Saco & Biddeford Savings Bank

SACO & BIDDEFORD SAVINGS INSTITUTION INTERNET BANKING AGREEMENT & DISCLOSURE

Please read this Internet Banking Agreement & Disclosure carefully before applying for the Saco & Biddeford Savings Institution Internet Banking Service. You must press the “I agree” button at the end of this Agreement to continue.

This Agreement, together with our other agreements and disclosures, including the Truth in Savings Disclosures, Electronic Funds Transfer Act Disclosure, Substitute Check Policy Disclosure, Funds Availability Policy, Fees for General Services, Home Equity and any other Loan or Line of Credit Agreement that you may have with us, governs your use of the Saco & Biddeford Savings Institution (SBSI) Internet Banking Service and the Bill Pay Service, (the Services) which allows you to check balances, transfer funds, review account activity or to pay bills. By using these services, you agree to the following terms and conditions, and you consent to the electronic transmission of personal financial information. Your consent will be deemed effective as long as you continue to use the Services. Please read this Agreement carefully and retain a copy for your records.

As used in this Agreement, “accounts” means the deposit and loan accounts to which you have access through the Services. “You” and “your” refer to the person(s) or entity subscribing to or authorized to use the Services; “we”, “us” and “our” refer to Saco & Biddeford Savings Institution (SBSI).

Access to Services: You may use any personal computer (PC) or other access device equipped with qualified browser software that provides Internet access to the World Wide Web. We will make available instructions on how to use our Services. When you use SBSI Internet Banking Service, you are using both your own web browser software and software that is operated on our computers. You must follow the procedures described in the instructions.

Term: This agreement will remain in effect until terminated by you or us. It will automatically terminate if you cease to be a customer of the Bank, or if you fail to comply with any term or condition of this Agreement.

Warranty Disclaimer: The Services are provided “as is” without warranty of any kind. You are responsible for obtaining, installing, maintaining and operating all computer hardware and software necessary for performing transactions. We will not be responsible for any errors or failures from the malfunction or failure of your hardware or software. The entire risk as to results and performance of the Services is assumed by you. Under no circumstances will we have any liability to you for failing to provide you access to your accounts through the Services. We will use our best efforts to provide you with accurate and up to date information, but we make no warranties or representations as to the accuracy of the information. You agree that all access and use of the Services is at your own risk.

We do not make any representations or warranty of any kind regarding use of the software related to the Services, either express or implied, including, but not limited to implied warranties of merchantability and fitness for a particular purpose.

Limitation of Liability: By using the Services you acknowledge that under no circumstances and under no legal theory, tort, contract, or otherwise, shall we be liable to you or any other person for any direct, indirect, special, punitive, incidental, or consequential damages of any character, including, without limitation, damages for loss of goodwill, loss of use, data, or profits, work stoppage, computer failure or malfunction, or any and all other commercial damages or losses. In no event will we be liable for any damages (even if we have been advised of the possibility of such damages) including liability associated with any viruses which may infect your computer.

Liability For Failure To Make Transfers: If we do not properly 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, your account has insufficient available funds to make the transfer and/or payment.
If the funds in your account are subject to legal process, such as garnishment, attachment or other lien.
If an account which may be accessed by use of your ATM/Debit Card, Telebanker or Internet Banking becomes dormant, in which case we may eliminate Electronic access to that account.
If the transfer and/or payment would go over any credit limit you may have.
If the system was not working properly and you knew about the breakdown when you started the transfer and/or payment.
If circumstances beyond our control (such as fire or flood) prevent the transfer and/or payment despite reasonable precautions we have taken.
If a withdrawal would consist of money deposited in the form of a check or other order and not yet available for withdrawal.
If in case of a preauthorized credit to your account, a third party does not send your money to us on time or does not send us the correct amount.
If your privilege to access the Internet Banking Service has been terminated.
There may be other exceptions stated in our agreement(s) with you.

Your User ID and Password: Once you have completed the Enrollment Form, either via internet or in person, identifying all of the accounts you wish to access through the Services, we will make these identified accounts available for your use through the Services and will issue you a Login ID number and a temporary password. Your Login ID number will remain the same, however you must change your password the first time you access the system.

In addition to your Login ID and password, you will be instructed to perform two additional security steps.

The first will be to select an image and a phrase. The purpose of the image and phrase is to verify to you that you are accessing Saco & Biddeford Savings Institution’s internet banking site and not a fraudulent site.

