Online Banking Agreement & Disclosure
Before you can register for Security State Bank Online Banking you must read and agree to the following.
Acknowledgment of this disclosure is accepted when you click on the "I Agree" link below.
Security State Bank Online Banking Agreement & Disclosure
Please read this agreement carefully and keep a copy for your records.
I/We understand that I/we am/are the only individual(s) authorized to use Online Banking and that use of Online Banking signifies agreement to the terms and conditions set forth in this Online Banking Agreement & Disclosure which has been furnished to me/us. I/we understand that such services will be linked to my/our accounts as indicated in my enrollment. I/we acknowledge that I/we have read this Disclosure and agree to be legally bound by the terms and conditions of this Disclosure as well as any changes made from time to time. I/we understand that the provision of the Online Banking Services is our sole discretion. I/we understand account security is controlled by the Online Banking User ID assigned to me/us. I/we will protect my/our Online Banking User ID and Password and will hold the bank harmless from any unauthorized use. Any information downloaded by me/us becomes my/our property and responsibility.
1. The Service
This agreement is in consideration of the Online Banking service ("Service") to be provided by Security State Bank ("the Bank") to its customers. In this agreement, "the Customer" refers to the person(s) or companies subscribing to or using the Service. The Customer may use a Personal Computer ("PC") through an Internet connection to obtain account balances and transaction information. The Customer may also use its PC to obtain statements on its accounts and to transfer money between its accounts. However, transfers from the Customerís savings and Money Market accounts are considered pre-authorized transfers, and federal regulations limit pre-authorized transfers to six (6) per statement cycle.
2. Your User ID and Password
Each individual who has access to Security State Bank Online Banking, including each individual named on joint accounts or corporate accounts, must designate a User ID and Password.
The Bank may accept as authentic any instructions given to it through the use of the Customerís User ID and Password. The Customer agrees to keep its User ID and Password secret and to notify the Bank immediately upon the Customer discovering its User ID or Password is lost or stolen or if the Customer believes someone else has discovered its User ID or Password. The Customer agrees that if it gives its User ID or Password to someone else, the Customer is authorizing them to act on its behalf, and the Bank may accept any instructions they give the Bank to make transfers or otherwise use the Service. Online Banking Service enables the Customer to change its Password. The Bank may be liable for certain security breaches to the extent required by applicable law and regulation; however, the Bank does not assume any other liability or otherwise guarantee the security of information in transit to or from the Bankís facilities. The Bank reserves the right to (1) monitor and/or record all communications and activity related to the Service; and (2) require verification of all requested transfers in the manner the Bank deems appropriate before making the transfer (which may include written verification by the Customer). The Customer agrees that the Bankís records will be final and conclusive as to all questions concerning whether or not the Customerís User ID or Password was used in connection with a particular transaction. If any unauthorized use of the Customerís User ID or Password occurs, the Customer agrees to (1) cooperate with the Bank and appropriate law enforcement authorities in identifying and prosecuting the perpetrator; and (2) provide reasonable assistance requested by the Bank in recovering any unauthorized transfers of funds.
3. Recurring Transfers
Recurring transfers are those made for the same amount and are made weekly, bi-monthly, monthly, etc. Once started, recurring transfers will be made automatically until the Customer notifies the Bank to stop or cancel the service by notifying the Bank in writing at least three business days before the scheduled date of the transfer.
All payments and transfers made with the Service will appear on the Customerís monthly account statement. The amount and date of the transaction will be shown for each transaction made through the Service during that month.
The Customer is solely responsible for the equipment (including, in the case of Online Banking, the Customerís personal computer and software) it uses to access the Service. The Bank is not responsible for errors or delays or the Customerís inability to access the Service caused by the Customerís equipment. The Bank is not responsible for the cost of upgrading the Customerís equipment to stay current with the Service, nor is the Bank responsible, under any circumstances, for any damage to the Customerís equipment or the data resident thereon.
6. Business Days
The Service is available 24 hours a day, seven days a week, except during maintenance periods, for the scheduling of transfers. Transfers will be completed only on business days (Monday through Friday Ė holidays not included). Transfers submitted after 6 pm Central Standard Time will be posted the next business day.
The Bank may disclose information to third parties about the Customerís account or the transactions made by the Customer:
- Where it is necessary for completing transactions or resolving errors involving the Service; or
- In order to verify the existence and condition of the Customerís account for a third party, such as a credit bureau or a merchant; or
- In order to comply with government agency rules, court orders, or other applicable law; or
- To the Bankís employees, service providers, auditors, regulators, collection agents, affiliated companies, or attorneys in the course of their duties and to the extent allowed by law; or
- If the Customer gives permission to the Bank.
If the Customer wants to terminate access to the Service, the Customer agrees to call one of the Bankís local branches. After receipt of the Customerís call, the Bank will send a written termination authorization to the Customer for the Customerís signature. The Customer will need to sign the termination agreement and return it to the Bank.
PLEASE REMEMBER RECURRING TRANSFERS WILL NOT NECESSARILY BE DISCONTINUED BECAUSE THE CUSTOMER TERMINATES ACCESS TO THE SERVICE. THE CUSTOMER MUST TELL THE BANK TO MAKE SURE THAT RECURRING TRANSFERS BETWEEN ACCOUNTS ARE STOPPED.
