Making banking simple for you
means giving you easy access to the bank and your money
whenever you need it. And through the services described
below, that’s exactly what you get.
Overdraft Privilege
It is The Stock
Exchange Bank’s policy to comply with applicable laws, rules
and regulations, and to conduct business in accordance with
strict safety and soundness standards. A non-sufficient
funds (overdraft/negative balance) may result from: A) The
payment of checks, electronic funds transfers, or other
withdrawal requests you initiate; B) Payments authorized by
you; C) The return, unpaid, of items deposited by you; D)
Charging your account for our applicable service charges and
fees; E) The deposit of items to your account which,
according to our Funds Availability Policy, are treated as
not yet “available”. We are not obligated to pay any item
initiated for payment
Rather than
automatically returning, unpaid, any non-sufficient funds
items that you may have, if your “eligible account type” has
been open for at least thirty (30) days and thereafter you
maintain your account in good standing, which includes at
least: (A) Continuing to make deposits consistent with your
past practices, (B) You are not in default on any loan
obligation to us, (C) You bring your account to a positive
balance (not overdrawn) immediately or as soon as possible
and at least once every thirty (30) days. You have no legal
right to defer payment of your outstanding overdrafts
including our fees, and (D) Your account is not the subject
of any legal or administrative order or levy, such as
bankruptcy or a tax lien, we will consider, without
obligation on our part, approving your reasonable overdrafts
up to your assigned ODP Limit. This discretionary
service will generally be limited to a $400.00 overdraft
(negative) balance for Free Checking Accounts or a $700.00
overdraft (negative) balance for all other eligible account
types (listed below). You do not have to apply for this
service and you do not need to sign any additional documents
for this service. It is already a part of your Checking
Account Deposit Agreement with us. Our normal fees and
charges including, without limitation, our non-sufficient
funds/overdraft fees (currently $20.00 for each
transaction presented for payment against non-sufficient
funds) will be included in these limits. We will charge our
normal fee whether we approve the item for payment or not.
Your account will also be charged a daily overdraft fee of
$1.50 for each calendar day your account is overdrawn in
excess of $100.00
We may refuse
to pay an overdraft for you at any time, even though your
account is in good standing and even though we may have
previously paid overdrafts for you. You will be
notified by mail of any non-sufficient funds items paid or
returned that you may have; however, we have no obligation
to notify you before we pay or return any item. The amount
of any overdrafts including our fees that you owe us shall
be due and payable immediately. If there is an overdraft
paid by us on an account with more than one (1) owner on the
signature card, each owner, and agent if applicable,
drawing/presenting the item creating the overdraft, shall be
jointly or severally liable for such overdrafts including
our fees.
-
Optional Overdraft
Protection Services:
We offer additional
overdraft protection services that you may apply for.
These include Overdraft Protection (Transfer from
another Stock Exchange Bank account owned by you), Home
Equity Line of Credit (HELOC) or a consumer loan. If
you apply and are qualified for these optional services,
you may save money on the total fees you pay us for
overdraft privilege services.
-
Ineligible Accounts and
Limitations:
Savings Accounts, Money Market Accounts, Public
Fund/Charitable Organization Accounts, Business
Accounts, Trust Accounts, Minor Accounts are not
eligible for this service. We may, in our sole option
and discretion, limit the number of your accounts
eligible for the ODP Service to one account per
household and/or one account per taxpayer identification
number.
-
Eligible Account Types:
The account
types that are eligible for the ODP Service are:
Personal/Regular Checking, Free Checking, Value Plus
Checking, and NOW Checking.
-
Transactions That May
Cause or Create Overdrafts Using Your ODP Limit:
NSF transactions initiated for payment against your
checking account(s) may be approved/paid by us using,
and up to, your assigned ODP Limit, including our fees.
The eligible transaction types will include, without
limitation: Checks, ACH, ATM, POS, In Person
Transactions and Telephone Transfers.
-
Transactions For Which An
Overdraft Fee May Be Imposed Includes:
Checks, ACH, ATM, POS, In
Person Transactions and Telephone Transfers.
-
You May Always Opt-Out:
You may choose at any time to not participate in the ODP
Service by notifying one of our Customer Service
Representatives who will explain what this (“Opt Out”)
means, and the potential consequences, for you.
-
If You Need Help:
Of course, overdrafts should not be used to pay ordinary
or routine expenses and you should not rely on
overdrafts as a means to cover these expenses. If at
any time you feel you need help with your financial
obligations please contact one of our Customer
Service Representative at (580)256-3314.
ALWAYS
A DISCRETIONARY SERVICE: Our OverDraftPrivilege Service
does not constitute an actual or implied agreement between
you and us. Nor does it constitute an actual or implied
obligation of or by us. This service represents a purely
discretionary courtesy or privilege that we may provide
to you from time to time and which may be withdrawn or
withheld by us at any time without prior notice or reason or
cause.
How
We Post Items To Your Account:
1st
We post our internal adjustments and charges/debits to your
account first. We post these in the order in which they are
presented.
2nd We post
teller cash items paid to you (you cash a check or withdraw
funds at one of our tellers). We post these in the order in
which they are presented.
3rd We post
electronic cash items paid to you or electronic transfer or
bill payment items or recurring auto debits to your account
to make loan or other payments you have initiated (you get
cash at an ATM, or transfer money from one account to
another at an ATM or by telephone or by Internet Banking)
and electronic purchases you have initiated (you use your
ATM card or check card to purchase items). We post these in
the order in which they are presented.
4th Then, we post checks you have written
in the following order. Generally, we will post your
(check) transactions in the order of your lowest dollar
transactions to your highest dollar transactions (commonly
referred to as “Low to High Dollar”).SEB OnLine
Banking has never been this easy. With SEB OnLine, you can
connect with your Stock Exchange Bank accounts from wherever
you have Internet access. With a few simple strokes, you can
check your account balances, transfer funds, and more. Ask a
bank representative for details.
Corporate Cash Management
Now our Commercial businesses can manage their accounts 24
hours a day, 7 days a week from any computer connected to the
Internet. You can view daily activity, historical statement
detail, transfer funds, initiate domestic wire transfers and
stop payments. Additional features include comprehensive ACH
capabilities that allow for creation of company payroll,
submission of Electronic Federal Tax Payments (EFTPs) and much
more. Contact customer service for more information.
T.A.B.
Even when the bank is closed, access to your account
information is as simple as dialing the telephone. Our 24/7
Telephone Access Banking allows you to check account and loan
balances, get check and interest information and transfer
funds, all at your convenience.
VISA Check Card
The Stock Exchange Bank Visa Check Card is an ATM card that
also works like a check! Now you can have all the advantages
of an ATM card plus the convenience of making purchases
without cash and without writing a check. The Stock Exchange
Bank Visa Check Card provides a new way to access your
checking account. Use it to purchase goods and services
anywhere Visa is accepted – at more than 10 million
locations worldwide. It works for everyday purchases that you
might usually pay for with a check or cash, like groceries and
gas, and for everyday services such as dry cleaning, shoe
repairs, haircuts and car washes.
The Stock Exchange Bank Visa Check Card is also your ATM card.
Use it 24-hours a day, seven days a week to make cash
withdrawals, deposits, transfers between accounts, and even
check your balance at thousands of locations worldwide.
Automatic Funds Transfer
It is very easy to set up automatic transfers of funds between
your accounts within the bank. Your mortgage or car payment
can be electronically made from your checking or savings
account, or make saving easier by having a set amount
transferred from your checking account every month.
Wire Transfers
Money can be wired from your account to an account at another
institution quickly and easily. We can also receive wire
transfers on your behalf. A moderate fee is charged for this
service.
Safe Deposit Boxes
Safe deposit boxes are available to protect your irreplaceable
documents and other valuables. We have boxes available at both
locations to better serve your needs. Additional fees are
charged to replace lost keys and to drill a lock when
necessary.
Night Depository
Night depository boxes are available at both locations so that
you can safely deposit funds or make payments even after
office hours.
Traveler’s Cheques
The Stock Exchange Bank offers American Express Traveler’s
Cheques for customers at a very low cost. When planning your
vacation or business trips, plan on using traveler’s checks
instead of cash. They can be replaced if lost or stolen unlike
large amounts of cash and are accepted at most locations.
Bank by Mail
Deposits and loan payments will always be accepted via the
U.S. Mail. They will be considered made on the day received by
the Bank. Remember, never send cash through the mail!
Notary Service
We have several notaries on staff at both of our offices.
Contact us when you need an important document notarized.
Cashier’s Checks
For those customers who do not have a checking account or are
engaged in a transaction where a personal check will not be
accepted, we have Cashier’s Checks available for a small
fee. You are provided a written receipt with every cashier’s
check purchased.
U.S. Savings Bonds
Customers can purchase U.S. Savings Bonds for gifts or safe
investments. We also redeem those bonds when the need arises.
back
to top
