Cambridge Savings Bank


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Deposit Statement Disclosures

 

In Case of Errors or Questions About Your Electronic Transfers

Telephone us at the number on the front of this statement or write us at Cambridge Savings Bank, Attention ATM Coordinator, P.O. Box 38026, Cambridge MA 02238-0206 as soon as you can, 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.

  1. Tell us your name and account number.
  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 your think is in error, so that you will have the use of the money during the time it takes us to complete our investigation.

In Case of Errors or Questions About Your Overdraft Protection Bill Only

  1. If you think there is an error on your overdraft bill or statement, write to us at: Cambridge Savings Bank – ATTN: Loan Servicing Dept., 1374 Massachusetts Avenue, Cambridge, MA 02138.
  2. 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:
  3. If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake. 4) You must contact us within 60 days after the error appeared on your statement.
  4. 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 errors and you may have to pay the amount in question.
  5. While we investigate whether or not there has been an error, the following are true:
    1. we cannot try to collect the amount in question, or report you as delinquent on that amount.
    2. 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.
    3. While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
    4. We can apply any unpaid amount against your credit limit.

 

Interest Charge for Overdraft Line of Credit

We will figure the INTEREST CHARGE as follows: We will figure the daily balance for the Credit Line by taking the beginning balance of the Credit Line each day, add new loans, subtract payments, credits, adjustments and unpaid Interest Charges. Next, we will figure the AVERAGE DAILY BALANCE by adding all the daily balances for the statement period and dividing the total by the number of days in the statement period. We will then multiply the AVERAGE DAILY BALANCE by the DAILY PERIODIC RATE (The DAILY PERIODIC RATE is figured by dividing the applicable ANNUAL PERCENTAGE RATE by 365). The result will be the DAILY INTEREST CHARGE. We will then multiply the DAILY INTEREST CHARGE by the number of days in the statement period to arrive at the INTEREST CHARGE.

 

Downloadable Agreements

Overdraft Line of Credit Agreement ›
Consumer Mobile Deposit Agreement ›