SterSavings e-Connect Internet Banking Services Agreement


1. Introduction
Welcome to SterSavings 's e-Connect System ("e-Connect"). The following Terms and Conditions and Agreements govern your (also referred to as "you" and "Company") use of e-Connect.

YOUR AFFIRMATIVE ACT OF TYPING IN YOUR USER ID AND PASSWORD AND CLICKING EITHER "SUBMIT" OR "LOG IN" CONSTITUTES YOUR ELECTRONIC SIGNATURE AND AGREEMENT TO THE FOLLOWING TERMS AND CONDITIONS FOR EACH USER AND COMPANY.

Please review these terms carefully. In addition to traditional paper based communications, by signing up or using SterSavings 's e-Connect System, you agree to transact with and receive notices from SterSavings electronically. You may also wish to print this Agreement for your future reference. All of the terms and conditions of your bank account relationship with us will remain the same, except as modified by this Agreement. If you do not agree to these terms, do not use e-Connect.

2. Definitions
Agreement means these terms and conditions.

Account means such checking accounts, savings accounts, money market accounts, commercial loans, lines of credit, etc., utilized in e-Connect and their respective agreements governing such Accounts. This Agreement does not affect the terms and conditions of these Accounts which are currently in place and said terms and conditions are fully incorporated herein by reference (i.e., Deposit Account Terms and Conditions with Disclosures, Treasury Management Master Services Agreement, Wire Agreement, ACH Terms and Conditions, etc.).

ACH is the acronym for Automated Clearing House and includes any and all transactions governed by applicable state and federal law, rules and regulations as well as the rules and regulations of the National Automated Clearing House Association (NACHA), all of which Company agrees to abide by through utilizing e-Connect. NACHA rules may be accessed by linking to https://www.nacha.org.

Bill Pay Service is the Online Bill Pay Service offered by SterSavings through Fidelity National Information Services, Inc. and is subject to the SterSavings Online Bill Pay Terms and Conditions which can be found at https://www.stersavings.com/terms-of-use/business-online-bill-pay-terms-conditions/index.php



Business Day. Bank business days are Monday through Friday, except holidays recognized by the Federal Reserve.

Company includes each client of SterSavings given access to e-Connect and each of their employees or contractors who are Users.

Customer Information. Sensitive nonpublic personal information (as defined by 12 CFR 1016.3) of Company's customers.

Cutoff Time. Transaction cutoff times are as follows unless indicated otherwise in the product specific agreement:

ACH Positive Pay Decisions: 1:00 PM ET on the settlement date

Check Positive Pay Decisions: 2:00 PM ET

International Wire Transfers: 4:00 PM ET

Domestic Wire Transfers: 5:30 PM ET

ACH Origination: 6:00 PM ET

Stop Payments: 11:00 PM ET

Funds Transfers: 11:00 PM ET



SterSavings e-Connect is an internet-based cash management system that allows your Company to view all previous day and even current day activity that is posted against the Company's SterSavings demand deposit accounts (DDA), savings, and money market accounts which are covered under this Agreement. Company also has the ability to initiate: stop payments, book transfers/account transfers, wire transfers (both domestic and international), Automated Clearing House (ACH) credits and/or debits, federal and state tax withholding payments, and cash concentration. The term "e-Connect" also includes SterSavings proprietary software and documentation.

Password is the unique combination of characters which authenticates the User to e-Connect. This Password, authorized and assigned to each Company's User (after assignment of a temporary Password by SterSavings ), is confidential information which must be safeguarded by the Company and each individual User. Company acknowledges and agrees to inform each User of the confidential information and to authorize only those Users who agree to keep the User ID, Password and Token confidential.

Token is an additional security measure used in conjunction with the User ID and Password to access e-Connect.  The Token must be safeguarded by the Company and each individual User.  Company acknowledges and agrees to inform each User of the confidential information and to authorize only those Users who agree to keep the User ID, Password and Token confidential.  Any loss, misuse, damage, tampering, etc., of the Token should be immediately reported to SterSavings .

