Online Banking Agreement

Online Banking Agreement Print Version 

PLEASE READ THIS AGREEMENT CAREFULLY AND KEEP A COPY FOR YOUR RECORDS.

1. The Service

In consideration of the Online Banking services (“Services”) to be provided by Bank of Stronghurst, as described from time to time in information distributed by Bank of Stronghurst to its customers.  In the agreement, “Customer” refers to the person(s) subscribing to or using the Services, the Customer agrees as follows.  You may use a Personal Computer (“PC”) through an Internet connection to obtain account balances and transaction information.  You may also use your PC to obtain statements on your accounts and to transfer money between your accounts.  In addition, you may use your PC to electronically direct us to make payments from your account to third parties (“Payees”) that you have selected to receive payment through the Service.  You may make payments through the service to any business professional, merchant, family member, or friend.  The (“account”) means your designated bill payment checking account at Bank of Stronghurst from which we make bill payments on your behalf pursuant to the Agreement.  By subscribing to the Service or using the Service to make any payments to a third party, you agree to the terms of the Agreement.

Note: Transfers from your Savings and Money Market accounts are considered pre-authorized transfers.  Bank regulations require us to limit preauthorized transfers.  The following limitations apply:

Savings Accounts: Transfers from a Bank of Stronghurst savings account to another account by preauthorized, automatic, telephone, or computer transfer are limited to six per month.  Transfers from a Savings account to third parties by preauthorized, automatic, telephone, or computer transfer, check, draft, debit card, or similar order to third parties are not allowed.

Money Market Accounts: Transfers from a Bank of Stronghurst Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, or similar order to third parties are limited to six per statement cycle.  FEES: A Money Market debit fee of $5.00 will be charged for each debit transaction (draft, check, automatic or computer transfer, debit card or payment out of this account) in excess of six during a statement cycle.

New features may be introduced for the Service from time to time.  By using these features when they become available, you agree to be bound by the rules that will be made available to you concerning these features.

2.  Online Banking Services

The features available through the Service may include:

  • Account inquiries.
  • Current activity plus one statement of Internet transactional detail and history.
  • Transfers between your accounts at Bank of Stronghurst.
    - Checking to checking
    - Checking to savings
    - Savings to checking
    - Savings to savings
    - Checking to loan(s) with us
    - Savings to loan(s) with us
  • Bill Payment and Presentment.
  • 6 months of online statements.

3. Your User Code and PIN

Each individual who has access to Bank of Stronghurst Online Banking Service including each individual named on a joint account, must have a Personal Identification Number (“PIN”) and a user code.  Your PIN must be a minimum of 8 characters, up to a maximum of 17 characters, which must consist of at least two (2) numeric characters and two (2) alpha characters.  Your PIN is case sensitive.  For example, your PIN may be: AbCd1234, ab123456, or 12abcdef. You will be required to change your PIN every 6 months to enhance security.

4. Delivery of Your Transfers

You may schedule transfers to be initiated on the current business day, on a future date, or on the same date of each month, subject to the restrictions in the Agreement. Although you can enter transfer information through the Service twenty-four (24) hours a day, seven (7) days a week, transfers can be initiated only on business days. Funds will be deducted from your Account on the business day on which a transfer is to be "initiated." This date is referred to in this Agreement as the "Transaction Date." If you direct the initiation of a transfer to occur on a day other than a business day, it will be initiated on the following business day.

5. Recurring Transfers

Recurring transfers are those made for the same amount and are made on a weekly, bi-monthly, or monthly basis, etc. Once started, recurring transfers will be made automatically until you tell us to stop or cancel the service and we have a reasonable opportunity to react.

6. Our Liability for Failure to Complete Transactions

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 might be liable for some of your losses or damages. However, there are some exceptions. We will not be liable for instance:
a. if, through no fault of ours, you do not have enough money in your account to make the transfer;
b. if the money in your account is subject to legal process or other encumbrances restricting transfer;
d. if the automated teller machine or the merchant where you are making the transfer does not have enough cash;
e. if the system was not working properly when you started the transfer;
f. if circumstances beyond our control (such as fire or flood or systems failure) prevent the transfer, despite reasonable precautions that we have taken.

7. Canceling Transfers

You may use your PC to cancel a transfer up to 6:00 p.m. (CST) on the business day your transfer is scheduled to be initiated ("Transaction Date"). There is no fee for canceling a transfer Online. Other requests must be made at least one (1) day prior to scheduled transfer date.

8. Statements

All transfers, and/or fees made with the Bank of Stronghurst Online Banking Service will appear on your monthly Account statement. The Account name, transfer amount, and date of the transfer will be shown for each transfer made through the Service during that month.

9. Fees

Fees for Bank of Stronghurst Online Banking shall be payable in accordance with a schedule of charges as established and amended by Bank of Stronghurst from time to time. Charges shall be automatically deducted from a customer’s Account, and Bank of Stronghurst shall provide to Customer monthly notice of such debit(s) on your statement.

10. Equipment

You are solely responsible for the equipment (including, in the case of Online Banking, your personal computer and software) you use to access the Services. We are not responsible for errors or delays or your inability to access the Services caused by your equipment. We are not responsible for the cost of upgrading your equipment to stay current with the Services nor are we responsible, under any circumstances, for any damage to your equipment or the data resident thereon.

11. Business Day

A business day is every Monday through Friday excluding Federal Reserve Holidays.

12. Business Day Cut-off

Business day cut-off for electronic services refers to the cut-off time for posting purposes.  The cut-off time for online transactions is based upon our Business Days and the Central Time Zone.  For posting purposes, we will process all transactions completed by 6:00 p.m. on the same Business Day.  Transactions completed after 6:00 p.m. will be processed on the following Business Day.  Bill Payment cut-off and scheduling times differ and are further detailed in this Agreement.

13. Notice of Your Rights and Liabilities

Security of your transactions is important to us. Use of the Services may therefore require a PIN or password. If you lose or forget your PIN or password, please call (309) 924-1316 during normal business hours.

We may accept as authentic any instructions given to us through the use of your password or PIN. You agree to keep your PIN and password secret and to notify us immediately if your PIN or password is lost or stolen or if you believe someone else has discovered your PIN or password. You agree that if you give your PIN or password to someone else, you are authorizing them to act on your behalf, and we may accept any instructions they give us to make transfers or otherwise use the Services. Online Banking enables you to change your password. We require that you do so periodically. We may be liable for certain security breaches to the extent required by applicable law and regulation. We do not assume any other liability or otherwise guarantee the security of information in transit to or from our facilities. Please note that we reserve the right to (1) monitor and/or record all communications and activity related to the Services; and (2) require verification of all requested transfers in the manner we deem appropriate before making the transfer (which may include written verification by you). You agree that our records will be final and conclusive as to all questions concerning whether or not your PIN or password was used in connection with a particular transaction. If any unauthorized use of your PIN or password occurs you agree to (1) cooperate with us and appropriate law enforcement authorities in identifying and prosecuting the perpetrator; and (2) provide reasonable assistance requested by us in recovering any unauthorized transfer of funds.

Tell us AT ONCE if you believe your PIN 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. If you tell us within two (2) business days, you can lose no more than $50. If you do NOT tell us within two (2) business days after you learn of the loss or theft of you PIN or password, and we can prove we could have stopped someone from using your PIN or password without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may not get back any money you lost after the 60 days if we can prove that we could have prevented someone from taking the money if you had told us in time. If you believe your PIN or password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call (309) 924-1316 during normal business hours. WE CANNOT ACCEPT NOTIFICATION OF LOST OR STOLEN PINS OR PASSWORDS OR UNAUTHORIZED TRANSFERS VIA E-MAIL.

14. Errors and Questions

In case of errors or questions about your electronic transactions, telephone us at (309) 924-1316 any time from 8:00 a.m. to 4:00 p.m. Monday through Thursday or 8:00 a.m. to 5:30 p.m. on Friday, or 8:00 a.m. to 12:00 noon on Saturdays or contact us at:

Bank of Stronghurst
108 E. Main, P.O. Box 420
Stronghurst, IL 61480

as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must hear from you no later than sixty (60) days after we sent you the FIRST statement on which the problem or error appeared. You will need to:
a. tell us your name and Account number (if any);
b. describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and
c. tell us the dollar amount of the suspected error.

If you tell us verbally, we may require you to send us your complaint or question in writing within ten (10) business days following the date you notified us. We will determine whether an error occurred within ten (10) business days (twenty (20) business days if the notice of error involves an electronic fund transfer to or from the account within thirty (30) days after the first deposit to the account was made) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days (twenty (20) business days if the notice of error involves an electronic fund transfer to or from the account within thirty (30) days after the first deposit to the account was made) for the amount you think is in error, so that you will have use of the money during the time 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 ten (10) business days, we may not credit your account.

If we determine there was no error, we will reverse the previously credited amount, if any, and we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents we used in our investigation.

