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Electronic Fund Transfers Disclosure

Electronic Fund Transfers Disclosure

(Consumers Only)

YOUR RIGHTS AND RESPONSIBILITIES

These are the 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 with respect to Electronic Fund Transfers. The protections described within this disclosure apply to a consumer’s account (an account used for personal, family or household purposes). Business Accounts do not have the same protections provided to consumers.  You should keep this notice and retain it for future reference.

Electronic Fund Transfers Initiated by a Merchant or Other Third Party – You may authorize a merchant or other third party to initiate electronic fund transfers between your account and the merchant or third party’s account. These transfers to make or receive payment 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 merchant or other third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant or other third party posts a sign informing you of their policy. In all cases, the transaction will require you to provide the merchant or other third party with your account number and bank information. This information can be found on your check as well as a deposit slip. Thus you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted merchants and third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

Same-Day Electronic Payments Certain payments processed through the Automated Clearing House (ACH) may be deducted from your account on the same-day you initiate or authorize the payment.    

For example, an ACH transaction may be created and deducted from your deposit account when you provide or enter our bank’s nine-digit routing number (031302997), along with your deposit account number, to make a payment or transfer from your deposit account on a website or over the telephone. Keep in mind, paper checks that you write may also be converted by the payee to an ACH transaction.    

We have no control when an ACH transaction will be presented and deducted from your account as this will depend upon how the originator (i.e. a company, merchant or person to whom you are paying or transferring money) and the originator’s bank process the transaction.

Because ACH transactions may clear through your account on the same-day, we recommend that you make sure your deposit account has sufficient available funds before you initiate or authorize ACH transactions or write checks on your deposit account to avoid insufficient or uncollected fund charges.

Same-day electronic payments do not affect the processing of debit card transactions and scheduled or recurring ACH transactions, which will be deducted from your deposit account on the scheduled date.

ATM Transactions – Allpoint, Accel, and Plus Networks types of transfers and dollar limitations – You may access your accounts by ATM using your American Bank ATM Card and personal identification number (PIN) or Visa Debit Card and personal identification number (PIN) to:

Some of these services may not be available for all accounts or at all terminals. Please refer to the “ATM & Point-of-Sale Transaction, frequency limitations” section and “Limitation on Frequency of Transfers” in this section regarding limitations that apply to ATM and Debit Card transactions.

Surcharge Free Networks – You will not incur a surcharge when you withdraw cash using your American Bank ATM Card or Debit Card when these logos are displayed: Allpoint and Accel if the financial institution participates in the No SUR! surcharge-free program. To locate surcharge free ATMs, visit our website /tools-resources/find-a-surcharge-free-atm/.

Debit Card Point-of-Sale Transactions - Visa, Accel and Plus Networks

You may access your checking accounts anywhere the Visa, Plus and Accel logos are displayed, to purchase goods (in person, by phone or by Internet), pay for services (in person, by phone or by Internet), get cash from a merchant, if the merchant permits or from a participating financial institution, and do anything that a participating merchant will accept.  Please refer to “Other Fees & Charges Disclosure” when overdraft or uncollected fees may apply.

Dollar and Frequency Limitations

Fraud Protection for your ATM Card and/or your Visa® Debit Card – Your financial protection is our primary concern, and we are committed to providing you with the most advanced fraud protection solutions available in the market place. In keeping with this commitment, we have implemented a tool which allows us to restrict ATM and Debit Card use in countries identified by us as having a high volume of fraudulent activity (“Blocked Countries”).  Therefore, before traveling outside the United States, you should check our website and review the list of Blocked Countries or call us at 610.366.1800 or 888.366.6622.  As situations may warrant, our list of Blocked Countries may change in the future, so please refer to our website, AMBK.com, or call us at 610.366.1800 or 888.366.6622  to obtain the most current list of Blocked Countries.  If you are planning to travel to a country listed in our "blocked" list, please give us a call so that we may discuss alternative means of accessing cash while you are away.

Fraud Notification Alerts - When we suspect fraudulent ATM or Debit Card activity, we will attempt to contact you to verify the activity, but we are not liable in the event we are unable to do so. You agree we may contact you at any phone number (including mobile, wireless/cellular, or similar devices), email address or mailing address within our records. We may contact you by live operator, auto-dialer, recorded or artificial voice, text, or email.  When you receive an alert from us, you may (i) verify the activity in question; (ii) accept or refuse the involved transaction(s); or (iii) speak to one of our representatives about the activity in question. If you receive an alert from us and you are not sure if it’s legitimate, please contact us at 610.366.1800 or 888.366.6622. You may opt-out of text messages at any time by contacting us to remove your cellular phone number from the alert profile. You agree to pay any charges from your plan provider for communications we may send you, as well as communications you send to us.

Monitoring Activity – We monitor ATM and Debit Card transactions for suspicious activity and fraud. In our sole discretion if we believe that such activity is occurring we may suspend or revoke transaction activity privileges. In such an event we will attempt to contact you, but shall have no liability in the event we are unable to do so. In no event shall we be liable for any such suspensions or terminations of transaction privileges, or if we do not suspend or terminate such privileges.

Advisory Against Illegal Use – You agree not to use your account to conduct transactions relating to unlawful internet gambling or any other illegal activity. We may refuse any gambling transaction, whether lawful or not. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the Cardholder may be located.   

Foreign Multi-Currency Transactions – When you use your Debit Card or ATM Card at a merchant, financial institution or an ATM that settles in a foreign currency, the transaction will be converted into a U.S. dollar amount. We will charge your account in U.S. dollars based on the exchange rate on the day we settle the transaction, plus any special currency exchange charges that may be imposed by us, the Visa network and/or by any third-party used to complete the transaction. The exchange rate applied to each such transaction is either:

The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.

This 1.00% adjustment is made for all international transactions when there is a currency conversion associated with the transaction.

Foreign Single-Currency Transactions – When you use your Debit Card or ATM Card at a merchant, financial institution or an ATM outside of the United States and no foreign currency is involved, we will charge your account in U.S. dollars on the day we settle the transaction, plus any special charges that may be imposed by us, the Visa network and/or by any third-party used to complete the transaction.

The single-currency transaction fee will not be assessed for:

Account Updater ServiceAs an added convenience, this service enables a secure electronic exchange of your most recent Debit Card account information for recurring payment transactions with participating card-on-file merchants. Examples include utility companies and subscription services (i.e., Netflix). This feature will automatically provide a participating card-on-file merchant with information such as a change to your expiration date, account number or a new card issued, which eliminates your time in having to manually update this information with the participating merchant. Through this service you have a seamless account update process eliminating direct action on your part and also reduces negative experiences caused by declined transactions. You benefit by uninterrupted service from participating card-on-file merchants. To opt out of this service or if you opted-out previously and would later like to opt-in, please contact Customer Service at 610.366.1800 or toll-free at 888.366.6622

Additional Card Information

Online and Mobile Banking Transactions – With internet access and your sign-on
credentials, you may use our online banking service with: a personal computer  or eligible mobile device by logging in to our website, AMBK.com to:

Some of these services may not be available on all accounts or through all access methods. Please refer to “Limitation on Frequency of Transfers” in this section regarding limitations that apply to online transactions.

American Bank owns and operates the official websites such as: AMBK.com, AmericanBank.bank and m.ambk.com. We reserve the right to restrict and/or deny online and mobile banking access privileges at any time and/or to restrict online and mobile banking access within any country outside of the United States or any high‑risk or unknown IP address, regardless of location, or if we are suspicious of any online behavior.

Limitations on Frequency of Transfers – In addition to those limitations on transfers elsewhere described, if any, the following limitations apply: during any calendar month, you may make no more than six (6) preauthorized withdrawals, automatic or telephone transfers, PC transfers (including other personal computing devices), checks, drafts and Debit Card or other similar transactions from your money market or savings account to another account of yours or to a third party. These include, but are not limited to: any arrangement by our Bank to pay a third party from your account upon written or oral instructions, including an order received through an automated clearing house (ACH); or any arrangement by our Bank to pay a third party from your account at a predetermined time or on a fixed schedule, such as an insurance or utility payment; ACH debits; transfers from your money market or savings account pursuant to a preauthorized agreement to cover overdrafts on a checking account; or a transfer from a money market or savings account at your telephoned request made either directly to a bank employee or PC banking systems.  If the transfer or withdrawal is initiated in person, by mail or at an ATM then there is no limit. If you exceed the transfer limitations set forth above in any calendar month, your account will be subject to the Reg. D Excess Transaction Fee for each transaction in excess of the above limitations. Additionally, we may terminate overdraft transfers from your money market or savings account to cover overdrafts in your checking account; close your money market or savings account; or convert your money market or savings account to a checking account. Please refer to “Other Fees & Charges Disclosure” for additional information about applicable fees and charges.

