ONLINE BANKING AND BILL PAY
AGREEMENT AND DISCLOSURE STATEMENT
This agreement governs the terms and conditions that apply when you use the Adrian Bank Online Banking and Bill Pay-e Plus services. These terms and conditions are in addition to those that apply to accounts you have with us and services you obtain from us. You must follow all of the instructions and procedures that we give you that apply to these services covered by this Agreement.
Your checking and savings accounts are governed by Adrian Bank’s Deposit Account Agreement, Truth-in-Savings Disclosures, Funds Availability Disclosure, Electronic Funds Transfer Act Disclosure, and Privacy Disclosure which are provided to you at account opening.
For the purposes of this Agreement, the term “Online Banking” refers to our online banking service that allows you to transfer funds, access accounts, obtain information and perform other transactions, and “Bill Pay-e Plus” that allows you to make payments over the Internet by use of a personal computer, modem and/or other means we authorize or allow. The term “You” refers to Adrian Bank customers who have applied and been given access to Online Banking. The term “Online Banking ID” refers to the identification number that you receive to access Online Banking on the Internet. The term “Online Banking password” refers to the personal identification number that you select to access Online Banking on the Internet.
To access our Online Banking service via the Internet, you must use the Online Banking ID that is assigned to you, together with an Online Banking password. Your password is personal to you, even if other account owners have the same right to access the accounts through Online Banking with their own passwords. You should not share your Online Banking ID or Online Banking password with others. Anyone to whom you give your Online Banking ID and PIN will have the same access to your accounts as you do, even if you attempt to limit that person’s authority. We will not pass any of your account numbers over the Internet, nor will any of our employees ask you for any account numbers over the Internet.
ACCOUNTS ELIGIBLE FOR ONLINE BANKING
The following conditions and restrictions apply to your use of the Online Banking and Bill Pay-e Plus services:
1. You may use Online Banking service for accounts owned by you jointly with other persons only where you have individual authority to act on behalf of the account under the documentation creating the account.
2. You may use Online Banking for all personal accounts solely owned by you. No personal accounts may be accessed together with business accounts through Online Banking unless all owners of the personal accounts are also the sole owners of the business accounts.
3. Businesses and/or non-profit organizations authorizing banking transactions through Online Banking must submit proper legal documentation (specific to the legal status of the corporation) clearly identifying the individuals permitted to make transfers on behalf of the business or organization.
4. Accounts requiring two or more signatures to transact banking business are not eligible for Online Banking.
5. To use Adrian Bank’s Bill Pay service you must have at least one personal checking account with Adrian Bank. The checking account you designate at the time you initiate a payment will be the checking account from which that bill will be paid and from which all fees, if any, will be debited.
EXPRESS TELEBANKING AND ONLINE BANKING INTERNET BANKING TRANSACTIONS
You or someone you have authorized by giving them your Online Banking ID and password, or other means of access (even if that person exceeds the authority you have given them), can instruct us to perform the following transactions through Online Banking services:
1. Make transfers between your qualifying accounts:
2. Obtain information that we make available about your qualifying accounts; and
3. Perform other transactions that are available or authorized under Online Banking services.
ONLINE BANKING INTERNET BANKING TRANSACTIONS
You must have enough available money or credit in any account from which you instruct us to make a payment or transfer. Your ability to transfer funds between certain accounts is limited by Federal and/or State law, as indicated in the account disclosures provided to you at account opening. Certain accounts may be money market or savings accounts and withdrawals or transfers from these accounts are limited to a total of no more than six (6) pre-authorized automatic, electronic or telephone transfers per calendar month, statement cycle, or similar period of at least four weeks. The kinds of transfers and withdrawals covered by this limitation are those made to another one of your accounts, including a transaction account, at the same institution or to a third party by means of a pre-authorized or automatic transfer, or telephonic agreement, order or instruction, including data transmission. The provisions in the document entitled “Terms & Conditions of Your Deposit Account” that you received when you opened your deposit account are hereby incorporated into this Agreement. You can request another one of these at the time you complete your Online Banking application. If you are an Originator who is not a natural person, a transaction from your account may not exceed the established dollar limit.
FINANCIAL INSTITUTION’S LIABILITY
If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. 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 the transfer.
2. If you have overdraft privilege and the transfer would go over the limit.
3. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
4. There may be other exceptions stated in our agreement with you.
We will disclose information to third parties about your account or the transfers you make:
1. Where it is necessary for completing transfers; or
2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
3. In order to comply with government agency or court orders; or
4. If you give us written permission.
Our Online Banking service is generally available 24 hours a day, 7 days a week. However, we only process transactions and update information on business days. Our business days are Monday through Friday. Transfers made after 6:00 p.m. (or such earlier time as Adrian Bank establishes prior to holidays) will be processed on the next business day. Saturday, Sunday and holidays are not considered business days.
In addition to reflecting your other account activity, your statements will reflect any transfers or bill payments authorized by you using Online Banking services. You agree to notify us promptly if you change your address or if you believe there are any errors or unauthorized transactions on any statement or statement information.
YOUR LIABILITY AND RESPONSIBILITY
By entering this Agreement, you agree, jointly and severally, to all of these terms of this agreement. You warrant the truth and accuracy of all documentation and representations, whether written or oral, that you have provided and will provide to Adrian Bank in connection with this agreement. You agree to provide all documentation and information that Adrian Bank may reasonably request in conjunction with this agreement. You are liable for all transactions that you make or authorize, even if the person you authorize exceeds the authority you intended them to have. If you have given someone your Online Banking ID and Password, or other means of access and want to terminate that person’s authority, you must change your Online Banking ID and Password or other means of access or take additional steps to prevent further access by such person. Each of the Adrian Bank customers executing this agreement jointly or severally agrees to hold Adrian Bank harmless from, and indemnify it for, all liability made or entered against Adrian Bank as a consequence of any transactions undertaken pursuant to the terms of this agreement.
UNAUTHORIZED TRANSACTIONS OR LOSS OR THEFT
OF YOUR PERSONAL ONLINE BANKING ID NUMBER OR Password
If you believe your Online Banking ID or Password, or other means of access has been lost or stolen or that someone has used them without your authorization, call us immediately at (800)982-1334, (816) 297-2194, or (816) 293-5837 during normal business hours or by faxing (816) 297-2176 or writing to:
Attn: Online Banking Department
P.O. Box 127
Adrian, MO 64720
CANCELLATION OF THIS AGREEMENT
Adrian Bank has the right to cancel its obligation under the terms of this agreement at any time and for any reason. The reason for cancellation may or may not be a violation of the terms of this agreement by the customer. The customer may also cancel this agreement at any time. In such event, however, Adrian Bank shall have a right to request, and the customer shall have an obligation to provide, all information and cooperation necessary for the proper completion of all transactions undertaken prior to the termination of this agreement.