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Retail Product Disclosure
Conditions, Regulations and Funds Availability for Your Accounts With Us [Retail Product Disclosure - Printable Version]
Contents
General Conditions Applicable To Your Account With Us
Truth In Savings - Deposit Account Disclosures
Funds Availability At Androscoggin Bank
Substitute Checks And Your Rights
Electronic Funds Transfer Disclosure (Regulation E)
DEPOSIT ACCOUNT CONTRACT
Terms and Conditions effective January 18, 2008
This Deposit Account Contract is an agreement between Androscoggin Bank (hereinafter the Bank) and the depositor that sets forth the terms, conditions, rights, duties and obligations relating to deposit accounts. The Bank reserves the right to refuse a deposit relationship and will notify the depositor by mail to the last address of record.
Terms: You agree to abide by the State and Federal laws and the Rules and Regulations of the Bank and with any amendments and additions that hereafter may be made that govern regular and time deposits.
Account Type: An Account can be opened as an Individual, Joint (payable to either), Trust (trustee as owner payable upon trustee’s death to the beneficiary named), or as a Fiduciary Account (the fiduciary will file a copy of his/her appointment as a fiduciary or trust agreement with the Bank).
Ownership: Upon the death of any owner of a joint account, the account will belong to the survivor.
Schedule of Charges: You agree to pay the charges set forth in the Bank’s Schedule of Charges. The Bank will publish notice of any new or increased charges thirty (30) days before their effective date.
Right of Set-off: If you owe the Bank money, the Bank can use any money in any account you have with us to pay the debt, subject to State and Federal laws.
Deposits: You agree that all parties named on the account may deposit cash or may endorse for deposit to said account and may authorize the Bank to accept and place to your credit any instrument payable to you. We reserve the right to limit your use of monies deposited until they become collected.
Withdrawals from Passbook Accounts: You may be required to present your passbook for withdrawals. All withdrawals must be accompanied by a written order of withdrawal.
Inactive Accounts: If your account is inactive for three years and we are not able to reach you by mail, Maine law requires us to transfer your account to the State as abandoned property. All time deposits (CDs) will be allowed five renewals before being declared inactive. Please see our Schedule of Changes for applicable charges on inactive accounts.
Legal Proceedings: If your account becomes involved in legal proceedings, your use of it may be restricted.
Non-sufficient Balance: The Bank may refuse payment of and return as unpaid to the presenting party any or all items drawn by a depositor on the depositor’s account and presented to the Bank on any banking day, when at the opening of business that day there is not sufficient collected funds in the account to pay the total amount of such items, unless the depositor has a Line of Credit Agreement or a linked deposit account with sufficient available balance. Overdraft charges apply to overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means, as applicable.
Suspension of ATM/Debit Card: If we block your card for reasons such as loan delinquency, negative balance or any other account situation, you will be assessed a reactivation fee upon reactivation. Please see our Schedule of Charges.
Stop Payment Requests: Depositor may request the Bank to stop payment on an item or items by (1) an initial oral request accepted by a Bank employee in person or over the telephone, and/or (2) a signed written request delivered to the Bank. Stop payment orders terminate in six (6) months, unless renewed in writing. Androscoggin Bank is bound only to exercise good faith and ordinary care in the observation in this matter. The Bank shall have reasonable time after the receipt of this order to notify all appropriate employees and also shall not assume responsibility for stopping payment if the check has already been paid.
The Bank shall be held harmless by depositor for all expenses and costs incurred by the Bank as a result of refusing payment of an item at the depositor’s request.
Deposited Items Limitations: Any accounts used for commercial deposits will be subject to commercial account charges.
Restrictive Signing Authorities: Signing authorities that are restrictive in nature are generally established to satisfy control requirements unique to the depositor. Should the Bank accept an account with restrictive signing authorities, the depositor agrees to hold the Bank harmless from any loss that may arise through its erroneous payment of an item that was not signed in a manner consistent with the restrictive signing instructions.