The second will be to select three (3) challenge questions and provide answers to those questions in the fields provided. The challenge questions will only be presented to you during future logins where the Internet Banking system does not recognize the computer which the login is being attempted from.

You acknowledge and agree that it is your responsibility to change your password as soon as possible to a confidential series of letters and numbers which is known only to you. Your password must consist of a minimum of six letters and/or numbers, but cannot exceed 10 letters and/or numbers (i.e. abc123)

Your access to the Services will be blocked in the event your password is entered incorrectly three (3) consecutive times. If this occurs, please telephone our Electronic Services Department at 207-284-4591.

Authorized Use of the Services by Other Persons: You are responsible for keeping your password and account data confidential. Because your password can be used to access money in any of your accounts and to access information about any of your accounts, you should treat your password with the same degree of care and secrecy that you use to protect other sensitive personal financial data. You agree not to give your password, or make it available, to any other person.

We are entitled to act on transaction instructions received using your password without inquiring into the identity of the person using that password, you agree that the use of your password will have the same effect as your signature authorizing the transaction and SBSI has no responsibility for establishing the identity of any person or determining the validity of any transaction. If you authorize other persons to use your password in any manner, your authorization will be considered unlimited in amount and manner until you have notified us in writing that you have revoked the authorization and changed your password, and you are responsible for any transactions made by such persons until you notify us that transactions by that person are no longer authorized and we have a reasonable opportunity to act upon the notification.

Consumer Liability for Unauthorized Transfers: Tell us AT ONCE if you believe your Internet Banking Password has been stolen or used without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account. If you tell us within two business days, you can lose no more than $50 if someone used your password without your permission.

If you DO NOT tell us within two (2) business days after you learn of the theft or unauthorized use of your password and we can prove we could have stopped someone from using your password without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, tell us at once. If you fail to tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (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 may extend the time period.

If you believe your password has been stolen or that someone has transferred or may transfer money from your account without your permission, please call us at 207-284-4591 or 1-888-800-4591 or write to our Electronic Services Department at 50 Industrial Park Road, Saco, Maine 04072. Our regular business days are Monday through Saturday. Holidays are not included.

Information About Your Accounts: When you access your accounts, you will be able to obtain information about your SBSI checking, savings, certificate of deposit, individual retirement account, consumer loan, home equity and mortgage loan accounts. You will not be able to access information about your student loan accounts.

You may obtain an account balance and summary information, available funds information, and posted transactions information for the current month. Any balances will include a date as of which the balance is current. Balances shown may include deposits still subject to verification by us. The balances shown also may differ from your records because they may not include deposits or withdrawals in process, outstanding checks, or other withdrawals, payments, charges or ATM activity.

Transaction history displays detailed information for the account; balances, dates, etc., along with a listing of all the transactions which have been performed on the account in the current month. Previous history is available by selecting a different date range for the transaction detail.

In addition to viewing account information, you may use Internet Banking to conduct the transfer of funds. You may make one-time transfers such as transfers to make loan payments. You may make transfers between eligible accounts that you have with us. An eligible account is one linked to the Service that does not have withdrawal restrictions (such as a Certificate of Deposit). In all cases, at least one of the accounts involved in the transfer must be one of the following types:

• Checking Account
• NOW or SuperNOW Account
• Statement Savings Account
• Most Money Statement Account
• Super Money Market Account
• Home Equity Line of Credit

Transfers submitted after 4:00PM EST, or on a Saturday, Sunday or Holiday will be posted on the next business day.

Limitations on Frequency of Transfers: In addition to those limitations on transfers described elsewhere, the following limitations apply:

• Transfers from a Super Money Market Account or Most Money Statement Account to another account or to third parties including preauthorized, automatic, telebanker or internet banking transfers are limited to six per statement cycle, with no more than three by debit card, check or similar order.

• Transfers from a Statement Savings Account to another account or to third parties including preauthorized, automatic, telebanker or internet banking transfers are limited to six per statement cycle, with no more than three by debit card and no transfers by check, or similar order.

• Transfers from passbook accounts (i.e. regular savings, golden passbook, money market or most money passbook) to another account or to third parties including preauthorized, automatic, telebanker or internet banking transfers are limited to six per statement cycle, with no transfers by debit card, check, or similar order.

• The minimum credit advance allowed on Home Equity Lines of Credit is $500 per transaction and the total outstanding credit is not to exceed the maximum amount of your Home Equity Line of Credit.

