ELECTRONIC FUND TRANSFERS FOR CONSUMER ACCOUNTS
YOUR RIGHTS AND RESPONSIBILITIES
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
A. Prearranged Transfers
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 account(s).
B. ATM Transfers. You may access your account(s) by ATM using your Heritage Bank Debit Card and personal identification number to:
- Make deposits to checking accounts at any ATM that accepts deposits
- Make deposits to savings accounts at any ATM that accepts deposits
- Get cash withdrawals from checking accounts (you may withdraw no more than $1,000.00 per day)
- Get cash withdrawals from savings accounts (you may withdraw no more than $1,000.00 per day)
- Transfer funds from savings to checking
- Transfer funds from checking to savings
- Get checking account(s) information
- Get savings account(s) information
The balance available for ATM withdrawals & transfers includes current account balance plus pre-authorized transfers from other accounts, Ready Reserve and/or other loans.
C. Point-Of-Sale Transactions (This applies to Consumer Checking Accounts only)
Using your card:
You may access your checking account to purchase goods (in person, by phone, by computer), pay for services (in person, by phone, by computer), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.
Make up to $1,000.00 in PIN based purchases per day.
Make up to $500.00 in signature based or online purchases per day.
The balance available for Point of Sale transactions includes current account balance plus pre-authorized transfers from other accounts, Ready Reserve and/or other loans.
D. Computer/Mobile Banking Transactions. You may access your account(s) by computer and/or mobile device at heritagebankna.com and using your account numbers, or access ID and password to:
- Transfer funds from checking to savings
- Transfer funds from savings to checking
- Make payments from checking to loan accounts with us
- Make payments from savings to loan accounts with us
- Make online bill payments
- Get checking account(s) information
- Get savings account(s) information
- Transfer funds between eligible accounts
E. Electronic Funds Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic funds transfers between your account and the third party’s account. These transfers to make or receive payments 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 and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice with a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and financial institution information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your financial institution 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.
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 Transfers. You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines (ATMs) or point-of-sale 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 (800) 344-7048 to find out whether or not the deposit has been made.
- In addition,
- You will get a monthly or semi-annual account statement from us, depending on the account you have selected
- You will get a monthly statement from us on your savings account if the only possible electronic transfer to or from the account is a preauthorized credit
TIME NEEDED TO COMPLETE TERMINAL TRANSACTIONS
- Withdrawals made at a terminal will normally be completed and charged to your account the same business day if completed prior to 7:00 PM
- Deposits made at a terminal owned by us will normally be credited to your account the same business day if completed prior to 7:00 PM
- Transfers between accounts will normally be completed the same business day if completed prior to 7:00 PM
REVERSAL OF POINT-OF-SALE TRANSACTIONS (This applies to Consumer Checking Accounts only)
You cannot reverse a point-of-sale transaction.
Payment for goods and services in this manner shall not affect any of the rights, protections, or liabilities in existing law concerning a cash or credit sale made by means other than through the use of a terminal.
- 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 us at (800) 344-7048, or write to us at Heritage Bank, ATTN: Deposit Services, P.O. Box 1124, Willmar, MN 56201 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 your call. Stop payment charge is $35.00 per item.
- 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;
- Refer to separate Privacy Disclosure for more detail.
Consumer Liability. 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 of the money in your account (plus your maximum line of credit). We will be liable for all unauthorized transfers unless the unauthorized transfer was due to the loss or theft of your card and/or code. If due to the loss or theft of your card and/or code, you notify us within 60 days of when the unauthorized transfer appears on the statement, you can lose no more than $50 if someone used your card and/or code without permission.
If you do NOT notify us within 60 days after the unauthorized transfer appears on your statement, and we can prove that we could have stopped someone from using your card and/or code without your permission if you had told us within 2 days of when you discover the loss or theft of your card and/or code, you could lose as much as $500 for unauthorized transfers that appear on the statement.
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 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 may extend the time periods.
MasterCard Debit Card. (Not applicable with Heritage Direct Savings or Jumbo Deposit Accounts) You will not be liable for any unauthorized transactions using your MasterCard debit card, when used for point-of-sale transactions, if:
- You can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, and
- Upon becoming aware of a loss or theft, you promptly report the loss or theft to us.
If any of these conditions are not met, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. “Unauthorized use” means the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number (PIN) which are not processed by MasterCard. MasterCard us a registered trademark of MasterCard International Incorporated.
Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call us at (800) 344-7048, write to us at Heritage Bank, ATTN: Deposit Services, P.O. Box 1124, Willmar, MN 56201, or login to Online Banking at heritagebankna.com and submit a secure contact form as soon as you can. You should also contact us if you believe a transfer has been made using the information from your check without permission.
RIGHT TO BRING CIVIL ACTION
You may bring civil action against any person violating any provision of Minnesota Statutes 47.69 (governing consumer privacy and unauthorized withdrawals.) If you prevail in such an action, you may recover the greater of your actual damages or $500.00. You may also be entitled to recover punitive damages, your court costs, and reasonable attorney’s fees.
You agree that you will not reveal your online access information to any person not authorized by you to use it and will not leave your computer terminal unattended after you have logged in using your online access or other confidential information.
Business Days: Our business days are Monday through Friday, excluding Federal Holidays.
Notices: All notices from us will be effective when we have mailed them or delivered them to you electronically to your last known address on our records. Notices from you will be effective when we receive the notice via our website, the address shown in this Agreement, or at our telephone number. We may change the terms and conditions for any EFT service. We will notify you at least twenty one (21) days before the effective date of any change, as required by law. Use of EFT service is governed by the Electronic Funds Transfer Act and any future changes to those regulations.
Enforcement: If you or we bring a legal action to enforce this Agreement or to collect amounts owing as a result of any Account transaction, the party who wins may receive reasonable attorneys’ fees and costs, including fees on any appeal, to the extent allowed by law.
Cancellation of Online Banking: You agree that we may cancel this Agreement and your use of Online Banking, if:
- You breach this or any other agreement with us;
- We have reason to believe that there has been an unauthorized use of your Online Banking password;
- We notify you or any other person on your account that we have cancelled or will cancel this Agreement. You or any other person on your account can cancel this Agreement by notifying us in writing.
Service is cancelled the first business day after we receive your written notice. Canceling this Agreement will not affect your or our rights and responsibilities under this Agreement for transactions begun before the Agreement is cancelled. Loss of Online Banking access will affect your ability to conduct transactions on your account.
ERROR RESOLUTION NOTICE
In case of Errors or Questions About Your Electronic Transfers, call us at (800) 344-7048, or write to us at Heritage Bank, ATTN: Deposit Services, P.O. Box 1124, Willmar, MN 56201, 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 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 MasterCard 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 MasterCard 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.
AMENDMENTS AND TERMINATION
We reserve the right to amend any terms in this disclosure and to terminate your card privileges upon giving written notice to you within a reasonable period of time in advance of the effective date to the amendment or termination. You may terminate your card privilege by notifying us and returning your card.
Foreign Currency Conversion: When you use your card at a merchant that settles in currency other than US dollars, the change will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a government-mandated rate or the wholesale market rate in effect the day before the processing date, increased by 1%. If you use your debit card at a foreign merchant or in a foreign country outside of the USA, you may notice MasterCard cross border fees or MasterCard currency conversion fees that post to your account. These fees are a result of your foreign purchases/returns and are assessed by MasterCard and will vary depending on the amount of your purchase/return and the exchange rate in effect at the time of the purchase/return. This change does not affect purchases made in the United States at US merchants.
Health Savings Accounts (HSA): We permit you as described in this agreement to access your HSA with a card. The service is offered for the convenience of managing your HSA. However, electronically accessing your HSA – for example, getting additional cash back on an HSA debit card transaction – can raise a variety of tax concerns. As a result, before electronically accessing your HSA, make sure you are using the correct card. Also, it is your responsibility to ensure the contributions, distributions, and other actions related to your HSA comply with the law, including federal tax law. As always, we recommend consulting a legal or tax professional if you have any questions about managing your HSA. The terms of this disclosure are intended to be used in conjunction with the HSA Agreement provided to you earlier. In the event of a conflict, the terms of the HSA Agreement control. You understand that your HSA is intended to be used for payment of qualified medical expenses. It is your responsibility to satisfy any tax liability resulting from use of your HSA for any purpose other than payment or reimbursement of qualified medical expenses. Overdrawing your HSA will cause the plan to be disqualified by the IRS. We do not monitor the purpose of any transactions to or from your HSA. Nor are we responsible for ensuring your eligibility for making contributions or ensuring withdrawals are used for payment or reimbursement of qualified medical expenses. Refer to your HSA Agreement for more information relating to the use of your HSA.
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