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FUNDS AVAILABILITY POLICY DISCLOSURE YOUR ABILITY TO WITHDRAW FUNDS AT CENTURY BANK AND TRUST. 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. However, funds from electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and/or we will use the funds to pay checks that you have written. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. We have different deposit cut-off hours for different locations. Our earliest cut-off hour is 4:30 p.m. If you make a deposit before our cut-off hour 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 our cut-off hour or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Reservation of Right to Hold. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $100.00 of your deposits, however, may be available on the first business day. If we are not going to make all the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the business day after we receive your deposit. If you need the funds from a deposit right away, you should ask us when the funds will be available. Longer Delays May Apply . We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the eleventh business day after the day of your deposit. Holds On Other Funds. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits at Automated Teller Machines. Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day after the day of your deposit. This rule does not apply at ATMs that we own or operate. All ATMs that we own or operate are identified as our machines. Special Rules for New Accounts. If you are a new customer the following special rules will apply during the first 30 days your account is open: Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposit of cash, wire transfers, and the first $5,000.00 of a day's total deposit of cashier's, certified, teller's, traveler's and federal, state and local government checks will be available on the first business day after the day of your deposit if the check meets certain conditions. For example the checks must be payable to you. The excess over $5,000.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000.00 will not be available until the second business day after the day of your deposit. Funds from deposits of checks drawn on Century Bank & Trust will be available on the second business day after the day of your deposit. Funds from all other checks will be available on the ninth business day after the day of your deposit. ACCOUNT DISCLOSURE RATE AND FEE SCHEDULE We're proud to serve you. As a valued member of our financial "family," your needs are our #1 priority. That's why we offer a wide variety of products and friendly, reliable service - all in one convenient place. From checking accounts and loans to savings and investment opportunities, we offer the latest in services, along with some of the most competitive rates and reasonable fees available. Whether you're a young person or an older adult with more complex financial needs, we're here to help! Let us introduce you to our complete array of products and services designed to meet your financial needs now and in the future! This disclosure contains information about terms, fees, and interest rates for some of the accounts we offer. FREEDOM CHECKING Totally FREE checking with no monthly service charge and no minimum balance requirement with the added feature of interest earnings if you maintain an average daily balance of $1,000.00; and safekeeping of your checks in the bank. Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Chart . Interest begins to accrue on the business day you deposit into the account. Interest will be compounded daily and will be credited to the account monthly. If you close the account before interest is credited, you will not receive the accrued interest. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield on your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Limitations: You must deposit $100.00 to open this account. You must maintain an average daily balance of $1,000.00 to earn interest on this account. Account Fees: There are no service charges or minimum balance requirements for this account. Your account will be charged $100.00 if closed within the first 3 months. Bonus: All incentive bonuses earned and credited to your account are subject to 1099 reporting. PERSONAL SELECT CHECKING Our Personal Select Checking rewards you when you maintain an average daily balance of $500.00 or hold a Century Bank and Trust Real Estate Mortgage. This account also offers a competitive rate of interest. Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Chart. Interest begins to accrue on the business day you deposit into the account. Interest will be compounded daily and will be credited to the account monthly. If you close the account before interest is credited, you will not receive the accrued interest. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield of your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain the daily balance amount indicated in the Rate Chart to obtain the disclosed annual percentage yield. Limitations: You must deposit $100.00 to open this account. You must maintain an average daily balance of $500.00 to earn interest on this account. Account Fees: Each month you will be assessed a service charge of $10.00. You may avoid this fee if you maintain, each day during the month, a daily balance of at least $500.00 or if you have a Real Estate Mortgage Loan at Century Bank and Trust. Your account will be charged $100.00 if closed within the first three months. Effect of Fees: Fees may reduce earnings on this account. Bonus: All incentive bonuses earned and credited to your account are subject to 1099 reporting. PERSONAL INFINITY CHECKING This account is designed to achieve higher earnings while offering the conveniences of a checking account. Interest is credited to your account monthly. Rate Information: This account is an interest bearing account. The interest rates and annual percentage yields are included in the Rate Chart below. Interest begins to accrue on the business day you deposit into the account. Interest will be compounded daily and will be credited to the account monthly. If you close the account before interest is credited, you will not receive the accrued interest. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield on your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain the daily balance amount indicated in the Rate Chart to obtain the disclosed annual percentage yield. Limitations: You must deposit $100.00 to open this account. Account Fees: Each month you will be assessed a service charge of $15.00. You may avoid this fee if you maintain, each day during the month, a daily balance of at least $1,500.00. Your account will be charged $100.00 if closed within the first three months. Effect of Fees: Fees may reduce earnings on this account. Bonus: All incentive bonuses earned and credited to your account are subject to 1099 reporting. FIVE STAR HORIZONS CLUB CHECKING If you are over the age of 50 it's easy to become a member of our Five Star Horizons Club. You can enjoy the many benefits offered to our members. Limitations: You must deposit $100.00 to open this account. Account Fees: Each month you will be assessed a service charge of $10.00. This fee will be waived if you maintain a daily balance of $2,500.00 in any combination of checking, savings or certificates of deposit accounts. Bonus: All incentive bonuses earned and credited to your account are subject to 1099 reporting. HEALTH SAVINGS ACCOUNTS Health Savings accounts can help you manage healthcare costs. Rising healthcare costs, both for medical services and insurance have become a great concern to us all. The Health Savings Account (HSA) is an effective way to help you manage these expenses Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart . Interest begins to accrue on the business day you deposit into the account. Interest will be compounded monthly and will be credited to the account monthly. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield on your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain the daily balance amount indicated in the Rate Chart to obtain the disclosed annual percentage yield. Limitations: You must deposit $25.00 to open this account. Account Fees: Each month you will be assessed a service charge of $3.00. You may avoid this fee if you maintain, each day during the month, a daily balance of at least $2,500.00. There is a $1.00 per check withdrawal charge for each check withdrawal exceeding six in a calendar month. Your account will be charged $10.00 if closed during the first six months. Effect of Fees: Fees may reduce earnings on this account. REGULAR SAVINGS This account is designed as a basic savings account especially for those with limited banking needs. It is ideal for a first account for children or for people who need the most basic of savings accounts. There is a low minimum balance requirement. Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart . Interest begins to accrue on the business day you deposit into the account. Interest will be compounded quarterly and will be credited to the account quarterly. If you close the account before interest is credited, you will not receive the accrued interest. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield on your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Limitations: You must deposit $100.00 to open this account. You may make no more than six (6) transfers from your account each four (4) week or similar period. Account Fees: Each month you will be assessed a service charge of $1.50. You may avoid this fee if you maintain, each day during the month, a daily balance of at least $100.00. There is a $1.00 per withdrawal charge for each withdrawal exceeding six in a calendar month. Your account will be charged $10.00 if closed during the first six months. Effect of Fees: Fees may reduce earnings on this account. MONEY MARKET SAVINGS This account is designed to achieve higher earnings. Interest is credited to your account monthly. You can enjoy the ease of depositing or withdrawing funds. Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart . Interest begins to accrue on the business day you deposit into the account. Interest will be compounded monthly and will be credited to the account monthly. If you close the account before interest is credited, you will not receive the accrued interest. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield on your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain the daily balance amount indicated in the Rate Chart to obtain the disclosed annual percentage yield. Limitations: You must deposit $1,000.00 to open this account. You may make no more than six (6) transfers from your account each four (4) week or similar period. Account Fees: Each month you will be assessed a service charge of $2.00. You may avoid this fee if you maintain, each day during the month, a daily balance of at least $1,000.00. There is a $2.00 per withdrawal charge for each withdrawal exceeding six in a calendar month. Your account will be charged $10.00 if closed during the first six months. Effect of Fees: Fees may reduce earnings on this account. CHRISTMAS CLUB SAVINGS Take advantage of a savings plan designed to give you the holiday cash you need. You select the amount you want to save and we'll make it easy for you!! Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart . Christmas Club Savings accounts are typically open for a period of 50 weeks. However, the term of the account may vary depending on when the account is opened. The maturity date of this account is 10/21/08. Interest begins to accrue on the business day you deposit into the account. Interest will be compounded annually and will be credited to the account annually. At the end of the club account period as indicated in our Rate Chart , the funds in the account will be credited to a deposit account of your choice or mailed to you by check. You may elect to have your balance deposited to another Century Bank and Trust deposit account or receive an annual check. If you close the account before interest is credited, you will not receive the accrued interest. Determination of Rate: At our discretion, we may change the interest rate and the annual percentage yield on your account. Frequency of Rate Change: We may change the interest rate on your account at any time. Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum daily balance of $1.00 to obtain the disclosed annual percentage yield. Limitations: You must deposit a minimum of $1.00 to open this account. You may open this account any time during the year. You select the amount and frequency of your deposits. Preauthorized transfers are not allowed from this account. You may not withdraw from this account until the Club payout date referenced in our Rate Chart . At the end of the Club period, this account will be at a zero balance and can be re-opened for next year's deposits. Account Fees: Your account will be charged $10.00 if closed during the first six months. Effect of Fees: Fees may reduce earnings on this account. |
