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Electronic
Funds Transfer
Electronic Funds Transfers Disclosure Your Rights
and Responsibilities
Revised 3/09
Indicated below are types of Electronic
Fund Transfers we are capable of handling, some of which may not
apply to your account. Please read this disclosure carefully because
it tells you your rights and obligations for the transactions listed.
You should keep this notice for future reference.
Electronic Funds
Transfers Initiated By Third Parties.
You may authorize a third party
to initiate electronic fund transfers between your account and the
third party's account. The transfers to make or receive payment may
be one-time occurrences or may recur as directed by you. These transfers
may use the Automated Clearinghouse (ACH) or other payments network.
Your authorization to the third party to make these transfers can
occur in a number of ways. For example, your authorization to convert
a check to an electronic fund transfer or to electronically pay a
returned check charge can occur when a merchant provides you with
notice and you go forward with the transaction (typically, at the
point of purchase, a merchant will post a sign and print the notice
on a receipt). In all cases, these third party transfers will require
you to provide the third party with your account number and bank
information. This information can be found on your check. Thus, you
should only provide your bank and account information (whether over
the phone, the Internet, or via some other method) to trusted third
parties whom you have authorized to initiate these electronic funds
transfers. Examples of these transfers include, but are not limited
to:
Preauthorized credits. You may make arrangements
for certain direct deposits to be accepted into your checking or
savings account(s).
Preauthorized payments. You may make arrangements
to pay certain recurring bills from your checking account(s). Electronic
check conversion. You may authorize a merchant or other payee to
make a one-time electronic payment from your checking account using
information from your check to pay for purchases or pay bills.
Electronic
returned check charge. You may authorize a merchant or other
payee to initiate an electronic funds transfer to collect a charge
in the event a check is returned for insuffcient funds.
Please also
see Limitations on frequency of transfers section regarding limitations
that apply to savings accounts.
Anytime Banking Telephone Transfers - types of transfers - You may access your account by telephone 24
hours a day at 815-728-4357 using your access id and security code
and touch tone phone to:
Transfer funds from checking to checking;
from checking to savings; from savings to checking; from savings
to savings or to make payments from checking to loan account(s) with
us; make payments from savings to loan account(s) with us or get
information about the account balance of checking account(s); the
last 90 days deposits to checking accounts or withdrawals from checking
accounts or the account balance of savings account(s); the last 90
days deposits to savings accounts or withdrawals from savings accounts
or the account balance of loans, CDs, and IRAs.
Please also see Limitations
on frequency of transfers section regarding limitations
that apply to telephone transfers.
ATM Transfers - types of transfers
and dollar limitations - You may access your account(s) by ATM using
your ATM card and personal identifcation number or SHAZAM®Chek
card and personal identifcation number, to:
Make deposits to checking
or savings account(s); get cash withdrawals from checking or savings
account(s) with an ATM card - generally $250.00 per day; get cash
withdrawals from checking or savings account(s) with a debit card
- generally $250.00 per day; transfer funds from savings to checking
account(s) ; transfer funds from checking to savings account(s);
get information about: the account balance of your checking accounts;
the account balance of your savings accounts .
Some of these services
may not be available at all terminals. Please also see Limitations
on frequency of transfers section regarding limitations that apply
to ATM transfers. Types of SHAZAMChek Card Point-of-Sale Transactions
- You may access your checking account(s) to purchase goods (in person,
online, or by phone), pay for services (in person, online, or by
phone), get cash from a merchant, if the merchant permits, or from
a participating financial institution, and do anything that a participating
merchant will accept.
Point-of-Sale Transactions - dollar limitations - Using your card: Generally, you may not exceed $750.00 in transactions
per day. Please also see Limitations on frequency of transfers section
regarding limitations that apply to debit card transactions.
Currency
Conversion and Cross-Border Transaction Fees. If you e ect
a transaction with your SHAZAMChek card in a currency other than
US Dollars, MasterCard will convert the charge into a US dollar amount.
The MasterCard currency conversion procedure includes use of either
a government-mandated exchange rate, or a wholesale exchange rate
selected by MasterCard. The exchange rate MasterCard uses will be
a rate in e ect on the day the transaction is processed. This rate
may di er from the rate in e ect on the date of purchase or the date
the transaction was posted to your account. MasterCard charges us
a Currency Conversion Assessment of 20 basis points (.2% of the transaction)
for performing the currency conversion. In addition, Master Card
charges us an Issuer Cross-Border Assessment of 80 basis points (.8%
of the transaction) on all cross-border transactions regardless of
whether there is a currency conversion. As a result, we charge you
a Currency Conversion fee of .2% and a Cross-Border Transaction fee
of .8%. The Cross-Border Transaction fee is charged on all cross-border
transactions regardless of whether there is a currency conversion.
A cross-border transaction is a transaction processed through the
Global Clearing Management System or the MasterCard Debit Switch
in which the country of the merchant is di erent than the country
of the cardholder.
**Additional Limits: on liability for Debit Card
when used for point-of-sale transactions: MASTERCARD – You will not be liable for any unauthorized transactions
using your MasterCard debit card when used for point-of-sale transactions,
if: (i) you can demonstrate that you have exercised reasonable care
in safeguarding your card from the risk of loss or theft, (ii) you
have not reported to us two or more incidents of unauthorized use
within the prior twelve-month period, and (iii) your account is in
good standing.
**If any of these conditions are not met, your liability
is the lesser of $50 or the amount of money, property, labor, or
services obtained by the unauthorized use before notification to
us.
**This additional limit on liability does not apply to ATM transactions
or to transactions using your personal identification number which
are not processed by MasterCard.
Advisory Against Illegal Use. You
agree not to use your card(s) for illegal gambling or other illegal
purposes. Display of a payment card logo by, for example, an online
merchant does not necessarily mean that transactions are lawful in
all jurisdictions in which the cardholder may be located.
Online
Banking Transfers - types of transfers
- You may access your account(s)
by the internet by logging onto our website at www.thestatebankgroup.com
and using your user identification and your password, to:
Transfer
funds from checking to checking; from checking to savings; from savings
to checking; from savings to savings or to make payments from checking
to loan account(s) with us; make payments from savings to loan account(s)
with us or get information about the account balance of checking
account(s); the last 90 days deposits to checking accounts or withdrawals
from checking accounts or the account balance of savings account(s);
the last 90 days deposits to savings accounts or withdrawals from
savings accounts or the account balance of loans, CDs, and IRAs.
Please also see Limitations on frequency of
transfers section regarding
limitations that apply to internet transfers. Limitations on frequency
of transfers. In addition to those limitations on transfers elsewhere
described, if any, the following limitations apply:
Current federal
regulations restrict the number of transactions that you can make
from certain types of accounts, such as Money Market and Savings
Accounts. For these types of accounts, you may not make more than
six (6) convenient transfers per month and no more than three (3)
of these transfers can be pre-authorized electronic transfers, which
include computer initiated transfers, telephone transfers, checks,
and point-of-sale transactions during a given monthly statement period.
Transfers and Bill Payments authorized by personal computer through
the Service are counted toward the three pre-authorized electronic
transfers permitted monthly. Federal regulations currently place
no limits on the number of transfers or Bill Payments from your Checking
accounts, therefore this financial institution currently limits the
Bill Payment Service to only Checking Accounts.
FEES
We do not charge
for direct deposits to any type of account. Please refer to your
account disclosure for additional information about fees. We charge
$10.00 to replace an ATM or debit card.
ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by
the ATM operator or any network used (and you may be charged a fee
for a balance inquiry even if you do not complete a fund transfer).
DOCUMENTATION
Terminal transfers. You can get a
receipt at the time you make any transfer to or from your account
using one of our automated teller machines or point-of-sale terminals.
(Note: A receipt may not be provided if the transaction is $15 or
less.)
Preauthorized credits. If you have
arranged to have direct deposits made to your account at least once
every 60 days from the same person or company, you can call us at
815-728-8000 to find out whether or not the deposit has been made.
Periodic statements. You will get a monthly account statement from
us for your checking accounts. You will get a monthly account statement
from us for your statement savings accounts (Note: A receipt may
not be provided for transaction amounts of $15 or less).
PREAUTHORIZED
PAYMENTS
Right to stop payment and procedure for doing so. If you
have told us in advance to make regular payments out of your account,
you can stop any of these payments. Here is how:
Call or write us
at the telephone number or address listed in this disclosure in time
for us to receive your request 3 business days or more before the
payment is scheduled to be made. If you call, we may also require
you to put your request in writing and get it to us within 14 business
days after you call. We will charge you $25.00 for each stop-payment
order you give.
Notice of varying amounts. If these regular payments
may vary in amount, the person you are going to pay will tell you,
10 business days before each payment, when it will be made and how
much it will be. (you may choose instead to get this notice only
when the payment would di er by more than a certain amount from the
previous payment, or when the amount would fall outside certain limits
that you set.)
Liability for failure to stop payment of preauthorized
transfer. If you order us to stop one of these payments 3 business
days or more before the transfer is scheduled, and we do not do so,
we will be liable for your losses or damages.
Passbook account where
the only possible electronic funds transfers are preauthorized credits. If you bring your passbook to us, we will record any electronic deposits
that were made to your account since the last time you brought in
your passbook.
FINANCIAL INSTITUTION'S LIABILITY
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 you have an overdraft line and the
transfer would go over the credit limit.
• If the automated
teller machine 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 transfer, despite reasonable precautions that we may have taken.
There may be other exceptions stated in our agreement with you.
CONFIDENTIALITY
We will disclose information to third parties about your account
or the transfers you make:
where it is necessary for completing transfers;
or
• in order to verify the existence and condition of your
account for a third party, such as a credit bureau or merchant; or
• in
order to comply with government agency or court order; or
• if
you give us your written permission.
UNAUTHORIZED TRANSFERS
Consumer
Liability. Consumer Liability: Tell us AT ONCE if you believe
your card or personal identification number (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 2 business days after you learn of
the loss or theft of your card or personal identification number
(PIN), you can lose no more than $50 if someone used your card or
personal identification number (PIN) without your permission.
If you
do NOT tell us within 2 business days after you learn of the loss
or theft of your card or personal identification number (PIN), and
we can prove we could have stopped someone from using your card or
personal identification card (PIN) without your permission if you
had told us, you could lose as much as $500.
For the SHAZAMChek card
if you notify State Bank Group or SHAZAM within 48 hours of discovering
your SHAZAMChek card lost or stolen you are liable for nothing. If
you notify The State Bank Group after 48 hours you are liable for
the first $50.00 of disputes SHAZAM’s toll free number is (800)
383-8000
Also, if your statement shows transfers that you
did not make, including those made by card, personal identification
number (PIN) or other means, tell us at once. If you do not tell
us within 60 days after the statement was mailed to you, you may
not get back any money you lost after the 60 days 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 long trip or a hospital
stay) kept you from telling us, we will extend the time periods.
Contact in event of unauthorized
transfer. If you
believe your card and/or personal identification number (PIN) has
been lost or stolen call us @ 815-728-800 or write us at the address
listed @ the end of this disclosure. You should also call the number
or write to the address listed in this disclosure if you believe
a transfer has been made using the information from your check without
your permission.
Business days. For purposes of these disclosures,
our business days are Monday through Saturday. Holidays are not included.
The hours to report unauthorized transfers or errors on statements
are:
Monday through Thursday 8:00 am to 5:00 pm
Friday
8:00 am to 7:00 pm
Saturday 8:00 am to 12:00 pm
ERROR RESOLUTION
NOTICE
ERROR RESOLUTION IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR
ELECTRONIC TRANSFERS, TELEPHONE US AT (815) 728-8000 or write us
as soon as you can at The State Bank Group, 7526 Hancock Dr., P.O.
Box 350, Wonder Lake, IL 60097-0350. 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 send the FIRST statement on which the
problem or error appeared. (a) Tell us your name and account number
(b) Describe the error or the transfer about which you are unsure,
and explain as clearly as possible why you believe it is an error
or why you need more information (c) Tell us the dollar amount of
the suspected error. If you tell us orally, we may require that you
send your complaint or question in writing within ten (10) business
days. We will determine whether an error occurred within 10 business
days after we hear from you and will correct any error promptly.
If we need more time, however, we may take up to 45 days to investigate
your complaint or question.
If we decide to do this, we will credit
your account within 10 business days (5 business days if the transfer
involved a MasterCard point-of-sale transaction), 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. For errors involving new accounts, point-of-sale,
or foreign-initiated transactions, we may take up to 90 days to Investigates
your complaint or question. For new accounts, we may take up to 20
business days to credit your account for the amount you think is
in error.
We will tell you the results within three business
days after completing our investigation. If we decide that there
was not an error, we will send you a written explanation. You may
ask for copies of the documents that we used in our investigation.
You can contact us at the following:
The State Bank Group
7526 Hancock Dr., P.O. Box 350
Wonder Lake, IL 60097-0350
All locations, call 815-728-8000
• Wonder Lake State Bank (East), 7526 Hancock
Drive, Wonder Lake, IL 60097
• Wonder Lake State Bank (West), 3316 Thompson Road, Wonder Lake,
IL 60097
• Lakemoor State Bank, 500 Route 120, Lakemoor, IL 60050
• Johnsburg State Bank, 3503 Chapel Hill Road, Johnsburg, IL 60050
• Spring Grove State Bank, 7500 Meyer Road, Spring Grove, IL 60081
• Hebron State Bank, 9600 Main Street, Hebron, IL 60031
Business hours to report unauthorized transfers or errors on statements
are:
Monday through Thursday 8:00 am to 5:00 pm, Friday 8:00 am to 7:00
pm, Saturday 8:00 am to 12:00 pm
Electronic
Funds Transfer (PDF)
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