Other Electronic Transfers – You may also transfer funds via ACH transfer from your accounts at U.S. depository institutions, other than American Bank, to your designated eligible account at American Bank, by entering payment instructions on American Bank’s website. Before you are eligible to do this, you will be required to confirm certain criteria and provide us with proof of your authorization to initiate a debit from the other account. Follow the instructions that we provide online. With approval and your authorization, we will move funds into your designated account from eligible U.S. deposit accounts. Please refer to “Other Fees & Charges Disclosure” elsewhere in this Agreement or on our website to determine if this transaction is subject to a fee. You acknowledge that the origination of ACH transactions to your account must comply with the provisions of U.S. law.

FEES

ATM Surcharges/Access Fee – When you use an ATM that is not owned and operated by us, you may be charged a surcharge/access fee by the ATM operator and/or by any network used to complete the transfer, and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer. In addition, you may be charged a surcharge/access fee for ATM or manual cash disbursement transactions initiated outside of the U.S. region by the ATM owner.

DOCUMENTATION

Terminal Transfers – You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less.

You should receive a receipt from a merchant when:

The merchant will generally provide a paper receipt to you, but may provide an electronic receipt at your request.

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 access your account online at AMBK.com or call us at 610.366.1800 or 888.366.6622 to confirm whether or not the deposit has been made.

Periodic Statements – You will get a monthly account statement from us for your checking, money market and savings account.

PREAUTHORIZED PAYMENTS

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 is how: call us at 610.366.1800 or 888.366.6622 or write us at 4029 W. Tilghman Street, Allentown PA 18104 in time for us to receive your request 3 business days or more before the payment is scheduled to be made. Please refer to “Additional Card Information” within this section for additional information and to “Other Fees & Charges Disclosure” for the amount we will charge you for each stop payment order you give.

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.)

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.

OUR 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:

There may be other exceptions stated in our agreement with you.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES

We will disclose information to third parties about your account or the transfers you make:

CONSUMER LIABILITY

Tell us AT ONCE if you believe your card and/or code 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 of 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 and/or code, 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 can 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 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 period.

If you believe your card and/or code has been lost or stolen call us at 610.366.1800 or 888.366.6622 or write us at American Bank, Customer Service Dept., 4029 W. Tilghman Street, Allentown PA 18104.

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.

Additional Limit on Liability for Visa Debit Cardholders – Unless you have been negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa card. This means that you could be liable for unauthorized activity if you failed to take ordinary care that a reasonably prudent person would have exercised in a similar situation. This additional limit on liability does not apply to ATM transactions outside of the U.S., to ATM transactions not sent over Visa or Plus networks, or to transactions using your Personal Identification Number which are not processed by Visa. Visa is a registered trademark of Visa International Service Association.  

Visa Business Cardholders: For unauthorized transactions completed with your Visa Business Card, we may require the notification of unauthorized transactions to be received by us within 60 calendar days of the mailing date of the first statement showing unauthorized transactions. 

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 us at 610.366.1800 or 888.366.6622 or write us at American Bank, Attn. Customer Service, 4029 W. Tilghman Street, Allentown PA 18104.

Non-Visa Debit Transaction Processing – We have enabled non-Visa debit transaction processing. This means you may use your Visa Debit Card on a PIN-Debit Network without using a PIN to authenticate your transactions.  (Visa Rules generally define “PIN Debit Network” – as a non-Visa debit network that typically authenticates transactions by use of a personal identification number, or “PIN”, but that is not generally known for having a card program.)  An example of a non-Visa debit network for which such transactions are enabled is Accel.

Examples of the types of actions that you may be required to use to initiate a Visa debit transaction with your Debit Card include: signing a sales receipt; providing a card number over the phone or via the Internet; or swiping the card through a point-of-sale terminal.

Examples of types of actions you may be required to make to initiate a non-Visa debit transaction on a PIN-Debit Network include; entering a PIN at the point-of-sale terminal; initiating a payment directly with the biller (possibly via telephone, Internet, or kiosk locations), by providing an account number or other information that is not your PIN to authorize the transaction after clearly indicating a preference to route it as a non-Visa transaction. 

The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa’s zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network.

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 disclosure, 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.

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 (5 business days for point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) after we hear from you. We will then correct any error promptly. If we need more time, however, we may take up to 45 calendar 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, (5 business days for point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) 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 questions in writing and we do not receive it within 10 business days, we may not credit your account. We may withhold provisional credit for point-of-sale transactions, to the extent allowed under applicable law, if the delay is warranted by the circumstances or your account history. 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 of our investigation within 3 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.

Write us at:

American Bank
Attention: Customer Service
4029 W. Tilghman Street
Allentown, PA 18104

Call us at:

610.366.1800 or 888.366.6622

Business Days:

Monday through Friday, excluding federal holidays

8:00 A.M. to 5:00 P.M. (ET)

Rev 06.19

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