Rewards Checking Disclosure
Account Eligibility Requirements
To qualify for “REWARDS Checking” interest rates, you must:
· Receive your –periodic account statement electronically
· Have (1) one direct deposit or (1) one auto debit processed through your account per qualification cycle.
· If you have met your eligibility requirements for the qualification cycle, we will refund domestic ATM fees up to $20.00 per statement cycle.
“Qualification cycle” means -a period beginning one (1) business day prior to the first day of the current statement period through one business day prior to the close of the current statement period.
Account qualification requirements become effective after the first two (2) statement periods. If requirements are not met after this time, we will pay not less than the minimum interest rate on your account.
When the REWARDS Checking requirements are not met, the interest rate on your account and corresponding annual percentage yield (APY) is described in the chart below:
Balance Tier Interest Rate Annual Percentage Yield APY
All Balances .10% .10%
When the REWARDS Checking requirements are met, the interest rate on your account and corresponding annual percentage yield (APY) is described in the chart below:
Balance Tier Interest Rate Annual Percentage Yield APY
0-$25,000.00 0.75% 0.75%
$25,000.01 and Above 0.75% 0.75%
Compounding and Crediting
The daily balance method is utilized to determine which interest rate will be applied.
· Your interest rate and APY may change at any time at management’s discretion after account opening.
· Interest begins to accrue on the business day you deposit noncash items (for example, checks).
· Interest is compounded daily. Interest will be credited to your account on the last day of each statement cycle. If you close your account before interest is credited, you will not receive the accrued interest.
· We use the daily balance method to calculate the interest in your account. This method applies a daily periodic rate to the principal in the account each day.
Minimum Balance Requirements
You must deposit $100.00 to open this account.
The following fees may be imposed on this account:
· Maintenance fee .. .. none
· Fee for check return (insufficient funds-per check) $35.00
· Stop payment fee .. .. $30.00
· Check printing …… (fee depends on style of checks ordered)
We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal.
Regulation E Disclosures
Disclosure Pertaining to Compliance with Federal Electronic Fund Transfer Regulations
1. Contact in event of unauthorized transfer: If you believe your Card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 1-866-546-8273 to report immediately. Alternatively, you may write us at: One Edinburg Road, Hamilton, NJ 08619.
2. Liability for unauthorized use of Account(s): Tell us AT ONCE if you believe your Card 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, you can lose no more than $50 if someone used your Card 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 we can prove we could have stopped someone from using your Card 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 calendar 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.
3. Business days: Our business days are 8:00 AM to 5:00 PM EST, Monday through Friday, excluding Federal Reserve holidays.
4. Transfer types and limitations:
(1) Account access. You may use your card to:
(i) Withdraw cash from your account.
(ii) Make deposits to your account.
(iii) Transfer funds between your checking and savings accounts whenever you request.
(iv) Pay for purchases at places that have agreed to accept the card.
(v) Pay bills directly by telephone from your account in the amounts and on the days you request.
Some of these services may not be available at all terminals.
5. Confidentiality: We will disclose information to third parties about your account or the transfers you make:
a) Where it is necessary for completing transfers,
b) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant,
c) In order to comply with government agency or court orders, or
d) If you give us your written permission.
(1) Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using an automated teller machine or point-of-sale terminal.
(2) 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 609-514-3900 to find out whether or not the deposit has been made.
(3) Periodic statements. You will get a monthly account statement.
7. Preauthorized payments:
(1) 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’s how:
Call us at 1-609-514-3900, or write us at One Edinburg Road, Hamilton, NJ 08619, 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 will charge you$30.00 for each stop-payment order you give.)
(2) 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.)
(3) 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.
8. Financial institution’s liability: 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: (i) there is not enough money in your account to make the transfer; (ii) the transfer would exceed the available balance on your Funds Account(s); (iii) the automated teller machine where you are making the transfer does not have enough cash; (iv) the terminal or system was not working properly and you knew about the breakdown when you started the transfer; (v) circumstances beyond our control (such as fire, or flood) prevent the transfer, despite reasonable precautions that we have taken; or (vi) if there are other applicable exceptions stated in our agreement with you in addition to those detailed here.
9. Error Resolution Procedures: In Case of Errors or Questions about Your Electronic Transfers
Telephone us at 609-514-3900 Write us at One Edinburg Road, Hamilton, NJ 08619 or E-mail us at OnlineStmt@grandbk.com 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 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. If we decide to do this, we will credit your account within 10 business days 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.
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. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
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.
10. ATM fees: When you use an ATM, you may be charged a fee by the ATM operator or network. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer. If you meet the requirements for REWARDS Checking, those ATM fees will be reimbursed up to $20.00 per statement cycle.
11. Fees: There are no fees for these electronic transfer services.
Electronic delivery of Disclosure Statements
You may withdraw your consent to receive the disclosures electronically. In order to withdraw your consent, you must contact us in writing at Customer Service, One Edinburg Road, Hamilton, NJ 08619, or call us at 609-514-3900.