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Electronic Funds Policy

(Regulation E)

The following Disclosure Information is provided in compliance with REGULATION E by Bay-Vanguard Federal Savings Bank

This notice describes important terms and conditions under which we provide certain preauthorized credit and debit services to you.

TYPES OF AVAILABLE TRANSFERS AND LIMITS ON TRANSFERS

Our services allow you to ask that recurring deposits, designated by you, such as Direct Deposit of Wages, Social Security Benefits, Pension Payments, Dividend Payments and similar regular payments be deposited directly into your:

  • Checking Account
  • Money Market Account
  • Business Checking Account
  • Statement Savings Account

Additionally, it may be possible to arrange with some merchants, insurance companies, banks, credit unions, and other institutions, to have recurring bills paid automatically (a debit to your account) from your:

  • Checking Account
  • Money Market Account
  • Business Checking Account
  • Statement Savings Account

There is no limitation on the dollar amount of any of the electronic funds transfers that you can make with us.

There is no limitation on the frequency of electronic funds transfers when they are deposits into the account listed above. There is no limitation on the frequency of electronic funds transfers when they are a transfer of funds out of the accounts listed above, with the exception of third party electronic transfers out of a Money Market Account.

Only 6 third party electronic funds transfers per month can be made out of your Money Market Account. (The 6 third party electronic transfers per month that are allowed are reduced by each check that is cleared on the Money Market Account during the same month.)

CHARGES APPLICABLE TO TRANSFERS

Fees applicable to making electronic funds transfers we handle for you, including ATM/ DEBIT transactions, are listed on the Bank's current Service Fee Schedule. We reserve the right to impose or revise such charges at a future date. When you use an ATM not owned by us, you may be charged a fee by whomever owns the ATM for a balance inquiry even if you do not complete a fund transfer.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES

Bay-Vanguard does not and will not sell or provide personal information to third parties for independent use. We may, however, share personal information with service providers if that information is required to provide the product or service you have requested as follows: (1) where it is necessary for completing the transfers; (2) to service bureaus for data or account processing; (3) in compliance with any agreement between the Bank and a professional regulatory or disciplinary body; (4) in connection with collection of indebtedness or to report losses incurred by us; (5) in response to any subpoena, summons, court or administrative order, or other legal process which we believe requires our compliance; (6) to Chex Systems, Inc. or other account information services; (7) to MABS, Maryland Association for Bank Security, or other industry accepted security services; (8) and to anyone we reasonably believe is conducting a legitimate credit inquiry to verify the existence or condition of an account for a third party such as a merchant or credit bureau. You acknowledge that we provide, for your convenience, various means by which you can obtain information on your accounts, and that our reasonable security measures cannot absolutely ensure against "unauthorized" inquiries. You therefore agree that we will not be responsible for the release of any information to anyone not authorized by you who learned your identifying characteristics such as your personal identification number (PIN), account number, social security number, telephone access code, etc. You hereby authorize us to obtain credit reports, verification of employment and other information in respect to your accounts at any time.

RIGHT TO RECEIVE DOCUMENTATION

Electronic Funds Transfer transactions will be reflected on your monthly account statements in the case of Statement Savings,Money Market Accounts or checking accounts.If the transaction was made to a passbook account you should have your passbook updated from the last time you brought in your passbook regularly. 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 may call us at 410-477-5000 to find out whether or not the deposit has been made.

NOTICE OF WHAT CONSTITUTES A BUSINESS DAY

Our business days are Monday through Friday, excluding Federal Holidays.

RIGHT TO STOP PAYMENT

If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how:

Call us at any of our branches, write to us, or e-mail us at the address listed under Error Resolution Procedures in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

If these regular payments vary in amount, the person you are going to pay will tell you, ten (10) days before each payment, when it will be made and for 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 you set.

If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. You may not place a stop payment on any ATM, POS, or debit card transaction.

REPORT LOST/STOLEN CARD 1-800-523-4175

ERROR RESOLUTION PROCEDURES

In case of errors or questions about your electronic transfers, telephone us at 410-768-5300 or e-mail us at support@bayvanguard.com during our normal business days, Monday through Friday, excluding Holidays, from 9:00 a.m. to 4:30 p.m., or write to:

Bay-Vanguard Federal Savings Bank
8070 Ritchie Highway
Pasadena, MD 21122

You must contact us as soon as you can if you think your statement or receipt is wrong, or if you need more information about a transaction listed on your statement receipt. We must hear from you no later than 60 days after we send you the FIRST statement on which the problem or error appeared.

To receive prompt attention:

  • Tell us your name, Card number (if ATM transaction), and the account number(s).
  • Describe the error or transaction you are unsure about, and explain as clearly as you can why you believe an error has occurred or why you need the information.
  • Tell us the dollar amount of the suspected error.

If you notify us orally, we require that you send us your complaint or question in writing within 10 business days.

We will investigate your complaint and will correct any error promptly. In most cases we will take no more than 10 business days to complete our investigation. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If you believe that the error was the result of a foreign initiated transfer or a point-of-sale transaction, or if you have not been an account holder for more than 30 days, we may take up to 90 days to investigate the errors. We will credit your account within 10 days for the amount you think is in error, unless you have not been an account holder for at least 30 days, in which case we will credit the account within 20 days so that you will have the use of the money during the time that we complete the investigation.