The Bank reserves the right to terminate the Service, in whole or in part, at any time with or without cause and without prior written notice to the Customer. In that event, or in the event that the Customer gives the Bank a termination notice, the Bank may (but is not obligated to) immediately discontinue making previously authorized transfers, including recurring transfers and other transfers that were previously authorized but not yet made. The Bank also reserves the right to temporarily suspend the Service in situations deemed appropriate by the Bank, in its sole and absolute discretion, including when the Bank believes a breach of system security has occurred or is being attempted. The Bank may consider repeated incorrect attempts to enter the Customerís PIN or password as an indication of any attempted security breach. Termination of the Service does not affect the Customerís obligations under this Agreement with respect to occurrences before termination.
9. Limitation of Liability
Except as otherwise provided in this Agreement or by law, the Bank is not responsible for any loss, injury, or damage, whether direct, indirect, special or consequential, caused by the Service or the use thereof or arising in any way out of the installation, operation, or maintenance of the Customerís PC equipment.
No waiver of the terms of this Agreement will be effective, unless in writing and signed by an authorized officer of the Bank.
The Customer may not transfer or assign its rights or duties under this Agreement.
12. Governing Law
The laws of the State of Iowa shall govern this Agreement and all transactions hereunder. The Customer acknowledges that he/she has reviewed this Customer Agreement, understands the terms and conditions set forth herein, and agrees to be bound hereby.
The Customer, in consideration of being allowed access to the Service, agrees to indemnify and hold Security State Bank harmless for any losses or damages to the Bank resulting from the use of the service, to the extent allowed by applicable law.
14. Security Procedures
By accessing the Service, the Customer hereby acknowledges entering a protected web site owned by the Bank, which may be used only for authorized purposes. The Bank may monitor and audit usage of the System, and all persons are hereby notified that use of the Service constitutes consent to such monitoring and auditing. Unauthorized attempts to up-load information and/or change information on these web sites are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986.
The Bank utilizes several levels of security within its security framework. User Level deals with cryptography and Secure Sockets Layer (SSL) protocol, and is the first line of defense used by all customers accessing the Bankís Banking Server from the public Internet. The Server Level will focus on firewalls, filtering routers, and the Bankís operating system. Host Level deals specifically with the Bankís Internet banking services, and the processing of secure financial transactions.
The Bank utilizes several components of User Level security that ensure the confidentiality of information sent across the public Internet. The first requires the Customerís use of a fully SSL-compliant 128 bit-encrypted browser, such as Netscape Navigator or Microsoft Internet Explorer. SSL is an open protocol that allows a userís browser to establish a secure channel for communicating with the Bankís Internet server. SSL utilizes highly effective cryptography techniques between the Customerís browser and the Bankís server to ensure the information being passed is authentic, cannot be deciphered, and has not been altered en route. SSL also utilizes a digitally signed certificate that ensures the Customer is truly communicating with the Online Banking Server and not a third party trying to intercept the transaction. After a secure connection has been established between the Customerís browser and the Bankís server, the Customer will then provide a valid User ID and password to gain access to the Bankís services. This information is encrypted, logged by the server forming another complete physical security layer to protect the serverís information, and a request to log on to the system is processed. Although SSL utilizes proven cryptography techniques, it is important for the Customer to protect its User ID and password from others, and the Customer agrees to do so. The Customer must follow the password parameters the Bank specifies at the time the Customer signs up for an Internet banking account. The Customer also agrees to change its passwords often. Session time-outs and a limit on the number of logon attempts are examples of other security measures in place to help ensure that inappropriate activity is prohibited at the User Level.
All transactions sent to the Bankís Banking Server must first pass through a filtering router system. These filtering routers automatically direct the request to the appropriate server, after ensuring the access type is through only a secured browser. The routers verify the source and destination of each network packet and manage the authorization process of letting packets through. The filtering routers are designed to also prohibit all other types of Internet access methods at this point. This process is designed to block all non-secured activity and defend against inappropriate access to the server. The Banking Server is protected using an up-to-date firewall platform. This platform defends against system intrusions and effectively isolates all but approved customer financial requests. The platform also secures the hardware running the online applications and prevents associated attacks against all systems connected to the Banking Server. The system is monitored 24 hours a day, seven days a week for a wide range of anomalies to determine if attempts are being made to breach the security framework.
Once authenticated, the Customer is allowed to process authorized Internet banking transactions using host data. In addition, communication time-outs ensure that the request is received, processed and delivered within a given time frame. Security is designed to deny any outside attempt to delay or alter the process. Further password encryption techniques are implemented at the host level, as well as additional security logging and another complete physical security layer to protect the host information itself.
While the Bankís service provider continues to evaluate and implement the latest improvements in Internet security technology, users of the online banking system also have a responsibility for the security of their information and must always follow the directions listed below:
- Utilize the latest 128-bit encryption version of either Netscape Navigator or Microsoft Internet Explorer. The online banking system is best viewed and is most secure when the Customer uses one of the above two browsers, as they are both certified for use at the Bankís site.
