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Non-Consumer Deposit Account Disclosures

SUBSTITUTE CHECK POLICY DISCLOSURE
What is a substitute check?
To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment just like the original check.
 
Some or all of the checks that you receive back from us may be substitute checks. This notice describes your rights when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.
 
What are my rights regarding substitute checks?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss
or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.
 
If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.
 
How do I make a claim for a refund?
If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at Foresight Bank, 138 West Broadway, Plainview, MN 55964 or call us at 507-534-3131. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We may extend this time period if you were not able to make a timely claim because of extraordinary circumstances.
Your claim must include the following items:
1. A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
2. An estimate of the amount of your loss; and
3. A copy of the substitute check or the check number, the name of the person to whom you wrote the check, and the amount of the check.
 
FUNDS AVAILABILITY DISCLOSURE
This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts that permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Checking accounts are the most common
transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy.
 
Our policy is to make funds from your 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 they are available, you can withdraw the funds 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 on a business day that we are open, we will consider that day to be the day of your deposit.
 
If you make a deposit at an ATM before 2:00 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 at an ATM after 2:00 P.M. or on a day that 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 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
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. However, the first $200 of your deposits will be available on the first business day after we receive your deposit.
 
If we are not going to make all of the funds from your deposit available on the first business day after we receive your deposit, we will notify you at the time 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 of time under the following circumstances: (1) We believe a check you deposit will not be paid. (2) You deposit checks totaling more than $5,000 on any one day. (3) You redeposit a check that has been returned unpaid. (4) You have overdrawn your account repeatedly in the last six months. (5) 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 seventh business day after the day of your deposit.
 
Deposits at Automated Teller Machines
Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day after the day of your deposit.This rule does not apply at ATMs that we own or operate. We own and operate an ATM located at 138 West Broadway, Plainview, MN.
 
Mobile Deposit Service Deposits
Funds from any deposits made with an internet enabled phone or device through the Mobile Deposit Service are generally available after they are processed and once we receive the funds. If you transmit a qualifying check through the Mobile Deposit Service and we (or our contractors) receive it before 5:00 PM on a business day, we will credit your corresponding account on that same business day. Otherwise, we will credit your corresponding account on the next business day.
 
UNLAWFUL GAMBLING NOTICE
The Unlawful Internet Gambling and Enforcement Act and Regulation GG prohibit any person engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling.
 
This notice is to inform you that restricted transactions are prohibited from being processed through your account at Foresight Bank or through your banking relationship with us. Restricted transactions are transactions in which a person accepts credits, funds, instruments or other proceeds from another person in connection with unlawful internet gambling.
 
Unlawful Internet gambling means to place, receive, or otherwise knowingly transmit a bet or wager by any means that involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable federal or state law in the state of tribal lands where the bet or wager is initiated, received, or
otherwise made.