Account Disclosures

Effective February 1, 2008

 

Welcome to Kaiser Federal Bank where we strive to provide products and service that you will find beneficial and convenient to enhance your financial health. Our Account Disclosure is designed for you to easily access information regarding your Kaiser Federal Bank account. The features and guidelines of our account products and services are listed within. We have included information regarding our Privacy Policy, Electronic Transaction Resolution, and Identity Theft. We recommend that you take a few moments to review information regarding your account, your rights as an account holder and our obligations to you as your financial institution.

 

Important Information About Procedures For Opening A New Account

 

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

 

What this means to you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license and/or other identifying documents.

 

Identity Theft

Identity thieves obtain some piece of your personal information such as your name, address, date of birth, social security number, mother's maiden name, driver's license, bank or credit card account number and use it without your knowledge to commit fraud or theft.

 

If you suspect that your personal information has been used to commit fraud or theft follow these important steps:

Immediately notify us and your other financial institution(s).

Request that a fraud alert be placed on your credit reports, and review your credit reports by calling or emailing the
     three major credit bureaus.

Equifax -1-800-525-6285; www.equifax.com
Experian -1-888-397-3742; www.experian.com
Trans Union -1-800-680-7289; www.transunion.com

Close the account(s) that you know, or believe, have been tampered with or opened fraudulently.

File a report with your local police department or the police department in the community where the identity theft took place.

File a complaint with the Federal Trade Commission (FTC) at 1-877-IDTHEFT or www.consumer.gov/idtheft

 

Phishing Scams

There is an increase of fraudulent emails known as "Phishing", in which identity thieves send emails that appear to be from a trusted source such as your bank, or a government agency, asking you to "verify" information or otherwise divulge personal data. It is important for you to know that:

• We never send emails requesting personal information.
• We will never ask you to "verify" information via email.
• We will never ask you to click on to a special site link to verify information.

 

While emails of this nature are designed to look like they are from us, and may even unlawfully use our logo, they are most likely a "phishing" scam. Do not answer them. If you receive an email purporting to be from us, do not hesitate to contact us at 1-800-524-CASH, to confirm it.

 

Fraud Alert

Don't fall for fake check scams. If someone you don't know wants to pay you with a check but wants you to wire some of the money back to him/her, beware. This scam could cost you thousands of dollars. There are many variations of fake check scams. A fake check scam usually starts with someone offering to:

• Give you an "advance" on sweepstakes you've won.
• Give you the first installment on the millions you'll receive for agreeing to transfer money from a foreign country into your bank account for safekeeping.
• Buy something you advertised for sale.
• Pay you to work at home.

 

The scammers may claim to be in other countries and profess that it is too difficult to pay you directly, so they'll have someone in the U.S. who owes them money send you a check.

 

The amount of the check may be more than you are owed, so you are instructed to deposit the check and wire the excess balance to the scammer. You may also be told to wire some of the money back to pay a "fee" to claim your "winnings." Whatever the set-up, the result is the same after you've wired the money, you find out that the check is fraudulent.

 

If you think that someone is trying to pull a fake check scam, do not deposit the check, report it. Contact the National Consumers League's National Fraud Information Center 1-800-876-7060 or www.fraud.org.

 

Checking

Minimum initial deposit to open this account	$50.00
(This account can be opened with a $0.00 balance when opened with Direct Deposit)
Minimum daily balance required to keep this account open	$1.00

Interest is not earned on this account.

 

Fees

Photocopy of a Paid Check after 2 free per statement period	$3.00/each
Check Printing	At Cost

 

EasyCash Account

Minimum initial deposit to open this account	$50.00
(This account can be opened with a $0.00 balance when opened with Direct Deposit)
Minimum daily balance required to keep this account open	$1.00

 

Interest is not earned on this account.

 

Fees

Monthly Service Charge	$5.00
Each Withdrawal	$1.00

Account Limitations

No check access

 

Holiday Club Account

Minimum initial deposit to open this account	$0.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet and to keep this account open	$10.00

You can open a Holiday Club account with a zero balance, but a $10.00 deposit must be made within 30 days of the account opening date to remain open. You can make additional deposits at any time. Any withdrawal you make prior to the posting of interest will result in a $10.00 fee.

 

Interest
Interest is calculated on each day's ending balance using the daily periodic rate and paid by November 10 of each year. After interest is applied to the account, the full balance is transferred to your Kaiser Federal Bank Checking Account, or a check for the full balance of the account is mailed to you if you do not have a Checking account. If you close your Holiday Club Account before interest is paid, you will not receive accrued interest.

 

Fees

Penalty for early withdrawals

$10.00/each

 

Savings Account

 

Minimum initial deposit to open this account (This account can be opened with a $0.00 balance when opened with Direct Deposit)	$25.00
Minimum daily balance required to keep this account open	$25.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$100.00

 

Interest
Interest is calculated on each day's ending balance when it is $100.00 or more using the daily periodic rate and paid quarterly. For example, the beginning date of the first interest period of the calendar year is January 1 and the ending date of such interest period is March 31. Interest is paid on March 31. All other interest periods follow this same pattern of dates. If you close your Savings Account before interest is paid, you will not receive accrued interest.

 

Accrual of Interest
Interest will begin to accrue on the business day you deposit cash or non cash items (for example checks) to your account.

 

Fees

Monthly Service Charge if this account balance falls below $200.00 for 1 day or more during the month	$3.00
Excessive Withdrawal Fee after 1 withdrawal per month	$3.00/each
See Savings and Money Market Transaction Limits

 

Dream Savings Account*

Minimum initial deposit to open this account	$100.00
Minimum daily balance required to keep this account open	$100.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$100.00

This is a tiered account.

 

Interest
Interest is calculated on each day's ending balance per tier when it is $100.00 or more using the daily periodic rate, compounded daily and paid monthly. Any funds withdrawn will not earn interest for the current and succeeding interest periods.

 

Accrual of Interest
Interest will begin to accrue on the business day you deposit cash or non cash items (for example checks) to your account.

 

Fees

Monthly Service Charge if account balance falls below $100.00 for 1 day or more during the month	$3.00
Excessive Withdrawal Fee after 1 withdrawal per month	$3.00/each

See Savings and Money Market Transaction Limits

 

*Promotional product only - please ask if available.

 

Money Market Accounts

Money Market Plus

Minimum initial deposit to open this account	$1,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$1,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $1,000.00 for 1 day or more during the month	$10.00
Check printing after 1 free order of 50 checks per year	At cost
See Savings and Money Market Transaction Limits

 

Money Market Plus II

Minimum initial deposit to open this account	$5,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$5,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $5,000.00 for 1 day or more during the month	$20.00
No check access   See Savings and Money Market Transaction Limits

 

Ultimate Money Market

Minimum initial deposit to open this account	$10,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$10,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $10,000.00 for 1 day or more during the month	$20.00
Check printing after 1 free order of 50 checks per year	At cost
See Savings and Money Market Transaction Limits

 

Ultimate Money Market II

Minimum initial deposit to open this account	$15,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$15,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $15,000.00 for 1 day or more during the month	$20.00
No check access   See Savings and Money Market Transaction Limits

 

Platinum Money Market

Minimum initial deposit to open this account	$25,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$25,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $25,000.00 for 1 day or more during the month	$20.00
No check access   See Savings and Money Market Transaction Limits

 

Money Market Saver III

Minimum initial deposit to open this account	$30,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$30,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $30,000.00 for 1 day or more during the month	$30.00
No check access   See Savings and Money Market Transaction Limits

 

Money Market Saver IV

Minimum initial deposit to open this account	$40,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$40,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $40,000.00 for 1 day or more during the month	$30.00
No check access   See Savings and Money Market Transaction Limits

 

Money Market Saver IV Plus

Minimum initial deposit to open this account	$50,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$50,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $50,000.00 for 1 day or more during the month	$30.00
No check access   See Savings and Money Market Transaction Limits

 

