ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURES
This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving a deposit account at the Financial Institution. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfers. In this Agreement, the words "you" and "your" mean those who sign as applicant or any authorized user(s). The words "we", "us", and "our" means the Financial Institution.
Visa® Debit Card or ATM card
You may use your Visa® Debit Card or ATM card and personal identification number (PIN) to initiate transactions at ATMs of ours, ATMs within the networks identified on your card and such other facilities as we may designate from time to time. At present you may use your card to (some of these services may not be available at all ATMs):
Types of Transfers:
- Withdraw cash from your checking, savings or money market account.
- Transfer funds between your checking and savings accounts.
- Obtain balance information on your deposit accounts.
- Additionally, your card may be used to make third party transfers from your checking or NOW account through POS (point of sale) terminals.
- With your Visa® Debit Card make purchases from your checking, NOW or Money Market at merchants who accept VISA cards.
Limitations on Frequency and Amount:
- You may withdraw up to $500.00 per day from an ATM and make purchases up to $3,000 in goods and services each day with your Visa® Debit Card.
Fees and Charges for ATM Transactions or Visa® debit card transactions:
- There is no charge for ATM withdrawals at machines owned by us.
- There is no charge for Visa® Debit Card purchase.
- There is a $1.50 charge for each ATM withdrawal, balance inquiry, or transfer at machines we do not own.
- There is a $2.50 charge for ATM withdrawals, balance inquiry, or transfer outside the United States.
Foreign Automated Teller Usage Fee Disclosure: If you use your Visa® Debit Card or ATM card at an automated teller machine which is not owned by us (a "foreign ATM"), the operator of the foreign ATM and any national, regional, or local network utilized to effect the transaction may charge you a fee.
VISA International Service Assessment
VISA charges a fee for any international transaction completed with the use of a VISA branded card. These fees are passed directly to you by their inclusion in the transaction amount deducted from your account. The amount of the fee is determined by whether or not there is a currency conversion. The fee is .8% for transactions involving only a single currency or 1% for transactions involving multiple currencies.
For example: for a transaction conducted in Mexico, the fee would be .8% of the transaction amount if the entire transaction was conducted in U.S. dollars, but the fee would be 1% of the transaction amount if the transaction was converted into Pesos. VISA defines an international transaction as a transaction where the financial institution that issued the card is in a different country from the merchant that is accepting the card. This means that an Internet transaction could qualify as an international transaction.
Types of Pre-authorized Transfers:
You may arrange for us to complete the following pre-authorized transfers to your deposit accounts.
Fees and Charges:
- Accept direct deposits from your employer, U.S. Treasury Department or other financial institutions to your checking or savings account.
- Pay certain recurring bills from your checking or savings account.
- Other types of Funds Transfers - You authorize us to process Electronic Check Conversions, Electronic Payment or Returned Checks and Charges, and other Automated Clearing House transactions authorized by you and initiated by third parties.
- We do not charge for any pre-authorized EFTs.
- We will charge $30.00 for each stop-payment order.
In addition to the limitations set forth above, the following limitations may be applicable to your accounts:
Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your ATM or Visa® Debit Card or PIN has been lost or stolen. If you tell us within two (2) business days (4 days if your account was opened in Kansas) after you learn of a loss or theft of your card or PIN, you can lose a maximum of $50.00 if someone uses your card and/or code without your permission. If you do NOT tell us within two (2) business days (4 days if your account was opened in Kansas) after you learn of the loss or theft of your card or code, and we can prove that we could have stopped someone from using your card or code without your permission if you had told us, you could lose as much as $500.00 ($300.00 if your account was opened in Kansas). VISA rules limit your liability if you report a lost or stolen Visa® Debit Card. These limitations do not apply if you are grossly negligent, for instance, by writing your PIN on the card.
Also, if your statement shows any transfer that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after sixty (60) days if we can prove that we could have stopped someone from making the unauthorized transfers if you had told us in time. If you believe that your card or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write to us at the telephone number or address set forth below. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
If you believe your card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call; 1-866-868-1919 or write: Southern Commerce Bank, Card Management Dept., P.O. Box 26458, Kansas City, MO 64196.
Business Days. Our regular business days are Monday through Friday. Holidays are not included.
Right to Documentation
Periodic Statement. You will get a monthly account statement from us unless there are no transactions in a particular month. You will receive a monthly statement on all checking and money market accounts. You will receive a savings statement no less than quarterly; it will be received monthly if there are any Electronic Funds Transactions.
Terminal Receipt. You may receive a terminal receipt at the time you make any transaction at an ATM terminal.
Direct Deposits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company,
you can call us at 1-866-868-1919 to find out whether or not the deposit has been made.
Our 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:
- If, through no fault of ours, you do not have enough money in your account to make the transfer.
- If the ATM where you are making the transfer does not have enough cash.
- If the ATM was not working properly and you knew about the problem when you started the transaction.
- If circumstances beyond our control (such as fire, flood or power failure) prevent the transaction.
- If the money in your account is subject to legal process or other claim.
- If your account is frozen because of a delinquent loan.
- If there are other exceptions as established by us.