Statement of Account: Androscoggin Bank shall send to depositor at the close of each accounting period for any statement account (as determined by the Bank from time to time), a statement thereof for the preceding accounting period, together with the items or other evidence of charges against the account for that period.
The depositor is obligated to examine the same immediately and to report promptly to the Bank any dispute or difference of account for whatever reason. Unless the Bank receives written notice of any claimed dispute or difference of account within sixty (60) days after the statement date and items shall have been sent or made available to the depositor, depositor shall be precluded from asserting any dispute or difference as to the account as rendered.
Depositor shall not be relieved of the duty to examine and report the stated consequences thereof by reason of the fact that the statement or any item or items were not sent or made available, unless depositor notifies the Bank of that fact within thirty (30) days of the date upon which the same are customarily sent or made available.
Termination of Account Relationship: The Bank may close any deposit account at any time by sending the balance of funds therein to the depositor, following written notice of its intent to do so, and the Bank shall not be liable for dishonoring any item drawn on the account and presented for payment after such remittance or termination. The Bank may decline to collect any item or items deposited in the account after giving such notice to the depositor.
Address: All remittances, statements, items, notices and written communications given by the Bank to the depositor shall be deemed given when sent to the last postal or email address that the depositor shall have designated for that purpose to the Bank.
GENERAL CONDITIONS APPLICABLE TO YOUR ACCOUNT WITH US
These conditions, together with the disclosures contained in this brochure, constitute the agreement between you and us. “You” and “owner” means the account holder(s) and “we,” “us” and the “Bank” means Androscoggin Bank. We may change our agreement with you at any time upon prior written notice in form, substance and timing that conforms to any applicable regulatory requirements.
Ownership of Accounts and Right to Conduct Transactions
An Individual Account is an account in the name of only one person who has sole rights to the amounts therein.
Joint Accounts are accounts owned by more than one individual. Any owner of a joint account may unilaterally withdraw, transfer or otherwise dispose of all of the funds in the account at any time, unless arrangements requiring multiple signatures are in place. Joint accounts may take several legal forms, but unless otherwise clearly specified in the account documentation:
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All accounts are deemed to be Joint Accounts with Survivorship Rights; and
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All joint accounts will require only one signature and any of the owners has the unilateral right to withdraw or otherwise dispose of any or all of the funds in the account. It is your obligation to ensure that the ownership form properly reflects your intention. No one owner may change the form of ownership on a joint account without the agreement of all account owners.
Multiple signature requirements not established when the account is opened may only be established with the agreement of all owners. Similarly, multiple signature requirements established when the account is opened may only be changed with the agreement of all owners. An account may not be assigned or ownership transferred without our prior written consent.
Joint Accounts with Survivorship Rights are accounts, which, upon the death of one owner, are intended to pass to the other owners. If there is more than one other owner, it will pass to the other owners as joint tenants with survivorship rights.
Payable on Death Accounts are accounts that may only be established by a single owner who designates one or more beneficiaries who are to benefit from the account after the death of the account owner. The account owner has full rights to the account and may at any time withdraw any or all of the funds and otherwise modify the account type and/or ownership form. The owner may change or eliminate the beneficiary designation at any time. The term “owner” does not include the beneficiary. These accounts are payable to the beneficiary if the beneficiary is living and the owner of the account is deceased. If there is more than one beneficiary, the beneficiaries will share in the account after the death of all of the owners.
Conducting Transactions: We are not obligated to and generally will not question the motives or purpose with respect to any transaction. This is true whether an owner conducts the transaction, or one authorized to act on an owner’s behalf. However, we may decline or delay any transaction if we are not satisfied that the individual conducting the transaction can properly identify himself or herself or, if not an owner, that he or she is properly authorized to conduct the transaction.
Liability of Account Owners
All owners are jointly and severally liable for all charges and obligations with respect to the account, including without limitation, liability for overdrafts. This means that the Bank can seek the full amount owed to the Bank from any one of the owners. You authorize us to deduct directly from your account the amount of any charge. This includes charges for special services not listed on the Schedule of Charges.
