Online Banking Enrollment

Disclosures

Electronic Fund Transfers

Your Right & Responsibilities

Important Account Opening Information: Federal law requires us to obtain sufficient information to verify your identity. You may be asked several questions and to provide one or more forms of identification to fulfill this requirement. In some instances we may use outside sources to confirm the information. The information you provide is protected by our privacy policy and federal law.

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. We recommend keeping this notice for future reference.

Legacy Bank Online Computer Transfers

You may access your account(s) by computer through the internet by logging onto our website at www.grundynationalbank.com and using your password and user code, to:

• transfer funds from checking to checking
• transfer funds from checking to statement savings or money market
• transfer funds from statement savings to checking or money market
• transfer funds from statement savings to statement savings
• make payments from checking to loan account(s) with us
• make payments from checking or money market to third parties (GNB Bill Payment)
• make payments from statement savings or money market to loan account(s) with us
• get information about:
  • • the account balance of checking account(s)
    • the account balance of statement savings and passbook or money market account(s)
    • the account balance of certificates, IRAs and Christmas Club accounts

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 statement savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle with no transfers by check, debit card or similar order to third parties.
• Transfers from a money market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle with no more than three by check, draft or similar order to third parties.
• For security reasons, there are other limits on the number of transfers you can make by computer.

Documentation

Periodic statements

You will get a monthly account statement from us for your checking and statement savings accounts.

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:

1. If, through no fault of ours, you do not have enough money in your account to make the transfer.
2. If you have an overdraft line and the transfer would go over the credit limit.
3. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
4. 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: 

1. where it is necessary for completing transfers; or
2. in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
3. in order to comply with government agency or court orders; or
4. 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. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than $50 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, 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, 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.

(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 brochure.

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 (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 (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.

LEGACY BANK
P.O. BOX 2080
Grundy, Virginia 24614
Phone: 276-935-8111

Now you can access your account from your keyboard!

Your personal computer just added one more capability to its list of time-saving tools. Now you can access your accounts any time of day, any day of the week, using your computer. Legacy Bank Online lets you access certain account information and make simple transactions right from your home or office–or anywhere you have access to a personal computer.

24 Hour Access at your fingertips. We know that not everyone does their banking from 9 to 5. So, we’ve made it easy for you to access your account any time you choose to log on. Legacy Bank Online eliminates many of the trips you currently make to our branch. And, it gives you more control of your account by allowing you up-to-the-minute information on all account activity.

Fast and easy. In just a few keystrokes, you can check account balances, find out whether or not certain checks have cleared, obtain an update on available credit (if applicable), and get the latest information on rates and transfer funds from one account to another.

Apply today. Start enjoying the convenience and additional privileges of Legacy Bank Online today. Apply online at our website, www.mylegacybank.net. A user code (access ID) and password will then be sent to you. Before you know it, access to your account will be as close as your keyboard.

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