15. Disclosure of Account Information to Third Parties

We may disclose information to third parties about your account or the transactions you make:
a. where it is necessary for completing transactions or resolving errors involving the Services; or
b. in order to verify the existence and condition of your account for a third party, such as a credit bureau or a merchant; or
c. in order to comply with government agency rules, court orders, or other applicable law; or
d. to our employees, service providers, auditors, collection agents, affiliated companies, or attorneys in the course of their duties and to the extent allowed by law; or
e. if you give us your permission.

16. Authorization to Obtain Information

You agree that we may obtain and review your credit report from a credit bureau or similar entity. You also agree that we may obtain information regarding your Payee Accounts in order to facilitate proper handling and crediting of your transfers.

17. Termination

If you want to terminate your access to the Bank of Stronghurst Online Banking, call us at (309) 924-1316. After receipt of your call, we will send a written termination authorization for your signature to be returned to us. RECURRING TRANSFERS WILL NOT NECESSARILY BE DISCONTINUED BECAUSE YOU TERMINATE ACCESS TO THE SERVICES. IF YOU WANT TO MAKE SURE THAT RECURRING TRANSFERS BETWEEN ACCOUNTS ARE STOPPED, YOU MUST FOLLOW THE PROCEDURES IN THE CANCELING TRANSFERS PARAGRAPH ABOVE. 
We reserve the right to terminate the Bank of Stronghurst Online Banking, in whole or in part, at any time with or without cause and without prior written notice. In that event, or in the event that you give us a termination notice, we may (but are not obligated to) immediately discontinue making previously authorized transfers, including recurring transfers and other transfers that were previously authorized but not yet made. We also reserve the right to temporarily suspend the Services in situations deemed appropriate by us, in our sole and absolute discretion, including when we believe a breach of system security has occurred or is being attempted. We may consider repeated incorrect attempts to enter your PIN or password as an indication of an attempted security breach. Termination of the Services does not affect your obligations under this Agreement with respect to occurrences before termination.

18. Limitation of Liability

Except as otherwise provided in this Agreement or by law, we are not responsible for any loss, injury, or damage, whether direct, indirect, or consequential, caused by the Bank of Stronghurst Online Banking or the use thereof or arising in any way out of the installation, operation, or maintenance of your PC equipment.

19. Waivers

No waiver of the terms of this Agreement will be allowed.

20. Assignment

You may not transfer or assign your rights or duties under this Agreement.

21. Governing Law

The laws of the state of Illinois shall govern this Agreement and all transactions hereunder. Customer acknowledges that he/she has reviewed this Customer Agreement, understands the terms and conditions set forth herein, and agrees to be bound hereby.

22. Amendments

We can change a term or condition of this Agreement by mailing or delivering to you a notice at least thirty (30) days before the effective date of any such change. We do not need to provide you with any prior notice where an immediate change in the terms or conditions of this Agreement is necessary to maintain or restore the security of our system or an account. However, even in these cases, if the change is to be made permanent, we will provide you with a notice of the change with the next regularly scheduled periodic statement we send you, or within thirty (30) days, unless disclosure would jeopardize the security of our system or an account. Notices mailed or delivered to you under this paragraph will be considered effective if mailed to the most recent address we show for you in either our Checking or Savings Account records, or e-mail address in which you authorized us to send such notices and/or disclosures.

23. Indemnification

Customer, in consideration of being allowed access to the Bank of Stronghurst Online Banking Services, agrees to indemnify and hold the Bank of Stronghurst harmless for any losses or damages resulting from the use of the Services, to the extent allowed by applicable law.

24. Security Procedures

By accessing the Services, you hereby acknowledge that you will be entering a protected website owned by the Bank of Stronghurst, which may be used only for authorized purposes. The Bank may monitor and audit usage of the System, and all persons are hereby notified that use of the Services constitutes consent to such monitoring and auditing. Unauthorized attempts to up-load information and/or change information on these websites are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986.

25.  Fee Schedule

Bank of Stronghurst Online Banking Services are FREE; however, an Image Retrieval Fee does apply as disclosed within our online banking website.

PLEASE READ THIS AGREEMENT CAREFULLY AND PRINT A COPY TO SIGN-UP FOR BANK OF STRONGHRUST ONLINE BANKING SERVICES

I am the owner of the following account number(s) to be included in the List of Accounts to be viewed through Online Banking.

List of Accounts

Checking Accounts

___________________

___________________

___________________

___________________

Savings Accounts

___________________

___________________

___________________

___________________

Certificate of Deposits

___________________

___________________

___________________

___________________

Loans

___________________

___________________

___________________

___________________

I understand that I am the only individual authorized by this agreement to use Online Banking and that use of the Online Banking signifies agreement to the terms and conditions set forth in this Online Banking Agreement.


Sign and Date:


Name: ____________________________________________  Date: ____________________