Rights and Responsibilities
Indicated below are types of Electronic Fund Transfers
we are capable of handling, some of which may 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 future reference.
of Transfers and Limitations
You have arranged for us to accept certain direct deposits
and/or pay certain recurring bills from your account.
Transfers from a money market deposit account are limited
to 6 pre-authorized, automatic or third-party transfers
per monthly statement cycle. Transfers from a savings
account to another account or to third parties by pre-authorized
or automatic transfer are limited to 6 per monthly statement
You can purchase goods or pay for services and authorize
a merchant to convert your check into electronic funds
transfer. You may also be asked to authorize the merchant
to electronically collect a charge in the event the
check is returned for insufficient funds. Paying such
a fee electronically is an electronic funds transfer.
Your authorization to make these types of electronic
funds transfers may be expressed in writing or implied
through the posting of a sign.
We do not charge for direct deposits to any type of
account. We do not charge for preauthorized withdrawals
from any type of account, unless you exceed the transfer
restrictions on the money market account and/or savings
account. Then there will be a charge of $5.00 per excessive
Stop Payment Procedure & Notice of Varying
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,
Simply call or write us in time for us to receive
your request 3 business days or more before the withdrawal
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 your call.
of varying amounts. If these regular payments may
vary, 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).
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.
Disclosure of Account Information to Third Parties.
will disclose information to third parties regarding
your account or the transfers you make:
it is necessary for completing transfers,
in order to verify the existence and condition of
your account for a third party, such as a credit
bureau or merchant,
in order to comply with a governmental agency or
court orders, or
Transfers. Liability disclosures.
If your statement shows transfers that you did not make
or authorize, 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 period.
Address and telephone number. If you believe that
someone has transferred or may transfer funds from your
account without your permission, call us at (325) 365-2525
or write to us at P. 0. Box 680, Ballinger, TX 7682I.
In case of errors or questions about your electronic transfers,
call or write us as soon as possible 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
you the FIRST statement on which the error or problem
appeared. Include in the correspondence the following
information: ( 1 ) Your name and account number (if any),
( 2 ) describe the error/transfer you are unsure about
and explain why you believe it is in error and why you
need more information and ( 3 ) dollar amount of the suspected
If you contact us orally, we may require that you send
us your complaint or questions in writing within 10 business
days. We will tell you the result of our investigation
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 if the transfer involved
a new account, a point-of-sale transaction or foreign-initiated
transfer) to investigate your complaint or questions.
If we decide to do this, we will credit your account within
10 business days (20 business days if the transfer involved
a new account) for the amount you think is in error, so
that you 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. If we decide that there was no error, we
will send you a written explanation within 3 business
days after we finish our investigation. You may ask for
copies of the documents that we used in our investigation.
Liability for Failure to Make Transfers.
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
If through no fault of ours, you do not have the funds
available in your account to make the transfer.
If the transfer would go over the credit limit on your
circumstances beyond our control (such as flood or fire)
prevent the transfer despite reasonable precautions
that we have taken.
may be other exceptions stated in our agreement.