Savings Account 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.

We offer new Statement Savings 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.

Statement Savings Account

If your balance goes below $200 at anytime, there is a charge of $3 for that monthly statement cycle.  Interest is still earned, no matter what the balance.  There is a $20 fee if you close the account within 90 days of opening date.

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

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. Interest will be compounded and credited every monthly statement cycle. If you close your account before interest is credited, you will not receive the accrued interest.

Interest begins to accrue on the first business day after the banking day you deposit non cash items (for example, checks).

Transaction Limitations

Transfers to another account or to third parties by preauthorized, automatic, telephone or personal computer transfer are limited to six per statement cycle.

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.

Preauthorized credits

You may make arrangements for certain direct deposits to be accepted into your savings account(s).

Preauthorized payments

You may make arrangements to pay certain recurring bills from your savings account(s).

Telephone Transfers- types of transfers, dollar limitations and charges. You may access your account by telephone using your account numbers, to:

Internet Banking/T.H.I.S. One Transfers - types of transfers

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 personal computer using the software program supplied by us to:

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to telephone and personal computer transfers.
ATM Transfers - types of transfers, dollar limitations and charges
You may access your account (s) by ATM using your ATM card and personal identification number to:

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.

Funds Availability

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.

Exceptions

Funds you deposit by check may be delayed for a longer period under the following circumstances:

New Account

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.

(1) Tell us your name and account number (if any)

(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 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. When 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
Bookkeeping Department
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.

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