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Lincoln Park Savings
Bank
Online Banking Agreement
1. General
This Online Banking Agreement ("Agreement") for accessing your
Lincoln Park Savings Bank account(s) via the Internet explains the
terms and conditions governing Lincoln Park Savings Bank Online
Banking and other banking services offered through Lincoln Park
Savings Bank (collectively, "Online Banking"). By using Online
Banking you agree to abide by the terms and conditions of this
Agreement. This Agreement will be governed by and interpreted in
accordance with federal law and regulation, and to the extent
there is no applicable federal law or regulation, by the laws of
the State of Illinois. The terms "our," "we," "us," "Lincoln Park
Savings Bank," and "Bank" refer to Lincoln Park Savings Bank.
"You" refers to each signer on an account. The term "business day"
means Monday through Saturday, excluding Sunday
and Federal banking holidays.
Online Banking can be used to access products and accounts made
available by Lincoln Park Savings Bank. Each of your accounts is
also governed by the applicable account disclosure statement.
2. Protecting Your Account
Notify us at once if you believe another person has improperly
obtained your Online Banking Personal Identification Number (PIN).
Also notify us if someone has transferred or you think someone may
transfer money from your account without your permission, or if
you suspect any fraudulent activity on your account. To notify us,
call Lincoln Park Savings Bank at (773) 525-2023 or write to:
Lincoln Park Savings Bank Customer Service, 1946 W. IRVING PARK
RD., CHICAGO, IL 60613. Or, email us at Webmaster@lpsb.com – be
sure to include your email address.
A. Your Liability
If your Internet PIN has
been compromised and you tell us within two (2) business days
after learning of the loss or theft, you can lose no more than $50
if someone used your Internet PIN without your permission to
access a Lincoln Park Savings Bank deposit account. If you do NOT
tell us within two (2) business days after you learn of the loss
or theft, and we could have stopped someone from taking money
without your permission had you told us, you could lose as much as
$500 of the disputed amount.
If
your monthly statement shows withdrawals, transfers or purchases
that you did not make or authorize, you must notify us at once. If
you do not notify us within sixty (60) days after the account
transaction detail information was transmitted or mailed to you,
and we could have stopped someone from taking money if you had
told us in time, you may not get back any money lost after the
sixty (60) days. If there are extenuating circumstances that kept
you from telling us, the time periods in this section may be
extended.
B. Preventing Misuse
It is extremely important
that you take an active role in the prevention of any wrongful use
of your account. If you find that your records do not agree with
ours, you must immediately call Lincoln Park Savings Bank at (773)
525-2023.
Protect Your Internet PIN - The PIN that is used to gain access to
Online Banking should be kept confidential at all times. For your
protection we recommend that you change your Internet PIN
regularly. It is recommended that you memorize this PIN and do not
write it down. You are responsible for keeping your PIN, account
numbers and other account data confidential. If you believe that
your PIN may have been lost or stolen, or that someone has
transferred or may transfer money from your account without your
permission, notify Lincoln Park Savings Bank at once.
3. Your Right to Stop Payments
A. Right to Stop Payment and
Procedure for Doing So
If you have arranged to
make regular payments out of your account, you can stop any of
these payments by using the capabilities provided in the online
web site, or by telephone at (773) 525-2023. Do not write or email
these requests to us since they may not be received by us in time.
To
stop payments for checks or preauthorized transfers the request
must be received by Lincoln Park Savings Bank 3
business days or
more before the payment is scheduled to be made. To stop payments
for online Bill Payments, the request must be made before 5:00 PM
(Pacific time) the day PRIOR to the payment date.
If
you call, we may also require you to put your request in writing
and submit it to us within 14 days after you call. We will charge
you our regular stop payment fee for each stop payment order you
give; this fee will be charged in accordance with the current fee
schedule.
4. Bank’s Liability
A. Failure to Make Stop Payments
If you order us to stop
one of these payments according to the limitations in section 3
above and we do not do so, we will be liable for your losses or
damages up to the value of the payment.
B. 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 up to the value of the transfer. However, there
are some exceptions. We will not be liable, for instance:
a) If, through no fault of ours, you do not have enough money in
your account to make the transfer;
b) If the transfer will go over the credit limit on your
Overdraft Agreement;
c) If the system was not working properly;
d) If there is a dispute about the amount to be paid or
transferred, or we have been legally ordered to pay to or hold
the money in your account for someone else;
e) If a withdrawal would consist of money deposited in the form
of a check or other order and is not yet available for
withdrawal;
f) If you have told us that your PIN was lost or stolen;
g) If, in the case of a preauthorized credit or debit to your
account, a third party does not send your money to us on time or
does not send us the correct amount, or we do not have the
required authorization to perform the transaction;
h) If circumstances beyond our control (such as fire, flood, or
natural disaster) prevent the transfer, despite reasonable
precautions and efforts we have taken.
Other exceptions may be stated in our stop payment agreement with
you.
5. Accessing Your Lincoln Park
Savings Bank Accounts
A. Requirement
To access your account(s)
through the Internet, you must have an eligible Lincoln Park
Savings Bank account, enroll in Online Banking by agreeing to the
Internet Account Access Agreement, and have an Internet PIN. In
addition, you must have the required Internet secure browser
software as defined by the Bank.
