ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURES (Reg E)

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 information carefully because it tells you your rights and obligations for the transactions listed.  You should keep this 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 accounts. 

Fees

• 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 transfers. 

Documentation 

Terminal transfers:  You can get a receipt at the time you make any transfer from your account using one of our ATMs or purchase at a POS terminal. 

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 all us at (334) 289-3564 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 account.
• You will get a monthly account statement from us for your savings account, unless there are no transfers in a particular month.  In any case, you will get a statement at least quarterly.

Government Direct Deposits 

Types of Preauthorized Transfers:  You may arrange for us to complete the following preauthorized transfers to your deposit  accounts:

• Accept direct deposits from the U.S. Treasury Department to your checking or savings account. 

Other Direct Deposits

Types of Preauthorized Transfers: You may arrange for us to complete the following preauthorized transfers to your deposit accounts:

• Accept direct deposits from your employer or other financial institutions to your checking or savings account. 

Preauthorized Debits 

Types of Preauthorized Transactions:  You may arrange for us to complete the following preauthorized transfers to or from your deposit accounts.

• Pay certain recurring bills from your checking or savings account 

Fees and Charges: 

• We do not charge for any preauthorized EFTs.
• We will charge $20.00 for each stop payment order for preauthorized transfers. 

ATM

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

• Withdraw cash from your checking account(s)
• Withdraw cash from your saving account(s)
• Transfer funds from savings to checking account(s)
• Transfer funds from checking to savings account(s)
• Get information about the account balance of your checking accounts and/or savings accounts

Limitations on Frequency and Amount:

• You may withdraw up to a maximum of $350.00 per day (if there are sufficient funds in your account). 

Fees and Charges for ATM Transactions: 

• There is a $1.00 charge for each ATM cash withdrawal, balance inquiry, or transfer of funds between accounts at ATM machines we do not own or operate.
• You may incur additional charges when using foreign ATMs.

Some of these services may not be available at all terminals.

Internet Banking

You may access your accounts by using a separate personal identification number (PIN) and a user name assigned to you in our Internet Banking System.  At the present time you may use the system to:

·          Transfer funds between your deposit accounts.

·          Obtain tax information on interest earned or paid on you accounts.

·          Obtain balance information on your deposit and loan accounts.

·          Verify the last date and amount of your payroll deposit.

·          Determine if a particular check has cleared your account.

·          Make loan payments.

·          Print account information.

·          Pay bills. 

Fees and Charges:

We charge $4.95 for 15 bill payment transactions per month. Each payment in excess of 15 per month is charged $.39 each.   All fees are waived for the first 3 months of service. 

24 Hour Telephone Banking 

You may access your deposit accounts by using a separate personal identification number (PIN) assigned to you and your account number in our audio response system.  At the present time you may use the system to:

• Obtain balance information on your deposit account.
• Obtain account history on deposit accounts
• Obtain balance information and history on loans
• Obtain current rate information on certificates of deposit

Fees and Charges:

We do not charge for any Audio Response Transactions.

Visa Check Cards (Debit Cards)

Types of Transactions:

• You may use the card and PIN issued 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.
• You may use the card issued to you to pay for purchases from VISA merchants.
• You may use the card issued to you as an ATM card. See ATM disclosures. 

Limitations on Frequency and Amount:

• At point of sale (POS) terminals, you may purchase up to a maximum of $1,000.00 worth of goods and services per day, inclusive of ATM withdrawals (if there are sufficient funds in your account).
• For VISA merchants, there is an open to buy limit of $1,000.00 (if there are sufficient funds in your account). 

Fees and Charges:

We do not charge for POS or check card purchase transactions. 

The following limitations may be applicable to your accounts: 

Liability for Unauthorized VISA Point of Sale Debit Card Transactions:  Tell us AT ONCE if you believe your VISA point of sale card has been lost or stolen or of any unauthorized transactions.  Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any authorized transactions using your lost or stolen VISA Check Card. This 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. To notify us of lost or stolen cards, or of unauthorized transactions, call or write to us at the telephone number or address set forth below.  This will help prevent unauthorized access to your account and minimize any inconvenience.

