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Regulation E Initial Disclosure
 

Consumer Liability

Tell us AT ONCE if you believe your ATM card, ATM Personal Identification Number (PIN), VISA CHECKCard or CHECKCard PIN has been lost or stolen, or if you believe that an electronic fund transfer 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 of 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 ATM card or CHECKCard or your PIN, you can lose no more than $50 if someone used your card or PIN without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card or PIN, and we can prove we could have stopped someone from using your card or PIN 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 hospital stay) kept you from telling us, we will extend the time periods.

Contact Information in the Event of Unauthorized Transfer

If you believe your card or PIN has been lost or stolen, call us at (601)735-1752 or Toll Free 1-866-408-3582 or write us at First State Bank, Account Services Department, P.O. Box 506, Waynesboro, MS 39367.

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 card and PIN to:
  • Withdraw cash from your checking or savings account.
  • Make deposits to your checking account.
  • Transfer funds between your checking and savings account when you request.
  • Pay for purchases at places that have agreed to accept the card or PIN.
  • 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:

  • Pay for purchases.
  • Pay bills.
Limitation on Dollar Amount of Transfers
  • The daily purchase limit will be the lesser of $2,500 or the current checking account balance.
  • The daily ATM limit of $500 will remain the same and is NOT considered part of the daily purchase limit.
Confidentiality

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

  • Where it is necessary form 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.
Documentation of Transfers
  • Terminal Transfers. You can get a receipt at the time you make any transfer to or from your account using one of our ATMs.
  • 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 (601)735-1752 or Toll Free at 1-866-408-3582 to find out whether or not the deposit has been made.
  • Periodic Statements. For checking accounts, you will get a monthly account statement. For savings accounts, you will get a monthly account statement for any month in which electronic fund transfer activity has occurred. If no electronic fund transfer activity has occurred, you will receive the statement at least quarterly.
Preauthorized Payments

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 (601)735-1752 or Toll Free 1-866-408-3582 or write us at First State Bank, Account Services, P.O. Box 506, Waynesboro, MS 39367, 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 in within 14 days after you call. (We will charge you $35 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, 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 outside 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 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 Institutions 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:
  • If, through no fault of ours, you do not have enough money in your account to make the transfer.
  • If the transfer would go over the credit limit on your overdraft line.
  • If the automated teller machine where you are making the transfer does not have enough cash.
  • If the terminal or system was not working properly and you knew about the breakdown when you started 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.
Error Resolution Procedures

In case of errors or questions about your electronic transfers, telephone us at 601-735-1752 or toll free at 1-866-406-3582 or write us at P.O. Box 506, Waynesboro, MS 39367 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 sent you the FIRST statement on which the error or problem appeared.

  • Tell us your name and account number (if any).
  • 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.
  • 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 10 business days. We will determine whether an error occurred within 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 45 days to investigate your complaint or question. If we decide to do this, we will 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 investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within 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.

ATM Fees

When you use an ATM not owned by us, you may be charged a fee by the ATM operator (or any network used) and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer.

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