Online Banking Agreement and Disclosure
This Agreement and Disclosure contains the terms and conditions of Village Online Banking, the consumer Internet banking service of The Village Bank, the disclosures required by the Electronic Funds Transfer Act and additional information required by Massachusetts law. By using Village Online Banking you indicate your agreement to the terms and conditions of Village Online Banking. Please read this Agreement carefully. As an authorized account holder you must abide by the terms and conditions of this agreement, and those provided to you at account opening, in order to use this service. If you do not agree to these terms, do not complete your registration for the Services or use the Services.
Village Online Banking is a consumer electronic banking service that allows you to access account information, check balances, transfer funds and, if you elect to register for the additional service (and are approved), also to pay bills. Village Online Banking can be accessed through a traditional web-browser or mobile application. You may access Village Online Banking using a personal computer through the Village Bank’s web page on the Internet or through the Village Bank mobile application. Our Internet address is www.village-bank.com. For the purpose of this document, “you” and “your” shall refer to each depositor who signs up for Village Online Banking. “We”, “us”, “our” and “Bank” shall refer to The Village Bank.
By using Village Online Banking or by accepting these terms, you are (1) acknowledging your receipt of this Agreement and Disclosure, (2) agreeing that any contract you enter into with The Village Bank for the provision of certain Online Banking Services, may be in electronic form, and (3) agreeing that certain information that may be delivered in connection with the Services may also be in electronic form. Upon request, you have the right to receive this information in paper form.
You are also acknowledging receipt of the following information and agree that:
- You will check your e-mail regularly for Notices from The Village Bank.
- You will provide accurate, current and truthful registration information and contact information (including your e-mail address) and that you will keep this contact information up-to-date with The Village Bank.
- We may provide you with this Agreement and any revisions and amendments thereto in electronic form, and that, if you choose to accept the Agreement, you are consenting to enter into and are entering into an agreement electronically that will govern all future transaction you conduct using the Service.
- We may provide you revisions and amendments to the Agreement and such other information, including but not limited to information under Regulation E and under other applicable banking or financial services laws or regulations in connection with the Service, electronically as a part of the Agreement or otherwise as a part of the Services. While you may print and retain a copy of the Agreement or any information provided to you in relation to the Service, we only provide these documents electronically.
- You have a right at any time to withdraw your consent to receive information electronically. However, because the Agreement and the Information are provided only in electronic format, your withdrawal of consent will terminate all the Services.
If you wish to withdraw consent to receive information electronically, to terminate the Services, or to update your information such as a change of address, or email address, you may call The Village Bank at (617) 969-4300, or write a letter and send it to: The Village Bank, Attention: Customer Care, 320 Needham Street, Suite 200, Newton, MA 02464.
For the purposes of this agreement: “Village Online Banking” refers to the consumer electronic banking service offered by The Village Bank that allows consumer customers to access their accounts and certain features through a traditional web-browser or mobile application. “Business Day” refers to Monday through Friday, excluding holidays as determined by The Village Bank. “Time of day” refers to Eastern Standard Time. For business customers, please refer to the Village eBusiness Online Banking Agreement and Disclosure.
The Village Bank’s Regular Banking Hours: Please click here for our regular banking hours.
Hours of Operation: You may use Village Online Banking any time, day or night, seven days a week. Village Online Banking, however, may occasionally be temporarily unavailable due to Bank record updating or technical problems. In addition, access to Village Online Banking is made available according to the terms of a service agreement between the Bank and COCC. COCC created and owns software that makes Village Online Banking possible. Any interruption of service or access caused by COCC may prevent your use of Village Online Banking.
If the Account is a Joint Account, obligations and charges binding on any one of you under the terms of this Agreement will be fully binding on each of you, and each of you will be jointly and severally liable for the use of Village Online Banking and Bill Payment. If more than one person is authorized to withdraw and transfer funds from the Account, we may terminate the privilege of using Village Online Banking and Bill Payment or take other action upon the written request of one of you, without prior or subsequent notice to or approval by the other.
