Banking

MyTime Deposit® User Agreement ("Agreement"):

This Agreement contains the terms and conditions for the use of State Farm Bank® Mobile Banking, home scan functionality and/or other remote deposit capture services that State Farm Bank, F.S.B. ("State Farm Bank", "us", "we", "Our") may provide to you ("you," or "User"). Other agreements you have entered into with State Farm Bank, including the Customer Agreements and Disclosures and Fee Schedule governing your State Farm Bank account, are incorporated by reference and made a part of this Agreement.

State Farm Bank deposit accounts are FDIC insured.

  1. Services. The remote deposit capture services ("Services") are designed to allow you to make deposits to your checking, savings, or money market savings accounts from home or other remote locations by scanning checks (as defined herein) and delivering the complete image and associated deposit information to State Farm Bank or its designated processor.
  2. Scanning. Scanning means the creation of a legible electronic check image through photographic or electronic means acceptable to State Farm Bank.
  3. Fee. The Services are offered to you in accordance with the Fee Schedule and any fee associated with the Services may change upon notice by State Farm Bank.
  4. Binding Agreement. Your use of the Services constitutes your acceptance of this Agreement as it may be amended by State Farm Bank. We will notify you of any material change in writing. Your continued use of the Services will indicate your acceptance of the revised Agreement. Further, State Farm Bank reserves the right, in its sole discretion, to change, modify, add, or remove portions from the Services. You may not modify this Agreement unilaterally in writing or otherwise. Should you upon 30 days prior notice to you, refuse to accept any term or condition of this Agreement the Services will no longer be available to you. Your continued use of the Services will indicate your acceptance of any such changes to the Services.
  5. Errors in Transmission. By using the Services you accept the risk that an item may be intercepted or misdirected during transmission. State Farm Bank bears no liability to you or others for any such intercepted or misdirected items or information disclosed through such errors.
  6. Termination. We may terminate this Agreement at any time and for any reason. This Agreement shall remain in full force and effect unless and until it is terminated by us. Without limiting the foregoing, this Agreement may be terminated if you breach any term of this Agreement, if you use the Services for any unauthorized or illegal purposes or you use the Services in a manner inconsistent with the terms of your Deposit Account Agreement or other agreement with us.
  7. Transaction Limits. You may not use the Services to deposit items totaling more than Ten Thousand and No/100 Dollars ($10,000) in one business day beginning at 2:01 p.m. on a business day and ending at 2:00 p.m. on the next business day or more than Fifty Thousand and No/100 Dollars ($50,000) in any seven day period. Any items presented in excess of this limit will be returned at our discretion.
  8. Service Interruptions. The Services may be unavailable due to system maintenance, technical difficulties or for any other reason. We will attempt to post alerts on Our website to notify you of these interruptions in Services. We assume no responsibility for any Service interruptions or any resulting damages that you may incur. We reserve the right to change, suspend or discontinue the Services, in whole or in part, or your use of the Services, in whole or in part, immediately and at any time without prior notice to you.
  9. Eligible items. You agree to scan and deposit only checks as that term is defined in Federal Reserve Regulation CC ("Reg CC"). You agree that the image of the check transmitted to State Farm Bank shall be deemed an "item" within the meaning of Article 4 of the Uniform Commercial Code as adopted in Illinois. You agree that you will not use the Services to scan and deposit any checks or other items as shown below:
    a. Payable on sight or payable through Drafts as defined in Reg CC.
    b. Checks made payable to a business being deposited into a consumer account. Additionally you agree if there are any state or federal tax consequences from a business deposit into a consumer account, you will be solely and personally responsible.
    c. Checks with any altered or illegible entry on the face of the check or any endorsement on the back of the check other than that specified in this Agreement.
    d. Checks which you know or should reasonably know are not properly payable for any reason, include knowledge of a stop payment order, fraud or other factors rendering the Checks not properly payable.
