EFT Disclosure Agreement
Electronic Funds Transfer Disclosure and Agreement
The Electronic Fund Transfer Act and Regulation E require institutions to provide certain information to customers regarding electronic fund transfers ("EFTs"). This disclosure applies to any EFT service you receive from us related to an account established primarily for personal, family or household purposes. Examples of EFT services include direct deposits to your account, automatic regular payments made from your account to a third party and one-time electronic payments from your account using information from your check to pay for purchases or to pay bills. For purposes of this disclosure, "Business Day" means Monday through Friday.
Electronic Fund Transfer Services Provided
Preauthorized Transfer Services
You may arrange for the preauthorized automatic deposit of funds to your 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. The person or company making the deposit will tell you every time they send us the money. You can call us at (888) 662-2443 to find out whether or not the deposit has been made.
You may arrange for the preauthorized automatic payments or other transfers from your checking account(s) and savings account(s).
Services Provided Through Use of OMB Bank Mobile Banking
OMB Bank offers its customers use of our OMB Bank Mobile Banking service.
OMB Bank Mobile Banking Transfers — Types of transfers. You may access your OMB Bank account(s) by downloading our mobile banking app and using your user identification and password, to:
Transfer funds from checking to checking
Transfer funds from checking to savings
Transfer funds from savings to checking
Transfer funds from savings to savings
Make payments from checking to loan account(s) with us
Make payments from checking to third parties
Make payments from savings to loan account(s) with us
Get information about:
The account balance of checking account(s)
The account balance of savings account(s)
Mobile Deposits. Deposits are limited to $2,500.00 per item, and $5,000.00 per day. You may be charged access fees by your cell phone provider based 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.
Electronic Check Conversion
If your account is a checking account, you may authorize a merchant or other payee to make a one-time electronic payment from this account using information from your check to pay for purchases or to pay bills.
Electronic Return 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.
Limitations on Transactions
In addition to those limitations on transfers elsewhere described, if any, the following limitations apply to your Savings & Money Market Account(s) account(s): During any statement cycle, you will be limited on the number of debit transactions, including transfer debits, that can post to your account without incurring an excessive per item transaction fee for a savings or money market account(s). An excessive per item transfer fee will be charged per debit when a savings account exceeds twenty-four (24) debit transactions per statement cycle and when a money market account exceeds eight (8) debit transactions per statement cycle. Please refer to OMB Bank's fee disclosure for the excessive per item transaction fee amount.
Notice of Rights and Responsibilities
The use of any electronic fund transfer services described in this document creates certain rights and responsibilities regarding these services as described below.
Right to Receive Documentation of Your Transfers
Periodic Statements. If your account is subject to receiving a monthly statement, all EFT transactions will be reported on it. If your account is subject to receiving a statement less frequently than monthly, then you will continue to receive your statement on that cycle, unless there are EFT transactions, in which case you will receive a monthly statement. In any case you will receive your statement at least quarterly.
Preauthorized 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:
you can call us at (888) 662-2443 to find out whether or not the deposit has been made.
Rights Regarding Preauthorized Transfers
Rights and Procedures to Stop Payments. If you have instructed us to make regular preauthorized transfers out of your account, you may stop any of the payments. To stop a payment:
call us at: (888) 662-2443
or write to: 3570 S National Ave, Springfield MO 65807
We must receive your call or written request at least three (3) business days prior to the scheduled payment. If you call, please have the following information ready: your account number, the date the transfer is to take place, to whom the transfer is being made and the amount of the scheduled transfer. If you call, we will require you to put your request in writing and deliver it to us within fourteen (14) days after you call.
Notice of Varying Amounts
If you have arranged for automatic periodic payments to be deducted from your checking or savings account and these payments vary in amount, you will be notified by the person or company you are going to pay ten (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.
Our Liability for Failure to Stop Preauthorized Transfer Payments
If you order us to stop one of the payments and have provided us with the information we need at least three (3) business days prior to the scheduled transfer, and we do not stop the transfer, we will be liable for your losses or damages.
Your Responsibility To Notify Us of Loss or Theft
If you believe your internet banking access code has been lost or stolen:
call us at: (888) 662-2443 (7:30am – 6:00pm, Monday – Friday; 9:00am – 12:00pm, Saturday)
or write to: 3570 S National Ave, Springfield MO 65807
You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.
