Terms and Conditions
Electronic Funds Transfer
Internet Banking
Privacy Policy
Funds Availability Disclosure
Truth-in-Savings Disclosure
TERMS AND CONDITIONS OF YOUR DEPOSIT ACCOUNT
Dear Depositor:
To help the government fight the funding of terrorism and money laundering activities. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
This disclosure contains the rules which govern, where appropriate, your deposit account with us. Unless it would be inconsistent to do so, words and phrases used in this brochure should be construed so that the singular includes the plural and the plural includes the singular. Elsewhere in this brochure you will find a schedule of the applicable interest rates, methods, qualifying balances and charges. Please read this brochure carefully; continued use of your account with us after receipt of this brochure means you agree to these rules, you agree to pay the fees listed, and you give us the right to collect the fees, as earned, directly from the account balance. If you have any questions, please call us.
Much of our relationship with our deposit customers is regulated by state and federal law, especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer, and the law regarding the availability of deposited funds. This body of law is too large and complex to be reproduced here:
The purpose of this disclosure is to:
1) summarize the rules applicable to the more common transactions
2) establish rules to govern transactions or circumstances which the law does not regulate; and
3) establish rules for certain events or transactions which the law already regulates but permits variation by agreement.
We may permit some variations from this standard agreement, but any such variations must be agreed to in writing either on our signature card for the
account or in some other written form.
As used in this disclosure, the word “we” means the financial institution and
the word “you” means the account holder.
DEPOSITS – Any items, other than cash, accepted for deposit (including items drawn “on us”) will be given provisional credit only until collection of the item is final (and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars). We are not responsible for transactions initiated by mail or outside depository until we actually record them. All transactions received after our “daily cut-off time” on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open.
WITHDRAWALS - GENERALLY – Unless clearly indicated to the contrary, any one of you who signs in the space designated for Signatures on the signature card may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to endorse any item payable to you or your order for deposit to this account or any other transaction with us.
We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is greater in number than the frequency permitted, or which is for an amount less than any minimum withdrawal denomination. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close your account. We will use the date a transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds even if our general practice is to the contrary. The fact that we may honor withdrawal requests which overdraw the finally collected account balance does not obligate us to do so, unless required by law.
We reserve the right to at any time require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than time deposits.
LIABILITY – Each of you agrees, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges directly from the account balance as accrued. You also agree to pay such additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, together with the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorney’s fees.
REVOCABLE TRUST AND PAY-ON-DEATH ACCOUNTS – If two or more of you create such an account, you own the account jointly with survivorship. Beneficiaries acquire the right to withdraw only if (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating either of these account types reserves the right to: (1) change beneficiaries; (2) change account types; and (3) withdraw all or part of the deposit at any time. The account is subject to garnishment, execution, levy and setoff rights against the owner, but not against a POD payee.
JOINT ACCOUNT - WITH SURVIVORSHIP (and not as tenants in common)
If such an account is indicated on our signature card, each joint tenant intends and agrees that the account balance upon his death shall be the property of the surviving joint tenant, and if more than one survives, they shall remain as joint tenants with rights of survivorship between them. A garnishment, execution, setoff or levy against one of the joint account owners reaches all of the funds in the account, unless there is a clear and convincing evidence of a different intent as to the relative contributions of each owner.
ORGANIZATION ACCOUNTS – We will usually require a separate authorization form designating the person permitted and conditions required for withdrawal from any account in the name of a legal entity such as a partnership, corporation, or other organization. We will honor such authorization according to its terms until it is amended or terminated in writing by the governing body of such organization.
STOP-PAYMENTS – A stop-payment order must be given in the manner required by law and must be received in time to give us a reasonable opportunity to act on it before our stop-payment cut-off time. Additional limitations on our obligation to stop-payment are provided by law. You may stop payment on any item drawn on your account whether you sign the item or not. A release of the stop-payment request may be made only by the person who initiated the stop-payment. To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee, and it must be received in time to give us a reasonable opportunity to act on it.