Money Market Saver V

Minimum initial deposit to open this account	$75,000.00
Minimum daily balance required in this account to obtain the Annual Percentage Yield (APY) as disclosed on the Rate Sheet	$75,000.00
Minimum daily balance required to keep this account open	$100.00
Monthly Service Charge if account balance falls below $75,000.00 for 1 day or more during the month	$30.00
No check access   See Savings and Money Market Transaction Limits

 

Interest for Money Market Accounts
Interest is calculated using the Money Market Account daily periodic rate on each day's ending balance when it meets the daily balance required or more, compounded daily and paid monthly. Interest is calculated using the Savings Account daily periodic rate on each day's ending balance when it is below the required daily balance, compounded and paid monthly. For example, the beginning date of the first interest period of the calendar year is January 1 and ending date is January 31. Interest is paid on January 31. All other interest periods follow this same pattern. If you close your Money Market Account before interest is paid, you will not receive accrued interest.

 

Accrual of Interest
Interest will begin to accrue on the business day you deposit cash or non cash items (for example checks) to your account.

 

Fees

Excessive Withdrawal Fee (for each Money Market transaction in excess of the limitations described in Savings and Money Market Account Transaction Limits)	$10.00/each
Photocopy of a Paid Check after 2 free per statement period	$3.00/each

 

Money Market Account Limitations

• No ATM access
• Cannot be used for automatic overdraft protection for another account

 

Savings and Money Market Account Transaction Limits

Federal regulation limits you to a combined maximum of six transfers or withdrawals per monthly statement period by means of:

• Preauthorized Transfers
• Overdraft Protection transfers from savings to your checking account (if applicable)
• Telephone transfers, including EasyTeller, Information Service Center transfers and Fax requests
• EasyOnline transfers

Of the six transfers or withdrawals, only three may be made by check payable to third parties (if available with your account).

If you frequently exceed these limits, we may convert the account to a checking account or close your account. We will notify you before we close or convert your account and give you details about your new account.

If you're counting the number of transactions you make each statement period to avoid the transaction limits, you should know that we count an item on the date that we pay it. This date may be different than the date on which you authorize or write the item. A transaction you make during one statement period may not be counted until a later statement period.

 

Certificates of Deposit

Fixed Rate Certificates of Deposit

Minimum initial deposit to open and maintain this account	$1,000.00
Minimum daily balance required in this account to obtain the disclosed Annual Percentage Yield (APY)	$1,000.00

 

Terms of 90 days to 5 years are available. Refer to the Certificate of Deposit Rate Sheet for this product's current interest rates and Annual Percentage Yields.

 

Additional deposits are allowed only at maturity during the seven (7) day grace period.

 

Special Certificates of Deposit*

Minimum initial deposit to open and maintain this account	$10,000.00
Minimum daily balance required in this account to obtain the disclosed Annual Percentage Yield (APY)	$10,000.00
*Promotional product only - please ask if available.

Certificates of Deposit

Daily Balance Computation Method - Interest is calculated on each day's ending balance using the daily periodic rate and compounded daily.

 

Frequency of Interest Crediting - Certificates of Deposit of 90 - 181 days pay interest only at maturity. All other Certificates of Deposit pay interest monthly.

 

Accrual of Interest - Interest will begin to accrue on the business day you deposit cash or noncash items (for example checks) to your account.

 

Withdrawal of Interest Prior To Maturity - The Annual Percentage Yield (APY) is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.

 

Early Withdrawal Penalties - Paid interest may be withdrawn at anytime without penalty. Any funds withdrawn will not earn interest for the current and succeeding interest periods. Withdrawal of funds representing the principal of the account will be subject to the following:

• If the qualifying period is one year or less, the customer shall forfeit an amount equal to ninety (90) days interest whether earned or not (this may reduce principal and result in account closure).
• If the qualifying period is greater than one year, the customer shall forfeit an amount equal to one hundred and eighty (180) days interest whether earned or not (this may reduce principal and result in account closure).

 

Penalties Shall Not Apply For:

• Withdrawal of paid interest.
• Withdrawals made subsequent to the death of any owner of the account.
• Withdrawals made as a result of the voluntary or involuntary liquidation of Kaiser Federal Bank.