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Savings Accounts
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Minimum Balance Required to Earn Stated APY
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Annual Percentage Yield (APY)
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Regular Savings
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$100.00
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.40%
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Money Market Savings
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$0.01-$9,999.99
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.50%
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$10,000-$24,999.99
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.60%
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$25,000-$49,999.99
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.75%
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$50,000-$99,999.99
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1.00%
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$100,000 +
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1.50%
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Christmas Club Savings
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$1.00
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.40%
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Health Savings Accounts (HSA)
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$0.01-$9,999.99
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2.00%
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$10,000-$24,999.99
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2.15%
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$25,000-$49,999.99
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2.25%
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$50,000-$99,999.99
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2.25%
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$100,000+
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2.25%
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*Rates are as of 5/7/08 and are subject to change without notice. Rates may change after account opening on all variable rate accounts. If you wish to verify the rates, please contact 517-278-1500. |
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OTHER ACCOUNT FEES
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Deposited Checks Returned:
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$5.00 per Check Returned
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Account Reconciliation or Research:
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$27.50 per Hour
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ATM Transactions Conducted at Non-Century Bank & Trust ATM:
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$1.50 per Transaction
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Facsimile Service
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$2.50 per Statement
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Overdraft Charge (per occurrence)
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$30.00
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Overdraft (overdraft less than $10.00)
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$15.00
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| The following fees apply to all of your personal Checking and Savings deposit accounts: | |
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Stop Payment
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$30.00 per Request
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Stop Payment via Internet banking
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$10.00 per Request
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Non-sufficient funds (NSF) (over $10.00)
Charged when an item or entry in excess of the available account balance. |
$30.00
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Non-sufficient funds ($10.00 or less)
Charged when an item or entry in excess of the available account balance. |
$15.00
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Continuous Overdraft
Charged when your account remains overdrawn for more than 10 consecutive days. |
$5.00 per day
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Inactive Account
Charged when your account has no deposits or withdrawals for 36 consecutive months and the balance is $200.00 or less. |
$5.00 per month
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Automatic Transfer to Cover Checking Overdraft
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$7.50 per Transfer
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Check Printing Charges
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$2.00 per page
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Telephone Transfer
No charge if done by Telebanc or Internet Banking. |
$5.00 per Transfer
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MISCELLANEOUS FEES AND CHARGES
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Garnishment, Tax Levy or Injunction
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$50.00 per Order
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Check Cashing (Non-Customer)
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$6.00 per Check Cashed
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Printing or Photocopies
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$0.25 per Sheet
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Collection Items
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$25.00
