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24 ATM Card Disclosure

Revised 12/4/2015

This document includes a General Disclosure Statement and a Cardholder Agreement covering your Belmont Savings Bank ATM Card.

In this document we shall refer to the Belmont Savings Bank (“BSB”) as “we” and “us” where appropriate. We shall refer to the holder of our ATM Card as “you”. All of the terms and conditions set forth in this document are contractual in nature and will bind you and us with respect to your use of the card.

A. General Disclosure Statement

1. Use of Card. Your card cannot be used until it is activated. To activate your card, please call 1-800-992-3808, visit a branch or use a BSB ATM. You will choose a Personal Identification Number (PIN) at the time your card order is placed. The card and PIN are provided for your use and you agree to retain them and not permit other persons to learn your PIN. Your PIN should never be written on the card or kept with the card. Protect yourself: never give your PIN to anyone, not even a bank employee.

In order to keep your card activated, you must maintain a balance in your designated account(s). “Designated accounts” are defined as savings accounts and checking accounts. You may access your designated accounts at any Belmont Savings Bank ATM, Cirrus, or Accel network ATM. You may use your card to:

  • make withdrawals from your designated accounts;
  • make deposits to your designated accounts (only at Belmont Savings Bank ATMs);
  • obtain loans/transfers from your Belmont Savings Bank Line of Credit/Overdraft Protection Account, if any, by making withdrawals from your designated checking or NOW Account in excess of your collected balance;
  • make payments on any loan account at Belmont Savings Bank (only through a Belmont Savings Bank ATM);
  • conduct other transactions as we add services and features. We will notify you when such services are available.make transfers between your designated accounts.

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

2. Preauthorized Payments

  1. Generally – The initiation by you of certain electronic fund transfers from your account, will, except as otherwise provided in this disclosure, effectively eliminate your ability to stop payment of the transfer.


  3. Your right to stop preauthorized payments and the procedures for doing so. If you have told us in advance to make regular payments out of your account to a third party, you can stop any of these payments by calling us at:

8:30a.m. to 5:00p.m.
Monday through Friday (excluding holidays)
After hours, please call 1-800-472-3272

Or, writing us at:
Belmont Savings Bank
Electronic Banking Department
P.O. Box 146
Belmont MA 02478

We must receive your stop payment request at least 3 business days before the payment is scheduled to be made. If you call, we will require you to put your request in writing and return it to us within 14 days after you call. Once we have processed your stop payment request, we will stop all payments in the amount indicated by you to the third party named in your request, unless you instruct us in writing to resume making such payments. (We will charge you the amount indicated on the Schedule of Fees (https://www.belmontsavings.com/personal-banking-schedule-of-fees) for each stop payment order you give and you agree that we may debit your account for this amount.) You should also contact the third party to ensure any future recurring payments are cancelled.

  • Our liability for failure to stop payment. If you have properly requested us to stop any of these regular payments, and we do not do so, we will be liable to you for damages which you prove are directly caused by our failure to stop payment.

  • Notice of varying amounts. If these regular payments vary in amount, the person whom you are paying should tell you ten (10) days before each payment when the payment will be made and how much it will be. If, however, you prefer 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, you will receive the notice only at such times.

3.  Consumer Liability. Tell us AT ONCE if you believe your card or PIN 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). You can lose no more than $50.00 if you call to give us notice that your card/PIN has been lost or stolen or if someone used your card/PIN without your permission. Once you give us notice of the loss or theft of your card or PIN, you will not be liable for any unauthorized transactions that occur thereafter.

4.  Contact in Event of Unauthorized Transfer. If you believe your card or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call:

8:30 a.m. to 5:00 p.m.
Monday through Friday (excluding holidays)
After hours, please call 1-800-472-3272

Or write: Belmont Savings Bank, Electronic Banking Department, P.O. Box 146, Belmont Massachusetts 02478.

5.  Business Days. For purposes of these disclosures, our business days are Monday through Friday. Holidays are not included.

6.  Limitations on Frequency or Dollar Amounts of Transfers. Except as otherwise provided herein, you may use your card to withdraw up to $750.00 in cash, or daily limits set by us. The withdrawal limit described above represents the total amount which you can withdraw with your card on any one day. You can make up to twenty transactions per day. To maintain the security of the system, the cash withdrawal limit is reduced in some circumstances. You have the right to limit the daily amount to $50.00 per day. Contact us if you wish to do so. Deposits and payments made at any Belmont Savings Bank ATM after 2:00 P.M. may not be posted to your account until the next business day. There may be a delay of up to two business days in the posting of deposits or payments made at any ATM. All deposits, payments and other transactions with your card are subject to proof and verification. You may not use the card to transfer money to or from accounts which you do not have or which are not designated accounts. We shall not be required to complete any such transactions, but, if we do, you agree to pay us any excess amount for any improperly withdrawn or transferred amount immediately upon request from us. We may impose additional restrictions or limitations on the use of your card when we believe they are necessary to safeguard the card against misuse or when you have failed to follow proper procedures for accessing your designated accounts.

