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 This Agreement describes your rights and obligations as a user of the Online Banking Service or the Bill Pay Service ("Service" or "Services"). It also describes the rights and obligations of Security Savings Bank. Please read this Agreement carefully. As an authorized account holder you must abide by the terms and conditions of this agreement, and those provided to you at account opening, in order to use this Service.
By selecting the "I Accept" button below, you are (1) acknowledging your receipt of the information listed below, (2) agreeing that any contract you enter into with Security Savings Bank for the provision of certain Online Banking Services, may be in electronic form, (3) agreeing that certain information that may be delivered in connection with the Services may also be in electronic form, and (4) acknowledging that you are able to access such information electronically.
You are also acknowledging receipt of the following information and agree that:
* We may provide you with this Agreement and any revisions and amendments thereto in electronic form, and that, if you choose to accept the Agreement, you are consenting to enter into and are entering into an agreement electronically that will govern all future transactions you conduct using the Service.
* We may provide you revisions and amendments to the Agreement and such other information, including but not limited to information under Regulation E and under other applicable banking or financial services laws or regulations in connection with the Service, electronically as a part of the Agreement or otherwise as a part of the Services. While you may print and retain a copy of the Agreement or any information provided to you in relation to the Service, we only provide these documents electronically.
* You have a right at any time to withdraw, without service charges, your consent to receive information electronically. However, because the Agreement and the information are provided only in electronic format, your withdrawal of consent will terminate all the Services.
* If you wish to withdraw consent to receive information electronically, to terminate the Services, or to update your information such as a change of address, or e-mail address, you may visit your local Security Savings Bank office or write to us at:
Security Savings Bank
Attention: Online Banking Support
PO Box 10069
Southport NC 28461
"Online Banking" is the Internet-based service providing access to your account(s) under the terms set forth in this Internet Banking Services Agreement and Disclosures
"Online Account" is your Security Savings Bank account from which you will be conducting transactions using a Service.
"Bill Pay" is the Internet-based service providing payments to third parties from your designated Security Savings Bank account(s).
"Bill Pay Account" is your checking account with Security Savings Bank from which you are initiating a Bill Pay.
"Business Day" refers to Monday through Friday, excluding Federal holidays. All Online transaction requests received after 7:00 p.m. EST, or on a non-Business Day, will be processed immediately, but will not appear in the online history until the following Business Day.
"Password" is a series of numbers and/or letters that you select after the initial sign-on, that establishes your connection to the Service. Security Savings Bank will provide you with a password for use during the initial sign-on process.
"Payment Initiation Date" is the date you enter into Online Banking when setting up a bill payment to indicate the date on which Security Savings Bank will process your scheduled bill payment.
"Time of day" references are to Eastern Standard Time.
"We," "us" "our" or "Security Savings Bank " refers to Security Savings Bank and its divisions, which offer the Services provided under this Agreement and hold the accounts accessed by the Services.
Security Savings Bank will provide on-line instructions describing how to use the Online Banking Service or Bill Pay Service. To gain access to this Service you will need your Access ID and your Password.
The Services are generally available 24 hours-a-day, 7 days a week, except during special maintenance and upgrade periods, which routinely are scheduled between 12:00 a.m. and 5:00 a.m. Monday mornings.
The safety of our customers' accounts and account information is of paramount importance to Security Savings Bank. We go through great lengths to protect confidentiality and the security of your account, and urge you to do the same. You agree not to allow anyone to gain access to the Services or to let anyone know your Password, Access ID or account numbers used with the Services. You agree to assume responsibility for all transactions initiated through the Services with your Security Savings Bank Access ID, up to the limits allowed by applicable law. While Security Savings Bank continues to provide our customers with the level of on-line security we believe necessary and appropriate, customers who share their Access IDs and Passwords are giving up the full benefit of our security measures and legal protections to which they may be entitled. No Security Savings Bank representative will ever call and ask for your Access ID or User Password.
If your Access ID and/or Password has been lost or stolen, call Security Savings Bank immediately at 1-910-457-5246, between 8:30 am and 5:00 pm Monday through Friday. Telephoning Security Savings Bank is the best way of minimizing your losses. You may also restore the security of your Service by immediately changing your Password. If you believe your Access ID and/or Password has been lost or stolen and you notify us within two Business Days after you learn of the loss or theft, you can lose no more than $50 if someone uses your Access ID and Password to conduct unauthorized electronic fund transfers without your permission. If you do NOT notify us within two Business Days after you learn of the loss or theft of your Access ID and/or Password, and we can prove we could have stopped someone from using your Access ID and Password to conduct unauthorized electronic fund transfers without your permission if you had told us, you could lose as much as $500.
