Disclosures

Availability of Funds
Electronic Funds Transfers
Fees and Service Charges
Simple Checking Account
Statement Savings

 Availability of Funds:
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 $5,525 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 when the funds will be available.  They will generally be available no later than the seventh business day after the day of your deposit. 

Special Rules for New Accounts

If you are a new customer, the following special rules may 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 $5,525 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.  The excess over $5,525 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 $5,525 will not be available until the next business day after the day of your deposit.  Funds from all other check deposits may not be available until the thirtieth business day after the day of your deposit. 

 

Electronic Funds Transfers:
The terms and conditions addressed below apply to you when you use Cayuga Lake National Bank's  Electronic Funds Transfer (EFT) services.  Please read this disclosure carefully because it tells you your rights and obligations for EFT activity.  You should keep this notice for future reference. 
Definitions
Account means your deposit account(s) at the Bank.
Business Days means the business days when the Bank's branches are open.  Our business days are Monday through Friday.  Holidays are not included.
Electronic Fund Transfers means any transfer of funds that is initiated through an electronic terminal, telephone, computer, magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account.  The term includes, but is not limited to point-of-sale (POS) transfers; automated teller machine transfers; direct deposits or withdrawal of funds; transfers initiated by telephone; and transfers resulting from debit card transactions, whether or not initiated through an electronic terminal. 
New Account means that an account is considered new during the first 30 calendar days after the account is established.

 Transfer Types and Limitations
You may use your Debit Card at any Automated Teller Machine (ATM) that displays the Visa®, Plus®,  and NYCE® logo to:
     a. withdraw funds from your transaction account(s)    - regular checking, NOW, Super NOW account (s), and statement savings account(s).
     b. transfer funds between your transaction account(s) - regular checking, NOW, Super NOW account(s), and statement savings.  Your transfer will be available immediately                  for ATM and POS transactions.
     c. obtain available balances from your transaction account (s) - checking, NOW, Super NOW account(s), and statement savings account(s).

You may also use your Debit Card at any retail establishment where Visa® Cards are accepted to purchase goods and services and/or obtain cash where permitted from a merchant.  These types of transactions are POS transactions.  We reserve the right to block countries outside of the U.S.A.  Your overdraft line of credit, Chek-Tek will automatically transfer to your transaction account as permitted.
You may authorize a Merchant to electronically charge your account in place of a paper check, including electronic collection of any applicable check charge.
Your transaction account must be the primary account.  A POS transaction is permitted only on your primary account.  We do not allow a POS transaction on statement savings accounts.  We have imposed limitations on these types of transfers.  You may use your Debit Card at an ATM to withdraw funds up to $300 each day, provided the funds are available in your account.  In addition to the amount that you may withdraw at an ATM each day, you are allowed $1,000 for a POS transaction(s) each day, provided the funds are available in your account.  The total amount of funds available to you for a POS transaction(s) is $1,000 each day and $300 from an ATM each day. Each day begins after midnight.
You may authorize a merchant to electronically charge your account in place of a paper check, including electronic collection of any applicable check charge.

 Availability of Funds 
     Your account balance is updated throughout each business day.  This means that your deposit will be available the same business day.  Additionally, an electronic deposit will be available the same business day as credited to the account.
     You will be denied the use of the Debit Card if you (i) exceed the daily withdrawal limit, (ii) do not have adequate funds available or (iii) do not enter the correct PIN.  There is a limit on the number of such denials permitted.  Attempts to exceed the limit may result in the machine retention of your Debit Card at an ATM.  The number of attempts that result in machine retention of your Debit Card is not revealed for security    reasons. 

Fees

§ We do not charge for direct deposits to any type of account.

§ We do not charge for preauthorized payments from your account.

§ We do not charge for ACH debits or credits to your account. 

§ We do not charge for Debit Card withdrawals.

§ There is a 10 cent charge per debit card PIN based purchase. The first 2 debits are free each month.

§ There is a $7.50 fee for each replacement of a debit card and each additional card ordered in the same name. 

· When you use an ATM not operated by us, you may be charged a fee by the ATM operator or any network used to complete the transfer (and you may be charged for a balance inquiry). 

 Documentation

Terminal transfers - You can get a receipt at the time you make any transfer to or from your account using one of our ATM's.  A receipt may not be available for transactions of $15 or less.

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, the person or company making the deposit will tell you every time they send us the money.

Periodic statements - You will get a monthly account statement unless there are no transfers in a particular month.  In any case you will get the statement at least quarterly.  This includes transaction accounts (regular checking, NOW, Super NOW accounts) and statement savings accounts.  A passbook     savings account should be converted to a statement savings account if there will be any electronic activity.

 

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 1-315-889-7358 in time for us to receive your request three business days or more before the payment is scheduled to be made.  If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.  You will be charged the current stop payment fee.

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. 

 Telephone Banking

     You may access your account(s) by using a separate Personal Identification Number (PIN) assigned by you.

     At the present time, you may use the system to:

●Transfer between checking and statement savings accounts

●Transfer from checking and statement savings accounts to Installment Loan accounts

●Verify account activity

●Place a stop payment on a check

●Fax yourself a copy of a statement.

 

Financial Institution's 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:

(1) If, through no fault of ours, you do not have enough money in your account to make the 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 and 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.