7.  Privacy Protection. In order that your privacy be protected, we will not disclose any information about you or your account to any person, organization or agency except:

  • for certain disclosures necessary for the completion of a transfer;
  • for verification of the condition and existence of your account for a credit bureau or merchant;
  • to persons authorized by law in the course of their official duties;
  • to our employees, auditors, service providers, attorneys or collection agents in the course of their duties;
  • pursuant to a court order or lawful subpoena;
  • to a consumer reporting agency as defined in Chapter 93 of the Massachusetts General Laws; or
  • by your written authorization which authorization shall automatically expire after 45 days of our receipt of your authorization.

If an unauthorized disclosure has been made, we must inform you of the disclosure within 3 days after we have discovered that the unauthorized disclosure occurred.

8.  In Case of Errors or Questions About Your Electronic Transfers. Telephone us at 1-888-762-4100 or write us at Belmont Savings Bank, Electronic Banking Department, P.O. Box 146, Belmont, MA 02478 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.
  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 notify us orally, we have the right to require you to send us your complaint or question in writing within 10 business days, following the date you notify us.

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 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.

9.  Documentation of Transfers.

  1. Terminal Transfers. You will get a receipt at the time you make any transfer to or from your account using any Belmont Savings Bank ATM, Cirrus or Accel terminal. However, you may not get a receipt if the amount of the transfer is $15.00 or less.

  2. Periodic Statements. You will get a monthly account statement from us for your checking or savings accounts. We will send you periodic statements electronically with your consent, in accordance with applicable law. You also have the right under applicable law to, at any time, withdraw your consent (and the consequences for doing so) is provided to you when you consented to receiving your statements and the disclosures electronically. You must log on and view your electronic banking statements during each statement cycle. If you have any questions regarding how you may sign up for electronic statements, or withdraw your consent, please contact our Electronic Banking Department at (617) 993-1400 Option 3.

10.  Electronic Fund Transfers Initiated by Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payments may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearinghouse (ACH) or other payments network. 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 fund transfers.

Examples of these transfers include, but are not limited to:

  1. 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 fund 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.

  2. Electronic returned check charge. Some merchants or service providers will initiate an electronic fund transfer to collect a charge in the event a check is returned for insufficient funds.

11.  Protected Consumer Use of Electronic Fund Transfer Services. Chapter 167B of the Massachusetts General Laws and Federal Regulation E (Electronic Funds Transfer Act) were enacted to provide a means for financial institutions, businesses and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize this system.

I. Prohibition of Compulsory Use. No person may:

i. Require you to use a preauthorized electronic fund transfer as a condition for the extension of credit unless the credit is being extended in connection with BSB Overdraft Protection to maintain a specified minimum balance in your account.

ii. Require you either to accept a transfer service or to establish an account which is accessed electronically as a condition of employment or receipt of governmental benefit, or

iii. Require you to pay electronically for the purchase of goods or services.
If your account is to be credited by a preauthorized transfer, you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such transfer.

  1. Waiver of Rights. No writing or agreement signed by you can waive the rights conferred to you by chapter 167B of the Massachusetts General Laws unless you decide to waive these rights in settlement of a dispute or action.

  2. Refunds. If it is the policy of a retail business or store to give cash refunds in return for an item purchased by cash, then this policy must also cover refunds for items purchased by electronic fund transfer, unless it is clearly and conspicuously disclosed at the time the transaction is consummated, that no cash or credit refunds are given for payments made by electronic fund transfers.

  3. Suspension of Obligations. If a person agrees to accept payment by means of an electronic fund transfer and the system malfunctions, preventing such a transfer, then your obligation is suspended until the transfer can be completed, unless that person, in writing, demands payment by other means.

  4. Prohibited Means of Identification. Your social security number cannot be used as the primary identification number, although it can be used as a secondary aid to identify you.

  5. Criminal Liability. Procuring or using a card, code or other means of electronic access to an account with the intent to defraud is a basis for criminal liability.

12.  Our Liability if We Fail to Make Certain 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 the transfer would go over the credit limit on your overdraft line.
  • 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.
  • If the funds in your account are subject to legal process or other encumbrance restricting such transfers.
  • There may be other exceptions stated in our agreement with you.