 

Renewal Policy
Upon expiration of the initial term, the Certificate of Deposit will be automatically renewed for the same term, at the prevailing interest rate, unless written notice for alternate disposition is received by Kaiser Federal Bank within the required period as defined in the next paragraph.

The Certificate of Deposit Account will automatically renew at the close of business on the maturity date of any renewal term unless: 1) withdrawn or transferred within the seven (7) day period immediately following the scheduled or renewal date; or 2) at least thirteen (13) days prior to a scheduled or renewal date, Kaiser Federal Bank gives written notice that this account will not be renewed.

In such latter event, the Certificate of Deposit Account will be transferred to a Savings Account of the owner upon maturity and earn interest at the Annual Percentage Yield then paid on the Savings Account if applicable or mailed to the address on record.

 

IRA ACCOUNTS

IRA Savings Minimum initial deposit to open and maintain this account	$100.00
Minimum daily balance required in this account to obtain the disclosed Annual Percentage Yield (APY)	$100.00
Interest Interest is calculated on each day's ending balance when it is $100.00 or more using the daily periodic rate and paid quarterly. Any funds withdrawn will not earn interest for the current and succeeding interest periods.
Fees Annual Maintenance Fee	$15.00
IRA Trustee Transfer/Distribution/Closing Fee If you withdraw from, close or transfer your IRA Savings Account to another financial institution, there is a $15.00 fee. The fee is waived if you transfer your IRA Savings Account to another Kaiser Federal Bank IRA Account.
Super Savings IRA* Minimum initial deposit to open and maintain this account	$100.00
Minimum daily balance required in this account to obtain the disclosed Annual Percentage Yield (APY)	$100.00
This is a tiered account
Interest Interest is calculated on each day's ending balance per tier when it is $100.00 or more using the daily periodic rate, compounded daily and paid monthly. Interest will begin to accrue on the business day you deposit cash or non cash items (for example checks) to your account.
Withdrawals Any funds withdrawn will not earn interest for the current and succeeding interest periods.
Fees Annual Maintenance Fee	$15.00
IRA Trustee Transfer/Distribution/Closing Fee If you withdraw from, close or transfer your Super Savings IRA Account to another financial institution, there is a $15.00 fee. The fee is waived if you transfer your Super Savings IRA Account to another Kaiser Federal Bank IRA Account. *Promotional product only - please ask if available
IRA Certificate of Deposit Minimum initial deposit to open and maintain this account	$500.00
Minimum daily balance required in this account to obtain the disclosed Annual Percentage Yield (APY)	$500.00
Refer to the Certificate of Deposit Rate Sheet for this product's terms, current interest rates and Annual Percentage Yields.
IRA Special Certificate of Deposit* Minimum initial deposit to open and maintain this account	$10,000.00
Minimum daily balance required in this account to obtain the disclosed Annual Percentage Yield (APY)	$10,000.00
Refer to the Certificate of Deposit Rate Sheet for this product's terms, current interest rates and Annual Percentage Yields. *Promotional product only - please ask if available.
IRA Certificates of Deposit
Interest Interest is calculated on each day's ending balance using the daily periodic rate, compounded daily and paid monthly. Interest will begin to accrue on the business day you deposit cash or non-cash items (for example, checks) to your account.
Transaction Limitations No additional deposits are allowed to IRA Certificate of Deposit Accounts until maturity.
Withdrawals Any funds withdrawn, excluding transfers, will not earn interest for the current and succeeding interest periods. Premature withdrawal of funds is subject to the penalties described in the next section.
Early Withdrawal Penalties Any premature withdrawal will be subject to the following: If the qualifying period is one year or less, you will forfeit an amount equal to ninety (90) days interest whether earned or not (this may reduce the principal and result in account closure). If the qualifying period is greater than one year, you will forfeit an amount equal to one hundred eighty (180) days interest whether earned or not (this may reduce the principal and result in account closure).
Penalties Shall Not Apply For Withdrawals made subsequent to the death of the owner of the account. Withdrawals taken due to permanent disability of the account holder. Withdrawals made as a result of the voluntary or involuntary liquidation of Kaiser Federal Bank.
Renewal Policy Upon expiration of the initial term, the IRA Certificate of Deposit will be automatically renewed for the same term, at the prevailing interest rate, unless written notice for alternate disposition is received by Kaiser Federal Bank within the required period as defined in the next paragraph. The IRA Certificate of Deposit Account will automatically renew on the maturity date of any renewal term unless: 1) withdrawn or transferred within the seven (7) day period immediately following the scheduled renewal date; or 2) at least thirteen (13) days prior to a scheduled renewal date, Kaiser Federal Bank gives written notice that this account will not be renewed. In such latter event, the IRA Certificate of Deposit Account will be transferred to the IRA Savings Account of the owner upon maturity and earn interest at the Annual Percentage Yield then paid on the IRA Savings Account.
Fees Annual Maintenance Fee	$15.00
IRA Trustee Transfer/Distribution/Closing Fee - If you withdraw from, close or transfer your IRA Certificate of Deposit Account to another financial institution, there is a $15.00 fee. The fee is waived if you transfer your IRA Account to another Kaiser Federal Bank IRA Account. All Individual Retirement Accounts are added together and the total is insured up to $250,000.00 by the FDIC.

