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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.

Electronic Funds Transfers Initiated By Third Parties
You may authorize a third party to initiate electronic funds transfers between your account and the third party’s 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 payments 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 iwth your account number and bank information. This information can typically be found on your check as well as on a deposit or withdrawal slip.  Thus, you should only provide your bank 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 funds transfers.  Examples of these transfers include, but are not limited to:

  • Preauthorized credits.  You may make arrangements for certain direct deposits to be accepted into your checking or statement savings account(s).

 

  • Preauthorized payments.  You may make arrangements to pay certain recurring bills from your checking or statement savings account(s).
  • Electronic check conversion.  You may authorize a merchant or other payee to make a one-time electroni payment from your checking account using information from your check to pay for purchases or pay bills. 

             Electronic returned check charge.  You may authorize a merchant or other payee to initiate     an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds. 

Telephone Banking Transfers – Types of Transfers
You may access your account by telephone 24 hours a day at 877-276-9622 using a personal identification number, a touch tone phone and your account numbers for the following services:

  • Transfer funds from checking to checking
  • Transfer funds from checking to statement savings
  • Transfer funds from statement savings to checking
  • Transfer funds from statement savings to statement savings
  • Get information about:
    • The account balance of checking account(s)
    • The last five deposits to checking account(s)
    • The last five withdrawals from checking account(s)
    • The account balance of saving account(s)
    • The last five withdrawals from savings account(s)
    • The last fice deposits to savings account(s)

 

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to telephone banking transfers.

 

ATM Transfers – Types of Transfers and Frequency and Dollar Limitations
You may access your account(s) by ATM using your ATM card and personal identification number or debit card and personal identification number for the following services:

  • Make deposits to checking account(s)
    • With an ATM card
    • With a debit card

 

  • Make deposits to statement savings account(s)
    • With an ATM card
    • With a debit card
  • Get cash withdrawals from checking account(s)
    • With an ATM card
    • With a debit card

**  You may withdraw no more than $500.00 per business day

  • Get cash withdrawals from statement savings account(s)
    • With an ATM card
    • With a debit card

**  You may withdraw no more than $500.00 per business day

  • Transfer funds from statement savings to checking account(s)
    • With an ATM card
    • With a debit card

 

  • Transfer funds from checking to statement savings account(s)
    • With an ATM card
    • With a debit card

 

  • Get information about:
    • The account balance of your checking account(s)
      • With an ATM card
      • With a debit card
    • The account balance of your statement savings account(s)
      • With an ATM card
      • With a debit card

 

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

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to ATM transfers.

 

Types of Debit Card Point-of-Sale Transactions
You may access your checking account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), and get cash from a merchant, if the merchant permits, or from a participating financial institution.

Point-of-Sale Transactions – Frequency and Dollar Limitations - Using your card:

  • You may not exceed $1,500.00 in transactions per business day.

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to debit card transactions.

 

Currency Conversion and International Transactions
When you use your Visa branded debit card at a merchant that settles 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 rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate Visa itself receives; or

 

  • The government mandated rate in effect for the applicable central processing date.

 

 

 

The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.

Visa USA charges us a 0.8% International Service Assessment on all international transactions, regardless of whether there is a currency conversion.  If there is a currency conversion, the International Service Assessment is 1% of the transaction.  In either case, we pass this international transaction fee on to you.  An international transaction is a transaction where the country of the merchant is outside the USA.

 

Advisory Against Illegal Use
You agree not to use your card(s) for illegal gambling or other illegal purpose.  Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

 

Online Banking with Bill Pay Computer Transfers –
Types of Transfers and Dollar Limitations
You may access your account(s) by computer through the Internet by logging onto our website at crownbankonline.com and using your user identification and password for the following services:

  • Transfer funds from checking to checking
  • Transfer funds from checking to statement savings
  • Transfer funds from statement savings to checking
  • Transfer funds from statement savings to statement savings
  • Make payments of up to $2,500 from checking to third parties
  • Make payments of up to $2,500 from statement savings to third parties
  • Get information about:
    • The account balance of checking account(s)
    • The last deposit to checking account(s) from online banking contract date
    • The last withdrawal from checking account(s) from online banking contract due date
    • The account balance of savings account(s)
    • The last deposit to savings account(s) from online banking contract date
    • The last withdrawal from savings account(s) from online banking contract due date

 

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to online banking transfers.