If someone to whom you have granted authority to use your Access ID and Password exceeds such authority, you are fully liable for all transfers and payments made by such persons. You agree to cooperate with us in the investigation and prosecution of any person who has obtained and used your Access ID and Password without your authorization.
* Transfer funds among your linked checking, savings, money market, loan and line of credit accounts.
* Initiate bill payments.
NOTE: Because Federal regulations require Security Savings Bank to limit transfers (including Online Banking transfers), the following limitations apply:
∙ Statement Savings and Security Plus Accounts – Transfers to another account or to third parties by preauthorized, automatic, computer or telephone transfer are limited to six per monthly statement period with no transfers by check, draft, debit card, Bill Pay, or similar order to third parties.
∙ Money Market Investment Account-- Transfers to another account or to third parties by preauthorized, automatic, computer or telephone transfer are limited to six per monthly statement period with no more than three (3) by check, draft, Bill Pay, debit card, or similar order to third parties.
New services may be introduced for Online Banking from time to time. Security Savings Bank will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.
* Business Payees-- any business, merchant, or professional that generates a bill or invoice for products or services provided to you on your behalf and that has an address we can verify.
* Individual Payees-- payments made to individuals, family, or friends for non-business purposes.
You may set up the following types of bill payments:
* Single Payments-- a payment to be made to a payee one time, or
* Recurring Payments-- payments of fixed amounts to a single payee at recurring intervals (e.g., weekly, bi-weekly, monthly, bi-monthly, quarterly, annually or semi-annually).
All payments you make will be deducted from the account that you designate as your Bill Pay Account on the Payment Initiation Date. Any payments you wish to make through this Service must be payable in U.S. dollars to a payee located in the continental United States. We reserve the right to restrict or limit the number of transactions processed through this Service from time to time. Further, we reserve the right to check your credit history at enrollment and obtain follow up credit history reports at a later date.
You should not use the Bill Pay Service to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments (e.g., alimony or child support payments). Payments, additional fees, fines, penalties or other losses associated with payments to these payees that are delayed or improperly addressed or credited are your sole responsibility.
Funds must be available in your Bill Pay Account, including overdraft lines of credit, on the scheduled Payment Initiation Date. If the Payment Initiation Date falls on a non-Business Day (i.e., Saturday, Sunday or holiday), funds must be available in your Bill Pay Account the following Business Day (i.e., Monday). After funds are withdrawn from your Bill Pay Account to make a payment, we may make the payment either by transferring funds electronically to the payee or by mailing the payee a check.
If your Bill Pay Account does not have sufficient available funds to make a payment as of the Payment Initiation Date, the payment will be canceled and no further attempt will be made by Security Savings Bank to make the transfer or payment. Security Savings Bank shall have no obligation or liability if it does not complete a transfer or payment because there are insufficient available funds in your account to process a transaction. Security Savings Bank will attempt to notify you by U.S. Postal Mail or email of the NSF. In all cases, you are responsible for either making alternate arrangements for the payment or rescheduling the payment through the Bill Pay Service. In the case of recurring payments, only the payment currently scheduled will be canceled. Recurring payments scheduled for future dates will not be affected. In the event you have sufficient funds to make some, but not all, of the bill payments scheduled for a particular payment date, Security Savings Bank may use such method as Security Savings Bank, in its sole discretion, may elect in determining which payments to complete.
You must schedule the Payment Initiation Date at least four (4) Business Days before any Payment Due Date (that is, the due date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period). If you do not, you will be fully responsible for all late fees, finance charges or other action taken by the payee. If the actual due date falls on a non-Business Day, you must select a scheduled payment date that is at least one (1) Business Day prior.
If the session during which you schedule a payment or transfer ends by 7:00 p.m. EST, Security Savings Bank will be considered to have received it on that day. Otherwise, it will be considered received the following Business Day. For all entries made using the service, the time recorded by the Online Banking service controls.
You may cancel or change a scheduled payment by using the payment screens in the Bill Pay Service. Payments must be changed or canceled using the Bill Pay Service prior to 7:00 p.m. EST on the Business Day the transaction will be initiated. If you ask us to cancel a payment after it is issued and we agree to do so, we will charge you a stop payment fee to stop the bill payment. Stop payment orders, whether oral, written, or electronic, will be in effect for a period of six months. If requested by Security Savings Bank, you will confirm any stop payment order in writing within 14 days. After six months, any stop payment will terminate and must be renewed to continue in effect. Security Savings Bank may pay any item that is presented following the lapse of any stop payment order.
* You must properly schedule the payment to be initiated on a date at least four (4) Business Days prior to the bill's actual due date. This means that you must initiate a Single Payment before 7:00 p.m. Eastern Standard Time on a Business Day at least four (4) days prior to the bill's actual due date. For recurring payments, this means that you must allow additional time for months in which weekends or holidays reduce the number of Business Days between the recurring Payment Initiation Date and the bill's actual due date.
* You must provide us with the correct Payee name, address, phone number and account information, and with the correct payment amount.
* On the Payment Initiation Date your checking account must contain sufficient available funds, including overdraft lines of credit, to complete the payment.
* The late payment fee or penalty, or the method of its calculation, must be published by the payee prior to the bill's actual due date.
* The Service will not process any payments less than $1.00 or greater than $99,999.99
* You can schedule a Payment Due Date up to a year in advance.
You will continue to receive your regular account statement either monthly or quarterly, depending on the type of account.
Security Savings Bank
Attention: Online Banking Support
PO Box 10069
Southport NC, 28461
If you do not notify Security Savings Bank within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if Security Savings Bank had been notified in time.
Security Savings Bank
Attention: Online Banking Support
PO Box 10069
Southport NC, 28461
We must hear from you at the specified telephone number or address no later than sixty (60) calendar days after we sent you the first statement on which the problem or error appeared. We will need:
* Your name and account number,
* A description of the error or the transfer in question, and an explanation concerning why you believe it is an error or need more information,
* The dollar amount of the suspected error, and
* The date on which it occurred.
If the report is made orally, we may require that you send the complaint or question in writing within ten (10) Business Days from your initial contact. We will notify you with the results of the investigation within ten (10) Business Days after you contact us and will correct any error promptly. If more time is needed, however, we may, at our sole discretion, take up to 45 calendar days (90 days if the transfer involved a new account) to investigate a complaint or question. If this occurs, we will credit your account within 10 Business Days (20 business days if the transfer included a new account) for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation. If your complaint or question is not received in writing within ten (10) Business Days from your original contact, we may not credit your account until the investigation is completed.
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 deposit account with us before this account opened.
We will tell you the results within 3 business days after completing our investigation. If we determined that no error occurred, we will send you a written explanation. You may request copies of the documents that we used in the investigation.
You agree that Security Savings Bank may respond to you by e-mail with regard to any claim of unauthorized electronic fund transfer related to the Service. Any such electronic mail sent to you by Security Savings Bank shall be considered received within three (3) Business Days of the date sent by Security Savings Bank, regardless of whether or not you sign on to the Service within that time frame.
Security Savings Bank agrees to make reasonable efforts to ensure full performance of Online Banking. Security Savings Bank will be responsible for acting only on those instructions sent through Online Banking, which are actually received, and cannot assume responsibility for circumstances over which the bank has no direct control. This includes, but is not limited to, the failure or malfunctions in communication facilities, which may affect the accuracy or timeliness of messages you send. Security Savings Bank is not responsible for any losses should you give incorrect instructions, or if your payment instructions are not given sufficiently in advance to allow for timely payment or delays in mail service.
Any information you receive from Security Savings Bank is believed to be reliable. However, it can only be provided on a best-efforts basis for your convenience and is not guaranteed. Security Savings Bank is not liable for any deficiencies in the accuracy, completeness, availability, or timeliness of such information, or for any investment or other decision made using this information.
Security Savings Bank is not responsible for any fees incurred for Internet access, or for any computer virus or related problems that may be attributable to services provided by any Internet access service provider.
You are responsible for obtaining, installing, maintaining, and operating all computer hardware and software necessary for performing Online Banking. Security Savings Bank will not be responsible for any errors or failures from the malfunction or failure of your hardware or software.
The limit of Security Savings Bank 's liability shall be as expressly set forth herein. Under no circumstances will Security Savings Bank be liable in contract, tort, or otherwise for any special, incidental, or consequential damages, whether or not foreseeable. By consenting to use the Services, you agree to waive any and all rights to any of the aforesaid, and you acknowledge that the limit of your remedy is as otherwise expressly set forth herein.
* Complete an Electronic Fund Transfer as properly requested, or
* Cancel an Electronic Fund Transfer as properly requested.
However, we will not be responsible for your losses if:
* Through no fault of Security Savings Bank, you do not have enough money in your account to make the transfer or payment,
*Through no fault of Security Savings Bank, the transaction would have caused you to exceed your available credit,
* Circumstances beyond our control (e.g., fire, flood, power outage, mail delivery delays, equipment or technical failure or breakdown) prevent the transfer, despite reasonable precautions that we have taken,
* There is a hold on your account, or if access to your account is blocked in accordance with banking policy,
* Your funds are subject to legal process or other encumbrance restricting the transfer,
* Your transfer authorization terminates by operation of law,
* You believe someone has accessed your accounts without your permission and you fail to notify Security Savings Bank immediately,
* You have not properly followed the scheduling instructions, included in this Agreement, to make a transfer or the Payee refuses the Service,
* Any payee fails to correctly account for or credit the payment in a timely manner,
* We have received incomplete or inaccurate information from you or a third party involving the account or transfer,
* There are changes to the payee's address or account number (unless you have advised us of the change within four (4) Business Days in advance),
* We have a reasonable basis for believing that unauthorized use of your Password or account has occurred or may be occurring, or if you default under this Agreement, the Deposit Account Agreement, a credit agreement, or any other agreement with us, or if we or you terminate this Agreement,
* The Service, your PC, or modem is not working properly and you knew about the malfunction when you started the transfer or payment, or
* You have not properly followed the instructions for using the Service.
There may be other exceptions stated in this agreement and in other agreements with you. In no event shall we be liable for damages in excess of your actual loss due to our failure to complete a transfer, and we will not be liable for any incidental or consequential damages.
If any of the circumstances listed above shall occur, we shall assist you with reasonable efforts in taking appropriate corrective action to reprocess the transactions that may not have been completed or to correct incorrect transactions that have been processed.
If you send Security Savings Bank an electronic mail message through the Service, Security Savings Bank will be deemed to have received it on the following Business Day. E-mails will be answered within a reasonable timeframe.
Do not rely on electronic mail if you need to communicate with Security Savings Bank immediately, (e.g., if you need to report an unauthorized transaction from one of your accounts, or if you need to stop a payment that is scheduled to occur).
You agree that Security Savings Bank may respond to you by electronic mail with regard to any matter related to the Service, including responding to any claim of unauthorized electronic fund transfers that you make. Any such electronic mail sent to you by Security Savings Bank shall be considered received within three (3) days of the date sent by Security Savings Bank, regardless of whether or not you sign on to the Service within that time frame.
In addition to this Agreement, you and Security Savings Bank agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking service or the Bill Pay Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures received by you when you open your accounts at Security Savings Bank, including the charges that may be imposed for electronic fund transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule at the end of this Agreement. We will automatically deduct any fees related to this Service from your Bill Pay Account each month. All terms and conditions of the disclosures provided to you at account opening, including but not limited to, the Truth-in-Savings disclosure, the Electronic Fund Transfers disclosure, and the Terms and Conditions of Your Account apply to this Service.
Security Savings Bank may modify the terms and conditions applicable to either Service from time to time upon mailing or delivering a notice of the modifications to you at the address shown on our account records, and the revised terms and conditions shall be effective at the earliest date allowed by applicable law. We may send any notice to you via electronic mail and you will have been deemed to have received it three (3) days after it is sent. We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice.
Security Savings Bank
Attention: Online Banking Support
PO Box 10069
Southport NC, 28461
You are responsible for complying with all the terms of this Agreement and with the terms of the agreement governing the deposit accounts which you access using electronic banking services. We can terminate your Online Banking privileges (including the Bill Pay Service) under this Agreement without notice to you for any reason; or if you do not pay any fee required by this Agreement when due, if you do not comply with the Agreement governing your deposit or loan accounts, or your accounts are not maintained in good standing. We will promptly notify you if we terminate this Agreement or your use of the services for any other reason.
If you are not paying a monthly service charge for the Service, we may convert your account to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive 180 day period. If your account is considered inactive, you must contact us to have the Service activated before you will be able to schedule any transaction through the Service.
To cancel the Online Banking and/or Bill Pay Service, you must notify Security Savings Bank. Your notification should include your name, address and the effective date to stop the service(s). When Bill Pay is terminated, any pre-scheduled bill payments made through Online Banking will also be terminated. Your final charge for the Bill Pay Service will be assessed at the end of your statement cycle. You may notify Security Savings Bank by one of the following methods:
* By initiating a customer inquiry through our Web site
* By calling 1-910-457-5246
* By writing a letter and sending it to:
Security Savings Bank
Attention: Online Banking Support
PO Box 10069
Southport, NC 28461
This Agreement is governed by the laws of North Carolina and applicable federal law(s).
Security Savings Bank offers the benefits and convenience of the Online Banking Service to you at no monthly charge. If your designated Bill Pay account is a Security Gold or Senior Checking Account, the Bill Pay Service is provided at no monthly charge. If your designated Bill Pay account is a Regular, NOW, Super NOW or Free Checking Account, Bill Pay Services will be $4.95 per month and deducted from your Bill Pay account. Bill Pay charges are in addition to any other monthly service fees, transaction fees or miscellaneous fees that apply to your account as described in our “Checking and Savings Plans” brochure.
These fees are subject to change. Security Savings Bank will notify you in writing regarding any fee changes at least thirty (30) days in advance of the effective date of these changes.
Last Revised: December 16, 2004
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