User is an employee or other designate of Company who is authorized by you to conduct transactions on your behalf via e-Connect. Company acknowledges and agrees that its User(s) are the sole responsibility and liability of Company. SterSavings will not be responsible for unauthorized transactions or other misconduct which occurs as a result of User's access. Company further agrees to indemnify and hold SterSavings harmless for any and all transactions which are the result of the use of a valid User ID and Password.

User ID identifies the individual user/employee of the Company to SterSavings e-Connect. This User ID, authorized and assigned by Company, is confidential information which must be safeguarded by each User. Company acknowledges and agrees to inform their designated user/employee of the confidential information and to authorize only those users/employees who agree to keep the Company ID, User ID and Password confidential.

Wire Transfer Services describes those services governed by the Wire Transfer Agreement by and between Company and SterSavings , as well as all applicable federal and state law, rules and regulations.

3. SterSavings e-Connect Service
Company may perform the following banking transactions via e-Connect upon completion of the startup, payment of fees and designation of the Accounts that SterSavings and the Company agree are to be covered by this Agreement.

  1. Transfer funds to or from Accounts subject to the terms, conditions and availability of that specific type of Account. Transfer of funds to or from your Account(s) may not be effective until the following Business Day. Transfers to and from other banks located in the United States are accomplished via the Automated Clearing House (ACH) and are effective on the next Business Day subject to the Cutoff Times. It is your sole responsibility and obligation to comply with any state or federal limitations on the transfer of funds across state lines, if applicable. Proper compliance with Regulation E is your sole responsibility and you must obtain and maintain all necessary authorization for generating electronic funds transfers to and from bank accounts not owned by the Company.
  2. Make payments on designated SterSavings commercial loan(s) via SterSavings e-Connect. Payments may not be effective until the following Business Day.
  3. Make transfers to or from non- SterSavings accounts in other banks located worldwide. Transfers from a Money Market Deposit account or Savings account to another account or another bank, including SterSavings , are limited by law to six (6) per monthly cycle, with no more than three by check, draft, debit card or similar order to third parties.
  4. Access balance information and posted activity on Accounts with SterSavings and view reports prepared from Account activity.
  5. Initiate STOP payment order(s).
  6. Export some types of Account information and perform external analysis.
  7. ACH or Electronic Debit or Credit Services and Tax Payment services. See paragraph entitled "ACH or Electronic Debit or Credit Services and Tax Payment Services".
  8. Bill Pay Service or the ability to make payments to third parties from your designated Bill Pay checking account. The Bill Pay Service is subject to this Agreement, the separate Bill Pay Terms and Conditions and the terms and conditions governing the designated Bill Pay checking account.

Any services described above may be changed or eliminated, wholly or partially, by SterSavings at any time. SterSavings reserves the right to change daily Cutoff Times for Company initiated transactions. Cutoff Times are available by contacting SterSavings 's Commercial Customer Services Group (CCSG) at 1-+44 203 514 3631.  

4. Account Statement
You will not receive a separate SterSavings e-Connect statement but will continue to receive your regular month-end checking account activity statements which will include transactions initiated through SterSavings e-Connect.

There are limits on the frequency and dollar amount of transfers using your User ID, Password and Token, in addition to those limits set by Company for each User, as follows:

  • All transfers are subject to the availability of funds in your account.
  • Transfers from Money Market and savings deposit accounts are subject to the provisions of Regulation D which limit the number and type of transfers (see your respective Account agreements).
  • Any other limitations as set forth in the separate terms and conditions for any other Account or bank product.

We may charge for certain types of transfers, as shown in our fee schedule or other Account agreements.

If e-Connect does not complete a transfer to or from an Account on time or in the correct amount according to the respective Account agreement with you, we may be liable for your losses or damages. SterSavings will not be liable for:

  • if, through no fault of SterSavings , you do not have enough money in your account to make the transfer;
  • if the transfer would go over your established overdraft protection credit limit;
  • if your computer or your Internet service provider's equipment was not working properly and you knew about the problem when you initiated the transfer;
  • if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
  • The above are not all inclusive examples. Please check the applicable Account agreement and terms and conditions.

Notice to SterSavings . Call SterSavings 's Treasury Management department or contact SterSavings ’s Commercial Customer Services Group (CCSG) at 1-+44 203 514 3631 as soon as you can if you think your statement or transaction receipt is wrong or you need more information about a transfer listed on the statement or transaction receipt. We must hear from you no later than 3 days after SterSavings first sent you the first statement or made the statement available on which the problem or error appeared.

5. ACH or Electronic Debit or Credit Services and Tax Payment Services (Electronic Funds Transfer)
SterSavings assumes no responsibility for the authenticity, errors or omissions of data presented in the electronic file by Company. Company acknowledges and agrees that it is Company's responsibility to attain and maintain the necessary authorization from the individuals participating in this electronic funds transfer service. Company shall be responsible for adhering to all relevant law and regulations in connection with these services, including but not limited to Regulation E - Electronic Funds Transfers Act.

6. Passwords and System Security
SterSavings e-Connect includes the ability for the Company to establish User ID's, Passwords and various accessibility features for each User. This includes verification and authorizations levels for each User. Company acknowledges and agrees that the Customer ID, User ID, Password and Token, if used as provided in this Agreement and online help, are consistent with commercially acceptable practices and meet all standards for Company's security in gaining access to and conducting transactions via SterSavings e-Connect. Company also agrees that SterSavings may modify its security procedures to require additional user verification (i.e., additional tokens, biometric identification, etc.) from time to time, and that Company shall abide by such modifications.

Company agrees to indemnify and hold SterSavings harmless for consequential, incidental, special or indirect damages arising from any authorized or unauthorized use of SterSavings e-Connect. You agree to monitor your Accounts and notify SterSavings immediately of the possibility that unauthorized transaction(s) have occurred.

7. SterSavings e-Connect Availability
Company acknowledges that service interruptions in the banking, telecommunications and computer industries are frequently caused by circumstances beyond the control of SterSavings and are difficult to assess as to the cause or resulting damages. The goal of SterSavings will be to respond to service requests within one Business Day following notification from Company. Company agrees that SterSavings will not be liable for any actual, direct or indirect loss arising out of mistakes, omissions, interruption, delays, errors, or defects in transmissions of data or other uses of SterSavings e-Connect. SterSavings shall not be liable for any act or omission of any other entity furnishing Equipment, products or services to Company, nor shall SterSavings be liable for damages or losses due to the fault or negligence of Company, its agents, affiliates, subscribers or customers. Company agrees and acknowledges that SterSavings is not responsible for any interruptions of utility or telecommunications services, whether occurring at Company's residence or place of business or at SterSavings 's place of business.

Company agrees that in no event will SterSavings be liable to Company for any special, consequential, exemplary, punitive, incidental or indirect damages or loss of goodwill, profit, data or use of data arising out of any use or inability to use SterSavings e-Connect.

8. Improvement or Enhancements
If at any time after the initial delivery of SterSavings e-Connect, Improvements or Enhancements are requested or provided without request, Company will have the option to purchase these Improvements or Enhancements. The cost of such Improvements or Enhancements will be determined at that time.

"Improvements" means any additions or modification made to or in SterSavings e-Connect which improve the efficiency or effectiveness of the basic product, but do not change such functions or create one or more new ones. The term "Enhancements" means changes in SterSavings e-Connect which change the basic functions or add one or more new functions.

9. Ownership and Use
Company acknowledges that e-Connect is the original, confidential, valuable and proprietary product of SterSavings . Company has only the right to utilize e-Connect and may not transfer, copy, alter, modify, reverse engineer, decompile, disassemble, reproduce or convey in any manner, in whole or in part, e-Connect or any service thereof.

Company further acknowledges that all logos, service marks, trade names and trademarks contained within this site are the sole property of SterSavings . Use of such trademarks without the express written permission of SterSavings is prohibited. Use of any third party logos, trademarks, etc., that appear on this site is also prohibited without the consent of the owner of any such items.

All of the content on e-Connect and stersavings.com is protected by copyright. Its use for any commercial purpose or other public purpose is strictly prohibited and punishable by law. Company shall not, and shall ensure that its employees, personnel and Users do not: (a) use e-Connect in any way for spamming, chain letters, junk mail or distribution lists; (b) transmit through e-Connect any unlawful, harassing, libelous, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable material of any kind; (c) use e-Connect for unlawful purposes, in violation of applicable laws including the laws of copyright, trademark, obscenity, and defamation and the laws concerning transmission of Customer Information; (d) seek to compromise the security of e-Connect, its software, or SterSavings 's systems or networks by intentionally introducing viruses, tampering with security mechanisms, or other harmful means; (e) violate the rights of any person through the transmission, storage, and display of Customer Information or the data entered by Users; or (f) knowingly create large bandwidth-consuming transactions or put an unusually large load on e-Connect, SterSavings 's systems or SterSavings 's networks.

Company is solely responsible for the accuracy of data. Company shall be solely responsible for the quality and accuracy of all data and information provided to SterSavings or uploaded into e-Connect by or on behalf of Company or any Users or third party agents or representatives of Company (collectively, "Company Data"). Company hereby grants SterSavings its respective personnel worldwide right and license (the "e-Connect License") to use, access, process, manipulate and create derivative works from the Company Data in connection with this Agreement. Company will provide all Company Data to SterSavings in accordance with designated formats and schedules. Company shall follow ordinary and prudent practices for the operation of its business and use of e-Connect and its documentation hereunder, including regular, periodic balancing procedures, and controls for accuracy of input and use of output. In addition, Company shall, in a commercially reasonable manner, check exception reports to verify that all file maintenance entries and transactions were correctly entered. Company shall be responsible for initiating timely remedial action to correct any improperly processed data that these reviews disclose. In addition, (i) Company shall be responsible for verifying the accuracy of all reports and other outputs from e-Connect based upon Company Data and (ii) SterSavings will have no liability whatsoever for any failure of e-Connect or its software to perform based upon any inaccurate or faulty data provided by Company.

Company shall comply with all e-Connect operating instructions. Company shall comply with all reasonable operating instructions for e-Connect that are issued by SterSavings from time to time. Except as otherwise provided in this Agreement, Company shall be solely responsible for the supervision, management, and control of the use by Company and its Users of e-Connect.

Maintenance of Company's systems and equipment. Company shall be solely responsible for maintaining all computer equipment and other equipment and hardware owned or leased by Company in good working order in accordance with manufacturer's specifications. Company shall be solely responsible for obtaining and continuously maintaining the telecommunications link(s) necessary for Company to access and use e-Connect, except that if SterSavings and Company mutually agree, SterSavings shall obtain the telecommunications link(s), provided that Company shall pay for all installation charges, setup fees, and all recurring monthly charges for such communications link(s). Company shall always be responsible for its on-site network and for loading and maintaining the proper communications software on each Company computer or network. SterSavings will not be responsible for the reliability or continued availability of telecommunications lines and other communications equipment used by Company or its Users in accessing or using e-Connect. Company shall obtain and maintain all computer hardware, software and communications equipment needed to access and use e-Connect, including personal computers, internet browsers and access to the Internet that meet SterSavings 's minimum requirements as they may change from time to time.

Third party software licenses. To the extent that Company's access to and use of e-Connect requires its use on Company's systems of any third party software not provided by SterSavings , Company shall be solely responsible for obtaining and maintaining all licenses required for such third party software.

Third party services. To the extent that SterSavings uses third party service providers in its e-Connect service or access thereto, Company agrees that such third party service provider(s) shall be a third party beneficiary to this Agreement and shall be entitled to enforce its rights directly against Company for any violation or breach of this Agreement in connection with third party services. Additionally, to the extent permitted by applicable law, Company agrees that the third party service provider shall not be liable for any direct, indirect, incidental or consequential damages in regards to the third party services provided hereunder.

Authorized Users. Company shall only permit individuals authorized by Company and SterSavings to use and access e-Connect. SterSavings shall assign each User a unique User ID and Password in conformance with SterSavings 's requirements from time to time. Company shall only permit individuals who have been assigned a unique User ID and Password to use and access e-Connect. Each User ID and Password is subject to verification and acceptance by SterSavings . Company shall ensure that each User fully complies with these terms and conditions, and Company shall indemnify and hold SterSavings harmless for all damages, costs and expenses incurred by SterSavings as a result of the acts and omissions of any User or Users. Company acknowledges and agrees that the use of unique User IDs and Passwords are consistent with commercially acceptable practices and meet all standards for Company's security.

Company Responsibilities. Company is solely responsible for the use or misuse of e-Connect, its documentation, software, any User ID, Password and/or Token assigned to Users and all charges incurred with such User IDs, Passwords and Tokens. This use for which the Company is also solely responsible for includes, but is not limited to, third party aggregation services. Company shall notify SterSavings immediately of any unauthorized use of Company's account (including the User IDs, Passwords and/or Token assigned to a User) or any other breach or threatened breach of security. Company shall use commercially reasonable virus checking software and shall employ industry standard security procedures, such as firewalls and encryption, when using and accessing e-Connect.

Company understands and acknowledges that it is responsible for the physical and data security of its networks and/or systems (hardware, software, anti-virus and/or anti-malware, etc. (including installation and timely updates)).  Company shall reimburse SterSavings for any or all claims or losses which are a result of a physical or data security breach of Company’s systems.


Financial and Customer Information Compliance. Company represents and warrants that its use of e-Connect, its software and documentation is in accordance with, and represents and warrants full compliance with, all applicable governmental laws, rules and regulations as now or may hereafter be in effect, including the Bank Secrecy Act, the USA PATRIOT Act, US sanctions administered by Office of Foreign Asset Control and other Federal and state laws and regulations pertaining to anti-money laundering, terrorist financing, use of "payable-through" or "concentration" accounts, money transfers or remittances. Company represents and warrants that it maintains an effective compliance program designed to reduce the risk of money laundering through the prevention and detection of transactions involving illegal activity. Company agrees to comply with the Gramm-Leach-Bliley Act (15 U.S.C. 6801 et seq.) (the "Act"), and the regulations promulgated thereunder, as the Act and such regulations may be amended from time-to-time. Company shall notify SterSavings whenever Company becomes aware of unauthorized access to Customer Information. Company, after an appropriate investigation, will notify SterSavings whether Company believes misuse of such information is likely or unlikely to occur. During the investigation, Company will take appropriate steps to safeguard the interests of its affected customers, including the monitoring of affected transactions for on-going unusual or suspicious activity.

The Company further represents and warrants that it maintains and utilizes an appropriate and effective "Identity Theft Program" (as defined under applicable sections of the Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act) designed to detect, prevent and mitigate identity theft. The Company further warrants that it will provide prompt, written notice to SterSavings of any use or attempted unauthorized use of applicant or customer information as well as any pattern, practice or specific activity that indicates the possible existence of identity theft. The Company acknowledges that SterSavings reserves the right to periodically review Company's policies and procedures regarding its Identity Theft Program and to request a reporting of activity.

10. Warranties - Limitations of Liability
THE SERVICE IS PROVIDED "AS IS." THERE IS NO WARRANTY OF MERCHANTABILITY, AND FITNESS FOR A PARTICULAR USE, AND NO OTHER WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED REGARDING THE SERVICE, INFRINGEMENT OR DOCUMENTATION. ACCORDINGLY, THE ENTIRE RISK AS TO THE USE, RESULTS AND PERFORMANCE OF THE SERVICE IS ASSUMED BY COMPANY. IN NO EVENT WILL SterSavings BE LIABLE TO YOU OR ANYONE ELSE FOR ANY CONSEQUENTIAL, SPECIAL, OR INDIRECT DAMAGES RESULTING FROM POSSESSION, USE OR MALFUNCTION OF THIS SERVICE, INCLUDING WITHOUT LIMITATION, DAMAGE TO PROPERTY. NOTWITHSTANDING THE FOREGOING, COMPANY AGREES THAT THE LIABILITY OF SterSavings ARISING OUT OF ANY KIND OF LEGAL CLAIM (WHETHER IN CONTRACT, TORT OR OTHERWISE) WILL NOT EXCEED THE AMOUNT OF $5,000.00.

Notwithstanding anything to the contrary contained in this Agreement, SterSavings shall not be responsible for and shall have no liability to Company to the extent that any breach of this Agreement by SterSavings , or any failure of e-Connect or its software to perform in conformance to any documentation results from Company's or any User's negligence or intentional misconduct, Company's, any User's or any unauthorized third party's (on behalf of Company) modification or attempted modification of e-Connect or its software, faulty or inaccurate Company Data, failure of any Company Data to conform to e-Connect's specified formats, failures or errors by Users of e-Connect, or Company's or any User's failure to use e-Connect or its software in accordance with the documentation.

SterSavings does not warrant or endorse the accuracy, reliability, or quality of the content of any information or advertisement on or linked to or from e-Connect, except as noted in conjunction with any such item.

11. Electronic Disclosures
Company agrees that SterSavings may provide required notices, disclosures, agreements and other information concerning your Accounts and e-Connect electronically (collectively, the "Notices"). Company agrees that SterSavings can send Notices to (1) the e-mail address provided to SterSavings by Company during registration; (2) posting the Notice on stersavings.com; or (3) by posting the Notice on the Web site home page of e-Connect. The delivery of any Notice from SterSavings is effective when sent by SterSavings , regardless of whether you read the Notice when you receive it or if Company actually receives delivery. If you no longer wish to receive Notices electronically, please contact SterSavings 's Commercial Customer Services Group (CCSG) at 1-+44 203 514 3631.  However, SterSavings reserves the right to discontinue your access to e-Connect and to convert your service to another type of similar service through other channels, or to discontinue service completely.

12. Fees
Company agrees to the applicable fees assessed by SterSavings in accordance with this Agreement as well as to those fees or service charges currently charged. The Setup Fee is payable on or before delivery of SterSavings e-Connect by separate check or debit to Company's primary checking account. Monthly Recurring Fees for SterSavings e-Connect will be charged to Customer's primary checking account on a monthly basis. SterSavings may modify the Monthly Recurring Fee upon prior notice to Company. Company acknowledges and agrees to payment of fees from its primary checking account.

SterSavings reserves the right to change the SterSavings e-Connect fees from time to time by providing notice as stated in Amendments/Termination provision. These fees are in addition to any service charges that may be imposed on Accounts that Company has with SterSavings . Company hereby grants SterSavings a security interest upon all property left with SterSavings , whether now or hereafter deposited and upon any balance or deposit account of Company's, whether such accounts be general or special, individual or joint, and upon all drafts, notes or other items deposited for collection or presented for payment by Company, for the payment of any obligations of Company arising under this Agreement.

13. Amendments/Termination
SterSavings reserves the right to amend or modify this Agreement at any time. Company's subsequent use of SterSavings e-Connect for any Account after any amendments or modifications have been made will indicate Company's acknowledgment and agreement to be bound by the terms of such amendment or modification.

SterSavings may terminate the Agreement immediately in the event that Company's use of e-Connect is not consistent with the terms of this Agreement or if SterSavings , in good faith, believes that Company's use of e-Connect threatens the security of accounts of other SterSavings customers.

14. General
a. This Agreement will be governed by the law of the United States of America and the State of Ohio without regards to conflicts of law provisions.

b. The failure of either party to insist upon the performance of any terms or conditions of this Agreement or to exercise any right or privilege conferred in this Agreement or to enforce penalties resulting from breach of any of the terms or conditions of this Agreement, shall not be construed as waiving any such terms, conditions, rights, or privileges, but the same shall continue and remain in full force and effect as if no such forbearance or failure had occurred.

c. If at any time subsequent to the date hereof, any provision of this Agreement shall be held by any court of competent jurisdiction to be illegal, void or unenforceable, such provision shall have no effect upon and shall not impair the enforceability of any other provision of this Agreement.

d. Headings to sections of this Agreement are to facilitate reference only, do not form a part of this Agreement and shall not in any way affect the interpretation hereof.

e. The data processing and other services to be provided by SterSavings under this Agreement may be assigned by SterSavings to the extent permitted by law. SterSavings will provide written notice if any of those services are assigned to an entity that is not affiliated with SterSavings .

f. Company may not assign this Agreement, in whole or in part, without the written consent of SterSavings .

g. Export restriction. E-Connect, its software and/or its documentation may not be exported or re-exported a.) into (or to a national or resident of) any country against which the United States maintains a trade embargo; or b.) to any entity or individual on the U.S. Treasury Department's List of Specially Designated Nationals or the Commerce Department's Denied Persons List. By using e-Connect, Company is agreeing to the foregoing and Company is representing that it is not located in, under the control of, or a national or resident of any such country or on any such list.