Disclosure
Disclosure/Error Resolution
In Case of Errors or Questions About Your Electronic Transfers
If you think your statement or receipt is wrong, or if you need more information about a transfer on your statement or receipt, telephone or write us at:
Washington Savings Bank
200 S. Banker St., P.O. Box 707
Effingham, IL 62401
1-(800)-836-7173 or (217) 347-7173
We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
- Tell us your name and account number.
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information.
- Tell us the dollar amount of the suspected error.
We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error; so that you will have use of the money during the time it takes us to complete our investigation.
In Case of Errors or Inquiries About Your Credit Line Bill
If you think your bill is wrong, or if you need more information about a transaction on your bill, write us at:
Washington Savings Bank
200 S. Banker St., P.O. Box 707
Effingham, IL 62401
We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, gives us the following information:
- Your name and account number.
- The dollar amount of the suspected error.
- Describe the error and explain if you can, why you believe there is an error. If you need more information, describe the item you are unsure about.
You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you question.
How to Compute Your Credit Line Finance Charge
FINANCE CHARGE: To get the “daily balance”, we take the beginning balance of your account each day, add any new advances or charges and subtract any payments or credits. Interest on this note is computed on a 365/365 simple interest basis; that is, by applying the ratio of the annual interest rate over the number of days in a year (366 during leap year), multiplied by the daily balance, multiplied by the actual number of days the daily balance is outstanding. Whenever the daily balance changes, a new computation is run and the sum total of the finance charges are added together to get the total interest due for a billing cycle.