Transaction Limitations and Requirements
Funds will be made available for deposited items in accordance with the enclosed Funds Availability Policy (page 21). Nevertheless, we reserve the right to charge the account for the amount of any item returned to the Bank together with applicable charges. We also reserve the right to refuse to accept an item for deposit or cashing where collectibility is doubtful, such as in the case of an altered check, a stale check, a check missing necessary signatures, a check which on its face has inconsistent or missing information, a check on a form which is likely to be rejected, etc.
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We reserve the right to refuse any transaction attempted on a form or in a manner not approved by us. Our willingness to allow such a transaction on one occasion does not obligate us to do so in the future.
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We reserve the right to refuse any transaction that may cause an overdraft. Our willingness to allow such a transaction on one occasion does not obligate us to do so in the future. If we allow an overdraft, you are required to pay us the amount of the overdraft and any charges that we may impose in connection therewith.
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We may pay a check prior to the date on the check unless we have received prior written notice to the contrary with respect to the specific item with enough time for us to act.
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We are not obligated to honor restrictive legends on checks written by you unless we have agreed in writing to do so.
Stop Payments: Any one owner of the account may make a stop payment on any item written on the account, regardless of which owner wrote the item. However, only the owner who makes a stop payment may release the stop payment.
A stop payment must be received by the Bank prior to its cashing, paying or certifying the item. The order must be made in a manner allowed by law and must clearly identify the payee, amount, number and date of the item. If we allow the stop payment to be initiated by phone, we reserve the right to release the item if we do not promptly receive a written stop order payment from you in accordance with any instructions that we may provide you on the phone.
Phone Transfers: We may allow phone transfers by any of the owners of the account. However, unless the transfer is the subject of a prior written authorization, we in our discretion may allow transfers only to another account owned by all of the same owners and with the same legal structure. We reserve the right not to allow any transfer unless we are satisfied as to the identity of the owner or caller.
Bank’s Right of Set-Off: Without prior notice (subject to any restriction or requirement provided by applicable law or regulation) we may set off any or all of the funds in your account (except for IRA accounts and other tax deferred accounts) against the obligation of any of you to the Bank that is then due and payable. We will not be liable to you or any third party for any loss or claim resulting from the dishonor of any check drawn on the account or your inability to pay others as a result of our exercise of the Right of Set-Off, and you agree to hold us harmless from any such claim.
Account Information Disclosure: We will disclose information to third parties about your account or the transfers you make under any of the following conditions:
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Where it is necessary for completing transfers; or
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In order to verify the existence and condition of our account for a third party such as a credit bureau or merchant; or
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In order to comply with government agency or court orders; or
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If you give us written permission.
Review of Account Statement: You should review your account statements carefully in a timely manner (but in no event later than sixty (60) days after the statement is made available to you) and promptly notify us of any unauthorized or altered transactions. This includes checks with forged signatures, checks with amounts or payees different from those authorized by you, or items you do not recall having written. If you fail to do so, you may be liable for some or all of the loss (depending on whether our own failure to exercise ordinary care contributed to the loss, and the nature of the transaction such as whether it is a debit card transaction) with respect to the items appearing in the statement as well as to future items reflecting wrongdoing by the same party.
Your responsibility for unauthorized electronic funds transfers is detailed in the Electronic Funds Transfer Disclosure (page 25).
Inactive Account Charge: Inactive is defined as no customer initiated activity or transaction on the account, excluding balance inquiries. If a checking account remains inactive for more than six months (90 days for Basic Plus checking account), then it is subject to a $4.00 monthly charge in lieu of any normal monthly service charge. This excludes Partners and Partners Plus accounts. If a savings account is inactive for more than two years, it is subject to a $1.00 monthly charge in lieu of any normal monthly service charge.
Automated Clearing House (ACH) Account Agreements
Provisional Payment Disclosure: Credit given by the Bank to you with respect to an automated clearing house credit entry is provisional until the Bank receives final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e., the origination of the entry) shall not be deemed to have paid you in the amount of such entry.
Notice Disclosure: Under the Operating Rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, the Bank is not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.
Choice of Law Disclosure: We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the State of Maine as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account.
TRUTH IN SAVINGS - DEPOSIT ACCOUNT DISCLOSURES
Checking Accounts
Basic Checking
Rate Information:
Minimum Balance:
Service Charge:
Please see our Schedule of Charges for additional charges that apply to this account.
FreeStyle Checking
Rate Information:
Minimum Balance:
Service Charge:
Please see our Schedule of Charges for additional charges that apply to this account.
Partners Checking
Rate Information:
Minimum Balance:
Please see our Schedule of Charges for additional charges that apply to this account.
Partners Plus Checking
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Please see our Schedule of Charges for additional charges that apply to this account.
Trust Preferred Checking
Rate Information:
- Available to Androscoggin Bank Trust and Investment clients Only
- The annual percentage yield assumes that the interest will remain on deposit.
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Service Charge:
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There is no monthly service charge on this account.
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There is no service charge for online banking services with this account.
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There is no service charge for online bill pay with this account.
Please see our Schedule of Charges for additional charges that apply to this account.
Electronic Banking
Holders of any consumer checking account may opt for an online banking option to gain online access to their account’s information and activity statement:
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Monthly e-Statement of account activity is available only as an Adobe Acrobat file download. No paper statement will be mailed. Customers are notified by email when their statement is available.
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Enrollment for Online Banking, Direct Deposit and Auto-Payments (if applicable) are recommended.
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Electronic payments from your checking account through point-of-sales devices can be made with your Visa® Check Card.
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The optional Bill Pay has a monthly service charge, with unlimited payment transactions. For holders of a FreeStyle, Partners or Partners Plus account this service is available free of charge. Basic Checking customers have the first three months waived of service charges.
Savings Accounts
Basic Savings
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Transaction Limitations:
Please see our Schedule of Charges for other charges that apply to this account.
Partners Savings
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Transaction Limitations:
Please see our schedule of fees for other charges that apply to this account.
Money Market
This standalone account offers market-based rates with check writing privileges. No other Androscoggin Bank account is required.
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Please see our Schedule of Charges for other charges that apply to this account.
Health Savings Account
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Please see our Schedule of Charges for other charges that apply to this account.
Club Accounts
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Family Development Account
This account is available as a way to assist low-income people in changing their habits of borrowing money to saving money for their future needs. For every $1.00 saved, there is a matching contribution of $2.00 by the agency. The savings may be then used for any of the following future needs:
Eligibility:
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Term:
Transaction Limitations:
Early Withdrawal Penalties:
Bonuses:
Please see our Schedule of Charges for other charges that apply to this account.
Certificates of Deposit
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Term and Automatically Renewable Feature:
Accrual of Interest on Deposits Other Than Cash:
Early Withdrawal Penalties:
Original Certificate
MaturityNo. of Months Interest PenaltyOn Withdrawn Amount
Six months or less
One
Greater than six months, but at least one year
Three
Greater than one year
Six
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A reduction in the principal sum of the account may be required if interest earned is less than the penalty assessed.
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In certain instances such as the death or judicially declared mental incapacity of an owner of the account; the law may permit or require the waiver of penalties for early withdrawal.
Renewal Policy:
Additional Requirements:
IRA Certificates of Deposit
All of the disclosures applicable to Certificates of Deposit are also applicable to IRA Saving’s certificates except to the extent that the following provisions are inconsistent, in which event the following provisions govern:
Minimum Balance:
Transaction Limitations:
IRA Saver Account
Rate Information:
Minimum Balance:
Balance Computation Method:
Compounding and Crediting:
Accrual of Interest on Deposits Other Than Cash:
Transaction Limitations:
Please see the Schedule of Charges for other charges that may apply to this account. You may want to consult a tax advisor as to possible IRS penalties.
FUNDS AVAILABILITY AT ANDROSCOGGIN BANK
Our policy is to make funds from your deposits available to you no later than the first business day after the day of your deposit. At that time, you can withdraw the funds in cash, and we will use the funds to pay checks you have written or to pay electronic charges presented against your account.
