Bill Pay Service Agreement
This agreement describes your rights and obligations as a user of the Bill Payment Service. It also describes the rights and obligations of Sterling Federal Bank. Please read this agreement carefully and print a copy for your reference. By requesting and using this service, you agree to comply with the terms and conditions of this agreement.
Definitions
The following definitions apply to this agreement:
§ Bill Pay Account means any Sterling Federal checking account from which you have designated Bill Payments.
§ We, Us or Sterling Federal refer to Sterling Federal Bank FSB which offers the service and which offers the accounts accessed by the service.
§ You and Your refers to any person(s) that accepted the agreement requesting the Bill Pay Service.
Bill Payment Service
The Bill Payment Service ("Bill Pay") permits you to use your Internet-enabled device to direct payments from your designated Bill Pay Account to third parties you wish to pay. Your primary Bill Pay Account must be a checking account. Through the Bill Pay Service, you can pay bills from your Bill Pay Account to businesses or individuals. Sterling Federal uses an outside third-party company to provide processing of Bill Pay requests.
All payments you make will be deducted from the account that you designate as your Bill Pay Account for the Bill Pay Service. Any payments you wish to make through Bill Pay must be payable in U.S. dollars to a payee with a mailing address located in the continental
You may choose to schedule payments to recur in the same amount at regular weekly, bi-weekly, monthly, semi monthly, quarterly, annual or semi-annual intervals (a "Fixed Payment"). If a fixed payment is chosen, the bill will be paid automatically each billing period. If the payment is not a fixed payment, it will be a "variable payment." Variable payments are not made until you enter the amount of the current bill. You may also change or skip payments that are fixed payments.
For all Bill Pay payments, you agree to schedule your payment five (5) business days prior to the due date for payments to be made by check, three (3) business days for electronic transfers, (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). The first payment to a new vendor will be by check (requiring ten (10) business days lead time). You may refer to the Payee List on the Bill Pay Service to determine if future payments will be made by check or electronic transfer. If you do not properly schedule your payment in advance, you will be fully responsible for all late fees, finance charges or other action taken by the payee.
Sterling Federal is only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this agreement. Sterling Federal will not be liable in any way for damages you incur if you do not have sufficient funds in your Bill Pay Account to make the payment on the processing date, for delays in mail delivery, for accuracy of vendor address, for the failure of any payee to correctly account for or credit the payment in a timely manner, or for any other circumstances beyond the control of Sterling Federal.
Funds must be available in your Bill Pay Account on the requested payment date. If your Bill Pay Account does not have sufficient funds to make a payment on the scheduled payment date, two additional attempts may be made to debit your Bill Pay Account or the payment may be stopped. You will receive notification by
Sterling Federal shall have no obligation or liability if it does not complete a transfer or payment because there are insufficient 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 service. Excessive insufficient and/or uncollected funds charges could cause termination of your Bill Pay feature.
Stop Payment
You may cancel or change a payment before it has been processed in the Bill Pay Service on the Make Payments screen.
If you wish to cancel a payment after it has been sent, please notify a Customer Service Representative at 815-626-0614 immediately. Stop payments on check payments will be handled on a case-by-case basis. A stop payment fee will be charged for all stop payments accepted.
Electronic payments cannot be stopped once the payment has been sent.
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 Bill Pay privileges under this agreement without notice to you if you:
§ Do not pay any fee required by this agreement when due.
§ Do not comply with the agreement governing your deposit or loan accounts.
§ 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.
Inactivity
If you do not complete a Bill Payment through the service during any consecutive 90 day period, your Bill Pay Service will be considered inactive, and may be cancelled.
Cancellation
To cancel the Bill Pay Service, you must notify Sterling Federal and provide your name; address and that you are discontinuing Bill Payment; you must notify us at least ten (10) business days prior to the date on which you desire the service to be terminated. When Bill Payment is terminated, any prescheduled bill payments made through Internet Banking will also be terminated. Final fees will be assessed through your normal statement cycle.
You may notify Sterling Federal by one of the following methods:
1. By calling 815-626-0614 or 800-353-0888 and select 0 for the operator, during normal banking hours and requesting Customer Service.
