requested that we permit you to access an electronic funds transfer system
to make certain electronic funds transfers described in paragraph 10(b) and
(if applicable) that we issue to you an automated teller card or debit card
("Card"). By requesting, receiving, signing, using, authorizing another to
use or otherwise accepting the Card (including any replacement or substitute
Card), an electronic funds transfer or the electronic funds transfer system,
you and any authorized users, agree to be bound by this Agreement. The
electronic funds transfer system and any Card (if issued to you) are
collectively referred to in this Agreement as the "EFT System." References
in this Agreement to use of your Card also include use of the Card number
without use of the plastic. This Agreement applies to all persons that are
party to the accounts that are accessed through the EFT System. Every person
who owns or is authorized to use the accounts is responsible for the use of
the EFT System. In this Agreement, the terms "you" and "your" refer to each
party to the account and to each authorized user, and the terms "us," "we,"
and "our" refer to the Bank. Transactions and accounts governed by this
Agreement are also subject to applicable federal and Wisconsin laws and
regulations and any other rules or agreements governing or referring to the
transactions or accounts, including but not limited to account agreements,
debit card rules, funds availability rules, depository agreements and the
Operating Rules of the National Automated Clearing House Association. Except
as may be specifically indicated in this Agreement, in cases of
inconsistency or conflict between the other rules or agreements and this
Agreement, this Agreement shall control. You authorize us to charge your
account(s) for all authorized transactions resulting from the use of the EFT
System or resulting from any other authorized transfers and you assume all
responsibility and liability for all such transactions. All deposits,
payments and transfers made through the use of the EFT System or by any
other authorized transfer are subject to proof and verification by us.
Deposits made after our cutoff time will be credited the following business
2. Authorized Use of Card and PIN.
We will issue one or more codes or personal
identification number(s) (all called "PINs") to you for use in connection
with the EFT System. You agree not to disclose the PINs to anyone other than
authorized users of the EFT System. If anyone uses your Card or your PINs
with your permission, you will be responsible for any charges made to the
account. You agree to safely keep the Card and PINs, not to record the PINs
on a Card or otherwise disclose or make it available to anyone other than an
authorized user, and to use the Card and PIN only at terminals that accept
the Card and as instructed. Never enter the PIN in any terminal that does
not look genuine, has a suspicious device attached, or is operating in a
3. Liability Disclosure.
(a) Tell us AT ONCE if you believe your Card or
your PINs have been lost or stolen or if you believe there have been
unauthorized transfers to or from your account 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 of the money in your account (plus
your maximum overdraft line of credit.) Subject to limitations in paragraph
3(b), below, if you tell us within two business days after you learn of the
loss or theft of your Card or your PINs, you can lose no more than $50.00 if
someone used your Card or your PINs without your permission. But, if you do
NOT tell us within two business days after you learn of the loss or theft of
your Card or your PINs and we can prove we could have stopped someone from
using your Card or your PINs without your permission if you had told us, you
could lose as much as $50.00. Also, if your statement shows transfers that
you did not make, including those made by Card, PIN or other means, 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) Your liability for unauthorized
transactions made using your Card is further limited, and any applicable
conditions to these limitations on your liability for unauthorized
transactions using your Card are, as follows:
In no event can you lose more than $50 if
someone used your Card and its PIN without your permission to obtain money,
property or services through an automatic teller machine or point of sale
4. Address and Telephone Number.
If you believe your Card or PINs have been lost
or stolen or that someone has transferred or may transfer money from your
account without your permission, call 1-800-267-3610 or write Baylake Bank,
ATTN: Deposit Processing at 217 N 4th Ave, Sturgeon Bay WI 54235.
You should also call the number or write to the
address listed above if you believe a transfer has been made using the
information from your check without your permission.
5. Business Day Disclosure.
For purposes of these disclosures, our business
days are Monday through Friday. The following holidays are not included as
business days Federal Holidays.
6. Goods and Services Purchased.
If a merchant accepts the Card in payment of
goods or services, and you receive credit from the merchant for goods
returned or adjustments, your account will be credited. We will not make
cash refunds to you on purchases made with the Card. Unless your use
of the Card results in a loan from us to you, you must raise any claim or
defense with respect to goods or services purchased with your Card directly
with the merchant who honored the Card.
As to any transaction which (a) involves a sale
of goods or services which is paid for directly through a terminal; (b)
involves a transfer of $50 or more from a deposit account; and (c) does not
involve a check or draft, we shall, upon receipt within three business days
of the transmission of written or oral notice from you, reverse the
transaction and recredit your account.
8. Terminal Malfunctions.
Terminals and these services are available for
your convenience and we are not liable for the unavailability or failure to
operate of all or any part of a terminal. You release us from liability for
personal injury or property damage incurred by you in connection with use of
the Card or any terminal and consequential damages incurred in connection
with the use of a Card or terminal.
We may terminate your privilege of using the
EFT System and we and/or VISA and/or MasterCard as applicable may withhold
approval of any transaction at any time. The privilege of using the Card and
your PINs by any of you may be terminated by any one person who can use the
accounts accessible with the Card or PINs. The Card is our property and
shall be surrendered by you to us upon request and regardless of who
terminates the Card privileges. Termination shall not affect the rights and
obligations of the parties for transactions made with the EFT System before
the privileges are terminated.
10. Account Access.
You may make the following types of electronic
funds transfers: (a) You may use your Card (or in some cases the Card
number) and its PIN, when required, to accomplish the following transactions
(some of these services may not be available at all terminals.): (b) You may
make the following types of electronic funds transfers (other than by using
your Card): You may preauthorize a one-time and/or recurring debit(s) from
and/or credit(s) to your account(s).You may authorize a merchant or other
payee to make a one-time electronic payment from your checking account using
information from your check to (i) pay for purchases and (ii) pay bills.
11. Limitations on Transfers.
(a) Under federal regulations you may not make
more than six (6) transfers and withdrawals per month by means of a
preauthorized or automatic transfer, or telephone (including data
transmission) agreement, order or instructions or by check, draft, debit
card or similar order payable to third parties from each of your savings and
money market deposit accounts. If a transfer from your account will cause
you to exceed these limits, we may not execute the transfer. There are no
other limitations on the amount or frequency of preauthorized transfers to
or from your accounts. Transactions conducted with a Card at an automated
teller machine do not count toward these limitations. Your account is
subject to the following limitations, which may restrict your ability to
make electronic funds transfers. For security reasons, there may be
other limits on transfers you may make.
12. Notice Regarding Illegal Transactions.
You agree that you will not use your Card for
any illegal gambling or any other illegal transaction. We reserve the right
to block the use of your Card for a gambling transaction.
13. Overdrafts/Credit Account.
Each withdrawal or transfer from an account is
an order to us to pay from that account at that time, which we may charge
against the account even though the charge creates an overdraft. The time
required to charge or credit your account after you use your Card will
depend on the location of the terminal and the type of transaction, however
we reserve the right to charge your account immediately upon your request
for the funds transfer. If you overdraw your account you agree to
immediately pay us the overdrawn amount, together with any applicable fees.
If the account is maintained in connection with an overdraft credit plan,
any overdraft will be made in accordance with the agreement or rules
governing that account rather than this Agreement. If any account is a
credit account, such as a Visa card or MasterCard card account, you should
refer to the agreement provided in connection with that account for your
rights and responsibilities relating to transactions affecting that account
in which the Card is used.
14. Charge for Transfers.
We will charge you for electronic fund
transfers the fees, if any, identified in our current fee schedule
accompanying this Agreement, as may be amended from time to time. When you
use a terminal not owned by us, you may be charged a fee by the
terminal/network operator and you may be charged a fee for a balance inquiry
even if you do not complete a funds transfer. You will be notified of any
such fee when you use the terminal. You may also authorize a payee to
electronically debit from your account a fee because a check you presented
to the payee was returned for insufficient funds.
15. Terminal Transfers.
Unless you are transferring $15 or less to or
from your account using an electronic terminal that accepts your Card, you
can get a receipt at the time you make any transfer to or from your account
using an electronic terminal that accepts your Card.
16. Periodic Statements.
Unless the only type of electronic transfer
that you receive is a preauthorized deposit to your passbook account, you
will get a monthly account statement. If there are no transfers in a
particular month, you will get a statement at least quarterly.
17. Passbook Account Where the Only Possible
Electronic Fund Transfers are Preauthorized Credits.
you bring your passbook to us, we will record
deposits that were made to your account since
the last time
you brought in your passbook.
18. 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 1-800-267-3610 to find out whether or not the
deposit has been made.
19. Preauthorized Withdrawals.
(a) 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
1-800-267-3610 or write us at Baylake Bank, ATTN: Deposit Processing, 217 N
4th Ave, Sturgeon Bay WI 54235, 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 for each stop
payment order you give the charge for stopping payment identified in our
current fee schedule accompanying this Agreement as may be amended from time
(b) 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.
(c) Liability for Failure to Stop Payment of
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.
20. Our Liability For Failure to Make
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, your account
does not contain enough money to make the transfer.
- if the money in your account is subject to
legal process or other encumbrances restricting the transfer.
- if the transfer would go over the credit
limit on your overdraft credit plan, if any.
- if the terminal where you are making the
transfer does not have enough cash.
- if the terminal or transfer system was not
working properly and you knew about the breakdown when you started the
- if circumstances beyond our control (such as
fire or flood) prevent the transfer despite reasonable precautions that we
- if incomplete or inaccurate information is
forwarded by the U.S. Treasury or through an automated clearing house.
- as otherwise indicated in the Agreement.
21. Account Information Disclosure.
We will disclose information to third parties
about your account or the transfers you make: (a) to third parties where it
is necessary for completing or tracing transfers or resolving errors or
claims; or (b) to verify or disclose the existence, amount or condition of
your accounts for third parties, such as credit bureaus, merchants or other
financial institutions; or (c) pursuant to court orders and other legal
process; or (d) to comply with subpoenas, summonses, search warrants or
requests from government agencies; (e) to comply with state or federal laws
requiring us to provide information regarding depositors and their accounts
to governmental agencies; (f) to other companies affiliated with us, unless
you have opted out of such disclosure in accordance with our Deposit Account
22. Foreign Currency Conversion and
you use your Card or account for a transaction in a foreign country, the
transaction amount will be converted to U.S. currency. Depending on whether
you use a VISA or MasterCard debit card, VISA or MasterCard may do the
conversion. If the transaction is processed by VISA, VISA will use a
currency conversion rate it selects from the range of rates available in
wholesale currency markets for the day prior to the central processing date
of the transaction or the government-mandated rate in effect for the day
prior to the central processing date. If the transaction is converted by
MasterCard, MasterCard will use either a government mandated exchange rate
or a wholesale exchange rate. The rate MasterCard uses for a particular
transaction is the rate MasterCard selects for the applicable currency on
the day the transaction is processed. The rate used to convert a particular
transaction may differ from the rate VISA or MasterCard itself receives and
may differ from the rate applicable on the date the transaction occurred or
was posted to your account. In addition, a currency conversion assessment
equal to a percentage of the transaction amount debited to your account may
be charged and you agree to pay such currency conversion assessment, if any,
identified in the Schedule of Fees and Charges. You agree to pay charges and
accept credits for the converted transaction in accordance with these terms,
the Schedule of Fees and Charges and the then current applicable VISA or
MasterCard rules. Charges that are based on a percentage of the amount of
the transaction will be calculated on the transaction amount in U.S.
Currency. If a transaction is made in a foreign country or with a merchant
in a foreign country, you may be charged a fee equal to a percentage of the
transaction amount debited to your account in United States dollars, and you
agree to pay this international transaction fee, if any, identified in the
Schedule of Fees and Charges.
We may amend this Agreement upon giving you
such notice as may be required by law, effective upon the date indicated in
24. Additional Provisions.
attached VISA Card Addendum, which is
incorporated into this Agreement.