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Disclosures

Electronic Funds Transfers
Peoples Bank Funds Availability Policy
Legal Disclaimer

ELECTRONIC FUNDS TRANSFERS DISCLOSURES, PEOPLES BANK 24 EXPRESS, & PEOPLES BANK 24 EXPRESS CHECK TERMS, CONDITIONS AND AGREEMENTS
As a customer of Peoples Bank, several services are available to you which allow you, or some other person authorized by you, to electronically transfer money to or from your personal Checking, NOW Account, Money Market Account, and Statement Savings Accounts.  Here are some important things you should know about Electronic Funds Transfers.

TYPES OF ELECTRONIC TRANSFERS YOU MAY MAKE
 If you have a Peoples Bank 24 Express Card (ATM card) or Peoples Bank 24 Express Check (debit card) and Personal Identification Number (PIN), your Checking, NOW Account, Money Market Account, and/or Statement Savings Account may be coded to allow you to use your card any time of day at any of our Peoples Express 24 Automated Teller Machines (ATM) to:

LIMITATIONS ON DOLLAR AMOUNTS OF TRANSACTIONS
You may also use your ATM or debit card to withdraw cash from your Checking Account, NOW Account, Money Market Account, and/or Statement Savings Account at Peoples Bank ATMs or at certain other banks' ATMs, which are tied to Peoples Express 24 terminal through the Star and Cirrus Networks.  Other transactions may be available at such Automated Teller Machines in the future.  There is a limit of $605.00 per day of total cash withdrawals.

You may use your debit card at any merchant Point-of-Sale (POS) terminal displaying the VISA logo to debit your checking account to pay for purchases.  If your debit card is used at those merchants that accept VISA cards, your checking account will be debited for the amount of your purchase.  You may also use your debit card to pay for goods or services at merchants who accept VISA cards in a total aggregate amount of $1,000 per day, not to exceed $3,000 in a 3-day period. 

Your debit card dollar amount limitations are further limited by the available balance in your accounts and line of credit (if any).  The available balance in the application accounts may be debited immediately or it may be reduced by the amount of any transactions from which any merchant has received authorization from us, even if the documentation evidencing the transaction has not yet been received and processed by us.  (Merchants are not required to obtain authorization for all transactions.)  You should treat all banking card transactions as immediate withdrawals from your account and reflect them as such in your personal records.

DIRECT DEPOSITS AND WITHDRAWLS
 You may authorize certain third parties to electronically transfer money to your account (your salary or government benefits, for example) or from your account (to pay recurring bills, for example) on a periodic basis.

AUTOMATIC TRANSFER SERVICES
You may instruct us to automatically transfer money from your account on a periodic basis to certain third parties' accounts at Peoples Bank.

ONLINE BANKING
You may request to be able to access your accounts via the Peoples Bank Online Banking website.  You will be able to access account balances and histories, transfer funds, pay bills, and other services over the Internet.

OTHER ELECTRONIC FUNDS TRANSFERS
  “E-check” transactions and payments made under a computer or electronic bill-payment plan are electronic funds transfers.  “E-checks” may be a regular paper check that the consumer supplies to a payee, who converts the check into electronic funds transfer.  This conversion is done at a point-of-sale terminal by electronically scanning and capturing the Magnetic Ink Character Recognition (MICR) encoding on the check.  The terminal will capture the routing, account, serial numbers, and the amount will be entered. This information from your check becomes an electronic check, and the funds will be deducted from your account electronically.

CHARGES FOR ELECTRONIC TRANSFERS
You will pay normal fees related to the services you utilize whether the transfers are initiated electronically or by written order.  These fees are disclosed in the general account information brochure delivered to you as a supplement of this disclosure.  The fees are subject to change at the option of Peoples Bank.  You will be notified of changes by Peoples Bank through delivery of a mailing prior to the changes which will set forth the fees to be charged. 

If you use a non-Peoples Bank ATM, you may be charged a fee by the owner of the ATM, or by any national, regional, or local network used to complete the transaction.  This fee is to be disclosed prior to confirming the transaction.

DOCUMENTATION OF YOUR ELECTRONIC TRANSFERS:
 Periodic Account Statements.   Your electronic transfers will be described on the account statements you receive periodically.  Every month you will receive account statements for your Checking Account, NOW Account, and Money Market Account.  You will receive an account statement for your Savings Account every month during which there was an electronic transfer.  Otherwise, you will receive a statement quarterly on your Savings Account.

Terminal Receipts.  You can get a receipt any time you make a transaction to or from your account using ATMs.  You may not get a receipt from POS Terminals or other merchant terminals if the transaction is $15.00 or less.

Confirmation of Direct Deposits.  If you have arranged to have direct deposits made to your account at least once every 60 days by the same person or company, you can call (during regular business hours) the telephone number printed on your periodic account statement, any office printed on this brochure, or call Peoples Touch at (828) 464-5030, 24 hours a day, 7 days a week, to determine whether any such deposit has been made.  Please remember that Peoples Bank cannot credit your account with a deposit until we have received funds from the person, government agency, or company making the deposit.

UNAUTHORIZED TRANSFERS
A transaction is considered “unauthorized” if it is initiated by someone other than you (the cardholder) without your permission and you receive no benefit from the transaction.  A transaction is not considered “unauthorized” if you furnish the card, card number, PIN or other identifying information and expressly or implicitly give that individual authority to perform one or more transactions, and the person then exceeds that authority.  An electronic funds transfer would not be “unauthorized” if it was initiated with fraudulent intent by you or by any person acting in concert with you.  An electronic funds transfers may not be “unauthorized” if we conclude that the facts and circumstances do not reasonably support a claim of unauthorized use.

(a) Contact in event of unauthorized transfer. If you believe your card and/or PIN 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 and address in this brochure immediately.

(b) Liability for Unauthorized Transactions appearing on a periodic statement.If your statement shows transfers that you did not make, tell us at once.  If you do not tell us within sixty (60) calendar days after the statement was mailed to you, and if we can prove that we could have stopped someone from taking the money had you told us in time, you may not get back any money you lost after sixty (60) calendar days.  If a good reason kept you from telling us, we may extend this time period.

(c) Additional limits on liability for Peoples Bank Express ATM Card or 24 Express Check Card.  Unless you have been grossly negligent or have engaged in fraud or illegal transactions, you will not be liable for any unauthorized transactions associated with your lost or stolen Peoples Bank Express ATM Card or 24 Express Check Card.  If you have transactions showing on your periodic statement that were not made or authorized by you, you must call or write us within 60 days after the statement was mailed to you.

HOW TO GET IN TOUCH WITH US
If you believe that your Peoples Bank 24 Express ATM or Check Card has been lost or stolen or that someone has transferred or may transfer money from your accounts without permission, call us during business hours at (828) 464-5620 or 1-800-948-7195, or write to us at:

Peoples Bank
ATM/Check Card Coordinator
P. O. Box 467
Newton, NC 28658-0467

To report your card lost or stolen after business hours please call 1-800-523-4175.

If you need to report your Peoples Bank VISA credit card lost or stolen, please call 1-800-444-6938.

OUR BUSINESS DAYS
Our business days are Monday through Friday (not including bank holidays).

YOUR RIGHT TO STOP PAYMENT OF PREAUTHORIZED TRANSFERS:
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. To do so, 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 the Fee Schedule for the amount we will charge you for each stop payment order you request.

POS Transactions. A stop payment will not be accepted on any preauthorized transactions using your Peoples Bank 24 Express ATM or Check Card.  Cardholder is responsible for charges.

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.

Notice of varying amounts. If these regular payments 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.)

OUR LIABILITY FOR FAILURE TO MAKE TRANSFERS:
If we do not complete a transfer to or from your account on time in the correct amount according to our agreement with you, we will be liable for your losses or damages.  However, there are some exceptions for which we will not be liable, for instance:

There may be other exceptions stated in our agreements with you.

DISCLOSURE OF INFORMATION ABOUT YOUR ACCOUNTS TO OTHER PARTIES:

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

IN CASE OF ERRORS OR QUESTIONS ABOUT ELECTRONIC TRANSFERS:
If you think your periodic statement or an ATM or debit card receipt is wrong, or if you need more information about a transfer listed on your statement or receipt:

Peoples Bank
ATM/Check Card Coordinator
P. O. Box 467
Newton, NC 28658-0467

We must hear from you no later than sixty (60) days after we send the FIRST statement on which the problem or error appeared.  When you call or write us:

  1. Tell us your name and account number;

  2. 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;

  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 ten (10) business days.

Unless the transfer in question was initiated at a POS Terminal by non-electronic means or was initiated outside of the United States, we will tell you the result of our investigation within ten (10) business days (five (5) business days for POS transactions) 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) days to investigate your complaint or question.  If we decide to do this, we will provisionally recredit your account within ten (10) business days (five (5) business days for a POS transaction) 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 the investigation.  We may also withhold provisional credit, to the extent allowed under applicable law, 10 additional days, if the circumstances or account history warrants the delay.  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 provisionally recredit your account.

If the transfer occurred at a POS Terminal by non-electronic means or if an electronic transfer was initiated outside of the United States, the provisions of the above paragraph will apply except that we shall have “twenty (20) business days” to act whenever “5 or 10 business days” is stated and the reference to “45 days” is replaced with “90 days”.

If we decide that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation and we will charge the amount of the transaction back to your account.  You may ask for copies of the documents used in our investigation.

OTHER TERMS, CONDITIONS, AND AGREEMENTS
Any person who requests, signs, uses, authorizes the use of, or requests validation of a Peoples Bank Express 24 Card (ATM card) or Peoples Bank 24 Express Check Card (debit card) becomes a Peoples Bank “Cardholder” and agrees with Peoples Bank with respect to that ATM or debit card, to the following terms, conditions, and agreements:

  1. Normal service charges which we impose on all Checking, NOW Accounts, Money Market Accounts, and Statement Savings Accounts will apply to transactions made through the use of our ATM or debit card.  Further, if any ATM or debit card transaction results in an automatic advance from your Peoples Bank Redi-Advantage Account, then Cardholder may incur FINANCE CHARGES as described in the separate agreements for those additional services.

  2. The ATM or debit card may only be used in connection with Peoples Express 24 Automated Teller Machines to make withdrawals from, deposits into, or transfers between Cardholder’s checking account, NOW Account, Money Market Account, or Statement Savings Account or to obtain balance information.  Transactions made through the use of an ATM or debit card are subject to all of the terms and conditions, and rules and regulations contained in the Peoples Bank Checking Account, NOW Account, Money Market Account, or Statement Savings Account Agreements and Disclosure Statements to Cardholders.  The ATM or debit card may also be used at participating Automated Teller Machines as previously described.

  3. The Cardholder will choose a confidential Personal Identification Number (PIN) which will enable customer to identify himself when using the Automated Teller Machines or point-of-sale terminals.  The ATM or debit card and the PIN are provided for the Cardholder's use and protection; at all times the Cardholder will use them and the Automated Teller Machines as instructed and for the purposes authorized by Peoples Bank and will not make or permit any unauthorized use thereof.  CARDHOLDER AGREES NOT TO REVEAL THE PIN IN ANY MANNER TO ANY UNAUTHORIZED PERSON OR TO WRITE OR RECORD IT ON THE CARD OR IN ANY OTHER PLACE ACCESSIBLE TO ANY UNAUTHORIZED PERSON.  Bank will assess a fee for a new PIN for an ATM or debit card.

  4. All transactions made through the use of the ATM or debit card by any person other than the Cardholder shall be deemed transactions authorized by the Cardholder if such person was furnished or given access to the ATM or debit card, and/or PIN by the Cardholder or some other authorized user.

  5. The Cardholder authorizes Bank to charge Cardholder’s Peoples Bank Checking Account, NOW Account, Money Market Account, or Statement Savings Account for all authorized transactions arising from the use of the ATM or debit card.  Cardholder agrees not to use the card (or allow it to be used) to make any withdrawal, transfer or payment from any Peoples Bank Checking Account, NOW Account, Money Market Account, or Statement Savings Account which results in an overdraft on said account, except when and as authorized by agreement by Bank and Cardholder.  Cardholder further agrees to assume responsibility for all authorized transactions arising from the use of the ATM or debit card.

  6. At times when the Cardholder may not be able to access the accounts through a Peoples Express 24 Automated Teller Machine, withdrawals from and deposits to Cardholder's account may be made at a Peoples Bank teller station.

  7. All withdrawals, deposits, transfers and payments resulting from the use of the ATM or debit card are subject to verification and adjustment by Bank.

  8. Cardholder shall immediately notify Bank if he suspects or discovers that the ATM or debit card has been lost or stolen, or that some unauthorized person has used or is about to use the ATM or debit card.  Cardholder shall give complete cooperation to Peoples Bank in its attempt to recover the ATM or debit card from authorized card users and shall assist in the prosecution of such persons.

  9. Cardholder agrees that the ATM or debit card is the property of Peoples Bank and the card may be revoked at any time, with or without notice.  Any revoked card must be surrendered to Peoples Bank.

  10. Bank may assess a fee to replace lost ATM or debit cards.

  11. Peoples Bank shall not be liable to Cardholder for damages other than for the actual amount of any error arising from any mechanical failure of the Peoples Express 24 Automated Teller Machine or any participating Automated Teller Machine.

