ATM & Debit Cards
To Report a Lost or Stolen ATM or Debit Card After Hours:
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.
Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or money market account(s).
Bank Line Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at 1-800-952-2089 using your personal identification number, a touch tone phone, and your account numbers, to:
transfer funds from checking to checking
transfer funds from checking to savings
transfer funds from savings to checking
transfer funds savings to savings
make payments from checking to loan accounts with us
make payments from savings to loan accounts with us
get the account balance of checking accounts
get the account balance of savings accounts
Please also see Limitations on frequency of transfers section regarding limitations that apply to telephone transfers.
ATM Transfers – types of transfers and dollar limitations – You may access your account(s) by ATM using your ATM card and personal identification number or Visa Check Card and personal identification number, to:
get cash withdrawals from checking accounts
you may withdraw no more than $260.00 per day
get cash withdrawals from savings accounts
you may withdraw no more than $260.00 per day
for security reasons the limit is $100.00 per day off-line
transfer funds from savings to checking accounts
transfer funds from checking to savings accounts
get the account balance of your checking accounts
get the account balance of your savings accounts
Some of these services may not be available at all terminals.
Please also see Limitations on frequency of transfers section regarding limitations that apply to ATM transfers.
Types of Visa Check Card Debit Card Transactions
You may access your checking accounts to purchase goods, (in person or by phone) pay for services, (in person or by phone) get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant will accept with a credit card).
Verified by VISA
State Bank of Cherry is now offering you Verified by Visa. Verified by Visa puts you in control when shopping online: only you can approve purchases using your private password.
Non-Visa Debit Transaction Processing.
We have enabled non-Visa debit transaction processing. This means you may use your Visa-branded debit card on a PIN-Debit Network* (a non-Visa network) without using a PIN.
The non-Visa debit network(s) for which such transactions are enabled are: NYCE and PULSE Networks.
Examples of the types of actions that you may be required to make to initiate a Visa transaction on your Visa-branded debit card include signing a receipt, providing a card number over the phone or via the Internet, or swiping the card through a point-of-sale terminal.
Examples of the types of actions you may be required to make to initiate a transaction on a PIN-Debit Network include initiating a payment directly with the biller (possibly via telephone, Internet, or kiosk locations), responding to a logo displayed at a payment site and choosing to direct payment through that network, and having your identity verified using known information derived from an existing relationship with you instead of through use of a PIN.
The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa’s zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network.
*Visa Rules generally define PIN-Debit Network as a non-Visa debit network that typically authenticates transactions by use of a personal identification number (PIN) but that is not generally known for having a card program.
Point-of-Sale Transactions – frequency and dollar limitations - Using your card:
you may make no more than ten transactions per day (you may make no more than three refunds of purchases per day)
you may not exceed $500.00 in transactions per day (for security reasons, the limit is $260.00 per day off-line)
Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.
Limitations on frequency of transfers - In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:
Transfers from a money market account to another account or to third parties by preauthorization, automatic, or telephone transfer are limited to six per month with no more than three by check or similar order to third parties.
We do not charge for direct deposits to any type of account.
We do not charge for preauthorized payments from any type of account.
Except as indicated elsewhere, we do not charge for these electronic fund transfers.
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 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, the person or company making the deposit will tell you every time they send us the money.
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 (815) 894 2345 or (800) 447 9138 to find out whether or not the deposit has been made.
Periodic statements -
You will get a monthly statement from us for your checking accounts.
You will get a monthly account statement from us for your money market 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 or from 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.
Passbook savings accounts will receive annual account statements only.
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 brochure in time for is 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.
Please refer to our separate fee schedule for the amount we will charge you for each stop-payment order you give.
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 Institutions 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
If you give us written permission.
(a) Consumer liability. (1) Generally. 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 tell us within 2 business days, you can lose no more than $50 if someone used your card and/or code without your permission. (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.)
If you do NOT tell us within 2 business days after you learn of the loss or theft of the 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 a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
(2) Additional Limits on Liability for Visa check card, when used for point-of-sale transactions. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa check card, when used for point-of-sale transactions, if you report the loss or theft of the card. If you do NOT tell us within 2 business days, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification with us.
(b) 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, write or email us at the following:
(815) 894 2345 or (800) 447 9138
For lost or stolen ATM or debit card after normal business hours: (800) 264-4274
State Bank of Cherry, 110 S. Main , P.O. Box 189, Cherry, IL. 61317
Error Resolution Notice
In case of errors or questions about your electronic transfers, call, write or email us 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 tell you the results of our investigation within 10 business days (20 business days if the transfer involved a point-of-sale transaction or a foreign-initiated transfer) 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 point-of-sale 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 (20 business days if the transfer involved a point-of-sale transaction or a foreign-initiated transfer) 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.
