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Agreement and Disclosures
Internet Banking Terms and Conditions Agreement
This Agreement describes your rights and
obligations as a user of the On-line Banking Service or the Bill
Payment Service . It also describes the rights and obligations of
Carolina Federal 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.
CUSTOMER DISCLOSURE AND AGREEMENT TO RECEIVE ELECTRONIC
COMMUNICATIONS
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 Carolina Federal Savings Bank for the
provision of certain On-line Banking Services, may be in electronic
form, and (3) agreeing that certain information that may be
delivered in connection with the Services may also be in electronic
form.
You are also acknowledging receipt of the following information and
agree that:
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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 transaction you conduct using the
Service.
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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.
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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.
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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 email
address, you may call Carolina Federal Savings Bank at
(843)571-6900, or write a letter and send it to:
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Carolina Federal Savings Bank
Attention: Business Development
1106 St. Andrews Blvd
Charleston, SC 29401
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You are able to access information that is
provided in the same manner as the information and the Services
via the Internet.
DEFINITIONS
The following definitions apply in this Agreement.
"On-line Banking" is the Internet-based service providing
access to your account(s) under the terms set forth in this Internet
Banking Terms and Conditions Agreement
"On-line Account" is a Carolina Federal Savings Bank account
from which you will be conducting transactions using a Service.
"Bill Payment" is the Internet-based service providing
payments to Carolina Federal Savings Bank or to third parties from
your designated Carolina Federal Savings Bank account(s).
"Bill Pay Account" is the transaction account from which you
are initiating a Bill Payment.
"Business Day" refers to Monday through Friday, excluding
holidays as determined by Carolina Federal Savings Bank. All On-line
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. Carolina Federal Savings Bank will provide you with
a code for use during the initial sign-on process.
"Payment Initiation Date" is the date you enter into On-line
Banking when setting up a bill payment.
"Time of day" references are to Eastern Standard Time.
"We," "us" "our" or "CFSB" refer to Carolina Federal Savings
Bank, which offers the Services provided under this Agreement and
holds the accounts accessed by the Services.
ACCESS TO SERVICES
Carolina Federal Savings Bank will provide on-line instructions
describing how to use the On-line Banking Service or Bill Payment
Service. To gain access to this Service you will need your Access ID
and your Password.
HOURS OF OPERATION
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.
USE OF YOUR SECURITY PASSWORD
The safety of our customers' accounts and account information is of
paramount importance to Carolina Federal 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
used with the Services. You agree to assume responsibility for all
transactions initiated through the Services with your Carolina
Federal Savings Bank User-ID, up to the limits allowed by applicable
law. While Carolina Federal Savings Bank continues to provide our
customers with the level of on-line security we believe necessary
and appropriate, customers who share their User-IDs and Passwords
are giving up the full benefit of our security measures and legal
protections to which they may be entitled. No Carolina Federal
Savings Bank representative will ever call and ask for your Access
ID or User Password.
IF YOUR PASSWORD HAS BEEN LOST OR STOLEN
If your Password has been lost or stolen, call Carolina Federal
Savings Bank immediately at (843) 571-6900, between 8:30AM and
5:00PM Monday through Friday. Telephoning Carolina Federal 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 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 $50.00 if someone uses your Password to
conduct unauthorized electronic funds transfers without your
permission. If you do NOT notify us within two Business Days after
you learn of the loss or theft of your Password, and we can prove we
could have stopped someone from using your Password to conduct
unauthorized electronic funds transfers without your permission if
you had told us, you could lose as much as $500.00.
BANKING TRANSACTIONS WITH ON-LINE BANKING
In addition to viewing account information, you may use On-line
Banking to conduct the following transactions:
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Transfer funds among your linked checking,
savings, money market, loan and line of credit accounts.
NOTE: Because regulations require Carolina Federal Savings Bank
to limit pre-authorized transfers (including On-line Banking
transfers), the following limitations apply:
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Statement Savings Account-- You can make no
more than six (6) transfers per statement period by
pre-authorized or automatic transfer, or by telephone or On-line
Banking
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Money Market Savings Account-- You can make
no more than six (6) transfers per statement period by
pre-authorized or automatic transfer or by telephone or On-line
Banking, and no more than three (3) of these may be by check,
draft or debit card.
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Initiate bill payments.
New services may be introduced for On-line
Banking from time to time. Carolina Federal 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.
BILL PAYMENT SERVICE
The Bill Payment Service permits you to use your
Internet-enabled device to direct payments from your designated
on-line Bill Pay Account to third parties you wish to pay and who
accepts Bill Payment Services.