 

ATM Fees

Deposits through Kaiser Federal Bank ATMs	None
Inquiries and Withdrawals at Kaiser Federal Bank ATMs	None
Replacement of EASYCASH or ATM/VISA Check Card or PIN	None

 

For EASYCASH or ATM/VISA Check Card transactions, please refer to the Cardholder Agreement & Electronic Funds Transfer Disclosure enclosed with your Card.

 

 

Direct Deposit and Pre-Authorization Fees

Direct Deposit Fee	None
You may make arrangements for certain direct deposits (such as Social Security, payroll or state retirement) to be accepted into your Checking, Savings or Money Market Accounts.
Pre-Authorized Withdrawal Fee	None
You may make arrangements to pay certain recurring payments from your Checking or Savings Accounts. (Excessive withdrawal fees apply)
Pre-Authorized Stop Payment Fee	$20.00

 

EasyStreet

EasyTeller
You may access your account by calling 1-800-225-EASY using a touch tone phone and your account number. Follow the automated instructions to:

• make payments from Checking to Loan accounts with us
• make payments from Savings to Loan accounts with us
• make withdrawals from Savings or Checking accounts
• make transfers from Savings to Checking
• make advances on your Line of Credit
• get information about:
  - Checks cleared
  - Direct Deposits
  - Deposit interest paid
  - Amount of loan interest paid
  - Savings and Checking account balances
  - Fax account statements
  - Re-order of checks

EasyTeller (Audio Response) Telephone Transaction Fee

None

 

EasyPay
Pay your bills or move your money from your Kaiser Federal Bank Checking account on your time schedule from your personal computer. You can make unlimited payments per month without an EasyPay fee. Go to www.kaiserfederal.com for a complete disclosure.

EasyPay Fee

None

 

EasyOnline
Use your personal computer to view your account(s) and perform all the inquiries and transactions available on EasyTeller. A complete disclosure and login requirements are on www.kaiserfederal.com.

EasyOnline Fee	None
Telephone Service Center Phone Service Fee	$1.00

 

After your first call within a month, this fee will be charged for any transaction or inquiry that is performed by the Information Service Center that could be performed through EasyTeller or EasyOnline.

 

Unclaimed Property Law-Escheat

If there is no activity by you on your account(s) with us for a three-year period, such as making a deposit or withdrawal, or writing to us about your account, or having other contact with us shown in our records, we must transfer your deposit balance(s) to the State of California.

