Online Banking Agreement
General Description of Agreement
State Bank & Trust Co., Dallas ("SBT") will offer applicant ("Customer") certain Online Banking Services through an Internet based program for Banking and information services ("SBT Online"). SBT has entered into an agreement with Jack Henry & Associates ("Licenser"), pursuant to which Licenser will furnish, support and service the Internet based Banking Product ("Product") used by SBT Online.
This Agreement, ("Agreement") which includes the Consumer and Sole Proprietor and/or Business Online Banking Application, is a contract, which establishes the rules governing electronic access to Customer's Accounts ("Account") at SBT through SBT Online. By using SBT Online, Customer accepts all the terms and conditions of this Agreement.
Please read it carefully.
The terms and conditions of the deposit agreements and disclosures for each of the Customer's Accounts as well as Customer's other agreements with SBT, such as loans, continue to apply notwithstanding anything to the contrary in this Agreement.
This Agreement is also subject to applicable federal laws and the laws of the State of Texas (except to the extent this Agreement can and does vary such rules or laws). If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. The headings in this Agreement are for convenience or reference only and will not govern the interpretation of the provisions. Any waiver (express or implied) by either party of any default or breach of this Agreement must be in writing and shall not constitute a waiver of any other or subsequent default or breach. Customer may not assign this Agreement. This Agreement is binding upon Customer and SBT's successors and assigns. Certain obligations of the parties pursuant to this Agreement shall survive termination, cancellation or expiration of this Agreement. This Agreement together with the Consumer, Sole Proprietor and/or Business Online Banking Application constitutes the entire agreement between Customer and SBT with respect to the subject matter hereof and there are no understandings relative hereto which are not fully expressed herein.
The source code, listings, and any accompanying support materials and documentation supplied under this Agreement, as well as the ideas and concepts incorporated in such items, are confidential to and trade secrets of SBT and Licenser ("Confidential Information"). Customer agrees to provide Confidential Information only to those who are required to know of its existence. Customer further agrees to take all other actions necessary or appropriate to preserve the confidentiality of the Confidential Information and to protect and secure SBT Online in a manner consistent with SBT and Licenser's rights. Except as specifically provided in this Agreement, Customer shall not publish, disclose, display or otherwise make available any Confidential Information without the advance written consent of SBT and Licenser. The provisions of this section will survive the termination of this Agreement.
Customer agrees that SBT Online is proprietary with respect to SBT and Licenser, and that Customer will not, under any circumstance, transmit a transaction via SBT Online to any financial institution or other entity other than SBT for processing. Customer agrees that any breach of this covenant will constitute an immediate and material breach of this Agreement. Customer further agrees to indemnify and hold harmless SBT from any and all liabilities, claims, and damages resulting from Customer's breach of this section.
SBT Online Access Requirements
To use SBT Online, Customer must have at least one Account at SBT, access to Internet service and the appropriate hardware/software systems. Once SBT has received Customer's electronic Consumer, Sole Proprietor and/or Business Online Banking Application, and verified Account information, SBT will send by postal mail or e-mail*, the assigned Login ID. SBT Online can be used to access only SBT Accounts, to which Customer has signature authority. Accounts can be added or deleted from the Consumer, Sole Proprietor and/or Business Online Banking Application by contacting SBT. Access to Customer's Accounts through SBT Online will be based upon the identification of SBT's records of the Accounts specified in the Consumer, Sole Proprietor and/or Business Online Banking Application. SBT undertakes no obligation to monitor transactions via SBT Online to determine that they are made on behalf of the Accountholder.
*E-mail is unsecured and privacy cannot be ensured.
Hours of Access
SBT Online can be accessed seven days a week, twenty four hours a day, although some or all SBT Online services may occasionally not be available due to emergency, technical difficulties or scheduled system maintenance.