Determining the availability of a deposit: Every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit 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 we close or on a day we are not open, we will consider the deposit was made on the next business day we are open. If you make a deposit before 5:00 p.m. at one of our automated teller machines (ATMs), we will consider that day to be the day of your deposit. If you mail funds to us, the funds are considered deposited on the day we receive them. Funds placed in a night depository or lockbox are considered deposited on the day we remove them and they are available for processing.
Same Day Availability: Funds from the following deposits are made available on the same business day they become available to the bank.
- Funds received for deposit by an electronic payment;
- Cash deposits made at the Bank's teller stations;
- Wire transfers.
Case by Case Holds: 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 5th business day after the day of your deposit. However, the first $100 of your deposit will be available on the first business day after the day of your deposit. If we are not going to make all of 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 day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Exception Holds: Funds you deposit by check may be delayed for a longer period under the following circumstances:
- We believe a check you deposit will not be paid;
- You deposit checks totaling more than $5,000 in one day;
- You redeposit a check that has been returned unpaid;
- You have overdrawn you account repeatedly in the last six (6) months;
- There is an emergency, such as failure of communications or computer equipment.
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. Funds generally will be available no later than the ninth business day after the date of your deposit
Rules for New Account: If you are a new customer, the following special rules may apply during the first thirty (30) days your account is open. The first $5,000 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,000 will be available on the ninth business day after the day of your deposit. Funds from wire transfers into your account will be available on the first business day after we receive the transfer. Funds from deposits of cash and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's and state and local government checks will be available on the first business day after the day of your deposit if the checks are payable to you. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If you do not make the deposit in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Holds on Other Funds: If we cash a check for you that is drawn on another bank, 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.
Non-U.S. Financial Institutions: We reserve the right to send any checks drawn on a foreign financial institution (including Canadian institutions) for collection. For each item sent, we will assess a collection charge plus any collection charges charged to us by other financial institutions that process the item as listed in our most recent Schedule of Charges brochure. The funds represented by checks which are sent for collection are generally available within ten (10) to fifteen (15) days.
Checks Returned Subsequent to Funds Being Made Available: If a check you deposited to your account is returned to us unpaid after the funds have been made available to you, the amount of the check will be charged to your account. If there are non-sufficient funds in your account, we reserve the right to demand payment directly from you and to charge you for non-sufficient funds as posted in our most recent Schedule of Charges brochure.
SUBSTITUTE CHECKS AND YOUR RIGHTS (CHECK 21)
To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check.
Rights regarding substitute checks: In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer. This does not apply to checks drawn on non-consumer accounts or to checks drawn on credit card or HELOC accounts. The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal for example, overdraft charge.
The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account.
If you use this procedure, you may receive up to $2,500 of your refund plus interest if your account earns interest within ten (10) business days after we received your claim and the remainder of your refund plus interest if your account earns interest not later than 45 calendar days after we received your claim.
We may reverse the refund including any interest on the refund if we later are able to demonstrate that the substitute check was correctly posted to your account.
How do I make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at 207-784-9164. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by a means to which you agreed the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.
Your claim must include:
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A description of why you have suffered a loss for example, you think the amount withdrawn was incorrect;
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An estimate of the amount of your loss;
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An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
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A copy of the substitute check [and/or] the following information to help us identify the substitute check: identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check.
ELECTRONIC FUNDS TRANSFER DISCLOSURE (Regulation E)
1. Your Liability for Unauthorized Transfers
Tell us AT ONCE if you believe your card or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down; otherwise you could lose all the money in your account. If you believe your card or code has been lost or stolen and you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone has 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 we could have stopped someone from using your card or code had you 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 you may have lost if we can prove that we could have stopped someone from taking the money had you told us in time.
2. Telephone Number and Address to Be Notified in Event of Unauthorized Transfer
If you believe someone has transferred or may transfer money from your account without your permission, call or write:
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Androscoggin Bank EFT, Customer Service Representative. Our telephone number is (207) 784-9164 or (800) 966-9172; our mailing address is P.O. Box 1407, Lewiston, ME 04243-1407.
