Electronic Fund Transfers

Your Rights and Responsibilities

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Pre-authorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).

Pre-authorized Payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).

Telebank Telephone Transfers - types of transfers and frequency limitations -You may access your account(s) by telephone 24 hours a day (business day cutoff -5:00 P.M. Monday through Friday) at (952) 932-9690 using your personal identification number, a touch tone phone, and your account numbers, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • you may make no more than six transfers per month
  • transfer funds from savings to savings
  • you may make no more than six transfers per month
  • make payments from checking to loan accounts with us
  • make payments from savings to loan accounts with us
  • get more information about:
    • the account balance of checking account(s)
    • the last ten deposits to checking account(s)
    • the last ten withdrawals from checking account(s)
    • the account balance of savings account(s) -the last ten deposits to savings account(s)
    • the last ten withdrawals from savings account(s)
    • interest earned on savings account(s)
    • the account balance of certificates of deposit
    • the last amount of interest paid to certificates of deposit
    • the date interest was paid to certificates of deposit
    • the year-to-date interest paid to certificates of deposit
    • the prior year-to-date interest paid to certificates of deposit
    • the next payment amount and due date for loans -the last payment amount and date paid for loans -the year-to-date interest paid for loans -the total interest paid for loans
    • the payoff balance for loan

Phone time is limited to 15 minutes per call.

FMCBank Online - You may access your account(s) and conduct the functions listed above over the Internet using FMCBank Online available through our Web site located at www.fmcbank.com. In addition, you may use our online bill payment feature to:

  • make payments from your checking account to third parties
  • schedule automatic payment of recurring bills from your checking account(s)

FMCBank Online may be accessed 24 hours a day using your personal computer, your user password and your account numbers. Transaction made after 5:00PM Monday through Friday or on weekend will be recorded on the following business day. There is no charge for accessing your account information or making transfers between your account(s) with us.

ATM Transfers - types of transfers, dollar limitations, and charges - You may access your account(s) by ATM using your Instant Cash® card and personal identification number, or your Instant Cash & Check® card and personal identification number, to:

  • make deposits to checking or savings account(s)
    • there is a charge of $2.00 per deposit at any ATM owned by Wells Fargo Bank, N.A. and non-Instant Cash ATMs or non-MoneyPass ATMs
  • get cash withdrawals from checking or savings account(s)
    • you may withdraw no more than $100.00 per day
    • there is a charge of $2.00 per withdrawal at any ATM owned by Wells Fargo Bank, N.A. and non-Instant Cash ATMs or non-MoneyPass ATMs
  • transfer funds from savings to checking account(s)
    • there is a charge of $2.00 per transfer at any ATM owned by Wells Fargo Bank, N.A. and non-Instant Cash ATMs or non-MoneyPass ATMs
  • transfer funds from checking to savings account(s)
    • there is a charge of $2.00 per transfer at any ATM owned by Wells Fargo Bank, N.A. and non-Instant Cash ATMs or non-MoneyPass ATMs
  • get information about the balance of your checking or savings account(s)
    • there is a charge of $1.50 per account balance inquiry at any ATM owned by Wells Fargo Bank, N.A. and non-Instant Cash ATMs or non-MoneyPass ATMs

Some of these services may not be available at all terminals.

Types of Instant Cash & Check® Debit Card Transactions -You may access your checking

account(s) 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 can be done with a credit card (that a participating merchant will accept with a credit card). To report a lost or stolen card call our 24-hour hot line at 1-800-535-8440.

Debit Card Transactions -dollar limitations and charges -Using your debit card:

  • you may not exceed $500.00 in transactions per day
  • you will not be assessed a monthly or annual charge; however, certain other transaction charges may apply (refer to ATM fees listed above).