(6) There may be other exceptions stated in our agreement with you.

 

Confidentiality

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

(1) Where it is necessary for completing transfers, or

(2) In order to verify the existence and condition of your      account for a third party, such as a credit bureau or    merchant, or

(3) In order to comply with government agency or court       orders, or

(4) If you give us your written permission.

 

Consumer Liability

Tell us AT ONCE if you believe your card and/or code 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 the money in your account (plus your maximum overdraft line of credit).  If you tell us within two business days, you can lose no more than $50 if someone used your card and/or code without your     permission.  If you believe your card and/or code has been stolen, and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission.

If you DO NOT tell us within two 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 of the 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 in event of unauthorized transfer.  If you believe your card and/or code has been lost or stolen or that a transfer has been made using the information from your check without your permission, call:

 

1-315-889-7358

or write:

Cayuga Lake National Bank

165 Cayuga Street

Union Springs, NY  13160

 

Additional Limit in Liability for Debit Card.  If your card is lost or stolen, you will not be liable for any unauthorized transactions unless you have been grossly negligent or have engaged in fraud.  This additional limit on liability does not apply to ATM transactions or to transactions using your PIN which are not processed by Visa®. 

 Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers, call or write us at the telephone or address listed directly above 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. 

(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 10 business days.

We will tell you the results of our investigation within 10  business days, 20 business days if the transfer involved a new account or 5 business days if the transfer involved a Visa®  POS transaction, after we hear from you and will correct any error promptly.  If we need more time, however, we may take up to 45 days, or 90 days if the transfer          involved a new account, a point-of-sale or foreign-initiated transfer to investigate your complaint or question.  If we    decide to do this, we will credit your account within 10    business days, 20 business days if the transfer involved a new account or 5 business days if the transfer involved a Visa® POS transaction, 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 and notify you within 2 business days of the deposit.  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.  If we determine that there was no error, we will send you a written explanation within 3 business days after we finish our investigation.  You may request copies of the documents that we used in our investigation. 

Notice of ATM/Night Deposit

User Precautions

As with all financial transactions, please exercise discretion when using an automated teller machine (ATM) or night deposit facility.  The following suggestions may be helpful. 

(1) Minimize the time spent at the facility by coming prepared.

(2) Always save your ATM receipts.  Record each transaction, but not while at the ATM. 

(3) Review (balance) your account statement and compare records. 

(4) Don't lend your Debit Card to anyone.

(5) Do not leave your card at the ATM.

(6) If your card is lost or stolen, promptly notify us.

(7) Protect your Personal Identification Number (PIN).  Don't tell anyone your PIN.  Don't write your PIN where it can be discovered.  For example, don't write your PIN in your wallet or purse.

(8) Examine your surroundings.  Don't let others see you enter your PIN or accept help from others.  At night, be sure that the facility is well lit.  You should suspend the transaction and take your card or deposit with you if you notice anything suspicious.

(9) Be sure to close any entry door completely upon entering and exiting the ATM or night depository facility. 

(10) Place your cash in a secure place.  Count the cash later when you are in a safe place.

(11) At a drive-up facility, make sure your vehicle is locked and windows are rolled up.  Keep the engine running and remain alert to your surroundings.

(12) We want the ATM and night depository facility to be safe and convenient for you.  These facilities may record activity by a surveillance camera(s).  Please report to us if you know of a problem with a facility.  For instance, please notify us if the a light is not working properly or if there is any damage to the facility.  Please call the police at once if emergency assistance is needed.  Direct complaints concerning ATM facility security to us at the phone number listed in this brochure or to the New York Banking Department Consumer Services Hotline at 1-888-NYS-ATM1         (1-888-697-2861).

Fees and Service Charges  

 

Cashiers Check……………………..............……............................................$  3.00 per check
Money Orders……………………………..........................................................$  2.00 per check
Certified Checks………………………….......................................................$10.00 per check
Overdraft Charge…………………….…......................................................$35.00 per item
Return Item Charge………………………................................................$35.00 per item
Continuous OD Charge (after 2nd Day).……..........................................$  5.00 per day 
Returned Deposit Items…………………...........................................$15.00 per item
Wire Transfer/Outgoing………………..........................................…..$25.00 per wire
Wire Transfer/Incoming…………………............................................$15.00 per wire
Collections/Foreign Checks……………........................................$25.00 per check
Stop Payment—Bank Item……………….......................................$30.00 per item
Stop Payment—Customer’s Item………................................$30.00 per item
Research /Statement Copy……………........................................$10.00/Hour (Min)
Protest Fee……………………………..........................…..................................$25.00 per item
Counter Checks………………………….....................................................$  0.25 per check
Safe Deposit Boxes ……………………...............................................…$15.00 (2x5x21”)
                                                                                     $18.00 (3x5x21”)
                                                                                     $21.00 (4x5x21”)
                                                                                     $32.00 (3x10x21”)
Dormant service charge (6 months)…….........................$10.00
Deluxe Checks…………………………...…..................................................prices vary
Legal Processing Fee………………….................................................$50.00
Abandoned Property Fee………………......................................…$10.00
Return Mail………………………......................................................…………$5.00 per item
Phone Transfers………...………………....................................................$2.00 per transfer
OD Protection Transfer.…………………..........................................$10.00 per transfer