    e. Checks which have been converted to a substitute check or are remotely created checks, as defined in Reg CC.
    f. Checks that have previously been submitted through the Services or through a remote deposit capture service offered at any other financial institution.
    g. Checks drawn on a financial institution located outside the United States or that are otherwise not payable in United States currency.
    h. Checks or items dated more than six months prior to the date the Services are used.
    i. Checks or items prohibited by State Farm Bank's current procedures relating to the Services or which are otherwise not acceptable under the terms of your State Farm Bank account.
  10. Returned Items. Returned items will be handled in accordance with your Deposit Account Agreement and if an item is returned for any reason you may be charged a fee (See Fee Schedule). You may request a copy of any returned item in accordance with your Deposit Account Agreement and Fee Schedule.
  11. Receipt and Legibility. We may provide you with a confirmation indicating receipt of an electronic image of a Check. Our confirmation shall not be considered confirmation that the transmission was satisfactory or that the Check was legible. The electronic image of the Checks you create must be legible as determined by State Farm Bank in its sole discretion. Without limiting the foregoing, the electronic image quality of the Checks must comply with the requirements established from time to time by State Farm Bank, ANSI, the Board of Governors of the Federal Reserve Board, or any other regulatory agency, clearing house or association. We are not responsible for Checks we do not receive for any reason including disruption in transmission of electronic images, however caused, or inability to read or process any Check because of image quality or legibility.
  12. Required Endorsement. You must endorse all Checks submitted through the Services as follows: For deposit only, State Farm Bank's F.S.B. account #______" (listing your State Farm Bank account number) "_____[customer signature]___________,
  13. Availability of Funds. You agree that items transmitted using the Services are not subject to the funds availability requirements of Federal Reserve Board Regulation CC. Funds deposited using the Services will be available in accordance with the Funds Availability Policy if the image is received by 2:00 P.M. Central Time, provided that a hold will be placed on all amounts in excess of $500.00 per item deposited through the Services. The hold will last until funds are received by State Farm Bank or such earlier time as State Farm Bank may determine in its absolute discretion. State Farm Bank may make such funds available sooner based on such factors as credit worthiness, the length and extent of your relationship with us, transaction and experience information, and such other factors as State Farm Bank, in its sole discretion, deems relevant. However, if we have reasonable cause to believe the check is uncollectible, we may not make any funds available. If we are not going to make the funds from your deposit available, we will mail you a notice the first business day after we received your deposit providing explanation and when the funds will be available, if applicable.
  14. Check Retention. Upon your receipt of a confirmation from State Farm Bank that we have received the electronic image of a Check you must keep the Check for a minimum period of thirty (30) days. Upon request by State Farm Bank you will provide the actual Check to State Farm Bank.
  15. Hardware and Software. In order to use the Services, you must obtain and maintain, at your expense, compatible hardware and software as specified by State Farm Bank from time to time. The hardware and software requirements may change at any time subject to State Farm Bank's sole discretion. Your use of the Services shall not be construed as a grant of a license or any interest in the Services or the underlying hardware or software owned by State Farm Bank. See statefarm.com for current hardware and software specifications. Such specifications are a part of this Agreement and your failure to comply with the specifications constitutes a breach of this Agreement. The Services and software provided by State Farm Bank are the property of State Farm Bank.
  16. Conversion to ACH. At State Farm Bank's sole discretion we may modify the format of Our file and By using the Services you are authorizing State Farm Bank to convert the items presented to ACH transactions for collection if this format is used by State Farm Bank.
