Commercial Online Banking Agreement
Consumer Online Banking Agreement
PLEASE READ THIS AGREEMENT CAREFULLY AND KEEP A COPY FOR YOUR RECORDS.
- Introduction. This Online Banking Agreement sets for the terms and conditions of the Online Banking Service offered by Generations Bank. In this Agreement, the term "you" refers to each owner and authorized signer on the accounts that are accessed through the Service. Each time you access an account through the Service, you confirm your agreement to these terms. Please see Section 25 regarding electronic communications involving the Service and this Agreement. The terms and conditions in this Agreement also govern the Bill Payment Service ("Bill Payment") that is available upon Bank approval.
- Services. You can perform the following transactions, depending on the services you request and the accounts tied to the Service: View account balance information and transaction history, Transfer money between your eligible accounts, Arrange for automatic monthly transfers from one Bank account to another, Make payments to others from your eligible accounts, Submit stop payment requests, and Communicate with us by electronic mail ("e‐mail"). We may make other Services available to you from time to time. Unless we state otherwise, they will be subject to the terms of this Agreement.
- Computer Requirements. You are responsible for the selection, installation, maintenance, and operation of your computer and software. We assume no responsibility for any error or malfunction by your computer or software, or for any computer virus or similar problems you may experience with the Internet or your Internet service provider. Please see Section 25 regarding Service computer requirements. You must use equipment and software that are compatible with our system, which may change from time to time. Any material changes to our equipment or software requirements shall be accordingly communicated with you.
- Online Banking Accounts. In order to use the Service, you must have a checking account with us, access to the Internet, and an e‐mail address. The checking account will be your primary Online Banking account. If you have more than one checking account with us, you must designate one of them as your primary account. If you do not do so, we may select the primary account for you. We may terminate the Service if your primary account closes for any reason. Service fees will be charged to your primary account. When you enroll in the Service, you will choose the accounts, on which you are a "Signer" or "Owner" (we will validate this information), that you want given online access to.(Refer to Section 23 below for the terms and conditions that affect your accounts.) Any signer on any account on which you are an owner will have the ability to conduct online transactions involving those accounts if they have online access also. Even though an account may require more than one signature for the withdrawal of funds (e.g., by check), we may act on the oral, written, or electronic instruction of any one of the authorized signers for Service transactions. You must notify us if you choose not to have access to certain accounts. At our discretion, we may refuse to allow certain accounts to be linked to the Service.
- Accessing the Service. We will provide you a login ID and a temporary password to access our services. Each individual, who has access to the Service, must choose a new password the first time you access the service. You should memorize your password. We may also require you to change your password at any time for security purposes. Your password must be a minimum of eight characters, of which one must be numeric. After three failed attempts into the online banking, you password will no longer gain access to the services and you must contact the bank to have it reset. We may act on any Service instruction that is accompanied by your Login ID and password. You agree not to disclose you Login ID or password to anyone. You are responsible for keeping your login ID and password confidential. Never place them on or near your computer. If you forget your password, contact us to have a new one issued to you.
- Hours of Operation. You can access your accounts through the Service seven days a week, 24 hours a day. There may be times, however, when all or part of the Service is unavailable due to system maintenance. We will post notice of any known extended periods of system unavailability on the website as soon as reasonably practicable. We are not responsible for any loss or damage that may result from the unavailability of the Service.
- Account Balance and Transaction Information. You can use the Service to obtain account balance and transaction information. Please note that the information provided may not include recent transactions and may include funds that are not available for immediate withdrawal. Balance and transaction information may not reflect all of the current day's posting of deposits, withdrawals, and checks written by you and presented to the Bank for payment, and other miscellaneous credits and charges. You should communicate with other users on your account regarding transfers and bill payments in order to avoid inadvertent overdrafts.
- Transfers. You may transfer funds between your linked savings and checking accounts. Transfers cannot be made from time deposit accounts. Transfers initiated on or before 3:00 p.m. (Central Time) on a banking day will be posted to your account on the same day. All transfers completed after that hour or on a Saturday, Sunday, or holiday may be posted on the next business day.
- Electronic Mail. You can use the Service to send us electronic mail ("e‐mail"). Since e‐mail can be subject to delays and may not be reviewed by us until the next banking day, you should not rely on it if you need to communicate with us immediately (e.g., to report an unauthorized transaction). If you need to contact us immediately, call us at the telephone number listed in Section 17. We will have a reasonable time to act upon any e‐mail request, and reserve the right to reject any instruction or request received by e‐mail (e.g., a request to wire funds). Please do not include any sensitive information about yourself or your accounts in an email, as we cannot guarantee its privacy over the Internet. You agree that we may read and record any e‐mail communications between you and our employees through the Service.
- Stop Payment Service. You may stop payment on a check you have written (non‐electronically and not a bill payer draft) by following the procedures established for that Service. You must provide us with timely, complete, and accurate information regarding: the number of the account in question; the date of the item; the item number; the payee information and the EXACT amount of the item (dollars and cents). If any information is incomplete or incorrect, we will not be responsible for failing to stop payment on the item. To stop payment on an ACH, preauthorized payment, or electronic payment, you MUST contact the bank! DO NOT attempt to put a stop payment from online banking on these type transactions. We will not be responsible for failing to stop payment on these transactions. You are responsible to review past statements and current activity on your account since the date of your last statement to confirm that the item upon which you request a Stop Payment has not been paid. We will not be responsible to ascertain whether the check you wish stopped has previously been paid. Using this Service to submit a Stop Payment request will directly update your account record with this order without review by us, including the assessment of the stop payment fee. From time to time, the online system may be inoperable. If that occurs, your request can be communicated to us by telephone. We may require written confirmation of your order within 14 days of our receipt of your telephone request.
