E-Sign Disclosure

Disclosure Relating to Electronic Delivery of the Savings Institute Business Online Express Agreement. Before you use our Online Banking Services, you must agree to the terms of our Business Online Express Agreement (called the “Agreement” in this disclosure). The Business Online Express Service permits you to electronically initiate account transactions and communicate with Savings Institute (the “Bank”). The Agreement contains the terms that govern your use of the Business Online Banking Service including Bill Pay Service and Mobile Banking Service. You can agree to the terms of the Agreement by clicking on the “I Accept” button on the registration page.

To Receive the Agreement Electronically; Printing the Agreement. You can consent to receive the Agreement, and future notices relating to the Agreement, electronically by clicking on the “I Accept” button below. Electronic notices relating to the Agreement will appear as a new message on the Welcome Page when you sign on to Business Online Express. In order to use Business Online Express and to access, receive and retain Notices electronically, you must provide at your own expense all necessary telephone lines, Internet or other connections and equipment needed to access the Business Online Express Services and to receive Notices electronically. Your computer must meet the following minimum requirements: an Internet web browser with capabilities to support 128 bit encryption (Current and previous two versions of Firefox, Internet Explorer and Safari, are examples). You confirm that your computer will meet these specifications and requirements and will permit you to access and retain any Notice electronically each time you access and use Business Online Express. We will give you Notice of any change to these specifications and requirements if the proposed change will adversely affect your ability to access and retain subsequent electronic Notices from us. If you receive the Agreement electronically, you can print this Agreement by selecting File, then Selecting Print from your browser’s menu.

To Receive a Paper Copy. You also have the right to receive a paper copy of the Agreement or any future notices. You may request a paper copy of the Agreement or any future notices at no charge in one of the following ways: send an Electronic mail message (“E-­mail”) with your name and mailing address to customerservice@banksi.com, call us at 800 423-­‐0142 and ask for the Electronic Banking Department, or write to Savings Institute, Attention: Electronic Banking Department, 803 Main St., Willimantic, CT 06226, with your name and mailing address. Be sure to state that you are requesting a copy of the Online Banking Agreement.

To Withdraw Your Consent to Receive Notices Electronically. You can also contact us in any of the ways described in the preceding paragraph to withdraw your consent to receive any future notices or Agreements electronically. If you withdraw your consent, we will send all future notices to you in paper form, at no additional charge. If you revoke your consent, your right to use Online Banking may be terminated.

To Notify Us of a Change in your E‐mail Address. You can notify us of a change in your e­‐mail address by logging on to the Business Online Express Service (select Profile then select “change e‐mail” and follow the instructions for changing your e‐mail address) or write to Savings Institute, Attention: Electronic Banking Department, 803 Main St., PO Box 95, Willimantic, CT 06226, and give us your name and your new e-­mail address. BY CLICKING THE “I ACCEPT” BUTTON You consent to the electronic delivery of the Business Online Express Agreement and other notices or disclosures relating to the Agreement. You also agree that the Bank does not need to provide you with an additional paper (non-­‐electronic) copy of the Agreement unless specifically requested.

Business Online Express Disclosure and Agreement

THIS BUSINESS ONLINE EXPRESS AGREEMENT (“Agreement”) is for Online Banking and and/or Cash Management Services (as approved) provided by Savings Institute Bank & Trust Co., with its principal office located at 803 Main Street, Willimantic, Connecticut 06226 (“Savings Institute”).

1. General. The online banking and/or cash management services to be provided by Savings Institute to Customer consist of an internet access site (the “Site”) that permits Customer to obtain certain account information reporting, electronic funds transfer services, and other account maintenance functions, by means of a computer. These services shall collectively be known as “Business Online Express”(“BOE”). BOE is provided by Savings Institute for access and use by Customer. The Site has been licensed to Savings Institute by a company that owns the Site (the “Company”). Savings Institute has been granted the right to sublicense the Site to customers.

2. Use of Site. Savings Institute provides to Customer a non-­‐transferable non-­‐exclusive sublicense to use the Site and Services. Customer acknowledges and expressly agrees that the Site and any documentation made available to Customer regarding the Site are valuable, confidential, and proprietary property of Savings Institute and the Company and agrees not to transfer, distribute, copy, reverse compile, modify or alter the Site or the Site documentation. Customer, for and on behalf of itself and its officers, employees, representatives and agents, expressly agrees to safeguard the confidentiality of the Site and not to make it available to or accessible by any third party.

3. Term. This Agreement is effective from the date the Site is accessed by Customer and shall remain in force until termination. The Agreement shall terminate (i) upon thirty (30) days written notice by either party to the other, provided that Savings Institute shall be given a reasonable time, which shall not be less than two (2) business days, to act on such notice, (ii) upon termination of the relationship between the parties, (iii) if the Customer fails to comply with the terms and conditions of this Agreement or any other agreement incorporated herein, (iv) if any of the Customer’s accounts are not in good standing with Savings Institute or (v) upon termination of the license agreement between Savings Institute and the Company. The provisions of this Agreement that protect the proprietary rights of the Company and Savings Institute will continue in force after termination.

4. Disclaimer of Warranty. No warranties with respect to the Site are made by Savings Institute nor does it warrant that the Site will meet specific requirements of Customer. Neither Savings Institute nor the Company makes any warranty of any kind, either express or implied, with respect to the use of the Site. SAVINGS INSTITUTE AND THE COMPANY DISCLAIM ANY AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. The Customer assumes the entire risks as to the quality and performance of the Site.

5. Limitation of Liability.
(a) In no event shall Savings Institute or the Company be liable to Customer for any damages, including lost profits, lost savings or other direct, indirect, incidental, special or consequential damages, even if Savings Institute has been advised of the possibility thereof, arising out of the use or inability to use the Site, or for any claim by another party. If a transaction the Customer has properly processed through the Site, in accordance with the instructions provided to Customer and without error by Customer or fraud by Customer’s Authorized Employees or any third party, is not completed, or is completed for an incorrect amount, or is directed to a person or entity which does not comply with Customer’s instructions, Savings Institute will be responsible for returning any improperly transferred funds to Customer’s account from which the funds were withdrawn and for directing to the proper recipient any payments or transfers that were previously misdirected or not completed. THE RECREDITING OF CUSTOMER’S ACCOUNT AND THE REDIRECTING OF PAYMENTS AND TRANSFERS SHALL CONSTITUTE SAVINGS INSTITUTE’S ENTIRE LIABILITY FOR INCOMPLETE OR INCORRECT PAYMENTS OR TRANSFERS.
(b) The Customer shall be solely responsible for protecting against unauthorized access to the Site through the use of physical security, passwords and other security procedure. Customer agrees to indemnify and hold Savings Institute harmless against any claims or losses arising from any request received through BOE from any person using a user code or password assigned or selected by Customer or any of Customer’s Authorized Employees or other agents authorized to access the site.
(c) Where the Customer has access to funds transfer features of BOE, which include ACH transfers, wire transfers and/or internal transfers between Customer’s accounts at Savings Institute (“Book Transfers”), Savings Institute will only accept transfer requests upon proper execution of the Security Procedure that are entirely within Customer’s control. The Customer agrees to follow the Security Procedure set forth in this Agreement and in any other agreement the Customer has with Savings Institute with regard to the type of funds transfer requested by the Customer. Savings Institute may consider funds transfer requests received from Customer as having been authorized by the Customer, and Savings Institute shall be held harmless for executing any transfer pursuant to instructions received through BOE.
(d) Responsibility for Unauthorized Access. The Customer shall be solely responsible for protecting against unauthorized access to the BOE services, including ACH and Wire transfer services, and any and all losses and damages arising from any unauthorized access to the BOE Services.

6. Fees. Fees payable by Customer for access to and use of the Site shall be at a rate specified by the Savings Institute’s Schedule of Charges. Savings Institute may change fees upon prior written notice. Customer agrees that fees may be automatically debited from any of Customer’s accounts at Savings Institute.

7. Funds Transfer Services. In addition to account information reporting, Customer has access to certain funds transfer services, as described below. The funds transfer services provided hereunder are subject to the terms of this Agreement and any other agreement incorporated herein. Federal regulations implemented pursuant to the Unlawful Internet Gambling Enforcement Act of 2006 require us to notify our commercial customers that we are prohibited from processing any restricted gambling transactions on their behalf. Restricted transactions involve the collection of Internet bets or wagers for businesses engaged in Internet gambling transactions (e.g., online gambling casinos) that are made by persons participating in unlawful Internet gambling transactions. For instance, we are prohibited from processing any transactions by check, credit or debit card, electronic funds transfer, wire transfer or similar device for credit to a commercial account if the transaction involves the receipt of an unlawful bet or wager made through the Internet. A bet or wager is unlawful if it violates any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made.

The following conditions shall also apply:
(a) Book Transfers. Customer can transfer funds between its accounts at the Savings Institute (“Book Transfers”) pursuant to the terms of this Agreement.
(b) ACH Transfers. The Customer acknowledges that the ACH feature of BOE is an alternate entry system for issuing funds transfer requests to the Automated Clearing House Network (“ACH Transfers”). A separate ACH Agreement between the Customer and Savings Institute is required and is incorporated herein.
(c) Wire Transfers. The Customer acknowledges that the wire transfer feature of BOE is an alternate entry system for issuing funds transfer requests to Savings Institute (“Wire Transfers”). A separate Wire Transfer Agreement between the Customer and Savings Institute is required and is incorporated herein.
(d) Security Procedure. Customer agrees to comply with the security procedure defined and described below for Book Transfers, Wire Transfers, and ACH transfers through BOE (the “Security Procedure”). The Security Procedure will be the transfer of funds through BOE using user codes and passwords to access BOE for the purpose of making the transfers. Customer agrees that a user code and password will only be provided to those persons who Customer authorizes to conduct transactions through BOE (“Authorized Employee”). Customer will appoint an Authorized Employee to administer Customer’s access to BOE (“Administrator”). Customer will provide each Authorized Employee with a user code and password. Customer, or Customer’s Administrator, may place limits on the dollar amount and type of transfers that can be made by an Authorized Employee based on the user code and password. Customer acknowledges and agrees that the use of a user code and password and BOE is a commercially reasonable security procedure for such transfers. The Customer acknowledges that safeguarding of the user codes and passwords and setting limits on dollar amounts of transfers and accounts accessed, is entirely within its control. Customer also acknowledges and agrees that Savings Institute may rely on any communication received through BOE, from any person using a user code and password. If an Authorized Employee is no longer authorized to conduct transactions through BOE, Customer agrees to immediately delete such Authorized Employee’s password as an authorized password.
(e) Internet Disclaimer. For any services described in the Agreement utilizing the Internet, Savings Institute does not and cannot control the flow of data to or from Savings Institute’s network and other portions of the Internet. Such flow depends in large part on the performance of Internet services provided or controlled by third parties. Actions or inactions of such third parties can impair or disrupt Customer’s connections to the Internet (or portions thereof). Savings Institute cannot guarantee that such events will not occur. Accordingly, Savings Institute disclaims any and all liability resulting from or related to such events and in no event shall Savings Institute be liable for any damages (whether in contract or in tort) that are attributable to the public Internet infrastructure, Customer’s ability to connect to the Internet, or Savings Institute’s ability to connect to the Internet on Customer’s behalf.

