Disclosure

Statement Disclosure

In Case of Errors or Questions About Your Electronic Transfers (For Consumers Only)

If you think your statement or receipt is wrong, or if you need more information about a transfer listed on your statement or receipt, telephone us at 715-234-9181 or write us at the address listed on the front of your statement as soon as you can. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared.

  1. Tell us your name and account number (if any).
  2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
  3. 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 the use of the money during the time it takes us to complete our investigation.

What To Do If You Think You Find A Mistake On Your Statement (For Consumers Only)

If you think there is an error on your statement, write to us at the address on the front of your statement. You may also contact us on our website at www.dairystatebank.com.

In your letter, give us the following information:

  • Account information: Your name and account number.
  • Dollar amount: The dollar amount of the suspected error.
  • Description of Problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us within 60 days after the error appeared on your statement. You must notify us of any potential errors in writing [or electronically]. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

While we investigate whether or not there has been an error, the following are true:

  • We cannot try to collect the amount in question, or report you as delinquent on that amount.
  • The charge in question may remain on your statement, and we may continue to charge you interest on that amount. But, if we determine that we made a mistake, you will not have to pay the amount in question or any interest or other fees related to that amount.
  • While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
  • We can apply any unpaid amount against your credit limit.

If you have authorized us to pay your minimum monthly payment automatically by charging your checking account, you can stop the payment on any amount you think is wrong. To stop the payment, your letter must reach us three business days before the automatic payment is scheduled to occur.

How Finance Charges are Calculated

If this statement includes billing information regarding a Ready Reserve account, the FINANCE CHARGE for each statement cycle is calculated by applying the daily periodic rate to your daily loan balance each day. To get the daily loan balance, we take the beginning balance of your account each day, add any new advances, and subtract any payments or credits other than the automatic payment on the statement day. The sum of the FINANCE CHARGES for each day of the billing cycle is the total FINANCE CHARGE for that statement period.

Home Equity Line of Credit (HELOC) Statements

FINANCE CHARGE AND ACTUAL DAILY BALANCE CALCULATION

The Finance Charge on your Account will be calculated the following way: First, we figure your “Actual Daily Balance” by taking the opening balance, adding new advances (loans) or fees, and subtracting any payments or credits posted on that day. Then, we multiply the actual daily balance by the daily periodic rate each day in the billing cycle. The sum of these products is the total Finance Charge for the billing period. The Daily Periodic Rate is 1/365th of the Annual Percentage Rate.

The periodic rate may vary from month to month.

MINIMUM PAYMENT DUE is the TOTAL AMOUNT DUE as shown on the statement.

SEND INQUIRIES TO:
Dairy State Bank
16 S. Main Street
Rice Lake, WI 54868
715-234-9181

BILLING RIGHTS SUMMARY

In Case of Errors or Questions About Your Bill

If you think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at the address shown above as soon as possible. You may also contact us on our website at www.dairystatebank.com. 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, give 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.

If you have authorized us to pay your bill automatically from your savings or checking account, you can stop payment on any amount that you think is wrong. To stop the payment, your letter must reach us three business days before the automatic payment is scheduled to occur.