IMPORTANT DISCLOSURE TO OUR CONSUMER CUSTOMERS – 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 the statement or receipt, we must hear from you no later than 60 days* after we sent you the FIRST statement on which the error or problem appeared. Telephone us a (888)751-5120 or write to us at RiverWood Bank, PO Box 458, Bemidji, MN 56619.

·         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.

If you tell us orally, we may require that you send us your complaint or questions in writing within 10 business days. We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign initiated transfer) to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents we used in our investigation.

* Please note: Paper draft and paper check claims must be disputed within 30 days per the Terms and Conditions of Your Account.

CONSUMER BILLING RIGHTS SUMMARY – WHAT TO DO IF YOU THINK YOU FIND A MISTAKE ON YOUR STATEMENT

If you think there is an error on your statement, write to us at: RiverWood Bank, P.O. Box 458, Bemidji, MN 56619. You must contact us within 60 days after the error appeared on your statement. You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any potential error and you may have to pay the amount in question.

 

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.

 

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.

 

HOW YOUR INTEREST CHARGE IS CALCULATED FOR READY RESERVE

We calculate the interest charge on your account by applying the periodic rate to the “daily balance” of your account for each day in the billing cycle. To get the “daily balance” we take the beginning balance of your account each day, add any new advances or fees, and subtract any unpaid interest or other finance charges and any payments or credits. This gives us the daily balance.

REPORTS TO AND FROM CREDIT BUREAUS

We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

IMPORTANT DISCLOSURES TO OUR BUSINESS CUSTOMERS

Errors related to any transaction on a business account will be governed by any agreement between us and/or all applicable rules and regulations governing such transactions, including the rules of the National Automated Clearing House Association (NACHA Rules) as may be amended from time to time. If you think this statement is wrong, please telephone us at (888)751-5120 immediately.

 

To find the branch nearest you please visit our website at www.riverwoodbank.com or contact us at (888)751-5120

 

                                                                                                                                                                               

 

 

 

 

Balance my Checkbook

Balancing Your Checking Account

You may use this form to assist you in balancing your checking account to your statement.  Please complete all the information for the Statement Balance and Check Register Balance forms, and click the Calculate buttons near the bottom of the page.   When the Balances at the bottom of the page equals each other, (Adjusted Statement Balance and Adjusted Check Register Balance) you have balanced your checkbook!  If the Adjusted Statement Balance and Adjusted Check Register Balance do not equal each other, make sure all the information entered is correct and complete, and calculate and compare balances again.

Statement Balance Form

First Step

Enter Ending Balance of this Bank Statement:


Next Step :
Go through your check copies/stubs or check register and mark off each check listed as paid, as well as deposits and withdrawals, on your statement.  If you have written a check, deposited funds/money, or made withdrawals not listed on your statement, follow the instructions below to complete the fill-in section. Complete this section first.

  • Enter type of transaction (unpaid checks, deposits, and withdrawals) shown in your register and not on your statement.
  • Enter amount of the transaction
  • The BALANCE column is computed for you when you click the CALCULATE button near the bottom of the page  
Transaction Amount Balance
.


Final Step :

Click "Calculate", and your final account balance will be displayed!

Adjusted Statement Balance:

Checkbook Register Balance Form

First Step:

Enter Check Register Balance:


Next Step:
Go through your checkbook register and compare recorded items to your statement.  If ATM transactions, interest, fees/charges, incoming transfers (to your checking account), and outgoing transfers (from your checking account) are not recorded already in your checkbook register, follow the instructions below to complete the fill-in section.

  • Enter type of transaction (ATM, interest, fee/charge, and transfers) shown on your statement and not in your register.
  • Enter amount of the transaction
  • The BALANCE column is computed for you when you click the CALCULATE button near the bottom of the page
Transaction Amount Balance
.


Final Step :

Click "Calculate", and your final book balance will be displayed!

Adjusted Check Register Balance:

The Adjusted Statement Balance and Adjust Check Register Balance should equal each other.   If they equal each other, you have balanced your checking account!  If they do not equal each other, make sure all the information entered is correct and complete, and calculate and compare balances again.