Error Resolution Notice
- Federal Reserve Board Regulation E
The Electronic Fund Transfers we are capable of handling for consumers
are indicated below, some of which may not apply to your account. Some
of these may not be available at all terminals. Please read this
disclosure carefully because it tells you your rights and obligations
for these transactions. You should keep this notice for future
reference.
Types of Transfers
Prearranged Transfers:
Preauthorized credits. You may make arrangements for certain direct
deposits to be accepted into you checking and/or savings accounts.
Preauthorized payments: You may make arrangements to pay certain
recurring bills from your checking and/or savings accounts.
Telephone Transfers:
You may access your account(s) by telephone at 651 628 2265 or 1 888 680
2265 using a touch tone phone, your account numbers, and a PIN to:
Transfer funds from checking to savings
Transfer funds from savings to checking
Make payments from checking to loan accounts with us
Get checking account(s) information
Get savings account(s) information
ATM Transfers:
You may access your account(s) by ATM using your Instant Cash / Instant
Cash and Check Card and PIN to:
Make deposits to checking accounts
Make deposits to savings accounts
Get cash withdrawals from checking accounts of $200 per day
Get cash withdrawals from savings accounts of $200 per day
Transfer funds from savings to checking
Transfer funds from checking to savings
Get checking account(s) information
Get savings account(s) information
Access your QuikCredit account
Some of these services may not be available at all terminals.
Point-of-Sale Transactions:
Using your card:
You may access your checking account to purchase goods in person, by
phone, by computer, pay for services in person, by phone, by computer,
get cash from a merchant, if the merchant permits, or from a
participating financial institution, and do anything that a
participating merchant will accept.
You may not exceed more than $500.00 in transactions per day.
ATM Interlink Cards may be used for 3 POS transactions from your
savings account monthly.
Computer Transfers:
You may access your account(s) by computer at www.americanbankmn.com and
using your account number(s) and PIN to:
Transfer funds from checking to savings
Transfer funds from savings to checking
Make payments from checking to loan accounts with us
Make payments from checking to pay bills in the amounts and on the
days you request
Get checking account information
Get savings account information
Electronic Fund Transfers Initiated by Third Parties:
You may authorize a third party to initiate electronic fund transfers
between your account and the third partys account. These transfers to
make or receive payment may be one-time occurrences or may recur as
directed by you. These transfers may use the Automated Clearing House
(ACH) or other payment network. Your authorization to the third party to
make these transfers can occur in a number of ways. For example, your
authorization to convert a check to an electronic fund transfer or to
electronically pay a returned check charge can occur when a merchant
provides you with notice and you go forward with the transaction
(typically, at the point of purchase, a merchant will post a sign and
print the notice on a receipt). In all cases, these third party
transfers will require you to provide the third party with your account
number and financial institution information. This information can be
found on your check as well as on a deposit or withdrawal slip. Thus,
you should only provide your financial institution and account
information (whether over the phone, the Internet, or via some other
method) to trusted third parties whom you have authorized to initiate
these electronic fund transfers.
General Limitations:
In addition to those limitations on transfers elsewhere described, if
any, the following limitations apply:
Transfers from a savings account to another account or to third
parties by preauthorized, automatic, or telephone transfer are limited
to 6 per month with no more than 3 per month transfers by Interlink or
similar order to third parties. If you exceed the transfer limitations
set forth above in any statement period, your account will be subject to
closure by the financial institution.
Fees:
Except as indicated in this notice or in our fee schedule we do not
charge for Electronic Fund Transfers.
ATM Operator / Network 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).
Documentation:
Terminal Transfers: You can get a receipt at the time you make a
transfer to or from your account using a(n):
Automated Teller Machine (ATM)
Point-of Sale terminal (POS)
You may not get a receipt if the amount of the transfer is $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, you can call
us at the telephone number listed below to find out whether or not the
deposit has been made:
In addition:
You will get a monthly account statement from us, unless there are no
transfers in a particular month. In any case, you will get a statement
at least quarterly.
651 628 2265 or 1 888 680 2265
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. Heres how:
Call or write us at the telephone number or address listed in this
disclosure, 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 charge $25. for each stop payment
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 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 Institutions 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:
If, though 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.
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
As explained in the separate Privacy Disclosure.
Unauthorized Transfers
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 2 business days after
you learn of the loss or theft of your card and/or code, you can lose no
more than $50 if someone used your card and/or code without your
permission. Also, 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, 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 a hospital stay) kept you from
telling us, we will extend the time period.
VISAฎ Card Debit. 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 Visa card.
This additional limit on liability does not apply to ATM transactions or
to transactions using your Personal Identification Number which are not
processed by Visa. Visa is a registered trademark of Visa International
Service Association.
Contact in event of unauthorized transfer. If you believe your card
and/or code has been lost or stolen, call or write us at the telephone
number or address listed at the end of this disclosure. You should also
call the number or write to the address listed at the end of this
disclosure if you believe a transfer has been made using the information
from your check without your permission.
Error Resolution Notice:
In case of errors or questions about your electronic transfers, call or
write us at the telephone number or address listed below, 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 (if any)
Describe the error or 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 (5
business days if involving a Visaฎ
transaction or 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 if involving a Visaฎ
transaction or 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 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. An
account is considered a new account for 30 days after the first deposit
is made, if you are a new customer.
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.
Additional Information:
Some services may not be available at all ATM or POS terminals
Your balance shown at the ATM does not reflect your available funds
from an Overdraft Protection Line (QuikCredit) or a savings account that
you may have set up an automatic transfer from to avoid an overdraft
If you access your QuikCredit or savings account by withdrawing funds
from an ATM, interest will accrue from that date on your QuikCredit and
the interest accrued on your savings account will be affected.
American Bank
1578 University Avenue West
St. Paul, MN 55104
651 628 2265 or toll free 1 888 680 2265
Business Days: Monday through Friday 8 a.m. 5 p.m. central time
