Agreement and Electronic Funds Transfer Act Disclosure
Agreement - This Agreement is a contract, which establishes the rules, which cover your electronic access to your accounts at Exchange Bank through Internet Banking. By using Internet Banking, you accept all the terms and conditions of this Agreement. Please read it carefully.
The terms and conditions of the deposit agreements and disclosures for each of your Exchange Bank accounts as well as your other agreements with Exchange Bank such as loans, continue to apply notwithstanding anything to the contrary in this Agreement.
This Agreement is also subject to applicable federal laws and the laws of the State of Oklahoma (except to the extent this Agreement can and does vary such rules or laws). If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. The headings in this agreement are for convenience or reference only and will not govern the interpretation of the provisions. Any waiver (express or implied) by either party of any default or breach of this Agreement must be in writing and shall not constitute a waiver of any other or subsequent default or breach. You may not assign this Agreement. This Agreement is binding upon your heirs and Exchange Bank's successors and assigns. Certain of the obligations of the parties pursuant to this Agreement that by their nature would continue beyond the termination, cancellation or expiration of this Agreement. This Agreement, together with the Internet Banking application and fees posted on our web site, constitutes the entire agreement between you and Exchange Bank with respect to the subject matter hereof and there are no understandings or agreements relative hereto which are not fully expressed herein.
Definitions - As used in this Agreement, the words "we", "our", "us" mean Exchange Bank; "You" and "your" refer to the accountholder authorized by Exchange Bank to use Internet Banking under this Agreement and anyone else authorized by that accountholder to exercise control over the accountholder's funds through Internet Banking. "Account" or "accounts" means your accounts at Exchange Bank. "Electronic funds transfers" means ATM withdrawals, preauthorized transactions, point of sale transactions, transfers to and from your Exchange Bank accounts using Internet Bank, including bill payments. "Internet Banking Services" means the services provided pursuant to this Agreement, including the Bill Payment Service. "Business days" means Monday through Friday. Holidays are not included.
Access - To use Internet Banking, you must be at least 18 years of age, you must have at least one account at Exchange Bank, access to Internet service, and an e-mail address. Once we have received your Internet Banking application and verified your account information, we will contact you with confirmation of our acceptance of your enrollment. For joint accounts, we recommend that each person have a separate User ID and Personal Identification Number. Each person on a joint account will be liable for all transactions that are made on that account by all other joint account holders of the account. Internet Banking in your application can use Internet Banking to access the Exchange Bank accounts, which you have designated for access. You can add or delete any of your accounts from this agreement by written notification. Note that you may only designate accounts to which you are an authorized signatory. Be aware, however, that all accounts that you designate (whether they are single party accounts or joint accounts) may be accessed and viewed by any party having access to your ID and PIN. Accounts requiring more than one signature may not be accessed through Internet Banking. We undertake no obligation to monitor transactions through Internet Banking to determine that you make them.
Internet Banking Services - You can use Internet Banking to check the balance of your Exchange Bank accounts, view Exchange Bank account histories, transfer funds between your Exchange Bank accounts, view images of your checks and deposits, make stop payment requests, send us e-mail, and pay bills from your Exchange Bank accounts in the amounts and on the dates you request.
Hours of Access - You can use Internet Banking seven days a week, twenty-four hours a day, although some or all Internet Banking services may no be available occasionally due to emergency or system maintenance. We agree to post notice of any extended periods of non-availability on the Internet Banking website.
Your ID & PIN - For security purposes, you are required to change your Personal Identification Number (PIN) upon your initial log in to Internet Banking to a six-digit number. You determine what PIN you will use and the identity of your PIN is not communicated to us. Your may change the initial ID number assigned to you. After the first log in use the arrow to the right of the "account listing" found on the upper left side of the home banking page. By dropping this box and clicking on "management", you will find there are several things you can change. You agree that we are authorized to act on instructions received under your ID and PIN. You accept responsibility for the confidentiality and security of your ID and PIN and agree to change your PIN regularly. Your PIN should not be associated with any commonly known personal identification, such as social security numbers, address, date of birth and should be memorized rather than written down.
Security - You understand the importance of your role in preventing misuse of your accounts through Internet Banking and you agree to promptly examine your paper statement for each of your Exchange Bank accounts as soon as you receive it. You agree to protect the confidentiality of your account and account number, and your personal identification information, such as your driver's license number and social security number. You understand that personal identification information by itself, or together with information related to your account, may allow unauthorized access to your account. Your login ID and PIN are intended to provide security against unauthorized entry and access to your accounts. Data transferred via Internet Banking is encrypted in an effort to provide transmission security and Internet Banking utilizes identification technology to verify that the sender and receiver of Internet Banking transmissions can be appropriately identified by each other.
Posting of Transfers - Transfers initiated through Internet Banking before 3 p.m., local time, on a business day, Monday through Friday are posted to your account the same day. Transfers completed after 3 p.m., local time, on a business day, and those completed on a Saturday, Sunday or banking holiday, will be posted on the next business day. Internet Banking identifies transfers based upon the log in ID of the user who made the electronic transfer. You agree to communicate with any other persons with authorized access to your accounts concerning any transfers or bill payments from your accounts in order to avoid overdrafts.
Overdrafts (Order of Payments, Transfers and other Withdrawals) - If your account has insufficient funds to perform all electronic fund transfers you have requested for a given business day, including Bill Payment, then:
1. Electronic funds transfers involving currency disbursements, like ATM withdrawals, will have priority;
2. Electronic fund transfers initiated through Internet Banking which would result in an overdraft of your account may, at our discretion, be cancelled;
3. Bill payment requests to be made electronically will not be made until sufficient funds are available to complete the requests;
4. In the event the electronic fund transfers initiated through Internet Banking, which would result in an overdraft of your account, are not cancelled, overdraft charges may be assessed pursuant to the terms of the deposit agreement for that account.
Limits on Amounts and Frequency of Internet Banking Transactions - The number of transfers from your accounts and the amounts, which may be transferred, are limited pursuant to the terms of the applicable deposit agreement and disclosure for those accounts. If a hold has been placed on deposits made to an account from which you wish to transfer funds, you cannot transfer the portion of the funds held until the hold expires. Bill payments are limited to a maximum amount of $9,999.99.
Internet Banking Bill Payment Service - The Bill Payment Service requires a separate ID and PIN number and there is a monthly fee for this service. You must designate the complete name of the payee, the account number, and the payees' remittance address, all exactly as shown on the billing statement or invoice; the amount of the payment; and the date you want the payment to be debited from your account. If the date you want the payment to be debited from your account is not a business day, your account will be debited the next business day. By using the Internet Banking Bill Payment Service option, you agree that, based upon instructions received under your password, we can charge your designated account by electronic transfer, "no signature required draft," or by debiting and remitting funds on your behalf. We reserve the right to refuse to pay any payee designated by you. If we do so, we will notify you promptly.
Scheduling Internet Banking Payments - If the payee is to be paid by paper check you understand and agree that paper checks are mailed to the payee and that you must allow for normal postal delivery time. If the payee is to be paid electronically (as indicated on the Bill Payer list), you understand and agree that the payee may not receive the payment up to 72 hours after the date the payment is debited from your account. You understand and agree that we are not responsible for the timely delivery of mail or the improper transmission or handling of payments by a third party such as the failure of the bill payment payee to properly post a payment to your account.
How to Cancel a Bill Payment - To cancel a bill payment that you have scheduled through Internet Banking, you must cancel the payment online via Internet Banking (by following the onscreen instructions) before 3 p.m. local time, on the date the payment is scheduled to be debited from your account.
