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TRUTH-IN-SAVINGS DISCLOSURE
FREE CHECKING
Minimum balance to open the account - You must deposit $100.00 to open this account.
50+ INTEREST CHECKING
(Available to persons 50 years or older)
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
GRAND INTEREST CHECKING
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $20.00 will be imposed every statement cycle unless you maintain a minimum daily balance of $2,500.00 for the monthly statement cycle.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
RELATIONSHIP INTEREST CHECKING
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $25.00 will be imposed every statement cycle unless you maintain a minimum daily balance of $5,000.00 for the monthly statement cycle.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $2,500.00 in the account each day and you must maintain an aggregate account relationship in the bank of $1,000,000.00 or greater each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
MONEY MARKET ACCOUNT
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $15.00 will be imposed every statement cycle unless you maintain a minimum daily balance of $2,500.00 for the monthly statement cycle.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Money Market Account to another account or to third parties by preauthorized automatic, computer, telephone, check, draft, debit card or similar order are limited to six per statement cycle.
Fees:
A fee of $10.00 will be charged for each transaction in excess of the above limitations.
SAVINGS
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Savings Account to another account or to third parties by preauthorized automatic, computer, telephone, check, draft, debit card or similar order are limited to six per statement cycle.
Fees:
A fee of $10.00 will be charged for each transaction in excess of the above limitations. An excess withdrawal fee of $1.00 will be charged for each in person withdrawal in excess of four per month.
GRAND-KIDS SAVINGS
(Available to persons under 18 years of age)
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $10.00 to open this account.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Savings Account to another account or to third parties by preauthorized automatic, computer, telephone, check, draft, debit card or similar order are limited to six per statement cycle.
Fees:
A fee of $10.00 will be charged for each transaction in excess of the above limitations. An excess withdrawal fee of $1.00 will be charged for each in person withdrawal in excess of four per month.
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 Clearinghouse (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant posts a sign informing you of their policy. In all cases, the transaction will require you to provide the third party with your account number and bank information. This information can 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 savings account(s).
- Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
- Electronic check conversion. You may provide your check to a merchant or service provider who will scan the check for the encoded bank and account information. The merchant or service provider will then use this information to convert the transaction into an electronic funds transfer. This may occur at the point of purchase, or when you provide your check by other means such as by mail or drop box.
- Electronic returned check charge. Some merchants or service providers will initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.
Please also see Limitations on frequency of transfers section regarding limitations that apply to savings accounts.
Telephone Banker Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at (561) 684-1856 using your personal identification number, a touch tonephone, and your account numbers, to:
- transfer funds from checking to checking
- transfer funds from checking to savings
- transfer funds from savings to checking
- transfer funds from savings to savings
- make payments from checking to loan accounts with us
- make payments from savings to loan accounts with us
- get information about:
- the account balance of checking and savings accounts
- the last five deposits to checking and savings accounts
- the last five withdrawals from checking and savings accounts
Please also see Limitations on frequency of transfers section regarding limitations that apply to telephone transfers.
ATM Transfers - types of transfers and dollar limitations - You may access your account(s) by ATM using your ATM card and personal identification number or Visa Check Card and personal identification number, to:
- get cash withdrawals from checking account(s) with an ATM card
- you may withdraw no more than $300.00 per day
- get cash withdrawals from checking account(s) with a Visa Check Card
- you may withdraw no more than $500.00 per day
- get cash withdrawals from savings account(s) with an ATM card
- you may withdraw no more than $300.00 per day
- get cash withdrawals from savings account(s) with a Visa Check Card
- you may withdraw no more than $500.00 per day
- transfer funds from savings to checking account(s) with an ATM card
- transfer funds from savings to checking account(s) with a Visa Check Card
- transfer funds from checking to savings account(s) with an ATM card
- transfer funds from checking to savings account(s) with a Visa Check Card
- get information about:
- the account balance of your checking accounts
- with an ATM card
- with a Visa Check Card
- the account balance of your savings accounts
- with an ATM card
- with a Visa Check Card
- the account balance of your checking accounts
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 ATM Card Point-of-Sale Transactions - You may access your checking or savings account(s) to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.
Point-of-Sale Transactions - dollar limitations - Using your card:
- you may not exceed $500.00 in transactions per day
Types of Visa Check 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), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant will accept with a credit card).
Point-of-Sale Transactions - dollar limitations - Using your card:
- you may not exceed $2,500.00 in transactions per day
Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.
Charges made in foreign currency. If you incur a charge in foreign currency, the charge will be converted by Visa International into a United States dollar amount, using the procedures in the Operating Regulations in effect at the time the transaction is processed. Those procedures currently provided for either a wholesale market rate or the government mandated rate in effect one day prior to the processing date increased by one percent. Because of fluctuations in foreign exchange rates, the conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date.
