ELECTRONIC FUND TRANSFERS
YOUR RIGHTS AND RESPONSIBILITIES
Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for further reference.
Electronic Funds Transfer Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice an you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and bank information. This information can be found on you check as well as on a deposit or withdrawal slip. Thus, you should only provide you bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:
- Preauthorized credits. You may make arrangements for certain direct deposits to be accepted in your checking or savings account(s).
- Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking account(s).
- Electronic check conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.
- Electronic returned check charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.
ATM Transactions – types of transactions, dollar limitations, and charges – You may access your account(s) by ATM using your First Security Debit Card and personal identification number to:
- make deposits to checking account(s) with your Debit card
- get cash withdrawals from checking account(s) with your Debit card
– you may withdraw no more than $300.00 per business day
- get information about:
- the account balance of your checking account(s) with your Debit card
Some of these services may not be available at all terminals.
Types of Debit Card Point-of-Sale Transactions – You may access your checking account(s) to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.
Point-of-Sale Transactions – dollar limitations – Using your card:
- you may not exceed $1,500.00 in transactions per business day
Online Banking – Online banking gives you control over nearly every aspect of managing your First Security Trust and Savings Bank checking, savings, investment and loan accounts. It offers access to daily balances and detailed statements and transaction history. You can use Online Banking to:
- Transfer funds between your deposit accounts.
- Make payments from your deposit accounts to third parties pursuant to our Online Bill Payment Program and limits imposed on savings/money market accounts
- Get information about your accounts, such as account balances or information on deposits or withdrawals since the system was brought online
- Copies of monthly account statements for the past three months
- Secure e-mails via the Service’s messaging system
- View loan balances
- Payments to loans at FSTSB (upon request)
- Online check reorders
- Stop payments on checks you have written
- E-mail notifications/Text Alerts of select account activity
- Request copies of documents
- The following frequency and/or dollar limitations apply to transfers pursuant to our internet service; no more than $9,999.99 (per transaction) with a daily limit of $19,999.99 per day pursuant to our Online Bill Payment Program. We will have no obligation to carry out any transfers or payments unless there are sufficient funds in the pertinent deposit account(s).
Currency Conversion. If you effect a transaction with your MasterCard branded Debit Card in a currency other than US Dollar, MasterCard will convert the charge into a US Dollar amount. The MasterCard currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by MasterCard. The exchange rate MasterCard uses will be a rate in effect on the day the transaction is processed. This rate may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account.
Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purposes. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.
Please see your Debit Card Agreement for additional information relating to the use of your MasterCard branded Debit Card.
- We do not charge for direct deposits to any type of account
- We do not charge for preauthorized payments from any type of account.
- LOST Personal Identification Number (PIN)/CARD. If you lose your PIN or CARD there will be a $5.00 charge to issue a replacement.
Except as indicated elsewhere, we do not charge for these electronic funds transfers.
ATM Operator/Network 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).
- Terminal Transfer. You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less.
- 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 (708) 453-3131 to find out whether or not the deposit has been made.
- Periodic Statements. You will get a monthly account statement from us for your checking accounts. You will get a monthly account statement from us for your checking accounts.
- You will get a monthly account statement from us for your statement savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.
- For Passbook accounts, if the only possible electronic transfers to your account are preauthorized credits, we do not send periodic statements. You may bring your passbook to us and we will record any electronic deposits that were made since the last time you brought in your passbook. You will receive a monthly statement on any passbook accounts which contain other EFT activity.
- Right to stop payment and procedure 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 is how:
Call or write us at the telephone number or address listed in this disclosure 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.
- Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will 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.)
- Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 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.
FINANCIAL INSTITUTION’S LIABILITY
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 you have an overdraft line and the transfer would go over the credit limit.
- If the automated teller machine where you are making the transfer does not have enough cash.
- If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
- If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
- There may be other exceptions stated in our agreement with you.
We will disclose information to third parties about your account or the transfers you make:
- where it is necessary for completing transfers; or
- in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
- in order to comply with government agency or court orders; or
- as explained in the separate Privacy Disclosure.
(a) Consumer liability.
Generally. Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus any funds maintained in an Automated Transfer from Savings or ATS account). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code you can lose no more than $50 if someone used your card and /or code without your permission.
If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.
Also, if your statement shows transfers that you did not make, including those made by card, code or other means, 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 (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
- Additional Limits on Liability for MasterCard branded Debit Card, when used for point-of-sale transactions. You will not be liable for any unauthorized transactions using your MasterCard Debit Card if: (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, and (ii) upon becoming aware of a loss or theft, you promptly report the loss or theft to us. MasterCard is a registered trademark of MasterCard International Incorporated.,
- (b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call or write us the telephone number or address listed in this disclosure. You should also call the number or write to the address listed in this disclosure if you believe a transfer has been made using the information from your check without your permission.
ERROR RESOLUTION NOTICE
In Case of Error or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this disclosure, 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 than 60 days after we sent 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 10 business days.
We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days the transfer involved a new account) 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 credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.
You make ask for copies of documents that we used in our investigation
FIRST SECURITY TRUST AND SAVINGS BANK
7315 W. GRAND AVENUE
ELMWOOD PARK, ILLINOIS 60707-1996
PHONE: (708) 453-3131
NON-BANKING HOURS CALL: (800) 264-4274