B. New Services
Lincoln Park Savings Bank may, from time to time, offer and
introduce new Internet services. The Bank will notify you of the
existence of these new products and services. By using these
services when they become available, you agree to be bound by the
rules, which will be communicated to you, concerning these
services.
C. Fees
LPSB
Online Banking is Free. Some Fees may apply. These fees are described in the
LPSB Fee
Schedule. Please note that fees may be assessed by your Internet
service provider.
6. Terms and Conditions
The first time you access
your Lincoln Park Savings Bank account(s) through the Internet
confirms your agreement to be bound by all of the terms and
conditions of this Agreement and acknowledges your receipt and
understanding of this disclosure.
A. Your Internet Account Access PIN
You will be given or you
will select an initial Internet PIN. The first time you access
your Lincoln Park Savings Bank account(s) you must select a new
PIN. We recommend that you change your PIN regularly. Do not use
numbers that are easily associated with you, such as your
telephone number, address or birth date as your PIN. You are
authorizing Lincoln Park Savings Bank to act on instructions
received under your PIN. You are responsible for keeping your PIN,
account number(s) and other account data confidential at all
times.
B. Our Liability
Except as specifically
provided for in this Agreement or where the law requires a
different standard, you agree that neither the Bank nor the
Internet Service Provider shall be responsible for any loss,
property damage or bodily injury, whether caused by the Bank,
equipment, software, or Internet access providers or any agent or
subcontractor of any of the foregoing. Nor shall the Bank or the
Internet Service Providers be responsible for any direct,
indirect, special or consequential, economic or other damages
arising in any way from the installation, use or maintenance of
the equipment, software or Internet browser or access software.
C. Changes to Fees or Other Terms
We reserve the right to
change the fees or other terms described in this Agreement.
However, when changes are made to any fees, we will notify you
on-line, or will send a notice to you at the address shown on our
records. All notices will be sent at least thirty (30) days in
advance of the effective date of the change, unless an immediate
change is necessary to maintain the security of the system. If
such a change is made, and it can be disclosed without
jeopardizing the security of the system, we will provide you with
written or electronic notice within thirty (30) days in advance of
the change. By continuing to use the accounts or services to which
these changes relate, you are accepting the changes. Changes to
fees applicable to specific accounts are governed by the
applicable Account Disclosure Statement.
D. Disclosure of Account Information
You authorize the Bank to
disclose to selected third parties about your account or the
transactions you make:
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When necessary for completing transactions; or
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In order to verify the existence and condition of your account
for a third party, such as a credit bureau, or merchant; or
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In order to comply with government agency or court orders, or to
give information to any government entity having legal authority
to request such information; or
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If you give us permission.
E. Other General Terms
In
addition to this Agreement you agree to be bound by and will
comply with the requirements of the applicable Account Disclosure
Statement, the Bank's rules and regulations, the rules and
regulations of any funds transfer system to which the Bank
belongs, and all applicable State and Federal laws and
regulations. The Bank also agrees to be bound by them.
The Bank reserves the right to terminate this Agreement and your
access to Online Banking in whole or in part, at any time without
prior notice.
If
you do not access your accounts via Online Banking for any
ninety (90)
day period, the Bank reserves the right to disconnect your
service without notice.
You agree to be responsible for any telephone charges incurred for
accessing your accounts through Online Banking.
7. Bill Payment Service
As
part of the Lincoln Park Savings Bank Online Banking, you can
schedule payment of your periodic bills. You can arrange for the
payment of current, future and recurring bills from your Lincoln
Park Savings Bank checking account. There is no limit to the
number of payments that may be authorized. You may pay any
merchant or individual approved by Lincoln Park Savings Bank.
By
furnishing us with the names of your payees/merchants and their
addresses, you authorize us to follow the payment instructions to
these payees/merchants that you provide through Online Banking.
When we receive a payment instruction (for current or future
date), we will remit funds to the payee on your behalf, from your
designated checking account, on the day you have instructed the
payment to be sent (Payment Date). However, we shall not be
obligated to make any such payment unless your account and/or
overdraft protection plan has sufficient funds or credit
availability to pay the bill on the Payment Date. Funds for ALL
bill payments (whether by check or electronic transfer) will be
withdrawn from your account on the DAY the payment is scheduled to
be SENT to the payee.
NOTE: Any payments made through Bill Payment require sufficient
time for your payee to credit your account properly. To avoid
incurring a finance charge or other charge, you must schedule a
payment far enough in advance of the due date of your payment. You
must allow seven (7) business days from the send payment date for
the check to reach the payee.
Lincoln Park Savings Bank shall not be responsible for any charges
imposed or any other action taken by a payee resulting from a
payment that you have not scheduled properly, including any
applicable finance charges and late fees. In addition, Lincoln
Park Savings Bank will not be liable if any third party through
whom any bill payment is made fails to properly transmit the
payment to the intended payee. Lincoln Park Savings Bank will not
be liable for delays or losses of payments caused by the U.S.
Postal Service or other delivery service. We will also not be
liable if there are insufficient or uncollected
funds or credit availability in
your designated payment account and/or overdraft protection plan;
if a legal order directs us to prohibit withdrawals from the
payment account; if the payment account is closed or frozen; or if
any part of the electronic funds transfer system is not working
properly. Lincoln Park Savings Bank will not be liable for bill
payments not completed due to circumstances beyond our control
(such as fire, telecommunication outages, strikes, or natural
disasters). Lincoln Park Savings Bank will not be liable for
indirect, special, or consequential damages arising out of the use
of Bill Payment. Lincoln Park Savings Bank will not be liable if a
payee will not accept payments made through Bill Payment.
Lincoln Park Savings Bank reserves the right to terminate your use
of Bill Payment at any time without prior notice.
Bill Payment Fees:
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Bill Pay - Classic with Lincoln Park Savings Bank is free for up to 15
payments per month!
-
Bill Pay - Plus is $4.99 a month
for up to 15 payments per month.
-
For each check after 15, the cost is $0.50 per check.
The Bill Payment monthly fees are effective upon enrollment. Fees
will be charged to your payment account whether or not bill
payments are made in the month.
Additional fees may also be assessed due to special requests made
by you. This includes requests for stop payments ($25 per check),
and express mailing of checks ($10 per check). A $25
negative balance fee will also be assessed if the Bill
Payment system attempts to pay a bill each time an attempt is made
but cannot due to insufficient or uncollected
funds in the account. The $25 negative
balance
fee will be assessed each time an attempt is made to pay the bill.
If
the payment account has insufficient or
uncollected funds to cover the fees, the
Bank may deduct the fee from any other transaction account linked
to Online Banking. If the fee cannot be paid, we may cancel your
Bill Payment service.
8. Other Information
A. Balance Inquiries and Transfers
You may use the service to check the balance of your accounts and
to transfer funds among your accounts selected for Online Banking.
In order to initiate one of these transactions, you must first use
your PIN to obtain access to the Service. The balance shown on
your PC may include deposits still subject to verification by us.
The balance shown also may differ from your records because it may
not include deposits in progress, outstanding checks, or other
withdrawals, or charges. Funds transfer requests may be made 24
hours per day, but may not result in immediate funds availability
because of the time required to process the files. If there are
insufficient or uncollected funds in an Account from which you are
requesting a funds transfer, the transfer will not be initiated.
Negative balance fees will be assessed as indicated in the
applicable account disclosure. For monetary transfers, the
accounts must have the same PIN number and must belong to the same
"household" of accounts.
B. Statements
All of your payments and funds transfers made through the Service
will appear on your monthly account statement(s).
C. Equipment
We are not responsible for any loss, damage or injury resulting
from an interruption in your electrical power or telephone
service; the disconnecting of your telephone line by your local
telephone company or from deficiencies in your line quality; or
any defect or malfunction of your PC, modem, or telephone line. We
are not responsible for any services relating to your PC other
than those specified in this Agreement. If any equipment failure
occurs in any way relating to your PC, modem, telephone line,
Lincoln Park Savings Bank is not responsible.
D. Business Days/Hours of Operation
Our business days are
Monday through Saturday, except
Sundays and federal holidays. The service is
available 24 hours a day, seven days a week, except during
maintenance periods for scheduling, modification, or for review of
funds transfers and balance inquiries.
9. Error Resolution Notice
A. Contact Information
In case of error or questions about your electronic transactions
contact us at (773) 525-2023 or write to: Lincoln Park Savings
Bank Customer Service, 1946 W. IRVING PARK RD., CHICAGO, IL 60613.
You may also email us at Webmaster@lpsb.com – be sure to include
your email address in the message. Contact us as soon as you can,
if you think your statement, passbook or receipt is wrong or if
you need more information about a transfer listed on the
statement, passbook or receipt. We must hear from you no later
than 60 days after the problem or error appeared on your passbook;
or no later than 60 days after we sent you the FIRST statement in
which the problem or error appeared.
1. Tell us your name and account number.
2. 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.
3. Tell us the dollar amount of the suspected error.
We
will investigate whether an error occurred within 10
business days
(5 business days for Visa-branded card point-of-sale transactions
and 20 business days if the transfer involved a new account) after
we hear from you and will correct any error promptly. If we need
more time, however, we may take up to 45 days (90 days if the
transfer involved a new account, a point-of-sale transaction, or a
foreign-initiated transfer) to investigate your complaint or
question.
If
we decide to do this, we will credit your account within 10
business days (5
business days for Visa-branded card point-of-sale
transactions and 20 business days if the transfer involved a new
account) for the amount you think is in error, so that you will
have the use of the money during the time it takes us to complete
our investigation.
If
we ask you to put your complaint or question in writing and we do
not receive it within 10 business days, we may not credit your
account as described above. Your account is considered a new
account for the first 30 days after the first deposit is made,
unless each of you already has an established account with us
before this account is opened.
We
will inform you of the results within three
business days after
completing our investigation. If we decide that there was no
error, we will send you a written explanation and reverse the
credit described above.
You may ask for copies of the documents that support our
investigation. |
