank named above. The terms "you" and "your" refer to the recipient of this disclosure and agreement. The Electronic Fund Transfer Act and Regulation E require Banks to provide certain information to customers regarding electronic fund transfers (EFTs). This disclosure applies to any EFT service you receive from us related to an account established primarily for personal, family or household purposes. Examples of EFT services include direct deposits to your account, automatic regular payments made from your account to a third party and one-time electronic payments from your account using information from your check to pay for purchases or to pay bills. This disclosure also applies to the use of your ATM CASHCARD or VISA CHECKCARD at automated teller machines (ATMs) and any networks described below. TERMS AND CONDITIONS. The following provisions govern the use of electronic fund transfer (EFT) services through accounts held by the Bank which are established primarily for personal, family or household purposes. If you use any EFT services provided, you agree to be bound by the applicable terms and conditions listed below. Please read this document carefully and retain it for future reference. ELECTRONIC FUND TRANSFER SERVICES PROVIDED SERVICES PROVIDED THROUGH USE OF ATM CASHCARD OR VISA CHECKCARD USING YOUR CARD AND PERSONAL IDENTIFICATION NUMBER ("PIN"). In order to assist us in maintaining the security of your account and the terminals, the ATM CASHCARD or VISA CHECKCARD remains our property and may be revoked or canceled at any' time without giving you prior notice. You agree not to use your ATM CASHCARD or VISA CHECKCARD for a transaction that would cause your account balance to go below zero, or to access an account that is no longer available or lacks sufficient funds to complete the transaction. We will not be required to complete any such transaction, but if we do, we may, at our sole discretion, charge or credit the transaction to another account, and you do agree to pay us the amount of the improper withdrawal or transfer upon request. Your ATM CASHCARD may only be used with your PIN. Certain transactions involving your VISA CHECKCARD require use of your PIN. Your PIN is used to identify you as an authorized user. Because the PIN is used for identification purposes, you agree to notify the Bank immediately if your ATM CASHCARD or VISA CHECKCARD is lost or if the secrecy of your PIN is compromised. You also agree not to reveal your PIN to any person not authorized by you to use your ATM CASHCARD or VISA CHECKCARD or to write your PIN on your ATM CASHCARD or VISA CHECKCARD or on any other item kept with your ATM CASHCARD or VISA CHECKCARD. We have the right to refuse a transaction on your account when your ATM CASHCARD or VISA CHECKCARD or PIN has been reported lost or stolen or when we reasonably believe there is unusual activity on your account. The security of your account depends upon your maintaining possession of your ATM CASHCARD or VISA CHECKCARD and the secrecy of your PIN. You may change your PIN if you feel that the secrecy of your PIN has been compromised. You may change your PIN by customer request at most CornerBank locations. Identification of account holder is required. ATM SERVICES ATM CASHCARD SERVICES. The services available through use of your ATM CASHCARD are described below. You may withdraw cash from your checking account(s), savings account(s), money market account(s), and NOW account(s). You may make deposits into your checking account(s), savings account(s), money market account(s), and NOW account(s). You may transfer funds between your checking and savings accounts, checking and money market accounts, checking and NOW accounts, savings and money market accounts, savings and NOW accounts, and NOW accounts and money market accounts. You may make balance inquiries on your checking account(s), savings account(s), money market account(s), and NOW account(s). VISA CHECKCARD SERVICES. The services available through use of your VISA CHECKCARD are described below. You may withdraw cash from your checking account(s), savings account(s), money market account(s), and NOW account(s). You may make deposits into your checking account(s), savings account(s), money market account(s), and NOW account(s). You may transfer funds between your checking and savings accounts, checking and money market accounts, checking and NOW accounts, savings and money market accounts, savings and NOW accounts, and NOW accounts and money market accounts. You may make balance inquiries on your checking account(s), savings account(s), money market account(s), and NOW account(s). NETWORK. Your ability to perform the transactions or access the accounts set forth above depends on the location and type of ATM you are using and the network through which the transaction is being performed. A specific ATM or network may not perform or permit all of the above transactions. For example, you may not be able to make deposits or transfer funds at ATMs located out of state. Besides being able to use your ATM CASHCARD or VISA CHECKCARD at our ATM terminals, you may access your accounts through the following networks: CIRRUS, AND