- Bill Payment Service. If you are enrolled (or choose to enroll) for bill payment, this service allows you to pay third parties and to schedule future bill payments. Bill payments can only be made from checking accounts. A. Eligible Payees. You may only designate payees with addresses in the United States. We reserve the right to determine who may be a payee. You agree not to use the bill payment service to purchase securities, make tax payments, or to comply with any court order. B. Initiating Payments. To initiate a payment, you must identify the person or business you are paying, the payment date, the amount to be paid, and (if you have one) your account number with the payee. We may ask for additional information when you establish a payee for the first time on our system. The payee address may be modified by us to accommodate special processing requirements. We will send you payment to the payee either by transferring the funds electronically or by mailing a check to the payee. C. Automatic Recurring Payments. You may use the bill payment function to arrange for the automatic payment of bills that have a fixed frequency and amount. Once your automatic bill payment arrangements are established, payments will be made without the need for further requests by you. If the payment date for an automatic payment falls on a weekend of holiday, the payment may be initiated on the following banking day. D. Errors in Your Instructions. You are solely responsible for providing us with complete and accurate payment information. We have no obligation to confirm such information or to identify or reject errors or duplicate payment instructions. If you give us a payment instruction that is incorrect in any way, you agree that we may charge your account for the payment, whether or not the error could have been detected by us. We are not obligated to detect errors in your transfer or payment instructions or to bring apparent errors to your attention. E. Processing Payments. We will withdraw from your designated account on the day you instruct us to make the payment. We will initiate the sending of your payment to the payee by check, through a third party, electronically through the automated clearing house, or otherwise on our next banking day. (Refer to Section 11.f for Scheduling Payments). We do not have to make a payment if you do not have sufficient funds or credit available for the payment on the Payment Date. We may charge a fee for each payment request presented against insufficient available funds, whether or not we honor the request. Although you can enter a payment request 24 hours a day, 7 days a week, transaction requests that we receive after our processing cutoff hour of 3:00 p.m. (Pacific Time) on a banking day or at any time on a nonbanking day may be deemed received as of the next banking day. Your designated Payment Date must be on a banking day. If you direct us to make a payment on a day other than a banking day, we may initiate the payment on the following bank day. F. Scheduling Payments. You should schedule payments sufficiently in advance to ensure that they are received and credited by your payee by the payment due date. WE RECOMMEND THAT YOU SCHEDULE THE PAYMENT DATE AT LEAST 7 TO 10 FULL BUSINESS DAYS PRIOR TO THE DATE THE PAYMENT IS DUE AT YOUR PAYEE WITHOUT REGARD TO ANY GRACE PERIOD. Although electronic payments may be received by payees within two business days, it could take longer for payees to receive payments sent by mail. (Note: Checks are generally placed in the U.S. mail two banking days after the Payment Date). It is your responsibility to request that payments be made in such a manner that they will be paid on time. You are solely responsible for any damages, such as late fees and finance charges that may be imposed as a result of your failure to identify the correct Payment Date and transmit your payment instruction to us in a timely manner. To insure that critical or time‐sensitive payments are received on time, you should consider establishing Payment Dates (especially for payees that will receive payment by mail during peak holiday periods) will in advance of the payment due date. We will not be responsible for any charges imposed or any other action taken by a payee resulting from a payment that you have not scheduled properly. In addition, we will not be liable if any third party through which any bill payment is made (e.g., the postal system) fails to properly transmit the payment to the intended payee. G. Changing, Canceling, and Stopping Payments. You may cancel or change any scheduled payment by amending the instruction through the Service by no later than 3:00 p.m. (Central Time) on the scheduled Payment Date. You may be able to stop the payment of an issued paper draft by contacting us in person or by telephone before the check is paid and providing us with the name of the payee, the payee‐assigned account number, the amount and scheduled date of the payment, and the Confirmation number from the bill payment screen. You will be charged the current Stop Payment Order Fee. You may NOT place a stop payment order on an electronic payment. H. Stopping Preauthorized Payments. If you have told us in advance to make regular payments out of you account, you can stop any of these payments by writing to us at Generations Bank, Online Banking, PO Box 10, Camden, AR 71711 or by calling us at 844‐661‐0056. We must receive your request at least three business days before the payment is scheduled to be made. If you fail to give us your request at least three business days prior to a transfer, we may attempt, at our sole discretion, to stop the payment. We assume no responsibility for our failure or refusal to do so, however, even if we accept the request for processing. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call; otherwise, the oral request may be disregarded 14 days after it had been made. Your request should specify the exact amount (dollars and cents) of the payment you want to stop, the date of the payment, the Confirmation number from the bill payment screen, and the identity of the payee. You should notify the designated payee in writing that you are stopping payment, as we will not do so. I. Rejecting Payment Requests. We may reject any payment request with or without cause or prior notice. If we do, we will notify you promptly of the rejection orally, electronically, or in writing.
- Banking Days. Our banking days are Monday through Friday, excluding holidays.
- Documentation. You will get a monthly deposit account statement unless there are no electronic fund transfers in a particular month. In any case, you will get a statement at least quarterly.
- Service Fee. General access to the Services will be provided to you free of charge. However, you may incur fees if you use or obtain some of the products or services available at First Bank. To learn more about such fees, please refer to the specific terms and conditions applicable to each product or service or call a customer service representative at the bank.