Our stop-payment cut-off hour is 3:00 P.M. on the next banking day after the banking day on which we receive the check.
TELEPHONE TRANSFERS – A transfer of funds from this account to another account with us, by telephone, if otherwise permitted or arranged for, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. We restrict the number of transfers from a savings account to another account, or third parties, to a maximum of six per month (less the number of certain “preauthorized transfers” during the month). Other account transfer restrictions are shown elsewhere in this disclosure.
AMENDMENTS AND TERMINATION – We may amend any term of this agreement, from time to time hereafter, upon giving reasonable notice to you. Reasonable notice may consist of posting notice of such changes in our building for a reasonable period of time, enclosing notice in the statement of this account, or separate notice by mail. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to any one of you is notice to all of you.
STATEMENTS – You must examine your statements and items with reasonable promptness after we send or make them available to you. If you find an unauthorized signature or alteration, you must notify us promptly and in any event not later than 30 days from when we send or make your statement and items available to you. If you do not satisfy both of these requirements, then:
(1) you cannot assert the unauthorized signature or alteration against us, even if we are unable to show a loss due to your failure, and (2) you cannot assert any unauthorized signature or alteration by the same wrongdoer on items paid by us after the reasonable time mentioned above elapses, but before we receive your notice. We lose these protections if we fail to exercise ordinary care in paying an item with an unauthorized signature or alteration, unless you do not notify us of the problem within 60 days of when we send or make available to you the statement and items.
You must inform us of any other sort of account problem within 60 days of when we make your statement and items available to you or lose any claim against us related to the problem.
ACCOUNT TRANSFER – This account may not be transferred or assigned without our prior written consent.
DIRECT DEPOSITS – If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
TEMPORARY ACCOUNT AGREEMENT – If this option is selected, this is a temporary account agreement. Each person who signs in the space designated for signatures on the signature card (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.
SET-OFF – You agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons’ or legal entity’s right to withdraw. If the debt arises from a note, “any due and payable debt” includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note.
This right of set-off does not apply to this account if; (a) it is an IRA or a tax-deferred retirement account; or (b) the debt is created by a consumer credit transaction under a credit card plan; or (c) the debtor’s right of withdrawal only arises in a representative capacity.
AUTHORIZED SIGNERS (Individual Accounts Only) – An authorized signer is someone to whom you give all rights you have now or in the future to make withdrawals and deposits. Merely by designating an authorized signer you do not intend to give any ownership rights in the account.
________________________________________________________
Top
ELECTRONIC FUND TRANSFERS - YOUR RIGHTS AND RESPONSIBILITIES
The Electronic Fund Transfers we are capable of handling are indicated below, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.
DIRECT DEPOSITS – You may make arrangements to pay certain direct deposits to be accepted into your Checking or Savings accounts.
PREAUTHORIZED WITHDRAWALS – You may make arrangements to pay certain recurring bills from your Checking or Savings accounts.
ELECTRONIC CHECK CONVERSION - Home State Bank allows electronic check transactions to post to your checking accounts. Returned check charges assessed by merchant.
CHECK CARD TRANSFERS - types of transfers and dollar limitations – You may use your Check Card wherever VISA check cards are accepted by using your check card and personal identification number to:
make purchases of items you would generally write a check for with a check card.
obtain cash advances from your checking acount with a check card.
maximum limit for check card transactions is $1,000.00 per day.
You may access your account(s) by ATM machines using your Check Card and your personal identification number to:
make deposits to checking account(s) with a check card
make deposits to savings account(s) with a check card
get cash withdrawals from checking account(s) with a check card
you may withdraw no more than $200.00 per day
get cash withdrawals from savings account(s) with a check card
you may withdraw no more than $200.00 per day
transfer funds from checking to savings account(s) with a check card
transfer funds from savings to checking account(s) with a check card
Get information about:
The account balance of your checking account with your check card
The account balance of your savings account with your check card
$1.00 fee for non-Shazam ATM machines
Monthly fee of $1.00 to your checking account for a check card (no monthly charge for photo check card)
Replacing lost check card fee is $5.00
An additional surcharge may be imposed by the bank owning the ATM machine.