13.  ATM Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used to complete your transfer. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer.

14.  Fees and Services Charges. See our Schedule of Fees which is separately published and which has been furnished to you for any fees and service charges associated with your ATM card, or can be found at https://www.belmontsavings.com/personal-banking-schedule-of-fees. If your card is lost or stolen and you request a replacement card, we will charge you a replacement fee.

15.  Prima Facie Proof of a Transaction. Any documentation provided to you which indicate that an electronic fund transfer was made to another person shall be admissible as evidence of such transfer and shall constitute prima facie proof that such transfer was made.

16.  Terminating This Cardholder Agreement. You can terminate the Cardholder Agreement at any time by notifying us in writing and no longer using your card and PIN. We can terminate the Cardholder Agreement at any time without notice to you. If the Cardholder Agreement is terminated, we shall no longer be obligated to complete transactions involving your use of the card. Termination of the Cardholder Agreement will not affect your obligations under the Cardholder Agreement for transactions completed with your card and PIN, even if those transactions are completed after the termination date. To terminate the Cardholder Agreement, please write to us at Belmont Savings Bank, Electronic Banking Department, P.O. Box 146, Belmont Massachusetts 02478 and enclose your card(s) after having cut it/them in half.

B. Cardholder Agreement

1.  Use of Card. You agree to use your card only as described in the General Disclosure Statement. Your card is not transferable and remains our property. You agree to return the card to us immediately upon our demand. For your own protection, the Belmont Savings Bank ATMs, Cirrus, or Accel Terminals are programmed to retain cards in certain circumstances.

2.  Authorization. You authorize us to charge your designated accounts for money disbursed or payments made and to credit your designated accounts for deposits received in connection with transactions involving the use of your card.

3.  Maintenance of Accounts. As long as this Cardholder Agreement remains in effect, you agree to maintain at least one of your designated accounts. Should all of your designated accounts be closed, your card privileges will be cancelled and we may retain your card if you attempt to use it. Your designated account(s) shall continue to be governed by your other agreements with us concerning those accounts and by our Rules and Regulations concerning those accounts to the extent that such agreements are not inconsistent with this Cardholder Agreement.

4. Replacement of Lost or Stolen Cards. If your card is lost or stolen and you ask us to issue you a replacement card, you agree to pay a replacement fee for such replacement card and you agree that we may debit your account for this amount. See our Schedule of Fees for any related fees.

5.  Amendments to Cardholder Agreement. We may amend this Cardholder Agreement at any time. We will give you written notice at least 30 days before the amendment becomes effective if the amendment will result in increased costs or liability to you or stricter limitations on the transfer you may make. If, however, an immediate change in the Cardholder Agreement is necessary for security reasons, we may amend the Cardholder Agreement without such prior notice.

6.  Notices. Notices sent by us shall be effective when mailed to you at your last address that appears on our records. Except as otherwise provided in this Cardholder Agreement or by applicable law, notices from you to us must be in writing and will be effective when received by us.

7.  Collection Expenses. If we have to sue you or take other actions to collect amounts you owe us under this Cardholder Agreement, you will pay our reasonable expenses, including attorneys’ fees, to the extent permitted by applicable law.

8.  Joint Accounts. If your designated account(s) is/are a joint account, each account holder may exercise any and all rights under this Cardholder Agreement individually and shall be jointly and severally liable for the obligations incurred by any such exercise. Each account holder may use the card(s), may authorize others to use the card(s) may agree to any amendment to or termination of this Cardholder Agreement, may close any designated account and in the event that any such action is undertaken, such action shall be binding upon each joint accountholder.

9.  Terms Set Forth in General Disclosure Statement. All of the terms set forth in the General Disclosure Statement in Part A of this document shall be binding upon you and us as is specifically set forth in this Cardholder Agreement.

10.  Governing Law; Conflict with Applicable Law. The terms and provisions set forth herein will be constructed in accordance with the laws of the United States of America and the Commonwealth of Massachusetts. In the event of any conflict between these terms and provisions and any applicable law or regulation, these terms and provisions shall be deemed modified to the extent, but only to the extent, required to comply with such law or regulation.

11.  Ownership of Card. The card is not transferable and remains our property. You agree to return the Card to us immediately upon our demand. For your own protection, the BSB ATM, Cirrus, or Accel terminals are programmed to retain cards in certain circumstances.


I have read and understand this Disclosure. Click here to download ATM Card Application. »

This form requires confidential customer information. For security purposes, please mail the form to the Bank. Please avoid sending by email.

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