SERVICES AVAILABLE THROUGH VILLAGE ONLINE BANKING:
In addition to viewing account information, Village Online Banking allows you, if enrolled, to conduct the following transactions:
- Transfer funds to and from eligible accounts;
- Request transfers between eligible accounts and designated external accounts you maintain with third party financial institutions;
- Make payments from eligible accounts to loan accounts you have with us;
- Obtain account balance and certain deposit, withdrawal, and funds transfer information for eligible accounts;
- View images of cancelled checks;
- View transaction account history;
- Send and receive secure messages to and from the Bank;
- Change your contact information;
- Request stop payment of a check;
- Receive certain bills electronically;
- Schedule a bill payment to a third party from your eligible accounts;
- Inquire about previously scheduled bill payments;
- Cancel or skip a scheduled bill payment;
- Add a merchant;
- Request an expedited bill payment;
- View your e-statements;
- Deposit a check into an eligible account through the mobile app;
- Open an account online;
- Manage debit card limits, alerts, and other available card control options;
- Update customer information.
New services may be introduced from time to time. The Village Bank will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.
You may transfer funds only between eligible accounts. You may make transfers from your eligible checking or savings accounts to certain Village Bank loan accounts. These transfers will be processed as loan payments according to the terms of the individual loan account affected. You may not perform transfers from a Passbook Savings Account. You may not perform transfers to or from a Certificate of Deposit Account online. Because Federal regulations require The Village Bank to limit pre-authorized transfers (including Online Banking transfers), you may not make more than six transfers from your savings account(s) or money market account(s) each statement period whether to accounts you maintain with us or to third parties. All bill payments and transfers are subject to the terms and conditions of the deposit account being accessed. All transfers are made on collected funds only.
External Transfers Through Online Banking And Bill Pay: You can transfer funds to and from your eligible accounts and certain of your designated external accounts (“external accounts”) at eligible third party financial institutions. By using the external transfer’s service of the Village Online Banking and Bill Payment System, you authorize the Bank to initiate individual and/or recurring debit/credit entries to/from (between) your designated account(s) and external account(s) as indicated. For security purposes, you must first set-up an external account at an eligible third party financial institution for external transfers, before you will be able to transfer funds between that external account and your designated account(s) using external transfers. External account set-up may take three (3) business days or more, and includes (among other things) having you verify to the Bank the dollar amounts and dates of two “test” micro deposits (each of less than one dollar) the Bank will make to your external account. If you fail to verify the dollar amounts and dates of these two micro test deposits, we may for security reasons discontinue and cancel the external account set-up and reverse the two micro test deposits. If you do verify the dollar amounts and dates of the two test deposits in a timely fashion, we will reverse the two micro test deposits and finish setting up the external account.
- After your external account has been set up for external transfers, authorization will remain in full force and effect until you cancel;
- Each time you want to add a new external account for external transfers, we will use a similar verification process to the one described above;
Account Information: You may check the balances of your accounts that are accessed by Village Online Banking. NOTE: The balance figure may not reflect your most recent transactions, and may also include funds which may not be immediately available for withdrawal.
Overdrafts: You will have no right to and will not use the Village Online Banking and Bill Payment service to create an overdraft. If an overdraft is created, you will pay to the Bank, promptly, the amount of the overdraft including reasonable attorney’s fees, if incurred by us, in the event you fail to pay.
LIMITATIONS FOR ONLINE BANKING AND BILL PAYMENT SERVICES:
- Bill payments must be in U.S. dollars;
- We are not required to process funds transfers to third parties if we reasonably believe or suspect those third parties may be engaged in a gambling business, including Internet or casino or other forms of gambling;
- We are not required to process funds transfers to third parties if we reasonably believe or suspect those third parties are engaged in illegal activity;
- Maximum number of payees for a single user is 250;
- If we receive an expedited bill payment request for processing after the merchant cutoff time of the business day on which you want the expedited bill payment to be processed, we may delay processing (or delay completing the processing of) the expedited bill payment transaction until the next business day (and the crediting of the expedited bill payment by the participating payee or merchant may also be delayed until the next business day);
- If we are unable to process an electronic fund transfer to your designated merchant or other payee, you agree that we may submit a paper draft to your designated merchant or other payee for processing and payment.;
- You may not schedule a single bill payment for greater than $25,000;
- When scheduling a bill payment, please note the difference between the “SEND ON” date and the “DELIVERY BY” date. The “SEND ON” date is the date we will attempt to deduct the payment amount from your designated account. If the attempted deduction fails because you did not have enough funds in your account, we will send you an email indicating this situation. If the second attempted deduction is not successful, the transaction will be cancelled and you will be responsible for rescheduling. If the second attempted deduction is successful, the payment will be processed and remitted to the payee, however, the “DELIVERY BY” date will be one business day later. If you receive an email because the first attempted deduction was not successful, you should access Village Online Banking and Bill Payment to determine the date of the second deduction attempt. The “DELIVERY BY” date is the date that you can expect the payee to receive your payment. The “DELIVERY BY” date for your bill payment should be no later than the due date the payee has indicated for the payment.