If any transaction exceeds any of these limitations, the Bank reserves the right to convert your account to a SuperNOW or NOW account or, if you are ineligible to hold such an account, it will be converted to a regular checking account. Persistent violations of the transaction limitations may result in either a fee being assessed against your account, the termination of the transfer privileges or the close out and transfer to a checking or NOW account.

Withdrawals or transfers made in person at the Bank or at an ATM are unlimited. Deposit transactions are also unlimited.

Right to Documentation: Periodic statements - You will get a monthly account statement for your Checking, NOW, SuperNOW, Statement Savings, Super Money Market, Most Money Statement Accounts or Home Equity Line of Credit.

Error Resolution: In case of errors or questions about your electronic transfers, telephone us at 207-284-4591 or write to our Electronic Services Department at 50 Industrial Park Road, Saco, Maine 04072 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 your 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
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 more 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 ten (10) business days.

We will determine whether an error occurred within 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 10 business days 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 question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three (3) 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.

Complaint Resolution Procedure: If you have a dispute, you may contact us and attempt to resolve the problem directly. If we fail to resolve the problem, communicate the problem and the resolution you are seeking to:

Bureau of Financial Institutions
36 State House Station
Augusta, Maine 04333-0036

To file a complaint electronically, you may contact the Bureau of Financial Institutions at the following Internet address: http://www.maine.gov/pfr/financialinstitutions/complaint.htm. The Bureau of Financial Institutions will acknowledge receipt of your complaint promptly and investigate your claim. You will be informed of the results of the investigation.

Disclosure of Account Information to Third Parties: We will disclose information to third parties about your accounts or the transfers you make:

• Where it is necessary for completing transfers, or
• In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
• In order to comply with government agency or court orders, or
• If you give us written permission.

BILL PAY SERVICE

SBSI Online Bill Pay Service is offered through Princeton e-Com. The Bill Pay Service permits you to use your Web Access Devise to direct payments from your designated online bill payment account to third parties you wish to pay. Your bill payment account must be a checking account. Through the Bill Pay Service, you can pay bills from your bill payment account to businesses or individuals (“Payees”). We do not currently charge a fee for this service.

You must enroll for the Bill Pay Service before you can access and use it. The way to enroll for the Bill Pay Service is to go to the Enroll Now section of the Internet Banking Service and follow the instructions.

All payments you make will be deducted from the primary checking account that you designate as your Bill Payment Account for Bill Pay Service. Any payments you wish to make through this Service must be payable in U.S. dollars to a Payee located in the continental United States. We reserve the right to restrict types of Payees to whom payments may be made using the Service, from time to time.

Funds must be available in your Bill Payment Account on the scheduled payment date (“Transaction Date”). If the date you schedule a payment to be initiated falls on a non-business day (Saturday, Sunday, or holiday), funds must be available in your Bill Payment Account the following business day (e.g. Monday). After funds are withdrawn from your Bill Pay Account to make a payment, Princeton e-Com may make the payment either by transferring funds electronically to the Payee or by mailing the Payee a check.

All bills submitted after 4:00PM,EST will be posted on the next business day. Electronic bills will be processed within 3 business days of posting. Companies not set up for electronic payment receive a paper draft on your behalf. These paper draft payments take 5-8 Business Days to reach their payees.

You may choose to schedule payments to recur in the same amount at regular intervals as defined in the system. You should schedule a payment to a new Payee at least ten (10) business days before any payment due date, to allow time to set up the Payee and verify certain information.

For all subsequent payments, you agree to allow at least three (3) to eight (8) business days between the date you schedule a payment to be initiated and the payments due date (that is, the due date shown on your invoice or provided in your agreement with the Payee, not taking into account any applicable grace period). If the payment is an Automated Clearing House (ACH) electronic payment, it will take up to three (3) business days to reach the Payee. However, if the company or person that you are paying cannot accept an electronic payment, the Bill Pay Service will send a check that may take up to eight (8) business days. If you do not follow these time frames, you will be fully responsible for all late fees, finance charges or other actions taken by the Payee.

If you schedule your payment and follow all instructions, but the payment is not received by the Payee in a timely manner, the Bank will work with the Payee on your behalf to attempt to have any late fees or charges reversed.

Your Payee List: You must provide sufficient information about each Payee (“Payee Information”) to properly direct a payment to that Payee and permit the Payee to identify the correct account (“Payee Account”) to credit with your payment. This information may include, among other things, the name and address of the Payee and your Payee Account number. You must enter your Payee Information using your PC or other Web Access Device. Once you have entered information for a new Payee, the Payee will be immediately set to receive Payments.