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Notary
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Free for Bank Customers; $5.00 per Document for non-customers
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Signature Guarantee
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$5.00 per Check
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Cashier's Check
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$3.00 per Check
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Personal Money Order
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$2.00 per Check
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Travelers Cheques
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One Signature
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$1.00 per $100.00 Purchased
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Two Signature
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$2.00 per $100.00 Purchased
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Outgoing Wire Transfer of Funds (USA)
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$20.00 per Transfer
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Outgoing Wire Transfer of Funds (foreign country)
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$30.00 per Transfer
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Incoming Wire Transfer of Funds
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$5.00 per Transfer
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Counter Check (per sheet)
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$0.50 per Check
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VISA Gift Cards
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Customers
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$2.50 per card
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Non-Customers
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$3.50 per card
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TERMS AND CONDITIONS OF YOUR DEPOSIT ACCOUNT This brochure contains the rules, which govern, where appropriate, your deposit account(s) with us. Unless it would be inconsistent to do so, words and phrases used in this brochure should be construed so that the singular includes the plural and the plural includes the singular. Please read this brochure carefully; continued use of your account with us after receipt of this brochure means you agree to these rules, you agree to pay the fees listed, and you give us the right to collect the fees, as earned, directly from the account balance. If you have any questions, please call us. Much of our relationship with our deposit customers is regulated by state and federal law, especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, and the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer, and the law regarding the availability of deposited funds. This body of law is too large and complex to be reproduced here. The purpose of this brochure is to: 1.) summarize the rules applicable to the more common transaction; We may permit some variations from this standard agreement, but any such variations must be agreed to in writing either on our signature card for the account or in some other written form. As used in this brochure, the word "we" means the financial institution and the word "you" means the account holder. DEPOSITS - Any non-cash items deposited to this account (including items drawn "on us") will be given provisional credit only until collection of the item is final. We are not responsible for transactions initiated by mail or outside depository until we actually record them. All transactions received after our "daily cut-off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open. WITHDRAWALS - GENERALLY - Unless clearly indicated to the contrary, any one of you who signs in the space designated for Signatures on the signature card may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to endorse any other transaction with us. We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is greater in number than the frequency permitted, or which is for an amount less than any minimum withdrawal denominations. Even if we honor a non-conforming request, repeated abuse of the stated limitations (if any) may eventually force us to close your account. We will use the date a transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. Withdrawals will first be made from collected funds, and we may, unless prohibited by law, or our policy set forth in this brochure, refuse any withdrawal request against uncollected funds even if our general practice is to the contrary. We reserve the right to require written notice of an intended withdrawal as allowed by Federal Regulation. If we exercise our right to require written notice, we will apply that requirement equally to all depositors that maintain the same type of account. LIABILITY - Each of you agrees, for yourself (and the person or entity you represent if you sign as representative of another) to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges directly form the account balance as accrued. You also agree to pay such additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, together with the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees. TRUST ACCOUNTS - Except as such an account may be varied by a separate agreement: (1) the person opening a Trust Account (called the "settler") may withdraw all or any portion of the account balance during his lifetime; (2) any named beneficiary who does not sign the signature card acquires the right to withdraw from the account only if and when he survives the settler; and (3) if more than one beneficiary is named and survives, the interest of such surviving beneficiaries shall be in equal shares and without survivorship between them. JOINT ACCOUNTS - WITH SURVIVORSHIP - If such an account is indicated on our signature card, each joint tenant intends and agrees that the account balance upon his death shall be the property of the surviving joint tenant, and if more than one survives, they shall remain as joint tenants with right of survivorship between them. ORGANIZATION ACCOUNTS - We will usually require a separate authorization form designating the person(s) permitted and conditions required for withdrawal from any account in the name of a legal entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in writing by the governing body of such organization. STOP-PAYMENTS - To be effective, a stop payment order must be received in time to give us a reasonable opportunity to act on it, and must precisely identify the number, date and amount of the item, and the payee. We will honor a stop-payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. A release of the stop-payment request may be made only by the person who initiated the stop-payment. CHECKS PRESENTED AGAINST INSUFFICIENT FUNDS - Checks presented against insufficient balances are paid in the following order - first, any check cashed by a Century Bank and Trust teller; second, a check used to pay on indebtedness to Century Bank and Trust. Thereafter, a selection permitting the return of the fewest number of checks. A service charge is assessed for each check returned or paid. The depositor agrees to honor any post-dated check or draft that is presented and accepted for payment before the date of the instrument. TELEPHONE TRANSFER - A transfer of funds from this account to another account with us, by telephone, if otherwise permitted or arranged for, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Other account transfer restrictions may apply. AMENDMENTS AND TERMINATION - We may amend any term of this agreement, from time to time hereafter, upon giving reasonable notice to you. Reasonable notice may consist of posting notice of such changes in our building for a reasonable period of time, enclosing notice in the statement of this account, or separate notice by mail. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to any one of you is notice to all of you. STATEMENTS - If you do not notify us of an unauthorized signature or alteration within a reasonable time (not to exceed 14 days) after we send or make available to you your statement and items: (1) you cannot assert the unauthorized signature or alteration against us, even if we are unable to show a loss due to your failure and, (2) you cannot assert any unauthorized signatures or alterations by the same wrongdoer on items paid by us after the reasonable time mentioned above elapses, but before we receive your notice. We lose these protections if we fail to exercise ordinary care in paying an item with an unauthorized signature or alteration, unless you do not notify us of the problem within 60 days of when we send or make available to you the statement and items. You must also report any other account problem (e.g. erroneous statement or passbook entry, missing signature, unauthorized endorsement, etc.) within this 60-day period or lose your right to assert the problem against us. ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent. GARNISHMENTS - All accounts are subject to garnishment and if a court order is served to us, the account will be charged up to the amount of the garnishment order plus our normal collection fee and held for further instructions by the court. ABANDONED ACCOUNTS - Accounts at all financial institutions are subject to State of Michigan Escheat Laws . Accounts wherein there has been no activity initiated by the depositor for seven years may be escheated to the State of Michigan, if we are unsuccessful in contacting the depositor(s). The depositor(s) is responsible for alerting us of his current address and should report to us if statements and interest checks are not received. SERVICE CHARGE - There may be service charges levied by us on all accounts, demand, time and savings, including without limitation charges for the following: Stop payments or renewals thereof
Current schedules of these charges as adjusted from time to time are available from any Customer Service Representative. DIRECT DEPOSITS - If in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorized us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. SET-OFF - You agree that we may (without prior notice and when permitted by law) set-off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' legal entity's right to withdraw. This right of set-off does not apply to this account if: (a) it is an IRA or a tax-deferred retirement account; or (b) the debt is created by a consumer credit transaction under a credit card plan; or (c) the debtor's right of withdrawal only arises in a representative capacity. |
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ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURES This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving a deposit account at the Financial Institution. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfers. In this Agreement, the words "you" and "your" mean those who sign as applicants or any authorized user(s). The words "we", "us" and "our" mean the Financial Institution. INTERNET BANKING Internet Banking delivers a virtual branch to any PC whenever and wherever you need us! Just connect, point and click to accomplish your important banking tasks. Types of Internet Banking Services: You may access your deposit accounts by using a separate customer identification number and password assigned to you at our internet banking website. At the present time you may use the system to:
From our website you may:
System Requirements:
Fees and Charges for Internet Transactions:
TELEBANC Now you can bank on line by telephone right from your home, office, car, even your favorite vacation hideaway. With Century Bank & Trust's 24-hour Telebanc, you can avoid extra trips to the bank. Telebanc puts you in control of your time and your money; allows you to accomplish banking chores without fighting traffic or waiting in line. Plus, it provides the information you need to help make critical financial decisions when you need it - any time of the day or night. Types of Audio Response Services: You may access your deposit accounts by using a separate personal identifications number (PIN) assigned to you and your account number in our audio response system. At the present time you may use the system to:
Limitations:
AUTHORIZED TRANSFERS Types of Preauthorized Transactions: You may arrange for us to complete the following preauthorized transfers to or from your deposit accounts.
