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Products and Services - Internet Banking Agreement and EFT Agreement and Disclosure

Internet Banking Agreement and Electronic Funds Transfer Agreement and Disclosure

This Internet Banking Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of the Internet Banking service. The agreement also describes the rights and obligations of First Shore Federal S&L Assn. ("Bank"). You should carefully read this Agreement, our Privacy Statement, and other agreements between us, including any other deposit account agreements as they exist at this time and may be amended from time to time. By requesting and using one of these Services, you agree to the terms and conditions of the Agreement and our Fee Schedule - Common Features.

I. Definitions

The following definitions apply in this Agreement:

  1. "App" means an application, a self-contained program, downloaded by a user to a mobile device.
  2. "Authorized Representative" refers to a person with authority (with respect to the account);
  3. "Bill Pay" is the online service that enables the scheduling of bill payments;
  4. "ISP" refers to your Internet Service Provider;
  5. "Internet Banking" is the Internet-based service providing access to your Bank account(s);
  6. "Mobile Banking" means a suite of services enabling you to conduct banking transactions with us from your mobile web browser or a downloadable mobile banking application;
  7. "Mobile Device" means a Mobile Phone, Tablet or other Equipment with a mobile carrier;
  8. "Online Account" means the Bank account from which you will be conducting transactions using a Service;
  9. "Password" is the customer-generated code selected by you for use during the initial sign-on, or the codes you select after the initial sign-on, that establishes your connection to the Service;
  10. "PC" means your personal computer which enables you, with the Internet browser and ISP, to access your Online Account;
  11. "Primary User" refers to the user ("You") that is the owner of the account or the authorized representative;
  12. "Purchase Rewards" is the online service that enables cash back rewards upon activating an offer;
  13. "Scheduled Transfer" is a reoccurring transfer between accounts set for a specific date that you create within the service;
  14. "Subuser" refers to the user created by the Primary User of the Internet Banking service;
  15. "Text Message Banking", "SMS Banking" refers to the use of a cellular device to send and receive electronic communications for notifications and alerts and some banking transactions;
  16. "Time of day" references are to Eastern Standard Time;
  17. "Username" or "User ID" is an identification code chosen by you for your connection to the Service;
  18. "We", "us", or "Bank" refer to First Shore Federal S&L Assn. which offers the Services and which holds the accounts accessed by the Services; and
  19. "You" or "your" refers to the owner of the account or the authorized representative.

II. Account Access

  • You may access any of your accounts at First Shore Federal where you are a primary or secondary signer on these accounts, AND acting alone, you are authorized to access the account. When you register with your social security number, you decide which accounts you want access to through Internet Banking. Once you select the account(s) to be accessed through Internet Banking, the other signer on that account can also have access to the account, if they are also registered under their social security number.
  • Access to Internet Banking is granted to you, an individual.  All primary and secondary signers may apply for individual Internet Banking access.  When your service is linked to one or more joint accounts, we may only assist you, the primary user, with Internet Banking access.  We will not discuss your individual access with any other individual, including any other signers on any joint accounts.  Those signers must also apply for individual Internet Banking access.
  • Each person on a joint account will be responsible for all transactions made by any other person on that account.
  • A joint account that requires two or more signatures for a transaction is not eligible for Internet Banking services. If one of these accounts appear on your Internet Banking access, you should notify us immediately. If you have instructed us to add an account where two signatures are required, you have authorized the transactions and we are not liable for any transactions made on that account through Internet Banking.
  • Accounts owned in a trust or fiduciary capacity are reviewed for eligibility for Internet Banking access.
  • Accounts that are accessed through Internet Banking continue to be subject to the account agreements and disclosures for such accounts. Please continue to refer to the applicable disclosures for any fees and terms and conditions relating to using the accounts.
  • Granting Access to Other People (Shared Access)

As the authenticated primary user of Internet Banking, you have the ability to entitle another person or persons (subusers) with access to your Internet Banking accounts and with certain authorities with respect to your accounts.  Shared Access includes view-only access, making transfers between designated accounts and initiating payments from designated accounts, granted individually or in combination. You have sole authority and control in sharing access with, managing and disabling subusers and/or their respective authority. You authorize us to act on transaction instructions initiated under the credentials of an authenticated subuser, just as if it was initiated under your credentials. When granting Shared Access, you assume total liability for any and all activities of a subuser with respect to your accounts, and you agree to hold us harmless in any claim you make against a subuser for breach of your agreement with said subuser pursuant to Shared Access.

III. Multifactor Authentication

Your online security is important to us.  Your Internet Banking experience may include an Enhanced Login Security service to further protect you from identity theft.  This service is known as Multifactor Authentication or MFA.

Multifactor Authentication means that two or more different types of authentication must be passed.  By using two different factors of authentication, we get a higher assurance that the customer is the intended user.

First Shore Federal offers you added security by means of the mobile phone number.  Verification is done by you, the user, receiving a text message or phone call.  You will need to enter the verification code in the verification code field.  Message and Data rates may apply.

Logging in from a Computer You Normally Use - When you choose to "Register" your private computer, a special Browser Cookie will be present on the system, which will act in place of your Login Security.  You will only need your Username and Password to access your account information.

Logging in from a Computer You DO NOT Normally Use - When you choose to list your computer as "Public", you will need to provide your Username, Password and you will be prompted to provide your Login Security One-Time Passcode (OTP) each time you log into your account.  We recommend this setting when logging in from a public computer such as a library or school computer.

IV. Internet Banking Services

  • Account balances are actual balances and reflect transactions during the current day.
  • Your transaction history will reflect any transactions through 3:00PM of the current day.
  • You may transfer funds between deposit accounts before 3:00PM and this will be reflected in your history and balance on those accounts affected that day.
  • Scheduled Transfers generally occur at the beginning of the business day requested.  The order in which items are paid may affect your available balance as items can be paid prior to the scheduled transfer time.  This process may impact when fees apply to your account.  Please refer to our Terms and Conditions for further information.
  • You may make a loan payment by transferring money from a deposit account to that loan account. If you transfer the funds online before 3:00PM, it will be posted with that effective date.
  • If you have a home equity line of credit or a share loan line of credit with First Shore Federal, you may access these funds by transferring money from your line of credit to a deposit account at First Shore Federal. Any transfer from a line of credit for less than $500 is subject to a service fee. Please see your Home Equity Loan or Share Loan Line of Credit Note, Advances of Funds section, for the amount.
  • Transactions are not allowed through Internet Banking for certificates of deposit, or Individual Retirement Accounts (IRA). You are allowed to make deposits to your Christmas Club or "Add To" CD accounts, but withdrawals are not permitted.
  • eStatements are available for all eligible accounts for which you, during enrollment, elect to receive account statements via electronic delivery within Internet Banking.   Your statements will be available for up to 18 months beginning after enrollment.

V. Mobile Banking Services

After you have enrolled in Internet Banking, you can use First Shore Federal's Mobile Banking service to access financial services and products made available by us, using a Mobile Device.  Not all Eligible Accounts are available through Mobile Banking.  You can use Mobile Banking in three ways (1) via text messages sent to a mobile phone (through SMS); (2) downloading an App to a Mobile Device or (3) visiting www.firstshorefederal.com.  To use Mobile Banking, you must have a "Mobile Device", which is a mobile phone, tablet or other equipment with the mobile carrier, operating system, data plan, software and hardware supported by us now or in the future.

Limitations and Notices Applicable to First Shore Federal Mobile Banking Services - YOU AGREE THAT THERE ARE RISKS ASSOCIATED WITH USING A MOBILE DEVICE AND THAT IN THE EVENT OF THEFT OR LOSS, YOUR CONFIDENTIAL INFORMATION COULD BE COMPROMISED.  For this reason, you should consider password protecting your Mobile Device.  You agree not to use any personally-identifiable information when creating nicknames for your Eligible Accounts.  In the event you lose, or destroy the Mobile Device whose phone number is registered with us for First Shore Federal Text Message Banking or which is running a First Shore Federal App, you should immediately (i) reset your First Shore Federal Internet Banking Password and (ii) notify your wireless carrier to disable wireless telecommunications services (voice and data) from your lost or stolen Mobile Device.

