Electronic Funds Transfers
The provisions in this section apply only to electronic fund transfers that debit or credit a consumer’s (“Consumer” means a natural person who has accounts that are used primarily for personal, family, or household purposes) checking, savings or other asset account and are subject to the Federal Reserve Board’s Regulation E (an “EFT”). The Bank may, when applicable, rely on any exceptions to the provisions in this section that are contained in Regulation E. All terms not otherwise defined in the Agreement which are defined in Regulation E will have the same meaning when used in this section.
Your liability for an unauthorized EFT or a series of related unauthorized EFT’s will be determined as follows:
The telephone number and address to be notified when you believe that an unauthorized EFT has been or may be made are:
In Case of Errors or Questions About Your Electronic Transfers, call or write us at:
BANK OF AGRICULTURE & COMMERCE
Contact us immediately if you think:
We must hear from you no later than 60 days after we sent the FIRST
statement on which the problem or error appeared.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) 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. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened. 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 ask for copies of the documents that we used in our investigation.