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.
Your Option to Limit Cash Withdrawals
In addition to dollar amount limitations for withdrawals using your Debit Card and/or code that we may establish. You have the option to limit the amount of cash that can be withdrawn by your Debit Card and/or code to $50.00 per day or some other amount acceptable to us.
ATM Transfers
Types of transfers and dollar limitations - You may access your account(s) by ATM using your Debit Card and Personal Identification Number (PIN). To: (a) Get cash withdrawals from NOW account(s) with a debit card-you may withdraw no more than $500.00 per day (b) Get cash withdrawals from share savings account(s) with a debit card-you may withdraw no more than $500.00 per day. (c) Transfer funds from share savings to share draft account(s) with a debit card. (d) Transfer funds from share draft to share savings account(s) with a debit card.(e) Get information about:-The account balance of your NOW accounts with a debit card.- The account balance of your share savings accounts with a debit card.
Some of these services may not be available at all terminals.
Types of Debit Card Point-of-Sale Transactions
You may access your NOW account(s) 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 can be done with a credit card (that a participating merchant will accept with a credit card).
Point-of-Sale Transactions-frequency and dollar limitations
Using your card: You may make no more than 12 transactions per day. You may not exceed $2,500.00 in transactions per day.
Currency Conversion
If you effect a transaction with your Debit Card in 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.
Termination
You may terminate the electronic fund transfer agreement by written notice to us- .We may terminate the electronic fund transfer agreement by written notice to you.
Minimum account balance
You must maintain a minimum account balance of $25.00 in your Main Share account as a condition of using an access device (card and/or identification code) to accomplish a transfer.
Charges for electronic fund transfers
We do not charge for direct deposits to any type of account. We do not charge for Preauthorized withdrawals from any type of account. Please refer to our separate fee schedule for additional information about charges. 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. Periodic statements. You will get a monthly account statement from us for your NOW accounts.
Direct Deposits
You may make arrangements for certain direct deposits to be accepted into your share draft or share savings accounts.
Direct Deposits
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. You can call our toll-free 24-hour Telephone Banking Line at 888-833-5589 or securely access your account online by clicking here to find out whether or not the deposit has been made.
Periodic Statements
You will get a monthly account statement from us for your share draft accounts. You will get a quarterly account statement from us for your share savings accounts, if the only possible electronic transfers to or from the account are Preauthorized deposits. You will get a monthly account statement from us for your share savings accounts if you have direct deposit or ATM access.
STOP PAYMENT PROCEDURES AND NOTICE OF VARYING AMOUNTS
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 three 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.
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 three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
Preauthorized Withdrawals
You may make arrangements to pay certain recurring bills from your share draft accounts.
Audio Response Telephone Transfers
Types of transfers. You may access your account by telephone 24 hours a day toll-free at 888-833-5589 using a touch-tone phone, your account numbers and your chosen pin number (last four digits of your social security number for first time callers) to get information about: (a)the account balance of share draft accounts (b)the last deposit to share draft accounts (c)the last withdrawal from share draft accounts (d)the account balance of share savings accounts (e)the last deposit to share savings accounts (f)the last withdrawal from share savings accounts (g)the last payroll deduction
ADDITIONAL INFORMATION REQUIRED BY MASSACHUSETTS LAW
(1) Any documentation provided to you which indicates that an electronic fund transfer was made to another person shall be admissible as evidence of the transfer and shall constitute prima facie-proof that the transfer was made. (2) The initiation by you of certain electronic fund transfers from your account will effectively eliminate your ability to stop payment of the transfer.
Unless otherwise provided in this agreement, you (the consumer) may not stop payment of electronic fund transfers, therefore you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment.
FINANCIAL INSTITUTION'S LIABILITY
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) If the funds are subject to legal process or other encumbrance restricting such transfer. (7) There may be other exceptions stated in our agreement with you.
CONFIDENTIALITY
In order that your privacy may be protected, we will not disclose any information about you or your account to any person, organization, or agency except: (1) for certain routine disclosures necessary for the completion of a transfer; or (2) for verification of the existence and condition of your account for a credit bureau or merchant; or (3) to persons authorized by law in the course of their official duties; or (4) to our employees, auditors, service providers, attorneys or collection agents in the course of their duties; or (5) pursuant to a court order or lawful subpoena; or (6) to a consumer reporting agency as defined in Chapter 93 of Massachusetts General Laws; or (7) as explained in the separate Privacy Disclosure. If an unauthorized disclosure has been made, we must inform you of the particulars of the disclosure within 3 days after we have discovered that an unauthorized disclosure has occurred.
UNAUTHORIZED TRANSFERS
(a) Consumer Liability. Generally. Tell us AT ONCE if you think your card and/or code has been lost, stolen or used without your permission. Telephoning is the best way, if any, of minimizing your possible losses. You can lose no more than $50 if you fail to give us notice of your lost or stolen card and/or code and your card and/or code is used without your permission. Additional Limits on Liability for Debit Card, when used for point-of-sale transactions. You will not be liable for any unauthorized transactions using your Debit 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 lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. "Unauthorized use" means the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit. This additional limitation on liability does not apply to PIN-based transactions or transactions not processed by MasterCard. (b) Contact in event of unauthorized transfer. If you think 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 us immediately at (617) 635-4545.
PROTECTED CONSUMER USE
Chapter 1678 of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize this system. (1) Prohibition of compulsory use. No person may: -require you to use a preauthorized electronic fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or -require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or -require you to pay electronically for the purchase of goods or services. If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer. (2) Waiver of rights. No writing or agreement signed by you can waive the rights conferred to you by Chapter 1678 of the Massachusetts General Laws unless you decide to waive these rights in settlement of a dispute or action. (3) Refunds. If it is the policy of a store or retail business to give cash refunds in return for an item purchased by cash, then this policy must also cover refunds for items purchased by electronic fund transfer unless it is clearly disclosed at the time the transaction is consummated that no cash or credit refunds are given for payments made by electronic fund transfers. (4) Suspension of obligations. If a person agrees to accept payment by means of an electronic fund transfer and the system malfunctions preventing such a transfer, then the consumer's obligation is suspended until the transfer can be completed, unless that person, in writing, demands payment by other means. (5) Prohibited means of identification. Your Social Security number cannot be used as the primary identification number although it can be used as secondary aid to identify you. (6) Criminal liability. Procuring or using a card, code or other means of electronic access to an account with the intent to defraud is a basis for criminal liability.
ERROR RESOLUTION NOTICE
In Case of Errors or Questions About Your Electronic Transfers, telephone us at (617) 635-4545 as soon as you can, if you think your statement, passbook or receipt is wrong or if you need more information about a transfer listed on the statement, passbook or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared or, if the only transfer possible is a direct deposit to your passbook account, no later than 60 days after the problem or error was FIRST reflected in your passbook or statement.
(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 calendar days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 calendar days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 calendar 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 if we do not receive it within 10 business days, we may not credit your account.
For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. 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 inspect or ask for copies of the documents that we used in our investigation. If there is no error, we may impose on you a reasonable charge for making such reproductions.