 

General Fees

Account Research (One hour minimum)	$25.00
Cashier's Check	$10.00
Collections   Incoming Domestic   Outgoing Domestic	$15.00 $15.00
Consumer Loan Application Processing	$25.00
Copy of Account Statement	$4.00
Copy of Account Withdrawal Check	$3.00
Dormant Account	$12.00/year
Each Third Party Corporate Check	$5.00
Education Savings Account (ESA) Annual Maintenance	$15.00
ESA Transfer/Distribution/Close	$15.00
IRA Annual Maintenance	$15.00
IRA Trustee Transfer/Distribution/Close	$15.00
Levy Processing Charge	$65.00/each
Line of Credit Annual	$5.00
Medallion Stamp Signature (Balance below $5,000)	$5.00/each
Non-Customer Check Cashing	$5.00
Non-Sufficient Funds item returned	$25.00
Non-Sufficient Funds item paid (Checks, ATM, and ACH)	$25.00
Notary	None
Returned Deposit Item Charge	$15.00
Stop Payment ON-US performed through EasyOnline	None
Stop Payment ON-US, Corporate, Cashiers, Visa Check Card, or Automated Clearing House (ACH) per order	$20.00
You may stop payment on a check you have written on your account if the check has not already been paid by Kaiser Federal Bank on the business day your request is received. You can contact us at the telephone number or address listed on this brochure. An oral stop payment is valid for 14 calendar days. A written stop payment is valid for six months.
Travelers Cheques Free to customers who have a Checking account; have a minimum balance of $1,000.00 in any account; or are 55 years of age or older (applies to single signer Travelers Cheques).	1% of face value
Verification of Deposit (VOD)	$10.00
Wire Transfers: Domestic Outgoing Domestic Incoming International Outgoing International Incoming	$25.00 $10.00 $40.00 $10.00

 

A listing of additional fees and charges that are specific to real estate loans is available upon request at any of our offices.

 

ALL FEES AND SERVICE CHARGES
ARE SUBJECT TO CHANGE

 

Your Ability to Withdraw Funds

Our policy is generally to make funds from your cash and wire transfer deposits available to you the business day on which we receive your deposit, electronic direct deposits available on the effective date of the deposit and check deposits available to you the next business day after we receive your deposit (except deposits received at an ATM). Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. Generally, deposits at an ATM will be available on the first business day following the day of 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 before 4:00 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 after 4:00 p.m. or on a day we are not open, we will consider the next business day we are open to be the day of your deposit. Night Deposit Boxes may have earlier times posted. If the deposit is made to a Night Deposit Box after the posted time, it will be deemed received the next business day.

 

Longer Delays May Apply

In some cases, we will not make all of the funds that you deposit by check available to you the next business day after we receive your deposit. Depending on the type of check you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $100 of your total deposits for the day, however, will be available on the next business day after we receive your deposit.

 

If we are not going to make all of the funds from your deposit available the business day after the day 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 following business 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:

• We believe a check you deposit will not be paid.
• You deposit checks totaling more than $5,000.00 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency, such as failure of computer or communications 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 11th business day after the day of your deposit.

 

Holds On Other Funds
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.

Special Rules for New Accounts

If you are a new account holder, the following special rules may apply during the first 30 days your account is open.

Funds from cash, wire transfers and electronic direct deposits to your account will be available on the day we receive the deposit. The first $5,000.00 of a day's total deposits of cashier's, certified, teller's, traveler's 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. The excess over $5,000.00 will be available not later than 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.

 

Substitute Checks and Your Rights

Federal rules for Check 21 allow banks to replace original checks with "substitute checks." Here are the details about what this means to you.

 

Substitute Checks and Your Rights

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 rights you have 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 laws 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 laws.

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 using the information listed under Your Liability for Unauthorized Transactions. 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 will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must include -

• A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
• An estimate of the amount of your loss;
• An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss, and
• A copy of the substitute check (and/or) the following information to help us identify the substitute check: the check number, the name of the person to whom you wrote the check, the amount of the check.

 

Electronic Funds Transfer

Preauthorized Automatic Transfers
The following terms apply to preauthorized and automatic transfers governed by the Electronic Funds Transfer Act. This includes preauthorized electronic funds transfers to or from your account by means of computer or magnetic tape, including preauthorized electronic funds transfers made to your account from a third party

 

(e.g. Social Security, a pension fund or your employer) or from your account to a third party (e.g., recurring mortgage or insurance payments). Indicated below are additional types of Electronic Funds Transfers we are capable of handling, some of which may not apply to your account.

 

Electronic Funds Transfers Initiated by Third Parties
You may authorize a third party to initiate electronic funds transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payment networks. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant posts a sign informing you of their policy. In all cases, the transaction will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit slip. Thus, you should only provide your bank and account information (whether over the phone, the internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic funds transfers.

 

Electronic Check Conversion
You may provide your check to a merchant or service provider who will scan the check for the encoded bank and account information. The merchant or service provider will then use this information to convert the transaction into an electronic funds transfer. This may occur at the point of purchase, or when you provide your check by other means such as by mail or drop box.

 

Electronic Returned Check Charge

Some merchants or service providers will initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.

 

Notice of Receipt of ACH Items

Under the operating rules of the National Automated Clearing House Association, which are applicable to Automated Clearing House (ACH) transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item, and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide you.

 

Notice of Provisional Payments

Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry and the party making payment to you via such entry, (i.e., the originator of the entry) shall not be deemed to have paid you the amount of such entry.

 

Notice of Choice of Law
We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses and which are not subject to the Electronic Funds Transfer Act. Your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of New York as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account.

 

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.)

 

Periodic Statements
Monthly statements will be mailed to you unless there are no electronic funds transfers performed on your deposit account in a particular month. In any case, you will receive a statement at least quarterly.

 

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:

• if, through no fault of ours, you do not have enough money in your account to make the transfer;
• if the transfer would exceed the credit limit of your overdraft line;
• if the terminal or system was not working properly and you knew about the breakdown when you started the transfer;
• if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken;
• there may be other exceptions in our agreement with you.

 

Your Liability for Unauthorized Transactions
If you believe your account has been improperly accessed, call us at 1-800-524-CASH IMMEDIATELY. Telephone contact with us is the best way of keeping your possible losses down. If you call us within 2 business days, you can lose no more than $50 if someone accessed your account without your permission. Written notification must be received within ten (10) days.

 

If you do NOT call us within 2 business days after you learn of an improper access, and we can prove we could have stopped someone from using your account without your permission if you had told us, you could lose as much as $500.

 

Also, if your statement shows transactions that you did not make, call us AT ONCE. If you do not call us within 60 days after the first 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.

 

Call or write us at the number or address below.

 

Call toll free Monday through Friday during the hours of 7:00 a.m. to 7:00 p.m.

1-800-524-CASH (2274)

 

or write:

Kaiser Federal Bank
P.O. Box 6107
Covina, CA 91722-5107

 

Right to Stop Payment on Pre-Authorized Payments

If you have informed us in advance to make regular payments from your Kaiser Federal Bank account(s), you can place a verbal or written stop payment on it as long as we receive the request at least three banking days before the scheduled date of payment. A verbal stop payment request is valid for 14 calendar days. A written stop payment request will stop all future payments for the particular debit transmitted by the designated payee-originator until you notify us that payments should resume. We may also require you to put your request in writing and deliver it to us within 14 days of your verbal notification. If we do not receive the required written notification within the 14-day period, we may honor subsequent debits to your account.

 

Liability for Failure to Stop Payment of Pre-Authorized Transfer

If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

 

Privacy Policy Disclosure
Disclosure of Account Information to Third Parties

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

• where it is necessary for completing transfers;
• in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
• in order to comply with government agency or court orders;
  - or
• if you give us written permission.

 

We respect your financial privacy and comply with laws and regulations designed to secure that privacy. Your relationship with us is important, and we want you to understand our policies and practices about handling information. We will keep confidential any information about you, but may share information about you with business partners as described below in order to provide better service. "Information" means nonpublic, personal financial information.

 

Information About YOU
We may routinely collect or retain information that includes your: (1) name, address, telephone number, social security number, annual income, current and past employers; (2) answers to questions on deposit and loan applications; and (3) deposit and loan balances, overdraft history and payment history with us.

 

We collect information from consumer reporting agencies regarding credit and checking account histories. To better serve you, we also may retain information about the types of products and services that you purchase from us to learn about your financial needs and interests. We may share this information with others to the extent permitted by law and in accordance with our information sharing policies and practices listed below.