Consumer Liability
Tell us AT ONCE if you believe your Debit Card or Personal Identification Number (PIN) or internet banking access code has been lost or stolen or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account.
If you tell us within two (2) business days after you learn of the loss or theft of your Debit Card or Personal Identification Number (PIN) or internet banking access code you can lose no more than fifty dollars ($50) if someone used your Debit Card or Personal Identification Number (PIN) or internet banking access 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 Debit Card or Personal Identification Number (PIN) or internet banking access code and we can prove we could have stopped someone from using your Debit Card or Personal Identification Number (PIN) or internet banking access code without your permission if you had given us notice, you can lose as much as five hundred dollars ($500).
Also, if your statement shows transfers you did not make, including those made by card, code, or other means, tell us at once. If you do not tell us within sixty (60) days after the statement was transmitted to you, you may not receive back any money you lost after the sixty (60) days, and therefore, you may not get back any money in your account, if we can prove that we could have stopped someone from taking the money had you given us notice in time. If a good reason (such as a long trip or hospital stay) keeps you from giving the notice, we will extend the time periods.
In Case of Errors or Questions About Your Transactions
In case of errors or questions about your electronic fund transfers:
call us at: (888) 662-2443
or write to: 3570 S National Ave, Springfield MO 65807
Notification should be made as soon as possible if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. You must contact OMB Bank no later than 60 days after we sent you the first statement on which the problem or error appears. You must be prepared to provide the following information:
Your name and account number.
A description of the error or transaction you are unsure about along with an explanation as to why you believe it is an error or why you need more information.
The dollar amount of the suspected error.
If you provide oral notice, you will be required to send in your complaint or question in writing within ten (10) business days.
We will determine whether an error occurred within ten (10) business days (twenty (20) business days for new accounts) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days (ninety (90) days for new accounts and foreign initiated transfers) to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days (twenty (20) business days for new accounts) for the amount which you think is in error, so that you will have the use of the money during the time it takes to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. The extended time periods for new accounts apply to all electronic fund transfers that occur within the first thirty (30) days after the first deposit to the account is made, including those for foreign initiated transactions.
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.
Liability For Failure To Complete Transaction
If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement, we will be liable for your losses or damages as provided by law. 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 transfer would result in your exceeding the credit limit on your line of credit, if you have one.
If circumstances beyond our control (such as fire or flood, computer or machine breakdown, or failure or interruption of communications facilities) prevent the transfer, despite reasonable precautions we have taken.
If we have terminated our agreement with you.
If we receive inaccurate or incomplete information needed to complete a transaction.
In the case of preauthorized transfers, we will not be liable where there is a breakdown of the system which would normally handle the transfer.
If the funds in the account are subject to legal action preventing a transfer to or from your account.
There may be other exceptions provided by applicable law.
Charges For Transfers or The Right To Make Transfers
Fees. You may be charged a fee for withdrawals of cash under certain circumstances, whether they take place at proprietary machines or through a network or are Point of Sale transfers or transfers made without the use of your The circumstances under which such charges will be assessed, as well as the amount of the charge, are included in the Fee Schedule incorporated in these Terms.
Fee Schedule. The Fee Schedule referred to above is incorporated into these Terms by reference. Additional copies of the schedule may be obtained from us upon request.
Preauthorized Transactions. There are no additional charges for your use of preauthorized electronic fund transfers except as stated in our Fee Schedule, included in these Terms.
Disclosure of Account Information
We will disclose information to third parties about your account or electronic fund transfers made to your account:
Where necessary to complete a transfer or to investigate and resolve errors involving the transfer(s); or
In order to verify the existence and condition of your account for a third party such as a credit bureau or merchant; or
In order to comply with government agency or court orders; or
If you give us your permission in a record or writing.
Amending or Terminating this Agreement
We may change this agreement from time to time. You will be notified at least 21 days before a change will take effect if it will cause you an increase in costs or liability or it will limit your ability to make electronic fund transfers. No notice will be given if the change is necessary for security reasons. We also have the right to terminate this agreement at any time.