INTERNET BANKING
AGREEMENT AND DISCLOSURE
This Agreement and
Disclosure sets forth your and our rights and responsibilities concerning the
use of our Internet Banking Product. In this agreement, the words
"you" and "your" mean those who sign as applicants or any
authorized user(s). The words "we," "us," and
"our" mean The Bank. By using Internet Banking, you agree to all of
the terms of this agreement.
INTERNET BANKING FEATURES: You may access your account information by using
your Internet Banking User ID and a password assigned by you. At the present
time you may use the system to:
· Perform account inquiries on checking, savings, certificate and loan accounts
· Obtain detailed account history on your accounts
· Transfer funds between your deposit and/or loan accounts
·
Download transactions
into your financial management software
·
Pay bills online from
your checking account (with optional Bill Payment service)
·
Apply for a new
deposit and/or loan account
· Initiate authorization instructions for wire transfers from your checking account
· Initiate instructions for placing a stop payment on your checking account
· Submit a check re-order request
· Send secured e-mail messages to Bank personnel
Cash Management Features (Commercial customers only)
· Initiate EFTPS tax payments
· ACH origination
FEES AND CHARGES:
· Fees for Internet Banking Bill Payment Services are found in the Fee and Service Charge Schedule
· Normal bank fees will be assessed for completed wire transfers and stop payments.
· Normal check fees will be assessed when check orders are processed.
· Commercial Cash Management features are billed per individual proposal.
LIMITATIONS ON FREQUENCY AND AMOUNT: According to Federal Regulations, you may not make
more than six (6) pre-authorized or automatic transfers from your money market
account during a given monthly statement period. There are no limits on the
number or dollar amount of transfers or payments you make from your checking
account. Balances shown online are as of close of business for the prior day.
Balances may include deposits subject to verification by us. The balance may
also differ from your records due to deposits in process, outstanding checks or
other withdrawals, payments or charges. We have the right to cancel
transactions if sufficient funds are not available in your account.
USER ID AND PASSWORD: The User ID and password enable you access to the Internet Banking System. The password you create is confidential and should not be disclosed to third parties. You are responsible for safekeeping your password. You may change your password at any time by clicking on "User Options”. For security purposes, the system will automatically prompt you to change your password if you have not changed it in 90 days. You should carefully select a password that is hard to guess. (We suggest that you stay away from names, dates, and information that may be easily guessed). You agree not to disclose or otherwise make your password available to anyone not authorized to sign on your accounts.
In order to ensure the
security of your records, we will end your online session if we have detected
no activity for 20 minutes. This is to protect you in case you accidentally
leave your computer unattended while you are logged on. When you return to your
computer, simply re-enter your user id and password and continue your session.
NO SIGNATURE REQUIREMENT: When any payment or other on-line service
generates items to be charged to your account, you agree that we may debit the
designated account without requiring your signature on the item and without any
notice to you.
NOTICE OF LIABILITY: Tell us AT ONCE if you believe your 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 (2) business days, you can
lose no more than $50.00 if someone used your password without your permission.
If you do NOT tell us within two (2) business days after you learn of the loss,
and we can prove that we could have stopped someone from using your password
without your permission if you had told us, you could lose as much as $500.00.
If our statement shows
transactions that you did not make, tell us at once. If you do not tell us
within sixty (60) days after the statement was mailed to you, you may not get
back any money lost after the sixty (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 period. If you believe that your password has been lost or
stolen or that someone has transferred or may transfer money from your account
without your permission, call us at 410-665-7600 Ext. 3082 or write us at 2001
East Joppa Road, Baltimore, MD 21234.
BUSINESS DAYS: Our Internet 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. Holidays are not
included.
CUTOFF TIMES: The following cutoff times pertain to specific Internet Banking features. Transactions received after the cutoff time will be posted the following business day.
Funds Transfers - 3:00 p.m.
Wire Transfers - 3:00 p.m.
Stop Payments - 3:00 p.m.
Cash Management - 3:00 p.m.Determined per individual proposal
DOCUMENTATION:
Periodic Statement: You will get a monthly account statement from us
on your checking or statement savings account.
Confirmation or Receipt: A confirmation or receipt will be displayed at the
time you make a transfer, initiate cash management transactions, or submit instructions
for wire transfers, stop payments or check orders. This confirmation or receipt
should be printed and kept for your records.
OUR LIABILITY FOR INCOMPLETE TRANSACTIONS: If we do not complete a transaction 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:
· If, through no fault of ours, you do not have enough money in your account to cover the transaction.
· If the money in your account is subject to legal process or other claim restricting such transaction.
· If the transaction would go over the credit limit on your overdraft line.
· If the terminal or system was not working properly and you knew about the breakdown when you started the transaction.
· If circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken.
IN CASE OF ERRORS OR QUESTIONS: Call or write the bank
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 (60) days after we sent the FIRST statement
on which the problem or error appeared.
· Tell us your name and account number
· Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
· Tell us the dollar amount of the suspected error.
· Confirmation or Receipt number
If you tell us orally, we
may require that you send us your complaint or question in writing within ten
(10) business days.
We will tell you the
results of our investigation within ten (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 forty-five (45) days to investigate your complaint or question. If
we decide to do this, we will recredit your account within ten (10) business
days for the amount you think is in error, so that you have the use of the
money during the time it takes us to complete our investigation. If we ask you
to put your complaint in writing and we do not receive it within ten (10)
business days, we may not recredit your account.
If we decide that there
was no error, we will send you a written explanation of our findings within
three (3) business days after we finish our investigation. You may ask for
copies of the documents that we used in our investigation. If a notice or error
involves an electronic funds transfer that was initiated in a foreign location,
the applicable time period for action shall be twenty (20) business days in
place of ten (10) business days, and ninety (90) calendar days in place of
forty five (45) calendar days.
CONFIDENTIALITY: We will disclose information to third parties about your account or the transaction you make:
· To complete transactions as necessary;
· To verify the existence and condition of your account upon the request of a third party, such as a credit bureau or merchant; or
· To comply with government agency or court orders; or
· If you give us your written permission.
VIRUS PROTECTION: The Bank is not responsible for any electronic virus or viruses that
you may encounter. We encourage our customers to routinely scan their PC and
diskettes using a reliable virus product to detect and remove any viruses.
Undetected or unrepaired viruses may corrupt and destroy your programs, files
and even your hardware. Additionally, you may unintentionally transmit the
virus to other computers.
NOTICES:
All notices from us will be effective when we have mailed them or delivered
them to your last known address on our records. Notices from you will be
effective when received by us at the telephone number or the address specified
in this agreement. We reserve the right to change the terms and conditions upon
which this service is offered. We will mail notice to you at least twenty-one
(21) days before the effective date of any change, as required by law. Use of
this service is subject to existing regulations governing your account and any
future changes to those regulations.
ENFORCEMENT: In the event either party brings a legal action to enforce this agreement or collects amounts owing as a result of any account transaction, the prevailing party shall be entitled to reasonable attorneys’ fees and costs, including fees on any appeal, subject to any limits under applicable law.
TERMINATION: You agree that we may terminate this agreement if:
· You or any authorized user of your password breach this or any other agreement with us;
· We have reason to believe that there has been an unauthorized use of your account or password;
· We notify you or any other party to your account that we have cancelled or will cancel this Agreement.
· You are any other party to your account can terminate this Agreement by notifying us in writing.
Termination of service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.