AVAILABLE TRANSACTIONS: IRA (INDIVIDUAL RETIREMENT ACCOUNT) and CERTIFICATE OF DEPOSIT ACCOUNTS.
Unless your access to Village Online Banking and Bill Payment has been restricted by the Bank, you may use your access to:
- Obtain account balance information for certain accounts (balances shown may include deposits still subject to verification and may not include deposits in progress, or other withdrawals, payments, transfers, or charges);
- Obtain account transaction history for certain accounts and;
- Other services we may make available from time to time in our sole discretion.
MOBILE DEPOSIT CAPTURE
Unless your access to utilize mobile deposit capture has been restricted the following terms and conditions apply:
Deposit Checks: We will accept checks payable to you, drawn on a U.S. bank. We will not accept checks payable to others, traveler’s cheques, money orders, foreign checks, substitute checks, altered checks, and returned checks, postdated or stale dated checks (more than 6 months old). You are responsible for the quality, completeness, accuracy, validity and integrity of any item image transmitted to us using Mobile Deposit Capture. The Village Bank, in its sole discretion, reserves the right to verify and deny any and all items being deposited using Mobile Deposit Capture.
Limits: Deposit up to $5,000 a day. Lower limits may apply for newer accounts. Higher limits are reviewed on a case by case basis.
Endorsement: Endorse the check and add “For TVB Mobile Deposit Only” below your signature. All deposits are subject to verification and can be adjusted upon review. Failure to properly endorse your checks may result in your deposit being declined.
Availability: A check submitted to The Village Bank electronically for deposit is not deemed received until The Village Bank accepts and confirms receipt of your Check Image deposit. Typically, funds deposited via Mobile Check Deposit are available on the next business day however we may delay availability of funds from any deposit you make through Mobile Check Deposit at any time at our sole discretion. This includes any concern we may have regarding our ability to collect the funds based upon any check image that you present. If availability is needed sooner, depositing a check within the Branch rather than through Mobile Check Deposit is available and may expedite the availability provided no other factors are present allowing for the placement of a delay on the availability of funds
Deposits received by The Village Bank by 5 pm EST will be available on the first business day after the day of deposit. If your deposit is received after 5 pm EST, we will consider the deposit made on the next business day we are open.
Funds you deposit may be delayed for a longer period under the following circumstances: (a) if we believe a check you deposit will not be paid; (b) if you deposit checks totaling more than $5,525 on any one day; (c) if you have overdrawn your account; or (d) if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment. We will notify you if we delay your availability 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 sixth Business Day after the day of your deposit. If you should need the funds from a deposit sooner, you should make your deposit in person and ask us when the funds will be available.
Please retain your original check for 30 days in a secure manner. Customers must be able to provide the check to the Bank in case information needs to be verified during that time frame. After 30 days, please shred the check.
By using Mobile Deposit Capture you authorize the Bank to make inquiries from any consumer reporting agency, including a check protection service, in connection with this service.
The Bank makes no warranties that Mobile Deposit Capture will be error free, secure, and uninterrupted – you agree that the use of the Mobile Deposit Capture is at your own risk and on an “as is” basis.
We reserve the right to deny access to the use of our Mobile Deposit Capture Service without prior notice if it is unable to confirm your authority to access the Mobile Deposit Capture Service or we believe such action is necessary for security reasons.
The Village Bank’s Schedule of Fees: Please refer to the Bank’s Schedule of Fees for all current applicable fees. These fees are subject to change. The Village Bank will notify you in writing regarding any fee changes at least thirty (30) days in advance of the effective date of the change. If a monthly service charge applies, we will automatically deduct it from your designated account beginning thirty (30) days from the date of application, unless a different date is agreed to. We will continue to charge your account monthly on the same day (or the next business day if the due date falls on a weekend or holiday) until the service is discontinued. Please refer to the most recent Truth in Savings Disclosure and Schedule of Fees you were provided for important information regarding minimum balances and rates of interest. A copy of The Village Bank’s current Schedule of Fees is available upon request at any of our branches, or can be mailed to you upon request by calling The Village Bank at (617) 969-4300, or writing a letter and sending it to: The Village Bank, Attention: Customer Care, 320 Needham Street, Suite 200, Newton, MA 02464.
Additional fees may apply to your accounts that may be accessed through Village Online Banking and Bill Payment. Please refer to the Schedule of Fees for a list of current fees. We will provide you with notice of changes to the Schedule of Fees as required by law. In addition to any fees that the Bank may charge you for its products and services, you may be billed separately by your online access or telecommunications provider, by your other financial institution(s) and/or payment recipients.
In order to use the Village Online Banking and Bill Payment service, you agree that you must provide or obtain access to the following:
- A computer and modem or other device capable of accessing the Internet;
- An active “Internet Service Provider” and an e-mail address;
- A Web Browser that supports 128-bit SSL encryption that has “cookies” enabled;
- Either a printer or sufficient electronic storage space to print or download agreements and disclosures (including this Agreement and any notice or disclosure we send to you concerning any change to this Agreement, and any confirmation, notice, or other information provided or made available to you electronically on or through the Site);
- We may make information available to you electronically on or through the Site in HTML and Portable Document Format (PDF). To access information in PDF, you will need access to Adobe® (Acrobat®) Reader® or Apple Inc.’s Preview software or other Portable Document Format (PDF)-compatible software. Adobe, Acrobat and Reader are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries.
The Village Bank does not make any warranties on equipment, hardware, software or ISP Service, or any part of them, expressed or implied, including, without limitation, and warranties of merchantability or fitness for a particular purpose. The Village Bank is not responsible for any loss, injury or damages, whether direct, indirect, special or consequential, caused by the Internet Provider, any related software or Village Online Banking or the use of any of them or arising in any way out of the installation, use or maintenance of your personal computer hardware, software or other equipment.
You must enter your Village Online Banking User ID and Password at the start of each Village Online Banking session. Your password and security questions are confidential and you are responsible for keeping them confidential. You agree not to disclose or otherwise make your password or security questions available to anyone not authorized to withdraw funds from your account. You further agree that you will log-out of your Village Online Banking session when you are done using it. This is especially important when using a computer that is for public use, as someone else would be able to access your information if you did not properly end your online session. Village Online Banking software employs sophisticated encryption to ensure secure transmission of data. To further ensure that Village Online Banking transmissions are kept confidential, Village Online Banking security meets the requirements of the American National Standards Institute for password security. By using Village Online Banking, you agree with us that Village Online Banking security procedures are commercially reasonable and sufficient to insure that Bill Payment and transfer instructions or other communication we receive from you have in fact, been made by you. To determine this, you must consider the size, type and frequency of Bill Payments, transfers or other communications that you anticipate making. In short, by using Village Online Banking, you have determined Village Online Banking is secure for your purposes. If the size, type and frequency of your Bill Payments and transfers change, and because of these changes you determine that Village Online Banking security procedures cease to be commercially reasonable and sufficient, you must inform the Bank of this immediately. Such a determination necessarily means you will no longer use Village Online Banking for any purposes. If you wish to learn more about Village Online Banking security, please contact our Customer Care Center at (617) 969-4300.
Information concerning Village Online Banking transactions will be shown on your regular monthly statement for the accounts to and from which transfers or payments are made.
