Online Banking Disclosure

SHAREPLUS FEDERAL BANK

SERVICES TERMS AND CONDITIONS

The following terms and conditions govern the manner in which SharePlus Federal Bank (Us, We, Our) will provide Online Banking and Bill Payment Services (Services) to You:

Online Banking or Bill Payment Services Customer

Customer Service is available at 1-800-352-8257 during the bank’s normal banking hours. After hours and Sunday calls are answered by a voice mail system.

Additionally, Customers may call 866-748-9326 for assistance with bill pay questions during the following hours:

· Monday – Friday: 6:00 AM - 10:00 PM CT

· Saturday: 7:00 AM - 4:00 PM CT

· Sunday: Closed

Mail may also be addressed to:
Customer Service Information
SharePlus Federal Bank
5224 W. Plano Parkway
Plano, Texas 75093

Services

You authorize Us to utilize a third party vendor to provide the Services to You on Our behalf.

Payment of taxes or court directed payments via the Services is prohibited.

We reserve the right to refuse to make any payment and/or transfer, but will notify you of any such refusal within two (2) business days following receipt of your payment and/or transfer instruction.

Funds will arrive at Your targeted Merchant and/or Account as close as reasonably possible to the date designated by You in Your payment and/or transfer instruction (Payment Date). Subject to the terms and conditions of this Agreement, You authorize Us, and any third party acting on Our behalf, to choose the most effective method to process Your payment and/or transfer, including, without limitation, electronic, paper or some other draft means. For each properly instructed payment to an eligible Merchant and/or transfer to a targeted Account You will receive a transaction confirmation number (Confirmation Number).

The Payment Date indicated by You must always be a Business Day (as defined below). If it is not, the Payment Date will be deemed to be the first Business Day preceding the date indicated.
UNLESS YOU RECEIVE A CONFIRMATION NUMBER, WE SHALL NOT BE LIABLE FOR ANY FAILURE TO MAKE A PAYMENT AND/OR TRANSFER, INCLUDING ANY FINANCE CHARGES OR LATE FEES INCURRED AS A RESULT. IT IS ALSO IMPORTANT THAT THE PAYMENT DATE BE ON OR BEFORE THE MERCHANT DUE DATE, NOT THE LATE DATE, AND, SINCE THE TIME FOR US TO PROCESS YOUR PAYMENT VARIES ACCORDING TO EACH PARTICULAR MERCHANT, YOU MUST BECOME FAMILIAR WITH THE PAYMENT PROCESSING TIME FOR EACH MERCHANT YOU DESIRE TO PAY, AND ALLOW THE APPROPRIATE NUMBER OF BUSINESS DAYS BETWEEN THE DAY YOU INPUT YOUR PAYMENT INSTRUCTION AND THE PAYMENT DATE. SUBJECT TO THE LIMITATION DISCUSSED BELOW, IF YOU FOLLOW THE PROCEDURES DESCRIBED IN THIS AGREEMENT FOR PAYMENTS, AND YOU ARE ASSESSED A PENALTY OR LATE CHARGE, WE WILL REIMBURSE YOU FOR THAT LATE CHARGE UP TO A MAXIMUM OF FIFTY DOLLARS ($ 50.00 ). IN THE EVENT THAT YOU DO NOT ADHERE TO THE OBLIGATIONS SET FORTH IN THIS AGREEMENT, OR YOU SCHEDULE A PAYMENT LESS THAN THE NUMBER OF BUSINESS DAYS BEFORE THE DUE DATE REQUIRED FOR A PARTICULAR MERCHANT, YOU WILL BEAR FULL RESPONSIBILITY FOR ALL PENALTIES AND LATE FEES AND WE WILL NOT BE LIABLE FOR ANY SUCH CHARGES OR FEES. THE SERVICE ASSUMES NO LIABILITY FOR THE LATE POSTING OR MISAPPLICATION OF PAYMENT ONCE FUNDS ARE RECEIVED BY MERCHANTS. THIS ABSENCE OF LIABILITY, HOWEVER, DOES NOT PRECLUDE SERVICE FROM WORKING TO RESOLVE THESE TYPES OF ISSUES WHEN THEY ARISE. IF REQUIRED WE WILL BE RESPONSIBLE FOR PROVIDING PROVISIONAL CREDIT IF PAYMENT DISPUTES THIS ACTION.

Limitation

Under no circumstances will We be liable if We are unable to complete any payments and/or transfers initiated in a timely manner via the Services because of the existence of any one or more of the following circumstances:

1. You do not obtain Confirmation at the time You initiate a payment and/or transfer.

2. The designated Account does not contain sufficient funds to complete the payment and/or transfer.

3. You have closed the designated Account.

4. We have identified You as a credit risk and have chosen to (i) make all payments and/or transfers initiated by You via the Services utilizing a paper, as opposed to electronic, method, or (ii) to terminate Your subscription to the Services.

5. The Services, Your equipment, the software, or any communications link is not working properly and You know or have been advised by Us about the malfunction before You execute the transaction.

6. You have not provided Us with the correct information for those Merchants to whom You wish to direct payment or Accounts to which You wish to make a transfer.

7. The Merchant mishandles or delays handling payments sent by Us.

8. Circumstances beyond our control (such as, but not limited to, fire, flood, or interference from an outside source) prevent the proper execution of the transaction and We have taken reasonable precautions to avoid these circumstances.

9. If the transfer would go over the credit limit of your overdraft line, if applicable.

10. If your PIN or security code has been reported lost or stolen and we have taken action to prevent payments or transfers by use of the PIN or security code.

11. If your account is legally subject to some legal process, right of offset, or encumbrance, or if the funds in your account are not immediately available for payments or transfers.

12. There may be other exceptions stated in our agreement with you.
WE ARE NOT RESPONSIBLE FOR ANY OTHER LOSS, DAMAGE OR INJURY, WHETHER CAUSED BY YOUR EQUIPMENT OR SOFTWARE, THE SERVICES, OR ANY TECHNICAL OR EDITORIAL ERRORS CONTAINED IN OR OMISSIONS FROM ANY USER GUIDE/BROCHURE RELATED TO THE SERVICES. WE SHALL NOT BE RESPONSIBLE FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE ARISING IN ANY WAY OUT OF THE INSTALLATION, USE OR MAINTENANCE OF YOUR EQUIPMENT, SOFTWARE OR THE SERVICES, EXCEPT WHERE THE LAW REQUIRES A DIFFERENT STANDARD.

Transaction Limitations

Some types of withdrawals are limited from all savings accounts and Money Market accounts to six (6) per month. This allows the Bank to comply with Federal Regulation D. During any month, You may not make more than six (6) withdrawals or transfers to another Bank account of Yours or to a third-party by means of a pre-authorized or automatic transfer or telephonic order of instruction when the transaction is on a savings or Money market account. No more than three of these transfers may be made by check, POS or electronic draft. Transfers made through the Service are included when computing the permissible number of monthly transfers made. If You exceed these transfer limitations during a month, Your Account may be subject to closure and additional fees

Payment Cancellation/Modification

Except for those transfers which are completed immediately, You may cancel or modify a payment and/or transfer up to 2:00 p.m. Eastern Time (ET) the same Business Day You schedule for payment and/or transfer.

Statements

All payments and/or transfers made via the Services will be listed on Your monthly Account statements (Statement) that you receive from Us.

New Services

We may, from time to time, introduce new services or enhance the existing Services. We shall notify You of the existence of these new or enhanced services. By using these services when they become available, You agree to be bound by the obligations concerning these services, which will be sent to You.

Care of Your Access ID and Security

You agree that You will not give your Access ID or make it available to any other person. If You believe that Your Access ID has been lost or stolen, or that someone has made payments and/or transfers using your Access ID without Your permission, notify Us IMMEDIATELY by phone any time during Customer Service hours or send an electronic message through the Service.

Your Liability for Unauthorized Payments

In order to minimize losses, You must notify Us IMMEDIATELY as provided above if you believe that your Access ID or Password has been lost or stolen. If you notify Us within two (2) Business Days after You learn of the loss or theft, your maximum liability is $50.00.

If You do NOT notify the Bank within two (2) Business Days after learning of the loss or theft of their Access ID or Password, and the Bank can prove use of Your Access ID or Password could have been prevented if You had told the Bank in time, the maximum liability is $ 500.00.