Use of First Shore Federal Mobile Banking is subject to the directions, limitations and requirements described on our Website.  At any time and without notice, First Shore Federal reserves the right to: (i) terminate its support of any Mobile Device, operating system or mobile carrier; (ii) remove or modify the types of accounts, features and functionality available through First Shore Federal Mobile Banking; and (iii) modify any security procedures or requirements First Shore Federal requires to gain access to First Shore Federal Mobile Banking.

You agree that First Shore Federal cannot guarantee and is not responsible for the availability of the data services provided by your mobile carrier, and that service may not be available from time to time.  First Shore Federal does not currently charge a fee for First Shore Federal Mobile Banking.  However, you are responsible for any data or text message charges or other fees that may be billed by your mobile carrier.  Check with your mobile carrier for details on specific fees and charges that may be applicable.

If you wish to discontinue using the First Shore Federal Mobile Banking App, delete the App from your mobile device.  To discontinue Text Message Banking (SMS Banking); Text "STOP" to 454545, you will receive a one-time opt out confirmation text message.

VI. Secure E-mail

Our Internet Banking site provides a method for you to send secure e-mail to First Shore Federal. Please logon to your Internet Banking and click on Secure Forms. You then have different form options based upon your reason for sending secure information to us. If you send an email to us without using these secure forms, do not include confidential account information in your email.

VII. Privacy

Please refer to our privacy disclosure which may be found on the home page of our website or can be obtained at any of our offices. This privacy disclosure is subject to change and may be amended by our Board of Directors.

VIII. Password and Account Protection

You are responsible for keeping your password and Internet Banking account information confidential. In order to protect yourself against fraud, you should adhere to the following guidelines:

  • Do not give out your account information, password, or username,
  • Do not leave your PC unattended while you are using the bank's Internet Banking site,
  • Never leave your account information or password unsecured or viewable by others, and
  • Do not send privileged account information (account number, password, etc.) in any public or general email system.

IX. Lost or Stolen Password or Unauthorized Use

If you believe your password or account information has been stolen:

  1. Tell us AT ONCE if you believe your password has been stolen or compromised. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account as well as your overdraft account depending on when we are given notice that your password has been stolen. If you tell us within two business days, you can lose no more than $50 if someone used your password without your permission.
  2. If you do NOT tell us within two business days after you learn that someone has stolen your password, and we can prove that we could have stopped someone from using your Internet Banking if you had told us, you could lose as much as $500.
  3. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed via post service or electronically to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.
  4. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time period. You agree to assist us in our efforts to recover any funds that were transferred without your permission or consent.

X. Errors or Questions

In case of errors or questions about your Internet Banking transactions you may reach us by:

Phone: 410-546-1101 or 800-634-6309
    Please ask for our Internet Banking Department
    Hours: 8:00 AM to 4:00 PM
Mail: First Shore Federal
    Internet Banking Department
    PO Box 4248
    Salisbury, MD 21803-4248
E-mail: [email protected]

Please have the following information available:

  1. 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 10 days.

We will determine whether an error occurred within ten (10) business days (twenty (20) business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days  or ninety (90) days if the transfer involved a new account to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days (twenty (20) business days if the transfer involved a new account) 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 request in writing and we do not receive it within ten (10) business days, we may not credit your account.  An account is considered a new account for 30 days after the first deposit is made, if you are a new customer.

We will tell you the results within three 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.

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.

XI. Bill Pay Services

A. Description of Service. First Shore Federal also offers a Bill Pay Service. This Service permits you to use your Internet Banking to direct payments from your Bill Pay Account(s) to third parties you wish to pay. Your Bill Pay Account(s) must be a checking account. Through the Bill Pay service, you can pay bills from your Bill Pay Account(s) to businesses or individuals. All payments you make will be deducted from the checking account(s) that you designate as your Bill Pay Account(s) for the 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. You should not use the Bill Pay Service to make payments to settle securities purchases, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility if delayed or improperly processed or credited.  Bill Pay payments are processed through either electronic payments, draft checks, or single checks dependent upon many different factors such as first time payments, payee acceptance of electronic payments, and risk determined by First Shore Federal's Bill Pay vendor.

