Checking and Money Market Account Disclosures
Terms and Conditions
Product offers, rates, terms and other information provided herein
are subject to change without notice. Due to occasional inaccessibility
to our web site, First Community Bank cannot guarantee the completeness
or accuracy of the information provided herein. The appropriate and full
disclosures will be mailed to you when you open an account with First Community
Bank. You may request these documents before opening your account(s), or
verify current offers by calling 614-239-4600.
have been some changes in the temporary FDIC Insurance coverage for
transaction accounts. Click here to learn more about your increased
We offer new checking and money market accounts for Central Ohio residents only.
If you are listed on ChexSystems, it is our policy that we are unable to open an
account for you.
For the Net Checking + Account, there are no monthly service charges
no monthly minimum balance requirements. Accounts require monthly direct deposit
or monthly recurring automatic withdrawal and provides electronic statements only. Interest is earned, no matter
what the balance. Your statement cycle will be the second Wednesday of each
month. If account requirements are not met, account will automatically be
changed to a Free Checking account.
For the Checking With Interest Account, if your balance goes below $1,000
at anytime, there is a charge of $10 for that monthly statement cycle.
In either case, interest is still earned, no matter what the balance.
For the Regular Checking account, if your balance goes below $350 at anytime, there is a charge of $5 for that
monthly statement cycle. No interest is earned on this account. The $5 fee is
also waived if there is direct deposit into that account. The customer must
inform the bank that direct deposit is taking place.
For the Business Checking account, if your balance goes below $1,000 at anytime, there is a charge of $15 for that
monthly statement cycle. No interest is earned on this account.
For the HIFI Money Market Account, if your balance falls below $1,000 at
anytime, there is a charge of $5 for that monthly statement cycle. In either case, interest is still earned, no matter what the balance.
Interest Rate Information
Your interest rate and annual percentage yield may change. We may change the interest rate on your account at any time at our discretion.
Interest is earned on all balances.
Balance Computation Method
For the Net Checking + Account, we use the average daily balance method to
calculate the interest on your account. This method applies a daily periodic
rate to the average principal balance for that entire statement cycle in the
account each day. Interest for that statement cycle will be recalculated
everyday depending upon your average balance and be credited to your account at
the end of the statement cycle. If there is no direct deposit or recurring
automatic withdrawal within 60
days of account opening, interest at the lowest Net Checking + tier is earned. If you close your account before interest is
credited, you will not receive the accrued interest.
For the Checking with
Interest Account, we use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal
in the account each day. Checking With Interest accounts' interest will be compounded and credited every monthly statement cycle, Money Market
accounts' interest will be compounded and credited every day. If you close your account before interest is credited, you will not receive the accrued
Interest begins to accrue on the first business day after the banking day you deposit non cash items (for example, checks).
Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone or Internet Banking transfer are limited to six per statement cycle with no more than
three by check, draft, ATM transfer (to third parties only), or similar order to third parties.
Electronic Fund Transfers - Your Rights and Responsibilities
This electronic Fund Transfer disclosure does not apply to any accounts other than consumer accounts as defined by Regulation E.
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. You should keep this notice
for future reference.
You may make arrangements for certain direct deposits to be accepted into your checking, savings
or money market account(s).
You may make arrangements to pay certain recurring bills from your checking, savings or money market
Telephone Transfers - types of transfers, dollar limitations
You may access your account by telephone using your account
||transfer funds between your checking, savings or money market accounts
||transfer funds from a line of credit to checking, savings or money market accounts; you may transfer no less than $250.00 per transfer
||make payments from checking, savings or money market accounts to loan accounts with us
||get information about the account balance of any deposit account - there is a charge of $2 per inquiry and you must provide date
and amount of last deposit for verification purposes
TellerPhone and Internet Banking Transfers - types of transfers
After signing up, you may access your account by telephone at 1-888-THIS-111 or 1-888-8447-111 using your personal identification number, a touch tone phone and your
account numbers or by computer or mobile telephone with internet access to access our Internet Banking system:
||transfer funds between your checking, savings or money
||make payments from checking, savings or money market
to loan accounts with us
||make payments from checking, savings or money market
accounts to third parties
Please also see Limitations on Frequency of Transfers
section regarding limitations that apply to telephone and Internet transfers.