STAR. ATM 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. POINT OF SALE TRANSACTIONS In addition, your VISA CHECKCARD may be used at any merchant that accepts Visa® debit cards for the purchase of goods and services. Your card may also be used to obtain cash from your designated account at participating financial institutions. Each time you use your ATM CASHCARD or VISA CHECKCARD, the amount of the transaction will be debited from your designated account. We have the right to return any check or other item drawn against your account to ensure there are funds available to pay for the ATM CASHCARD or VISA CHECKCARD transactions. We may, but do not have to, allow transactions which exceed your available account balance or available overdraft protection. If we do, you agree to pay the overdraft. You also agree to pay overdraft charges in effect from time to time for each transaction which causes your available account balance or available overdraft protection to be exceeded. CURRENCY CONVERSION - Visa®. When you use your card with the Visa® logo at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is a rate selected by Visa® from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa® itself receives, or the government-mandated rate in effect for the applicable central processing date, in each instance, plus or minus any adjustment determined by the issuer. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date. IMPORTANT ADDITIONAL FEE NOTICE: Visa charges an International Service Assessment Fee on all international transactions. Therefore, you will be charged 1.000% of the dollar amount of the transaction for each international transaction completed with your Visa® card when the country of the merchant or machine is different than your country as cardholder. SERVICES PROVIDED THROUGH USE OF 24 HOUR BANKLINE You may initiate transfers of funds between your checking and savings accounts, checking and money market accounts, checking and NOW accounts, savings and money market accounts, savings and NOW accounts, and NOW accounts and money market accounts. You may make balance inquiries on your checking account(s), savings account(s), money market account(s), and NOW account(s). You may change your PIN via the telephone. PREAUTHORIZED TRANSFER SERVICES SERVICES PROVIDED THROUGH USE OF ONLINE INTERNET BANKING Free 24-hour access to your CornerBank accounts. Open accounts; apply for loans or credit cards online. Electronic bill payment is free with your checking account. If Electronic bill payment is not used to pay at least one bill after 90 days there will be a fee of $3.00 per month. Restrictions apply for savings and money market accounts. View your check images, including endorsements. Make funds transfers between accounts that will post the same business day if made before 6:00 p.m. CT. www.cornerbanks.com ELECTRONIC CHECK CONVERSION LIMITATIONS ON TRANSACTIONS TRANSACTION LIMITATIONS - ATM CASHCARD POINT OF SALE LIMITATIONS - You may buy up to $500.00 worth of goods or services in any one day through use of our Point of Sale service. TRANSACTION LIMITATIONS - VISA CHECKCARD POINT OF SALE LIMITATIONS - You may buy up to $2,500.00 worth of goods or services in any one day through use of our Point of Sale service. OTHER LIMITATIONS We reserve the right to impose limitations for security purposes at any time. LIMITS ON TRANSFERS FROM CERTAIN ACCOUNTS. Federal regulation limits the number of telephone transfers and preauthorized electronic transfers to third parties (including Point of Sale transactions) from money market and savings type accounts. You are limited to six such transfers from each money market and/or savings type account(s) you have each month for purposes of making a payment to a third party or by use of a telephone. No more than three of the six transfers may be made by check, draft, debit card, or similar order. NOTICE OF RIGHTS AND RESPONSIBILITIES The use of any electronic fund transfer services described in this document creates certain rights and responsibilities regarding these services as described below. RIGHT TO RECEIVE DOCUMENTATION OF YOUR TRANSFERS PERIODIC STATEMENTS. If your account is subject to receiving a monthly statement, all EFT transactions will be reported on it. If your account is subject to receiving a statement less frequently than monthly, then you will continue to receive your statement on that cycle, unless there are EFT transactions, in which case you will receive a monthly statement. In any case you will receive your statement at least quarterly. PREAUTHORIZED DEPOSITS. 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 620-221-1650 to find out whether or not the deposit has been made. RIGHTS REGARDING PREAUTHORIZED TRANSFERS RIGHTS AND PROCEDURES TO STOP PAYMENTS. If you have instructed us to make regular preauthorized transfers out of your account, you may stop any of the payments. To stop a payment, We must receive your call or written request at least three (3) business days prior to the scheduled payment. If you call, please have the following information ready: your account number, the date the transfer is to take place, to whom the transfer is being made and the amount of the scheduled transfer. If you call, we will require you to put your request in writing and deliver it to us within fourteen (14) days after you call. NOTICE OF VARYING AMOUNTS. If you have arranged for automatic periodic payments to be deducted from your checking or savings account and these payments vary in amount, you will be notified by the person or company you are going to pay ten days prior to the payment date of the amount to be deducted. 