USA Patriot ActImportant information About Opening A New Account
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. Funds Availability Policy Our general policy is to allow you to withdraw funds deposited in your account on the first business day after we receive your deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first business day. Then, the funds will generally be available by the second, seventh or eleventh business day after the day of the deposit (depending on the circumstances of the deposit). Important Account Notice Regarding an Update to the Federal Reserve Regulation GGUnlawful Internet Gambling Enforcement Act of 2006. INTERNET GAMBLING TRANSACTIONS - You may not use your Bank of Salem account in connection with any business of placing, receiving or otherwise knowingly transmitting bets or wagers by any means which involves the use, at least in part, of the Internet, or for any other transaction which is prohibited by Federal Reserve Regulation GG - Unlawful Internet Gambling Enforcement Act of 2006. This notice serves as your disclosure for customers receiving their statements through Internet Banking. Conforming Loan Payment Notice All loan payments must be accompanied by the account number or payment coupon provided. Loan payments must be sent to Bank of Salem, 100 W. 4th Street, P.O. Box 459, Salem, MO. 65560. Loan payments may also be made in person to Bank of Salem bank personnel at any of our branch locations. Payments must be received by 3:00 PM at our 100 W. 4th Street location, or by 4:00 PM at our 1001 S. Main Street branch location Monday – Friday, except bank holidays, to be credited as of that date. Loan payments may also be made online through the bank’s secure online banking service. Payments made online must be made by 6:00 PM Central Time Monday – Friday, except bank holidays, to be credited as of the date made. All other payments received will be credited as of the next business day or as otherwise permitted by law.