- Limitations. We reserve the right to limit the frequency and dollar amount of transfers and payments for security reasons. Payments and transfers from savings accounts and money market savings accounts are limited by law and your deposit agreement with us. You may only make up to six withdrawals and/or transfers to third parties each month by preauthorized or automatic transfer, draft, or telephone. Only three of these six transactions may be made by check, draft, debit card, or similar order to third parties.
- Customer Service. You may contact us at 844‐661‐0056 or your local branch, Monday through Friday, from 8:00 a.m. to 4:00 p.m., excluding holidays. Our hours of operation are subject to change without prior notice.
- How to Notify Us of a Problem. If you have a question about a Service transaction, or if someone has transferred or may transfer money from your account without your permission, write to us at Generations Bank, Online Banking, PO Box 10, Camden, AR 71711, or call us at 844‐661‐0056.
- Your Responsibility. Tell us AT ONCE if you believe your login ID or password has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within two business days, you can lose no more than $50 if someone used your login ID or password without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your login ID or password, and we can prove that we could have stopped someone from using your login ID or password without your permission if you have told us, you could lose as much as $500. Also, if your statement shows payments or transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days 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 telling us, we will extend the time periods.
- Our Responsibility. If we do not complete a transfer or initiate a payment from your account on the payment date 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 example, if: (a) we process your payment in a timely manner, but the payee rejects your payment or fails to process it in a timely manner; (b) your account does not contain sufficient available funds to make the transfer or payment, or the transfer or payment would exceed the credit limit on any overdraft line you have with us; (c) the money in your account is subject to an uncollected funds hold, legal process or any other encumbrance or claim restricting the transfer or payment; (d) the payee or transaction information you supply to us is incorrect, incomplete or untimely; (e) the system was not working properly and you knew about the problem when you requested the transfer or payment; (f) circumstances beyond our control (such as fire, flood, viruses, computer breakdowns, or telecommunication problems) prevent the transaction, despite reasonable precautions that we have taken; (g) you do not authorize a bill payment early enough for your payment to be made and properly credited by the payee by the time it is due; (h) you fail to follow our on‐screen instructions properly; or (i) a transfer or payment could not be completed due to the system's unavailability. There may be other exceptions stated in our deposit agreement with you.
- In Case of Errors or Questions about Your Transfers or Bill Payments. Telephone us at the number, or write to us as the address, set forth in Section 17 as soon as you can if you think your statement is wrong or if you need more information about a transaction listed on the statement. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. You must: (a) tell us your name and account number; (b) describe the error or why you need more information; and (c) tell us the dollar amount of the suspected error. For bill payments, also tell us the payee name, Payment Date, Confirmation number, and payee account number of the suspected error. For bill payments, also tell us the payee name, Payment Date, Confirmation number, and payee account number. This information appears on the bill payment screen. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time that it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Our obligation to act within the 10 and 45 day periods mentioned above is extended to 20 business days and 90 calendar days, respectively, if the notice of error involves an electronic fund transfer that occurred within 30 days after the first deposit to the account was made. We will tell you the results 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.
- Business and Other Non‐personal Accounts. The Bank's obligations set forth in Sections 19 and 20, and the limitations on your liability set forth in Section 18, do not apply in the case of business or other non‐personal accounts. Under no circumstances will we be liable for any special or consequential damages involving such accounts. The owners of non‐personal accounts must notify us immediately if they discover any unauthorized transactions or errors, and must send us a written notice of the problem within a reasonable time (not to exceed 14 days from the date of discovery or their receipt of the first statement or notice reflecting the problem, whichever occurs first). We may process any Online instruction we believe is given by any of you if the instruction is accompanied by your login ID and password, and you will be obligated for the transfer or payment, even if the instruction is not transmitted or authorized by you. You are responsible for controlling access to the Service and assuming all risks for any limitations placed by you on an authorized person. The fact that we are, or may be aware of, or could have discovered, any limitation on access to the Service does not make us obligated to enforce or attempt to enforce any limitation. You understand that each authorized person may utilize the Service (including inquiries, transfers, and account verification) without regard to any restrictions otherwise applicable to an account.
- Release of Account Information. We may release information about your account and the transactions you perform to third parties: where it is necessary or helpful in verifying or completing a transaction; to verify the existence, history, and condition of your account for credit reporting agencies, when you give us your consent; as permitted or required by law; to local, state, and federal authorities if we believe a crime may have been committed involving your account; when an inquiry is made regarding the available of funds to cover a check you have written; and, if you are a business, in response to trade inquiries.
- Other Terms. This Agreement supplements the terms of your account agreement with us. Please see that agreement for other terms relating to the Service (for example, waivers, governing law, and overdrafts). This Agreement and your account agreement contain all of the terms of our agreement with you with respect to this Service. The terms of this Agreement will supersede any conflicting terms in your agreement with respect to the Service. We may, in our sole discretion, refuse to accept or otherwise execute any request for Service, whether for cause or without cause, and shall have no liability for such refusal. Should any request not be performed by us in accordance with instructions received from you, we shall notify you on or before the Bank's next business day or otherwise by more expeditious means (including telephone notice).
- Change in Terms. We may amend (add to, delete from, or change) the terms of this Agreement at any time by sending a notice to any of you at the address or e‐mail address shown in our records, by posting the notice or an amended Agreement on our web site, or by delivering it to you. You may choose not to accept the change by closing your account(s) or terminating this Agreement and your use of the Service.
