EFT Disclosure
Consumer Liability.
Tell us AT ONCE if you believe your Middletown Valley Bank Visa® Debit Card has been lost or stolen, or if you believe that an electronic funds transfer (EFT) 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 (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your Middletown Valley Bank Debit Card, you can lose no more than $50 if someone used your Middletown Valley Bank Debit Card without your permission.
If you do NOT tell us within 2 business days after you learn of the loss or theft of your Middletown Valley Bank Visa® Debit Card, and we can prove we could have stopped someone from using your Middletown Valley Bank Visa® Debit Card 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, including those made by card, code, or other means, 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 Middletown Valley Bank Visa® Debit Card has been lost or stolen, call: (844) 533-9211 or write: Middletown Valley Bank, C/o Electronic Banking, 24 W Main Street, PO Box 75, Middletown, MD 21769.
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.
Business days.
For purposes of these disclosures, our business days are Monday through Friday. Holidays are (not) included.
Transfer types and limitations.
Account access.
You may use your Middletown Valley Bank Visa® Debit Card to:
(i) Withdraw cash from your checking or savings account.
(ii) Make deposits to your checking or savings account.
(iii) Transfer funds between your checking and savings accounts whenever you request.
(iv) Pay for purchases at places that have agreed to accept the Middletown Valley Bank Visa® Debit Card.
(v) Pay bills directly by telephone from your checking account in the amounts and on the days you request.
Some of these services may not be available at all terminals.
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:
(i) Pay for purchases.
(ii) Pay bills.
Fees.
(1) See your account agreement(s) for any applicable fees and/or transaction limitations.
Confidentiality.
We will disclose information to third parties about your account or the transfers you make:
(i) Where it is necessary for completing transfers, or
(ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
(iii) In order to comply with government agency or court orders, or
(iv) If you give us your written permission.
Documentation.
(1) 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 (ATMs).
(2) Periodic statements. You will get a monthly or quarterly account statement. You may choose to receive a paper or electronic statement.
Preauthorized payments.
(1) 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's how:
Call us at (844) 533-9211, or write us at Middletown Valley Bank, C/o Deposit Operations, 24 W Main St, PO Box 75, Middletown, MD 21769, 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. (There may be a stop payment fee for each stop-payment order you give.)
(2) Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay should tell you, 10 days before each payment, when it will be made and how much it will be.
(3) 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.
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 the transfer would go over the credit limit on your overdraft line.
(3) If the automated teller machine where you are making the transfer does not have enough cash.
(4) If the system used 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.
ATM fees.
When you use an ATM not owned by us, you may be charged a fee from Middletown Valley Bank (See account agreement and fee schedule), as well as by the ATM network and/or operator (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).