Internet Banking Agreement
This New South Internet Banking Agreement ("Agreement") states the terms and conditions for the Online Banking System offered by New South Federal Savings Bank. By using Bank’s Online Banking System, which includes Online Bill Payment Services (collectively, "Online Services"), each customer agrees to the terms and conditions of this Agreement. The terms and conditions set forth in the Agreement are in addition to those terms and conditions of any account(s) you have with the Bank. This Agreement is in addition to the Terms and Conditions of Your Deposit Account and to the Electronic Funds Transfer Disclosure and incorporates your consent to the Terms and Consent Applicable to Electronic Signatures, Electronic Contracts, Electronic Records, Electronic Mail (“E-Mail”) Facsimile and Other Electronic Services and Communications.
As used in this Agreement, "you" or "your" refers to the person(s) who has/have opened an account at Bank and/or is/are using Online Services; "Card" refers to the New South ATM Card, the New South VISA® Debit Card, and the New South VISA® umbrellaAIR, VISA® Platinum, VISA® Classic, and VISA® Secured Credit Cards; "we", "us," "our," or “Bank” refers to New South and any agent, independent contractor, designee, or assignee the Bank may, in its sole discretion, involve in the provision of Online Services.
In the event that you experience a problem with your User ID or Password,
or believe that your Card has been lost, stolen or compromised, please contact
the Bank immediately. You may contact us toll-free at 1-888-NEW-SOUTH (639-7688),
or send us an e-mail message at deposits@newsouthfederal.com, or send us a
message within the Online Banking System at the Message Center.
Internet Banking. You must have a checking, savings, CD ("Deposit Account"), or loan ("Credit Account") account at the Bank, a valid UserID and Password, and access to a personal computer and a modem to use the Online Services. You can access the Online Services from the Internet. To use the Online Services and perform a transaction, enter your UserID and Password at the "Login" screen. By using any of the Online Services, you agree not to give or make available your UserID or Password to any person not authorized to access your account. You also agree not to give or make available your Personal Identification Number (PIN) for each and any Card to any person not authorized to access your account.
Payments, Transfers.
You may perform the following Online Service transactions:
(A) Funds
Transfers. You may use Online Services to (1) Transfer funds from
checking to checking, (2)
Transfer
funds
from
checking
to savings,
(3)
transfer funds from savings to checking, and (4) transfer funds from savings
to savings.
B) Make Payments. You may make payments from: (1) checking accounts to
loan accounts with us, (2) checking account to third parties via the Online
Bill Payment Services,
and savings accounts to loan accounts with us.
(C) Other Features. You may obtain information about (1) your checking account
balance, (2) the last 12 months of deposits to your checking account, (3) the
last 12 months of withdrawals from your checking account, (4) your savings
account balance, (5) the last 12 months of deposits to your savings account,
(6) the
last 12 months of withdrawals from your savings account, (7) the principal
balance of your loan accounts, (8) the principal balance and interest posted
to your
certificate of deposit accounts, (9) check images for the past 60 days, (10)
download account information into personal financial software, (11) categorize
deposits to and payments from your account, (12) set up unique categories for
your accounts, and (13) review reports on your account activity.
Please refer to the Truth in Savings Disclosure and the current Fee Schedule
for charges that may apply to your account.
You may perform no more than six funds transfers per month from any savings
account. Note: If you exceed the maximum number of allowable transfers or preauthorized
withdrawals on any savings account, the Bank will take such steps as it reasonably
deems necessary to ensure your future compliance with allowable transfer limits,
including terminating your Online Services. There may also be excessive transfer
fees automatically deducted from your account. See your Truth in Savings Disclosure
and the current Fee Schedule for specific account fees
Communications:
(a) You may communicate with the Bank by using your personal computer to send and receive written messages electronically. See the "Contact Us" link on our website or the "Message Center" within the Online Services for more information on how to contact us. We are also available via e-mail, telephone or U.S. Mail. (b) From time to time, we may communicate with you, about products or services offered by the Bank, either by email at your email address of record or mail at your U.S. postal address of record. You have a right to opt out of these communications. If you wish to be removed from these email communications, reply to the email and type the word “unsubscribe” in the subject line. If you wish to be removed from the mail communications, contact us via email at deposits@newsouthfederal.com or U.S. Mail at P.O. Box 101448, Birmingham, AL 35210-6448.
Online Bill Payment Services
You may use a personal computer to electronically direct the Bank to make payments from your designated Online Bill Payment checking account (the "Designated Account") to third parties who you have selected in advance to receive payment by means of the Online Bill Payment Service ("payees"). You may make payments through the Online Bill Payment Service to 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 ("Business Payee"), as well as individuals, family, or friends for non-business purposes ("Individual Payees"). Although you will not be asked to designate your payees as "Business" or "Individual" when you enter them on the Online Bill Payment Service, we reserve the right, in our sole discretion, to determine at any time into which category a payee falls. Payments may be made only to payees with a U.S. payment address. Payments cannot be made to Business Payees or Individual Payees outside of the United States, or in a foreign currency. You may not make a payment of alimony, child support, taxes, or other governmental fees or court directed payments through the Online Bill Payment Service.
