Online Banking Agreement and Disclosure
This Online Banking Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of the Online Banking and Bill Payment service ("Services"). It also describes the rights and obligations of Exchange Bank & Trust ("Bank"). Please read this Agreement carefully. By requesting and using one of these Services, you agree to comply with the terms and conditions of this Agreement.
The following definitions apply in this Agreement.
- "Authorized Representative" refers to a person with authority (with respect to the account);
- "Bill Payment" is the online service that enables the scheduling of bill payments using a personal computer;
- "Fixed Payment" is a scheduled payment which recurs in the same amount at regular weekly, biweekly, monthly, semi-monthly, quarterly, annual or semi-annual intervals;
- "ISP" refers to your Internet Service Provider;
- "Online Banking" is the internet-based service providing access to your Bank account(s);
- "Online Account" means the bank account from which you will be conducting transactions using a Service;
- "Password" is the system-generated code sent to you by Bank for use during the initial sign-on, or the codes you select after the initial sign-one, that establishes your connection to the Service;
- "PC" means your personal computer which enables you, with the Internet browser and ISP, to access your Online Account;
- "Time of day" references are to Central Standard Time;
- "User ID" is the Bank-generated identification code assigned to you use during the initial sign-on, or the codes you select after the initial sign-one, that establishes your connection to the Service;
- "Variable payment" is an unscheduled payment which is executed on the basis of each individual bill;
- "We", "us", or "Bank" refers to the Exchange Bank & Trust of Atchison which offers the Services and which holds the accounts accessed by the Services; and
- "You" or "your" refers to the owner of the account or the authorized representative.
2. Access to Services
The Bank will provide instructions on how to use the Online Banking service or Bill Payments service. You will gain access to your Online Accounts through the use of your Internet-enabled device, your ISP, your Password and your User ID. You may access your Online Accounts 24-hours a day, seven (7) days a week. However, availability of Services may be suspended for brief periods of time for purposes of maintenance, updating, and revising the software.
For purposes of transactions, the Bank's business days are Monday through Friday, excluding holidays and weekends. All Online Banking transaction requests received after 7:00 p.m. on business days and all transactions, which are requested on Saturdays, Sundays, or holidays on which the Bank chooses to remain closed, will be processed on the Bank's next business day.
3. Banking Transactions with Online Banking
You may access your Bank accounts online.
In addition to viewing account information, you may use Online Banking to conduct the transfer of funds among your checking accounts, savings accounts and money market accounts. NOTE: Because regulations require the Bank to limit preauthorized transfers (including Online Banking transfers), the following limitations apply:
Transfers from a money market deposit account or a savings account to another account or to third parties by preauthorized, automatic, telephone transfers, or Online Banking are limited to six (6) each four (4) week or similar period with no more than three (3) by check or similar order to third parties.
New services may be introduced for Online Banking from time to time. The Bank will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules, which will be made available to you concerning these services.
4. Schedule of Fees
The Bank offers the benefits and convenience of the Online Banking and/or Bill Payment services to personal account holders at no charge! The Cash Management service is available to business customers and is covered by a separate fee schedule and agreement.
You will continue to receive your regular account statement either monthly or semi-annually, depending on the type of account.
6. Use of Your Security Password
You are responsible for keeping your password and Online 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 User ID;
- Do not leave your PC unattended while you are in the Bank's Online Banking Site;
- Never leave your account information within range of others; and
- Do not send privileged account information (account number, Password, etc.) in any public or general e-mail system.
If you believe your Password has been lost or stolen, or if you suspect any fraudulent activity on your account; call the Bank immediately at 913-367-6000 between the hours of 8:00 a.m. to 5:00 p.m. Central Time, Monday through Friday. Telephoning the Bank is the best way of minimizing your losses and liability. If you notify the Bank within two (2) business days after you learn of the loss or theft of your Password, your liability will not exceed $50.00 should someone use your Password without your permission. If you do NOT notify the Bank within two (2) business days after the loss or theft of your Password, your liability could be as much as $500.00, if the Bank establishes that the use of your Password could have been prevented had the Bank been notified within that two-day period.
If you believe your Password has been lost or stolen, please use the Password change feature within Online Banking section to change your Password.
7. Electronic Mail (E-mail)
If you send the Bank an e-mail message, the Bank will be deemed to have received it on the following business day. You should not rely on e-mail if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur.
NOTE: General E-mail transmissions are not secure. We advise you not to send us or ask for sensitive information such as account numbers, Password, account information, etc.
8. Bill Payment Services (Optional)
Description of Service:
The Bill Payment service permits you to use your Internet-enabled device 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 Payment service, you can pay bills from your Bill Payment Account to businesses or individuals.
All payments you make will be deducted from the checking account that you designate as your Bill Payment Account for the Bill Payment 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 Payment service to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility if delayed or improperly processed or credited.
Funds must be available in your Bill Payment Account on the scheduled payment 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 preceding business day (e.g., Friday). After funds are withdrawn from your Bill Payment Account to make a payment, we may make the payment either by transferring funds electronically to the payee or by mailing the payee a check.
You may choose to schedule fixed payments or variable payments. If a fixed payment is chosen, the bill will be paid automatically each billing period. Variable payments are not made until you enter the amount of the current bill. You may also change or skip payments that are fixed payments. However, you must allow at least three (3) business days after we receive any change to information you have given us about a payee to reflect the change in our records.
When you create a new payee in the Bill Payment service, it takes two (2) business days to set up the payee to receive payments. You should schedule a payment to a new payee at least ten (10) business days before any payment due date, to allow us time to set up the payee and verify information about your account with the payee.
For all subsequent payments, you agree to allow at least four (4) to ten (10) business days between the date you schedule a payment to be initiated and the payment 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 Automatic Clearing House (ACH) electronic payment, it will take up to four (4) business days to reach the payee. However, if the company or person that you are paying cannot accept an electronic payment, the Bill Payment service will send a check that may take up to ten (10) 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 provided, but the payee does not receive the payment in a timely manner, the Bank will work with the payee on your behalf to reverse any late fees or charges.
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 Payment Account 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 of the change in advance; and
- The failure of any payee to correctly account for or credit the payment in a timely manner, or any other circumstances beyond the control of the Bank.
Payments will be processed twice a day Monday through Friday (excludes Saturdays, Sundays and holidays). Payments are processed at 2:00 a.m. CT and at 12:00 p.m. CT. If you schedule a payment to be processed before 2:00 a.m. CT for payment that day, it will be processed at 2:00 a.m.; subsequently, if you schedule a payment to be processed after that time, it is processed at 12:00 noon CT that same day. If you schedule a payment to be processed after 12:00 noon CT, it will be processed the next business day at 2:00 a.m. For all entries made using the Services, the time recorded by the Online Banking service will be considered the official time of the transaction.
When you have entered and transmitted payment instructions, you authorize the Bank to withdraw funds from your account accordingly. For electronic payments, these funds are taken from your account on the day of your scheduled payment. For check payments the amount will be deducted when the check is presented to the Bank for payment. If there are insufficient funds in the account to make an electronic payment, payment will not be made. The payment will continue to be attempted until either you have deposited funds to allow the payment to go through, or until you delete the payment. If making a payment by check and there are insufficient funds in the account to pay the check on the day it is presented for payment, the bank will honor or dishonor the check based on it’s normal overdraft policy and you will be responsible for any non-sufficient funds or overdraft charges the Bank may impose, as stated in the deposit agreements governing your accounts. Repeated requests for payments when there are not sufficient funds in the account may result in termination of your Bill Payment service. The Bank reserves the right to refuse to honor payment requests that reasonably appear to the Bank to be fraudulent, incomplete, erroneous, or if you do not follow the Bank’s instructions for Bill Pay. In addition, the Bank will not be able to execute any bill payment if the payee cannot or will not accept such payment.
Cancel or Change Payment Instructions
To cancel a bill payment that you have scheduled, you must cancel the payment online by 11:45 p.m. the business day prior to the business day the payment is scheduled to be paid. For stop payment requests initiated after processing, you must contact customer support at (913) 367-6000 or (800) 255-6762. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a stop payment fee which will be automatically debited from your account. You may be required to put your request in writing and get it to us within fourteen (14) days. Stop payment orders will be in effect for a period of six (6) months. After six (6) months, any stop payment will terminate and must be renewed in order to remain in effect. The bank may pay any item that is presented following the lapse of any stop payment order.
No Signature Required
When any payment or other online Service generates items to be charged to your account, you agree that we may debit your Bill Payment account without requiring your signature on the item and without prior notice to you.
9. Business Accounts
If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to:
- Enter into this Agreement, as amended from time to time;
- Access each account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future; and
- Use any Online banking service in any manner and for any purpose available through the Service, whether now available or available at some time in the future.
10. Term and Termination
This Agreement will become effective on the Effective Date and shall remain in full force and effect until termination in accordance with the following provisions.
Termination for Cause
We may immediately terminate your electronic banking privileges (including the Bill Payment Service) without notice to you under the following circumstances:
- You do not pay any fee required by this Agreement when due or
- 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.
Termination for Convenience
To terminate this Agreement, you must notify the Bank and provide your name, address, the Service(s) you are discontinuing, and the termination date of the Service(s). When Bill Payment is terminated, any prescheduled bill payments made through Online Banking will also be terminated. You may notify the Bank by one of the following methods:
- By sending an e-mail to: [email protected]
- By calling 913-367-6000; or
- By writing a letter and either sending it to the following address: Attention: Internet Banking Branch Manager, Exchange Bank & Trust, P. O. Box 189, Atchison, KS 66002; or giving it to a Customer Service Representative at any of the Bank's locations.
