Online Banking

Electronic Funds Transfer

Electronic Funds Transfer Agreement and Disclosures

This form complies with federal and state law.  It applies to our electronic funds transfer (EFT) services on a consumer's account.  Electronic funds transfers are electronic transfers of money to or from your deposit account with us.  This form states your and our rights and responsibilities for electronic fund transfers.  In this form, the words "you" and "your" mean each and all who sign as applicants and any users of the service.  The words "we", "us" and "our" mean Anchor Bank, a division of Old National Bank.

Preauthorized EFT

Brief Description: Electronic Funds Transfer

Types of Preauthorized Transfers: You may arrange for us to complete the following preauthorized transfers to or from your deposit accounts:

Fees and Charges:

Automated Teller (ATM) Services

Brief Description: ATM Card

Types of Transfers: You may use the automated teller machine (ATM) card and personal identification number (PIN) issued to you to initiate transactions at ATMs of ours, ATMs within the networks identified on your card and such other facilities as we may designate from time to time.  To report a lost or stolen card, please call our 24 hour hot line at (952) 808-8083.  At present you may use your card to:

Limitations on Frequency and Amount:

Fees and Charges for ATM Transactions:

Debit Card Services

Brief Description and Types of Transactions Allowed: A Debit Card allows you to access your checking account through an ATM machine to obtain cash and to access your checking account to purchase goods (in person, by phone or via mail), pay for services (in person, by phone or via mail), get cash from a merchant if the merchant permits, or from a participating financial institution and do anything that can be done with a credit card (that a participating merchant will accept with a credit card.) Such cards will be used to obtain cash, goods or services only if at the time of use there are on deposit in the designated account, funds sufficient to cover such use.  A Mastercard card may not be used for any illegal transactions. To report a lost or stolen card, please call our 24 hour hot line at (952) 808-8083.

Electronic Check Conversion:  You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.

Limitations on Frequency and Amount:

Fees and Charges:

If you effect a transaction with your Mastercard® Debit Card in a currency other than US Dollars, Mastercard will convert the charge into a US Dollar amount. The Mastercard currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by Mastercard. The exchange rate Mastercard uses will be a rate in effect on the day the transaction is processed. This rate may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account.  Mastercard charges us a Currency Conversion Assessment of 20 basis points (.2% of the transaction) for performing the currency conversion. In addition, Mastercard charges us an Issuer Cross-Border Assessment of 80 basis points (.8% of the transaction) on all cross-border transactions regardless of whether there is a currency conversion. As a result, we charge you a Currency Conversion fee of .2% and a Cross-Border Transaction fee of .8%. The Cross-Border Transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the Mastercard Debit Switch in which the country of the merchant is different than the country of the cardholder.

Audio Response Services - AnchorLine 24 Hour Telephone Banking

Brief Description:   Telephone Banking

Types of Audio Response: You may access your deposit accounts by using a separate personal identification number (PlN) assigned to you and your account number in our audio response system.  At the present time you may use the system to:

Limitations on Frequency and Amount:

Fees and Charges for Audio Response Transactions:

Internet Banking Services - AnchorLink®

Brief Description:   Access via the Internet ( to your accounts with Anchor Bank, N.A. 

Type of Transactions: You may access your deposit or loan accounts by using your personal computer with Internet access.  An AnchorLink ID (ID) and Password will be assigned to you for your use with the system.  At the present time you may use the system to:

Limitations on Frequency and Amount:

Fees and Charges for AnchorLink transactions:

In addition to the limitations set forth above, the following limitations may be applicable to your accounts:

Liability for Unauthorized Transfers: Tell us AT ONCE if you believe your ATM Card or PIN, Debit Card or PIN, AnchorLine PIN or AnchorLink ID or Password has been 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 the money in your account, plus your maximum overdraft line of credit. 

If your statement shows transfers that you did not make or authorize, including those made by card, code or other means, tell us at once.  If you tell us within sixty (60) days after the statement was mailed to you, you can lose no more than $50.00.  If you do not tell us within sixty (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 periods. 

If you believe that your card or code has been lost or stolen, call: (952) 808-8083, or write us at 14665 Galaxie Ave., Suite 330, Apple Valley, MN 55124.

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.