If your designated Account Statement contains payments and/or transfers that You did not make, the Bank must be notified IMMEDIATELY. If You do not notify Us within sixty (60) days after the Statement was mailed to You, You may not get back any of the money You lost 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 hospital stay or a long trip) prevented You from telling Us, We may at Our discretion, extend the time.

Errors and Questions

Contact Us as soon as possible at either the address or telephone number described above if You think that a payment and/or transfer listed on Your designated Account Statement is in error or if You need more information about a payment and/or transfer listed on the Statement. We must hear from You no later than sixty (60) days after You received the first Statement on which the problem or error occurred.

When You call or write Us, You must:

1. Tell Your name and Access ID.

2. Describe the payment and/or transfer You are unsure about (Merchant name, Account information, Transaction Date, Transaction Amount) and explain as clearly as You can why You believe it is an error or need more information. If possible, please provide Us with the Confirmation Number for these transactions.

3. Tell Us the dollar amount of the suspected error. If You tell Us orally, or by using the Services electronic mail, We may require that You send Your complaint in writing within ten (10) Business Days. We will tell You the result of Our investigation within ten (10) Business Days after We receive Your complaint and will correct any Services error promptly. If We need more time, We may take up to forty-five (45) days to investigate the complaint or question. If We decide to do this, We will recredit Your Account within ten (10) Business Days after we hear from you, for the amount You think is in error in order that You may have the use of the money during the time it takes to complete Our investigation. If We ask You to put Your question or complaint in writing and We do not receive it within ten (10) Business Days, We may not recredit Your Account.

If We decide that there was no error, We will mail or transmit to You a written explanation within three (3) Business Days after We have completed the investigation, and within ten (10) Business days of the date of such explanation, We will debit from Your account of the amount previously recredited to You for use during the time We took to complete Our investigation. You may ask for copies of documents used during Our investigation.

Disclosure of Account Information to Third Parties

We will only disclose information to third parties about Your Accounts:

1. When it is necessary for completing payments and/or transfers;

2. In order to comply with a government agency or court order; or

3. If You give us Your permission.

Charges

There is not a monthly fee for the Bill Payment Services

Fee Schedule

You agree to pay the fees to be published by the Bank from time to time as listed in the Bank’s Rate and Fee schedule.

Additional Terms and Conditions

1. In addition to the foregoing, You agree to be bound by and comply with the requirements of the Services User Guide and applicable state and federal laws and regulations. We agree to be bound by them too.

2. We reserve the right to terminate Your use of the Services, in whole or in part, at any time without prior notice. If Your Bill Pay has been inactive for a continuous period of 90 or more days, Your Bill Pay service will be removed from Your Home Banking access. This will result in deletion of all merchant account setups.

3. If You wish to cancel Your subscription to the Services, you must notify Customer Service in writing. You will be responsible for all payments and/or transfers You have requested prior to termination and for all other charges, fees, and taxes incurred.
BE SURE TO CANCEL ALL OUTSTANDING PAYMENT AND/OR TRANSFER ORDERS BEFORE YOU NOTIFY US TO TERMINATE THE SERVICE. WE WILL NOT BE LIABLE FOR PAYMENTS AND/OR TRANSFERS NOT CANCELED OR MADE DUE TO THE LACK OF PROPER NOTIFICATION BY YOU OF SERVICE TERMINATION.

4. These Terms and Conditions, the Services User Guide and applicable Services fees and charges may only be altered or amended by Us. In such event, We shall send notice to You at your listed address or transmit notice of the alteration or amendment over the Services. Your use of the Services following receipt of such notice constitutes acceptance of such alterations or amendments.

5. In the event of a dispute regarding the Services, You and We agree to resolve this dispute by looking to these Terms and Conditions. These Terms and Conditions shall supersede any and all other representations made by You or Our employees.

6. These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Texas.

7. Business Days are Monday through Friday excluding normal banking holidays.

Please Click Here to view our Privacy Policy

If you believe that there is an error on your statement please Click Here for a copy of our Error Resolution notice which contains information on reporting the error to us.

For additional information call the Customer Service Center at 1-800-352-8257.