THE FOLLOWING SECTIONS CONTAINS DISCLOSURES REQUIRED BY FEDERAL AND STATE REGULATION:
Liability for Unauthorized Use: You will notify the Bank immediately if you believe that your username or password has become known to an unauthorized person. Notifying us by phone is the best way of keeping your possible losses to a minimum. If you believe that an unauthorized transfer or payment may have occurred, we may require you to sign an affidavit. Your maximum liability for a disclosed password is $50. If your statement shows unauthorized Bill Payments from your account, tell us at once and you will only be liable for losses up to a maximum of $50. If you do not tell us within 60 days after we sent you the first statement upon which the problem appeared, you may not get back any money lost after the 60 days, if we can prove we could have stopped the unauthorized transfer if you had told us in time.
Notification of Unauthorized Transaction or a Lost or Stolen Access Device: If you believe your password has become known by an unauthorized person or that someone has transferred money or made payments without your permission, immediately call The Village Bank Customer Care Center during regular banking hours at (617) 969-4300.
Liability for Failure to Make Payments: If we do not send a payment or make a transfer on time or in the correct amount according to your instructions and in accordance with this Agreement and Disclosure; we will be liable for damages caused. However, there are some exceptions. We will not be liable for instance, if:
- Through no fault of ours, your account does not contain sufficient funds to make the payment of transfer;
- The equipment, ATM network, phone lines, or computer systems were not working properly or were temporarily unavailable;
- Circumstances beyond our control, such as fire or flood, prevented the payment or transfer, despite reasonable precautions that we have taken;
- A court order or legal process prevents us from making a transfer or payment;
- You have previously reported or if we have a reasonable basis for believing that an unauthorized use of your password or designated account have occurred or may be occurring or if you default under any agreement with us or if you or the Bank terminates this Agreement;
- The payee does not process a payment correctly or in a timely manner;
There may be other exceptions stated in our other agreements with you. If any of the circumstances listed immediately above occur, we will make a reasonable effort to take appropriate corrective action or to reprocess the transactions that may not have been completed or to correct transactions that have incorrectly been processed.
Errors or Questions: You should telephone The Village Bank Customer Care Center at (617) 969-4300 or write The Village Bank, Attention: Customer Care, 320 Needham Street, Suite 200, Newton, MA 02464 as soon as you can, if you think a statement is wrong or if you need more information about a Bill Payment or Transfer listed on the statement. We must hear from you no later than 60 days after we send the first statement on which the problem or error appeared. A statement is considered to have been sent when it is first made available. You must:
- Tell us your name and account number;
- Describe the error or payment you are unsure about, and explain as clearly as you can why you believe it is an error or why you need information;
- Tell us the dollar amount and date of the suspected error;
- If you tell us verbally, we may require that you send your complaint or question in writing within 10 business days. We may also require you to provide your complaint in the form of an affidavit.
We will inform you of the results of our investigation 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 days to investigate your complaint or question. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days for new accounts) for the amount you think is in error; so that you will have the use of your money during the time it takes us to complete our investigation. We will notify you whether or not an error occurred within 3 business days of resolution. If we determine that there is no error, we will send you a written explanation within 3 business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
Other Problems: If you believe an error other than an electronic funds transfer problem has occurred concerning a deposit account please call our Customer Care Center during regular banking hours at (617) 969-4300.
Account Information Disclosure: We will disclose information to third parties about your account and the payments or transfers you make:
- When it is necessary for verifying or completing payments or transfers, or resolving a problem relating to a payment or transfer;
- In order to verify the existence and the condition of your account for a third party, such as a credit bureau or merchant; In order to comply with government agency or court orders; To an employee or other auditor of Village Bank solely for the purpose of an official audit or accounting or to any other person for the purpose of servicing the account relationship, including preparation of the periodic statement of account, but only to the extent actually necessary;
- To any attorney or collection agent of the Bank; If you gave us your written permission; or as otherwise permitted by law, or as required by government regulation.
Recurring Deposits: If you have arranged to have deposits made to a deposit account at least once every 60 days from the same person or company, you can find out whether or not the deposit has been made through Village Online Banking. To learn if a deposit has been made, you can also call Customer Care Center at (617) 969-4300.