Some of the ATM services may not be available at all ATM machines.
You may not put a stop payment on purchases made with a check card.
Please also see Limitations on Frequency of Transfers section regarding limitations that apply to ATM transfers.
LIMITATIONS ON FREQUENCY OF TRANSFERS – In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:
Transfers from a Passbook Savings or Money Market Account to another
account or to third parties by preauthorized, automatic, or telephone trans
fers are limited to six per month with no transfers by check, debit card, or
similar order to third parties.
Termination –
You may terminate the electronic fund transfer agreement by calling us at
(320) 231-1118 or writing us at Home State Bank, Box 1620, Willmar, MN 56201,
in time for us to receive your request three (3) days or more before
the payment is scheduled to be made. If you call us, we may also require
you put your request in writing and get it to us within fourteen (14) days
after you call.
We may terminate the electronic fund transfer agreement by written notice.
CHARGES FOR ELECTRONIC FUND TRANSFERS
We do not charge for direct deposits to any type of account.
We do not charge for preauthorized withdrawals from any type of account.
Except as indicated elsewhere, we do not charge for electronic fund transfers.
RIGHT TO 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.
Direct Deposits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, the person or company making the deposit will tell you every time they send us the money. If the only possible transfers to or from your account are preauthorized deposits, you will get a quarterly statement from us.
Direct Deposits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (320) 382-6111 to find out whether or not the deposit has been made. If the only possible transfers to and from you account are direct deposits, you will get a quarterly statement from us.
Periodic Statements. You will get a monthly account statement from us for your Checking account(s). You will get a monthly statement from us for your Savings account(s), unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.
STOP PAYMENT PROCEDURES AND NOTICE OF VARYING AMOUNTS
Right to Stop Payment and Procedure for Doing So. If you have told us in advance to make regular payments, here is how:
Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request three (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 fourteen (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, ten (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 out side certain limits that you set.)
Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one of these payments three (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.
OUR 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 a 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 terminal or system was not working properly or 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 we have taken.
(6) There may be other exceptions in our agreement with you.
DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES
We will disclose information to third parties about your account or the transfers you make:
(1) Where it is necessary for completing transfers.
(2) In order to verify the existence and condition of your account for a third
party, such as a credit bureau or merchant,
(3) In order to comply with government agency or court orders; or
(4) If you give us written permission.
VISA LIABILITY
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 of any unauthorized transactions. Your liability for unauthorized Visa point of sale debit card transactions that take place on the Visa system is Zero dollars ($0.00). 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 Liability for Unauthorized Transfers paragraph below) 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. 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 below. This will help prevent unauthorized access to your account and minimize any inconvenience.
VISA is a registered trademark of Visa International.
UNAUTHORIZED TRANSFERS
(a) Liability Disclosure. Tell us at once if you believe your card has been lost or stolen. Telephoning is the best way of keeping your possible losses down.
We will be liable for all unauthorized transfers unless the unauthorized transfer was (1) due to the loss or theft of your card. If due to the loss or theft of your card, and we are notified within two (2) business days, your liability is zero. If notification is after two (2) business days, your liability is $50. Also, if you fail to notify us within sixty (60) days after you receive a statement containing unauthorized transfers, you could be liable for up to $50 for unauthorized transfers appearing on the statement or occurring during the 60 day period, plus the amount of unauthorized transfers that occur after the 60 day period, if we can prove that we could have stopped someone from taking the money if you had told us on 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.
(b) Address and Telephone Number. If you believe your card 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 in our staff & locations section.
RIGHT TO BRING CIVIL ACTION
You may bring civil action against any person violating any provision of Minnesota Statutes 47.69 (governing consumer privacy and unauthorized withdrawals).
