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Wednesday, September 08, 2010 |
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Disclosures
Annual Non-Visa Debit Transaction Disclosure & Change in Terms Notification (eff. 7/1/10) |
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ANNUAL NON-VISA DEBIT TRANSACTION PROCESSING DISCLOSURE
We have enabled non-Visa debit transaction processing. This means you may use your Visa Check Card on a PIN-Debit Network without using a PIN, (Visa Rules generally define “PIN Debit Network” – as a non-Visa debit network that typically authenticates transactions by use of a personal identification number, or “PIN”, but that is not generally known for having a card program.) Some examples of non-Visa debit network(s) for which such transactions are enabled include: NYCE, STAR, ACCEL/Exchange, and PULSE.
Examples of the types of actions that you may be required to make to initiate a Visa transaction on your Check Card include: signing a receipt, providing a card number over the phone or via the Internet, or swiping the card through a point-of-sale terminal.
Examples of types of actions you may be required to make to initiate a transaction on a PIN-Debit Network include; initiating a payment directly with the biller (possibly via telephone, Internet, or kiosk locations), responding to a logo displayed at a payment site and choosing to direct payment through that network, and having your identity verified using known information derived from an existing relationship with you instead of through the use of a PIN.
The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa’s zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network
CHANGE IN TERMS NOTIFICATION
Effective July 01, 2010
Please review the information contained in this document. Due to regulatory changes involving ATM and one-time debit card transactions the “Terms and Conditions” and “Truth-in-Savings” sections of your account disclosure were amended.
Terms and Conditions
Overdraft Items – If a check you write, or any other item you have authorized for payment from your account (which includes all orders and instructions for the payment, transfer, or withdrawal of funds from your account, such as a substitute check, image replacement document, electronic item (such as an ACH, ATM, or check card transaction), preauthorized payment, automatic transfer, telephone-initiated transfer, internet online banking transfer or bill payment instruction, withdrawal slip and in-person payment, transfer or withdrawal instruction) (collectively, an "Authorized Item") is presented for payment against your account, or if we receive notice of such check or Authorized Item, and there are not sufficient available funds in your account (due to insufficient funds, uncollected funds or otherwise) to pay the check or Authorized Item, the check or Authorized Item becomes an "Overdraft Item."
We may, without notice to you and in our sole discretion, either return or decline the Overdraft Item or pay the Overdraft Item and overdraw your account. If we pay the Overdraft Item, or if we return the Overdraft Item, you may incur an Overdraft Item Fee as stated in the “Other Fees & Charges” section of these Terms and Conditions. However, if the Overdraft Item consists of an ATM or one-time debit transaction using either an ATM Card or Check Card, whether we pay it and overdraw your account or decline it, we will not charge you an Overdraft Item fee.
You agree to repay us immediately for the amount of the Overdraft Item we have paid, plus any applicable Overdraft Item Fee. We may use deposits you or others make to your account to pay any Overdraft Item and any Overdraft Item Fee you owe us. If we pay an Overdraft Item by overdrawing your account on one or more occasions, we are not obligated to continue paying any future Overdraft Item, and we may stop paying your Overdraft Items and return them unpaid without notice to you. You are encouraged to keep good records and practice good account management.
Truth-in-Savings
Fees & Charges
Overdraft Items
Insufficient Funds
Each ATM or one-time debit card transaction using an ATM Card or Check Card – No charge
Each paid or returned check, in-person withdrawal, recurring ATM card or check card payment, preauthorized automatic debit, telephone transfer, any other debit item or other electronic means – $35.00 each (maximum of 4 charges per account per day)
HSA Convenience Checking – No charge
Uncollected Funds
Each ATM or one-time debit card transaction using an ATM Card or Check Card – No charge
Each paid or returned check, in-person withdrawal, recurring ATM card or check card payment, preauthorized automatic debit, telephone transfer, any other debit item or other electronic means – $35.00 each (maximum of 4 charges per account per day)
HSA Convenience Checking – No charge
Rev 07/10
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| This page was retrieved at 4:34:08 PM on September 8, 2010 |
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