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.
On-Line Banking Computer Transfers - types of transfers - You may access your account(s) by computer 24 hours a day using your personal identification number, your account numbers, and your social security number, to:
- transfer funds from checking to checking
- transfer funds from checking to savings
- transfer funds from savings to checking
- transfer funds from savings to savings
- make payments from checking to loan accounts with us
- make payments from checking to third parties
- make payments from savings to loan accounts with us
- make payments from savings to third parties
- get information about:
- the account balance of checking accounts (at least current and previous month history)
- the withdrawals from checking accounts
- the account balance of savings accounts (at least current and previous month history)
- the withdrawals from savings accounts
Please also see Limitations on frequency of transfers section regarding limitations that apply to computer transfers.
Limitations on frequency of transfers. In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:
- Transfers from a Money Market Account to another account or to third parties by preauthorized, automatic, computer, telephone, check, draft, debit card or similar order are limited to six per statement cycle.
- Transfers from a savings account to another account or to third parties by preauthorized, automatic, computer, telephone, check, draft, debit card or similar order are limited to six per statement cycle.
FEES
- We do not charge for direct deposits to any type of account.
- Please refer to our separate disclosure for additional information about fees.
Except as indicated elsewhere, we do not charge for these 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 any transfer to or from your account using one of our automated teller machines or point-of-sale terminals.
- 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 (561) 615-5000 or Telephone Banker at (561) 684-1856 to find out whether or not the deposit has been made.
- Periodic statements.
You will get a monthly account statement from us for your checking, savings, and money market accounts.
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.
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 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:
- 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; 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
- if you give us written permission.
UNAUTHORIZED TRANSFERS
(a) Consumer liability.
* 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 the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 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 lost or stolen, and you tell us within 2 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 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, 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.
* Additional Limit on Liability for Visa® Check Card. 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® Check Card. This additional limit on liability does not apply to ATM transactions, to transactions using your Personal Identification Number which are not processed by VISA®, or to commercial cards.
(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.
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.
- Tell us your name and account number (if any).
- 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.
- 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 Visa 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 Visa 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 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. 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.
GRAND BANK & TRUST OF FLORIDA
P.O. BOX 3705
WEST PALM BEACH, FLORIDA 33402-3705
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (561) 615-5000
MORE DETAILED INFORMATION IS
AVAILABLE ON REQUEST
NOTICE OF ATM/NIGHT DEPOSIT
FACILITY USER PRECAUTIONS
As with all financial transactions, please exercise discretion when using an automated teller machine (ATM) or night deposit facility. For your own safety, be careful. The following suggestions may be helpful.
- Prepare for your transactions at home (for instance, by filling out a deposit slip) to minimize your time at the ATM or night deposit facility.
- Mark each transaction in your account record, but not while at the ATM or night deposit facility. Always save your ATM receipts. Don't leave them at the ATM or night deposit facility because they may contain important account information.
- Compare your records with the account statements you receive.
- Don't lend your ATM card to anyone.
- Remember, do not leave your card at the ATM. Do not leave any documents at a night deposit facility.
- Protect the secrecy of your Personal Identification Number (PIN). Protect your ATM card as though it were cash. Don't tell anyone your PIN. Don't give anyone information regarding your ATM card or PIN over the telephone. Don't write your PIN where it can be discovered. For example, don't keep a note of your PIN in your wallet or purse.
- Prevent others from seeing you enter your PIN by using your body to shield their view.
- If you lose your ATM card or if it is stolen, promptly notify us. You should consult the other disclosures you have received about electronic fund transfers for additional information about what to do if your card is lost or stolen.
- When you make a transaction, be aware of your surroundings. Look out for suspicious activity near the ATM or night deposit facility, particularly if it is after sunset. At night, be sure that the facility (including the parking area and walkways) is well lighted. Consider having someone accompany you when you use the facility, especially after sunset. If you observe any problem, go to another ATM or night deposit facility.
- Don't accept assistance from anyone you don't know when using an ATM or night deposit facility.
- If you notice anything suspicious or if any other problem arises after you have begun an ATM transaction, you may want to cancel the transaction, pocket your card and leave. You might consider using another ATM or coming back later.
- Don't display your cash; pocket it as soon as the ATM transaction is completed and count the cash later when you are in the safety of your own car, home, or other secure surrounding.
- At a drive-up facility, make sure all the car doors are locked and all of the windows are rolled up, except the driver's window. Keep the engine running and remain alert to your surroundings.
- We want the ATM and night deposit facility to be safe and convenient for you. Therefore, please tell us if you know of any problem with a facility. For instance, let us know if a light is not working or there is any damage to a facility. Please report any suspicious activity or crimes to both the operator of the facility and the local law enforcement officials immediately.