Stop-Payment Requests - Stopping the payment of a check is different from the cancellation of a bill payment. Once. The bill payment has be debited from your account, you CANNOT cancel or stop a bill payment which has been paid electronically. You may be able to stop an Internet Banking bill payment paid by paper draft by contacting us by telephone before the paper draft has cleared or by initiating a stop-payment request yourself through Internet Banking. If the paper draft has not cleared, we will immediately process your stop-payment request. To be effective this type of stop-payment request must precisely identify the name of the payee, the payee-assigned account number, the amount and the scheduled date of the payment. You will incur stop-payment charges as disclosed in the current fee schedule for the applicable account.
Disclosure of Account Information and Transfers - We may disclose information to third parties about your account or the transfer you make ONLY: when it is necessary to complete transfers; or in order to verify the existence and condition of your account for the third party, such as a credit bureau or merchant, or in order to comply with government agency or court orders, or if you give us your written permission.
Periodic Statements - You will not receive a separate Internet Banking statement. Transfers to and from your accounts using Internet Banking will appear on the respective periodic paper statement for your Exchange Bank & Trust accounts.
Change in Terms - We may change any term of the Agreement at any time. If the change would result in increased fees for any Internet Banking service, increased liability for you, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, we agree to give you notice at least 21 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of an account or our electronic fund transfer system. We will post any required notice of the change in terms on the Exchange Bank website or forward it to you by e-mail or by postal mail. If advance notice of the change is not required, and disclosure does not jeopardize the security of the account or our electronic fund transfer system, we will notify you of the change in terms within 30 days after the change becomes effective. Your continued use of any or all of the subject Internet Banking Services indicates your acceptance of the change in terms. You acknowledge and agree that changes to fee applicable to specific accounts are governed by the applicable deposit agreements and disclosures.
In Case of Errors or Questions about Your Electronic Transfers - You may contact the Exchange Bank in case of errors or questions about any electronic funds transaction. Here's how: Phone: (580) 336-5531 or write to: Exchange Bank & Trust Co., P. O. Box 797, Perry, OK 73077. The Exchange Bank must be notified as soon as possible if you think your checking or savings statement or ATM or POS transaction receipt is in error or if you need information about a transfer on any statement. You must contact us within 60 days after we have sent your FIRST checking or savings statement on which the error appeared. When you contact us, please provide the following:
1. Your name and account number;
2. A description of the error or the transfer you are unsure about, explaining as clearly as you can why you believe it is an error or why you need more information;
3. The dollar amount of the suspected error.
We will determine whether an error occurred within 10 business days (20 business days if the error occurred within 30 days after the first deposit to the account was made) after we hear from you and will correct the error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a POS transaction or a foreign initiated transfer or occurred within 30 days after the first deposit to the account was made) to investigate your complaint of question. If we decide to do this, we will credit your account within 10 business days (20 days if the error occurred within 30 days after the first deposit to the account was made) 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 questions in writing and we did not receive it within 10 business days, we may not credit your account. We will inform you of the result 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.
Our Liability for Failure to Make a Transfer - If we do not complete a transfer to or from your account, including a bill payment, on time or in the correct amount, according to our agreement with you when you have properly instructed us to do so, we will be liable to you for your losses or damages caused as a result. However, there are some exceptions. We will NOT be liable, for instance:
1. If, through no fault of ours, you do not have enough money in your account to make a transfer.
2. If a legal order directs us to prohibit withdrawals from the account.
3. If your account is closed, or if it has been frozen.
4. If the transfer would cause your balance to go over the credit limit of an established line of credit or the credit limit for any credit arrangement set up to cover overdrafts.. 5. If you, or anyone authorized by you, commits any fraud or violates any law or regulation.
6. If any electronic terminal, telecommunication device, or any part of the Internet Banking electronic fund transfer system is not working properly and you knew about the problem when you started the transfer.
7. If you have not provided us with complete and correct payment information for the Bill Payment Service, including, without limitation, the name, address, your payee-assigned account number, payment date, and payment amount for the payee on a bill payment.