(A) Using the Service. To gain access to
the Online Bill Payment Service you must sign on to the Online Services
using
your unique UserID and Password. To use the Online Bill Payment Service,
you
must provide information online to the Bank that identifies your payees.
You must provide sufficient information about a payee to permit the Bank
to properly
direct a payment and permit the payee, upon receipt of a payment, to identify
you as the payment source. You do this by filling in all required fields.
You may also use a vendor from our master list of vendors, but we do not
guarantee that the mailing address for a particular vendor in our master
list is the
same mailing address for your particular payment. Many vendors have more
than one mailing address for different kinds of payments. If you select
a vendor
from our master list, rather than entering in the payment mailing address
information yourself, you are responsible for ensuring that the mailing
address
for your payment is correct. We accept no responsibility for late or returned
payments if you do not direct us to send the payment to the correct mailing
address.
(B) Types of Accounts. Your primary Online
Bill Payment account must be an New South checking account with unlimited
check writing privileges. This is your Designated Account. If you have multiple
checking accounts, the Designated Account will be the default account for
each bill payment, and for which Online Bill Payment Services will use for
withdrawing funds specified during the Online Bill Payment process. You
also
have the option of changing the default Designated Account to any one of
your other checking accounts for each bill payment scheduled. If you choose
to
use one of your other checking accounts, the account chosen will be debited
for the payment. When beginning a subsequent Online Bill Payment session,
the system will default once again, for each bill payment, to your Designated
Account (unless you specifically select one of your other checking accounts).
(C)Types of Online Bill Payments. You will
be able to set up the following types of bill payments: (1) Single Payment:
You may schedule a payment to be made one time to a payee. The payment can
be scheduled to be made at a future date, the same day, or on the next business
day that you enter the payment information on the Online Bill Payment Service.
In either case, this is the "Transmit Date." (2) Recurring Payment:
You may schedule payments to payees to be automatically initiated in a
fixed
amount weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, semi
annually or annually (the "Transmit Date"). If the payment date
falls on a day other than a business day in any month, your payment will
be
initiated on the next following business day. Payments can be scheduled up
to 364 days in the future.
(D) Scheduling Payments. Before scheduling
a payment to a payee, the payee must be set up on the Online Bill Payment
Service. To set up a payee: (1) select the "Bill Payment" button
on the left of your screen; (2) select the "Payee Management" button;
(3) select the "Add New Payee" tab; (4) identify the new payee
- Online Bill Payment provides you with three options when entering new
payees
- you can: (i) search the master list of payees, (ii) browse the list of
payees alphabetically, or (iii) enter all the information manually; (5)
enter your
payee account number for verification and press the "Continue" button,
once the payee is selected; (6) enter your payment options and click "ok"
and the payee set-up is complete
To electronically schedule a payment: (1) select the "Make Payment"
button on the left of the screen; (2) select the payee from the drop down
selection menu and press "Continue"; (3) enter the amount of the
payment and your Designated Account to use for the payment; and (4) enter
the Transmit Date. You can view scheduled payments on the "Pending Payments"
screen by selecting the "Pending Payments" button on the left of
your screen.
(E) Payment Limitations. The Online Bill Payment Services:
a. Maximum scheduled payment limit per day,
which is the maximum amount that can be scheduled daily, regardless of the
execution date, is $20,000.00.
b. Maximum paid payment limit per day, which is the maximum amount that you
can send out per day from your account, not including transfers between accounts,
is $20,000.00.
c. Maximum amount allowed per item, which is the maximum amount you can pay
on a single item, is $9,999.99.
d. Minimum amount allowed per item, which is the minimum amount that a customer
can pay on a single item, is $1.00
(F) Delivery of Your Payments. Although you can enter payment information through the Online Services 24 hours a day, 7 days a week, payments can be "initiated" only on business days. Each day, around 8:00 P.M. CST, Monday through Friday, New South consolidates all of the bill payments from its customers and performs several editing functions to verify that payment information is correct. The following business day after we submit the payment request, we determine if your payee will accept your payment electronically or if a check needs to be sent. Once this is determined, your payment is sent and the funds are deducted from your Designated Account. Typically the funds are deducted from your Designated Account two business days following the Transmit Date.
After funds are withdrawn from your Designated Account, we may remit your
payments by mailing your payee a check drawn on an account we maintain for
this purpose, by electronic funds transfer, or by other means. Because of
the time it takes to transmit your payment to the payee, payees will not receive
payment on the Transmit Date (the date you instructed us to deduct the funds
from your Designated Account). Therefore, in order to provide sufficient time
for payments to be received by your payee, the Transmit Date should be a date
at least seven (7) business days before the actual due date of each bill.
We will not be responsible for any loss you may incur as a consequence of
late payment if your Transmit Date was not at least seven (7) business days
prior to the actual due date for a bill.
Please remember that the Transmit Date is not the day your payee will receive
your payment. It is the day the bill payment process begins. The payment still
must be processed and sent by electronic funds transfer or through the mail.
Online bill payments are transmitted Monday through Friday, so PLAN AHEAD
and, please remember weekends and holidays.