- Electronic Communications. You agree that this Agreement and any notice or other type of communication that is provided to you in connection with the Service, including amendments, statements, and account information, may be sent to you electronically by posting the communication at our web site, or by sending it to any of you by e‐mail. You may obtain a free copy of this Agreement, any amendments to it, and other communications about the Service in paper form by writing to us at Generations Bank, Online Banking, PO Box 10, Camden, AR 71711, or by calling us at 844‐661‐0056. You can withdraw your consent to such electronic notices by writing to us at the same address, and advising us that you wish to have future notices sent to you in paper form. We may elect to terminate this Agreement and the Service if you choose to receive notices in paper form. You agree to provide us with your current e‐mail address for notices. If your e‐mail address changes, you must send us a notice of the new address in writing at the address listed above. You will need the following hardware and software in order to access our web site, to receive notices from us, and to retain an electronic record of this Agreement and future communications: You will need a computer, an Internet Service Provider (ISP), and a Browser Software. We recommend Internet Explorer 5.5 or higher.
- Termination. We may terminate or suspend your access to all or part of the Service at any time, with or without cause. We may automatically terminate your use of the Service if you do not use it for an extended period (generally 180 days). If you decide to cancel the Service, please write to us at Generations Bank, Online Banking, PO Box 10, Camden, AR 71711 or call 844‐661‐0056. Please let us know at that time if you have any outstanding scheduled or recurring bill payments. We may delete all scheduled and recurring bill payment orders once we have been notified that you wish to terminate the Service.
Commercial Online Banking Agreement
PLEASE READ THIS AGREEMENT CAREFULLY AND KEEP A COPY FOR YOUR RECORDS.
This Agreement sets forth the terms of the Online Business services (“Services”) that Generations Bank (“we” and “Bank”) generally makes available to its customers (“you”). Additionally, we will make available to you the services identified in the Online Business Enrollment Form and/or Online Business Modification Form. By applying for any Services, you agree to be bound by these terms. Your use of any Service will be additional evidence of your agreement to these terms.
- Services. Services in Online Banking allow you to obtain information about your accounts and transactions, make transfers between your accounts with us, and communicate with us electronically. We will notify you when the Services you request, and as granted privilege by the bank, will become available to you. If you request additional Services in the future, they will be governed by this Agreement, and the Online Business Enrollment Form and/or the Online Business Modification Form, and any addendum hereto, unless we advise you otherwise. You may use the Services only for business purposes; you may not use them for personal, family, or household purposes.
- Equipment. You are responsible for providing and maintaining any equipment that is necessary for the Services, such as telephones, terminals, modems, and computers. You agree to use equipment that is compatible with our programs, systems, and equipment, which we may change from time to time. We assume no responsibility for the defects or incompatibility of any computers or software that you use in connection with the Services, even if we have previously approved their use. WE MAKE NO WARRANTY, EXPRESS OR IMPLIED, IN LAW OR IN FACT, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR OF MERCHANT ABILITY, WITH RESPECT TO THE SERVICES, OR ANY COMPUTER PROGRAMS, EQUIPMENT OR SOFTWARE MADE AVAILABLE TO YOU.
- Accounts. Your enrollment form and/or modification form lists the Bank accounts that you wish to access with the Services. If it includes the accounts of your parent company, subsidiaries or affiliates, you warrant that they have authorized you to access their accounts through the Services in the same manner as you own accounts. You agree to provide us with their written authorization, in form, and substance acceptable to us, evidencing that authority, and to notify us immediately in writing of any change to that authorization. You will need to designate certain accounts for specific purpose in connection with some of the Services. If you fail to do so, we may designate the accounts.
- Passwords. You may appoint an individual (a “Senior Administrator”) with the authority to determine who will be authorized to use the Services on your behalf. Your Senior Administrator can establish limits on each user’s authority to access information and conduct transactions. You assume sole responsibility for the actions of your Senior Administrator, the authority he or she gives others to act on your behalf, and the actions of the persons designated by the Senior Administrator to use the Services. You or your Senior Administrator will need to designate which accounts will be utilized for Service payments and transfers. If your Senior Administrator designates an account that requires more than one signature for the withdrawal or transfer of funds, you agree that we may act upon any Service instruction that is accompanied by the password designated by you or your Senior Administrator for that account and the Service in question. Note: This may mean that we will act upon the instruction of only ONE person (e.g., to wire funds), even though the signature card for the account in question requires two or more signatures on checks. As long as an instruction is accompanied by the designated password, the transaction will be deemed authorized by you.
- Fees. General access to the website will be provided to you free of charge. However, you may incur fees if you use of obtain some of the products or services available through the website. You are responsible for any fees that are a normal charge(s) to the type of account(s) that you have with the bank. You agree to pay us the fees we establish for each of the Services which we may charge directly to your accounts with us. To learn about such fees, please refer to the specific terms and conditions applicable to each product or service. We may amend our Service pricing from time to time. You would be notified of any changes. Special or additional Services performed at your request will be subject to such additional terms and fees as you and the bank may agree. You also are responsible for the costs of any communication lines and any data processing/internet processor charges payable to third parties.
- Banking Days. Our banking days are Monday through Friday, excluding holidays.
- Cutoff Hours. The cutoff hour for Services is 3:00 p.m. on banking days. Instructions received after the cutoff hour or on a non-banking day may be deemed received as of the next banking day. Services may occasionally be unavailable due to needed maintenance or system/network interruptions.
- Access to Account Data. You can obtain balance and other account information through the Service. This Service provides near real-time balance and transaction information; however; since we do not process certain information and transactions until after the close of our business day, some transactions may not be reflected in the system until the next banking day. Posted items may be reversed due to insufficient funds, stop payment orders, legal process, and other reasons. Certain balances also may not be subject to immediate withdrawal. We assume no responsibility for any loss arising from incomplete information or for any temporary interruption in our information system. If you are unable to access our system for any reason, you can contact your branch of account for loan and deposit information.
