Respect of Right to Privacy
Olmsted National Bank respects your right to privacy and takes every precaution to provide you with the same level of privacy within our virtual branch that you receive through more traditional bank delivery channels.
Collection and Use of Personal Information
The collection of personal information online is designed to protect access to your personal accounts and to assist the bank in providing you with the products and services you want and need. All personal information collected and stored by the bank is used for specific business purposes-to protect and administer your personal accounts and transactions, to comply with state and federal banking regulations, and to help the bank better understand your financial needs in order to design or improve our products and services.
Employing stringent security measures in the collection of your personal information, all Olmsted National Bank online account applications are submitted to the bank’s secure administration site through an encrypted direct line to the bank. Once received by the bank, only approved personnel may open and process the application. Furthermore, auditing mechanisms have been put into place to further protect your information by identifying which employee(s) has accessed and in any way modified-for example, updated or added to-your personal information.
Maintenance of Accurate Information
It is in the best interest of both you and the bank to maintain accurate records concerning your personal information. For this reason, Olmsted National Bank allows you to update your personal information online, at anytime, through the submission of encrypted email requests sent to the bank’s secure administration site. Notifications are immediately sent to approved bank personnel alerting them to the receipt of your request. This procedure allows Olmsted National Bank to update your personal information within a timely manner.
Limited Employee Access to Personal Information
Olmsted National Bank limits employee access to your personal information to only those bank administrators with a business reason for knowing such information. Olmsted National Bank also educates all employees about the importance of confidentiality and customer privacy. In addition, individual user names and passwords are used by approved bank personnel to access your personal information online, providing audit trails to further safeguard the privacy of your personal information.
Third-Party Disclosure Restrictions
Olmsted National Bank follows strict privacy procedures in regard to protecting your personal information. In addition, the bank requires all third parties with a business need to access this information to adhere to similar and equally stringent privacy policies. Personal information may be supplied to a third party in order to process a customer transaction; if the customer requests it; the disclosure is required or allowed by law (i.e. exchange of information with reputable reporting agencies, subpoena, or the investigation of fraudulent activity, etc.)
Disclosure of Privacy Policies
On September 11, 2001, our lives changed forever. In an effort to protect you and our country, the USA PATRIOT Act was signed into law. To help the United States Government fight terrorism and money laundering, Federal law requires financial institutions to obtain, verify, and record information that identifies each individual, business or entity that opens an account or establishes relationship. What this means for you:
When you open an account or establish a relationship, we will ask for your:
- Date of Birth,
- Residential Street Address,
- Mailing Address, if different from Street Address, and
- Identification Number, such as a Driver’s License Number, Social Security Number, Taxpayer Identification Number, National Identification Number or Passport Number.
For businesses and other entities, such as corporations, trusts, etc.
When you open an account or establish a relationship, we will ask for your:
- Official Name,
- Principal Place of Business or Local Business Street Address, and
- Taxpayer Identification Number or other Registration Number.
For individuals, we may also ask to see (and retain a copy of) your driver’s license, passport or other identifying documents that will help us identify you. For businesses or entities, we may also ask for a copy of your formation documents or other related documentation. If we have difficulty verifying an accountholder’s identity, we may not be able to open an account or establish a relationship, or we may have to block or close the account.
Thank you for your cooperation.
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 for 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 or other identifying documents.
Online bill payment is provided to you for your convenience. The actual payment of such bills is handled by an independent third party, Pay Trust. Therefore, Olmsted National Bank cannot and will not guarantee or be held responsible for the completion and accuracy of such transactions. Please contact us with any questions you may have regarding the above-identified information at 507-280-0621.
Federal Reserve Board Regulation E
In case of errors or questions about your electronic transfers, call (507) 280-0621 or write Olmsted National Bank at 975 34th Avenue NW, Rochester, MN 55901, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on your statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
- Tell us your name and account number (if any).
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is in 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 question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (5 business days for Check Card point-of-sale transactions and 20 business days if the transfer involved a new account) after we hear from you and we 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 point of sale transaction or a foreign initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for Check Card point-of-sale transactions and 20 business days if the transfer involved a new account) for the amount you think is in error. You will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before another account is opened.
We will tell you the results within three business days after completing our investigation. If we determine that there was no error, we will send you a written explanation within three business days after we complete our investigation and debit your account for the amount previously credited. You may ask for copies of the documents that we used in our investigation.
OLMSTED NATIONAL BANK
975 34TH AVENUE NW
ROCHESTER, MINNESOTA 55901
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (507) 280-0621
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST
From our web sites, we do not knowingly collect or use personal information from children under 13 without containing verifiable consent from their parents. Should a child whom we know to be under 13 send personal information to us, we will only use that information to respond directly to that child, seek parental consent, or provide parental notice. We are not responsible for the data collection and use practices of nonaffiliated third parties to which our web sites may link.
For more information about the Children's Online Privacy Protection Act (COPPA), visit the FTC web site: www.ftc.gov
If you suspect misuse of your personal information to commit fraud, take immediate action. Keep a record of all conversations and correspondence when you take the following suggested steps:
Contact your financial institutions and credit card issuers immediately so that the following can be done:
- Access to your accounts can be protected;
- Stop payments can be placed on missing checks;
- Personal identification numbers (PINs) and on-line banking passwords can be changed;
- A new account can be opened, if appropriate.
