Terms of Use

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may 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.

You have arranged for us to accept certain direct deposits and/or pay certain recurring bills from your account. Transfers from a money market deposit account are limited to 6 pre-authorized, automatic or third-party transfers per monthly statement cycle, or which no more than 3 can be checks. Transfers from a savings account to another account or to third parties by pre-authorized or automatic transfer are limited to 6 per monthly statement cycle.

We do not charge for direct deposits to any type of account. We do not charge for preauthorized withdrawals from any type of account, unless you exceed the transfer restrictions on the money market account and/or savings account. Then there will be a charge of $5.00 per excessive transaction.

• 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, Simply call or write us in time for us to receive your request 3 business days or more before the withdrawal 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 your call.
• Notice of varying amounts. If these regular payments may vary, 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.

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

• when it is necessary for completing transfers,
• in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant,
• in order to comply with a governmental agency or court orders, or as described in our privacy policy disclosure.
  

If your statement shows transfers that you did not make or authorize, 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.

Address and telephone number. If you believe that someone has transferred or may transfer funds from your account without your permission, call us at Abilene [ (325) - 695 - 3000 or write to us at 4201 S. Treadaway  Blvd., Abilene, TX 79602. ] or Knox City  [ (940)-658-3527 or write to us at P. O. Box 668 Knox City, Texas 79529 ]

In case of errors or questions about your electronic transfers, call or write us as soon as possible 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 you the FIRST statement on which the error or problem appeared. Include in the correspondence the following information: (1) Your name and account number (if any), (2) describe the error/transfer you are unsure about and explain why you believe it is in error and why you need more information and (3) dollar amount of the suspected error.

If you contact us orally, we may require that you send us your complaint or questions in writing within 10 business days. We will tell you the result of our investigation within 10 business days (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 foreign-initiated transfer) to investigate your complaint or questions. 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) for the amount you think is in error, so that you 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. If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

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 the funds available in your account to make the transfer.
• If the transfer would go over the credit limit on your overdraft privilege.
• If circumstances beyond our control (such as flood or fire) prevent the transfer despite reasonable precautions that we have taken.

There may be other exceptions stated in our agreement.

Your Ability to Withdraw Funds. Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. At that time, you can withdraw the funds in cash, and we will use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your account.

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. 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. or on a day we are not open, we will consider that the deposit was made on the next business day that we are open. Your electronic direct deposits will be available on the day the bank receives the deposit.

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 upon the type of check that you deposit; funds may not be available until the second business day after the day of your deposit. However, the first $225 of your deposits may be available on the first business day after the day of your deposit.

If we are not going to make all of the funds from your deposit available on the first business day after we receive your deposit, we will notify you at the time you make the 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 bank, we will mail you the notice by the first business 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 that you deposit by check may be delayed for a longer period under the following circumstances:

• We believe a check that 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 within the bank, such as a failure of communications or computer equipment.
• You request transfer of uncollected funds.

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 seventh 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 into 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 (and you may have to use a special deposit slip). 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 U.S. Treasury check) is not made in person to one of our employees, the first $5,525 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 tenth business day after the day of your deposit.

Like any other United States financial institution, Citizens Bank, N.A., is required by the USA Patriot Act to verify the identity of current or prospective customers and to maintain that information for a specified time. Additionally, the USA PATRIOT Act has paved the way for financial institutions to help prevent fraud, identify theft, and the spread of terrorism.

Your cooperation is needed when you open a new account, request a loan or seek other financial services. You may be asked more questions to establish and confirm your identity. Please be prepared to provide a driver's license or other appropriate proof of identification as may be reasonably requested.

If you should have any questions regarding this requirement, please feel free to let us know