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.
Notice Regarding ATM Fees by Others
If you use an automated teller machine that is not operated by us, you may be charged a fee by the operator of the machine and/or by an automated transfer network.
Notice of ATM/Night Deposit
Facility User Precautions
As with all financial transactions, please exercise discretion when using an automated teller machine (ATM) or night deposit facility. For your own safety, be careful. The following suggestions may be helpful.
Prepare for your transactions at home (for instance, by filling out a deposit slip) to minimize your time at the ATM or night deposit facility.
Mark each transaction in your account record, but not while at the ATM or night deposit facility. Always save your ATM receipts. Don’t leave them at the ATM or night deposit facility because they may contain important account information.
Compare your records with the account statements you receive.
Don’t lend your ATM card to anyone.
Remember, do not leave your card at the ATM. Do not leave until you see "transaction complete" on the screen. Do not leave any documents at a night deposit facility.
Protect the secrecy of your Personal Identification Number (PIN). Protect your ATM card as though it were cash. Don’t tell anyone your PIN. Don’t give anyone information regarding your ATM card or PIN over the telephone. Don’t write your PIN where it can be discovered. For example, don’t keep a note of you PIN in your wallet or purse.
Prevent others from seeing you enter your PIN by using your body to shield their view.
If you lose your ATM card or it is stolen, promptly notify us. You should consult the other disclosures you have received about electronic fund transfers for additional information about what to do if your card is lost or stolen.
When you make a transaction, be aware of your surroundings. Look out for suspicious activity near the ATM or night deposit facility, particularly if it is after sunset. At night, be sure that the facility (including the parking area and walkway) is well lighted. Consider having someone accompany you when you use the facility, especially after sunset. If you observe any problem, go to another ATM or night deposit facility.
Don’t accept assistance from anyone you don’t know when using an ATM or night deposit facility.
If you notice anything suspicious or if any other problem arises after you have begun an ATM transaction, you may want to cancel the transaction, pocket your card and leave. You might consider using another ATM or coming back later.
Don’t display your cash: pocket it as soon as the ATM transaction is competed and count the cash later when you are in the safety of your own car, home, or other secure surrounding.
At a drive-up-facility, make sure all the car doors are locked and all of the windows are rolled up, except the driver’s window. Keep the engine running and remain alert to your surroundings.
We want the ATM and night deposit facility to be safe and convenient for you. Therefore, please tell us if you know of any problem with a facility. For instance, let us know if a light is not working or there is any damage to a facility. Please report any suspicious activity or crimes to both the operator of the facility and the local law enforcement officials immediately.
YOUR ABILITY TO WITHDRAW FUNDS
This policy statement applies to all deposit accounts.
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 3:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open
ADDENDUM TO ACCOUNT DISCLOSURE
As of January 02, 2002
Additional limits on liability for Visa check card.
Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa check card. The additional limit on liability does not apply to ATM transactions, to transactions using your Personal Identification Number, which are not processed by VISA, or to commercial cards.
NOTICE REGARDING ATM FEES BY OTHERS: When you are 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 us you do not complete the funds transfer).
ELECTRONIC CHECK CONVERSION-TYPES OF TRANSFERS:
Your check can result in an electronic funds transfer. This can happen in several ways. For example:
You can purchase goods or pay for services and authorize a merchant or service provider to convert your check into an electronic funds transfer.
At the time you offer a check to a merchant or service provider, you may be asked to authorize the merchant or service provider 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.
Please also see "Limitations on frequency of transfers" section regarding limitations that apply to savings accounts.
When you use your Visa Check Card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount.
Revised Currency Conversion as of May 5, 2014
-A 1% Currency Conversion Fee will be assessed on International transactions were VISA or PLUS has performed a currency conversion function.
-This fee will be based on a rate selected by VISA/PLUS from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA/PLUS itself receives, or the government mandated rate in effect for the applicable central processing date.
-A .80% (80 basis points) cross Border fee will be assessed on all single currency International transactions.
-A .20% (twenty basis points) Currency Conversion Fee will be assessed on International transactions where Cirrus, MasterCard, or Maestro has performed a currency conversion function.
-This fee will be based on either a government mandated exchange rate, or a wholesale exchange rate selected by Cirrus, Master Card, or Maestro and the rate used will be the applicable rate on the day the transaction was processed, which may differ fro the date of the transaction or when it posted to the cardholders account.
-A .90% (90 basis points) Cross Border Fee will be assessed on all International transactions whether or not a currency conversion function was performed by Cirrus, MasterCard, or Maestro.
ADVISORY AGAINST ILLEGAL USE:
You agree not to use your card(s) for illegal gambling or other illegal purpose. 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.