We may convert your account to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive One hundred and twenty (120) day period. If your account is considered inactive, you must contact us to have the Service activated before you will be able to schedule any transaction through the Service.
11. Electronic Fund Transfer Provisions for Consumers
These provisions are only applicable to online electronic fund transfers, which credit or debit a consumer's checking, savings, or other account and are subject to the Federal Reserve Board's Regulation E (an "EFT"). When applicable, the Bank may rely on any exceptions to these provisions, which are contained in Regulation E. All terms that are not defined in this Agreement but which are defined in Regulation E shall have the same meaning when used in this section.
The following determines your liability for any unauthorized EFT or any series of related unauthorized EFTs:
- If you notify the Bank within two (2) business days after your password was lost or stolen, your liability will not exceed $50.00 or the amount of the unauthorized EFTs that occur before notification, whichever is less.
- If you fail to notify the Bank within two (2) business days after your password was lost or stolen, and the Bank establishes that these EFTs would not have occurred had the Bank been notified, you could lose as much as $500.
- You must report an unauthorized EFT, which appears, on your periodic statement, no later than sixty (60) days of transmittal of the statement to avoid liability for subsequent transfers. If you do not notify us within sixty (60) days, you may not get back any money you lost after sixty (60) days if the Bank establishes that these EFTs would not have occurred had the Bank been notified.
- If the report is made orally, we will require that you send the complaint or question in writing within ten (10) business days. We will notify you with the results of the investigation within ten (10) business days and will correct any error promptly. If more time is needed, however, we may take up to forty-five (45) days to investigate a complaint or question. If this occurs, we will credit your account within ten (10) business days for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation. If your complaint or question is not received in writing within ten (10) business days, we may not credit your account until the investigation is completed. The Bank will notify you of the results of the investigation within three (3) business days. If we determine that no error occurred, we will send you a written explanation. You may request copies of the documents that were used in the investigation. If the notice of error involves an EFT occurring within thirty (30) days after the first deposit to the account, the applicable time periods for action shall be twenty (20) business days in place of ten (10) business days, and ninety (90) calendar days in place of forty-five (45) calendar days.
- You may notify the Bank by telephone, writing, or by the secure e-mail in our Online Banking site. Notification by general e-mail to report an unauthorized transaction is not secure and therefore not advised.
Telephone Numbers and Addresses
In case of errors or questions regarding an Online Banking or Bill Payment transaction, call 913-367-6000 or write us at: Exchange Bank & Trust, P.O. Box 189, Atchison, KS 66002. We must hear from you at the telephone number or address, listed above, no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. We will need:
- Your name and account number
- A description of the error or the transfer in question and an explanation concerning why you believe it is an error or need more information
- The dollar amount of the suspected error and the date on which it occurred
This section explains our liability to you only to the extent that our liability has not been separately disclosed by any other agreements, notices or disclosures. In no event shall we be liable to you for failure to provide access to your Online Banking or Bill Payment services accounts. Unless otherwise required by applicable law, we are only responsible for performing the Online Banking and Bill Payment 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 the Bank, 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 banking policy;
- If the transfer would exceed the credit limit on your overdraft line (if applicable);
- If your funds are subject to a legal proceeding or other encumbrance restricting the transfer;
- If your transfer authorization terminates by operation of 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; and
- If we have a 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, a credit agreement or any other agreement with us, or if we or you terminate this Agreement.
IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF THIS AGREEMENT.
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 Online Banking or Bill Payment account.
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 such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Explorer browser), 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 Online Banking or Bill Payment account
The Bank is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, and your hardware.
13. General Terms and Conditions
In addition to this Agreement, you and the Bank agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking Service or the Bill Payment Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures including the charges that may be imposed for electronic funds transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule contained in this Agreement. We will automatically deduct the fees related to this Service from your Bill Payments Account each month.
Changes and Modifications
The Bank may modify the terms and conditions applicable to the Services from time to time. We may send any notice to you via e-mail and you will have to be deemed to have received it three days after it is sent. The revised terms and conditions shall be effective at the earliest date allowed by applicable law. We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice.
We may assign this Agreement to an affiliate of the Bank or any successor in interest in the event of a merger, reorganization, change of control, acquisition or sale of all or substantially all assets of the business to which this Agreement is related without the other party's prior written consent
Unless otherwise required by applicable law, any notice or written communication given pursuant to this Agreement may be sent to you electronically.
Disclosure of Information
We will only disclose information to third parties about your account or transfers you make under the following circumstances:
- Where it is necessary for the provision of Online Banking and for completing transfers;
- In order to verify the existence and condition of your account
- For a third party, such as a credit bureau or merchant;
- In order to comply with government or court orders, or other reporting requirements;
- If you give us your permission.
This Agreement is governed by the laws of the State of Kansas and applicable federal law.