VISA is a registered trademark of VISA International.

In addition to the limitations set forth above, the following limitations may be applicable to your accounts:

Liability for Unauthorized Transfers:  Tell us AT ONCE if you believe your card, ATM PIN, POS card or PIN, Internet Banking PIN, or Audio Response 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 without your permission.  If you DO NOT tell us within two (2) business days after you learn of the loss or theft of 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, tell us at once.  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 stolen or that someone has transferred or may transfer money from your account without your permission, call (334) 289-3564, or write us at Robertson Banking Company, P. O. Box 490, Demopolis, AL   36732. 

Business Days:  For purposes of these electronic funds transfer disclosures, our business days are Monday through Saturday.  Holidays are not included. 

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:

• If, through no fault of ours, you do not have enough money in your account to make the transfer.
• If the money in your account is subject to legal process or other claim restricting such transfer.
• If the ATM 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 transaction, despite reasonable precautions that we have taken.
• There may be other exceptions stated in our agreement with you.

Error Resolution Notice 

In case of errors or questions about your electronic transfers, telephone us at (334)-289-3564 or write us at P. O. Box 490 Demopolis, AL   36732 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 sixty (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 ten (10) business days.

We will determine whether an error occurred 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 45 days to investigate your complaint or question.  If we decide to do this, we will credit your account within 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 10 business days, we may not credit your account.

The applicable time is 20 business days in place of 10 business days if the notice of error involves an electronic funds transfer to or from your account within 30 days after the first deposit to the account was made.  The applicable time is 90 days in place of 45 days for completing an investigation, if a notice of error involves an electronic funds transfer that:

1.        Was not initiated within a state

2.        Resulted from a point-of-sale debit card transaction, or

3.        Occurred within 30 days after the first deposit to the account was made.

If a notice of error involves unauthorized use of your point of sale debit card with the VISA logo when it is used as a VISA point of sale debit card, we will provide provisional credit within five (5) business days after you notify us instead of within ten (10) or twenty (20) business days.  We may withhold providing this accelerated provisional credit, to the extent allowed under the applicable law, if the circumstances or account history warrants the delay.

We will tell you the results within three (3) 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.

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

• To complete the transaction if necessary
• To verify the existence and condition of your account upon the request of a third party such as a credit bureau or merchant, or
• To comply with government agency or court orders, or
• If you give us permission. 

Personal Identification Number (PIN):  The ATM PIN, POS PIN, Internet Banking PIN, and Audio Response PIN issued to you are 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, POS PIN, Internet Banking PIN, or Audio Response PIN available to anyone not authorized to sign on your account.

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 from you will be effective when received by us at the telephone number or the address specified in the 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 the Agreement or collect amounts owing as a result of any Account transaction, the prevailing party shall be entitled by reasonable attorneys’ fees and costs, including fees on any appeal, subject to any limits under applicable law.

Termination of ATM or POS Services:  You agree that we may terminate this Agreement and your use of the ATM card and POS service if:

• You or any authorized user of your ATM PIN or POS 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 PIN
• We notify you or any other party to your account that we have canceled 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 Fund Transfers.

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 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 amount:   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 will 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 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.

ACH AND WIRE TRANSFERS – This agreement is subject to Article 4A of the Uniform Commercial Code Fund Transfers as adopted in the state in which you have your account with us.  If you originate a fund transfer for which Fed wire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment.  We may rely on the number even if it identifies a financial institution, person or account other than the one named.  You agree to be bound by automated clearing house association rules.  These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code.  If we do not receive such, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited.  If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

ELECTRONIC CHECK/DRAFT CONVERSION (E-Checks):  Your check or draft can result in an electronic funds transfer.  This can happen in several ways.  For example, when purchasing goods or paying for services you may authorize a merchant or service provider (at the point of purchase) to convert your check into an electronic funds transfer.  At the same time, 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 also an electronic funds transfer.

You authorization to make these types of electronic funds transfers may be expressed in writing or implied through the posting of a sign.  You should keep the receipt you receive for such a transfer for you account records.