- Information Processing and Reporting. Some of our Services may require us to receive, process, and report information involving your accounts and transactions. We will not be responsible for determining the accuracy, timelines, or completeness of any information that you or others provide to us. We will not have a duty to interpret the content of any data transmitted to us, except to the limited extent set forth in this Agreement. Unless otherwise agreed in writing, we will not be required (by means of any security procedure or otherwise) to detect errors in the transmission or content of any information we receive from you or third parties. You acknowledge that it is not possible for the Services to be totally free from operator, programming, or equipment error, and that errors in processing and compiling data may occasionally occur (e.g., due to the failure of others to provide accurate information or telecommunication failures). As such, you agree to review and verify all results and to maintain adequate controls for insuring both the accuracy of data transmissions and the detection of errors. Unless otherwise required by law, our sole responsibility for any reporting errors caused by us will be to reprocess the information for the period in question and to provide corrected reports at our own expense. You agree to maintain adequate backup files of the data you submit for a reasonable period of time in order to facilitate any needed reconstruction of your transactions (e.g., in the event of a telecommunication failure). If we are unable to provide a Service for any reason, we will promptly inform you of the problem and will take reasonable steps to resume processing.
- Reliance on Third Parties. Our ability to provide certain Services is dependent upon our ability to obtain or provide access to third party networks. In the event any third party network is unavailable or we determine, in our discretion, that we cannot continue providing any third party network access, we may discontinue the related Service or may provide the Service through an alternate third party network. In such situations, we will have no liability for the unavailability of access. We will not be responsible for any services you receive from third party vendors.
- User Guides and Security. We will provide your designated Senior Administrator with a login ID and temporary password to access our Services. We may also provide you with operating procedures and user guides (“User Guides”) in connection with certain Services. You agree to: (a) comply with the User Guides and procedures that we provide to you; (b) take reasonable steps to safeguard the confidentiality and security of your passwords; (c) maintain the confidentiality of your passwords; (d) closely and regularly monitor the activities of employees who access the Services; and (e) notify us immediately if you have any reason to believe the security or confidentiality required by this provision has been or may be breached. Our security procedures are not designed for the detection of errors (e.g., duplicate payments or errors in your fund transfer instructions). We will not be obligated to detect errors by you or others, even if we take certain actions from time to time to do so. You agree to change the temporary password that we assign to you the first time you use the Services and delete the user access of any individual who is no longer employed or authorized by you to use the Services. We require that you change your passwords every sixty days, but we may require you to change your password at any time for security purposes. Your password must be a minimum of six characters, of which one must be numeric. After three failed attempts, you password will no longer gain access to the services and you must contact the bank to have it reset. The system will recognize the last six passwords you have utilized and will not accept them when required to change your password. We may deny access to the Services without prior notice if we are unable to confirm (to our satisfaction) any person’s authority to access the Services or if we believe such action is necessary for security reasons. Each time you perform a file or funds transfer with the Service, you warrant that our password and security procedures are commercially reasonable for the transactions, based on the circumstances involved (e.g., the size, type, and frequency of your transfers, as well as your internal controls). Some of our Services allow you or your Senior Administrator to set transaction limitations and establish internal controls. Your failure to set such limitations and implement such controls increases your exposure to, and responsibility for, unauthorized transactions. You agree to be bound by any transfer or payment order we receive through the Services, even if the order is not authorized by you, if it is submitted with an approved password or is otherwise processed by us in accordance with the security procedures described in this Agreement.
- ACH. If you are approved for these Services, you may transfer funds and make payments to others from one or more of your designated checking accounts through the Automated Clearing House (“ACH”) or by book transfer. If you link more than one checking account to the Service, you must specify which account you wish us to use to make payments. A. Charging Your Account. When you transmit a transfer or payment request (“Order”), you authorize us to charge your account for the amount indicated. If your account does not have enough available funds to cover a payment, we may reject the transaction. We may charge a fee for each payment request presented against insufficient available funds, whether or not we honor the request. You assume the sole responsibility for providing us with accurate payment information in the form and format that we require. We are not responsible for confirming such information, or for monitoring or refusing to process duplicate Orders. If you give us an Order that is incorrect in any way, you agree that we may charge your account for the payment whether or not the error could have been detected by us. We are not obligated to detect errors in your transfer or payment instructions. B. ACH Transaction Rules. When engaging in any transactions through the ACH, you agree to comply with the Operating Rules of the National Automated Clearing House Association (“NACHA”) (collectively, the “Rules”), as amended from time to time. You further agree that Orders must comply with all laws of the United States, including sanction laws administered by the Office of Foreign Assets Control C. File or Fund Transfer Instructions (External/Wire Transfers). Your orders must comply with the requirements set forth in your User Guide, and any applicable security procedures. You must accurately describe transaction beneficiaries, intermediary financial institutions, and the beneficiary’s financial institution. If you describe any beneficiary or institution inconsistently by name and number, we and other institutions may process the Order solely on the basis of the number, even if the number identifies a person or entity different from the named beneficiary or institution. An order is deemed to be accepted by us when we receive it, as evidenced by the confirmation information provided. Unless you promptly notify us of a problem with a transfer or confirmation, you will be deemed to have approved the accuracy and completeness of the information contained in the confirmation. Orders received before the cutoff hour should be transmitted by Bank to take effect on the next banking day; however, Bank does not guarantee payment until the second banking day. For this reason we recommend you submit payment Orders at least two banking days before the date due. You will not allow others to initiate Orders on your behalf without our prior written consent. You will be solely responsible for the acts and omissions of such agents. You agree to indemnify, defend and hold us harmless from any actions, claims, proceedings, damages, losses and costs which you or we incur as a result of their actions or omissions. D. Customer Authorization and Record Retention. You may initiate ACH debit Orders only with the prior written authorization of the persons whose accounts are affected by such Orders. You agree to maintain a copy of each authorization for a period of two years following its termination, and to provide us with a copy upon request. You will not submit ACH debit Orders to collect funds for checks or other paper items which have been dishonored and returned for any reason, even if such represented check Orders are permitted under the Rules. E. Internal Transfers. Transfers between your deposit accounts with us are subject to the terms of your deposit agreement. Although you may instruct our electronic system to make transfers between your accounts at any time on any day, transfers occurring after our cutoff hour or on non-banking days may not be posted until the next banking day. F. Transaction Limits and Safeguards. You agree not to exceed the transaction limits we establish from time to time for your account. You agree that you will not allow anyone to initiate Orders without proper supervision and adequate safeguards, and that you will review pending Orders prior to their submission to ensure that they are complete, accurate, and properly authorized. G. Cancellation and Amendment of Orders. You may not cancel or amend an Order after we receive it. If we attempt to reverse an Order at your request, we assume no liability for any interest or losses that result if the reversal is not effected. You agree to indemnify, defend, hold harmless and reimburse us for all expenses, losses, claims, actions, proceedings, and damages we incur in effecting or attempting to effect any reversal. You are solely responsible for providing notice to receivers that a reversal is being transmitted and the reason for the reversal no later than the settlement date of the reversing entry. H. Refusal of Orders. We may refuse any Order with or without cause or prior notice. You agree to maintain sufficient collected and available funds in your account for a period of two banking days prior to the settlement date to cover the amount of your Orders, as well as returned or reversed debit Orders, adjustment Orders, and other amounts owed to us under this Service. We may refuse an Order if there are not sufficient collected and available funds in your account on the date we initiate the transaction (up to two banking days before an ACH settlement date) or on the settlement date. We will notify you of such refusal electronically in writing, by telephone, or otherwise no later than two banking days after the date the Order was to be effected. We are not required to pay you interest on a rejected Order for the period from refusal of the Order to your receipt of the notice of refusal. If an Order is returned by the ACH, we may submit the Order back to you, adjust your account, and await further instructions. We may remake such Order, however, if the return is due to our error and we have sufficient data to remake the Order. You agree to retain and provide us with the necessary information to remake such Orders until midnight of the third banking day following the settlement date. I. Notice of Returned Orders. We will notify you electronically, in writing, by telephone, or otherwise within one banking of any Order which is rejected or returned for any reason. We will not be obligated to credit your account with any interest, unless the return is caused by our failure to properly execute the Order. J. Notices and Statements. Information on transfers to or from your accounts will be reflected on your periodic statements and will be available to you online. We may not provide you with any other notice of the receipt, transmittal, or debiting of Orders. K. Provisional Credit. Credit for an ACH transfer is provisional until the receiving financial institution obtains final settlement. If final settlement doesn’t occur, the originator of the transfer is not deemed to have made payment to the beneficiary, and the beneficiary’s bank is entitled to a refund of the provisional credit. L. Unauthorized Order. We may process any Order (including an amendment or cancellation Order) we believe is transmitted or authorized by you. Such Orders will be deemed effective as if made by you, and you will be obligated to pay us in the amount of such Orders, even though they are not transmitted or authorized by you. M. Telephone Confirmation. We may elect to verify the authenticity or content of any Order by placing a call to any authorized signer on your account or any other person designated by you for that purpose. If we are unable to verify an Order to our satisfaction, we may reject the Order.
- Bill Payment Service. This Service allows you to make payments to others. A. Bill Payment. You may make payments to others from one or more of your designated checking accounts with us. If you link more than one checking account to the Service, you must specify which account you wish to use in making payments. B. Eligible Payees. You may only designate payees with United States addresses. We reserve the right to determine who may be a payee. You may not use the Bill Payment Service to pay taxes, purchase securities or comply with any court order. C. Initiating Payments. The first time you request a payment to be made to a payee, you must specify the person or business you are paying, the payee’s address, and (if you have one) your account number with the payee. To initiate a payment, you must specify the payment date, the amount to be paid, and the number of the account from which the payment is to be made. We may notify the payee address to accommodate special processing requirements. We will send your payment to the payee either by transferring the funds electronically or by mailing a check to the payee. D. Automatic Recurring Payments. You may use the bill payment function to arrange for the automatic payment of bills that have a fixed frequency and amount. Once your automatic bill payment arrangements are established, they will be made without the need for further requests by you. If the payment due date for an automatic payment falls on a weekend or holiday, the payment may be made the following banking day. E. Errors in Your Instructions. You are solely responsible for providing us with complete and accurate payment information. We have no obligation to confirm such information, or for identifying or rejecting errors or duplicate payment instructions. If you give us a payment instruction that is incorrect in any way, you agree that we may charge your account for the payment, whether or not the error could have been detected by us. We are not obligated to detect errors in your transfer or payment instructions or to bring apparent errors to your attention. F. Processing Payments. We will withdraw funds from your designated account on the day you instruct us to make the payment (the “Payment Date”) (e.g., a Monday). If your payment is made by ACH, we will initiate an entry through the automated clearing house on the next banking day (i.e., Tuesday). If payment is by check, our vendor will mail a check to the payee on the following banking day (i.e., Wednesday). We do not have to make a payment if you do not have sufficient funds or credit available for the payment on the Payment Date. Although you can enter a payment request 24 hours a day, 7 days a week, transaction requests that we receive after our processing cutoff hour of 3:00 p.m. on a banking day or at any time on a non-banking