Through the Bill Payment Service, you can pay bills from your Bill
Pay Account to:
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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
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Individual Payees-- payments made to
individuals, family, or friends for non-business purposes.
You may set up the following types of bill
payments:
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Single Payments-- a payment to be made to a
payee one time
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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 Payment 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 Carolina Federal
Savings Bank to make the transfer or payment. Carolina Federal
Savings Bank will attempt to notify you by e-mail or U.S. Postal
Mail, but Carolina Federal 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. In all cases, you are responsible for either making
alternate arrangements for the payment or rescheduling the payment
through the Bill Payment 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, Carolina
Federal Savings Bank may use such method as Carolina Federal Savings
Bank, in its sole discretion, may elect in determining which
payments to complete.
You must schedule the Payment Initiation Date at least five (5)
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 3:00 p.m. EST, Carolina Federal 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 On-line Banking service controls.
You may cancel or change a scheduled payment by using the payment
screens in the Bill Payment Service. Payments must be changed or
canceled using the Bill Payment Service prior to 3:00 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 Carolina Federal 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. Carolina Federal Savings Bank may pay
any item that is presented following the lapse of any stop payment
order.
BILL PAYMENT GUARANTEE
Carolina Federal Savings Bank reserves the right to refuse any
transaction if the Bank believes such refusal is necessary for
security reasons, without any liability for damages or fees.
However, if we do not properly complete a transfer to or from your
account on time or in the correct amount according to our agreement
with you, we will reimburse you for any late payment fees or
penalties you are charged up to a maximum of $50.00 per scheduled
payment. In order for you to be eligible for reimbursement, you must
meet each of the following conditions:
You must properly schedule the payment to be
initiated on a date at least five (5) Business Days prior to the
bill's actual due date. This means that you must initiate a Single
Payment before 3:00 p.m. Eastern Standard Time on a Business Day at
least five (5) 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.
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You must provide us with the correct Payee
name, address, phone number and account information, and with
the correct payment amount.
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On the Payment Initiation Date your checking
account must contain sufficient available funds, including
overdraft lines of credit, to complete the payment.
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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.
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The Service will not process any payments
less than $1.00 or greater than $99,999.99
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You can schedule a Payment Due Date up to a
year in advance.
STATEMENTS
You will continue to receive your regular account statement either
monthly or quarterly, depending on the type of account.
IF YOUR STATEMENT SHOWS TRANSFERS THAT YOU DID NOT MAKE
If your statement shows transfers that you did not make, notify
Carolina Federal Savings Bank immediately at (843)571-6900, or write
a letter and send it to:
Carolina Federal Savings Bank
Attention: Business Development
1106 St. Andrews Blvd
Charleston, SC 29401
If you do not notify Carolina Federal Savings Bank within sixty (60)
days after the statement was mailed to you, you may not recover any
money lost after the sixty (60) days which would not have been lost
if Carolina Federal Savings Bank had been notified in time.
ERRORS AND QUESTIONS
In case of errors or questions regarding an On-line Banking or Bill
Payment transaction, you may call Carolina Federal Savings Bank at
(843)571-6900, or write a letter and send it to:
Carolina Federal Savings Bank
Attention: Business Development
1106 St. Andrews Blvd
Charleston, SC 29401
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:
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Your name and account number
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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.
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The dollar amount of the suspected error
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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
forty-five (45) calendar days to investigate a complaint or
question. If this occurs, we will credit your account within ten
(10) Business Days 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.
If your notice of error concerns a transaction that occurred during
the first 30 days after the first deposit to the account was made,
the applicable time periods are 20 Business Days in place of 10
Business Days and 90 calendar days in place of 45 calendar days.
If we determined that no error occurred, we will send you a written
notice within three (3) Business Days. You may request copies of the
documents that were used in the investigation.
You agree that Carolina Federal 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 Carolina Federal Savings Bank shall be considered received
within three (3) Business Days of the date sent by Carolina Federal
Savings Bank, regardless of whether or not you sign on to the
Service within that time frame.
LIMIT OF CAROLINA FEDERAL SAVING BANK’S RESPONSIBILITY
Carolina Federal Savings Bank agrees to make reasonable efforts to
ensure full performance of On-line Banking. Carolina Federal Savings
Bank will be responsible for acting only on those instructions sent
through On-line Banking which are actually received, and cannot
assume responsibility for circumstances over which the bank has no
direct control. This includes but not limited to, the failure or
malfunctions in communication facilities, which may affect the
accuracy or timeliness of messages you send. Carolina Federal
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 Carolina Federal 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.
