Disclosure Statement for Electronic Fund Transfer Service

I hereby acknowledge that my Farmers & Merchants Bank ATM or Visa Check Card is subject to the following terms and conditions:


I have a checking and/or savings account with Farmers & Merchants Bank and acknowledge that Farmers & Merchants Bank will issue me a card to be used to (1) Withdraw cash from (2) Make deposits to (3) Effect transfer between my accounts (4) Purchase goods or services at places that agree to accept my ATM or Visa Check Card or (5) Perform other services now offered or which may later be added.

ATM and Personal Identification Number (PIN)

I understand that the ATM is an automated teller, it can and will perform many of the same tasks as a human teller. I acknowledge that my PIN when used with my card is my signature and authenticates and validates the directions given just as my actual signature. Therefore, I agree to take all reasonable precautions that no one else learns my PIN. I understand that reasonable precautions include, but are not limited to the following:

Not telling or disclosing  my PIN to any other person
Not writing my PIN on the card issued to me
Not keeping a written record of my PIN near my card

Liability for unauthorized transactions

 I understand that if I believe that my ATM or Visa Check Card or PIN has been lost or stolen or money is missing from my account and I contact Farmers & Merchants Bank within two business days, I shall lose no more than $50.00. However, if I do not tell Farmers & Merchants Bank within two business days after I learn of the loss, theft, or misuse, and it can be proven that Farmers & Merchants Bank could have stopped the loss, theft, or misuse from occurring, I could lose as much as $500.00. I further agree that if I give my ATM or Visa Check Card and PIN to someone else to use I am responsible for any use of the card by that person.

Receipts and Statements

A receipt will be provided by the EFT Terminal at the time any transaction is made. This receipt will provide a record of the account accesses, date, amount, type of transaction, and the location of the machine used. A monthly statement will be provided for those accounts affected.


Deposits or payments made at a Farmers & Merchants Bank ATM will be credited during the regular posting of that day’s business. Items deposited are subject to verification. The business days for the bank are every day except Saturdays, Sundays and federal holidays. Deposits received before 5:00PM are considered that day to be the day of your deposit. Deposits after 5:00PM will be posted on the next business day.

Transfers and Withdraws

I understand that if Farmers & Merchants Bank does not complete a transfer or withdrawal to or from my account on time or in the correct amount, the bank will not be liable if:

  • The account does not have enough money to make the transfer
  • The EPT Machine malfunctions or has insufficient cash
  • An improper selection is made
  • Circumstances beyond the control of the bank such as fire or flood
  • There may be other exceptions

Information to Third Parties

I understand that Farmers & Merchants Bank will disclose information to third parties about my account:

  • When it is necessary for completing the transfer
  • In order to verify the existence and conditions of my account for a third party
  • In order to comply with a government agency or court order
  • If I give written permission


I agree that the ATM or Visa Check Card is and shall remain the property of Farmers & Merchants Bank and shall be surrendered upon request.

Disclosure of Amendment

I hereby understand that Farmers & Merchants Bank may amend this agreement by giving notice of such amendment in writing.

Stop Payments

If you have told us in advance to make regular payments from your account you may stop any of these payments. Here’s how: Call us at the telephone number and/or address in time for us to receive your request three business days or more before payment is scheduled to be made. If you call we may also require you to put your request in writing and get it to us within 14 business days after you call. We shall charge you $35.00 for each stop payment order you give. If you order us to stop payment three business days or more before the transfer is scheduled and we do not do so, we shall be liable for your losses and damages.

Error Resolution Procedures for Electronic Funds Transfer Only:

In case of errors or questions about your electronic funds transfer, you should write to us at the address indicated below as soon as possible. We must hear from you no later than 60 days after we sent the first statement on which the error appeared. If notification is received orally, we may require that you notify us in writing within 10 business days. When you communicate with us:

Tell us your name, phone number, account number, and the amount of the suspected error.
Describe the suspected error or transfer being questioned.
Explain as clearly as you can why you believe it is an error or why you need more information.

We will notify you with the results of our investigation within 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 45 days to investigate your complaint or question. If we decide to do this, your account will be provisionally re-credited within 10 business days for the amount you think is in error. If we request notification in writing and do not receive it within 10 business days, your account may not be re-credited. If we determine there was no error, you will be notified within 3 business days after the investigation is completed.

EFT User Fees, Charges and Limitations

Some of the services may not be available to you at all EFT Terminals. If you have more than one account with us some of these services may not be available for each account. On each processing day:

You may withdraw from Automated Teller Machines using your ATM or Visa Check Card up to $505.00 (or your available balance, if it is less than such amount) and
You may buy goods or services using your Visa Check Card up to $1,000.00 (or your available balance, if it is less than such amount).

Every calendar day is a processing day, except Saturday, Sunday, and Monday are treated as a single processing day. In the event an electronic funds transaction results in overdrawing your account, a charge of $35.00 will be made. The charge to replace a damaged, lost, or stolen ATM/Visa Check Card will be $5.00. There will also be a $5.00 charge to replace an ATM/Visa Check Card because of a forgotten PIN.

There is no charge for using your ATM/Visa Check Card at a Farmers & Merchants Bank ATM.

Electronic Funds Transfer Statement Inquires

Farmers & Merchants Bank
PO Box 1111
Timberville, VA 22853
(540) 896-8941