Liabilites on Freqency and Amount: Transfers from a money market deposit account or savings account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six per four (4) week or similar period. If applicable, no more than three of these transfers may be made by check, debit card, or similar order to third parties. Fees and Charges:
Other EFT Transactions: You may access certain account(s) you maintain with us by other EFT transaction types as described below: Electronic Check Conversion. You may authorize a merchant or other payee to use your check as a source of account information to initiate an electronic withdrawal from tour account. Electronic check conversion is a payment process in which a merchant (after obtaining your authorization) uses your to gather routing, account and check number information to initiate a one-time EFT to pay for purchases or bills. The Electronic Funds Transfer Act and this disclosure cover this type of EFT transaction involving a consumer account. A description of the transaction will appear on your statement. Re-presented Checks, Transactions and Fees. You may authorize a merchant to electronically collect a fee associated with the re-presentment of a check that is returned due to insufficient or unavailable funds. The resulting fee transaction if debited as an EFT from a consumer account is covered by the Electronic Funds Transfer Act and this disclosure. A description of the transaction will appear on your statement. Automatic Teller Machine (ATM) Card Types of Transfers: You may use the ATM card and personal identification number (PIN) issued to you to initiate transactions at ATMs of ours, ATMs within the networks identified on your card and such other facilities as we may designate from time to time. At present you may use your card to (some of these services may not be available at all ATMs):
Liabilities on Frequency and Amount:
Fees and Charges for ATM Transactions:
Debit MasterCard® Types of Transactions: You may use the card and PIN issued to you to pay for purchases from merchants who have agreed to accept the card at point of sale (POS) terminals within the networks identified on your card and such other terminals as the Bank may designate from time to time. Liabilities on Frequency and Amount:
Fees and Charges:
The following liabilities may be applicable to your accounts: Liability for Unauthorized Debit MasterCard® Transactions. Tell us AT ONCE if your Debit MasterCard® has been lost or stolen or of any unauthorized transactions 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 the money in your account (plus your maximum overdraft line of credit). If you tell us within two business days after you learn of the loss or theft of your card/code, you can lose no more than $50 if someone used your card/code without you permisssion. Your liability for unauthorized use of your Debit MasterCard® with the MasterCard logo when it is used as a MasterCard point of sale Debit MasterCard® will not exceed. (A) Zero dollars ($0.00) if the conditions set forth below have been met, or (B) if those conditions have not been met, the lesser of fifty dollars ($50.00) or the amount of money, property, labor or services obtained by the unauthorized use before notification to us. Zero liability will apply only if: (1) you report the loss or theft of your card within twenty-four (24) hours of discovering if lost or stolen; and (2) you can demonstrate that you have exercised reasonable care in safe-guarding your card from risk of loss or theft; and (3) you have not reported two or more incidents of unauthorized use to us within the preceding twelve (12) months; and (4) your account is in good standing. These consumer liability limits apply only to United States issued MasterCard branded consumer cards. If the transaction does not meet the conditions set forth above, these limits with respect to unauthorized transactions may be exceeded to the extent allowed under applicable law (see Liability for Unauthorized Transfers paragraph below). "Unauthorized use" means the use of your Debit MasterCard® by a person, other than you, who does not have actual, implied or apparent authority for such use, and for which you received no benefit. To notify us of unauthorized transactions, you should also call the number or write to the address listed below if you believe a transfer has been made using the information from your check without your permission. This will help prevent unauthorized access to your account and minimize any inconvenience. MasterCard is a registered trademark of MasterCard International Incorporated. Sub Accounts. The following process will not affect your available balance, the interest you may earn, FDIC insurance protection, or your monthly statement; however, the bank is required to provide you with the following disclosure. This Account consists of a checking sub account and a savings sub account. The Bank may periodically transfer funds between these two sub accounts. On a sixth transfer during a calendar month, any funds in the savings sub account will be transferred back to the checking sub account. If your Account is a Plan on which interest is paid, your interest calculation will remain the same. Otherwise, the savings sub account will be non interest bearing. The savings sub account will be governed by the rules governing our other savings accounts. In addition to the liabilities set forth above, the following liabilities may be applicable to your accounts: Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your card, ATM PIN, or POS card or PIN 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 two (2) business days, you can lose no more than $50.00 if someone used your card or code, and we can prove that we could have stopped someone from using your card or code without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers that you did not make, including those made by card, code, or other means, tell us at one. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty (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. If you believe that your card 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 to us at the telephone number or address set forth below. Business Days. For the purposes of these electronic funds transfers, our business days are Monday through Friday. Holidays are not included. Century Bank and Trust 100 West Chicago Street Coldwater, MI 49036 (517) 278-1500 DOCUMENTATION Periodic Statement. You will get a monthly account statement from us, unless there are no transactions in a particular month. In any case you will get a statement quarterly. You will get a quarterly statement from us on your savings account if this is the only account you maintain and the only possible electronic transfer to or from the account is a preauthorized deposit. If you have a passbook account, you may bring your passbook to us and we will record any direct deposits that we made to your account since the last time you brought in your passbook. Terminal Receipt. You can get a terminal receipt at the time you make any transfer to or from your account using one of our ATMs or POS terminals. Direct Deposits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (517) 278-1500 to find out whether or not the deposit has been made. Our 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 -
There may be other exceptions stated in our agreement with you. In Case of Errors or Questions About Your Electronic Transfers. Telephone us at (517) 278-1500 or write us at 100 W. Chicago Street , Coldwater , MI 49036 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 sixty (60) days after we sent the FIRST statement on which the problem or error appeared.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. We will tell you the results of our investigation within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will re-credit your account within ten (10) business days 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 ten (10) business days, we may not re-credit your account. If we decide that there was no error, we will send you a written explanation of our findings within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. If a notice of error involves an electronic fund transfer that was initiated in a foreign location, or is a point of sale debit card transaction, the applicable time periods for action shall be twenty (20) business days in place of ten (10) business days, and ninety (90) calendar days in place of forty five (45) calendar days. Confidentiality. We will disclose information to third parties about your account or the transfers you make: To complete transfers as necessary; To verify the existence and condition of your account upon the request of a third party, such as a credit bureau or merchant; To comply with government agency or court orders; or If you give us your written permission Personal Identification Number (PIN). The ATM PIN or POS PIN issued to you is for your security purposes. The numbers are confidential and should not be disclosed to third parties or recorded on the card. You are responsible for safekeeping your PIN(s). You agree not to disclose or otherwise make your ATM PIN or POS PIN available to anyone not authorized to sign on your accounts. Notices. All notices from us will be effective when we have mailed them or delivered them to your last known address on our records. Notices form you will be effective when received by us at the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty one (21) days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing your account and any future changes to those regulations. Enforcement. In the event either party brings a legal action to enforce this Agreement to collect amounts owing as a result of any Account transaction, the prevailing party shall be entitled to reasonable attorneys' fees and costs, including fees on any appeal, subject to any limits under applicable law. Termination of ATM and POS Services. You agree that we may terminate this Agreement and your use of the ATM Card or POS services, if: You or any authorized user of your ATM PIN or POS card or PIN breach this or any other agreement with us; We have reason to believe that there has been an unauthorized use of your ATM PIN or POS card or PIN; We notify you or any other party to your account that we have cancelled or will cancel this Agreement. You or any other party to your account can terminate this Agreement by notifying us in writing. Termination of service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination. PREAUTHORIZED ELECTRONIC FUNDS TRANSFERS Stop Payment Rights. If you have told us in advance to make regular electronic funds transfers out of your account(s), you can stop any of these payments. Here's how: Call us or write us at the telephone number or address set forth above, in time for us to receive your request three (3) business days or more before the payments scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call. We will charge you $30.00 for each stop payment order you give us. Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, ten (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 account would fall outside certain limits that you set. Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop one of these payments three (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. Other Provisions. There may be a delay between the time a deposit is made and when it will be available for withdrawal. You should review our Funds Availability Policy to determine the availability of the funds deposited at ATMs. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. If you feel that we have violated the Michigan Electronic Funds Transfer Act you may notify: Michigan: State of Michigan Department of Consumer & Industry Services Office of Financial and Insurance Services 611 W. Ottawa , 2nd Floor P.O. Box 30220 Lansing , MI 48909 Or for National Banks: Comptroller of the Currency Independence Square 250 East Street, S.W. Washington , D.C. 20219 |
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