8. Description of the Savings Institute Bank & Trust Co Online Banking Services. Depending on the services requested by you when you registered, the Savings Institute Bank & Trust Co Online Banking Services allows you to perform some or all of the following functions:

  • Deactivate and reactivate your debit card 
  • Download or import transaction activity to personal financial management tools such as Quicken® or QuickBooks®
  • Enroll in eBills for those billers who support it
  • Establish alerts to notify you of transaction activity
  • Establish savings goals and track progress
  • Inquire about specific payments 
  • Make bill payments to a person or business (a "payee") in the United States (restrictions apply)
  • Monitor spending and build a budget
  • Obtain account balances and transaction information for your accounts
  • Open new accounts online
  • Place stop payments on checks you have written
  • Re-order checks if previously ordered through us
  • Review, change and cancel payments 
  • Schedule and make future payments as far as 364 days in advance
  • Send secure messages to us including submitting secure forms
  • Set up automatic, recurring future payments
  • Transfer funds between your accounts, including accounts at another Financial Institution
  • Update your contact information such as mailing address, email address and telephone numbers
  • Update your security information such as user ID and password
  • View eStatements
  • View images of paid checks.

These features of the Savings Institute Bank & Trust Co Online Banking Services are limited by and subject to the terms set forth below:

a. Your ability to transfer funds from your savings and money market accounts is limited by federal law, as stated in our Deposit Account Contract. Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle with no transfers by check, draft, debit card, or similar order to third parties. 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.

b. There may be a one (1) business day delay in transferring funds between designated accounts depending upon the day and time on which you request the transfer.

c. A transfer from an Insti-­‐Reserve Credit Account will be treated as a cash advance from that Account and is subject to the Agreement that governs that Account.

d. No transfers may be made from any account that requires two or more signatures.

e. Balance and transaction information provided on any day will generally be current only as of the close of business on the preceding business day. Transactional information for your accounts will be available from the Savings Institute Bank & Trust Co Online Banking Services for the last one 18 months, but are limited to the last ten thousand (10,000) transactions.

f. You may transfer funds to and from accounts you have access to at other financial institutions within this service. Transfers can be scheduled for future-­‐ dated or recurring delivery dates. All future scheduled and historical transfers are viewable from within the Transfer Activity section. Transfers set up prior to 3:00 p.m. on a business day that the Bank is open will go out the same day, and transfers setup after 3:00 p.m. or on a non-­‐business day will go out the next business day that we are open. For the purpose of external account transfers, business days are Monday through Friday, excluding holidays and days the Bank is closed. You agree this transfer service is for consumer purposes only between your account at Savings Institute Bank & Trust, Co and your account at the other Financial Institution with in the United States.
• You will be able to receive transfers (credits to your account) up to $500.00 per day or a maximum of $5,000.00 every 30 days whichever occurs first
• You will be able to send transfers (debit to your account) up to a maximum of $500.00 per day or up to the available balance in your account and a maximum of $5,000.00 every 30 days whichever occurs first.
When you request a fund transfer using this service, you authorize us to follow the transfer instructions and transfer the funds from the designated originating account to the designated recipient account. We may refuse to act on your fund transfer instruction if there are not sufficient available funds in your account, including funds available under any linked overdraft plan, on the Transaction Date. Funds transferred to the designated recipient account will be deemed deposited on the Transaction Date and will be available thereafter in accordance with our Funds Availability Disclosure.
In order to use the external account transfer (ACH) functionality you must agree to the following NACHA Rules:
Subsection 2.4.1, the Entry is authorized by the Originator and Receiver
a) The Entry has been properly authorized by the Originator and the Receiver in accordance with the Rules.
b) The Originator’s authorization has not been revoked, the Origination Agreements concerning the Entry have not been terminated, and neither the ODFI, any Third-­‐Party Sender, nor the Originator has actual knowledge of the revocation of the Receiver’s authorization or of the termination of the agreement between the RDFI and the Receiver concerning the Entry.
c) At the time the Entry is processed by an RDFI, the authorization for that Entry has not been terminated, in whole or in part, by operation of law. This Subsection 2.4.1(c) shall not apply if the RDFI has actual knowledge of the circumstances giving rise to such termination at the time it processes the Entry and the ODFI does not have such actual knowledge.
Subsection 2.4.1.2, the Entry Complies with the Rules
a) The entry complies with these Rules, including the use of the proper Standard Entry Class Code
Types of transfers available for External Account Transfers:

  • transfer funds from checking to checking
  • transfer funds from checking to statement savings
  • transfer funds from checking to Holiday club
  • transfer funds from statement savings to checking
  • transfer funds from statement savings to statement savings
  • transfer funds from statement savings to Holiday club

g. E-­‐mail sent by you will not be immediately received by us. Please call if you need to contact us immediately (for example, to report an unauthorized transaction from an account). No action will be made on your electronic mail request until we actually receive your message and have a reasonable opportunity to act. If you wish to contact us electronically, please use the electronic form provided on our Online Banking Services Web pages. Email sent within the Online Banking Services is not sent through an Internet E-­‐mail system. It is transmitted through a secure, private network. By contrast, E-­‐mail transactions through general or public E-­‐mail are not secure. We therefore request that you do not send us or ask for sensitive information such as account numbers, User IDs, or passwords through any general or public E-­‐mail system. You cannot use E-­‐mail to transfer funds between accounts or to conduct transactions. You must follow the instructions for the Savings Institute Bank & Trust Co Online Banking Services to accomplish these activities.

h. For security reasons, we may limit the frequency and dollar amount of transactions from your Account.

i. After we receive your authorization for payment to any payee, the payment will then be made either by transferring funds electronically to the payee or by sending a check to the payee. Payments can be made by: 

Electronic – payments to payees that have an established relationship with our bill pay company. The credit to the payee may be via ACH or a “Direct Send” settlement. The debit to your bill pay funding account is via ACH on the payment’s Delivery Date. 

Laser Draft – our bill pay company sends and mails a check drawn on your bill pay funding account. Your account is debited when the item is presented by the receiving payee. 

By authorizing a payment, you authorize us to debit your account for the payment amount. We may honor Savings Institute Bank & Trust Co Online Banking Services payment requests, checks, electronic payments, withdrawal tickets or instruments drawn on your account in any order which we decide. You must have enough available funds (as described in our Funds Availability Policy) in your account to complete the payment and should be aware that other transactions (such as ATM, Point of Sale or in-branch withdrawals) may affect your account balances. 

Any requirement to verify two or more signatures on any item (such as a check) does not apply to electronic bill payment or transfers initiated through online banking.  This means you are allowing any authorized signer on your account to individually make payments or transfers even if you have requested such restriction.

Your bill payment instructions should be received at least five (5) business days before the business day on which a payment is due, except that instructions for payments to payees who may be paid within two (2) days (as indicated) should be entered and transmitted at least two (2) business days before the business day on which a payment is due. In order for a payment instruction to be considered received on a specified date, it must be received prior to midnight (Eastern Standard Time). Payment instructions received on weekends or holidays will be considered received on the next business day. We are not responsible for delays in delivery of payments caused by the U.S. Postal Service, so you must authorize your bill payment in such a manner that your payments will be made on time. Any late payment or finance charges that may be imposed as a result of your failure to transmit payment instructions at least two (2) or five (5) business days, as applicable, before a payment is to be made will be your responsibility. Our responsibility for any late payment or finance charges is limited. 

Only payees with United States addresses may be paid using the Savings Institute Bank & Trust Co Online Banking Services. We reserve the right to refuse to pay certain payees. 

Although bill payments will process to the following payees, they are not recommended for payment through Bill Pay Service, as they are not covered under Payment Guarantee:

• Collection agencies 
• Court ordered payments such as alimony, child support, speeding tickets, etc.
• Credit counseling agencies
• Governmental agencies
• Payees located in Armed Forces postal codes such as AE and AP
• Payments to settle securities transactions
• Payments for special or delayed financing purchases
• Tax entities

Payees prohibited for payment through the bill pay service are as follows:
• Payees outside of the United States

 
The Savings Institute Bank & Trust Co Online Banking Services may be used to authorize automatic recurring payments of recurring bills. These payments must be for the same amount each month and they will be paid on the same calendar day of each month, or on the preceding business day if the regular payment day falls on a weekend or holiday. Payments sent to eBill payees can be set-up for auto-pay of the minimum balance or full amount due.

When you have entered and transmitted a payment instruction, you authorize us to reduce the account accordingly. If the available balance in the account (including any Insti-Reserve Line of Credit) is not sufficient to make payments you have authorized, we cannot make the payment. You are responsible for any non-sufficient funds and overdraft charges we may impose, as stated in our Deposit Account Contract. We reserve the right to refuse to honor payment requests that reasonably appear to us to be fraudulent or erroneous.

Payment Guarantee.  Due to circumstances beyond the control of the bill pay service, particularly delays in handling and posting payments by billers or financial institutions, some transactions may take longer to be credited. We will bear responsibility for any late payment related charges up to $50.00 should a payment post after its Due Date as long as the payment was scheduled in accordance with the guidelines described below.

• When scheduling Bill Payments, you must select a Scheduled Payment Date that is no later than the actual Due Date reflected on your Biller Statement unless the Due Date falls on a non-Business Day. If the actual Due Date falls on a non-Business Day, you must select a Scheduled Payment Date that is at least one (1) Business Day before the actual Due Date. Scheduled Payment Dates must be prior to any late date or grace period.
• The payment was not made to a non-recommended payee as noted earlier in this agreement. No research will be performed on any payments sent to these non-recommended payees.  
• The information supplied by you is correct (payee name and address, your name and account number as it appears on the payee's records).
• The payment did not fail for insufficient funds or other reasons.
 
j. Your liability for bill payments
We will be responsible for your actual losses if they were directly caused by our failure to complete a transfer to or from your accounts on time or in the correct amount according to our agreements with you. 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 complete a transaction from that account, 

• If withdrawals from any of your accounts have been prohibited by a court order such as a garnishment or other legal process, or if that account has been closed. 

• We have paid funds from, or placed a “hold” on funds in your account or remitted funds to another party, pursuant to reasonable business procedures, or in compliance with legal process such as garnishment, tax levy or court order. 

• If the transfer or bill payment would go over the credit limit on your Insti-Reserve line of credit. 

• If you do not have an adequate credit limit in an Insti-Reserve Account to complete a transaction from that account, or if that account has been closed. 

• If you have not properly followed the Savings Institute Bank & Trust Co Online Banking Services instructions on how to make a transfer or bill payment or if your Computer or other equipment necessary to use the Savings Institute Bank & Trust Co Online Banking Services fails or malfunctions. 

• If you have not given us complete, correct and current instructions so that we can make a transfer or bill payment. 

• If you do not authorize a bill payment soon enough for your payment to be made and properly credited by the payee by the time it is due. 

• If we make a timely bill payment but the payee nevertheless does not credit your payment promptly after receipt. 

• If we have reason to believe that a transaction has not been properly authenticated or is fraudulent. 

• If the Savings Institute Bank & Trust Co Online Banking Services was not working properly and you knew or should have known about the breakdown when you attempted to authorize a transfer or bill payment. 

• If circumstances beyond our control prevent the making of a transfer or payment, despite reasonable precautions that we have taken. Such circumstances include delays or losses of payments caused by the U.S. Postal Service, equipment failure or breakdown, acts of God or other conditions beyond our control. We will be responsible for acting only on those instructions sent through the Savings Institute Bank & Trust Co Online Banking Services which we actually receive. 