Customer understands the important role in preventing misuse of Accounts through Online Banking and agrees to promptly examine the periodic paper statement and/or account information through SBT Online for each Account as soon as it is received. Customer agrees to protect the confidentiality of Accounts and Account number, and personal identification information, such as driver's license number and social security number. Customer understands that personal identification information by itself, or together with information related to Accounts, may allow unauthorized access to Customer's Account. Customer's Password and Login ID are intended to provide security against unauthorized entry and access to Customer's Accounts.
Data transferred via SBT Online is encrypted in an effort to provide transmission security and SBT Online utilizes identification technology to verify that the sender and receiver of SBT Online transmissions can be appropriately identified by each other. Notwithstanding our efforts to insure that the SBT Online system is secure, Customer acknowledges that the Internet is inherently insecure and that all data transfers, including electronic mail, occur openly on the Internet and potentially can be monitored and read by others. SBT cannot and does not warrant that all data transfers utilizing SBT Online, or e-mail transmitted to and from SBT, will not be monitored or read by others.
SBT or its legal representatives will never ask Customer for their Password or PIN through e-mail, postal mail, or phone calls. Any such requests should be subject to immediate suspect or wrongful intent by the requestor and promptly reported to SBT.
For security purposes, Customer is required to change the password upon initial login to SBT Online. Customer determines what password will be used and the identity of that password is not communicated to SBT. Customer agrees that SBT is authorized to act on instructions received under Customer's password. Customer accepts responsibility for the confidentiality and security of the password and agrees to change the password regularly or as required by SBT. Upon three unsuccessful attempts to use Customer's password, access to SBT Online will be denied. To re-establish authorization to use SBT Online, Customer must contact SBT at 214-987-7400, Monday through Friday 8:00 am – 5:00 pm.
SBT recommends that Customer create a password that utilizes both upper and lower case alpha and numeric characters for purposes of security. Customer's password should not be associated with any commonly known personal identification, such as social security numbers, address, date of birth, names of children, or other easily identifiable dictionary terms and should be memorized rather than written down.
Change in Terms
SBT may change any term of this Agreement at any time. If the change would result in increased fees for any SBT Online service, increased liability for Customer, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, SBT agrees to give at least 30 days notice prior to the effective date of any such change, unless an immediate change is necessary to maintain the security of an Account or SBT's electronic funds transfer system. Any required notice of change in terms will be posted on SBT's web site or forwarded to Customer by e-mail or by postal mail. If advance notice of the change is not required, and disclosure does not jeopardize the security of the Account or SBT's electronic funds transfer system, SBT will notify Customer of the change in terms within 30 days after the change becomes effective. Customer's continued use of any or all SBT Online services indicates Customer's acceptance of the change in terms. SBT reserves the right to waive, reduce or reverse charges or fees in individual situations. Customer acknowledges and agrees that changes to fees applicable to specific Accounts are governed by the applicable deposit agreements and disclosures currently in effect.
Customer Right to Terminate
Customer may cancel SBT Online service at any time by providing SBT written notice by postal mail, e-mail or fax. Access to SBT Online will be suspended within 3 business days of receipt of request. Customer will remain responsible for all outstanding fees and charges incurred prior to the date of cancellation. Upon termination of SBT Online, any unprocessed scheduled payments will be cancelled.
SBT's Right to Terminate
Customer agrees that SBT may terminate this Agreement:
Fees and Charges
Customer agrees to pay the fees and charges for Customer's use of SBT Online services as set forth by SBT, which may be amended from time to time. Customer is also responsible for any telephone and Internet service fees incurred in connection with the use of SBT Online.
Customer will not receive a separate SBT Online statement. Transfers to and from Accounts using SBT Online will appear on the respective periodic statements of Customer's Account.
SBT Basic Online Banking Services
To use SBT Online customer must have:
You can choose to add the Bill Payment Service to the SBT Online Basic Service and:
SBT Online Banking Bill Payment Processing
Bill payments made through SBT Online Banking Bill Payment services are processed in one of two ways:
SBT hereby publishes the following terms and conditions for Customer's use of bill payment services via SBT Online. SBT reserves the right to modify these terms and conditions at any time, effective upon publication. Customer's use of bill payment services constitutes agreement to these terms and conditions and any modifications thereof.
Disclosure of Account Information and Transfers
Customer understands that information about Customer's Accounts or the transfers made may automatically be disclosed to others. For example, tax laws require disclosure to the government of the amount of interest earned, and some transactions, such as large currency and foreign transactions, must be reported to the government. SBT does not disclose any nonpublic personal information to anyone, except as permitted by law. SBT restricts access to nonpublic personal information to those employees who need to know that information to provide products or services. SBT maintains physical, electronic, and procedural safeguards that comply with federal standards to guard nonpublic personal information.
Posting of Transfers
Transfers initiated through SBT Online before 6:00 p.m. (CST) each Monday through Friday ("Business Day") (excluding holidays) are posted to Customer's Account the same day. Transfers completed after 6:00 p.m. (CST) each Business Day, (excluding holidays), will be posted on the next Business Day. SBT Online identifies transfers based upon the Login ID of the user who made the electronic transfer. Customer understands and acknowledges that SBT Online will reflect transfers made by multiple users from the same Account if different Login IDs are used. Customer agrees to communicate with any other persons with authorized access to Customer's Accounts concerning any transfers from Customer's Accounts in order to avoid overdrafts.
Limits on Amounts and Frequency of SBT Online Transfers
The number of transfers from Accounts, and the amounts which may be transferred, are limited pursuant to the terms of the applicable deposit agreement and disclosure for those Accounts. If a hold has been placed on deposits made to an Account from which Customer wishes to transfer funds, Customer cannot transfer the portion of the funds held until the hold expires.
SBT's Liability for Failure to make a Transfer
If SBT does not complete a transfer to or from Customer's Account on time or in the correct amount, which Customer has properly instructed, SBT will be liable only for the amount of the funds, which were not transferred. However, there are some exceptions for which SBT will NOT be liable:
Customer Liability for Unauthorized Transfers
CONTACT US AT ONCE if Customer's Password has been lost, stolen, used without authorization, or otherwise compromised, or if someone has transferred or may transfer money from Customer's Accounts without permission. An immediate telephone call to SBT is the best way to reduce any possible losses. If SBT is contacted within 2 business days after discovery of the loss, theft, compromise, or unauthorized use of password, loss can be no more than $50.00 if Customer's Password was used without permission.
If SBT is NOT contacted within 2 business days after discovery of the loss, theft, compromise, or unauthorized use of password, and SBT can prove the transaction could have been stopped if SBT had been notified, the loss could be as much as $500.00.
Also, if Customer's periodic paper statement shows transfers that Customer did not make, contact SBT at once. If SBT is not notified within 60 days after the statement was mailed, Customer may not recover money lost through transactions made after the 60th day if SBT can prove the loss could have been stopped if SBT had been notified in time.
In Case of Errors or Questions about Electronic Transfers
Contact SBT as soon as possible, if you think Customer's paper statement or an SBT Online Account is wrong, or if more information is needed about a transfer listed on the paper statement or an SBT Online Account. SBT must be notified no later than 60 days after the FIRST paper statement upon which the problem or error appeared was mailed. SBT will need:
If request is made by telephone or by email, SBT may require the complaint or question in written form by postal mail or fax within 10 business days.
SBT will communicate the results of the investigation within 10 business days after we receive notification and will correct any error promptly. If more time is needed, SBT may take up to 45 days to investigate the complaint. If SBT decides to do this, provisional credit may be provided to the Account within 10 business days for the suspected error amount. If SBT requires the complaint or question in writing and does not receive it in written form within 10-business days provisional credit may not be issued.
If no error was detected, a written explanation will be sent within 3 business days after investigation is completed. Copies of the documents used in the investigation will be provided upon request. If provisional credit was issued, a corresponding debit will be made from the Account.