B. No Duty to Monitor Payments. The Bank is only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. The Bank will not be liable in any way for damages you incur for any of the following reasons:

  • insufficient funds in your Bill Pay Account(s) to make the payment on the processing date;
  • delays in mail delivery;
  • changes to the payee's address or account number unless we've been advised on the change in advance;
  • the failure of any payee to correctly account for or credit the payment in a timely manner; or
  • any other circumstance beyond the control of the Bank.

C. Terms and Conditions of the Bill Pay Service. When you register for the Bill Pay service, you will need to accept the Terms and Conditions. Please read these to understand your responsibility for using this Service.

XII. Purchase Rewards

"Purchase Rewards" service is available within the First Shore Federal Internet Banking site.  This service is free and optional to use.  This means that the Terms and Conditions of "Purchase Rewards" are effective only if you accept them and then begin using the service.  The "Purchase Rewards" service enables you to receive cash rewards on goods and services that are offered through the program.  You may opt out of "Purchase Rewards" by clicking the Opt-Out button at the bottom of the "Purchase Rewards" page within Internet Banking.

XIII. Liability

OUR LIABILITY - This section explains our liability to you only to the extent that any other agreements, notices or disclosures have not separately disclosed our liability. In no event shall we be liable to you for failure to provide access to your Internet Banking, Mobile Banking or Bill Pay services. Unless otherwise required by applicable law, we are only responsible for performing the Internet Banking, Mobile Banking and Bill Pay services as delineated in this Agreement. We will be liable for the amount of any material losses or damages incurred by you and resulting directly from our gross negligence.

We will not be liable to you in the following instances:

  • If through no fault of ours, you do not have enough money in your account to make the transfer.
  • If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevents the transfer despite reasonable precautions that we have taken.
  • If there is a hold on your account, or if access to your account is blocked, in accordance with our policy.
  • If your funds are subject to a legal proceeding or other encumbrance restricting the transfer. If your transfer authorization terminates by operation of the law.
  • If you believe someone has accessed your accounts without your permission and you fail to notify the Bank immediately.
  • If you have not properly followed the instructions on how to make a transfer included in this Agreement.
  • If we have received incomplete or inaccurate information from you or a third party involving the account or transfer.
  • If we have reasonable basis for believing that unauthorized use of your password or account has occurred or may be occurring or if you default under this Agreement, the deposit account agreement, or credit agreement or any other agreement with us or, if we or you terminate this Agreement.

INDEMNIFICATION - You agree to indemnify, defend and hold us, our affiliate companies, directors, officers, employees and agents harmless against any third party claim, demand, suit, action or other proceeding and any expenses related to an Internet Banking, Mobile Banking or Bill Pay account.

THIRD PARTIES - We are not liable for any loss or liability resulting from any failure of your equipment or software, or that of an Internet browser provider, by an Internet access provider, or by an online service provider, nor will we be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access an Internet Banking, Mobile Banking or Bill Pay account.

VIRUS PROTECTION - The Bank is not responsible for any electronic virus that you may encounter. We suggest you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, or hardware.

XIV. Authorization

By registering for Internet Banking or Mobile Banking with First Shore Federal, you authorize us to take any action necessary to complete the transaction you initiated through Internet Banking or Mobile Banking. This authority includes, without limitation, the transfer or withdrawal of funds from any of your accounts or obtaining a loan under your loan accounts effective as though you had signed a check or withdrawal form or signed a direct loan check to obtain the loan.

XV. Business Days

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

XVI. Cancellation

You can cancel the Internet Banking services at any time by notifying us in writing at our address noted above or calling us at 410-546-1101. The cancellation will not take effect until we receive the notice and have a reasonable time to act on it. We may cancel all or any one of the services without notice to you if you do not access or process a transaction for a three-month period, or for security reasons. Once the cancellation by you or us takes effect, we will not complete any transaction initiated through the Internet Banking services (for example, recurring transfers or pending Bill Pay transactions.) The cancellation by you or us will not affect any of your obligations under this Agreement.

XVII. Fees

You can use First Shore Federal's Internet Banking, Mobile Banking, and Bill Pay for free.

XVIII. Changes and Modifications

The Bank may modify the Agreement from time to time. We may notify you by mail or e-mail. The revised Agreement shall be effective at the earliest date allowed by applicable law.


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First Shore Federal | 106 S. Division St., Salisbury MD 21801 | 410-546-1101
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