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Electronic
Funds Transfer
Electronic
Banking Services - ACH Direct
Are you calling
our customer service department to transfer money between your corporate
accounts? Are you still using wire transfers to move money between
us and other financial institutions? Then you should consider using
our Electronic Cash Management Service. Our program will provide your
company with the convenience of transferring your funds electronically. You
can transfer funds 24 hours a day.
Your electronic
transfers are safe and secure. We use the newest technology in multi-level
password protection. All transfers are immediately verified and confirmed
by sending you a fax confirmation receipt; this provides you with the
highest possible level of security.
Our electronic banking
program also allows your company to perform many other electronic transactions
such as employee payroll direct deposit, state and federal tax payments,
child support and many other electronic transactions.
To start using our
24 hour Electronic Cash Management Service, complete the Authorization
Form and return it to any of our customer service representatives
Federal
Law requires that financial institutions which provide Automatic Teller
Machines (ATM) and Electronic Funds Transfers (EFT) services must publish
certain information with regard to these services. The procedures disclosed
here cover both the Customers' rights
and the Banks' rights as they are associated with EFT services.
Electronic
Funds Transfer Disclosure
Revised 10/06
I. CONSUMER’S LIABILITY FOR UNAUTHORIZED TRANSFERS
AND ADVISABILITY OF PROMPT REPORTING TELL US AT ONCE if
your card or personal identification Number (PIN) has been lost or
stolen or if you believe that an electronic fund transfer has been
made without your permission using information from your check. Your
liability for an unauthorized electronic transfer shall not exceed
$50.00 or the amount of the transfer that occurs before notice to
The State Bank Group, whichever is less, provided you notify The
State Bank Group within two (2) business days after you learn of
the loss or theft of your ATM card or PIN. If you fail to notify
State Bank Group within two business days after learning of your
loss or theft, your liability shall not exceed the lesser of $500.00
or the sum of: (A.) $50.00 or the amount of unauthorized electronic
fund transfers that occur before the close of the business day, whichever
is less, and (B.) the amount of unauthorized electronic fund transfers
that The State Bank Group establishes would not have occurred but
for the failure of you to notify State Bank Group within two business
days after you learned of the loss or theft of your card or PIN.
(C.) For SHAZAMChek card if you notify The State Bank Group within
48 hours of discovering your SHAZAMChek card lost or stolen you are
liable for nothing. If you notify The State Bank Group after 48 hours
you are liable for the first $50.00 of disputes.
II. HOW TO REPORT UNAUTHORIZED TRANSFERS
If you believe your card or PIN has been lost or stolen, unauthorized
transfers have been made or if your statement shows transfers that
you did not make, including those made by ATM card, PIN or other means,
tell us at once. You should contact us immediately as instructed at
the end of this disclosure. If you do not tell us within 60 days after
the statement was mailed to you, you may not get back any money you
lost after the 60 days if we can prove that we could have stopped someone
from taking the money if you had told us in time. If a delay in notifying
The State Bank Group was the result of extenuating circumstances, such
as extended travel or hospitalization, The State Bank Group will extend
the specified time period for a reasonable period of time. Check, cash
and other items are not received by us until they reach our processing
center for a particular item. Items received after 5:00 p.m. will be
processed on the next full banking day. Everyday is a banking day except
for Saturdays, Sundays and Federal holidays. If you use your card to
make deposits our records of the amount received shall be deemed current,
provided we receive the transaction and confirmed your original record.
You should also call the number or write to the address listed @ the
end of this disclosure if you believe a transfer has been made using
the information from your check without your permission.
III. TYPES OF AVAILABLE TRANSACTIONS
You may use your The State Bank Group SHAZAMChek/ATM Card for the following
transactions: (A.) deposits to your checking or savings account (B.)
withdrawal of cash from your checking or savings account (C.) transfer
of funds between your checking and savings account (D.) balance inquiries
to checking and savings (E) Point of sale purchases with SHAZAMChek
at all MasterCard locations. For security reasons, there are limits
on the amount you will be able to withdraw per business day with your
The State Bank Group card which will be established at the time your
card is issued to you. All deposits are accepted subject to verification
and funds deposited at the ATM will not be available for withdrawal
until the second business day after the day of your deposit. Electronic
Check Conversion - you may authorize a merchant or other payee to make
a onetime electronic payment from your checking account using the information
from your check to: (1) Pay for purchases (2) Pay bills Electronic
Returned Check Charge – You
may authorize a merchant or other payee to initiate an electronic funds
transfer to collect a charge in the event a check is returned for insufficient
funds
IV. CHARGES
Card charges are specified in The State Bank Group’s “Schedule
of Fees”. Customary account charges will continue to apply. The
State Bank Group does reserve the right to assess a reasonable fee for
replacement of a card or PIN (Personal Identification Number)
V. CONFIDENTIAL INFORMATION
We will disclose information to third parties about your account or the
transfers you make: (A.) where it is necessary for completing transfers
(B.) to comply with government agencies or court orders, or (C.) with
your written permission.
VI. RECEIPTS AND STATEMENTS
You will receive a receipt at the time you make any transaction using
our automated teller service. A periodic statement will be sent to
you on your account activity indicating transactions made on your card.
No transfers will be indicated if none were made in that statement
period.
