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Home : InfoCenter : Terms and Disclosures : Debit MasterCard Terms and Conditions

Debit MasterCard™ Terms and Conditions

Your Rights and Responsibilities

The Electronic Fund Transfers we are capable of handling are indicated below, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.

Preauthorized Credits

You may make arrangements for certain direct deposits (such as State of Illinois, U.S. Treasury (Social Security), Veterans Administration and payroll) 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.

Online Banking Transfers

With Online Banking you may access your account(s) by computer at www.standardbanks.com using your Access ID and Password. You may transfer funds between all of your deposit and/or loan accounts, excluding Time Deposits, IRAs and Commercial Loans. All transactions in all your accounts are available on internet banking as of 11/11/2006, or you can download to custom-made reports that you create on-line. To access your account through Personal Internet Banking, you must have an IBM/PC compatible or Macintosh computer with Microsoft Internet Explorer 6.0 or higher or Firefox 2.0 or higher. 

Using the Bill Payment System you may make payments from your Checking Account to third parties.

Mobile Banking Transfers

You may access your accounts(s) using your browser-based mobile device to log onto our Mobile Banking website and use your selected PIN to:

  • Transfer funds between linked accounts
  • Account inquiries:
    • get balance information
    • get transaction information

Please also see Limitation on Frequency of Transfers section regarding limitations that apply to computer transfers

Bank by Phone Transfers

You may access your account by telephone 24 hours a day at (708) 499-2700 or (888) 372-5900 using your personal identification number (PIN), a touch-tone phone, your account numbers, and your social security number, too. You may transfer funds between all your deposit and/or loan accounts, excluding Time Deposits, IRAs, and Commercial Loans. When out of state, you may call (866) 499-BANK.

You may: 

  • Transfer funds from checking to checking, savings, or money market
  • Transfer funds from savings to checking, savings, or money market
  • Transfer funds from money market to checking, savings, or money market
  • Get information since the last statement about:
    • account balance and history on checking accounts
    • payment of a specific check
    • account balance and history on savings accounts
    • account balances and interest information on IRA and time deposit accounts
    • account balance and other information on consumer loans


Please see Limitations on Frequency of Transfers section regarding limitations that apply to telephone transfers.

Online Banking/Bill Payment System Charges 

Personal Accounts can be accessed through Online Banking at no charge. Standard Bank Bill Pay is free.

 ATM Transfers - STAR®, jeanie®, and Cirrus® Networks - types of transfers, dollar limitations and charges.

You may access your account(s) by ATM using your STAR® ATM card and personal identification number (PIN) or your Debit MasterCard® and personal identification number (PIN), to:

  • Make deposits
  • Get cash withdrawals
    • You may withdraw no more than $500.00 per day unless you have been specifically advised that a higher limit is applicable
  • Transfer funds between linked accounts
  • Account inquiries:
    • Get account balance

Some of these services may not be available at all terminals.

ATM Charges for All Accounts:

Usage at ATMs we own and operate
Unlimited uses
free
Usage at STAR® ATMs we do not own or operate
First two transactions Simply Checking, Standard Checking, Standard Savings and Premium Savings
free
Additional transactions $2.00
e-Checking and My Green Checking free
Usage at non- STAR® ATMs we do not own or operate -  Each transaction $2.00
Replacement of lost card $5.00
Replacement of lost PIN $5.00


Please also see Limitations on Frequency of Transfers section regarding limitations that apply to ATM Transfers.

Types of Debit MasterCard® Transactions - You may access your Checking account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant will accept with a credit card).

Debit Card Transactions - dollar limitations - Using your debit card:

You may not exceed $1,500.00 in POS 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 effect a transaction with your Debit MasterCard® branded 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 effect on the day the transaction is processed. This rate may differ from the rate in effect 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, MasterCard® 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 county of the merchant is different than the country of the cardholder.

Advisory Against Illegal Use

You agree not to use your card(s) for illegal gambling or other illegal purpose. 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 Computer Transfers – types of transfers – You may access your account(s) by computer through the internet by logging onto our website at www.standardbanks.com and using your Access ID and Password to:  

  • Transfer funds from checking to third parties (bill payment)
  • Make account inquiries:
  • Get account balance

Please also see Limitations on Frequency of Transfers section regarding limitations that apply to debit card transactions.  

Limitations on Frequency of Transfers

In addition to those limitations on transfers elsewhere described, if any, the following limitations apply: 

  • Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone or computer transfer or by check, draft, or similar order to third parties are limited to six per monthly statement cycle.
  • Transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer or by draft or similar order to third parties are limited to six per monthly statement cycle.

Fees - Except as otherwise provided herein or in separate schedules:  

  • We do not charge for direct deposits to any type of account.
  • We do not charge for preauthorized payments from any account. (Except that the item counts as a check or a debit for the purpose of checking account fees).
  • Except as indicated elsewhere, we do not charge for electronic fund transfers.

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. However, you may not get a receipt if the amount of the transfer 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 (708) 499-2000 to find out whether or not the deposit has been made. 

Periodic Statements: A monthly account statement will be available to you for your checking or money market accounts, either via US Mail or e-Statement.  

  • A monthly account statement will be available to you for your savings accounts, unless there are no transfers in a particular month. In any case, you will have a statement available to you at least quarterly or monthly if combined with a checking, NOW, or money market account.

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 brochure in time for us to receive your request three 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 days after you call.
  • We will charge you $32.90 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 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 differ 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 have given us a written order to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

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: 

1.      If, through no fault of ours, you do not have enough money available in your account to make the transfer.

2.      If you have an overdraft line and the transfer would go over the credit limit.

3.      If the automated teller machine where you are making the transfer does not have enough cash.

4.      If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.

5.      If circumstances beyond our control (such as fire, flood, telecommunication outages, postal strikes, and equipment or power failure) prevent the transfer, despite reasonable precautions we have taken.

6.      If your account or your funds have been tied up with legal proceedings or other action.

7.      If there are unusual circumstances of which the Bank is aware, and the Bank believes that there is a problem with your account or its use.

8.      If the Bank has not received the deposit or withdrawal from the original source.

9.      If incomplete or inaccurate information has been forwarded by the third party or the necessary authorizations have been revoked by law.

10.   If the Bank has not received proper authorizations or notices.

11.   There may be other exceptions in our agreement with you.

Confidentiality

We will disclose information to third parties about your account or the transfers that you make:

1.      Where it is necessary for completing transfers; or

2.      In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or

3.      In order to comply with government agency or court orders; or

4.      If any of your accounts become delinquent, overdrawn, or are closed for misuse, information may be released to third parties involved in collection, adjustment settlement, or reporting of accounts: or

5.      If you give the Bank your written permission.

Unauthorized Transfers

(A) Consumer liability.

(1) Generally. Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit). If you tell us within two business days, you can lose no more than $50 if someone used your card and/or without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your card and/or code without your permission.)

 If you do NOT tell us within two business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you can lose as much as $500. 

Also, if your statement shows transfers that you did not make, 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 period. 

2) Additional Limits on Liability for MasterCard®-branded card, when used for point-of-sale transactions. You will not be liable for any unauthorized transactions using your MasterCard®-branded card, when used for point-of-sale transactions, if: (i) you report the loss or theft of your card within 24 hours of when you discover the loss or theft, (ii) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, (iii) you have not reported to us two or more incidents of unauthorized use within the prior twelve-month period, and (iv) 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. "Unauthorized use" means the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit. This additional limitation on liability does not apply to PIN-based transactions or transactions not processed by MasterCard®.

(B) Contact in event of unauthorized transfer. 

If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure. 

Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers, call or write us at the telephone number or address listed in this brochure, as soon as you can, 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 60 days after we sent the FIRST statement on which the problem or error appeared.

1.      Tell us your name and account number (if any).

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 the information.

3.      Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (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, 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 (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 questions in writing and we do not receive it within 10 business days, we may not credit you account. If you are a new customer, the account is considered a new account for 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 tell you 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.

You may ask for copies of the documents that we used in our investigation. In a case where the account is reimbursed, if it is later determined there was no error, and the funds have been withdrawn, you are responsible for reimbursing the Bank.

STANDARD BANK AND TRUST COMPANY
CUSTOMER SERVICE
7800 W. 95TH STREET
HICKORY HILLS, IL 60457

Business Days: Monday, Tuesday, Wednesday, Thursday and Friday Excluding Federal Holidays

Phone: 866-499-BANK (2265)

More detailed information is available upon request.

We reserve the right to at any time require not less than 7 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D. (12/07)

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