(G) Payment Guarantee. If the Bank does not properly complete
an Online Bill Payment on time or for the correct amount, we will reimburse
you for late payment fees, finance charges or penalties up to a maximum of
$50 per scheduled payment to a Business Payee under the following conditions:
(a) your account is in good standing with the Business Payee; (b) we fail
to make a scheduled payment according to the guidelines specified in Paragraph
F above; or (c) we fail to stop a payment (see I., below) pursuant to your
timely, written request to do so. In order for you to receive a reimbursement,
the late payment fee or penalty, or the method of its calculation, must be
published by the payee prior to the actual due date for the bill and the
payee
must be a Business Payee. The Bank will not be responsible for any charges
imposed or other action taken by a payee resulting from a payment that you
have not scheduled properly, including any applicable finance charges or
late fees. Additionally, the Bank will not be liable if any third party
to whom
any Online Bill Payment is made fails to properly transmit the payment to
the intended payee. We will also not be liable if there are insufficient
funds
or insufficient credit availability in your Designated Account and/or Overdraft
Protection Advance Account; if a legal order directs us to prohibit withdrawals
from the Designated Account; if the Designated Account is closed or frozen;
or if any part of the Bank’s electronic funds transfer system is not
working properly. The Bank will not be liable for indirect, special or
consequential
damages out of any use of the Online Services. You must: (a) properly schedule
the payment Transmit Date at least seven (7) business days prior to the
actual
due date for each bill; (b) provide us with the correct Payee name, address,
and account information, and with the correct payment amount; and (c) ensure
your Designated Account has sufficient funds to complete the payment. Note:
The Bank has the right to refuse a transaction if the Bank reasonably believes
such refusal is necessary for security reasons.
(H) Changing or Canceling Payments. You may review, change
or cancel scheduled future or recurring payments up until 8:00 p.m. Central
Standard Time on the Transmit Date. To change or delete a payment: (1) select
the "Bill Payment" button on the left side of the screen; (2)
select the "Pending Payments" button - a report of all pending
payments will appear; (4) to delete a payment, select the "Cancel" button
next to the payment on the report; to change a payment, select "Edit"
next to the payment you wish to change and make the appropriate changes on
the screen and then select "Submit". If you selected "Cancel",
you will be asked to confirm your instruction to delete by clicking "ok"
or "Cancel". A canceled payment will not appear on your Transaction
Record. Remember, if you delete a recurring payment, your regular payment
schedule will not resume with your next previously scheduled payment. Future,
additional recurring payments will not be made. You can, however, modify
the
frequency of your payments by changing your "Schedule Payment" option
for the Payee; your payment scheduling options are: one-time, weekly, bi
weekly,
semi-monthly, monthly, bi-monthly, quarterly, semi-annually or annually.
(I) Stop Payments. Electronic payments initiated by you
under either the Online Services or by telephone or mail request cannot be
stopped
once they have been initiated. Stop payment orders and requests for re-issuance
of check payments will be accepted by the Bank beginning 5 business days
after
the Transmit Date. In situations where it is apparent that the payment is
going or has gone to the wrong address, wrong payee, etc., the Bank will
accept
stop payments orders and requests for re-issuance immediately. All requests
for stop payments will incur a stop payment fee in the amount stated on
the
Fee Schedule in effect at the time of the request. All payments stopped due
to the Bank’s error will be at the expense of the Bank.
(J) Rejected Payments. If a payment is rejected for any
reason, the Bank will attempt to contact you for resolution, if necessary.
If you
do not provide information within five (5) business days, the Bank will issue
a credit to you for the amount of the payment.
(K) Insufficient Funds. If you have insufficient funds
on the day a Scheduled Payment is to be deducted from your Designated Account,
the payment will not be made. You will also be assessed an insufficient funds
check charge in the amount stated on the Fee Schedule in effect on the date
the payment was scheduled to be made. Online Bill Payment is no different
than writing the check yourself - when a check clears or an Online Bill
Payment
clears your account the funds to cover that item are required to be in your
Designated Account.
(L) Statements. All of your payments made through the Online
Service will appear on your monthly account statement(s). You can also view
up to 12 months of history on a specific payee by selecting the Bill Payment
on the left side of the screen and then selecting the Reports" button.
(M) Service Fees. You agree to pay the Bank any service
fees specified in the Truth in Savings Disclosure and the current Fee Schedule.
These fees are in addition to regular transaction fees that may be in effect
for your Deposit or Credit Account(s).
(N) Equipment. You are responsible for
obtaining, installing, maintaining and operating all computer hardware and
software necessary
for accessing and successfully performing the Online Services. This includes
all responsibility for the downloading of account information into third
party
personal financial software such as Quicken® or Microsoft® Money.
The Bank has no liability or responsibility for any errors or failures relating
to the malfunction or failure of your hardware or software.
Disclosure of Information to Third Parties. By accepting this Agreement, you authorize us to disclose information to third parties about your account(s), transfer(s) or Online Bill Payment(s) you request to be made for you through Online Services. The circumstances under which we may disclose such information to third parties are: