Please read the following disclosures carefully.
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ELECTRONIC FUND TRANSFERS
Please read the following disclosure carefully, it contains important information concerning your ATM card and Check card. This information details the types of transactions permitted with your card and your rights and obligations where the card is concerned. Please keep this information for future reference.
FINANCIAL INSTITUTION'S LIABILITY
If we do not complete a transfer to or from you 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 (for example fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
- There may be other exceptions stated in our agreement with you.
CONSUMER LIABILITY
Tell us at once if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. During non-business hours the number to call is 1-800-300-3509. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than the lesser of $50 or the amount of the unauthorized transfer if someone used your card and/or code without your permission. (If you believe you card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose not more than $50 if someone used your card and/or code without your permission.)If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code 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, 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 a hospital stay) kept you from telling us, we will extend the time periods.
ADDITIONAL LIMITS ON LIABILITY FOR VISA CHECK CARD
When the Visa check card is used for point-of-sale transactions there are additional limits and liabilities. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen check card, when used for point-of-sale transactions, if you report the loss or theft of the card within 2 business days of when you discover the lost or theft of the card. If you do NOT tell us within 2 business days, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us.CURRENCY CONVERSION
When you use your card at a merchant that settle in currency other than US dollars the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a government mandated rate or the wholesale market rate in effect the day before the processing date, increased by 1%.ADVISORY AGAINST ILLEGAL USE
You agree not to use your card(s) for illegal gambling or other illegal purposes. Display of a payment card logo by, for example an on-line merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.WHO TO CONTACT IN THE EVENT OF UNAUTHORIZED TRANSFER
If you believe you card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call:
Toll-free:
1-866-866-2265Write:
InsBank
2505 21st Avenue South
Suite 204
Nashville, TN 37212BUSINESS DAYS
For purposes of these disclosures, our business days are (Monday through Friday), excluding Federal Holidays.CONFIDENTIALITY
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.
ERROR RESOLUTION
In case of errors or questions about Electronic Transfers, Telephone us at (1-866-866-2265) or write us at (InsBank, 2505 21st Avenue South, Suite 204, Nashville, TN 37212) 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 60 days after we sent the FIRST statement on which the problem or error appeared.
- Tell us your name and account number
- 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 re-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.
We will tell you the results within three business days after completing our investigation. If we decide that there was not an error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
ATM TRANSFERS
You may access your accounts with your ATM card by using your ATM personal identification number (PIN). The following are the types of transfers you can make along with their dollar limitations and charges.
Get cash withdrawals from Personal Checking or Personal NOW account(s) with an ATM/Check Card.
- You may withdraw no more than $300.00 per business day
- InsBank will absorb the cost of up to five (5) transactions per statement cycle for transactions made at ATMs not owned or operated by InsBank.
Transfer funds from Personal NOW to Personal Checking account(s) with an ATM/Check Card
- InsBank will absorb the cost of up to five (5) transactions per statement cycle for transactions made at ATMs not owned or operated by InsBank.
Transfer funds from Personal Checking to Personal NOW account(s) with an ATM/Check Card
- InsBank will absorb the cost of up to five (5) transactions per statement cycle for transactions made at ATMs not owned or operated by InsBank.
Get information about the account balance of your Personal checking and Personal NOW account(s)
- InsBank will absorb the cost of up to five (5) inquiries per statement cycle for transactions made at ATMs not owned or operated by InsBank.
Some of these services may not be available at all of these terminals.
CHECK CARD
You may access your checking account(s) with your check card to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a credit card can do (that a participating merchant will accept with a credit card).
Limitations
Point of sale transactions and charges using your card: You may not exceed $1,000 in transactions per day with your check cardFees
There will be a $3.00 charge for a lost ATM/Check Card.Documentation
You will get a monthly statement from us for your Personal checking and Personal NOW Account(s).You get a receipt at the time you make any transfer to or from you account.
Preauthorized Payments
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 1-866-866-2265, 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 within 14 days after you call. We will charge you $20 for each stop-payment order you give.Liability for failure to stop payment of preauthorized transfer
If you order us to stop one of these payments 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.
NOTICE OF ATM/NIGHT DEPOSIT FACILITY USER PRECAUTIONS
As with all financial transactions, please exercise discretion when using an ATM or night deposit facility. For you own safety, be careful. The following suggestions may be helpful:
- Prepare for your transactions at home (for instance, by filling out a deposit slip) to minimize your time at the ATM or night deposit facility.
- Mark each transaction in your account record, but not while at the ATM or night deposit facility. Always save your ATM receipts. Don't leave them at the ATM or night deposit facility because they may contain important account information.
- Compare your records with the account statements you receive.
- Don't lend your ATM card to anyone.
- Remember, do not leave your card at the ATM. Do not leave any documents at a night deposit facility.
- Protect the secrecy of you Personal Identification Number (PIN). Protect your ATM card as though it were cash. Don't tell anyone your PIN. Don't give anyone information regarding you ATM card or PIN over the telephone. Don't write you PIN where it can be discovered. For example, don't keep a note of you PIN in your wallet or purse.
- Prevent others from seeing you enter your PIN by using your body to shield their view.
- If you lose your ATM card or if it is stolen, promptly notify us. You should consult the other disclosure you have received about electronic fund transfers for additional information about what to do if your card is lost or stolen.
- When you make a transaction, be aware of your surroundings. Look out for suspicious activity near the ATM or night deposit facility, particularly if it is after sunset. At night, be sure that the facility (including the parking area and walkways) is well lighted. Consider having someone accompany you when you use the facility, especially after sunset. If you observe any problem, go to another ATM or night deposit facility.
- Don't accept assistance from anyone you don't know when using an ATM or night deposit facility.
- If you notice anything suspicious or if any other problem arises after you have begun an ATM transaction, you may want to cancel the transaction, pocket your card and leave. You might want to consider using another ATM or coming back later.
- Don't display your cash; pocket as soon as the ATM transaction is completed and count the cash later when you are in the safety of your own car, home or other secure surrounding.
- At a drive-up facility, make user all the car doors are locked and all of the windows rolled up, except the driver's window, Keep the engine running and remain alert to your surroundings.
- We want the ATM and night deposit facility to be safe and convenient for you. Therefore, please tell us if you know of any problems with a facility. For instance let us know if a light is not working or there is any damage to a facility. Please report any suspicious activity or crimes to both the operator of the facility and the local law enforcement officials immediately.
FUNDS AVAILABILITY
Please read our Funds Availability before clicking the apply button below.
YOUR AVAILABILITY TO WITHDRAW FUNDSOur policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposit 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.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and federal holidays. If you make a deposit before (3:00 p.m. Central Standard Time) 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 after (3:00 p.m. Central Standard Time) or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
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 business 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. The first $100 of your deposits, however, may be available on the first business day.
If we are not going to make all of the funds from your deposit available on the first business day, 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.
If you will need the funds from a deposit right away, you should ask us when the funds will be available.
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 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 computer or communications 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 30 days your account is open.
Funds from electronic direct deposits to 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 fifth 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 fifth business day after the day of your deposit.
FEE SCHEDULE
Account Reconciliation: $30.00 Per Hour
(One hour minimum)Account Research: $20.00 per hour ATM Fees: $1.50 per transaction in excess of 5 per month ATM/Debit card replacement: $3.00 ACH Transfer: No charge Cashiers Check: $5.00 Returned deposited item: $3.00/$8.00 with special handling Check Printing: Varies depending on style of checks Collection Item: $15.00 Dormant Account Fee: $5.00 Internet Bill Pay Fee Consumer: $4.95 per month Garnishments: $25.00 Levies: $25.00 Money Market
excessive withdrawals:$10.00 per item Overdraft/Non-sufficient funds: $25.00 Photocopies: $ 1.50 each Return checks on loan payments: $15.00 Statement Printouts: $1.50 Stop Payment orders: $20.00 Wire Transfers Incoming: $10.00 Wire Transfers Outgoing: $12.00 Daily Overdraft Fee: $3.00
TRUTH IN SAVINGS
Truth in Savings Disclosure This disclosure contains information about terms, fees, and Interest rates for accounts we offer.
PERSONAL INTEREST CHECKING ACCOUNT / ELITE INTEREST CHECKING ACCOUNT
Interest rates are tiered to increase your earnings when accounts are consolidated. All collected funds in your account earn at a blended rate based upon the applicable balance tier.
Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Board. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Limitations: You must deposit $100.00 to open this account.
Account Fees: A service charge of $8.00 per month will be waived if a minimum balance of $1,000.00 is maintained in the Personal Interest Checking Account or if an average balance of $2,000.00 is maintained in the Personal Interest Checking Account or if a minimum $5000.00 is maintained in combined balances in all deposit accounts.
PERSONAL CHECKING
The Personal Checking Account is a non-interest bearing account designed for convenience at a reduced fee.
Limitations: You must deposit $100.00 to open this account.
Account Fees: A monthly service charge of $8.00 may be waived if a $500.00 minimum balance is maintained.
THE PERSONAL MONEY MARKET ACCOUNT
Interest rates are tiered to allow higher rates of return as your balances increase. All collected funds in your account earn at a blended rate based upon the applicable balance tier.
Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Rate Board. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Limitations: You must deposit $2,500.00 to open this account. You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Three (3) of these transfers may be made by check, draft, debit card or similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
Account Fees: Additional withdrawals are $10.00 each. Excessive withdrawals may require that the account be closed. The service charge of $10.00 per month may be waived by maintaining a $2,500.00 minimum balance.
Important Information About Your Checking Account
Substitute Checks and Your RightsWhat is a substitute check?
To make check processing faster, federal law permits banks to replace original checks with “substitute checks”. These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states; “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment just like the original check.Some or all of the checks that you receive back from us may be substituted checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.
What are my rights regarding substitute checks?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest of the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.
If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim.
We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.
How do I make a claim for a refund?
If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at Research Department, 2505 21st Ave. South, Ste. 204, Nashville TN 37212, (615) 515-2265. You must contact us within 40 calendar days of the date we mailed (or otherwise delivered by a means to which you agreed) he substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.Your claim must include:
- A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
- An estimate of the amount of your loss;
- An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
- A copy of the substitute check and the following information to help us identify the substitute check: identifying information for example the check number, the name of the person to whom you wrote the check, and the amount of the check.
Customer Identification Requirements
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all banks to obtain, verify, and record information that identifies each person who opens an account.
What that 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.
In all cases, protection of our customer’s identity and confidentiality is the Bank’s pledge to you.
Fair Credit Reporting
In order to comply with regulations, if applicable, InsBank may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected on your credit report.