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

OUR LIABILITY FOR INCOMPLETE TRANSACTIONS

If we do not complete a cash transaction 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 (available funds) in your account to make the transaction;
  • If the ATM where you are making the transaction does not have enough cash or supplies;
  • If the ATM system was not working properly, and you knew about the breakdown when you started the transaction;
  • If circumstances beyond our control, such as fire, flood, or loss of power, prevent the transaction, despite reasonable precautions we may have taken;
  • If there is a hold or alert on your account that would prevent a transaction from posting; or,
  • If you initiate a transaction in error or improperly use an electronic funds transfer service.

Institutions or merchants participating in the STAR system will not be liable for mechanical failure or other failure or if there is insufficient cash or supplies in the ATM.

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

AUTOMATED TELLER MACHINES

The use of the ATM service constitutes an agreement between the customer and Bay-Vanguard Federal Savings Bank that each will be bound by the terms and conditions in this disclosure as well as the Automated Teller Machine Agreement.

Types of Transactions: You may use your Card at any ATM bearing the STAR logo to:

  • Withdraw cash from your checking or statement savings account.
  • Transfer funds between your accounts with us; or,
  • Determine the balance in your account.

With your Card you can purchase goods and services from any STAR merchant. Payment for these purchases will be withdrawn from your checking account or statement savings account.

Funds from deposits may not be available for immediate withdrawal. For details, please refer to Bay-Vanguard Federal Savings Bank's rules governing Funds Availability. You may not withdraw in any one calendar day, by ATM transaction, more than $1,000 or the amount of the available balance in your account, whichever is less. You may purchase up to $1,000 worth of goods or services by ATM transaction in any one calendar day providing funds are available in your account.

Service Charges: There are certain fees charged to your account for some of the services above. Your account may also be charged a fee if a transaction is performed that causes your account balance to be overdrawn. When you use an ATM not owned by us, you may be charged a fee by whomever owns the ATM for a balance inquiry even if you do not complete a fund transfer. Fees charged by us are disclosed in our current Service Fee Schedule that is available at all of our offices or upon request and will be mailed to you when we receive your application. We reserve the right to change any fees or charges, and you will be given written notification at least 30 days in advance of any changes or revisions to any of our fees.

GENERAL INFORMATION CONCERNING OUR ATM/DEBIT PROGRAM

ATM Limit - $1,000 per day
Point of Sale Limit - $1,000 per day
First 5 transactions per statement cycle - No charge
In excess of five (5) transaction per statement cycle (including balance transfers and inquiries) - variable fee will apply. See Service Fee Summary. (This schedule is for charges for Bay-Vanguard and M&T Bank ATM machines only. Additional fees may be charged by other institutions when not using a Bay-Vanguard or M&T Bank ATM.)

ELECTRONIC CHECK CONVERSION

You may authorize a merchant or other payee to make one-time electronic payments from your checking account using information from your check to (1) pay for purchases or (2) pay bills.

Telephoning is the best way of keeping your possible losses down. You can lose all of the money in your account plus your maximum overdraft line of credit. If you tell us within two business days, you can lose no more than $50.00 if someone used your Card without your permission.

If you do not tell us within two (2) business days after the loss or theft of your Card and we can prove we could have stopped its unauthorized use had you told us in time, you can lose as much as $500.00. If your account statement shows transactions that you did not make, notify us at once. If you fail to notify us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have prevented the loss had you told us in time.

ADDIITIONAL LIMITS ON LIABILITY FOR VISA DEBIT CARD
(When Used for Point of Sale Transactions)

You will not be liable for any unauthorized transactions using your VISA Debit Card when used for point-of-sale transactions if: (1) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, (2) you have not reported to us two or more incidents of unauthorized use within the prior twelve-month period, and (3) your account is in good standing. If any of these conditions are not met, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. "Unauthorized use" means that the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit. This additional limitiation on liability does not apply to PIN-based transactions or transactions not processed by VISA.

VISA GIFT CARDS
Terms and Conditions

These are your Gift Card Terms and Conditions. Please read them carefully and keep them for your records. Please sign your card immediately, In these Terms and Conditions, “Gift Card” and “Card” means the VISA Gift Cards issued by CenterState Bank of Florida, NA. “You” and “Your” means the person who has received the Gift Card. “We”, “Us”, and “Our” means CenterState Bank of Florida, NA, our successors, affiliates or assigns. By accepting and using your Gift Card, you are agreeing to these Terms and Conditions. The Gift Card is neither a credit card nor an FDIC-insured product.

Card Access
The Gift Card is a prepaid card that can be used at retail establishments that have agreed to accept the Card and can process VISA point-of-sale transactions.

Card Limitations
You must have sufficient, available funds to pay for all Gift Card Transactions. If the purchase amount is greater than the available funds, the difference may be paid for with cash, check, or credit or debit card, subject to the policy of the merchant. If the merchant attempts to process the Gift Card for more than the available funds, the transaction will be declined. You may confirm your available balance or transactions 24 hours a day, seven days a week at www.harlandclarkgiftcard.com or by calling us toll free at 1-866-244-5360.You may only use your card in the manner and for the purposes described in these Terms and Conditions. Certain types of merchants, such as restaurants, gas stations, car rental agencies, and hotels, may obtain an authorization that exceeds the actual amount of your purchase. If the amount of the authorization exceeds the value remaining on you Card, the transaction may not be honored, even though the value remaining on your card is sufficient to cover the actual amount of your purchase. The Card may not be used to obtain cash from automated teller machines (ATMs) or for any other type of cash advance. Your card may not be used for illegal transactions or for any type of pre-authorized transaction such as recurring monthly dues or fees.

Foreign Transactions
If you obtain your funds (or make a purchase) in a currency other than the currency in which your Card was issued, the amount deducted from your funds will be converted by VISA U.S.A., Inc. into an amount in the currency of your Card. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by VISA U.S.A., Inc. itself receives, or the government mandated rate in effect for the applicable central processing date.

Fees
Your Gift Card will be charged:

  • $5.00 inactivity fee, assessed on the first day of each month after 12 full months of inactivity.
  • $5.00 cash out or lost stolen fee (new card issuance fee may also apply)

All fees are automatically deducted from your Card balance. If your Card balance is zero or becomes zero as a result of any fees, the Card will be terminated.

Documentation of Transactions
At the time of purchase, you will receive a receipt for the transaction. Retain the receipt for your records.

Disclosure of Information to Third Parties
We will disclose information to third parties about your Card or a transaction that you make; in order to verify the existence and condition of your card; in order to comply with government agency or court orders; In connection with examinations by banking authorities; for analytical purposes; if you give us written permission; and as otherwise permitted by law.

Disputes with Merchants
You agree to make a good faith effort to settle all disputes about purchases you make using your Card with the Merchant who accepted your card.

Your Liability For Card Use
Tell us AT ONCE if you believe your card has been lost or stolen. Telephoning is the best way of keeping your possible losses down. Call us toll free at 1-866-244-5360, 24 hours a day, seven days a week; write to: Cardholder Services, P.O. Box 550160, Ft. Lauderdale, FL 33355-0160 or visit www.harlandclarkegiftcard.com. If your card is used in connection with an unauthorized transaction that was processed through the VISA network, your liability will not exceed $0 if you reported the loss or theft of your card and, you did not act grossly negligent or fraudulently in handling your Card.

Disclaimer of Liability
In providing the Gift Card service to you, we disclaim any duty or responsibility other than those expressly set forth in these Terms and Conditions.

Expiration
Your card expires on the expiration date listed on the front of the Card, or when the entire value has been exhausted, whichever comes first. After the Card has expired, it is no longer valid. All transactions will be declined and funds are no longer available. Your Card may be subject to State law requiring us to turn over remaining funds on your Card to a government authority after a period of inactivity or dormancy.

Termination
The Card shall remain our property. We may, at anytime and without prior notice, cancel your Card by returning the Card to us. Termination of the card will not affect prior transactions or obligations existing at the time of termination. Upon termination, we will arrange to send you a check for your remaining balance, less outstanding transactions and fees, within six to eight weeks.

Amendment
We may amend these Terms and Conditions by mailing notice to you at your last address on our records at least 21 days prior to the effective date of any amendment that results in an increased fee or charge, an increase in your liability, a reduction in Card services, or stricter transaction limitations.

Assignment
You may not transfer or assign your Card rights to any other person without our prior written consent. We may assign our obligations to you under these Terms and Conditions without your consent or notice to you.

Severability/ No Waiver
If any provision of these Terms and Conditions shall be deemed unlawful, void or for any other reason unenforceable, then that provision shall be deemed severable from these Terms and Conditions and shall not affect the validity and enforceability of any remaining provisions. Our failure to enforce the strict performance of any provision of these Terms and Conditions will not constitute a wavier of our rights to subsequently enforce such provision or any other provisions of these Terms and Conditions.

Governing Law
These Terms and Conditions, the Gift Card and all transactions hereunder are subject to the laws of the State of Florida, the laws of the United States and VISA rules and regulations.

Notice of Errors
If you think a receipt is wrong or you have a question concerning a Card transaction, call us toll-free at 1-866-244-5360, 24 hours a day, seven days a week; write to Cardholder Services, P.O. Box 550160, Ft. Lauderdale, FL 33355-0160 or visit www.harlandclarkegiftcard.com as soon as you can. We must hear from you no later than 60 days after the transaction date and you must provide the following information: a. your name and gift card number, b. a description of the error or the transaction you are unsure about, and an explanation as to why you need more information, c. the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint in writing within 10 business days.

Arbitration
Any controversy or claim arising out of or relating to these Terms and Conditions or the provision of services shall be settled by binding arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any such controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in the State of Florida, and judgment on the arbitration award may be entered in any court having jurisdiction thereof. Either you or we may seek any interim or preliminary relief fro the court of competent jurisdiction in the State of Florida necessary to protect the rights or property of you or us (or our agents suppliers, and subcontractors) pending the completion of the arbitration.