day may be deemed received as of the next business day. If you direct us to make a payment on a day other than a banking day, we may initiate payment on the following banking day. G. Scheduling Payments. You should schedule payments sufficiently in advance to ensure that they are received and credited by your payee by the payment due date. We recommend that you schedule the payment date at least five full banking days prior to the date the payment is due at your payee without regard to any grace period. Although we may be able to pay certain payees electronically (via ACH) within two banking days of the Payment Date, it could take longer for payments sent by mail. Allow seven to ten to process payments sent by mail. It is your responsibility to request that payments be made in such a manner that they will be paid on time. You are solely responsible for any damages, such as late fees, that may be impose as a result of your failure to identify the correct Payment Date and transmit your payment instruction to us in a timely manner. To insure that critical or time-sensitive payments are received on time, you should consider establishing payment dates (especially for payees that will receive payment by mail during peak holiday periods) well in advance of the payment due date. We will not be responsible for any charges imposed or any other action taken by a payee resulting from a payment that you have not scheduled properly. In addition, we will not be liable if any third party through which any bill payment is made (e.g., the postal system) fails to properly transmit the payment to the intended payee. H. Changing or Canceling Payments. You may cancel or change any scheduled payment by amending the instruction through the Service by no later than 3:00 p.m. (Central Time) on the scheduled Payment Date. You may be able to stop the payment of an issued paper draft by contacting us in person or by telephone before the check is paid and providing us with the name of the payee, the payee-assigned account number, the amount and scheduled date of the payment, and the Confirmation number from the bill payment posting screen. You will be charged the current Stop Payment Order fee. You may NOT place a stop payment order on an electronic payment. I. Rejecting Payment Requests. We may reject any payment request with or without cause or prior notice. If we do, we will notify you promptly of the rejection orally, electronically or in writing.
- Stop Payment Request. You may stop payment on a check you have written (non-electronically and not bill payer drafts) by following the procedures established for that Service. You must provide us with timely, complete and accurate information regarding: the number of the account in question; the date of the item; the item number; the payee information and the EXACT amount of the item (dollars and cents). If any information is incomplete or incorrect, we will not be responsible for failing to stop payment on the item. You are responsible to review past statements and current activity on your account since the date of your last statement to confirm that the item upon which you request s Stop Payment has not been paid. We will not be responsible to ascertain whether the check you wish stopped has previously been paid. Using this Service to submit a Stop Payment request will directly update your account record with this order without review by us, including the assessment of the Stop Payment fee. From time to time, the online system may be inoperable. If that occurs, your request can be communicated to us by telephone at (844)661-0056 or by calling your local branch. We may require written confirmation of your order within 14 days of our receipt of your telephone request.
- Electronic Mail/Internet. If you send us electronic mail (“e-mail”), we may not receive or review it immediately. We will have a reasonable time to act upon any e-mail request or notice, and reserve the right to reject any transaction or request received by e-mail. You acknowledge that, even though e-mail may be encrypted, we cannot ensure that it will not be intercepted or affected by the actions or omissions of others, such as third party networks or persons with access to the Internet. Our service providers and we assume no responsibility for viruses created by third parties, or for any third party’s unauthorized access to, or use, to your computer system. Your use of the Internet will be entirely at your own risk. We make no representation, warranty, or endorsement with respect to: (a) information placed on the Internet by third parties; (b) the security or continued availability of the Internet or of any Internet web site, including without limitation our web site; or (c) the services, products or information made available over the Internet by others whose sites may be accessed, directly or indirectly, as a result of our Services. You agree that: (a) your use of the Internet will be at your own risk; (b) Internet services are provided to you on an “as is” basis, without warranties of any kind; (c) we, our affiliates, Internet service providers, and licensors will not be liable for any errors, defects in, or the untimeliness or lack of authenticity of, any information provided over the Internet; (d) you will comply with all laws applicable to your Internet activities; (e) you will not transmit any information which is defamatory, abusive, or which may give rise to civil liability; (f) we may monitor your e-mail and Internet communications with our employees; and (g) our Internet Service will be subject to the additional qualifications and operating rules, if any, set forth on our web site.
- Limitation of Liability. Except as otherwise stated in this Agreement, we will be liable to you only for damages arising directly from our intentional misconduct or gross negligence in the performance of the Services. We will not be responsible for any loss, delay, cost, or liability which arises, directly or indirectly, in whole or in part, from: (a) your actions or omissions, or those of third parties which are not within our immediate and reasonable control; (b) your negligence or breach of any agreement with us; (c) any ambiguity, inaccuracy or omission in any instruction or information provided to us; (d) any error, failure or delay in the transmission or delivery of data, records or items due to a breakdown in any computer or communications facility; (e) accidents, strikes, labor disputes, civil unrest, fire, flood, water damage (e.g., from fire suppression systems), or acts of God; (f) causes beyond our reasonable control; (g) the application of any government or funds-transfer system rule, guideline, policy or regulation; (h) the lack of available funds in your Account to complete a transaction; (i) our inability to confirm to our satisfaction the authority of any person to act on your behalf; or (j) your failure to follow any applicable software manufacturer’s recommendations or our Service instructions. There may be other exceptions to our liability, as stated in your deposit or other Service agreements with us. Any claim, action or proceeding by you to enforce the terms of this agreement or to recover for any Service related loss must be commenced within one year from the date that the event giving rise to the claim, action or proceeding first occurs. You agree to cooperate with us in any loss recovery efforts we undertake to reduce any loss or liability that arises in connection with your use of the Services. You acknowledge that our Service fees have been established in contemplation of: (a) these limitations on our liability; (b) your agreement to review statements, confirmations, and notices promptly and to notify us immediately of any discrepancies or problems; and (c) your agreement to assist us in any loss recovery effort.