ATM Transfers - types of transfers, dollar limitations
and charges - You may access your account (s) by ATM using your ATM
card or ATM/VISA Check Card and personal identification number to:
||make deposits to, get cash withdrawals from, or transfer funds
between your checking and/or savings account(s)
||You may withdraw no more than $400 per calendar day.
||We may charge transaction fees at terminals we own and operate and terminals
we do not own or operate (please refer to our separate account/fee brochure).
||get information about the account balance of your checking, savings or money market account(s)
Some of these services may not be available at all terminals.
Please also see Limitations on Frequency of Transfers section regarding limitations that apply to ATM transfers.
Our normal policy is to make funds from your cash and check deposits
available to you on the first business day after the day we receive your
deposit. Electronic direct deposits will be available on the day we receive the
deposit. Once the funds are available, you can withdraw them in cash and we will
use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you
have withdrawn the funds, you are still responsible for checks you deposit that
are returned to us unpaid and for any other problems involving your deposit.
For determining the availability of your deposits, every day is a business day,
except Saturdays, Sundays and federal holidays. If you make a deposit before
3:00 p.m. on a business day that we are open, we will consider that day to be
the day of your deposit. However, if you make a deposit after 3:00 p.m. or on a
day we are not open, we will consider that the deposit was made on the next
business day we are open.
If we cash a check for you that is drawn on another bank, we may withhold the
availability of a corresponding amount of funds that are already in your
account. Those funds will be available at the time funds from the check we
cashed would have been available if you had deposited it.
If we accept for deposit a check that is drawn on another bank, we may make
funds from the deposit available for withdrawal immediately but delay your
availability to withdraw a corresponding amount of funds that you have on
deposit in another account with us. The funds in the other account would then
not be available for withdrawal until the time periods that are described
elsewhere in this disclosure for the type of check that you deposited.
Longer Delays May Apply
Case-by-case delays. In some cases, we will not make all of the funds that
you deposit by check available to you on the first business day after the day of
your deposit. Depending on the type of check that you deposit, funds may not be
available until the second business day after the day of your deposit. The first
$200 of your deposits, however, may be available on the first business day.
If we are not going to make all of the funds from your account available on the
first business day, we will notify you at the time you make your deposit. We
will also tell you when the funds will be available. They will generally be
available no later than the seventh business day after the day of your deposit. If
your deposit is not made directly to one of our employees or if we decide to
take this action after you have left the premises, we will mail you the notice
by the day after we receive your deposit.
If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Funds you deposit by check may be delayed for a longer period under the following circumstances:
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5000 on any one day.
||You redeposit check that has been returned unpaid.
||You have overdrawn your account repeatedly in the last six months.
||There is an emergency, such as failure of computer or communications equipment.
If you are a new customer, the following rules will apply during
the first 30 days your account is open. A customer is considered new
that has not had an account with us for more than 30 days. Funds
from electronic direct deposits, cash and wired deposits to your
account will be available on the day we receive them. Funds from all
other types of deposits will be available on the first business day
after the day of your deposit if the deposit meets certain
conditions (for example, the checks must be payable to you), but no
later than the ninth business day after the day of your deposit. The
$100 next day availability does not apply. We will notify you if we
delay your ability to withdraw funds for any of these reasons, and
we will tell you when the funds will be available.
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 of receipt. We must hear from you no later than 60 days after we sent the 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 tell you the results of our investigation within
10 business days (20 business days if the transfer involved a point-of-sale
transaction or a foreign initiated transfer) after we hear from you and
will correct any error promptly. If we need more time, however, we make
take up to 45 days (90 days if the transfer involved a point-of-sale transaction
or a foreign initiated transfer) to investigate your complaint or question.
We we decide to do this, we will credit your account within 10 business
days (20 business days if the transfer involved a point-of-sale transaction
or a foreign initiated transfer) 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 the 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.
If we decide that there was no error, we will send you
a written explanation within 3 business days after we finish our investigation.
You may ask for copies of the documents that we used in our investigation.
First Community Bank
4300 E. Broad Street
Columbus, OH 43213
Business days: Monday through Friday, excluding Federal Holidays
Phone : (614) 239-4684
**All Annual Percentage Yields assume reinvestment of interest and principal.