Products & Services
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. You should keep this notice for future reference.

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 savings account(s).

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 your 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.

ATM Transfers (types of transfers, dollar limitations, and charges) - You may access your account(s) by ATM using your ATM card and personal identification number to:

• make deposits to checking account(s) with an ATM card
  • there is a charge of $1.18 per transaction
• make deposits into savings account(s) with an ATM card
  • there is a charge of $1.18 per transaction
• get cash withdrawals from checking account(s) with an ATM card
  • you may withdraw no more than $100.00 per business day in combination with point-of-sale transaction
  • there is a charge of $.58 per withdrawal
• get cash withdrawals from savings account(s0 with an ATM card
  • you may withdraw no more than $100.00 per business day in combination with point-of-sale transaction
  • there is a charge of $.58 per withdrawal
• transfer funds from savings to checking account(s) with an ATM card
• transfer funds from checking to savings account(s) with an ATM card
• get information about:
  • the account balance of your checking accounts
    • with an ATM card
    • there is a charge of $.33 per inquiry
  • the account balance of your savings accounts
    • with an ATM card
    • there is a charge of $.33 per inquiry

There is no charge for transactions at ATMs we own or operate. Some of these services may not be available at all terminals.

Types of ATM Card Point-of-Sale Transactions - You may access your checking accounts to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.

Point-Of-Sale Transactions (dollar limitations and charges) - Using your ATM card:

• you may not exceed $100.00 in transactions per business day in combination with ATM withdrawals
• the charge to use your card id $.15 per transaction

Types of Check Card Point-Of-Sale 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).

Point-Of-Sale Transactions (dollar limitations and charges) - Using your Check Card:

• you may not exceed your available balance in transactions per day
• the charge to use your card is $.15 per transaction when using a PIN

Currency Conversion - If you effect a transaction with your Check Card a currency other than US Dollars, MasterCard International Incorporated will convert the charge into a US dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to Institutions that issue MasterCard cards. Currently, the conversion rate used by MasterCard International to determine the transaction amount in US dollars for such transactions is generally either a government mandated rate or a wholesale rate determined by MasterCard International for the processing cycle in which the transaction is processed, increased by an adjustment factor established from time to time by MasterCard International. The currency conversion rate used by MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

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.

FEES

• We do not charge for direct deposits to any type of account.
• We charge $5.00 each year if your account is set up to use ATMs

Except as indicated elsewhere, we do not charge for 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).

DOCUMENTATION

• 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, you can call us at (515) 653-4422 or (515) 683-4422 to find out whether or not the deposit has been made.
• Periodic statements - You will get a monthly account statement from us for your checking, NOW, and HI-FI accounts. You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

PREAUTHORIZED PAYMENTS

• 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 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 will charge you $20.00 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 and 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:

1. If, through no fault of ours, you do not have enough money in your account to make the transfer.
2. If you have an overdraft line and the transfer would go over the credit limit.
3. If the automated teller machine where you are making the transfer does not have enough cash.
4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
6. There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

We will disclose information to third parties about your account or the transfers you make:

1. where it is necessary for completing transfers; or
2. in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
3. in order to comply with government agency or court orders; or
4. as explained in the separate Privacy Disclosure.

UNAUTHORIZED TRANSFERS

• Consumer liability
  • 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 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 a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
    
    
  • Additional Limits on Liability for Check Card (when used for point-of-sale transactions) - You will not be liable for any unauthorized transactions using your Check Card, when used for point-of-sale transactions, if (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, (ii) you have not reported to us two or more incidents of unauthorized use within the prior twelve-month period, and (iii) your account is in good standing. IF any of these conditions are not met, your liability is the less 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 debt 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 limitation on liability does not apply to PIN-based transactions or transactions not processed by MasterCard.
• Contact in the event of unauthorized transfer - If you believe your card an/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 addresses listed on this site.

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfer, call or write us at the telephone number or address listed on this site, 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 not later than 60 days after we sent the FIRST statement on which the problem or error appeared.

1. Tell us your name and account number (if any).
2. 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.
3. 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 (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 (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. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

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.

Hedrick Savings Bank
Bookkeeping
101 Main Street, P.O. Box 200, Hedrick, IA 52563
Phone: (641) 653-4422

2457 North Court Street, Ottumwa, IA 52501
Phone: (641) 683-4422

216 South Market, Ottumwa, IA 52501
Phone: (641) 683-1300

Business Days: Monday - Friday
Excluding Federal Holidays

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST