DISCLOSURE ABOUT YOUR OPEN-END LOANS
PAYMENTS must be received at the Bank at the address set forth on the reverse side by 5:00 pm local time. INTEREST on credit advances under your Credit Line will begin to accrue on the date credit advances are posted to your Credit Line. There is no “grace period” which would allow you to avoid paying INTEREST on your Credit Line credit advances.
We figure the INTEREST CHARGE on your Credit Line Account by applying the periodic rate to the “average daily balance” of your Credit Line Account. To get the average daily balance, we take the beginning balance of your Credit Line Account each day, add any new advances and subtract any payments or credits and any unpaid INTEREST or other FINANCE CHARGES. This gives us a daily balance. Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “average daily balance.”
BILLING ERROR RIGHTS
This notice tells you about your rights and our responsibilities under the Fair credit Billing Act.
What To Do If You Find A Mistake On Your Statement
If you think there is an error on your statement, write us at the address listed on your statement. In your letter, give us the following information:
- Account information: Your name and account number.
- Dollar amount: The dollar amount of the suspected error.
- Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.
You must contact us:
- Within 60 days after the error appeared on your statement.
- At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong.
You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.
What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
- Within 30 days of receiving your letter, we must tell you that we received your We will also tell you if we have already corrected the error.
- Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.
While we investigate whether or not there has been an error:
- We cannot try to collect the amount in question, or report you as delinquent on that amount.
- The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
- While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
- We can apply any unpaid amount against your credit limit.
After we finish our investigation, one of two things will happen:
- If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
- If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.
If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.
If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS
Telephone us or write us at the phone number or address printed on the reverse side of this statement as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we send you the FIRST statement on which the error or problem appeared.
- Tell us your name and account number.
- Describe the error or transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information.
- Tell us the dollar amount of the suspected error.
We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this (5 business days for Visa Check Card point-of-sale transactions and 20 business days if the transfer involved a foreign initiated transfer/point-of-sale transaction), we will recredit your account for the amount that you think is in error, so that you will have the use of the money during the time that it takes us to complete our investigation. Please refer to the “Your Deposit Account” brochure for additional information.
INSTRUCTIONS FOR KEEPING YOUR SAVINGS AND CHECKING ACCOUNT RECORDS
This Statement Reconcile Form will assist when reconciling your account.