- Indemnification. You agree to indemnify, defend, and hold us, our parent company, affiliates and subsidiaries, and our respective directors, officers, employees, and agents, harmless from and against any claim, damage, loss, liability, and cost (including, without limitation, attorney’s fees) of any kind which results directly or indirectly, in whole or in part, from: (a) our actions or omissions, if they are in accordance with your instructions or the terms of this Agreement; or (d) the actions or omissions of you, your agents, or employees.
- Notices. You agree to notify us immediately if you discover: (a) and error or discrepancy between your records and the information we provide to you about your accounts or transactions (e.g., in a statement, confirmation, or electronic report); (b) unauthorized transactions involving any account; (c) a breach in the confidentiality of the password(s) or User Guide; or (d) other problems related to the Services. You must send us a written notice of any discrepancy or other problem, including a statement of the relevant facts, within a reasonable time (not to exceed 15 days from the date you first discover the problem or receive information reflecting the problem, whichever occurs first). If you fail to notify us within 15 days, you agree that, in addition to any other limitations on our liability: (a) in the case of an erroneous funds transfer, you will be liable for all losses up to the amount thereof (as well as any loss of interest), which result from your failure to give us such notice or which might have been prevented by your giving us such notice; and (b) in the case of an unauthorized funds transfer, we will not be liable for any loss of interest which results from your failure to give us such notice or which might have been prevented by your giving us such notice. You agree to provide us with your current and updated mailing location and e-mail address. Unless otherwise agreed, notices required by this Agreement must be in writing. Notices to you may be mailed or sent to you at the statement, e-mail, or mailing address shown for you in our deposit or Service records. Notices to us must be sent to: Generations Bank, Internet Department, PO Box 10, Camden, AR 71711.
- Your Records. This Agreement and the Services are not intended to relieve you of any obligation imposed by law or contract regarding the maintenance of records or from employing adequate audit, accounting and review practices as are customarily followed by similar businesses. You agree to retain and provide to us, upon request, all information necessary to remake or reconstruct any deposit, transmission, file, or entry until ten banking days following receipt by us of the deposit, file, entry, transmission, or other order affecting an account.
- Termination. Either party may terminate this Agreement as to some of all of the Services, with or without cause, by giving 20 days prior notice to the other party. We may terminate your Services or this Agreement immediately and without prior notice if: (a) you breach any agreement with us; (b) the confidentiality of any of your passwords is compromised; (c) we have reason to believe that an unauthorized transaction has taken or may take place involving any of your accounts or any of the Services; (d) you become insolvent or the subject of a bankruptcy, receivership, or dissolution proceeding; or (e) we are uncertain as to any person’s authority to give us instructions regarding your accounts of the Services. The termination of this Agreement will not affect the rights or obligations of the parties that arise prior to termination.
- How to Contact Us. You may contact us from the online banking page or by writing to us at Generations Bank, Online Banking, PO Box 10, Camden, AR 71711, or call us at (844)661-0056.
- Miscellaneous Terms. A. Amendments. We may amend (add to, delete or change) the terms of this Agreement, the Service fees, and the User Guide at any time. We will provide you with prior written or electronic notice when required by law. We may amend our security procedures without prior notice if immediate changes are required for security reasons or the changes do not have a material effect on your use of the Services. B. Entire Agreement. This Agreement, together with any Addendum hereto, supplements (and supersedes where inconsistent) the terms of your deposit agreement with us. Unless we provide otherwise in writing, they constitute (along with any Service fee schedule) the entire agreement between you and us with respect to the Services. C. Financial Review. You agree to provide us with a financial statement and other information on your financial condition upon our request. D. Governing Law/Compliance. This Agreement will be governed by and constructed in accordance with the laws of the state of Arkansas, without reference to its conflict by law provisions. You agree not to utilize the Services to conduct any transactions that would violate the laws of any state or the United States, including the economic sanctions administered by the U.S. Treasury’s Office of Foreign Assets Control. E. Monitoring of Communications. You agree on behalf of yourself, your employees and agents that we may monitor and record your telephone and electronic communications in connection with the Services at any time, without further notice to you or any party to the communication. F. No Assignment. We may assign our rights and delegate our duties under this agreement to a company affiliated with us or to a third part. You may not assign any right or delegate any obligation under this Agreement without prior written consent. G. No Third Party Beneficiaries. This Agreement is made for the exclusive benefit of you and us. No third party has any rights under this Agreement. H. No Third Party Use. Unless you have our prior written consent, you may not use the Services to process transactions for third parties or permit others to initiate Service transactions on your behalf. I. Security Interest. You grant us a security interest in your Bank account to secure the repayment of any overdraft or other obligation that you incur under this Agreement. J. Validity. If any provision of this Agreement is found to be void or invalid, the remainder of this Agreement will remain in full force and effect. K. Waivers/Overdrafts. Any waiver by us must be in writing to be effective. Our waiver of any right will not be deemed a waiver of other rights or of the same right at another time. Our practice of allowing overdrafts is entirely at our discretion and will not obligate us to continue the practice at any later date. We may discontinue permitting overdrafts at any time and without prior notice.