As a consumer who uses electronic funds transfer (EFT) services, you have certain rights and responsibilities relating to the EFT services. This EFT Disclosure Statement should be read and construed in conjunction with all other agreements and disclosures regarding your account and services. Your rights and responsibilities with respect to the EFT services are defined by the Electronic Funds Transfer Act (15 USC §1693, et seq.) and Regulation E of the Bureau of Consumer Financial Protection (CFPB). One requirement of this Act and the Regulation is that all financial institutions must make certain disclosures to all EFT users.
In this disclosure, we, us, our, CNB and the Bank mean The Canandaigua National Bank & Trust Company. You and your mean any owner or authorized signer on an account with the Bank. Business Days means Monday through Friday; Federal holidays are not included.
Types of Transfers. An EFT is made by electronic means. EFTs include transactions such as pre-authorized credits (e.g., direct deposits to your account) or pre-authorized debits (e.g., payments to third parties which are automatically deducted from your account). Pre-authorized debits and credits include transactions processed through the Automated Clearing House (ACH). ACH transfers can be recurring (e.g., bill payments) or non-recurring (e. g., electronic check conversion). Electronic check conversion occurs when you provide a merchant with a paper check. The merchant scans your check to capture the routing, account, and serial numbers from the check to initiate the transfer. For information on ATM/Debit card transactions, refer to the CNB Debit Mastercard and CNB ATM Card Agreement and Disclosure.
Pre-authorized Deposits. You may arrange to have third parties make regular deposits to your account by electronic means. Right to Confirmation: If you are scheduled to receive deposits on this basis, you may find out if the deposit has been made by: reviewing your account in Mobile/Online Banking; contacting our Call Center at (585) 394-4260 or (800) 724-2621; accessing our automated CNBanker Voice System by dialing (585) 394-5520 or (800) 283-1989.
Pre-authorized Debits. You may arrange to have third parties make regular payments directly from your account by electronic means. The Bank requires written notice from you that you have authorized a third party to obtain funds from your account electronically.
Limits on Pre-authorized Debits. The Bank will process these debits only if you have sufficient funds in your account. If your account has insufficient funds for an automatic payment that you have requested the Bank to make, you may be charged a fee for each paid presentment of the debit by the merchant, payee, or other third-party. (Please refer to the Bank's Fees For Special Handling disclosure.) If your Checking Account has a ChexMate Overdraft Protection Line of Credit associated with it, the terms and conditions contained in your ChexMate Overdraft Line of Credit Agreement will control with respect to overdrafts of your Checking Account regardless of whether they result from a pre-authorized debit.
Fees and Charges. All fees associated with the underlying account, including those stated in the Fees For Special Handling disclosure, remain in effect, including but not limited to overdraft fees. You must notify us of any fees you believe were improperly assessed within sixty (60) days after we sent the FIRST statement on which the fees appeared. If no report is made to us within such time, you waive your right to contest the fees and accept the Fees as assessed.
Right to Stop Payment on,
Preauthorized Transfers. If you have told us in advance to make regular payments out of your account, you can stop any of those payments. Here's how: Call our Call Center at (585) 394-4260 or (800) 724-2621 or write the Bank at The Canandaigua National Bank and Trust Company, 72 South Main Street, Canandaigua, NY 14424 in time for us to receive your request at least three (3) Business Days before the payment is scheduled to be made. If you telephone us, we may require you to put your request in writing and get it to us within fourteen (14) days after you call. We will charge you the current stop payment fee for each stop payment order you give. Please refer to the Bank’s Fees For Special Handling disclosure for information on charges for this service. Liability for Failure to Stop Payment: If you order us to stop a pre-authorized transfer at least three (3) Business Days before the transfer is scheduled and properly deliver this stop payment instruction, and we do not do so, we will be liable for your losses or damages.
Pre-authorized Debits - Notice of Varying Amounts. If regular pre-authorized payments vary in amount, the person being paid should tell you ten (10) days before each payment when it will be made and how much it will be. You may choose instead (by agreement with the payee) to get that notice only when the payment would differ by more than an agreed amount from the previous payment, or when the amount would fall outside limits that you set.
Disclosure of Account Information. We will disclose information to third parties about your account or the transfers you make: where it is necessary for completing transfers; to assist us in servicing your account with us; in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; in order to comply with a government agency or court order; or if you give us written permission.
Account Statement and Transaction Receipt(s). You will get a monthly account statement unless there are no transfers in a particular month. In any case you will get a statement at least quarterly.
Our Liabilities 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. Examples of exceptions from liability include but are not limited to:
- through no fault of ours, you do not have sufficient funds in your account to make the transfer
- the transfer would go over the credit limit on your overdraft line
- your equipment, including without limitation, and Access Device, Internet Service provider, telephone line, modem is not operating properly
- the terminal/service was not working properly, and you knew about the breakdown when you started the transfer
- you do not properly follow the instructional materials or Operating Instructions provided in connection with Mobile/Online Banking
- you do not authorize a Payment within a sufficient period of time for your Payment to be received by the payee by the due date
- you have not provided us with the correct Payee name, address, account information, Payment amount, or other instructions necessary to complete the Payment, or the foregoing instructions stored on your Access Device’s hard drive or the host system have been lost
- a Payee mishandles or delays the handling of Payments sent by us
- your funds are held or frozen, or a court order or other legal process prevents us from making a transaction
- your Credentials have been reported lost or stolen
- we have reason to believe that a transaction has not been properly authorized or authenticated, or is fraudulent, erroneous, or illegal
- you have exceeded the limitations on frequency of transactions or dollar amount of transactions applicable to the Service or the Account
- circumstances beyond our control (such as telecommunication, Internet or electrical outages and malfunctions, postal strikes or delays, computer system failures, or natural disasters) prevent the transaction
- making a transfer would cause us to violate any law, rule, or regulation to which we are subject
- any failure on our part which was not intentional and resulted from a bona fide error notwithstanding procedures to avoid such error, except for actual damages (which do not include indirect, incidental, special, or consequential damages)
There may be other exceptions to liability stated in this Agreement, or in other agreements we have with you, or otherwise provided by applicable law.
Customer Liability. You agree to tell us at once if you believe your account access information may have been used without your permission. You could lose all the money in your account plus funds available in your associated/linked accounts, if applicable. If you tell us within two (2) business days after learning about the loss or theft of your account access information, you can lose no more than $50 if someone used your account access information without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of account access information, and we can prove we could have stopped someone from using your account access information without your permission if you had told us, you could lose as much as $500. Also, if your account 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 sixty (60) days after your 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 stopped someone from taking the money if you had told us in time to prevent the loss. If extenuating circumstances prevent you from telling us within the allotted timeframes, we may extend the time periods.
In Case of Errors or Questions About Your Electronic Transactions. In case of Errors or Questions about your Electronic Transfers, call us at (585) 394-4260 or write us at:
Canandaigua National Bank & Trust
72 South Main Street, Canandaigua, New York 14424As 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, contact us. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared.
- Tell us your name and account number.
- Describe the error or the transaction you are unsure about and explain 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, TO THE ADDRESS PROVIDED ABOVE, TO BE RECEIVED BY US WITHIN TEN (10) BUSINESS DAYS.
We will determine whether an error occurred within ten (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 forty five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have 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 ten (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 ninety (90) days to investigate your complaint or question. For new accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error.
We will tell you the results within three (3) business days after completing our investigation. If we decide 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.
9.2023 ELECFUNDS