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ELECTRONIC FUNDS TRANSFERS
Your Rights and Responsibilities
This disclosure summarizes your rights and responsibilities under the Electronic Funds Transfer Act. Please note that business days are defined as Monday through Friday. Saturdays, Sundays, and Federal Holidays do not count as business days.
Types of Transactions
Automated Teller Machines
You can use your Peoples Bank & Trust electronic banking card at our ATMs to:
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Withdraw cash from your checking, savings, Money Market, and NOW accounts |
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Check the balance in your accounts |
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Make deposits to your Peoples Bank & Trust accounts |
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Transfer funds between your Peoples Bank & Trust accounts |
Pre-Authorized Transfers
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Payments. You can arrange to make certain bill and loan payments directly from your checking accounts |
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Direct Deposits. You can arrange to receive certain automatic deposits from Governmental agencies, businesses, or individuals to your checking and savings accounts. |
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Transfers within Peoples Bank & Trust. You can arrange predetermined automatic transfers of funds between accounts within Peoples Bank & Trust. |
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Telephone Transfers. You can phone in transfers between accounts within Peoples Bank & Trust. |
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Point-of-Sale Transactions. You can pay for purchases at businesses that accept the Peoples Bank & Trust electronic banking cards. |
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Automatic two way sweeps between deposit and loan accounts are available. |
Limitations on Transactions
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You may withdraw up to $200.00 per day if available in your account from an ATM. |
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You may use your Peoples Bank & Trust Visa Debit Card to purchase goods and services at a limit of $1,000.00 per day. Any POS transactions reduce the amount of cash available to you that day from an ATM. |
Documentation of Electronic Transactions
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ATM and Point-of-Sale transactions. You should receive a receipt of your transaction from the ATM or POS terminal. |
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Direct Deposits. These transactions will appear on your periodic account statements, or you may call 888.728.1954 to verify your deposit. |
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Periodic Statements. Statements will be sent to you monthly, either electronically or by mail, on checking and savings accounts with electronic transactions. |
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Pre-Authorized Payments. If the pre-authorized payments from your account vary in amount, the institution or individual you are paying will notify you 10 days prior to the payment. |
Your Liability for Unauthorized Transactions
It is your responsibility to notify the bank at once if you think your card or Personal Identification Number (PIN) has been lost or stolen. You could lose all of the money in your account plus all of the overdraft protection you have. If you tell us within two business days of discovering the loss, your losses will be limited to $50.00. If you do not tell us of your lost or stolen card within two business days, your losses could be as much as $500.00.
If yourstatement shows transactions you did not authorize, tell us at once. If you do not contact us within 60 days of the mailing date of your statement, you may not get any of the money back you lose after the 60 day period.
In Case of Errors or Questions About your Electronic Transactions
You may contact Peoples Bank & Trust at 888.728.1954 or mail us at PO Box 350 Pana, IL 62557.
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Tell us your name and account number. |
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Describe the error or transaction you are unsure about. |
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Tell us the dollar amount of the suspected error. |
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You must send the complaint to us in writing within 10 business days. |
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We will tell you the results of our investigation within 10 business days, 20 for foreign transactions. However, we may take up to 45 days to investigate your transaction, 90 days for foreign transactions. |
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Your account will be credited for the amount you think is in error within the above mentioned 10 or 20 days, but the funds will be removed if we find no error has occurred. |
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If we decide there is no error, we will send you a written notice within 3 days. |
Stop Payment of Pre-Authorized Transactions
You must notify us at least 3 business days in advance of the date a payment is scheduled to place a stop payment. If you call or send your request electronically, we will require your request signed and in writing within 14 days. You will be charged a fee for all stop payments.
If you order us to stop payment as listed above, and we do not, we will be liable for your actual losses or damages.
Our Liability for Failing to Make a Transfer
If the bank does not complete a payment or transfer on time or in the correct amount according to our agreement with you, we will only be liable to complete such transaction. Under no circumstances will the bank be liable for any damages that you may suffer, including consequential damages, due to our failure to complete a transaction. Specifically the bank will not be liable to any extent whatsoever if:
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Through no fault of the bank, you do not have sufficient funds in the account to complete the requested transaction, or if the account has been closed or is not in good standing, or if a payment is reversed due to insufficient funds. |
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Any payment or transfer would go over the credit limit for any account |
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Your equipment or ours was not working properly, and the breakdown should have been apparent to you when you attempted the transaction. |
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You have not given the bank complete, correct or current account information so that the transaction may be completed |
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You do not properly follow our instructions, or if you provide the bank with inaccurate information, or if you fail to correct or tell us about the inaccuracy when you became aware of it. |
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You did not instruct the bank soon enough for your payment or transfer to be completed by the due date. |
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The funds in the account from which the payment or transfer is to be made are subject to legal process or other claim |
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Circumstances or persons beyond our control prevent, delay, intercept or alter the transaction despite reasonable security precautions taken by the bank. |
Disclosure of your Account Information to Third Parties
We may disclose information to a third party for the following reasons:
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To complete a transaction |
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To investigate unauthorized transactions |
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Verify existence and condition of your account to a credit bureau |
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In response to government inquiries or court orders |
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If you give us written permission |
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