Scheduling Payments: Payments are processed based on the date you specify. This means it is your responsibility to determine when the bill payment processing should begin so the payment is received before the due date. Payments may take up to three (3) business days for an electronic payee and eight (8) business days if the payee is paid by check to be received.

To schedule a payment using a PC or other Web Access Devise, you must first set it up by: (a) creating a Payee, (b) entering the amount of your payment, and (c) entering the date on which you would like your payment to be processed or, for recurring payments, the day on which you would like such payments to be initiated during the specified recurring period.

Scheduling Transfers: Currently there is no method to transfer funds between accounts using Bill Pay. You may want to use Internet Banking Service for this function.

Delivery of Your Scheduled Payment and Scheduled Transfers: You may schedule payments and transfers to be processed on the day that you enter the payment or transfer information. Only payments may be scheduled on a future date, or on the same day of each specified recurring period. Although you can enter payment or transfer information through the Services 24 hours a day, 7 days a week, payments and transfers can be initiated only on business days. It may take two (2) to three (3) business days for the payment or transfer in which funds will be deducted from your account. This date is referred to in this Agreement as the “Transaction Date”.

After payments are deducted (or debited) from your primary checking account, your payments will be remitted by mailing your Payee a check or by an electronic funds transfer. Because of the time it takes to transmit your payment to your payee, they will not receive payment on the transaction date. This applies regardless of whether the payment is a same day payment, a future payment, or a recurring payment, as described below. Therefore, in order to provide sufficient time for payments to be received by your payees, the process date for each payment must be three (3) to eight (8) business days prior to the date your payment is due, excluding any applicable grace periods (the “Due Date”). We will not be responsible for any loss, penalties, or late fees you may incur as a consequence of late payment if your actual transaction date is not at least eight (8) business days prior to the actual due date for your payment.

We process the payments you make using the Bill Pay Service as follows:

Payments may be sent to the payee via an electronic transmission. Payees who receive an electronic transmission will also receive, as part of that electronic transmission, your account number along with your payment information. Payments made by electronic transmission are generally received by most payees within three (3) business days.

Payments may be sent to payees by check mailed to the payee. All such checks are delivered by U.S. mail. Due to mail time, payments made by check may take up to eight (8) business days to reach the payee.

SBSI will not be liable in any way for damages you incur if you do not have sufficient funds in your Bill Pay Account to make the payment on the processing date, for delays in mail delivery, for changes to the payee’s address or account number unless you have advised us of the change sufficiently in advance, for the failure of any payee to correctly account for or credit the payment in a timely manner, or for any other circumstances beyond the control of SBSI.

Same Day Payments and Same Day Transfers: Using a PC or other Web Access Device, a payment that is scheduled and sent after 4 p.m. EST will be initiated on the next business day. A payment that is scheduled and sent on Saturday, Sunday or any bank Holiday will be initiated the next business day. You will not be able to see the payment “account summary” section of your checking account between the time you have entered the payment and it has been initiated. After the payment has been processed and before it posts to your account, you can view it under “View Payments”.

You may schedule a transfer to be initiated on the same day that you enter the transfer information on the Service (a “same Day Transfer”). A same day transfer between SBSI accounts sent before 4 p.m. EST on a business day will be initiated on the same day. A same day transfer between SBSI account sent after 4 p.m. EST will be initiated on the following business day.

Future Payments and Future Transfers: You may schedule a payment to be initiated on any future business day.

If you schedule a payment for a day that is not a business day, your payment will be initiated on the following business day. You may change or cancel a future payment until 4 p.m. EST of the scheduled date.

Future transfers are currently not available on the Service.

Recurring Payments and Recurring Transfers: Using a PC or other Web Access Device, you may schedule payments to a payee to be automatically initiated in a fixed amount on a number of frequencies defined by the system (a “Recurring Payment”).

The day on which a recurring payment is scheduled to be initiated is referred to as the “Recurring Payment Date”. Recurring payments will be initiated on the business day of the scheduled process date.

If a recurring payment date is a day which does not exist or falls on a non-business day for the specified recurring period, then the payment will be processed on the following business day. For example, if you schedule a recurring payment for the 30th of each month, your payment for the month of February will be initiated on or after the 28th of February. If the recurring payment falls on a day other than a business day in the specified recurring period, your payment will be processed on following business day. Thus, your actual process date for any month may not be the recurring payment date you specified.