If you prevail in such an action, you may recover the greater of your actual damages or $500. You may also be entitled to recover punitive damages, your court costs and reasonable attorney’s fees.
TIME NEEDED TO COMPLETE TERMINAL TRANSACTIONS
Withdrawals made at a terminal will normally be completed and charged to your account within the next business day.
Deposits made at a terminal will normally be credited to your account within the next business day.
Transfers between accounts will normally be completed within the next business day.
ERROR RESOLUTION
In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed in 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 sixty (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 ten (10) business days.
We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days [ninety (90) days if the transfer involved a point-of-sale transaction or a foreign initiated transfer] to investigate your complaint or question. If we decide to do this we will recredit your account within ten (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 investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not recredit your account.
If we decide that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
------------------------------------------------------
Top
PRIVACY POLICY
Home State Bank recognizes the customers right to privacy. You have the right to expect your personal financial information will remain private and secure. Home State Bank maintains standards, and expects all employees of Home State Bank to adhere to these privacy standards, to ensure that your information is private and secure at all times.
We collect nonpublic personal information about you from the following sources:
Information we receive from you on applications or other forms.
Information about your transactions with us and our employees,
or affiliates.
Information we receive from a consumer reporting agency.
Home State Bank collects, retains, and uses confidential customer information only when it is reasonably believed that the information will help administer the bank’s business or provide products, services, and other opportunities to the customer.
Customer information is used to:
Protect and administer customer records, accounts, and funds.
To comply with certain laws and regulations.
To help the bank design or improve our products and services.
To understand the customers financial needs in order to provide you quality products and services.
Home State Bank may disclose all of the information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with which we have joint marketing agreements.
We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.
PROTECTION OF INFORMATION:
Employee access to your personally identifiable customer information is limited to those with a business reason to know such information. Our employees are educated on the importance of maintaining confidentiality and customer privacy. Because of the importance of these issues, all Home State Bank employees are responsible for maintaining the confidentiality of customer information. Employees who violate these Privacy Principles will be subject to disciplinary measures.
Home State Bank is committed to the security of the customer’s financial and personal information. The bank’s operational and data processing systems are in a secure environment that protects customer account information from being accessed by third parties. Access to customer information is granted only in accordance with the bank internal security standards.
Home State Bank recognizes our customers concern in how we handle privacy issues with third parties engaged in a business relationship with us. If personably identifiable customer information is provided to a third party, we will require the third party to adhere to similar privacy principles that provide for keeping such information confidential.
Home State Bank values all of our customer relationships. We want you to understand how we use the information you provide and our commitment to ensuring your personal privacy. If you have any questions about how Home State Bank protects your confidential information, please contact us at one of our five locations.
About "cookies"
To provide better service and a more effective website, we use "cookies" as part of our interaction with your browser. A "cookie" is a small text file placed on your hard drive by our web pag server. We do not use cokies to get data from your hard drive or to get your email address or personal identifying information.
Cokies are commonly used on websites and do not harm your system . By configuring your preferences or options in your browser, you determine if and how a cokie will be accepted. We use cookies to determine if you have previously visted our web site and for a number of administrative purposes.
Portecting Your Children
Our website is not targeted tor marketed to children under the age of thirteen. We repsect the privacy of your children, and we comply with the practices established under the Children's Online Privacy Protection Act. We do not knowingly collect or retain personally identifiable information from consumers under the age of thirteen.
------------------------------------------------------
Top
INTERNET BANKING
It is understood that access to Home State Bank’s Internet Banking product is an ongoing access and that to withdraw I need to contact Home State Bank and let them know of my desire to withdraw from the program. I will notify Home State Bank in writing at such time that I choose to withdraw from the Internet Bank service, and in such a manner as to afford the bank a reasonable time to act on it.
Account Access: The web site, www.homestatebankofmn.com shall be a public site, requiring no access codes, sign up forms, etc. From the home page there will be a link to our secure Internet banking site. It shall be the policy of Home State Bank to require customers to complete and sign an Internet Bank application form. This form will allow for the collection of personal identifying information for verification purposes and the collection of e-mail addresses.