Vll. STATE
BANK’S
LIABILITY
If we do not complete a transfer to or from your account on time or in
the correct amount according to our agreement with you, we will be
liable for your losses or damages. However there are some exceptions.
We will not be liable for instance: (A.) If through no fault of ours,
you do not have sufficient funds in your account to make the transfer
(B.) If, the automated teller machine where you are making the transfer
does not have enough currency. (C.) If the system was not working properly
and you knew about the (C.) break down when you stated the transfer (D.)
If circumstances beyond our control such as fire, flood or any other
natural disaster, prevent the transfer despite reasonable precautions
that we have taken. (E.) If your account is denied access because of
legal process against you or (F.) some similar reason. (G.) Or other
exceptions stated in our agreement with you.
Vlll. ERROR
RESOLUTION IN CASE OF ERRORS OR QUESTIONS ERROR RESOLUTIONS IN CASE
OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS, TELEPHONE
US AT (815) 728-8000 or write us as soon as you can at The
State Bank Group, 7526 Hancock Dr., P.O Box 350, Wonder Lake, IL 60097-0350.
If you think your statement or receipt is wrong or, if you need more
information about a transfer listed on the statement or receipt we must
hear from you no later than sixty (60) days after we send the FIRST statement
on which the problem or error appeared. (A.) Tell us your name and account
number (B.) Describe the error or the transfer about which you are unsure,
and explain as clearly as possible why you believe it is an error or
why you need more information (C) Tell us the dollar amount of the suspected
error. If you tell us orally, we may require that you send your complaint
or question in writing within ten (10) business days. We will tell you
the results of our investigation within ten (10) business days (20 days
for foreign initiated transactions) 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 for foreign initiated transactions) to investigate your
complaint or question. If we decide to do this we will re-credit your
account within ten (10) business days for the amount you think is in
error, so that you 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 ten (10) business
days, we may not re-credit your account. If our investigation reveals
no error on our part, we will furnish you with a written explanation
within three (3) business days after the close of our investigation.
If we re-credit your account while we are investigating the problem,
we will adjust the account after the investigation is finished and notify
you in writing of the adjustment.
IX. RIGHT OF STOP PAYMENT PROCEDURE
If you have told us in advance to make regular payments out of your account
you can stop any of these payments. Here’s how: Call
us at (815) 728-8000 or write us at P.O. Box 350 Wonder Lake, IL 60097-0350 in
time for us to receive the request three (3) business days or more
before the payment is scheduled to be made. If you call, we may require
you to put your request in writing and get it to us within 14 days
after you call. Charges will be based on The State Bank Group’s
current “Schedule
of Fees” LIABILITY FOR FAILURE TO STOP
PAYMENT OF PRE-AUTHORIZED TRANFER. If you order us to stop one of these payments three (3) business
days or more before the transfer is scheduled and we do not do so we
will be liable for our losses or damages.
X. ADDITIONAL INFORMATION
This card is issued by The State Bank Group to make the handling of routine
financial transactions faster and more convenient through the use of
our automatic teller machine (ATM). The card is subject to the following
terms and use of the card is acknowledgment of your agreement to abide
by these terms: (A.)The card contains a secret Personal Identification
Number (PIN) included within the magnetic stripe on the back of the
card. The card cannot be used to transfer funds in the ATM without
this PIN code. The PIN code when used in the ATM, is your personal
authorization for The State Bank Group to handle all transactions as
directed. (B.) It is your responsibility to safeguard the card and the PIN
code. In accordance with that responsibility you agree…(1.) that you
will not permit others to use the card or PIN code (2.) that you will
not record your PIN code on the card or keep the PIN code where it
may be found and used by other persons (3.) that you will use the card,
PIN code and ATM for the purposes authorized by The State Bank Group
and (5.) that you will not use or permit others to use this service for
unauthorized purposes. (A.) All card transactions are subject to receipt,
verification and collection by The State Bank Group (B.) The time of
a completion of transactions initiated through use of an ATM is subject
to the time interval The State Bank Group deems necessary to verify,
record, account for and otherwise process such transactions. (C.) This agreement
is subject to change at the discretion of The State Bank Group. You
will be notified by regular mail at least thirty (30) days before the effective
date of the change. (D.) Transactions made with your card, PIN code
and the ATM are subject to this agreement as well as the agreements
governing the accounts you may access with this service, in addition
transactions are subject to the Electronic Funds Transfer Act and regulations
implementing it, and all other applications laws, rules or regulations.
(E.) The card and PIN code remain the property of The State Bank Group.
The State Bank Group may in it’s discretion, terminate this agreement
and your right to use the card and PIN code. You agree to return the
card and PIN code upon demand by The State Bank Group. (F.) Three (3)
unsuccessful PIN (Personal Identification Number) tries will disable
the SHAZAM or SHAZAMChec card. (G) ACH debits may be refused. No more
than six (6) pre-authorized debits may be transacted per month on a
Money Market Account.
XI. ADDRESS INFORMATION
You can contact us at the following:
The State Bank Group
7526 Hancock Dr., P.O. Box 350
Wonder Lake, IL 60097-0350
It is better and faster to call (815) 728-8000 and ask for ATM services.
| NOTICE REGARDING ATM FEES
BY OTHERS: If you are using an automated
teller machine that is not operated by us, you may be charged a fee
by the operator of the machine and/or by an automated transfer network. |
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