First Southern Bank

ELECTRONIC FUND TRANSFERS     (Close This Window)

This Electronic Fund Transfer disclosure does not apply to any accounts other than consumer accounts, as defined by Regulation E.

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.

Preauthorized credits

You may make arrangements for certain direct deposits to be accepted into your checking, statement savings, NOW, or money market account(s).

Preauthorized payments

You may make arrangements to pay certain recurring bills from your checking, money market, or NOW account(s).

ATM Transfers - Honor and Cirrus Networks - types of transfers and dollar limitations

You may access your account(s) by ATM using your debit card and personal identification number, to:

  1. get cash withdrawals from checking account(s) - you may withdraw no more than $400.00 per business day
  2. get cash withdrawals from statement savings account(s) - you may withdraw no more than $400.00 per business day
  3. transfer funds from statement savings to checking account(s)
  4. get information about the account balance of your checking account(s)
  5. get information about the account balance of your statement savings account

Some of these services may not be available at all terminals.

Types of ATM/Debit Card Point-of-Sale Transactions

You may access your checking 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 you can do with a credit card (that a participating merchant will accept with a credit card).

Point-of -Sale Transactions - dollar limitations

FEES

We do not charge for direct deposits to any type of account

We do not charge for preauthorized payments from any type of account.

We will charge you $5.00 to replace a lost card or PIN number.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

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.

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, you can call us at (256)764-7131 to find out whether or not the deposit has been made. You will not receive a notice.

Periodic statements

You will get a monthly account statement from us for your checking, NOW, and money market accounts.

You will get a monthly account statement from us for your statement savings account, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

PREAUTHORIZED PAYMENTS

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:

First Southern Bank
102 South Court Street
Florence, Al 35630
256-764-7131

in time for us to receive your request 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 14 days after you call.

We will charge you $20.00 for each stop-payment order you give.

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 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.

FINANCIAL INSTITUTION'S LIABILITY

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:

  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. There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

We will disclose information to third parties about your account or the transfers you make:

  1. where it is necessary for completing transfers; or
  2. in order to verify the existence and condition of our account for a third party, such as credit bureau or merchant; or
  3. in order to comply with government agency or court orders; or
  4. We have your written permission.

UNAUTHORIZED TRANSFERS

Consumer liability

Tell us AT ONCE if you believe your card and/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 $50.00 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your card and/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 and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had 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 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 a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

Contact in event of unauthorized transfer

If you believe 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 or write us at the telephone number or address listed at the end of this disclosure.

ERROR RESOLUTION NOTICE

In Case of Errors or questions about your electronic transfers, call or write us at the telephone number or address listed at the end of this disclosure, 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. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

  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 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 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.

FIRST SOUTHERN BANK
102 SOUTH COURT STREET
FLORENCE, ALABAMA 35631
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (256) 764-7131

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