 

Safeguarding Information About YOU
Information that we have about you is available to our employees and agents on a "need to know" basis so they can do their jobs. We prohibit our employees and agents from giving information about you to anyone in a manner that would violate any applicable law or our privacy policy. We do not provide information about you to anyone without first verifying who they are and whether they may have legal access to the information. We train our employees to protect information we have about you. We also have a disaster preparedness program to secure this information in case of natural disasters, hazards or threats. Our security and confidentiality procedures are routinely tested to make sure they work.

 

Account Numbers/Access Codes
We will not disclose your account number or access code for a credit card account, deposit account or transaction account to a non-affiliated third party in order for them to sell you products or services. We may give your account number to consumer reporting agencies because we are allowed or are required to do so by law.

 

Information Sharing - Agent Non-affiliated Companies
We may share information about you with certain non-affiliated companies that are our agents. We do this to provide convenient access to products or services, or because these companies help us perform necessary business functions or services. This sharing is permitted by law. Such agents are required to keep confidential any information about you that we give them.

 

Information Sharing - Non-agent Non-affiliated Companies/Persons
We may share information about you with non-agent, non-affiliated companies and persons-companies and persons that are not owned or controlled by us. We do this so you can have convenient access to other products and services.

 

Children's Privacy
We do not knowingly collect personal data from children.

We take specific steps to protect the privacy of children by:

• making reasonable efforts to ensure that a parent has authorized the collection of the child's personal data
• giving parents the option to consent to the collection and use of the child's personal data for our internal use

 

Your Opt-Out Rights
You may opt-out of: (1) our sharing of "other information" about you with our affiliates under the Fair Credit Reporting Act; and (2) our sharing of information about you with non-agent, non-affiliated companies and persons. You may opt-out of all or some of this information sharing at any time.

 

You may opt-out by calling us toll free at 1-800-524-CASH, Monday through Friday, 7:00 a.m. to 7:00 p.m., PST. It is important to note that transactional and experiential information (such as account transactions, balances and payment history) with a customer can be shared among affiliates and others permitted by federal law. Please allow us a reasonable amount of time to process your request. To revoke your opt-out, call us at the number and the times indicated above. Should you choose to opt-out of information sharing you may not receive promotional information regarding loan and deposit specials.

 

On Line Privacy
We do not gather user specific information details from your computer Internet software or save data about you and your computer, when you visit our public web site at www.kaiserfederal.com, other than what is needed to authenticate consumer access to our home banking products. Our site uses browser cookies only after you have logged into our home banking products, and then only to keep track of your transaction status or menu positions. We do not store cookies on your computer after you have logged out of our home banking products, except by your request. More information on cookies can be found at www.netscape.com.

 

Many of our partners have pages that look and navigate like our site. We will notify you via a pop up window to let you know that you are leaving our site and our privacy policy practices. We strive to protect your information and suggest that you read the privacy policies of the site to which you are redirected BEFORE supplying any personal information. We will not pass any information to these sites in accordance with our privacy policy without your express consent.

 

Online Security
Our site has security measures in place to protect against loss, misuse and alteration of the information under our control. You may review your account record on our web site through a secure session and change certain information. Changes to certain information, such as date of birth and other information used to verify identity, need to be made in writing. Account information is encrypted to prevent other parties from accessing your data, and to ensure that you receive the data intact. Our web site contains links to other web sites. Kaiser Federal Bank is not responsible for the privacy practices or the content of other such sites. Should you feel that there has been a breach to the security of this site, please contact us immediately at 1-800-524-CASH.

 

For transactions at this site, with respect to privacy, should you, our customer, require follow up or response to your questions or complaints, you may contact us at info@kffg.com. If your follow up or your complaint is not handled to your satisfaction, then you should contact the Office of Thrift Supervision who handles consumer complaints for e-commerce for Kaiser Federal Bank. They can be reached at www.ots.treas.gov.

 

Ending Customer Relationship
Should you end your customer relationship with us, or should we end our customer relationship with you, we will treat the information we have about you as if you were still our customer.