Currently, neither the public nor the secured portion of the web site allows for account opening of deposits or loans.
Telebank: The initial codes given to me allow me access to TeleBank as well as first time access to Online Banking.
Transfers: I hereby authorize Home State Bank to allow account inquiries and funds transfers between any accounts of which I am an owner. Transfers will only be completed for accounts, which allow such transactions. These transfers will be entered by my use of a password through Home State Bank Internet Banking system on either a recurring or nonrecurring frequency.
Electronic Bill Payment: I hereby authorize Home State Bank to debit my checking accounts(s) for the amount and frequency as entered through Home State Bank’s Internet Banking product. These bill payment requests will be only completed for accounts that allow such transaction. These transactions will be entered by my use of a password through Home State Bank’s Internet Banking system on either a recurring or non-recurring frequency. There will be a service charge of $.50 per bill paid.
------------------------------------------------
Top
24-HOUR TELEPHONE BANKING
It is understood that the use of 24-Hour Telephone Banking constitutes an agreement to these rules and regulations which shall apply in addition to those which make up the underlying account relationship(s) you have with Home State Bank.
1. Liability for Use: You are responsible for any transactions you make with your 24-Hour Telephone Banking Access Number and Personal Identification Number (PIN). II you furnish another person with your 24-Hour Telephone Banking Access Number and PIN, you will be deemed to have authorized all requests and transactions which may take place until you give actual notice to the Bank that further transactions are unauthorized.
2. Unauthorized Transfers: Tell us at once if you believe your 24-Hour Telephone Banking Access Number and PIN have been lost or stolen. Telephoning is the best way of keeping your possible losses down.
See additional information on your liability elsewhere in this disclosure.
Telephone Number and Address: If you believe that your 24-Hour Telephone Banking Access Number and PIN have been lost or stolen or someone has transferred or may transfer money from your account without your permission, call or write to:
Home State Bank
517 Pacific Ave, Box 98
Kandiyohi, MN 56251
320-382-6111
Home State Bank
1610 E. Hwy 12, Box 1620
Willmar, MN 56201
320-231-1118
Home State Bank
200 Milky Way S, Box 217
Cosmos, MN 56228
320-877-7211
Home State Bank
1435 E. Hwy 12
Litchfield, Mn 55355
320-593-2001
Home State Bank
Located at Cash Wise Foods
1020 Hwy. 15 South
Hutchinson, MN 55350
320-587-2477
3. Account Access: You may use your 24-Hour Telephone Banking Access Number and PIN to transfer funds between your checking savings, or other accounts whenever you request. Some limitations do apply on specific accounts - Money Market Savings and IRA’s Requests through 24-Hour Telephone Banking can only be initiated through the use of your 24-Hour Telephone Banking Access Number and PIN, and then only to those accounts which are owned (or co-owned) by you. Any transaction which consists of a withdrawal, transfer or inquiry from an authorized account, will be an order and authorization to the Bank to pay - complete the request from your account. A transaction will not be completed, however, if it would create an overdraft in your account, unless you have entered into another agreement with the Bank providing for the borrowing or transfer of funds to cover such transactions.
4. Protection of Your 24-Hour Telephone Banking Access Number and Personal Identification Number (PIN): Your 24-Hour Telephone Banking Access Number and PIN are provided solely for your personal use and protection. You agree to: (a) follow the current rules and regulations governing use of 24-Hour Telephone Banking; (b) safely keep your Access Number and PIN and not permit anyone else to use them; (c) not record or make the 24-Hour Telephone Banking Access Number and PIN available to anyone else. You will immediately report to the Bank any loss, theft, or known or suspected use or disclosure of the Access Number and PIN.
The Bank may terminate your privilege of using 24-Hour Telephone Banking or may, subject to the provision of these rules, withhold approval of any transaction at any time.
----------------------------------------------
Top
FUNDS AVAILABILITY DISCLOSURE
This policy statement applies to all deposit accounts, including “transaction” accounts and savings accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Checking accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy.
Our policy is to make funds from our deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays as observed by the Federal Reserve Bank. If you make a deposit before the following times at each respective branch office: Kandiyohi - 2:30 P.M., Willmar - 2:00 P.M., Cosmos - 2:00 P.M., Litchfield - 2:00 P.M. and Hutchinson - 2:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit at a respective branch office after the above listed times or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
If you make a deposit at an ATM before 3:00 P.M. on a business day that we are open, we will consider the following business day to be the day of your deposit.
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
LONGER DELAYS MAY APPLY
In some cases, we will not make all of the funds that you deposit by check available to you on the first day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100 of your deposits will be available on the first business day after we receive your deposit.
If we are not going to make all of the funds from your deposit available on the first business day after we receive your deposit, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
We believe a check you deposit will not be paid.
You deposit a credit card check.
You deposit checks totaling more than $5,000 on any one day.
You redeposit a check that has been returned unpaid.
You have overdrawn your account repeatedly in the last six months.
There is an emergency, such as failure of communications or computer equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the eleventh business day after the day of your deposit.
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules will apply during the first thirty (30) days your account is open.
Funds from electronic direct deposits into your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
----------------------------------------------------
Top
TRUTH-IN-SAVINGS DISCLOSURE
HOME VALUE ACCOUNT
Minimum opening balance: $100
Fees:
An overdraft charge of $30.00 per item will be charged for each overdraft. Please see the Common Features section for details on this account.
HOME INTEREST CHECKING
Rate Information: Your interest rate and annual percentage yield may change.
Frequency of rate changes: We may change the interest rate on your account at any time.
Determination of rate: At our discretion, we may change the interest rate of your account.
Compounding and crediting frequency: Interest will be compounded every month. interest will be credited to your account every month.
Requirement to open account: Must have a direct deposit to the account.
Minimum balance: There is no required minimum balance.
Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits Interest begins to accrue on the first business day after the banking day you deposit non-cash item (For example, checks).
HOME ADVANTAGE CHECKING ACCOUNT
Minimum opening balance: $300
Minimum balance to avoid imposition of fees – A service charge fee of $6.00 will be imposed every statement cycle if the balance in the account falls below $300.00 any day of the cycle.
Fees:
A service charge fee of $.20 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account). This fee will apply if the minimum daily balance falls below $300.00.
NOW ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change.
Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account – You must deposit $1,000.00 to open this account.
Minimum balance to avoid imposition of fees – A service charge fee of $9.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
MONEY CHECKING ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change.
Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account – You must deposit $5,000.00 to this account.
Minimum balance to avoid imposition of fees – A service charge fee of $12.00 will be imposed every statement cycle if the balance in the account falls below $5000.00 any day of the cycle.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits – Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations:
Transfers from a Money Checking Account to another account or to third parties by check are limited to six per month. The minimum withdrawal by check is $250.00
ROYAL ADVANTAGE SENIOR CLUB (55 years & older)
Minimum Opening Balance - $100.00
Fees - An overdraft charge of $25.00 per item will be charged for each overdraft. Please see Common Features section for other details on this account.
Travelers Checks - No Charge
Personal Checks - Wallet style, 4 colors available only.
REGULAR PASSBOOK ACCOUNT
Rate Information – Interest paid on balances of $100.00 or more. Your interest rate and annual percentage yield may change.
Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every day. Interest will be credited to your account every month.
Minimum balance to avoid imposition of fees – A service charge fee of $4.00 will be imposed every month if the balance in the account falls below $50.00 any day of the month.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits – Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations:
Transfers from a Regular Passbook account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to six per statement cycle with no transfers by check, draft, debit card, or similar order to third parties.
MONEY MARKET ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change.
Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account – You must deposit $2,500.00 to open this account.
Minimum balance to avoid imposition of fees – A service charge fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Transaction limitations:
Transfers from a Money Market account to another account or to third parties by pre-authorized automatic or telephone transfer are limited to six per month, of which no more than three can be by debit card, or similar order to third parties.
KIDS CLUB:
HOME STATE BANK SUPER SAVERS
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account. The rate on this type of account will be 1% over Regular Passbook Rate.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Minimum balance to earn interest - Interest will be paid on balances of $50 or more.
Minimum balance to avoid imposition of fees - There is no minimum balance required. There is a limit of 2 withdrawals per month, each withdrawal in a month thereafter has a $4.00 charge.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations - No telephone or automatic transfers are allowed. Withdrawals are limited to 2 per month, each additional withdrawal in the month has a charge of $4.00. First $5.00 deposit entitles the child to receive a Home State Bank piggy bank.
COMMON FEATURES
The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.
|
Replace lost ATM card....................................... |
$5.00 |
|
Use of non-Shazam ATM (Foreign ATM Fee).... |
$1.00 |
|
Replace lost VISA Check card........................... |
$5.00 |
|
Monthly VISA Check Card Fee......................... |
$1.00 |
|
Check Printing.................................................... |
(fee depends on style of check ordered) |
|
Cashier’s checks................................................ |
$5.00 per check |
|
Traveler’s checks............................................... |
$1.50 per $100.00 of checks |
|
Traveler’s checks (2 signatures).......................... |
$2.00 per $100.00 of checks |
|
American Express Gift Checks............................ |
$2.50 (per $100) |
Deposited checks (any other items)
returned unpaid up to.......................................... |
$3.00 |
An account is dormant or abandoned if for one year or more, your account statements are returned for an incorrect address..........$10/mo.
|
Levies................................................................ |
$65.00 |
|
Overdraft (each debit or check paid): |
$30.00 per item |
|
|
Nonsufficient funds (NSF) item (each).................. |
$30.00 |
|
Account activity printout..................................... |
$1.00 per page |
|
Account research............................................... |
$25.00 per hour |
|
Account balancing assistance.............................. |
$25.00 per hour |
|
Stop payments (all items)................................... |
$20.00 |
Account closed within 90 days of
opening............................................................. |
$25.00 |
|
Photocopies...................................................... |
$.25 |
Wire transfers: |
|
|
Incoming................................................... |
$10.00 |
|
Outgoing................................................... |
$20.00 |
|
International.............................................. |
$35.00 |
|
Non-customers......................................... |
$25.00 |
|
Telephone Transfers........................................ |
$1.00 |
|
Savings account overdrafts.............................. |
$10.00 |
|
Safe Deposit box rental................................... |
minimum of $15.00 |
|
Drilling of box with lost keys........................... |
minimum of $125.00 |
|
Safe Deposit box key deposit......................... |
$10.00 |
|
Counter Checks............................................. |
$0.25 per check |
|
Money orders................................................ |
$3.00 per check |
|
Microfilm copies............................................ |
$2.00 per item |
|
Coin counting (non-customer)....................... |
minimum of $2.00 |
|
Check cashing (non-customer)...................... |
minimum of $5.00 plus phone call |
Copies: Checks, Deposits or
Statements................................................... |
$5.00 per item |
|
Indemnity Bonds preparation................................................... |
$10.00 |
|
Deposit bags non-locking.............................. |
$5.00 |
|
Deposit bags locking.................................... |
$15.00 |
|
We reserve the right to at any time require not less than 7 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
____________________________________________________
Top
517 Pacific Ave, Box 98
Kandiyohi, MN 56251
320-382-6111
1610 E. Hwy 12, Box 1620
Willmar, MN 56201
320-231-1118
200 Milkway S, Box 217
Cosmos, MN 56228
320-877-7211
1435 E. Hwy 12
Litchfield, Mn 55355
320-593-2001
Inside Cashwise Foods
1020 Hwy. 15 South
Hutchinson, MN 55350
320-587-2477
*Located at Cash Wise Foods
Top
| |
|
Home State Bank Deposit Disclosure