FDIC/Regulations

FDIC Insured

FDIC insurance covers all types of deposits received at an insured bank, including deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, money market deposit account (MMDA), time deposit such as a certificate of deposit (CD), or an official item issued by a bank, such as a cashier’s check or money order. FDIC insurance covers depositors’ accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank’s closing, up to

the insurance limit.

The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments are purchased at an insured bank. For Information about FDIC insurance coverage visit The FDIC website. To calculate the insurance coverage of various deposit accounts, visit the FDIC’s Electronic Deposit Insurance Estimator (EDIE)

Regulation GG

Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006.The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling.

The Dept of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act. As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made”.

As a customer of The Bank of Bennington, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.

Regulation E

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 Fund Transfers Initiated By Third Parties.

You may authorize a third party to initiate electronic fund 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 or 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 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 fund 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 authorize a merchant or other payee to make a one-time electronic 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.

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to savings accounts.

Bank by Phone Telephone Transfers – Types of Transfers.

You may access your account by telephone 24 hours a day at 1-800-216-1103 using your personal identification number, a touch tone phone, 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 account
the last five deposits to checking accounts
the last five withdrawals from checking accounts
the account balance of savings accounts
the last five deposits to savings accounts
the last five withdrawals from 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 and MasterCard Check Card and personal identification number, to:

make deposits to checking account(s) with an ATM card or a debit card
make deposits to savings account(s) with an ATM card or a debit card
get cash withdrawals from checking account(s) with an ATM card or a debit card

you may withdraw no more than $500.00 per day (dollar limits may be higher upon bank approval)

get cash withdrawals from savings account(s) with an ATM card or a debit card

you may withdraw no more than $500.00 per day (dollar limits may be higher upon bank approval)

transfer funds from savings to checking account(s) with an ATM card or a debit card
transfer funds from savings to savings account(s) with an ATM card or a debit card
transfer funds from checking to savings account(s) with an ATM card or a debit card
transfer funds from checking to checking account(s) with an ATM card or a debit card
make payments from checking account(s) with an ATM card or a debit card to loan accounts with us
get information about the account balance of your checking accounts with an ATM card or debit card
get information about the account balance of your savings accounts with an ATM card or 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 ATM Card Point-of-Sale Transactions

You may access your checking 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 $2000.00 in transactions per day (dollar limits may be higher upon bank approval)

Types of MasterCard® Debit Card Point-of-Sale Transactions

You may access your checking account(s) to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions – Dollar Limitations

Using your card:

You may not exceed $2000.00 in transactions per day (dollar limits may be higher upon bank approval)

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 MasterCard® debit Card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The MasterCard currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by MasterCard. The exchange rate MasterCard uses will be a rate in effect on the day the transaction is processed. This rate may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account.

MasterCard charges us a Currency Conversion Assessment of 20 basis points (.2% of the transaction) for performing the currency conversion. In addition, MasterCard charges us an Issuer Cross-Border Assessment of 90 basis points (.9% of the transaction) on all cross-border transactions regardless of whether there is a currency conversion. As a result, we charge you a Currency Conversion fee of .2% and a Cross-Border Transaction fee of .9%. The Cross-Border Transaction fee is charged on all cross0border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the MasterCard Debit Switch in which the country of the merchant is different than the country of the cardholder.

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 Computer Transfers – Types of Transfers and Charges

You may access your account(s) by computer by logging onto our website at www.thebankofbennington.com and using your access ID and password, 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

please refer to our separate fee schedule for charges

make payments from savings to loan accounts with us
get information about:

the account balance of checking accounts
the account balance of savings accounts

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

Mobile Banking Services – Types of Transfer and Charges

You may access your account(s) on a mobile device by downloading the mobile app from The App store or Google Play Site and using your online banking username and password, 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 account with us
make payments from savings to loan accounts with us
make payments to third parties

Please refer to our separate fee schedule for charges

In addition to the electronic fund transfers listed above, you may also use these Mobile Banking Services to conduct the following:

obtain balances and other account information;
review account activity as made available by The Bank of Bennington;
deposit checks using the Mobile Deposit Services;

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, telephone, or computer transfer or by check, draft, or similar order to third parties are limited to six per month.
Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month with no transfers by check, debit card or similar order to third parties.

FEES

We do not charge for direct deposits to any type of account.
Please refer to separate fee schedule 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 a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, 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 802.442.1640 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 accounts.
You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

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.
A stop payment order will remain in effect until the earlier of (a) the withdrawal of the stop payment order by the Receiver, or (b) the Return of the debit Entry, or, where a stop payment order is applied to more than one debit Entry under a specific authorization involving a specific Originator, the Return of all such debit Entries.
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
as explained in the separate Privacy Disclosure.

UNAUTHORIZED TRANSFERS

(a) Consumer Liability

Generally. 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.

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 periods.

Additional Limit on Liability for MasterCard®. 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 MasterCard®. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by MasterCard®.

(b) 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 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 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 after we hear from you and will correct any error promptly. If we need more time, however, we may take up to (45) calendar days, (90) calendar days for new accounts, POS and foreign transactions, to investigate your complaint or questions. If we decide to do this, we will credit your account within (10) business days, (20) business days for new counts, 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 nit credit your account.

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.

USER PRECAUTIONS FOR ATM and NIGHT DEPOSIT FACILITIES

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. Never enter your PIN in any ATM that does not look genuine, has been modified, has a suspicious device attached, or is operating in a suspicious manner. 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

THE BANK OF BENNINGTON

155 NORTH STREET

BENNINGTON , VERMONT 05201

Business Days: Monday through Friday

Excluding Federal Holidays

Phone: 802.442.1640

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST

Security

SECURITY and FRAUD ALERT

Don’t be a Victim of Identity Theft! The Bank of Bennington will never send you an email requesting your account or PIN information. These types of hoax emails (a.k.a. spoofing or phishing) appear to be legitimate, however they are attempts to steal your personal information. To learn more about these scams, go to:

antiphishing.org or consumer.gov.

MONEY MATTERS FROM THE FTC

The Federal Trade Commission (FTC), the nation’s consumer protection agency, created a FTC Money Matters website to help you tackle some money issues head-on. Use this site to find Tips and resources on money matters. Check back often for updates and new topics.

FREE CREDIT REPORT

You can order your free annual credit report online, by phone or by mail. The only AUTHORIZED online source is annualcreditreport.com, or you can call 1-877-322-8228. For complete information go to www.ftc.gov.

CELL PHONE SCAM ALERT

The Bank of Bennington will never call your cell phone or send you a text message requesting your account or PIN information. We have been notified that some cell phones in Vermont have been targeted with scam phone calls in an attempt to get information about customer debit cards. The attack appears to involve many banks and credit unions in our area.

The scam involves automated calls or text messages to cell phones indicating that the recipient’s debit card has been locked or de-activated, and to follow prompts to re-activate the card. Doing so eventually results in prompts to input the 16 digit card number, and other information.

If you have been contacted with one of these messages and released your personal information to someone claiming to be from our institution, please contact us at 802.442.1640 .

LOST OR STOLEN ATM OR DEBIT CARD

For lost or stolen ATM or Debit Cards please call 802.442.1640 during normal business hours. During after hours, weekend or holidays please call 800.554.8969.