- Keep the Customerís password confidential. The Customer must follow the Bankís specific parameters for a password, and the Bank recommends the Customer change it frequently to ensure the information cannot be guessed or used by others.
- Ensure that others are not watching the Customer enter confidential information on the keyboard when using the system.
- Never leave the computer unattended while logged onto the online banking system. Others may approach the computer and gain access to Customer account information while the Customer is away from the computer.
- Be sure to sign off when finished using the system to properly end the session. Once a session has been terminated, no further transactions can be processed until the system is logged into again.
- Close the browser when finished so that others cannot view any account information displayed on the computer.
- Keep the computer being used free of viruses and spyware. Use virus and spyware protection software to routinely check for a virus or spyware on the computer being used. Never allow a virus or spyware to remain on the computer while accessing the online banking system.
- Report all crimes to the Bank and law enforcement officials immediately.
Following these simple security measures will help ensure interaction with the Online Banking system will be completely confidential. Security State Bank looks forward to serving your Online Banking needs both today and in the future---securely!
15. Funds Availability
If Security State Bank places a case-by-case or a large deposit exception holds to delay availability of deposited items, we will make the first $200. available not later than the business day following the banking day of deposit.
ELECTRONIC FUNDS TRANSFER AGREEMENT & DISCLOSURES
This agreement and Disclosure is made in compliance with Federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving an account at the Financial Institution. The following disclosures set forth you and our rights and responsibilities concerning the electronic funds transfer. In this Agreement, the words ďyouĒ and ďyourĒ mean those who sign as applicants or any authorized user(s). The words ďweĒ, ďusĒ and ďourĒ mean the Financial Institution. The abbreviation ďPINĒ or word ďcodeĒ means a personal identification number.
Fees and Charges:
- We do not charge for any preauthorized EFTs.
- We will charge $10.00 for each stop-payment order for preauthorized transfers.
Liability for Unauthorized Transfers
Tell us AT ONCE if you believe your card, ATM PIN, or POS card or PIN has been lost of stolen or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account. If you tell us within two (2) business days after you learn of the loss or theft of your card or code, you can lose no more than $50.00 if someone used your card or code without permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your card or code, and we can prove that we could have stopped someone from using your card or code with your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfer that you did not make, including those made by card code or other means, tell us at once. IF you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty (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 good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. IF you believe that your card or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call (515)899-2121, or write us at Security State Bank, PO Box 380, 207 Isabella Street, Radcliffe IA 50230-0380. You should also call the number or write this address if you believe a transfer has been made using the information from your check without your permission.
For the purposes of these electronic funds transfer disclosures, our business days are Monday through Friday. Holidays are not included.
Periodic Statement. You will get a monthly checking account statement from us, unless there are no transactions in a particular month. In any case you will get a statement quarterly. You will get a monthly statement from us on your savings account if the statement includes electronic funds transfers, if your statement does not include electronic funds transfers, you will receive a statement semi annually in December and June.
Direct Deposits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (515) 899-2121 to find out whether or not the deposit has been made.
Our Liability for Failure to Make Transfers. 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:
- If, through no fault of ours, you do not have enough money in your account to make the transfer
- If the money in your account is subject to legal process or other claim restricting such transfer.
- If the ATM where you are making the transfer does not have enough cash.
- If the terminal or system was not working properly and you knew about the breakdown when you started the transaction.
- If circumstance beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken.
- There may be other exceptions stated in our agreement with you.
In Case of errors or Questions about your Electronic Transfers:
Telephone us at 515-899-2121 or 515-733-5311
Write us at Security State Bank, PO Box 380, 207 Isabella Street, Radcliffe IA 50230-0380 or Security State Bank, 339 Factory Outlet Dr, Story City IA 50248-0040
as soon as you can, 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 60 days after we sent the FIRST statement on which the problem or error appeared.
- Tell us your name and account number (if any)
- 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.
- tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.
We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will 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 10 business days, we may not credit your account.
For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
Confidentiality. We will disclose information to third parties about your account or the transfers you make:
- To complete the transfers as necessary;
- To verify the existence and condition of your account upon the request of a third part, such as a credit bureau or merchant or;
- To comply with government agency or court orders; or
- If you give us your written permission.
Passwords or Personal Identification Number (PIN) The PIN or password issued to you is for security purposes. The passwords are confidential and should not be disclosed to third parties. You are responsible for safekeeping your PIN or passwords. You agree not to disclose or otherwise make your password or PIN available to anyone not authorized to sign on your accounts.
You may make only six (6) transfers a month from your savings account. A savings account is a non transaction account and is therefore limited in the number of transfers that can be made electronically.
Authorized transactions that can be done through internet banking include:
- Transfer money between accounts
- Make Loan Payments
- Review Statements
- View specific checks that have cleared
- View transaction history of Checking accounts
- View transaction history of Savings accounts
- View transaction history of Loan accounts
- View transaction history of Time Certificates of Deposits & IRAs
You may contact your local Security State Bank branch by going to the Contact Us page at www.ssbonline.biz.
Thank you for choosing Security State Bank for your banking needs.