Electronic Funds Transfer Agreement and Disclosures
This agreement and disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic fund transfers are electronically initiated transfers of money involving a deposit account at the bank. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfers. In this agreement, the words 'you' and 'yours' mean those who sign as applicants or any authorized user(s). The words 'we', 'us', and 'our' mean the bank.

Types of transfers: You may use the automated teller machine (ATM) card and personal identification number (PIN) issued to or selected by you to initiate transactions at ATMs of ours. ATMs within the networks identified on our card and such other facilities as we may designate from time to time. At present, you may use your card to (some of these services may not be available at all ATMs):

  • Deposit funds to your checking or savings account(s)
  • Withdraw cash from your checking or savings account(s)
  • Transfer funds between your checking and savings accounts
  • Obtain balance information on your deposit accounts Limitation on frequency and amount:
  • Fees and charges may occur if there are not sufficient funds in your account at the time of ATM transactions:
  • There is no charge for ATM withdraw at machines owned by us

Types of transactions: You may use the card and PIN issued to or selected by you to pay for purchases from merchants who have agreed to accept the card at point of sale (POS) terminals within the networks identified on your card and such other terminals as the bank may designate from time to time.

  • Fees and charges may occur if there are not sufficient funds in your account at the time of POS transactions:

Types of Audio Response Services: You may access your deposit accounts by using a separate personal identification number (PIN) assigned to or selected by you and your account number in our audio response system. At the present time, you may use the system to:

  • Transfer funds between your deposit accounts
  • Obtain tax information on interest earned or paid on your accounts
  • Obtain balance information of your deposit accounts
  • Verify the last date and amount of your payroll deposit
  • Determine if a particular check has cleared your account
  • Transfer from checking or savings to pay any type of loan payment

Limitations on frequency and amount:

  • There are no limits on the number or dollar amount of inquiries, transfers, or withdrawals you may make per day. Fees and charges for Audio Response Transactions:
  • We do not charge for any audio response transaction

Types of Pre-authorized transfers: You may arrange for us to complete the following pre-authorized transfers to or from your deposit accounts:

  • Accept direct deposits from your employer, U.S. Treasury Department, or other financial institutions to your checking or savings account.
  • Pay certain recurring bills from your checking or savings account
  • Automatic transfer from one of your deposit (originating) accounts to another (recipient) account you hold at SFSB to cover the activity on the recipient account leaving the recipient account at a net zero balance daily.

Fees and charges:

  • We charge $4.87 for any sweep account transaction.

In addition to the limitations set forth above, the following limitations may be applicable to your accounts:

Tell us AT ONCE if you believe your card, ATM PIN, POS card or PIN, or audio response PIN has been lost or stolen. 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 two (2) business days after you learn of the loss or theft of your card or code you can lose a maximum of $50.00 or someone uses your card or code without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your card or code, and we can prove that we could have stopped someone from using your card or code without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows any transfer that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty (60) days if we can prove that we cold have stopped someone from making the transfers if you had told us in time. If you believe that your card 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 to us at the telephone number or address set forth below. If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.

Our regular business days are Monday through Friday. Holidays are not included.

Periodic Statement: You will get a monthly savings/checking statement from us unless there are no transactions in a particular month. Terminal Receipt: You will receive a terminal receipt at the time you make any transaction at an ATM terminal or purchase at a POS terminal.
Direct Deposits: If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us on Security Express at (574) 737-7205 or at (574) 722-6261 to find out whether the deposit has been made. In addition, you can utilize Security Federal's E-Banking to check your deposits.

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 the transfer would exceed the credit limit on your overdraft line
  • If the ATM was not working properly and you knew about the breakdown when you started the transfer
  • If the ATM where you are making the transfer does not have enough cash
  • If circumstances beyond our control (i.e.: fire, flood, or power failure) prevent the transaction
  • If your account is frozen because of a delinquent loan or legal process or other claim
  • If there are any other exceptions as established by us.

Telephone us at (574)722-6261 or write to us at 314 4th St., Logansport, IN 46947 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 sixty (60) days after we sent you the FIRST statement on which the problem or error appeared.

  • Tell us your name and account number
  • Describe the error or 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
  • Tell us the dollar amount of the suspected error

If you tell us orally, we may require you to send us your complaint or question in writing within ten (10) business days. We will tell you the results of our investigation within ten (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 ten (10) business days for the amount you think is in error so that you will have 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 ten (10) business days, we may not credit your account. If we decide there was no error, we will send you a written explanation of our findings within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. If a notice of error involves an electronic funds transfer that was initiated in a foreign location, the applicable time periods for action shall be twenty (20) business days in place of ten (10) business days and ninety (90) calendar days in place of forty-five (45) calendar days.

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

  • To complete transfers as necessary
  • To verify the existence of sufficient funds to cover specific transactions upon the request of a third part, such as a credit bureau or merchant
  • To comply with government agency or court orders
  • If you give us your written permission.

The ATM PIN, POS PIN, or Audio Response PIN issued to or selected by you is for your security purposes. The numbers are confidential and should not be disclosed to third parties or recorded on the card. You are responsible for safekeeping your PINs. You agree not to disclose or otherwise make your PINs available to anyone not authorized to sign your accounts.

All notices from us will be effective when we have mailed them or delivered them to your last known address on our records. Notices from you will be effective when received by us at the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least 21 days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing your account and any future changes to those regulations.

In the event either party brings a legal action to enforce this Agreement or collect amounts owing as a result of any account transaction, the prevailing party shall be entitled to reasonable attorney's fees and costs, including fees on any appeal, subject to any limits under applicable law.

You agree that we may terminate this Agreement and your use of the ATM card, POS, or audio response service if:

  • You or any authorized user of your ATM or POS card or PIN or audio response PIN breach this or any other agreement with us
  • We have reason to believe that there has been an unauthorized use of your ATM or POS card or PIN or audio response PIN
  • We notify you or any other party to your account that we have canceled or will cancel this Agreement.

You or any other party to your account can terminate this Agreement by notifying us in writing. Termination of service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.

If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of a preauthorized transfer from your account. You must notify us orally or in writing at any time up to 3 business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within 14 days of any oral notification. If we do require the written confirmation, the oral stop payment order shall cease to be binding 14 days after it has been made.

If these regular payments vary in amount, the person you are going to pay is required to 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.

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.

There may be a delay between the time a deposit is made and when it will be available for withdrawal. You should receive our Funds Availability Policy to determine the availability of funds deposited at ATMs. We reserve the right to refuse any transaction, which would draw upon insufficient funds, exceed credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account.

We will disclose information to third parties about your account or the transactions you make that we believe are necessary.

  • To complete or document transaction, to investigate possible unauthorized transactions, or combat fraud;
  • To verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
  • In response to government agency inquiries or orders;
  • In response to court orders;
  • If you give us your written or oral permission;
  • To comply with government regulations; or
  • To offer you products and services that we believe may interest you.

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