Be sure to indicate to the bank or card issuer all of the accounts and/or cards potentially impacted; including ATM cards, check (debit) cards and credit cards. Customer service or fraud prevention telephone numbers can generally be found on your monthly statements. Contact the major check verification companies to request they notify retailers using their databases not to accept these stolen checks, or ask your bank to notify the check verification service with which it does business.
- Three of the check verification companies that accept reports of check fraud directly from consumers are:
- TeleCheck (800) 710-9898
- International Check Services (800) 631-9656
- Equifax (800) 437-5120.
File a police report with your local police department. Obtain a police report number with the date, time, police department, location, and police officer taking the report. The police report may initiate an investigation into the loss with the goal of identifying, arresting, and prosecuting the offender, and possibly recovering your lost items. The police report will be helpful when clarifying to creditors that your are a victim of identity theft.
- Contact the major credit bureaus and request a copy of your credit report. Review your reports to make sure additional fraudulent accounts have not been opened in your name nor that unauthorized changes have been made to your existing accounts. Check the section of your report that lists "inquiries." Request that the "inquiries" be removed from your report from the companies that opened the fraudulent accounts. In a few months, order new copies of your reports to verify your corrections and changes to make sure no new fraudulent activity has occurred. Request a "fraud alert" for your file and a victim's statement asking creditors to call you before opening new accounts or changing your existing ones. This can help prevent an identity thief from opening additional accounts in your name. Here are the major credit bureaus and their phone numbers:
- Equifax (800-525-6285),
- Experian (888-397-3742)
- Trans Union (800-680-7289).
Check your mailbox for stolen mail. Make sure no one has requested an unauthorized address change, title change, PIN change, nor ordered new cards or checks to be sent to another address. If a thief has stolen your mail to get credit cards, bank and credit card statements, pre-screened credit offers or tax information, or if an identity thief has falsified change-of-address forms, that's a crime. Contact your local post office and police.
Maintain a written chronology of what happened, what was lost and the steps you took to report the incident to the various agencies, banks and firms impacted. Be sure to record the date, time, contact telephone numbers, person you talked to and any relevant report or reference number and instructions.
Up to 500,000 individuals are victims each year of identity theft, a fast-growing form of fraud. Fortunately, a few simple steps can help ensure that you stay out of these statistics. "Identity theft" or "account takeover fraud" involves criminals stealing an individual's personal information. The criminal assumes a person's identity, applies for credit in the victim's name, runs up huge bills and generally wrecks the victim's credit record.
At Olmsted National Bank, we put a combination of safeguards in place to protect customers including employee training, rigorous security standards, data encryption, and fraud detection.
You can take these steps to avoid becoming a victim:
- Don't give your Social Security or account numbers to anyone over the phone unless you initiated the call.
- Tear up receipts, old account statements and unused credit card offers before throwing them away. Criminals could steal information from your trash and use it to get credit in your name.
- Review your account and credit card statements as soon as you receive them to check for unauthorized transactions.
- Protect your PIN's and computer passwords; use a combination of letters and numbers and change them often. Never carry this information with you!
- Order copies of your credit report once a year to ensure accuracy. Call any of the national credit reporting agencies.
- Report any suspected fraud to Olmsted National Bank and credit card issuers immediately so that they can start to close accounts and clear your name right away.
By law you are only liable for the first $50.00 of unauthorized charges against a credit card account. Still, restoring you identity can be a tremendous inconvenience. It's worth your while to exercise a little preventive maintenance. Protect yourself against this terrible crime.
For more personal finance tips visit the American Bankers Association's Consumer Connection at www.aba.com.
What's phishing? Phishing is a form of fraud that uses authentic-looking e-mail to convince people to send their credit card numbers, bank account information, Social Security numbers, passwords, and other confidential and private information to an unknown person.
Here are a few tips that will make it more difficult for fraud artists to target you:
- Never send confidential or financial information in an e-mail message.
- Don't click Web links in suspicious e-mails.
- Never enter confidential or financial information in an online form that you accessed from a Web link in a suspicious e-mail.
- Don't trust that a message is from whom it appears to be from. The "From" address in an e-mail message is easily forged.
- Contact the company that the message appears to be from if you receive an e-mail asking for private or confidential information.
Copyrights/Trademarks/Restrictions on Use
All of the pages and screens on the Site are owned and controlled by Olmsted National Bank, except as otherwise expressly stated, and are protected by U.S. copyright laws. The copyrighted materials on the Site include, but are not limited to, the text, design, software, images, graphics, source code, and the content on the Site. You are authorized to view the information available on the Site for your informational purposes only. You may download copyrighted materials for your personal or internal business purposes only. You acknowledge that you do not acquire any ownership rights by downloading copyrighted material. You may not copy, display, distribute, transfer, link to, reproduce, license, frame, alter, create derivative works of or republish all or any portion of the Site for any commercial or public purpose without Olmsted National Bank's prior written consent.
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