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| Availability of Funds |
Your Ability to Withdraw Funds
Our 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 you have written.
For determining the availability of your deposits, every day is a business day, except Saturday, Sunday, and federal holidays. If you make a deposit before 2:00 p.m. at any BOI Banking Center, drive-up or ATM 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 2:00 p.m. at any BOI Banking Center, drive-up or ATM on a regular business day or on a day that we are closed, we will consider that deposit to be made on the next business day that we are open.
Longer Delays May Apply
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 fifth business day after the day of your deposit. The first $100.00 of your deposits, however may be available on the first business day.
If we do not make all of the funds from your deposit available on the first business day, we will notify you at the time that you make your deposit. We will also tell you when the funds will be available. 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.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
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We believe a check you deposit will not be paid. |
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You deposit checks totaling more than $5,000.00 on any one day. |
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You redeposit a check that has been returned unpaid. |
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You have overdrawn your account repeatedly in the last six months. |
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There is an emergency, such as failure of communications or computer equipment. |
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. They will generally be available no later than the fifth business day after the day of your deposit.
Special Rules for New Accounts
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers and the first $5,000.00 of a day's total deposits of cashier's, certified, teller's, travelers and federal, state and local government checks 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 (you may have to use a special deposit slip). The excess over $5,000.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000.00 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the first business day after the day of your deposit.
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| Electronic Fund Transfers - VISA Debit Card |
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.
ATM Transfers
Types of Transfers and Dollar Limitations
You may access your account(s) by ATM using your VISA Debit Card and personal identification number, to:
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Make deposits to checking account(s) |
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Get cash withdrawals from checking account(s) |
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Get information about the account balance of your checking account(s) |
Some of the services may not be available at all terminals.
VISA Debit Card Transactions
Subject to funds availability, you may access your checking account(s) to:
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Purchase goods (in person, by phone or online). |
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Pay for services (in person, by phone or online). |
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Get cash from a merchant, if the merchant permits, or, |
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Obtain cash from a participating financial institution, do anything that you can do with a credit card (that a participating merchant will accept with a credit card). |
Frequency Limitations
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You may make no more than 10 transactions each day using our terminal and our point-of-sale transfer services |
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For security reasons, there are limits on the number of transfers you can make using our terminals and point-of-sale transfer services. |
Dollar Limitations
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You may withdraw up to an aggregate of $200 from our terminals daily. |
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You may buy up to $500 worth of goods or services each day at our point-of-sale transfer service. |
Right to Documentation
Terminal Transfers
You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point-of-sale terminals.
Periodic Statements
You will get a monthly statement from us for your checking account. On saving accounts, statements will be sent on a quarterly basis. In cases where electronic transactions are utilized, you will receive a statement for the month that this transaction occurred.
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 loss or damages. However, there are some exceptions. We will NOT be liable, for instance:
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If, through no fault of ours, you do not have enough money in your account to make the transfer. |
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If the transfer would go over the credit limit on your overdraft line. |
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If the automated teller machine where you are making the transfer does not have enough cash. |
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If the terminal or system was not working properly and you knew about the breakdown when you started the transfer. |
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If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken. |
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:
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When it is necessary for completing the transfers; |
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In order to verify the existence and conditions of your account for a third party, such as a credit bureau or merchant; |
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In order to comply with government agency or court orders; or, |
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If you give us written permission. |
Unauthorized Transfers
Contact us IMMEDIATELY if you believe your card and/or code has been lost or stolen. 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 two business days, you can lose no more than $50 if someone used your card without your permission.
If you do not tell us within two 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, 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 we could have stopped someone from taking the money had you 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 or that someone has transferred or may transfer money from our account without your permission, contact us immediately.
Error Resolution
In case of errors or questions about your electronic transfers, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt, contact us as soon as possible. We must hear from you no later than 60 days after Bank of Indiana sent the first statement on which the problem or error appeared. When contacting us regarding an error, please have the following information ready:
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Your name and account number |
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The error or the transfer you are unsure about, and, as clearly as you can, why you believe it is an error or why you need more information. |
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The dollar amount of the suspected error. |
If you tell us verbally, we may require that you send us your complaint or question in writing within 10 business days.
