EFT Disclosure

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.

Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third-party transfers will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers.

Examples of these transfers include, but are not limited to:

• Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
• Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
• Electronic check conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.
• Electronic returned check charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.

Please also see Limitations on frequency of transfers section regarding limitations that apply to savings accounts.

A disclosure of the basic rights, liabilities and responsibilities of the act is presented below:

TO CONTACT US CONCERNING

• Stop Payments
• Error Resolution
• Verification of Automatic Deposits
• General Inquiries

You may write:

Greenfield Banking Company
Bookkeeping Department
P O Box 587
Greenfield, IN 46140

-OR-

Call (317) 462-1431 during business hours:

• 8:00 a.m. to 5:00 p.m. Monday through Friday
  

TYPES AND LIMITS OF TRANSFERS

If you have been notified by the issuing of a card or NetTeller ID, you may:

1. Use your card to withdraw up to $500.00 cash per day at an ATM from your checking, savings/money market accounts provided you do not exceed the balance of your account.
2. Use your debit card to make purchases at point-of-sale terminals for up to $2,500.00 per day (or your balance limit, whichever is lower).
3. Obtain cash advances from your Credit Card at an ATM.
4. Use your card to make deposits at a GBC-owned ATM to your checking, savings/money market accounts.
5. At a GBC-owned ATM you can transfer funds from:
   Checking to checking
   Checking to savings/money market
   Savings/money market to checking
   Savings/money market to savings/money market
   Checking to loan accounts (make payments)
   Savings/money market to loan accounts (make payments)
6. At a GBC-owned ATM you can get information about:
   the account balance of checking accounts
   account balances of savings/money market accounts.
7. On NetTeller;
   review current transactions
   review account history
8. On NetTeller:
   you may place a stop payment request.
   Make payments from checking to loan account(s) with us
   Make payments from savings to loan account(s) with us
   Make payments from checking to payees you have established in bill pay.
9. On GBC Pocket Banker, you can transfer funds to/from GBC accounts as follows
   Checking to checking
   Checking to savings/money market
   Savings/money market to checking
   Savings/money market to savings/money market
10. On GBC Pocket Banker, you:
    Can make immediate payments to payees previously set up in NetTeller.
    Can view alerts
    View a 15-day transaction history
    May be charged access fees by your cell phone provider passed on your individual plan. Web access is needed to use this service. Check with your cell phone provider for details on specific fees and charges.

Limitation on frequency of transfers: In addition to limitations on transfers elsewhere described, if any, the following limitations apply:

• Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month.
  
• Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per statement cycle with no more than three by check, draft, debit card or similar order to third parties.
  

PREAUTHORIZED PAYMENT

Electronic transfer from your account to other parties should be preauthorized by you in writing. To cancel a preauthorization of electronic transfer, you should contact the party to whom the authorization was given.

If regular payments vary in amount, such as a utility bill, THE PARTY YOU ARE GOING TO PAY will need to notify you 10 days before each payment when the payment is to be made and how much it will be. You may choose instead to get this notice only when the payment amount goes beyond certain limits that you determine.

RIGHTS CONCERNING ELECTRONIC CHECK CONVERSION TRANSACTIONS

Electronic check conversion is a process where your check is used as a source of information for the check number, your account number, and the number that identifies your bank.  The information is then used to make a one-time electronic payment from your account – an electronic fund transfer.  The check itself is not the method of payment.

You have the right to:

• receive written notice when you provide your check telling you that information from the check will be used to make an electronic payment from your account.
  
• receive a notice telling you of any fee that the merchant will collect from your account electronically if you do not have enough money in your account to cover the transaction.  This fee is similar to a non-sufficient funds fee.
  
• receive a receipt that includes the date, $ amount, location and name of the merchant.
  
• have this same information included as part of the regular account statement from us.
  
• ask us to investigate any electronic fund transfers from your account that you believe are unauthorized or incorrect.
  

RIGHT TO RECEIVE DOCUMENTATION

You may call us at (317) 462-1431 or check your account through NetTeller to find out whether or not an automatic deposit to or withdrawal from your account has been made.  You will get a monthly statement of your checking account.  You will also receive a monthly statement of your regular savings account unless there are no transfers during a particular month, in which case, you will receive the statement quarterly.  If the account earns less than $10 in interest and has no transactions, you may receive an annual statement.  You will receive a receipt at the time you make a transaction using your ATM or Debit Card.

ACCOUNT INFORMATION DISCLOSURE

We will not disclose information to third parties about your account or the transfers you make unless:

• It is necessary to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.  

• We are required to comply with valid subpoenas or court orders. –OR-
• You gave us your written permission.
  

RIGHTS TO STOP PAYMENT OF PREAUTHORIZED TRANSFERS

If you have authorized us in advance to make regular payments from your account, you may stop any of these payments.  Procedures are as follows:

Contact the Greenfield Banking Company office most convenient for you to fill out and sign a written statement of unauthorized ACH or ATM debit activity (affidavit).  This document must be signed before the payment can be stopped.  If you order us in writing to stop payment on 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.

BANK LIABILITY

If we do not complete a transfer to or from your account at the time, or in the amount authorized by you, we will be liable for your losses or damages.  However, we will not be liable for the following exceptions:

• A transfer which would exceed the balance of your account.
  
• Circumstances beyond our control (such as fire, flood, or transmission of data) which might prevent the transfer despite reasonable precautions taken by us.
  
• Other exceptions which may be stated in our agreement with you.
  

LOST OR STOLEN CARDS OR UNAUTHORIZED USE

It is important to you, and to the bank, that you tell us AT ONCE when you believe your card or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than $50 if someone used your card or code without your permission.

If you do not tell us within 2 business days after you learn of the loss or theft of your card or code, and we can prove 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.

Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If extenuating unavoidable circumstances prevent your report to us, we may consider extending the time periods.

ERROR RESOLUTION

Telephone or write us as soon as possible if you think your statement or receipt is wrong, or if you need more information about a transfer listed. We must hear from you no later than 60 days from the date you receive the FIRST statement on which the problem or error appeared:

• Give us your name and account number.
• Describe the error or the transfer in question.
• Give us the dollar amount and the date of the transaction.

If you telephone, we may ask that you describe the point in question in writing within 10 days.

In most instances we will let you know the results of our investigation within 10 business days after we hear from you, and we will correct any error promptly. Should we need more time, we may take up to 45 calendar days. However, we will recredit your account within 10 days for the money in question so that you will have use of the funds while we are completing our research.

If you are asked to put your complaint or question in writing and it is not received within 10 days, we may not re-credit your account.

In the event that no error is found, we will send you a written explanation within three days of the completion of our investigation. If you received credit for the amount in question, the letter will also include the date that your account will be debited for the amount given. You may ask for copies of the documents used in our investigation.

ADDITIONAL INFORMATION:

Contribution transfers to HSA accounts through NetTeller, GBC PocketBanker (mobile banking) and any other electronic transfer will be applied to the current year only. Contributions to the prior year can be made between January 1 and the tax filing due-date, without extensions. See any branch to make prior-year contributions.

CONSUMER PROTECTION PROVISION FOR SUBSTITUTE CHECKS

(Check Clearing for the 21st Century Act, Effective October 28, 2004)

If a consumer believes that a substitute check was not properly payable, he or she may file an “expedited re-credit” from the paying financial institution. The financial institution must investigate any claim and in most cases either resolve the claim within 10 business days, or provide the consumer with an expedited re-credit of up to $2,500.00 pending completion of the investigation.

In general, 45 calendar days is the limit to conclude the investigation and make a final determination.

September, 2020