Overdrafts (Order of Payments, Transfers and other Withdrawals)
If Customer's Account has insufficient funds to perform all electronic fund transfers requested for a given business day, then:
**Paper drafts may be returned to payee if funds are not available when the draft is presented for payment.
Stop Payment Requests
Customer may initiate stop payment requests online via SBT Online only for paper checks written on Customer's SBT Accounts. ACH Stop Payments are NOT allowed online.
Online Stop Payment requests are processed when actually received by SBT in proper form. The stop payment must precisely identify the name of the payee, the check number, the amount and date of the check and remarks.
If stop payment is requested online or by telephone, SBT may also require a request in writing within 14 days. Customer will incur stop payment charges as disclosed in the current fee schedule for the applicable Account.
A stop payment request will expire and become null and void six (6) months from the date received, unless revoked or released prior to that time or unless renewed for additional periods of time. Renewals will be for the same time period as the original stop payment. Reasonable notification of stop payment must be given to SBT prior to the item being presented. SBT and Customer agree that reasonable time is at least one business day. Customer agrees to hold SBT harmless and indemnify it against any loss; expense or cost incurred resulting from SBT's refusal to pay any item upon which Customer places a stop payment request.
Communication between Customer and SBT:
Disclaimer of Warranty and Limitations of Liability
SBT makes no warranty of any kind, express or implied, including any implied warranty of merchantability or fitness for a particular purpose, in connection with the SBT Online services provided to you under this Agreement. SBT does not and cannot warrant that SBT Online will operate without errors, or that any or all SBT Online services will be available and operational at all times. Except as specifically provided in this Agreement, or otherwise required by law, Customer agrees that SBT's officers, directors, employees, agents or contractors are not liable for any indirect, incidental, special or consequential damages under or by reason of any services or products provided under this Agreement or by reason of access to SBT Online, including loss of profits, revenue, data or use by Customer or any third party, whether in an action in contract or tort or based on a warranty.
Customer acknowledges that an online password will be provided that will allow access, transfer and bill paying capabilities (if applicable). Customer further acknowledges that SBT will not monitor the use of this password and therefore will not be liable for any unauthorized use of the password. Customer hereby and forever releases and agrees to hold SBT harmless for the unauthorized use, misuse or mistaken use of the online password provided. This Release shall be in addition to all terms and conditions stated on the Deposit Account Agreement as amended from time to time by SBT.
Customer understands SBT or its agent will use reasonable efforts to ensure payments reach creditors on time but cannot guarantee the time a payment will be posted by a creditor. Customer also understands SBT or its agent will not be responsible for any loss or penalty incurred due to the lack of sufficient funds or other conditions that may prevent the withdrawal of funds from Customer Account.
All of SBT's obligations, responsibilities and covenants under this Agreement, whether express or implied, shall be suspended if at any time SBT's compliance is prevented or hindered by, or is in conflict with, any federal or state law, regulation or rule, the order of any court of competent jurisdiction, any act of God or the public enemy, war, epidemic, strike, lockout, riot, weather condition, equipment failure or malfunction, material shortage, electric power disruption or shortage, communication failure or other condition or circumstance not wholly controlled by SBT.
Customer Acknowledgement and Agreement
Customer acknowledges that it has read and hereby approves all Terms and Conditions as set forth in this Agreement as well as the fees related to this product.
Customer also acknowledges a copy of the Regulation E Disclosure Statement has been provided at Account opening.
Customer further acknowledges this Agreement is being submitted by an Individual who has authority to open Accounts as established by proper documentation on file with SBT.
By submitting the State Bank & Trust Consumer, Sole Proprietor and/or Business Online Banking Application, Customer, it's owners and heirs agree to be bound by all terms and conditions set forth in the Deposit Agreement as amended from time to time between SBT and Customer. (To obtain a copy of the Deposit Agreement please contact SBT at 214-987-7400).
Customer agrees to the Terms and Conditions of State Bank & Trust SBT Online Access Agreement and Consumer, Sole Proprietor and/or Business Online Banking Application.
Customer understands and approves all Terms and Conditions as set forth in this Agreement as well as fees related to this product.