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. OUR LIABILITY FOR FAILURE TO STOP PREAUTHORIZED TRANSFER PAYMENTS. If you order us to stop one of the payments and have provided us with the information we need at least three (3) business days prior to the scheduled transfer, and we do not stop the transfer, we will be liable for your losses or damages. YOUR RESPONSIBILITY TO NOTIFY US OF LOSS OR THEFT If you believe your ATM CASHCARD or VISA CHECKCARD or PIN or internet banking access code has been lost or stolen, call us at: You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission. CONSUMER LIABILITY FOR CARDS. If someone uses your ATM CASHCARD or VISA CHECKCARD without your permission, your liability will not exceed $50.00 if you notify us within four (4) business days after learning of the loss or theft of the ATM CASHCARD or VISA CHECKCARD If you fail to notify us within this time frame, you can lose as much as $300.00. FOR UNAUTHORIZED TRANSFERS. If your statement shows transfers you did not make, including those made by card, code, or other means, tell us at once. If you do not tell us within sixty (60) days after the periodic statement or receipt was mailed to you, you may not receive back any of the money you lost after the sixty (60) days, and therefore, you could lose all the money in your account (plus your maximum overdraft line of credit, if applicable), if we can prove that we could have stopped someone from taking the money had you given us notice in time. If a good reason (such as a long trip or hospital stay) keeps you from giving the notice, we will extend the time period. CONSUMER LIABILITY FOR UNAUTHORIZED TRANSACTIONS INVOLVING VISA CHECKCARD If you notify us about an unauthorized transaction involving your VISA CHECKCARD, and the unauthorized transaction took place on the Visa® Network, zero liability will be imposed on you for the unauthorized transaction. We may increase the limit of your liability for such unauthorized transactions if we reasonably determine, based on substantial evidence, that you were grossly negligent or fraudulent in the handling of your account or your VISA CHECKCARD. The zero liability provisions do not apply to PIN-based transactions not processed by the Visa® Network, including ATM transactions. Your liability for unauthorized transactions with your VISA CHECKCARD that involve PIN-based transactions not processed by the Visa® Network, including ATM transactions, are described under "Consumer Liability" above. ILLEGAL USE OF VISA CHECKCARD. You agree not to use your VISA CHECKCARD for any illegal transactions, including internet gambling and similar activities. IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR TRANSACTIONS call us at: or write to: or use the current information on your most recent account statement. Notification should be made as soon as possible if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. You must contact the Bank no later than 60 days after it sent you the first statement on which the problem or error appears. You must be prepared to provide the following information:
If you provide oral notice, you will be required to send in your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days (twenty (20) business days for new accounts) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days (ninety (90) days for new accounts and foreign initiated or point of sale transfers) to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days (twenty business (20) days for new accounts) for the amount which you think is in error, so that you will have the use of the money during the time it takes to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. The extended time periods for new accounts apply to all electronic fund transfers that occur within the first thirty (30) days after the first deposit to the account is made, including those for foreign initiated or point of sale transactions. Visa's® cardholder protection policy requires that we provide provisional credit for losses from unauthorized Visa® Check Card use within five (5) business days of notification of the loss. We will tell you the results within three (3) 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. LIABILITY FOR FAILURE TO COMPLETE TRANSACTION
CHARGES FOR TRANSFERS OR THE RIGHT TO MAKE TRANSFERS
DEFINITION OF BUSINESS DAY AMENDING OR TERMINATING THE AGREEMENT NOTICE OF ATM SAFETY PRECAUTIONS
ADDITIONAL PROVISIONS Your account is also governed by the terms and conditions of other applicable agreements between you and the Bank. You agree not to reveal your PIN to any person not authorized by you to access your account. |
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