In case of Errors or Questions About Your Electronic Transfers. Telephone us at 1-866-868-1919 and press 0 to speak to a Customer Service Representative as soon as you can,
Monday - Friday, 9 a.m. - 8 p.m. ET and Saturday, 10 a.m. - 6 p.m. ET,
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 than sixty (60) days after we sent you the FIRST statement on which the problem or error appeared.
- Tell us your name and account number (if any).
- Describe the error or 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.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. You will not receive provisional credit until we receive your written complaint.
For ATM transactions, we are required by law to recredit your account within 10 days if we have not been able to complete our investigation. We will complete our investigation and advise you of the result or recredit your account within 20 days unless your account has been open 30 days or less. For point of sale transactions using your Visa® Debit Card, Visa® Operating Rules require us to recredit your account within 5 days if we have not been able to complete our investigation. If we credit your account for the amount in question, we reserve the right to reverse the credit should we determine after completion of our investigation that no error occurred. You will have complete use of any provisionally credited funds. Furthermore, should we determine that no error has occurred, you will be notified of the date and the amount of any debit we make to reverse the provisional credit. We will honor checks, drafts or similar paper instruments payable to third parties and preauthorized transfers from your account for 5 business days after transmittal of such reversal notice. If we determine that an error did occur, you will be notified that the provisional credit has been made final. In either event, we will complete
our investigation within 45 days if the transaction in question occurred at an ATM or within 90 days for a point of sale (Visa® Debit Card) transaction or an ATM transaction that was not initiated in the United States.
Account Information Disclosure. We will disclose information to third parties about your account or the transfers you make:
- As necessary to complete transfers;
- To verify the existence of sufficient funds to cover specific transactions upon the request of a third party, such as a credit bureau or merchant;
- To comply with government agency or court orders; or
- If you give us your written permission.
Personal Identification Number (PIN). The PIN issued to you is for your security purposes. The numbers are confidential and should not be disclosed to third parties or recorded on the card. You are responsible for safekeeping your PIN(s). You agree not to disclose or otherwise make your PIN available to anyone not authorized to sign on your accounts.
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 address specified in this Agreement. We reserve the right to change the terms and conditions upon which the 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.
Termination of ATM or Visa® Debit Card Services. You agree that we may terminate this Agreement and your use of the Visa® Debit Card or ATM card services, if:
- You or any authorized user of your card and PIN breach this or any other agreement with us;
- We have reason to believe that there has been an unauthorized use of your card and PIN;
- We notify you or any other party to your account that we have cancelled or will cancel this Agreement. You or any other party to your account can terminate this Agreement by notifying us in writing.
Termination of service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.
PRE-AUTHORIZED ELECTRONIC FUND TRANSFERS
Stop Payment Rights. If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of pre-authorized transfer from your account. You must notify us orally or in writing at any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do require the written confirmation, the oral stop payment shall cease to be binding fourteen (14) days after it has been made.
Notice of Varying Amounts. If these regular payments vary in amount, the person, or company you are going to pay is required to 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 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.
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 liable for your losses or damages.
Other Provisions. There may be a delay between the time a deposit is made and when it will be available for withdrawal. You should review our Funds Availability Policy to determine the availability of the funds deposited. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account.
E-SIGN DISCLOSURES FOR CREDIT, DEBIT, AND ATM CARDS
I/we: (a) understand and agree that I/we will make application for Southern Commerce Bank's Visa® Debit, or Visa® Credit, or ATM card (the card) using the electronic card application hosted on your web site (the application); and (b) authorize you to accept my/our electronic signature on all card-related documents I/we are obligated to sign just as if we had signed the application and such documents with manual signatures.
I/we represent and warrant to you that I/we have computer hardware and software that satisfies the following requirements: (a) an Internet browser capable of processing 128-bit encryption (such as Internet Explorer 7 or higher, Firefox 3 or higher, or Safari 4 or higher); (b) Adobe Reader version 9.1 or higher; and (c) a printer.
I/we understand and agree that all disclosures and documentation related to the card (the account documentation, such as the Account-opening Disclosure Statement and the related documents [as defined in the card agreement that sets forth my/our and your rights and obligations with respect to the card]) will be given to me/us in electronic form and will be sent to the email address I/we will provide in the application. I/we understand that I/we may change my/our email address by sending a letter containing my/our new email address to Southern Commerce Bank at P.O. Box 26458, Kansas City, MO 64196, attention Online Banking Department, and that such notice shall be effective not later than three (3) business days after you receive the notice.
I/we understand that I/we may obtain paper copies of account documentation if we request them by sending a letter to that effect to Southern Commerce Bank at P.O. Box 26458, Kansas City, MO 64196, attention Online Banking Department.
I/we understand that I/we may withdraw my/our consent to receive account documentation in electronic format by sending a letter to that effect to Southern Commerce Bank at P.O. Box 26458, Kansas City, MO 64196, attention Online Banking Department, and that such notice shall be effective not later than three (3) business days after you receive the notice.
I/we understand that if you receive my/our written notice to withdraw my/our consent to receive account documentation in electronic form, or my/our written request to receive paper copies of account documentation, you will provide all future account documentation in paper format.
By checking the "I Agree" box and pressing the button below, you will have electronically signed this agreement.