• For other exceptions to our liability as stated in the Electronic Fund Transfer Agreement. 
For any indirect, incidental, special or consequential damages if our failure was not intentional and resulted from a bona fide error, notwithstanding our procedures to avoid such error.

j. Your bill payment instructions should be received at least five (5) business days before the business day on which a payment is due, except that instructions for payments to payees who may be paid within two (2) days (as indicated on your Computer) should be entered and transmitted at least two (2) business days before the business day on which a payment is due. In order for a payment instruction to be considered received on a specified date, it must be received prior to midnight (Eastern Standard Time). Payment instructions received on weekends or holidays will be considered received on the next business day. We are not responsible for delays in delivery of payments caused by the U.S. Postal Service, so you must authorize your bill payment in such a manner that your payments will be made on time. Any late payment or finance charges that may be imposed as a result of your failure to transmit payment instructions at least two (2) or five (5) business days, as applicable, before a payment is to be made will be your responsibility. Our responsibility for any late payment or finance charges is limited by Section 10.

k. We may modify the Savings Institute Bank & Trust Co Online Banking Services from time to time in accordance with applicable law. Additional services or accounts may become accessible through the Savings Institute Bank & Trust Co Online Banking Services in the future. As each becomes available you will be provided with a description of each such service or account and fees and will be given the opportunity to access each through the Savings Institute Bank & Trust Co Online Banking Services. Your use of these new services or accounts shall mean that you agree to any additional terms and conditions as well as payment of fees. Also, we reserve the right to delete or modify any services or accounts from the Savings Institute Bank & Trust Co Online Banking Services.

l. You may use our stop payment feature to initiate a stop payment request on a check you have written on your account. We will not honor a stop payment order sent through general e-¬‐mail. A stop payment order provided through Online Banking is deemed to be a written stop payment order and is good for 6 months; but you may renew it in writing or by a subsequent stop payment order sent through Online Banking before the previous stop payment order has expired. The stop payment order must include the check number, date, amount and name of the payee of the check you want us to stop so that we can identify the check with reasonable certainty. We will have no liability for failing to act on a stop payment order if the stop payment order does not describe the check with reasonable certainty, or if we do not have a reasonable opportunity to honor the stop payment order, even if the failure to stop payment causes other checks to be returned for insufficient funds. Prior to sending a stop payment order, you agree to first verify that the check has not already been posted to your account.

A stop payment order you send through Online Banking may not be immediately received by us. We will make reasonable efforts to act on a stop payment order on the Business Day that you send the stop payment order through Online Banking if it is received by 4:00 p.m. To ensure that a stop payment order or notice is received immediately, you should telephone our Customer Service Center at 800-423-0142 We will make every effort to stop this payment; however we cannot guarantee it will be stopped if the check is paid before the end of the next business day. All Stop orders are contingent upon our being provided with the account number, correct dollar amount, number of check and payee. You will be assessed the standard fee for placing a stop payment request. Please refer to our fee schedule for more information.

To stop payment on a transaction made through our bill payment feature, please contact us  at 800-423-0142. Any External items (ACH) where the item has been paid, additional paperwork is required and must be completed and received immediately. Stop Payment Reasons: Cancelled Item, Direct Debit Cancelled, Direct Debit Not Authorized, Disputed, Duplicate Payment, Lost Item, Other Reason, Photocopy Paid, Refer to Maker, Stolen Item, Unsatisfactory Service

9. The Customer’s Indemnification of Savings Institute. The Customer hereby indemnifies and agrees to hold Savings Institute and each of Savings Institute’s officers, directors, employees, agents, representatives and assigns harmless from and against any and all claims, damages, losses, expenses, demands, penalties and suits (including, without limitation, attorney’s fees, court costs and other expenses) of any person or entity resulting from or arising out of:
(i) any act or omission of the Customer or any person other than Savings Institute;
(ii) the failure of the Customer or its officers, directors, employees, representatives or agents to maintain the confidentiality of (a) information relating to Customer’s deposit account(s), (b) the Security Procedure or (c) user codes and passwords relating to BOE;
(iii) any breach of this Agreement, including, without limitation, any breach of a representation or warranty hereunder by Customer; and
(iv) Savings Institute’s performance under this Agreement, provided Savings Institute

10. Modifications. Savings Institute may in its sole discretion, modify BOE, its pricing schedule or equipment required to use BOE by providing written notice to the Customer. Any such modification shall become effective as proposed by Savings Institute unless the Agreement is terminated by the Customer in accordance with Section 3 of this Agreement. Notwithstanding the foregoing, Savings Institute may change any procedure without prior notice to the Customer if Savings Institute reasonably believes that an immediate change in terms or conditions is necessary to maintain or restore the security of the funds transfer system or any deposit account.