3. What Constitutes Business Days of Androscoggin Bank
Our business days are Monday through Friday, 8:00 a.m. to 5:00 p.m. Holidays are not included.
4. Account Information Disclosure
We will disclose information to third parties about your account or the transfers you make under any one of the following conditions:
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Where it is necessary for completing transfers; or
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In order to verify the existence and condition of your account for a third party such as a credit bureau or merchant; or
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In order to comply with government agency or court orders; or
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If you give us written permission.
5. Right to Receive Documentation of Transfers
Preauthorized Credits:
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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 (207) 784-9164 or (800) 966-9172 to find out whether or not the deposit has been made.
Periodic Statements:
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• You will get a monthly account statement.
Passbook Account Where the Only Possible Electronic Fund Transfers Are Preauthorized Credits:
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If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.
Notice of Varying Amounts:
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If a regular payment 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.
Terminal Transfers:
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You should get a receipt at the time you make any transfer to or from your account at our automated teller machines or point-of-sale terminals.
6. Rights and Procedures to Stop Payment of Preauthorized Transfers
Right to Stop Payment and Procedure for Doing So:
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If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Call us at (207) 784-9164 or (800) 966-9172, or write: Androscoggin Bank, P.O. Box 1407, Lewiston, Maine 04243-1407, in time for us to receive your request three (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 fourteen (14) days after your call. We will charge our standard stop payment charge for each stop payment order you give.
Liability for Failure to Stop Payment of Preauthorized Transfer:
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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.
7. Androscoggin Bank’s 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:
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If, through no fault of ours, you do not have enough money in your account to make the transfer.
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If the transfer would go over the credit limit on your overdraft line.
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If the automated teller machine (ATM) where you are making the transfer does not have enough cash.
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If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
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If the circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions having been taken.
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If other exceptions are stated in our agreement with you.
8. Error Resolution Procedures Notice
If you have errors or questions about your electronic transfers, call or write: Androscoggin Bank EFT Customer Service Representative 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. Our telephone number is (207) 784-9164 or (800) 966-9172; our mailing address is P.O. Box 1407, Lewiston, Maine 04243-1407. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared.
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Tell us your name and account number.
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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.
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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.
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 out 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.
9. Charges for the Above Service
There may be a charge for each transfer of electronic funds. The Schedule of Charges currently in effect for the account will apply.
10. Types of Available Transfers
You may use your card to:
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Withdraw cash from your checking or statement savings account.
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Make deposits to your checking or statement savings account (where available).
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Transfer funds between your checking and statement savings accounts.
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Pay for purchases at places that have agreed to accept the card.
Some of these services may not be available at all terminals.
11. Limitations on Cash Withdrawals
If you have a Visa Check Card (Debit card), you may withdraw up to your daily limit of your available account balance as established when you opened your account. The standard daily limit is up to $500 in no more than two ATM cash withdrawals and up to $1,000 in eight total daily transactions via a point-of-purchase device, for a limit of no more than $1,500. If you have an ATM card the standard daily limit is up to $500 in ATM cash withdrawals only. Your limit may be different. If you exceed your limit, we may cancel your Androscoggin bank card and/or overdraw your account and assess any applicable charges.
12. Delays in Posting Transactions
There may be a delay between the time you transact and the time the transaction appears on your account. This delay may affect withdrawals, transfers, deposits, and/or loan payments. Transactions made at ATMs may be delayed by up to 24 hours.
13. Limitation of Disclosure
This disclosure applies only to electronic funds transfers and point-of-sale transactions. All other rights, responsibilities, and liabilities affecting any other account at Androscoggin Bank remain in full force.
PRIVACY NOTICE
Androscoggin Bank is committed to respecting the individual privacy of consumers. Since your privacy is a priority to us, Androscoggin Bank will not share non-public information about you with third parties, except as explained in our Privacy Policy.