It is also important to note that differences in the number of business days in a week can reduce the number of business days between your process date and your due date in any specified recurring period. For example, assume that you have a payment due on he 16th of each month and you want to create a recurring payment for it. Tuesday, May 2nd, is ten (10) business days before Tuesday, May 16th. However, in September, the 2nd falls on a Saturday, and the 4th is a holiday. Therefore, a recurring payment scheduled for the 2nd of each month actually would have been initiated on September 5th, and ten (10) business days after that date is September 19th. In order to ensure that your recurring payments are always initiated at least ten (10) business days before your payment due date, we recommend that you schedule the recurring payment date to be at least fifteen (15) calendar days prior to your due date.

Canceling or Changing Payments or Transfers: You may cancel payments or transfers before they are posted by clicking on the “View Postings” tab. Each payment or transfer is assigned an ID number on which you click. You may then cancel the item. You may change or cancel a recurring payment or transfer by clicking the set up tab and making the appropriate changes.

Business Days/Hours of Operation: Saco & Biddeford Savings Institution business days are Monday through Saturday, except bank holidays. Our normal business hours are 8:30 a.m. to 4:00 p.m. Monday through Thursday, 8:30 a.m. to 5:30 p.m. on Friday, and 8:30 a.m. to noon on Saturday.

The Internet Banking Service and Bill Pay Service are generally accessible 24 hours a day, seven days a week, except that Services may be inaccessible for a reasonable period for system maintenance. We may modify, suspend or terminate access to the Services at any time and for any reason without notice or refund of fees you have paid. During these times, you may use our Telebanker service, a SBSI ATM or a SBSI branch office to obtain information about your accounts.

Inactivity and Termination: You are responsible for complying with all the terms of this Agreement and with the terms of the Services. We can terminate your Internet Banking privileges (including the Bill Pay Service) under this Agreement without notice to you if you do not pay any fee required by this Agreement when due, or if you do not comply with the Agreement governing your deposit or loan accounts, or your accounts are not maintained in good standing. We will promptly notify you if we terminate this Agreement or your use of the Services for any other reason.

Your use of the Service will automatically convert to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive 60 day period. If your Service is considered inactive, you must contact us to have the Internet Banking Service activated before you will be able to schedule any transaction(s) through the Internet Banking Service.

Your Service may be cancelled after six (6) months of inactivity. You will be notified by e-mail at least five (5) business days prior to the cancellation of the Service. To avoid cancellation, you must log in or notify us prior to the cancellation date. Once the Service is cancelled, you will be required to re-enroll for Internet Banking Services.

To cancel the Internet Banking Service and/or Bill Pay Service, you must notify us at least ten (10) calendar days prior to the effective date you wish to have your Services terminated, and you will have to provide your name, address, whether you are discontinuing Internet Banking, Bill Pay or both; and the effective date to stop the Services. When Bill Pay is terminated, you must delete future bill payments made through Internet Banking access. You may notify us by one of the following methods:

1. By calling our Electronic Services Department at 207-284-4591 during our business hours listed above, or
2. By writing a letter and sending it to the following address:

Electronic Services Department
Saco & Biddeford Savings Institution
50 Industrial Park Road
Saco, Maine 04072

Limitation of Liability: Except as otherwise provided in this Agreement or by law, we are not responsible for any loss, injury, or damage, whether direct, indirect, special, or consequential, caused by the Services or the use thereof, including any loss, injury, or damage arising in any way out of the installation, use or maintenance of the Software, or from Internet access. Except to the extent that we are liable under the terms of this Agreement, you agree to indemnify and hold us, our trustees, officers, employees and agents harmless from all loss, liability, claims, demands, judgments and expenses arising out of or in any way connected with use of the Services. This indemnification is provided without regard to whether our claim for indemnification is due to the use of the Services by you or your authorized representative.

Assignment: You may not assign your rights and responsibilities under this Agreement to any other party. We may assign our rights and responsibilities under this Agreement or delegate any or all of such rights and responsibilities to any third parties.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the United States and of the State of Maine.

Amendments: We may amend or change the Agreement at any time upon at least thirty (30) days notice to you prior to the effective date of any amendment or change. We will notify you of any such change or amendment via e-mail to your last known e-mail address. If you do not agree to the change or amendment, you must notify us prior to the effective date of the change or amendment and cancel your access to the Services.

Unless otherwise provided in this Agreement, you may not stop payment of electronic fund transfers. Therefore, you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment.

Saco & Biddeford Institution recommends you PRINT or SAVE this document for your records