The Electronic Fund Transfers we are capable of handling for consumers are indicated below, some of which may not apply to your account. Some of these may not be available at all terminals. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.
Types of Transfers, Frequency and Dollar Limitations
- Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking and/or savings account(s).
- Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking and/or savings accounts(s).
You may access your account(s) by telephone at 1-877-874-3529 or locally at 936-591-8149 using a touch tone phone, your telephone ID, and PIN to:
- Transfer Funds between checking and savings accounts
- Make payments from checking to loan accounts with us
- Get checking account(s) information
- Get Savings account(s) information
- Get Certificate account(s) information
- Get Loan account(s) information
You may access your account by ATM using your ATM card and personal identification number to:
- Get cash withdrawals from checking accounts up to $500 per day
- Get checking account information
Using your card:
- You may access your checking account(s) to purchase goods in person, pay for services in person, get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything you can do with a credit card.
- You may not exceed more than $750 in transactions per day.
In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:
- Transfers from a Money Market Deposit account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to 6 per statement cycle. See new account representative for full disclosures that may apply
- Transfers from a Statement Savings account to another account or to third parties by reauthorized or automatic transfer are limited to 6 per statement cycle by electronic ACH to 3rd parties.
- We do not charge for direct deposit or preauthorized payments from any type of account.
- There is a charge of $1.00 per withdrawal at ATMs we do not own or operate.
Except as indicated above, we do not charge for Electronic Fund Transfers.
ATM Operator/Network Fees: When you use an 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 Transfers. You can get a receipt at the time you make any transfer to or from your account using one of our terminals.
- 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 the telephone number listed below to find out whether or not the deposit has been made.
- In addition, you will get a monthly account statement from us, unless there are no transfers in a particular month. In any case you will get a statement at least quarterly. You will get a quarterly statement from us on your savings account if the only possible electronic transfer to or from the account is a preauthorized transfer.
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's 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.
We charge $25.00 for each stop payment.
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 the transfer would go over the credit limit on your overdraft line.
- 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 if you give us written permission; or as explained in the separate Privacy Disclosure.
Consumer Liability. Tell us at once if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission. Also, 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, 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 long trip or hospital stay) kept you from telling us, we will extend the time period.
Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed at the end of this disclosure.
Error Resolution Notice
In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed below, 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 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 (5 business days if involving a Visa. transaction or 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 a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days if involving a Visa transaction or 20 business days if 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. An account is considered a new account for 30 days after the first deposit is made, if you are a new customer.
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 may ask for copies of the documents that we used in our investigation.
Shelby Savings Bank
111 Selma St
Center, Texas 75935