We will notify you of 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 we will correct any error promptly. If we need more time, however, we may 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. If we decide to do this we will re-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 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 re-credit your account.
If we decided that there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
International Exchange
The rate of exchange between the Transaction Currency and the Billable Currency used for the processing of International Visa Transactions is (i) wholesale market rate or (ii) government-mandated rate, in effect one day prior to the processing date, increased by one percent.
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| Electronic Fund Transfers - ATM Card |
The Electronic Funds Transfers we are capable of handling are indicated below, some of which may not apply to your account. Please read this disclosure because it tells your rights and obligations.
Types And Limitations Of Transfers
Terminal transfers, you may use our terminals to make:
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Cash withdrawals from checking account(s). |
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Cash withdrawals from savings account(s). |
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Deposits to checking account(s). |
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Deposits to savings account(s). |
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Transfers of funds between checking/savings account(s). |
Some of the services may not be available at all terminals
Prearranged transfers, you have arranged for us to:
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Accept certain direct deposits to your checking account. |
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Accept certain direct deposits to your savings account. |
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Pay certain recurring bills from your checking account. |
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Pay certain recurring bills from your savings account. |
Limitations on frequency of electronic fund transfers:
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You may make only 10 transactions each day using terminals. |
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Transfers from a money market deposit account or a savings account or to third parties by pre-authorized, systematic, or telephone transfer are limited to six per month or statement cycle with no more than three by check, debit card or similar order to third parties. |
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For security reasons, there are other limits on the number of transfers you may make through our terminals. |
Dollar limit (if any) on each terminal transfer.
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The limit for terminal online $200.00. |
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The limit for terminal offline $200.00. |
Charges for Electronic Fund Transfers
A fee of $1.00 will be charged for using an ATM other than a Bank of Indiana ATM.
Right to Documentation
Terminal Transfers
You can get a receipt at the time you make any transfer to or from your account using one of our terminals.
Direct Deposits
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 (877) 320-5107 to find our whether or not the deposit has been made.
In addition:
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You will get a monthly account statement from us on your checking accounts. |
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You will get a quarterly statement from us on your savings accounts. |
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You will get a monthly statement from us on your savings accounts if electronic transactions are made. |
Stop Payment Procedures and Notice of Varying Amounts
Right to Stop Payment and Procedure for Doing So
On any regular payments made out of your accounts, you may stop payment. Here is how to proceed:
Call us at 877-320-5107 or visit any BOI Banking Center. We must receive your request 3 banking business days or more before the payment is due to be made. If you call, we will require you to put your request in writing and get it to us within 14 days after your call.
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 Pre-authorized 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.
Financial Institution’s Obligations
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:
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If, through no fault of ours, you do not have enough money in your account to make the transfer. |
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If the transfer would go over the credit limit on your overdraft line. |
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If the automated teller machine where you are making the transfer does not have enough cash. |
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If the terminal or system was not working properly and you knew about the breakdown when you started the transfer. |
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If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken. |
There may be other exceptions stated in our agreement with you.
Disclosure to Third Parties
We will disclose information to third parties about your account or the transfer you make:
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where it is necessary for completing transfers; |
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in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; |
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in order to comply with government agency or court orders; or |
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if you give us your written permission. |
Unauthorized Transfers
Contact us IMMEDIATELY if you believe your card 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). If you tell us within 2 business days, you can lose not more than $50 if someone used your card 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 we can prove we could have stopped someone from using your card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, 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 day 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.
If you believe your card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, contact us immediately.
Error Resolution
In case of errors or questions about your electronic transfers, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt, contact us as soon as you can. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. When contacting us regarding an error, please have the following information ready:
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Your name and account number |
| • |
The error or the transfer you are unsure about, and, as clearly as you can, why you believe it is an error or why you need more information. |
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The dollar amount of the suspected error. |
If you tell us verbally, 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 for point of sale or foreign-initiated transfers) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days for point of sale or foreign-initiated transfers) to investigate your complain or question. If we decide to do this, we will re-credit your account within 10 business days (20 business days for point of sale or foreign-initiated transfers) 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 re-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.
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| Excessive and Luxury Expenditure Policy |
| Excessive and Luxury Expenditure Policy (.PDF) |
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Bank of Indiana Member FDIC |
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Equal Housing Lender |
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