2. By writing a letter and sending it to the following address:
Sterling Federal Bank
Internet Banking Department
Fee Schedule
The following fees will be charged based on checking account type:
|
Checking Account Type |
Monthly Fee |
Number of Free Payments per Month |
Additional Payment Fee |
|
Totally Free Checking |
0.00 |
6 |
.60 |
|
Bright Checking |
0.00 |
6 |
.60 |
|
Ultra Bright Checking |
0.00 |
10 |
.60 |
|
Ultimate 50 Checking |
0.00 |
10 |
.60 |
|
Money Manager Checking |
0.00 |
Unlimited |
|
Other Fees
$26.25 per item charge on a Returned Item.
$26.25 per item charge on a Stop Payment.
All other account charges as described in your account disclosure shall continue to apply. We will automatically deduct the fees related to this service from your account each month.
I AUTHORIZE my financial institution to post payment transactions generated by phone and/or PC from the Bill Pay Service to the account indicated on the form being sent electronically. I understand that I am in full control of my account. My use of the Bill Pay Service signifies that I have read and accepted all terms and conditions of the Bill Pay Service.
I UNDERSTAND that payments may take up to 10 business days to reach the vendor and that they will be sent either electronically or by check. My financial institution is not liable for any service fees or late charges levied against me. I also understand that I am responsible for any loss or penalty that I may incur due to lack of sufficient funds or other conditions that may prevent the withdrawal of funds from my account.
Consent to Electronic Disclosures and Notices
This E-sign consent is provided in connection with a transaction affecting interstate commerce that is subject to the federal Electronic Signatures in Global and National Commerce Act. This consent applies to all disclosures and notices that we are required by law to provide to you in writing. Such disclosures and notices include, but are not limited to:
§ All legal and regulatory disclosures and notices associated with the Internet Banking Service,
§ Notices or disclosures regarding a change in the terms of your Account, and
§ Privacy policies and notices.
You agree that we may provide you with any such disclosures and notices solely in electronic format, unless and until you withdraw your consent as described below. All electronic disclosures and notices will be provided either via e-mail or access to a web site. We will not send you a paper copy of any disclosure or notice, unless you request it or we deem it appropriate to do so.
You can obtain a paper copy of an electronic disclosure or notice by printing it yourself or by requesting that we mail you a paper copy, provided that such request is made within a reasonable time after we first provided the electronic disclosure or notice to you. To request a paper copy or withdraw your consent to receive disclosures and notices in electronic form, contact us by:
1. Calling 815-626-0614 or 800-353-0888 and select 0 for the operator, during normal banking hours and requesting Customer Service.
2. Writing a letter to Sterling Federal Bank, Internet Banking Department,
We are not obligated to provide a paper copy of any information that you have authorized us to provide electronically and as authorized by law, we may charge you a reasonable service charge for the delivery of such paper copies. We reserve the right, in our sole discretion, to discontinue the provision of electronic disclosures and notices and to terminate or change the terms and conditions on which we provide the electronic disclosures and notices. We will provide you with notice of any such termination or change as required by law.
We will not impose any fee to process the withdrawal of your consent to receive electronic disclosures and notices in electronic form, however, this action will terminate your use of the Internet Banking Service. Any withdrawal of your consent to receive electronic disclosures or notices will be effective only after we have a reasonable period of time to process your withdrawal. At our discretion, we may treat an invalid e-mail address as a withdrawal of your consent to receive electronic disclosures and notices.
It is your responsibility to provide us with current and complete contact information and e-mail address. If any of this information changes, it is your responsibility to promptly contact us as provided above and update such information.
In order to access and retain the electronic disclosures and notices, you must have the following hardware and software:
§ A personal computer with access to the internet and at least 10 megabytes of free hard disk space
§ One of the following operating systems:
Windows XP SP2 or higher
Windows
Windows 7
Mac OS X 10.5
Mac OS X 10.6
§ One of the following internet browsers:
Internet 7 or higher (Windows XP SP 2 or higher and Windows Vista)
Internet 8 or higher (Windows 7)
Apple, Inc. Safari 5.x or higher (all operating systems)
Mozilla Firefox 4.x or higher (all operating systems)
Google Chrome 10.x or higher (all operating systems)
§ Adobe Reader 9.0 or higher (all operating systems)
You agree that your consent to receive electronic disclosures and notices involves a transaction affecting interstate commerce and is subject to the Electronic Signatures in Global and National Commerce Act. You further agree that the Act shall apply to the fullest extent possible to validate our ability to conduct business with you by electronic means.
