Electronic Fund Transfers

ELECTRONIC FUND TRANSFERS

YOUR RIGHTS AND RESPONSIBILITIES

The Electronic Fund Transfers we are capable of handling for consumers are indicated below, some of which may not apply to your account. Some of these may not be available at all terminals.  Please read this disclosure carefully because it explains your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Funds Transfers Initiated By Third Parties

You may authorize a third party to initiate electronic funds transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments networks. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant posts a sign informing you of their policy. In all cases, the transaction will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic funds transfers. Examples of these transfers include, but are not limited to:

  • Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
  • Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
  • Electronic check conversion. You may provide your check to a merchant or service provider who will scan the check for the encoded bank and account information. The merchant or service provider will then use this information to convert the transaction into an electronic funds transfer. This may occur at the point of purchase, or when you provide your check by other means such as by mail or drop box.
  • Electronic returned check charge. Some merchants or service providers will initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.

Please also see Limitations on frequency of transfers section regarding limitations that apply to savings accounts.

Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at (303) 293-2938 -or (877) 354-2265 (using your personal identification number (PIN)) and your social security number, to:

  • Transfer funds from savings to checking
  • Transfer funds from checking to savings
  • Transfer funds from checking to checking
  • Transfer funds from savings to savings
  • Get checking account(s) information
  • Get savings account (s) information

Please also see Limitations on frequency of transfers section regarding limitations that apply to telephone transfers.

ATM Transfers - You may access your account(s) by ATM using your ATM Access Card and personal identification number or Visa® Debit Card and personal identification number, to:

  • Make deposits to checking account(s)
  • Make deposits to savings account(s)
  • Get cash withdrawals from checking account(s); you may withdraw no more than $500.00 per business day
  • Get cash withdrawals from savings account(s); you may withdraw no more than $500.00 per business day
  • Transfer funds from savings to checking account(s)
  • Transfer funds from checking to savings account(s)
  • Get checking account(s) information
  • Get savings account(s) information

Some of these services may not be available at all terminals.

Types of Visa® Debit Card Point-of-Sale Transactions Using your card:

  • You may access your checking account to:
    • Purchase goods in person, by telephone or computer
    • Pay for services in person, by telephone or computer
    •  Get cash form a merchant, if the merchant permits, or from a participating financial institution, and do anything that participating merchant will accept
  • You may not exceed $2,000.00 in transactions per day

Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purposes. 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.

Computer Transfers - types of transfers and charges - You may access your account(s) by computer through the Internet by logging onto our website and using your User 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 account(s) with us
  • Get information about your checking or savings accounts

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

Mobile Banking Transfers.  You may access your account(s) by web-enabled cell phone, by Short Message Service (text messaging), Mobile Web or Mobile Application by using your User ID and password to:

  • Transfer funds from checking to checking ( not available for text messaging)
  • Transfer funds from checking to savings  (not available for text messaging)
  • Transfer funds from savings to checking (not available for text messaging)
  • Transfer funds from savings to savings (not available for text messaging)
  • Make payments from checking to loan account(s) with us (not available for text messaging)
  • Get information about your checking or savings accounts

You may be charged access fees by your cell phone provider based on your individual plan. Web access is needed to use this service. Check with your cell phone provider for details on specific fees and charges.

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 or savings account to another account or to third parties by preauthorized, automatic, telephone, computer transfers check, draft, debit card or similar mechanism are limited to six per month.
  • If you exceed the transfer limitations set forth above in any statement period, your account will subject to closure by the bank.

FEES

  • We charge $1.00 for using an ATM/Debit Card at an ATM not owned by us.
  • We charge  $5.00 to replace a lost or stolen ATM/Debit card and $35.00 for a rush order

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

DOCUMENTATION

Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or at point-of-sale terminals.  You may not get a receipt if the amount of the transaction 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 the telephone number listed below to find out whether or not the deposit has been made.

Periodic statements.  You will get a monthly account statement from us 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.  We charge $32.00 for each stop payment.
  • 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.

Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. If the unauthorized use of your lost or stolen card and/or code occurs through no fault of yours, no liability will be imposed on you. Otherwise, you will be liable for the lesser of:

  • $50 or
  • The amount of any money, property, or services obtained by unauthorized use of the card and/or code before you gave us notice.

Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. This rule does not apply if the unauthorized transfer was made using your lost or stolen card and/or code.

If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time period.

Additional Limit on Liability for Visa® Debit Card. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa® Debit Card. This additional limit on liability does not apply to ATM transactions, to transactions using your Personal Identification Number which are not processed by VISA®, or to commercial cards.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this disclosure. You should also call or write us at the telephone number or address listed in this disclosure 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 below, 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.

  1. Tell us your name and account number (if any).
  2. 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.
  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 10 business days.

We will determine whether an error occurred within 10 business days (5 business days for Visa® Debit Card point-of-sale transactions and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for Visa® Debit Card point-of-sale transactions and 20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation.

GUARANTY BANK AND TRUST COMPANY

P.O. BOX 5847

DENVER, COLORADO 80217

Business Days: Monday through Friday

Excluding Federal Holidays

Phone: (303) 293-5500 or (970)-454-4220


 
24-Hour Customer Service

Denver 303.293.5500 | Northern Colorado 970.454.4220 | Toll-free 1.877.609.5500