Business Days:  For purposes of these electronic funds transfer disclosures, our business days are Monday through Saturday.  Holidays are not included. 


Direct Deposits:  If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (651) 747-2900 to find out whether or not the deposit has been made.

Our 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:

In Case of Errors or Questions About Your Electronic Transfers:   Telephone us at (651) 747-2900, or write us at 1570 Concordia Avenue, Saint Paul, MN  55104 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 sixty (60) days after we sent you 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 ten (10) business days.

We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly.  If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question.  If we decide to do this, we will recredit your account within ten (10) business days 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. lf we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not recredit your account.

If a notice of error involves an electronic funds transfer that was begun in a foreign country, or is a point-of-sale (POS) transaction, we may take up to 90 days to investigate your complaint or question.  If the notice of error is on a new account, the time period for action will be twenty (20) business days instead of ten (10) business days, and the investigation period may take up to ninety (90) days instead of forty-five (45) days.

We will tell you the results within three (3) business days after completing our investigation.  If we decide that there was no error, we will send you a written explanation.

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

Personal Identification Number (PIN).  The ATM PIN, Debit PIN, Audio Response PIN or Internet Banking PIN and Password is for security reasons.  The numbers are confidential and should not be given to anyone else or listed on the card.  You must keep your numbers safe.  You agree not to give your ATM PIN, Debit PIN, Audio Response PIN or Internet Banking PIN or Password to anyone who cannot sign on your accounts.

Notices:  All notices from us will be effective when we have mailed them or delivered them to your last known address on our records.  Notices from you will be effective when we receive the notice at our address shown in this Agreement.  We may change the terms and conditions for any EFT service.  We will mail a notice to you at least twenty-one (21) days before the effective date of any change, as required by law.  Use of EFT service is governed by regulations and any future changes to those regulations.

Enforcement:  If you or we bring a legal action to enforce this Agreement or to collect amounts owing as a result of any Account transaction, the party who wins will receive reasonable attorneys' fees and costs, including fees on any appeal, to the extent allowed by law.

Cancellation of ATM, Debit, Audio Response and Internet Banking Services:  You agree that we may cancel this Agreement and your use of these services if:

Service is canceled the first business day after we receive your written notice.  Canceling this Agreement will not affect your or our rights and responsibilities under this Agreement for transactions begun before the agreement is canceled.

Preauthorized Electronic Fund Transfers:

Delay:  There may be a delay between the time you make a deposit and when you can withdraw the money.  You should review our Funds Availability Policy to find out when you can withdraw money that you deposit at ATMS.

Completing Transactions:  We refuse to complete a transaction:

Other Minnesota Disclosures:  ATM transactions are completed immediately with us.  You cannot reverse a transfer of money through an ATM.  Payment for goods or services by transfer of money through an ATM does not affect any of your rights, protections or liabilities under existing law concerning a cash or credit sale made by means other than through use of an ATM.  We are liable for all unauthorized withdrawals at an ATM unless the unauthorized withdrawal was due to the loss or theft of the ATM card, in which case you are liable, up to a maximum liability of $50.00, for those unauthorized withdrawals made before we are notified of the loss or theft.  An unauthorized withdrawal is a withdrawal by a person other than you who does not have actual, implied or apparent authority for such withdrawal, and from which withdrawal you receive no benefit.

You may bring a civil action against any person violating the consumer privacy and unauthorized withdrawal provisions of Minnesota law.  In addition to actual damages or $500 (whichever is greater), you may recover punitive damages, plus court costs and reasonable attorneys' fees incurred.

To protect the privacy of customers using electronic financial terminals, including any supporting equipment, structures or systems, information received by or processed through such terminals, supporting equipment, structures or systems shall be treated and used only in accordance with applicable law relating to the dissemination and disclosure of such information.  The person establishing and maintaining an electronic financial terminal, including any supporting equipment, structures or systems, shall take steps as are reasonably necessary to restrict disclosure of information to that which is necessary to complete the transaction and to safeguard any information received or obtained about a customer or his or her account from misuse by any person manning an electronic financial terminal, including any supporting equipment, structures, or systems.

ATM Safety Tips

As issuers of Automated Teller Machine (ATM) access devices, we have provided for your information a list of safety precautions regarding the use of automated teller machines.  Please read the following safety tips: