Internet Banking User Agreement

This Agreement describes Your rights and obligations as a user of the Internet Banking or the Internet Banking Bill Payment Service. It also describes the rights and obligations of First Federal Bank. Please read this Agreement carefully. By requesting and using one of these Services, You agree to comply with the terms and conditions of this Agreement.

Definitions

The following definitions apply to this Agreement: “Internet Banking” is the Internet-based banking service providing access to Your First Federal Bank account(s).

  • “Internet Banking Accounts” means any First Federal Bank account(s) from which You will be conducting transactions using our Service.
  • “Internet Banking Bill Pay Account” means any First Federal Bank checking account(s) from which you have designated Internet Banking Bill Payments.
  • ” Password” is the system-generated code sent to You by First Federal Bank for use during the initial sign-on, or the codes You select after the initial sign-on, that establishes Your connection to the Service.
  • ” Time of day” references are to Central Standard Time or Central Daylight Time, as applicable.
  • We,” “Us” or “First Federal Bank” refer to which offers the Service and which offers the accounts accessed by the Service.
  • ” You” and “Your” refers to any person(s) or business that signed the agreement requesting the Internet Banking Service or the Internet Banking Bill Pay Service.

Access to Services

First Federal Bank will provide on-line instructions on how to use the Internet Banking Service or Internet Banking Bill Pay Service. You will gain access to Your Internet Banking Accounts through the use of Your Internet-enabled device, Your Internet Service Provider, Your Password and Your Personal Identification number.

Use of Your Security Password

You agree not to allow anyone to gain access to the Service or to let anyone know Your Password used with the Service. Should there be a breach in the use of your security password, you agree to assume responsibility for all transactions up to the limits allowed by applicable law. First Federal Bank cannot guarantee and is not liable for breaches in Internet security.

If Your Password has been Lost or Stolen

If Your Password has been lost or stolen, promptly (within 2 days) call 1-615-446-2822, 8:00 a.m. to 4:30 p.m., Monday through Thursday, 8:00 a.m. to 6:00 p.m., Friday. (except holidays). Telephoning First Federal Bank is the best way of minimizing Your losses.

If Your Statement Shows Transfers that You did not Make

If Your statement shows transfers that You did not make through the Internet Banking system, please notify us immediately by calling First Federal Bank, 8:00 a.m. to 4:30 p.m., Monday through Thursday, 8:00 a.m. to 6:00 p.m. Friday. (615) 446-2822. (except holidays).

If You do not notify First Federal Bank within 60 days after the statement was mailed to You, You may not recover any money lost after 60 days which would not have been lost if First Federal Bank had been notified in time.

BANKING TRANSACTIONS WITH INTERNET BANKING

In addition to viewing account information, You may use Internet Banking to conduct the following transactions:

Transfer Funds among Your checking accounts, savings accounts and money market accounts.  Transfers must be made before 4:00 p.m. CST to post for that business day.  EXTERNAL Banking transfers must be made before 11:00 a.m. CST to post for that business day.  NOTE: Because regulations require First Federal Bank to limit preauthorized transfers (including Internet Banking Transfers), limitations may apply.  You also cannot transfer funds from your corporate business account to your personal checking account.

The titles and signers of both preauthorized accounts involved in a transfer must be the same. However, the Bank may, at its discretion, accept an authorization involving an individual account and a joint account where the signer on the individual account is also a signer on the joint account.

New Services may be introduced for Internet Banking from time to time. First Federal Bank will notify You of the existence of these new services. By using these Services when they become available, You agree to be bound by the rules, which will be made available to You concerning these services.

Internet Banking Errors and Questions

In case of errors or questions regarding First Federal Bank Internet Banking, contact the Internet Banking Representative, 8:00 a.m. to 4:30 p.m., Monday through Thursday, 8:00 a.m. to 6:00 p.m. Friday. (except holidays) at (615) 446-2822.

We must hear from You at the specified telephone number no later than 60 days after we sent You the FIRST statement on which the problem or error appeared.

We will need:

  1. Your name and account number (if any).
  2. A description of the error or the transfer in question and an explanation concerning why You believe it is an error or need more information.
  3. The dollar amount of the suspected error and date on which it occurred.

If the report is made orally, We will notify You with the results of the investigation within ten (10) business days and will correct any error promptly. If more time is needed, however, we will notify You in writing and may take up to 45 days to investigate a complaint or question. If this occurs, we will credit Your account within ten (10) business days for the amount You think is in error. This will allow You to use the money during the time it takes us to complete our investigation. If we determine that no error occurred, we will send You a written explanation after the investigation is complete. You may request copies of the documents that were used in the investigation. You agree that First Federal Bank may respond to You by electronic mail with regard to any claim of unauthorized electronic fund transfer related to the service. Any such electronic mail sent to You by First Federal Bank shall be considered received within three (3) business days of the date sent by First Federal Bank, regardless of whether or not You access the Service within that time frame.

INTERNET BANKING BILL PAYMENT SERVICE

The Internet Banking Bill Payment Service (“Internet Banking Bill Pay”) permits You to use Your Internet-enabled device to direct payments from Your designated Internet Banking Bill Pay Account to third parties You wish to pay. Your Internet Banking Bill Pay Account must be a CHECKING ACCOUNT. Through the Internet Banking Bill Pay, You can pay bills from Your Internet Banking Bill Pay Account to businesses or individuals. First Federal Bank reserves the right to use an outside third-party company(ies) to provide processing of Internet Banking Bill Pay requests.  Each Business day, bill payments received or scheduled for that processing day must be received by 3:00 p.m. CST to be processed.  You have the options of scheduling three (3) types of payments to payees:  (1) recurring, (2) automatic, or (3) variable.  Recurring payments are payments of a fixed amount paid on a regular time interval: such as, but not limited to, monthly rent or mortgage payments.  Once a recurring payment is set up, the internet banking bill pay service will automatically execute bill payments according to the  instructions until it is canceled or changed.  Automatic payments are based on the receipt of an e-bill.  Internet Banking Bill Pay Service establishes business rules for payment action for each payee that is enrolled in e-Bill Service.  Variable payments are payments that may vary in amount and/or date and are individually initiated by each person.  Once variable payment is set up, the Internet Banking Bill Payment Service will execute the bill payment instructions according to the End User’s instructions for each individual payment.

Internet Banking Bill Payment Service will establish, and from time to time, modify payment limits.  Payment limits are set at an individual transaction level, as well as a daily cumulative total for each End User.  Payment limits apply equally to all Customers.  Payment limits are established at $9,999.99 for an individual payment and $20,000.00 daily cumulative for each customer.

Internet Banking Bill Payment Service may set a per-transaction limit on the value of electronic payments, above which payments must be disbursed via check, unless the payee is capable of accepting electronic reversal transactions, or in case the payee has no valid postal address in the database.

The Internet Banking Bill Payment System will execute the delivery of all payments as instructed by a customer in good standing unless one or more of the following conditions occurs:  (1) erroneous or incomplete information is provided by the customer; (2) the payment was insufficiently funded; (3) a payee cannot or will not accept a payment delivered by the bill pay provider; (4) the payment is suspected of being fraudulent; or (5) the payee is suspected blocked entity.

The Internet Banking Bill Payment System will remit credits to payees within one (1) business day after the payment processing date, providing bill pay receives the request by the established cut-off time as defined in the Service Level Schedule.  Average length of time from customer payment request and receipt of payment by payee will be five (5) business days for check payments (subject to U.S. Postal Services) and three (3) business days for electronic payments (subject to the rules and performance of the electronic transmission service provider).

Overnight Payment options.  Overnight payments will be processed on the same day providing they are received by the 3:00 p.m. CST cut off time.  The payments will also depend on the payee capibilities to accept overnight payments.  Overnight payments to P.O. Boxes, AK, HI or any foreign US territory outside the 48 states and District of Columbia are not allowed.  You, the consumer, are responsible for putting in a valid overnight mailing address to ensure payments proper delivery.  The fees for overnight payments are as follows:  Overnight Check payments are $19.95.  Automatic or E-Payments are $4.95.

In the case of a returned Internet Banking bill pay debit due to insufficient funds (NSF) or other ACH return reason, Bill Pay will automatically block the User’s access to payment services.  All unprocessed scheduled payments will be cancelled.  To collect funds for the NSF payment, bill pay may attempt any of the following, retry the debit, stop payment if the payment is made by bill pay check, or reverse the payment back to the payee when allowed.  If the funds are collected and no additional debit returns have been received after five (5) business days, the User’s payment services will be unblocked. The User must reschedule any payments that were cancelled due to a blocked condition.  If the Customer is utilizing direct checks, checks drawn on User accounts, payment services are not blocked, and Internet banking bill pay system takes no responsibility to collect NSF funds.

All payments You make will be deducted from the checking account that You designate as Your Internet Banking Bill Pay Account for the Internet Banking Bill Pay Service. Any payments You wish to make through Internet Banking Bill Pay must be payable in U.S. dollars to a payee with a mailing address located in the continental United States. We reserve the right to restrict types of payees to whom payments may be made using Internet Banking Bill Pay from time to time. You may not use Internet Banking Bill Pay to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments. Payments to these payees will be Your sole responsibility if delayed or improperly processed or credited.

Funds must be available in Your Internet Banking Bill Pay Account on the requested payment date. After funds are withdrawn from Your Internet Banking Bill Pay Account to make a payment, we may make the payment either by transferring funds electronically to the payee or by mailing the payee a check.

First Federal Bank is only responsible for exercising ordinary care in processing and sending payments upon Your authorization in accordance with this Agreement. First Federal Bank will not be liable in any way for damages You incur if You do not have sufficient funds in Your Internet Banking Bill Pay Account to make the payment on the processing date, for delays in mail delivery, for accuracy of vendor address, for the failure of any payee to correctly account for or credit the payment in a timely manner, or for any other circumstances beyond the control of First Federal Bank.

Internet Banking Bill Pay Service Errors and Questions

In case of errors or questions regarding First Federal Bank Internet Banking Bill Pay, call a Customer Service Representative at 1-615-446-2822.

We must hear from You at the specified telephone number no later than 60 days after we sent You the FIRST statement on which the problem or error appeared. We will need:

  1. Your name and account number (if any).
  2. A description of the error or the transfer in question and an explanation concerning why You believe it is an error or need more information.
  3. The dollar amount of the suspected error and date on which it occurred.

If the report is made orally, We will notify You with the results of the investigation within ten (10) business days and will correct any error promptly. If more time is needed, however, we will notify You in writing and may take up to 45 days to investigate a complaint or question. If this occurs, we will credit Your account within ten (10) business days for the amount You think is in error. This will allow You to use the money during the time it takes us to complete our investigation.

If we determine that no error occurred, we will send You a written explanation after the investigation is complete. You may request copies of the documents that were used in the investigation. You agree that First Federal Bank or its representative may respond to You by electronic mail with regard to any claim of unauthorized electronic fund transfer related to the Service. Any such electronic mail sent to You by First Federal Bank or its representative shall be considered received within three (3) business days of the date sent by First Federal Bank or its representative, regardless of whether or not You access the Service within that time frame.

Electronic Mail

If You send First Federal Bank an electronic mail message, First Federal Bank will be deemed to have received it on the following business day. You agree to allow First Federal Bank to have a reasonable time to act on Your e-mail.

You should not rely on electronic mail if You need to communicate with First Federal Bank immediately – for example, if You need to report an unauthorized transaction from one of Your accounts or if You need to stop a check payment that has already been sent, or report a lost or stolen debit card.

You agree that First Federal Bank may respond to You by electronic mail with regard to any matter related to the Service, including responding to any claim of unauthorized electronic funds transfer that You make. Any such electronic mail sent to You by First Federal Bank shall be considered received within three (3) business days of the date sent by First Federal Bank, regardless of whether or not You access the Service within that time frame.

Other Agreements

In addition to this Agreement, You and First Federal Bank agree to be bound by and comply with the requirements of the agreements applicable to each of Your Internet Banking Accounts. Your use of the Internet Banking Service or the Internet Banking Bill Pay Service is Your acknowledgment that You have received these agreements and intend to be bound by them. You should review other disclosures You receive when You open Your accounts at First Federal Bank. Such disclosures include the charges that may be imposed for electronic funds transfers, as well as the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule at the end of this Agreement. We will automatically deduct the fees related to this Service from Your Account each month.

Hours of Operation

The On-line Service is intended to be available 24 hours a day, seven (7) days a week, except during special maintenance periods. However, if the Service is down First Federal Bank has no liability. For purposes of transactions, First Federal Bank business days are Monday through Friday, excluding holidays. All Internet Banking transaction requests received on Saturdays, Sundays, holidays or days of inclement weather on which First Federal Bank chooses to remain closed, will be processed on the next First Federal Bank business day.

Modifications to this Agreement

First Federal Bank may modify the terms and conditions applicable to either Service from time to time upon mailing or delivering a notice of the modifications to You at the address shown on our account records and the revised terms and conditions shall be effective at the earliest date allowed by applicable law. We may send any notice to You via electronic mail and You will have deemed to have received it three (3) business days after it is sent. We reserve the right to terminate this Agreement and Your use of the Service in whole or in part at any time without prior notice.

Statements

You will continue to receive Your regular account statement(s) either monthly or quarterly, depending on the type of account.

Our liability for failure to make a transfer

We will not be liable in the following instances:

  1. If through no fault of First Federal Bank, You do not have enough money in Your Account to make the transfer.
  2. If circumstances beyond First Federal Bank control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevent the transfer, despite reasonable precautions that we have taken.
  3. If there is a hold on Your Internet Banking Account, or if access to Your Internet Banking Account is blocked, in accordance with banking policy.
  4. If Your funds are subject to legal process or other encumbrance restricting the transfer.
  5. If Your transfer authorization terminates by operation of law.
  6. If You believe someone has accessed Your accounts without Your permission and You fail to notify First Federal Bank immediately as set forth in this agreement.
  7. If You have not properly followed the scheduling instructions on how to make a transfer as included in this agreement.
  8. If We have received incomplete or inaccurate information from You or a third party involving the account or transfer.
  9. If We have a reasonable basis for believing that unauthorized use of Your Password or Internet Banking Account has occurred or may be occurring; if You default under this Agreement, the deposit account agreement, a credit agreement or any other agreement with us; or if We or You terminate the Service.

You agree that in no event shall We be liable for damages in excess of Your actual loss due to our failure to complete a transfer, and We will not be liable for any incidental or consequential damages.

If any of the circumstances listed in subparagraph two (2) or eight (8) above shall occur, we shall assist You with reasonable efforts in taking appropriate corrective action to reprocess the transactions that may not have been completed or to correct incorrect transactions that have been processed.

Disclosure of information to third parties

We will disclose information to third parties about Your Internet Banking Account or the transfers You make:

  1. where it is necessary for completing transfers; or
  2. in order to verify the existence and condition of Your Internet Banking Account for a third party, such as a credit bureau or merchant; or
  3. in order to comply with government or court orders.

Termination

You are responsible for complying with all the terms of this Agreement and with the terms of the agreement governing the deposit accounts which You access using electronic banking services. We can terminate Your electronic banking privileges (including the Internet Banking Bill Pay Service) under this Agreement without notice to You if You: Do not pay any fee required by this Agreement when due. Do not comply with the agreement governing Your deposit or loan accounts. Your accounts are not maintained in good standing. We will promptly notify You if we terminate this Agreement or Your use of the services for any other reason.

Inactivity

If You are not paying a monthly service charge for the Service, we may convert Your account to inactive status if You do not sign on to the Service or do not have any transaction scheduled through the Service during any consecutive 90 day period. If Your account is considered inactive, You must contact us to have the Service activated before You will be able to schedule any transaction through the Service.

Cancellation

To cancel the Internet Banking and/or Internet Banking Bill Pay Service, You must notify First Federal Bank and provide Your name; address; whether You are discontinuing Internet Banking, Internet Banking Bill Payment or both; You must notify us at least ten (10) business days prior to the date on which You desire the service to be terminated. When Internet Banking Bill Payment is terminated, any prescheduled bill payments made through Internet Banking will also be terminated. Final fees will be assessed through your normal statement cycle. You may notify First Federal Bank by one of the following methods:

  1. By calling 1-615-446-2822, 8:00 a.m. to 4:30 p.m., Monday through Thursday, and 8:00 a.m. to 6:00 p.m. Friday. (except holidays); and requesting the Internet Banking Administrator.
  2. By writing a letter and sending it to the following address:

First Federal Bank
Attention: Internet Banking Administrator
611 East College Street
Dickson, TN 37055

  1. By sending an e-mail to support@ffbtn.com

 

Fee schedule

First Federal Bank offers the benefits and convenience of the Internet Banking Service and Bill Pay to you at no charge. Fees may be subject to change and you will be notified within 30 days of doing so.

Bill Payment Fees

Bill payment is free service to you.  First Federal Bank may charge a Return NSF fee $30.00 per item, or Stop payment fee $25.00 per item.

611 EAST COLLEGE ST.  *  DICKSON, TENNESSEE 37055  *  615-446-2822  *  FAX:  (615)446-3200

 

Revised: 09/21/2007