  17. Errors. You agree to notify State Farm Bank of any suspected errors regarding items deposited through the Services right away, and in no event later than 60 days after the applicable State Farm Bank account statement is sent. Unless you notify State Farm Bank within 60 days, such statement regarding all deposits made through the Services shall be deemed correct, and you are prohibited from bringing a claim against State Farm Bank for such alleged error. If an item is converted to an ACH transaction by us, any dispute concerning the item will be governed by the terms of your Electronic Funds Transfer Agreement.
  18. Presentment. The manner in which the items are cleared, presented for payment, and collected shall be in State Farm Bank's sole discretion subject to the Depository Agreement and Disclosures governing your account.
  19. Ownership & License. You agree that State Farm Bank retains all ownership and proprietary rights in the Services, associated content, technology, and website(s). Your use of the Services is subject to and conditioned upon your complete compliance with this Agreement. Without limiting the effect of the foregoing, any breach of this Agreement immediately terminates your right to use the Services. Without limiting the restriction of the foregoing, you may not use the Services (i) in any anti-competitive manner, (ii) for any purpose which would be contrary to State Farm Bank's business interest, or (iii) to State Farm Bank's actual or potential economic disadvantage in any aspect. You may use the Services only for non-business, personal use in accordance with this Agreement. You may not copy, reproduce, distribute or create derivative works from the content and agree not to reverse engineer or reverse compile any of the technology used to provide the Services.
  20. DISCLAIMER OF WARRANTIES. ANYTHING IN THIS AGREEMENT TO THE CONTRARY NOTWITHSTANDING, YOU AGREE YOUR USE OF THE SERVICES IS AT YOUR ELECTION AND THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE DISCLAIM ALL WARRANTIES OF ANY KIND INCLUDING ANY WARRANTY, WHETHER EXPRESS OR IMPLIED, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED TO CREATE A WARRANTY AS TO THE AVAILBILITY, CONTINUATION, OR FUNCTIONALITY OF THE SERVICES.
  21. LIMITATION OF LIABILITY. ANYTHING IN THE AGREEMENT TO THE CONTRARY NOTWITHSTANDING, UNDER NO CIRCUMSTANCES WHATSOEVER SHALL STATE FARM BANK BE LIABLE TO YOU FOR ANY SPECIAL, CONSEQUENTIAL, INDIRECT, OR INCIDENTAL DAMAGES OF ANY KIND WHATSOEVER INCLUDING, BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, OR ATTORNEY FEES EVEN IF STATE FARM BANK HAS BEEN INFORMED OF THE POSSIBILITY THEREOF.
  22. Hold Harmless. Anything in this Agreement to the contrary notwithstanding, you agree that you shall indemnify and hold State Farm Bank fully harmless against any loss, damages, claims, or expenses of any kind whatsoever sustained or incurred by a third party, including costs and reasonable attorneys' fees, incurred as a result of your use of the Services.
  23. User warranties and indemnification. You warrant to State Farm Bank that:
    a. You will only transmit eligible items.
    b. Images will meet the image quality standards.
    c. You will not transmit duplicate items.
    d. You are not aware of any factor which may impair the collectability of the item.
    e. You will not deposit or represent the original item.
    f. All information you provide to State Farm Bank is accurate and true.
    g. You will comply with this Agreement and all applicable rules, laws and regulations.
    You agree to indemnify and hold harmless State Farm Bank from any loss for breach of this warranty provision.
  24. Assignment. You may not assign this Agreement to anyone at any time. This Agreement shall terminate upon your purported assignment of the same.
  25. Governing Law. This Agreement is entered into in Bloomington, Illinois and shall be governed by the laws of the State of Illinois to the extent not preempted by Federal Law. A determination that any provision of this Agreement is unenforceable or invalid shall not render any other provision of this Agreement unenforceable or invalid.
  26. Dispute Resolution. Any dispute concerning this Agreement or the Services shall be resolved in accordance with your Customer Agreements and Disclosures.
  27. Conflict. To the extent of any conflict between this Agreement and the Customer Agreements and Disclosures the terms of this Agreement shall govern.

Revised August, 2015

State Farm Bank®, Bloomington, Illinois, is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and subject to investment risk, including possible loss of principal invested. Contact State Farm Bank toll-free at 877-SF4-BANK (877-734-2265). Callers who are hearing or speech impaired should dial 711 or use a preferred Telecommunications Relay Service.

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