Privacy Policy
Protecting your privacy is important to Androscoggin Bank. We want you to understand what information we may gather and how we may share it. This Privacy Policy explains Androscoggin Bank’s collection, use, retention and security of information about you.
How We Gather Information: We may obtain non-public personal information about you from the following sources;
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Information we receive from you, such as information on applications or other forms, which may include your name, address, social security number, and income.
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Information about your transactions with us, our affiliates, or others, such as your account balances, account usage and payment history.
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Information we receive from consumer reporting agencies, motor vehicle dealers, credit references, employers, insurance companies, and insurance agencies, such as your credit history, credit score, and information that we obtain to verify employment history. At no time will we ever ask you via email to provide personal banking account information. If you receive such a solicitation, please forward it to customerservice@androscogginbank.com.
Sharing Information
We are required to or we may provide information about you to third parties as permitted by law such as:
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To respond to a subpoena or court order, judicial process or regulatory authorities.
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To consumer reporting agencies.
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In connection with a proposed or actual sale, merger, or transfer of all or a portion of a business or an operating unit.
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To protect against fraud.
In addition, we may provide information about you to our service providers to help us process your application or service your accounts. Our service providers may include billing service providers, mail and telephone service companies, insurers, loan settlement service providers, property inspection companies, attorneys and other professionals.
We may also provide information about you to our service providers to help us perform marketing services. The information provided to these service providers may include the categories of information described previously under “How We Gather Information”. Disclosure is limited to only that information which we deem appropriate for these service providers to carry out their functions.
Opt Out
Androscoggin Bank does not provide its customers with an opportunity to “opt out” of information sharing. The reason for this is because the information sharing arrangements of the bank with third parties as described in this policy under “Sharing Information”, are by law, information sharing arrangements for which “opt out” is not applicable or required; or, may not be allowed as in the case of subpoena’s or other requests by law enforcement agencies.
Our Former Customers
Even if you are no longer an Androscoggin Bank customer, our Privacy Policy will continue to apply to you.
Our Security Practices and Information Accuracy
We also take steps to safeguard customer information. We maintain physical, electronic, and procedural safeguards that comply with Federal standards to protect customer information. We also have internal controls to keep customer information as accurate and complete as we can.
If you believe that any information about you is not accurate, please let us know.
Visits to Our Internet Site
When you visit us on the Internet, we may place a “cookie” on your browser that records the number of visits made to our various web pages; however personal information is not collected. The information we do collect is; IP address, operating system, browser, the site from which you entered our site, the activity you performed while visiting our site, and the site you will be entering upon leaving our site.
Androscoggin Bank makes every effort to safeguard all of the important data it touches, and we strongly recommend that you keep your personal computer’s security up to date as much as possible. Upgrading your browser’s security is a critical step to safeguarding the personal data that resides on your computer.
This Privacy Policy applies to products or services provided by Androscoggin Bank. We reserve the right to change this Privacy Policy, and any of the policies described above, at any time.
If you have any questions regarding our Privacy Policy please contact us at P.O. Box 1407, Lewiston, ME 04243-1407 or call us at (800) 966-9172.
COMPLAINT PROCEDURE
To Our Customers: The Maine Bureau of Financial Institutions has established the following procedure to resolve disputes over deposit account transactions:
“If you have a dispute with your financial institution regarding your deposit account, you may contact the financial institution and attempt to resolve the problem directly. If the financial institution fails to resolve the problem, communicate the problem and the resolution you are seeking by mail to: Bureau of Financial Institutions, 36 State House Station, Augusta, Maine 04333-0036. To file a complaint electronically, you may contact the Bureau of Financial Institutions at the following Internet address:
http://www.state.me.us/pfr/bkg/bkg_consumer.htm
The Bureau of Financial Institutions will acknowledge receipt of your complaint promptly and investigate your claim. You will be informed of the results of the investigation.
When your complaint involves a federally chartered financial institution, the Bureau of Financial Institutions will refer it to the appropriate federal supervisory agency and inform you to whom it has been referred.”
Revised July 2008
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