Carolina Federal 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.
Carolina Federal 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 On-line Banking. Carolina Federal Savings Bank will not
be responsible for any errors or failures from the malfunction or
failure of your hardware or software.
The limit of Carolina Federal Savings Bank's liability shall be as
expressly set forth herein. Under no circumstances will Carolina
Federal 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 right to any of the aforesaid, and you acknowledge that
the limit of your remedy is as otherwise expressly set forth herein.
CAROLINA FEDERAL SAVINGS BANK'S RESPONSIBILITY
Carolina Federal Savings Bank will be responsible for your actual
losses if they were directly caused by our failure to:
However, we will not be responsible for your
losses if:
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Through no fault of Carolina Federal Savings
Bank, you do not have enough money in your account to make the
transfer
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Through no fault of Carolina Federal Savings
Bank, the transaction would have caused you to exceed your
available credit
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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
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There is a hold on your account, or if
access to your account is blocked in accordance with banking
policy
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Your funds are subject to legal process or
other encumbrance restricting the transfer
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Your transfer authorization terminates by
operation of law
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You believe someone has accessed your
accounts without your permission and you fail to notify Carolina
Federal Savings Bank immediately
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You have not properly followed the
scheduling instructions, included in this Agreement, to make a
transfer or the Payee refuses the Service.
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For the failure of any payee to correctly
account for or credit the payment in a timely manner
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We have received incomplete or inaccurate
information from you or a third party involving the account or
transfer.
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For changes to the payee's address or
account number (unless you have advised us of the change within
three (3) Business Days in advance)
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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.
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.
ELECTRONIC MAIL (EMAIL)
If you send Carolina Federal Savings Bank an electronic mail message
through the Service, Carolina Federal Savings Bank will be deemed to
have received it on the following Business Day. Emails will be
answered within a reasonable timeframe.
You should not rely on electronic mail if you need to communicate
with Carolina Federal 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 Carolina Federal 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 funds
transfer that you make. Any such electronic mail sent to you by
Carolina Federal Savings Bank shall be considered received within
three (3) days of the date sent by Carolina Federal Savings Bank,
regardless of whether or not you sign on to the Service within that
time frame.
OTHER AGREEMENTS
In addition to this Agreement, you and Carolina Federal Savings Bank
agree to be bound by and comply with the requirements of the
agreements applicable to each of your On-line Accounts. Your use of
the On-line Banking service or the Bill Payment 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 Carolina Federal Savings Bank,
including the charges that may be imposed for electronic funds
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, Regulation E
Disclosure, Depositor's Agreement and Terms and Conditions apply to
this Service.
MODIFICATIONS TO THIS AGREEMENT
Carolina Federal 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.
DISCLOSURE OF INFORMATION TO THIRD PARTIES/ PRIVACY POLICY
A copy of Carolina Federal Savings Bank's Consumer Privacy Statement
is available upon request at any of our branches, or can be mailed
to you upon request by calling Carolina Federal Savings Bank at
(843)571-6900, or writing a letter and sending it to:
Carolina Federal Savings Bank
Attention: Business Development
1106 St. Andrews Blvd
Charleston, SC 29401
You can also access our Policy online by clicking on the Privacy
Policy icon on the Carolina Federal Savings Bank Website.
INACTIVITY / TERMINATION
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 On-line Banking privileges (including the Bill
Payment 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 [number] 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 On-line Banking and/or Bill Payment Service, you must
notify Carolina Federal Savings Bank. Your notification should
include your name, address and the effective date to stop the
service(s). When Bill Payment is terminated, any pre-scheduled bill
payments made through On-line Banking will also be terminated. Your
final charge for the Bill Payment Service will be assessed at the
end of your statement cycle. You may notify Carolina Federal Savings
Bank by one of the following methods:
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By initiating a customer inquiry through our
Web site
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By calling (843) 571-6900
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By writing a letter and either sending it
to:
Carolina Federal Savings Bank
Attention: Business Development
1106 St. Andrews Blvd
Charleston, SC 29401
GOVERNING LAW
This Agreement is governed by the laws of the state of South
Carolina and applicable federal law(s).
FEE SCHEDULE
Carolina Federal Savings Bank offers the benefits and convenience of
the On-line Banking service to you at no monthly charge. Account
research, stop payment charges and Bill Pay Services will be
assessed at the rates published in Carolina Federal Savings Bank's
Miscellaneous Schedule Fees Brochure and deducted from your Bill Pay
Account or another account you hold at Carolina Federal Savings
Bank.
These fees are subject to change. Carolina Federal 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: September 8, 2004
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