  12. Peoples Bank may amend, modify or rescind this Agreement at any time, and from time to time, upon giving twenty-one (21) days advance written notice to the Cardholder.  (If disclosure of the change would jeopardize the security of the system or account, advance written notice may not be given.)  Such amendment, modification or rescission shall be binding upon Cardholder as fully as though expressly agreed to by him.

FURTHER CONDITIONS, TERMS AND AGREEMENTS FOR PEOPLES BANK 24 EXPRESS CHECK (DEBIT CARDS):

  1. When you use the debit card to pay for goods or services at a merchant or POS transaction, you agree: 

  1. That such use, whether or not you have signed any sales authorization, will constitute a simultaneous withdrawal from and/or demand from your checking account, even though the transaction may not actually be posted to that account.

  2. The merchant may be required to obtain an authorization from us for any transaction over a certain dollar amount.  The available balance in your checking account will be reduced by the amount of the transaction for which the merchant has received authorization from us, even if the documentation evidencing the transaction has not yet been received and processed by us.  When the documentation has cleared through us, the “hold” placed on your account for the amount of the transaction will be released and your checking account will be debited for the amount of the transaction.  (You agree to release us from liability based upon failure to authorize subsequent transfers and/or failure to pay other items drawn on your checking account because the processing of a previously authorized transaction may not be completed.)

  1. Charges made in Foreign Currency - if you incur a charge in a 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 provide for either a wholesale market rate of 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 posting date.  In addition, your account could be charged a pass-through assessment fee for foreign transactions.

PEOPLES BANK FUNDS AVAILIBLITY POLICY
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit.  Electronic direct deposits will be available on the day we receive the deposit.  Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.

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 5:00 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 5:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

If you make a deposit at an ATM before 1:00 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 at an ATM after 1:00 P.M. or on a day we are not open, we may consider that the deposit was made on the next business day we are open.

IIf we cash a check for you drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

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 on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit.  The first $100 of your deposits, however, may be available on the first business day.

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

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 eleventh business day of your deposit.

SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules may apply during the first 30 days your account is open. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 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. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 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 11th business day after the day of your deposit.

IMPORTANT DISCLAIMER AND INTELLECTUAL PROPERTY NOTICES
Peoples Bank endeavors to provide you with the highest quality online banking available. However, due to the unpredictable nature of the Internet, Peoples Bank does not guaranty that the website will be operational at all times.

Online bill payment is provided to you for your convenience. The actual payment of such bills is handled by an independent third party, Checkfree and Peoples Bank cannot and will not guaranty or be held responsible for the completion and accuracy of such transactions.

All Peoples Bank online banking transactions, with the exception of wire transfers, initiated before 4:00 p.m. on a business day will be posted to your account on that same business day. All transactions completed after 4:00 p.m. on a business day or on a Saturday, Sunday or Banking Holiday will be posted on the next business day. Wire transfers will be processed up to 3:00 p.m. on the same business day.

Please note that inclement weather closings may affect postings of Internet Banking Transactions. In any event, Peoples Bank is not liable for any direct, incidental, consequential, indirect exemplary or punitive damages arising out of your use of, or inability to use, this website even if Peoples Bank has been advised of the possibility of such damages.

Except as may be otherwise provided, all services and materials provided in connection with this website are provided "as is" and Peoples Bank makes no representations or warranties of any kind, express or implied, as to the operation of this website or the information, images, content, materials or products included on this website. To the full extent permissible by applicable law, Peoples Bank disclaims all warranties of merchantability and implied warranties of fitness for a particular purpose. Peoples Bank reminds you that the Internet lacks inherent security for commercial transactions and, therefore, Peoples Bank cannot and does not guarantee that downloads from this site will not contain a virus or other destructive device.

Additionally, you provide, request and receive information from this site with the knowledge that such information can be intercepted and/or viewed by unknown third parties. Please contact us at 828-466-1765 with any questions you may have regarding the above identified information and disclaimers.

The Internet Banking System is a trademark of Postilion, an S1 Company. (All other brand and product names are trademarks or registered trademarks of their respective owners.) Features and services availability are subject to change without notice. Online Banking profiles that are not used for ninety days will be deleted from the system causing the customer to contact the bank for re-enrollment. Peoples Bank may at any time revise this disclaimer by updating this posting. You are bound by any such revision and should therefore periodically visit this Website to review the then current disclaimer to which you are bound.

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