8. If you have not properly followed the on-screen instruction for using Internet Banking.
9. If circumstances beyond our control (such as fire, flood, interruption in telephone service or other communication lines) prevent the transfer, despite reasonable precautions that we have taken.
Your Liability for Unauthorized Transfers (Liability limits apply only to consumer accounts) - CONTACT US AT ONCE if you believe your password has been lost, stolen, used without your authorization, or otherwise compromised, or if someone has transferred or may transfer money from your accounts without your permission. An immediate telephone call to us is the best way to reduce any possible losses. You could lose all the money in your accounts (plus your maximum overdraft line of credit, if any). If you contact us within 2 business days after you learn of the loss, theft, compromise, or unauthorized use of your password, you can lose no more that $50 if someone used your password without your permission. If you do NOT contact us within 2 business days after you learn of the loss, theft, compromise, or unauthorized use of your password, and we can prove we could have stopped someone from using your password to access your accounts without your permission if you had told us, you could lose as much as $500. Also, if your paper statement shows transfers that you did not make, contact us at once. If you do not tell us within 60 days after the paper statement was mailed to you, you may not get back any money you lost through transactions made after the 60 day time period if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or hospital stay) kept you from contacting us, we will extend the time periods. You may contact us by phone at (580) 336-5531 or write to us at Exchange Bank & Trust Co., P. O. Box 797, Perry, OK 73077.
Disclaimer of Warranty and Limitation of Liability - We make no warranty of any kind, express or implied, including any implied warranty of merchantability or fitness for a particular purpose, in connection with the Internet Banking Services provided to you under this Agreement. We do not and cannot warrant that Internet Banking will operate without errors or that any or all Internet Banking Services will be available and operational at all times. Except as specifically provided in this Agreement, or otherwise required by law, you agree that our officers, directors, employees, agents or contractors are not liable for any indirect, incidental, special or consequential damages under or by reason of any services or products provided under this Agreement or by reason of your use of or access to Internet Banking, including loss of profits, revenue, data or use by you or any third party, whether in an action in contract or tort or based on a warranty. Further, in no event shall the liability of Exchange Bank exceed the amounts paid by you for the services provided to you through Internet Banking.
Your Right to Terminate - You may cancel your Internet Banking service at any time by providing us with written notice by postal mail or fax. Your access to Internet Banking will be suspended within 3 business days of our receipt of your instructions to cancel the service. You will remain responsible for all outstanding fees and charges incurred prior to the date of cancellation.
Our Right to Terminate - You agree that we can terminate or limit your access to Internet Banking Services without prior notice, if you have insufficient funds in any one of your Exchange Bank & Trust Co. accounts to cover outstanding debits or bill payment requests. Internet Banking service may be reinstated, in our sole discretion, once sufficient funds are available to cover any fees, pending transfers, and debits. We may also terminate your Internet Banking services upon reasonable notice, for any other reason at our sole discretion.
Fees and Charges - There are currently no fees or charges to use the basic Internet Banking services. Bill Payment Services are available and fees apply depending which plan is designated.
Consent to Electronic Delivery of Notices - You agree that any notice or other type of communication provided to you pursuant to the terms of this Agreement, and any future disclosures required by law, including electronic fund transfer disclosures, may be made electronically by posting the notice on the Exchange Bank & Trust co. website or by e-mail. You agree to notify us immediately of any change in your e-mail address.
Communications between Exchange Bank & Trust Co. and You - Unless this Agreement provides otherwise, you can communicate with in any one of the following ways: E-mail - You can contact us by e-mail at Imcdaniel@easybanking.net (Please note that banking transactions through Internet Banking are not made via e-mail.) Telephone - You can contact us by telephone at (580) 336-5531. Postal Mail - You can write to us at: Exchange Bank & Trust Co., P. O. Box 797, Perry, OK 73077