Transfers initiated through
the System before 5:00 p.m.
(Pacific Standard Time) on a
business day are posted to
your account the same day.
Transfers completed after
5:00 p.m. (Pacific Standard
Time) on a business day,
Saturday, Sunday, or a
banking holiday, will be
posted on the next business
day.
Overdrafts
(Order of Payments,
Transfers and other
Withdrawals)
If your account has
insufficient funds to
perform all electronic funds
transfers you have requested
for a given business day,
then:
-
Electronic funds
transfers involving
currency disbursements,
like ATM withdrawals,
will have priority;
-
Electronic funds
transfers initiated
through the System which
would result in an
overdraft of your
account may, at our
discretion, be
cancelled;
-
In the event the
electronic funds
transfers initiated
through the System which
would result in an
overdraft of your
account are not
cancelled, overdraft
charges may be assessed
pursuant to the terms of
the deposit agreement
for that account.
Limits on Amounts and
Frequency of System
Transactions
The number of transfers from
Bank accounts and the
amounts, which may be
transferred, are limited
pursuant to the terms of the
applicable deposit agreement
and disclosure for those
accounts. If a hold
has been placed on deposits
made to an account from
which you wish to transfer
funds, you cannot transfer
the portion of the funds
held until the hold expires.
Stop-Payment Requests
You may initiate stop
payment requests online via
the System only for paper
checks you have written
(non-electronically) on your
Bank accounts. To be
effective, this type of stop
payment request must
precisely identify the name
of the payee, the check
number, the amount, and the
date of the check. If
you make your stop payment
request online or by
telephone, we may also
require you to put your
request in the form of a
written Stop Payment Request
and return it within 14 days
after you notify us.
You will incur stop payment
charges as disclosed in the
current fee schedule for the
applicable account.
Stop payment charges for
System bill payment paper
drafts will be assessed in
addition to the stop payment
charges for the applicable
account.
Disclosure of Account
Information and Transfers
You understand information
about your accounts or the
transfers you make may
automatically be disclosed
to others. For
example, tax laws require
disclosure to the government
of the amount of interest
you earn, and some
transactions, such as large
currency and foreign
transactions, must be
reported to the government.
We may provide information
about your accounts to
persons or companies we
believe would use the
information for reasonable
purposes (e.g., when a
prospective creditor seeks
to verify information you
may have given in a credit
application). In
addition, we routinely
inform credit bureaus when
accounts are closed because
they were not handled
properly. We may also
seek information about you
from others (e.g., the
credit bureau, in connection
with the opening or
maintaining of your account
or in connection with
approving your access to the
System). You agree and
hereby authorize all of
these transfers of
information.
Periodic Statements
You will not receive a
separate System statement.
Transfers to and from your
accounts using the System
will appear on the
respective periodic paper
statements for your Bank
accounts.
Change in Terms
We may change any term of
this Agreement at any time.
If the change would result
in increased fees for any
System service, increased
liability for you, fewer
type of available electronic
funds transfers, or stricter
limitations on the frequency
or dollar amount of
transfers, we agree to give
you notice at least 30 days
before the effective date of
any such change, unless an
immediate change is
necessary to maintain the
security of an account or
our electronic funds
transfer system. We
will post any required
notice of the change in
terms on the Bank System
website or forward it to you
by e-mail or by postal mail.
If advance notice of change
is not required, and
disclosure does not
jeopardize the security of
the account or our
electronic funds transfer
system. We will post
any required notice of the
change in terms on the Bank
System website or forward it
to you by e-mail or postal
mail. If advance
notice of change is not
required and disclosure does
not jeopardize the security
of the account or our
electronic funds transfer
system, we will notify you
of the change in terms
within 30 days after the
change becomes effective.
Your continued use of any or
all of the subject System
Services indicates your
acceptance of the change in
terms. We reserve the
right to waive, reduce, or
reverse charges or fees in
individual situations.
You acknowledge and agree
that changes to fees
applicable to specific
accounts are governed by the
applicable deposit
agreements and disclosures.
In Case of Errors or
Questions about Your
Electronic Transfer
Contact us as soon as you
can, if you think your paper
statement is wrong, or if
you need more information
about a transfer listed on
your paper statement.
We must hear from you no
later than 60 days after we
sent the FIRST paper
statement upon which the
problem or error appeared.
When you contact us:
1.
Tell us your name and
account number (if any).
2.
Describe the error or
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 contact us by
telephone or by e-mail, we
may require that you send us
your concerns in the form of
a paper writing by postal
mail or fax within 10
business days.