 

 

Limitations on Frequency of Transfers
In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:

  • For security reasons, there are other limits on the number of transfers you can make by ATM.
  • For security reasons, there are other limits on the number of transfers you can make by debit card, online banking and telephone banking.  We restrict the number of transfers from a savings or money market account to another account or to third parties, to a maximum of six (6) per month (less the number of “preauthorized transfers” during the month).

 

FEES

  • We do not charge for direct deposits to any type of account.
  • We do not charge for preauthorized payments from any type of account.

Except as indicated elsewhere, we do not charge for these electronic funds 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 any transfer to or from your account using automated teller machines or point-of-sale terminals.  Receipts may not be available for transactions of $15.00 or less at electronic terminals.
  • Preauthorized Credits.  If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, the person or company making the deposit may tell you every time they send us money.  If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at 1-888-499-2265 to find out whether or not the deposit has been made. 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 may tell you every time they send us the money.

 

  • Periodic Statements.  You will get a monthly account statement from us for your checking account(s).  You will get a monthly account statement from us for your statement savings account(s), unless there are no transfers in a particular month.  In any case, you will get a statement as least quarterly.

 

 

 

PREAUTHORIZED PAYMENTS
Right to Stop Payment and Procedure
If you have told us in advance to make regular payments out of your account, you can stop any of these payments as follows:

Call or write us at the telephone number or address listed in this brochure in time for us to receive your request three (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 fourteen (14) days after you call.

Please refer to our separate fee schedule for the amount we will charge you 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 preauthorized transfer
If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses and 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 and damages.  However, there are some exceptions.  For instance, we will not be liable for the following:

  • If, through no fault of ours, you do not have enough money in your account to make the transfer.
  • If you have an overdraft line and the transfer would go over the credit limit.
  • 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.
  • 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 government agency or court orders.
  • As explained in the Privacy Disclosure.
  • At our discretion, as allowed by New Jersey law providing for the release of account information pertaining to actual or suspected illegal activities.

 

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 two (2) business days, you can lose no more than $50.00 if someone used your card and/or code without your permission.  (If you believe your card and/or your code has been lost or stolen and you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your card and/or code without your permission).

If you DO NOT tell us within two (2) business days after you learn of the loss or theft of your card and/or your code and we can prove we could have stopped someone from using your card and/or your code without your permission if you had told us, you could lose as much as $500.00.

Also, if your statement shows transfers that you did not make, inlcuding 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 periods.

  • Contact in event of Unauthorized Transfer

If you believe your card and/or your 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.  You should also call the number or write to the address listed in this brochure 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 as soon as possible at the telephone number or address listed in this brochure.  Contact us 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 sixty (60) days after we sent the FIRST statement on which the problem or error appeared.

  • Give us your name and account number.
  • Describe the error or the transfer you are unsure about and explain as clearly as possible why you believe it is an error or why you need more information.
  • Give 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 ten (10) business days.

We will determine whether an error occurred within ten (10) business days (twenty (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 forty-five (45) business days (ninety (90) business 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 ten (10) business days (twenty (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 ten (10) business days, we may not credit your account.  Your account is considered a new account for the first thirty (30) days after the first deposit is made, unless you already have an established account with us before this account is opened.

We will tell you results within three (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.

 

CROWN BANK
CORPORATE OFFICE
715 ROUTE 70
BRICK, NJ  08723

 Business Days:            Monday through Friday, excluding Federal Holidays
Telephone:                     1-888-499-2265

 

                        MORE DETAILED INFORMATION IS AVAILABLE UPON REQUEST.


 



  
CROWN BANK CORPORATE OFFICE | PRIVACY STATEMENT | TELEPHONE: 1(908) 659-2100 | FAX: 1(908) 289-1601