Miscellaneous.
(a) This Agreement, together with other written agreements relating to particular funds transfer services accessible through BOE and the applicable Savings Institute deposit account agreement, represent the entire understanding of the parties. To the extent a conflict exists between this Agreement and any agreement related to a specific funds transfer service available through BOE, the terms and conditions of the agreement governing the specific funds transfer service will govern. To the extent a conflict exists between this Agreement and any deposit account agreement, the terms and conditions of this Agreement will govern. If any portion of this Agreement is found to be unenforceable, all remaining portions shall remain in full force and effect.
(b) Customer agrees not to sublicense, assign or transfer this license or the Site except as expressly provided in this Agreement.
(c) Customer will use BOE only for its valid business purposes, and in compliance with applicable deposit account agreements, laws and regulations. Transfers from savings accounts through BOE are included in the preauthorized and telephone transfers that are subject to the limitation of six (6) transfers per statement cycle pursuant to the Federal Reserve Board’s Regulation D and the deposit account agreement governing any account you link to BOE.
(d) This Agreement is governed by the laws of the State of Connecticut (except to the extent that Federal law governs the copyrights and trademarks of Company and its successors and assigns), without regard to conflict-¬‐of-¬‐law rules.
(e) Except as otherwise required by law, Bank may in its sole discretion change the terms of this Agreement from time to time and at any time. This may include adding new or different terms to, or removing terms from, this Agreement. Bank will notify Customer of any changes that are made which materially affect Customer’s rights prior to implementation of such changes. However, if an immediate change is necessary to maintain the security of the system or because a law, rule or regulation requires that it be implemented at an earlier time, Customer agrees that Bank may notify Customer of a change to this Agreement as soon as reasonably practicable after implementing such change. By continuing to use the Service after Bank sends Customer notice of any change, Customer agrees to the change. Except as otherwise required by law, any change to this Agreement applies only to transactions that occur, or claims that arise, after the amendment becomes effective.
(f) As used in this Agreement and any agreement incorporated herein, the term “business day” means Monday through Friday, excluding federal holidays.

12. Multiple Company Addendum to Application. The companies designated (collectively, the “Companies”) have designated the accounts listed above (collectively, the “Accounts”) for viewing internal transfers, or ACH transfers through Business Online Express at Savings Institute Bank & Trust, Co. (the “Bank”). The undersigned hereby certify that (i) I/we are the sole owners of each Company and (ii) the signatories and authorized users of Business Online Banking on each of the Accounts are the same individual for each Company. The Business Online Banking Administrator designated by the bank is authorized to act as Administrator for each of the Accounts. The Companies, through the Administrator, are solely responsible for setting limitations on types of transfers and dollar amounts of transfers for each of the Authorized Users of the Accounts. The Bank is authorized and directed to honor all transfers between these designated Accounts (or any accounts requested by the Companies) made through Business Online Express with the User ID and password assigned to or selected by an Authorized Users, agent, or employee, of any of the Companies, or to assign to or selected by any other person permitted by the Administrator to access Business Online Express whatever the purpose and without inquiry at any time. The Companies listed above and the undersigned owners of the Companies agree to indemnify the Bank and hold it harmless against any claim, loss, or damage whatsoever arising from the transfers between the Accounts. The Companies agree to notify the Bank immediately if any of the owners or the Administrator changes or if the owners, Administrator, Authorized Users of Business Online Express or the authorized signers for each of the Accounts or are no longer the same individual for each of the accounts.

13. Acceptance. By clicking “I Agree” button, and continuing to use our service, you agree to be bound by the terms and conditions of this agreement.