Electronic Funds Transfer Agreement

Required by Regulation E · Effective January 1, 2026

1. Services Covered

This agreement governs the use of the following electronic funds transfer (EFT) services:

  • Online and mobile banking transfers
  • Direct deposits and preauthorized debits (ACH)
  • ATM transactions (withdrawals, deposits, transfers, balance inquiries)
  • Point-of-sale (POS) debit card transactions
  • Telephone banking transactions
  • Bill payment services
  • Person-to-person payments (Zelle and similar services)

2. Your Liability

Tell us AT ONCE if you believe your card, PIN, or online banking credentials have been lost, stolen, or compromised. Telephoning us at 1-800-SOUTHSIDE is the best way to reduce your potential losses.

  • If you notify us within two (2) business days, you can lose no more than $50.00 if someone uses your card without permission.
  • If you do NOT notify us within two business days, you could lose up to $500.00.
  • If you do NOT notify us within 60 days of your statement being sent, you could lose all funds in your account.

3. Types of Transactions and Limits

  • ATM withdrawals: up to $500/day
  • POS purchases: up to $2,500/day
  • Online transfers: up to $25,000/day for external transfers
  • Mobile check deposits: up to $2,500/day
  • Bill payments: up to $10,000/day

4. Business Days

For EFT purposes, our business days are Monday through Friday, excluding federal holidays. Saturday is a business day for in-person transactions but not for check processing.

5. Right to Receive Documentation

You will receive a receipt at the time you make any transaction using an ATM or POS terminal. You will receive a monthly statement showing all EFT transactions. Preauthorized payments will be shown on your statement.

6. Preauthorized Payments

Right to stop payment: If you have authorized us to make regular payments out of your account, you can stop any of these payments by calling us at 1-800-SOUTHSIDE or writing to us at 5401 South Wentworth Avenue, Chicago, Illinois. in time for us to receive your request three (3) business days or more before the payment is scheduled.

7. Our Liability

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement, we will be liable for your losses or damages. However, there are exceptions, including:

  • If you don't have enough money in your account
  • If the terminal or system was not working properly
  • If circumstances beyond our control prevented the transfer

8. Confidentiality

We will disclose information to third parties about your account or the transfers you make only in the following circumstances:

  • When necessary to complete the transfer
  • To verify the existence and condition of your account
  • To comply with government agency or court orders
  • If you give us your written permission

9. Error Resolution

In case of errors or questions about your electronic transfers, contact us at 1-800-SOUTHSIDE or write to us at 5401 South Wentworth Avenue, Chicago, Illinois. as soon as you can. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem appeared.

Please tell us:

  • Your name and account number
  • The dollar amount of the suspected error
  • Describe the error and explain why you believe it is an error

We will investigate and respond within 10 business days (or 45 days if the error involves a POS debit card transaction or a foreign-initiated transfer).

10. Termination

You may terminate this agreement by notifying us in writing. We may terminate this agreement or any EFT service at any time with notice as required by law.

Questions? Call 1-800-SOUTHSIDE.