Termination -

  • You may terminate the electronic fund transfer agreement by written notice to us
  • We may terminate the electronic fund transfer agreement by written notice to you

Fees -

  • We do not charge for direct deposits to any type of consumer account.
  • When you use an ATM not owned by us, you may be charged a fee by the ATM owner or any network used. You may be charged a fee for a balance inquiry even if you do not complete a funds transfer.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

Currency Conversion

When you use your card at a merchant or ATM that settles in currency other than US dollars, the charge will be converted into US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either:

  • a rate selected by Visa or Mastercard from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa or Mastercard themselves receive; or
  • the government-mandated rate in effect for the applicable central processing date.

Plus a 1% adjustment charged by Visa and Mastercard.

The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. The 1% adjustment is made for all international transactions regardless of whether there is a currency conversion associated with the transaction

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 or point-of-sale terminals.

Pre-Authorized 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 (952) 935-8661 or (952) 932-9690 to find out whether or not the deposit has been made.

Periodic Statements -You will get a monthly account statement from us for your money market and checking accounts.

You will get a monthly account statement from us for your savings accounts, unless there are no telephone or electronic transfers in a particular month. In any case, you will get a 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 is how:

Call or write us at the telephone number or address listed in this brochure 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 $30.00 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, 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 pre-authorized 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.

FINANCIAL INSTITUTION'S 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 the transfer.
(2) If you have an overdraft line and the transfer would go over the credit limit.
(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 we have taken.
(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 written permission.

UNAUTHORIZED TRANSFERS

(a) Consumer liability.

(1) Generally. 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. You could lose all of the money In your account (plus the maximum overdraft line of credit). We will be liable for all unauthorized transfers unless the unauthorized transfer was due to the loss or theft of your card and/or code. If due to the loss or theft of your card and/or code and you notify us within 60 days of when the unauthorized transfer appears on the statement you can lose no more than $50 if someone used your card and/or code without permission.

If you do NOT notify us within 60 days after the unauthorized transfer appears on your statement, and we prove that we could have stopped someone from using your card and/or code without your permission if you had told us within 2 days of when you discover the loss or theft of your card and/or code, you could lose as much as $500 for unauthorized transfers that appear on the statement.

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 prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as along trip or a hospital stay) kept you from telling us, we will extend the time periods.

(2) Additional Limits on Liability for Instant Cash & Check card, when used for point-of-sale transactions. 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 Instant Cash & Check card, when used for point-of-sale transactions, if you report the loss or theft of your card within 2 business days of when you discover the loss 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.

(b) Contact in event of unauthorized transfer. If you believe your 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 or write us at the telephone number or address listed in this brochure.

RIGHT TO BRING CIVIL ACTION

You may bring a 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 the same business day, if the transaction occurs before 2:00 P.M. Monday through Friday.

Deposits made at a terminal will normally be credited to your account the same business day, if the transaction occurs before 2:00 P.M. Monday through Friday.

Transfers between accounts will normally be completed the same business day, if the transaction occurs before 2:00 P.M. Monday through Friday. Payments made at a terminal will normally be completed the same business day, if the transaction occurs before 2:00 P.M. Monday through Friday.

POINT-OF-SALE TRANSACTIONS

Payment for goods or services made in this manner shall not affect any of the rights, protections, or liabilities in existing law concerning a cash or credit sale made by means other than through the use of a terminal. You cannot reverse a point-of-sale transaction.

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this brochure, 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 determine whether an error occurred within 10 business days (5 business days for Instant Cash & Check Card point-of-sale transactions and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for Instant Cash & Check Card point-of-sale transactions and 20 business days if the transfer involved a new account) 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 the 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. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

We will tell you the results within three 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.

ACH AND WIRE TRANSFERS

This agreement is subject to Article 4A of the Uniform Commercial Code -Fund Transfers as adopted in the state in which you have your account with us, or as adopted in New York if that state has not adopted UCC 4A. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

FIRST MINNETONKA CITY BANK
14550 EXCELSIOR BOULEVARD
MINNETONKA, MINNESOTA 55345
Business Days: Monday through Friday
Excluding Federal Holidays Phone: (952) 935-8661
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST

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