Terms & Conditions

BILL PAYING AGREEMENT/TERMS & CONDITIONS

This is your bill paying agreement with Phoenixville Federal Bank & Trust. You may use
Phoenixville Federal Bank & Trust's business bill paying service to direct Phoenixville Federal
Bank & Trust to make payments from your designated checking account to the Payees you
choose in accordance with this agreement. The terms and conditions of this Agreement are
in addition to the Account agreements, disclosures and other documents in effect from time
to time governing your Account (the Account Rules).

"You" or "your" means each person who is authorized to use the service. "Payee" means
anyone, including Phoenixville Federal Bank & Trust, you designate and Phoenixville Federal
Bank & Trust accepts as a payee.

HOW TO SET UP PAYEES/PAYMENTS

Complete a bill paying enrollment form. IF YOU WANT TO ADD A NEW PAYEE, USE “SET UP
ACCOUNTS/PAYEE” ON THE INTERNET OR SPEAK TO A SERVICE REPRESENTATIVE. You
may add a new fixed payment to a Payee, only if the Payee is on your authorized list of
payees, and by accessing the Service and entering the appropriate information. Most other
additions, deletions, or changes can be made by using the Service. Phoenixville Federal
Bank & Trust reserves the right to refuse the designation of a Payee for any reason. Each
Payee accepted by Phoenixville Federal Bank & Trust will be assigned a payee code. You
may pay any payee you wish in the US. Phoenixville Federal Bank & Trust is not responsible
if a Bill Payment can not be made due to incomplete, incorrect, or outdated information
provided by you regarding a Payee or if you attempt to pay a Payee that is not on your
Authorized Payee list.

ACCESSING THE SERVICE

When you complete your bill paying enrollment form, you will select a USER I.D. and
Personal Identification Number (PIN). Phoenixville Federal Bank & Trust will make every
effort to accommodate your request. Each time you access the Service, you will be asked
to enter your USER ID AND PIN. Correct responses will give you access to the Service.

THE BILL PAYING PROCESS

Single Payments

A single payment will be processed on the business day (generally Monday through Friday,
except certain holidays) that you designate as the payment’s process date, provided the
payment is submitted prior to the daily cut-off time on that date. The daily cut-off time,
which is controlled by Phoenixville Federal Bank & Trust, is currently 3:00PM Eastern
Standard time. A single payment submitted after the cut-off time on the designated process
date will be processed on the following business day. If you designate a non-business date
(generally weekends and certain holidays) as the payment’s process date, the payment will
be processed on the first business day following the designated process date.

Recurring Payments

When a recurring payment is processed, it is automatically rescheduled by the system.
Based upon your selected frequency settings for the payment, a process date is calculated
for the next occurrence of the payment. If the calculated process date is a non-business
date (generally weekends and certain holidays), it is adjusted based upon the following
rules:

If the recurring payment’s “Pay Backward” option is selected, the process date for the new
occurrence of the payment is adjusted to the first business date prior to the calculated
process date.
If the recurring payment’s “Pay Backward” option is not selected (or if the “Pay Backward”
option is not available), the process date for the new occurrence of the payment is adjusted
to the first business date after the calculated process date.

Note: If your frequency settings for the recurring payment specify the 29th, 30th, or 31st as
a particular day of the month for processing and that day does not exist in the month of the
calculated process date, then the last calendar day of that month is used as the calculated
process date.

For Single and Recurring Payments, YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS,
PRIOR TO THE DUE DATE, for each bill payment to reach the Payee. (For mid west
subscribers, allow 7 days and for west coast subscribers, allow 8 days.) Any bill payment
can be changed or canceled, provided you access the Bill Pay Service prior to the cut-off
time on the business day prior to the business day the bill payment is going to be initiated.

You agree to have available and collected funds on deposit in the account you designate in
amounts sufficient to pay for all bill payments requested, as well as, any other payment
obligations you have to Phoenixville Federal Bank & Trust. Phoenixville Federal Bank &
Trust reserves the right, without liability, to reject or reverse a bill payment if you fail to
comply with this requirement or any other terms of this agreement. If you do not have
sufficient funds in the Account and Phoenixville Federal Bank & Trust has not exercised its
right to reverse or reject a bill payment, you agree to pay for such payment obligations on
demand. You further agree Phoenixville Federal Bank & Trust, at its option, may charge
any of your accounts with Phoenixville Federal Bank & Trust to cover such payment
obligations.

Phoenixville Federal Bank & Trust reserves the right to change the cut-off time. You will
receive notice if it changes.

LIABILITY

You are solely responsible for controlling the safekeeping of, and access to, your Personal
Identification Number (PIN). You are liable for all transactions you make or that you
authorize another person to make even if that person exceeds his or her authority. If you
want to terminate another person's authority, you must notify Phoenixville Federal Bank &
Trust and arrange to change your PIN. You will be responsible for any Bill Payment request
you make that contains an error or is a duplicate of another Bill Payment. Phoenixville
Federal Bank & Trust is not responsible for a Bill Payment that is not made if you did not
properly follow the instructions for making a Bill Payment. Phoenixville Federal Bank &
Trust is not liable for any failure to make a Bill Payment if you fail to promptly notify
Phoenixville Federal Bank & Trust after you learn that you have not received credit from a
Payee for a Bill Payment. Phoenixville Federal Bank & Trust is not responsible for your acts
or omissions or those of any other person, including, without limitation, any transmission or
communications facility, and no such party shall be deemed to be Phoenixville Federal Bank
& Trust's agent. In any event, Phoenixville Federal Bank & Trust will not be liable for any
special, consequential, incidental, or punitive losses, damages, or expenses in connection
with this Agreement or the Service, even if Phoenixville Federal Bank & Trust has
knowledge of the possibility of them. Phoenixville Federal Bank & Trust is not liable for any
act, failure to act or delay in acting if it is caused, in whole or in part, by any cause beyond
Phoenixville Federal Bank & Trust's reasonable control.

Amendment and Termination

Phoenixville Federal Bank & Trust has the right to change this Agreement at any time by
notice mailed to you at the last address shown for the Account on Phoenixville Federal Bank
& Trust's records, by posting notice in branches of Phoenixville Federal Bank & Trust, or as
otherwise permitted by law.

Phoenixville Federal Bank & Trust has the right to terminate this Agreement at any time.
You may terminate this Agreement by written notice to Phoenixville Federal Bank & Trust.
Phoenixville Federal Bank & Trust is not responsible for any fixed payment made before
Phoenixville Federal Bank & Trust has a reasonable opportunity to act on your termination
notice. You remain obligated for any payments made by Phoenixville Federal Bank & Trust
on your behalf.

Bill payments are processed by Electronic Fund Transfers (EFT). Please see the Electronic
Fund Transfers Disclosure Statement received when you opened your account,
which discloses important information concerning your rights and obligations.