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Electronic Funds Transfer
Agreement and 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 your and our rights and responsibilities concerning the electronic funds transfers. In this Agreement, the words "you" and "your" mean those who sign as applicants or any authorized user(s). The words "we", "us" and "our" mean the Financial Institution. The abbreviation "PIN" or word "code" means a personal identification number.


Online Banking

Types of Transactions: You may access certain account(s) you maintain with us by computer using your assigned user ID and passcode by accessing the online banking service. You may use the online banking service to perform the following functions:

  • Transfer funds between eligible accounts.
  • Obtain balance information on eligible accounts.
  • Review transactions on eligible accounts.
  • Make loan payments.
  • Stop payment requests.
  • Request withdrawal from savings account.
  • Online bill payment.
  • Obtain copy of statement.
  • ACH origination.
  • Order checks.
  • In Addition the above Services are offered:
    • Download account information into Quicken
    • Change Address
    • Notify Me Acccount Updates
    • E-Statements
    • External Transfers
    • Finance Center.

Limitations on Frequency and Amount:

  • For security purposes, there are limits on the frequency and amount of transfers you may make using this Online Banking Service.

Fees and Charges for Online Service:

  • No Fee for Basic Online Banking, Bill Pay or Mobile Banking.

Government Direct Deposits

Types of Preauthorized Transfers: You may arrange for us to complete the following preauthorized transfers to your deposit accounts:

  • Accept direct deposits from the U.S. Treasury Department to your checking or savings account.

Fees and Charges:

  • We do not charge for any preauthorized EFTs.
  • We will charge $25.00 for each stop-payment order for preauthorized transfers.

Other Direct Deposits

Types of Preauthorized Transfers: You may arrange for us to complete the following preauthorized transfers to your deposit accounts:

  • Accept direct deposits from your employer or other financial institutions to your checking or savings account.

Fees and Charges:

  • We do not charge for any preauthorized EFTs.
  • We will charge $25.00 for each stop-payment order for preauthorized transfers.

Preauthorized Debits

Types of Preauthorized Transfers: You may arrange for us to complete the following preauthorized transfers to or from your deposit accounts:

  • Pay certain recurring bills from your checking or savings account.

Fees and Charges:

  • We do not charge for any preauthorized EFTs.
  • We will charge $25.00 for each stop-payment order for preauthorized transfers.

ATM/Debit Card

Types of Transactions/Transfers: You may use the card and PIN issued you to pay for purchases from merchants who have agreed to accept the card at Point of Sale (POS) terminals within the networks identified on your card and such other terminals as the Bank may designate from time to time. Point of Sale (POS) transactions will be deducted from your Primary Account. Point of Sale (POS) transactions involving a refund will be credited to your Primary Account. You may also use the card to pay for purchases from merchants that accept the POS debit card with a MasterCard symbol. You may use the automated teller machine (ATM) card and personal identification number (PIN) issued to you to initiate re-presentment of a check that is returned due to insufficient or unavailable funds. The resulting fee transaction if debited as an EFT from a consumer account is covered by the Electronic Funds Transfer Act and this disclosure. When a merchant re-presents a check electronically, that transaction is not covered by the Electronic Funds Transfer Act or this disclosure. A description of the transaction will appear on your statement.

The following limitations may be applicable to your accounts, except as provided by law:

Liability for Unauthorized MasterCard Point of Sale Debit Card Transactions. Tell us, AT ONCE, if you believe your MasterCard point of sale debit card has been lost or stolen or of any unauthorized transactions. Your liability for unauthorized use of your point of sale debit card with the MasterCard logo when it is used as a MasterCard point of sale debit card will not exceed (A) Zero dollars ($0.00) if the conditions set forth below have been met, or (B) if those conditions have not been met, the lesser of fifty dollars ($50.00) or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. Zero liability will apply only if: (1) you can demonstrate that you have exercised reasonable care in safe-guarding your card from risk of loss or theft; and (2) you have not reported two or more incidents of unauthorized use to us within the preceding twelve (12) months; and (3) your account is in good standing. These liability limits apply only to United States issued MasterCard branded cards. If the transaction does not meet the conditions set forth above, these limits with respect to unauthorized transactions may be exceeded to the extent allowed under applicable law (see Liability for Unauthorized Transfers paragraph below). For specific restrictions, limitations and other details, see your Cardholder Agreement. "Unauthorized use" means the use of your point of sale debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and for which you receive no benefit. To notify us of lost or stolen cards, or of unauthorized transactions, call or write to us at the telephone number or address set forth below. This will help prevent unauthorized access to your account and minimize any inconvenience.

MasterCard is a registered trademark of MasterCard International Incorporated.

In addition to the limitations set forth above, the following limitations may be applicable to your accounts:

Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your card, ATM PIN, POS card or PIN, or online banking 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. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). 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 your 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 without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers 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 it 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 (800) 880-0649, or write us at Security State Bank & Trust, Fredericksburg,P. 0. Box 471, Fredericksburg, TX 78624. 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.

Illegal Transactions. You may not use your ATM, POS, or Debit Card, or other access device for any illegal or unlawful transaction, and we may decline to authorize any transaction that we believe poses an undue risk of illegality or unlawfulness. Notwithstanding the foregoing, we may collect on any debt arising out of any illegal or unlawful transaction.

Business Days. For purposes of these electronic funds transfer disclosures, our business days are Monday through Friday. Holidays are not included.

Documentation.

Periodic Statement.
You will get a monthly 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 quarterly statement from us on your savings account if this is the only account you maintain and the only possible electronic transfer to or from the account is a preauthorized deposit.
Terminal Receipt.
You can get a receipt at the time you make a transfer to or from your account using an ATM or a POS terminal. However, receipts for transactions of $15.00 or less may not always be available.
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 (830) 895-2000 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 transfer would go over the credit limit on your overdraft line.
  • 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 transfer.
  • If circumstances 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 (800) 880-0649, write us at Security State Bank & Trust, Fredericksburg,P. 0. Box 471, Fredericksburg, TX 78624, or E-mail us at internetbanking@ssbtexas.com 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 sixty (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 ten (10) business days after we hear from you and will correct any error promptly. If we

  • Consider using another automated teller machine or coming back later if you notice anything suspicious. It you are in the middle of a transaction and you notice something suspicious, cancel the transaction, pocket your ATM access device and leave.
  • Go to the nearest public area where people are located if you are followed after making a transaction.
  • Do not reveal your Personal Identification Number (PIN) to others. Avoid allowing others to view your PIN entry into an ATM. Memorize your PIN and do not write your personal identification number or code on your ATM access device.
  • Report all crimes to law enforcement officials immediately.