Deposit Products

Electronic Funds Transfer Disclosure

The purpose of this Disclosure Statement is to make you aware of your responsibilities and rights when using our Electronic Funds Transfer Services.

Services Offered

If you specifically authorize us to accept deposits or honor withdrawals electronically, we will provide such services.

     Deposits. You can arrange to have certain recurring payments automatically deposited to your account. Examples of this service include the direct deposit of Social Security payments, other government payments and the direct deposit of your wages or salary.

     Withdrawals. You can arrange to have certain recurring withdrawals automatically paid from your account. One example of this is payment of life insurance premiums.

     Transfers. You can arrange to transfer funds and make payments between your accounts at our bank by using a personal computer, user ID and password.

     Electronic Check Conversions. A transfer via ACH where a consumer has provided a check to enable the merchant or other payee to capture the routing, account and serial numbers to initiate the transfer. A payment made by a bill payer under a bill payment service available to a consumer via computer or other electronic means.

     When you provide a check as payment, you authorize us or you may authorize a merchant or other payee either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction to pay for purchases or to pay bills. You authorize us to collect a fee (see our fee schedule) through an electronic fund transfer from your account if your payment is returned unpaid.

     When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day you make or we receive your payment.

1. Liability For Unauthorized Transfers

   Contact us immediately if you believe your CARD or PIN has been lost or stolen. Telephoning us at (856) 358-8141 at the First National Bank of Elmer is the best way of keeping your losses to a minimum. You could lose all your money in the account(s) if you take no action to notify us of the loss of your CARD or PIN. If you notify us of the loss, your liability will be as follows:

   1. If you contact us within two business days of the loss or your discovery of the loss, you can lose no more than $50.00. If someone used your CARD and PIN without your permission.
   2. If someone used your CARD and PIN without your permission, you could lose as much as $500 if you do NOT contact us within two business days after you learn of the loss and we can prove that we could have prevented the loss if you had contacted us.
   3. Also, if your monthly statement shows transfers or Purchases that you did not make and you do not contact us within 60 days after the statement was mailed to you, you may not get back any money lost after the 60 days, if we can prove that your contacting us would have prevented those losses.
   4. Your liability will be Zero on Check Card transactions at merchants displaying the VISA� logo. Transactions not covered by this limitation will be ATM or PIN-based transactions not processed by VISA.

2. How To Notify Us

   If you believe that someone has transferred or may transfer money from your account without your permission, call:

   (856) 358-8141
   or write
   The First National Bank of Elmer
   10 South Main Street
   P O Box 980
   Elmer, NJ 08318-0980

3. Business Days

   Our business days are Monday through Fridays. Holidays are not included.

4. Types of Automatic Transfers

   • You may have deposits made to your Checking, super NOW, Money Market or Savings Accounts.
   • You may have payments made from your Checking, Super NOW, Money Market or Statement Savings Accounts.
   • You may transfer funds between your checking, super NOW, Money Market or Statement Savings Accounts.
   • NOTE: Money Market and Statement Savings Accounts
     You may make no more than six (6) preauthorized withdrawals, automatic or telephonic transfers, checks, drafts, and debit card or other similar transactions from your account per month or statement cycle

5. Charges For Transfers

   There are no service charges for these services at the present time, however we reserve the right to impose a service charge in the future. Notification of a service charge will be given in advance.

6. Documentation of Transfers

   1. 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 (856) 358-8141 to find out whether or not the deposit has been made.
   2. Periodic statements. You will get a monthly account statement.
   3. Passbook account where the only possible electronic fund transfers are preauthorized credits. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.

7. Stop Payments and Notice of Varying Amounts

   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 or write us in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may require you to put your request in writing and get it to us within 14 days after you call. We will charge you our normal fee for each stop payment order you give according to our current fee schedule.
   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. If you wish to verify a preauthorized transfer, you may call us.

8. Liability for Failure to Stop Payment

   If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

9. Account Information Disclosure

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

   • Where it is necessary for completing transfers;
     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 written permission.

10. 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:

    • If, though no fault of ours, you do not have enough money in your account to make the transfer.
    • If circumstances beyond our control, such as fire or flood, prevent the transfer, despite reasonable precautions that we have taken. There may be other exceptions stated in our agreement with you.

Change in Terms

We may change the terms of this agreement governing electronic fund transfers by giving you written notice of the change at least 21 days prior to the effective date of the change. However, if the change is made for security purposes we can make a change without giving you prior notice.

Error - Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers

Telephone or write us immediately, at the phone number or address shown elsewhere in this disclosure, 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 compliant 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 compliant 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 you already have an established account with us before this account is opened.

We will tell you the results within 3 business days after we complete 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.