Other Conditions: You are responsible for complying with all terms of this Agreement and Disclosure and the regulations governing the deposit accounts which you access using Village Online Banking. We can terminate your Village Online Banking privileges without notice to you if you do not pay any fee required in this Agreement and Disclosure when due or if you do not comply with any of the other terms and conditions of this Agreement. You may terminate Village Online Banking by providing the Bank with written notice of your desire to do so.
We may convert your account to inactive status if you do not sign on to the service or have any transaction scheduled through the service during any consecutive 180 day period. If your account is considered inactive, you must contact us to have the service activated before you will be able to schedule any transaction through the service.
Alerts/Messages: Internet banking alerts allow you to set up automated alert events based on your own criteria. Alerts may be sent via email, text, or in an online message box within Village Online Banking, or both. Email and text alerts will be sent to the email address and cellular phone number you provide in creating the alert.
- The Bank may add or remove types of alerts from time to time;
- If you change your email address or cellular phone number you are responsible for changing this in the alerts you have already set up;
- You agree that alerts may be delayed or prevented for a variety of reasons;
- We do not guarantee the delivery or validity of the contents of any alert;
- You agree that we shall not be liable for any delays, delivery failure or misdirected delivery of any alert;
- You agree that we shall not be liable for any actions taken or not taken by you or anyone else in reliance of an alert;
- The bank will never include your password or full account number in an email alert, however you understand that alerts may include your name and some information about your accounts;
- Unfulfilled events (events that do not happen) will only remain on the system for 999 days. You will not be notified when they are removed;
- Distributed events (events that have happened and have been viewed) will remain on the system for 30 days.
Stop Payment Requests: By utilizing this feature, you warrant that the information you provide attempting to stop payment is correct and if any incorrect information is provided, the Bank will not be responsible for failing to stop payment on the item. You agree that the request must be received within a reasonable period of time for the Bank to act upon the request. If a stopped item has already been paid prior to the Bank receiving the request, the Bank shall not be liable for any loss incurred by the consumer arising from the event.
Limit of The Village Bank’s Responsibility: The Village Bank agrees to make reasonable efforts to ensure full performance of Village Online Banking. The Village Bank will be responsible for acting only on those instructions sent through Online Banking which are actually received, and cannot assume responsibility for circumstances over which the bank has no direct control. The limit of The Village Bank’s liability shall be as expressly set forth herein. By consenting to use the Services mentioned in this agreement, you agree to waive any and all rights to hold The Village Bank liable in contract, tort, or otherwise for any special, incidental, or consequential damages, whether or not foreseeable.
Other Agreements/Disclosures: In addition to this Agreement, you and The Village Bank agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking service or the Online Bill Payment Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures received by you when you opened your accounts at The Village Bank including the charges that may be imposed for electronic funds transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule at the end of this Agreement. We will automatically deduct any fees related to this Service from your designated account each month. All terms and conditions of the disclosures provided to you at account opening, including but not limited to, the applicable Truth in Savings Disclosure, the Electronic Fund Transfer Agreement and Disclosure, the Deposit Agreement and all appropriate Terms and Conditions that apply to this Service.
Change in Terms: We will mail or deliver a written notice to you at least 30 days before the effective date of any change in a term or condition disclosed in this Agreement and Disclosure, if the change would result in increased fees or charges, increased liability for you, fewer types of available electronic fund transfers or stricter limitations on the frequency or dollar amounts of transfers, unless prior notice is excused by law.
Additional Information Required by Massachusetts Law: Any documentation provided to you which indicates that an electronic funds transfer was made shall be admissible as evidence of transfer and shall constitute prima facie proof that the transfer was made. The initiation by you of certain electronic funds transfers from your account will, except as otherwise provided in our Electronic Funds Transfer Disclosure, effectively eliminate your ability to stop payment of the transfers. Unless otherwise provided in our Electronic Funds Transfer Disclosure, you may not stop payment of electronic funds transfers; therefore, you should not employ electronic access for purchases or services, unless you are satisfied that you will not need to stop payment.
Protected Consumer Use of Electronic Funds Transfers: Chapter 167B of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize electronic funds transfers.