We will communicate to you
the results of the
investigation within 10
business days after you
contact us and will correct
any error promptly. If
we need more time, however,
we may take up to 45
calendar days to investigate
your concern or question.
If we decide to do this, we
will provisionally credit
your account within 10
business days 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
investigations. If we
ask you to put your concerns
or questions in writing and
we do not receive it within
10 business days, we may not
provisionally credit your
account.
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.
If we have made a
provisional credit, a
corresponding debit will be
made from your account.
If a notice of error
involves an electronic funds
transfer that occurred
within thirty (30) calendar
days after the first deposit
to the account was made, the
applicable time periods for
the action shall be twenty
(20) business days in place
of ten (10) business days.
If a notice of error
involves an electronic funds
transfer that was initiated
in a foreign country,
occurred within thirty (30)
calendar days after the
first deposit to the account
was made, or is a
point-of-sale debit card
transaction, the applicable
time period for action shall
be ninety (90) calendar days
in place of forty-five (45)
calendar days.
Our Liability for Failure to
Make a Transfer
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, when
you have properly instructed
us to do so, 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 a transfer.
2.
If a legal order directs us
to prohibit withdrawals from
the account.
3.
If your account is closed,
or it has been frozen.
4.
If the transfer would cause
your balance to go over the
credit limit of an
established line of credit
or the credit limit for any
credit arrangement set up to
cover overdrafts.
5.
If you, or anyone authorized
by you, commits any fraud or
violates any law or
regulation.
6.
If any electronic terminal,
telecommunication device, or
any part of the electronic
fund transfer system is not
working properly and you
knew about the problem when
you started the transfer.
7.
If you have not properly
followed the on-screen
instructions for using the
System.
8.
If circumstances beyond our
control (e.g., fire, flood,
interruption in telephone
service, or other
communication lines) prevent
the transfer, despite
reasonable precautions that
we have taken.
9.
There may be other
exceptions stated in our
agreement with you.
Your Liability for
Unauthorized Transfers
CONTACT US AT ONCE if you
believe your password has
been lost, stolen, used
without your authorization,
or otherwise compromised, or
if someone has transferred
or may transfer money from
your account without your
permission. An
immediate telephone call to
us is the best way to reduce
any possible losses.
You could lose all the money
in your account (plus your
maximum overdraft line of
credit, if any). If
you contact us within two
(2) business days after you
learn of the loss, theft,
compromise, or unauthorized
use of your password, you
can lose no more than $50 if
someone used your password
without permission.
If you do not contact us
within (2) business days
after you learn of the loss,
theft, compromise, or
unauthorized use of your
password, and we can prove
we could have stopped
someone from using your
password to access accounts
without your permission if
you had told us, you could
lose as much as $500.
Also, if your paper
statement shows transfers
that you did not make,
contact us at once. If
you do not tell us within 60
days after the paper
statement was mailed to you,
you may not get back any
money lost through
transactions made after the
60-day time period if we can
prove that we could have
stopped someone from taking
the money if you told us in
time. If a good reason
(such as a long trip or
hospital stay) kept you from
contacting us, we will
extend the time periods.
If you believe that your
card or code has been lost
or stolen or that someone
has transferred or may
transfer money from your
account without your
permission, call
503-485-2222, or write us at
Willamette Valley Bank, P.O.
Box 2747, Salem, OR
97308.
Liability for Unauthorized
Visa Point of Sale Debit
Card Transactions.
Tell us at once if you
believe your VISA point of
sale debit card has been
lost or stolen or used for
any unauthorized
transactions. Your
liability for unauthorized
VISA point of sale debit
card transactions that take
place on the VISA System is
Zero dollars. We may
require you to provide a
written statement regarding
claims of unauthorized VISA
point of sale debit card
transactions.
These provisions limiting
your liability do not apply
to VISA commercial cards or
VISA PLUS ATM transactions;
and apply only to cards
issued in the United States.
With respect to unauthorized
transactions, these limits
may be exceeded to the
extent allowed under
applicable law (see Your
Liability for Unauthorized
Transfers) only if we
determine that you were
grossly negligent or
fraudulent in the handling
of your account or point of
sale debit card. The
same consumer liability
limits shall apply to
Interlink Transactions.
“Unauthorized use” means the
use of your point of sale
debit card by a person,
other than you, who does not
have actual, implied, or
apparent authority for such
use, and for which you
receive no benefit. To
notify us of lost or stolen
cards, or of unauthorized
transactions, call or write
to us at the telephone
number or address set forth
above. This will help
prevent unauthorized access
to your account and minimize
any inconvenience.
VISA is a registered
trademark of VISA
International.
