Online Banking Agreement
Introduction
This Online
Banking Agreement and Disclosure Statement (“Agreement”) contains the terms and
conditions that govern your use of Online Banking. By accessing your accounts
through Prime Bank using services described below or future services offered by
Prime Bank Online Banking, you agree to be bound by the terms of this Agreement.
If you have any questions or do not understand this Agreement, please contact us
prior to your use of the service. The terms and conditions of your deposit
agreement, and disclosures for each of your accounts, as well as any other
agreements you may have with us, such as loans, continue to apply
notwithstanding anything to the contrary in this Agreement.
Definitions
As used in this
Agreement, the word(s):
-
“we”, “our” and “us” mean
Prime Bank;
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“you” and “your” mean the
account holder authorized by Prime Bank to use our Online Banking system
under this Agreement and anyone authorized by you to exercise control over
your funds through our Online Banking system;
-
“account” or “accounts”
means your accounts at Prime Bank;
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“electronic fund
transfers” mean ATM withdrawals, pre-authorized transactions, point of sale
transactions and transfers and transfers to and from your accounts at Prime
Bank using our Online Banking system; and
-
“business day” means
Monday through Friday, excluding state and federal banking holidays.
Authorized Access
To use Online
Banking, you must have at least one account established at Prime Bank, complete
an Online Banking Application, and agree to the terms and conditions set forth
in this Online Banking Access Agreement. Once we have received your completed
Online Banking Application, we will send you via email, your Access ID and a
temporary password. You will be required to change the temporary password the
first time you login to Online Banking. Prime Bank reserves the right to decline
any applicant who does not meet our internet banking requirements. Business
customers must complete an Online Banking Access Agreement and, depending on the
services requested, may have to execute additional agreements. Access to your
accounts will be based upon the identification of users and authority levels
specified by you in your Online Banking Application. Online Banking can be used
to access only the accounts you have authorization to access. We undertake no
obligation to monitor transactions through Online Banking to determine that they
are made on behalf of the account holder.
Security Procedures
You acknowledge
and agree that: (a) you have approved and will abide by the security procedures
set forth in this Agreement and any other security procedures established by us
that have or will be presented to you in the future; (b) these procedures are
commercially reasonable and adequate for the purpose intended; and (c) we are
authorized to act on instructions received under your password.
For security purposes: (a) you will determine what password you will
use; (b) the identity of your password is not communicated to us; (c) you accept
responsibility for the confidentiality and security of your account number(s)
and password and agree to change your password regularly; and (d) your password
and User ID are intended to provide against unauthorized entry and access to
your account(s); therefore, upon three unsuccessful attempts to enter your
password, your access to the Online Banking System will be revoked; to
re-establish your authorization to use the Online Banking System, you must
contact us to have your password reset or obtain a new temporary password.
Data transferred via Online Banking is encrypted in an effort to
provide transmission security and Online Banking utilizes identification
technology to verify that the sender and receiver of the Online Banking
transmissions can be appropriately identified by each other. Notwithstanding our
efforts to ensure that the Online Banking system is secure, you acknowledge that
the internet is inherently insecure and that all data transfers, including
email, occur openly on the internet and can potentially be monitored and read by
others. We cannot and do not warrant that all data transfers utilizing the
Internet Banking System, or emails transmitted to and from us, will not be
monitored or read by others.
Transfers
When you instruct
Prime Bank to transfer funds to or from your accounts through Online Banking,
you are authorizing Prime Bank to withdraw the necessary funds from the account
you designate. Transfers initiated through Online Banking before 6:00 p.m. CST
on a business day are posted to your account the same day. Transfers
completed after 6:00 p.m. CST on a business day, Saturday, Sunday or a banking
holiday will be posted on the next business day.
Overdrafts - Order of Payments, Transfers and other
Withdrawals
If your account
has insufficient funds to perform all electronic fund transfers you have
requested for a given business day, then: (a) electronic fund transfers
involving currency disbursements, like ATM withdrawals will have priority; (b)
electronic fund transfers initiated through Online Banking which would result in
an overdraft of your account may, at our discretion, be cancelled; and (c) in
the event that the electronic fund transfer(s) initiated through Online Banking
which would result in an overdraft of your account is not cancelled, overdraft
charges may be assessed pursuant to the terms of the deposit agreement for that
account.
Limits on Frequency and Amounts of Online Banking Transactions
The number of transfers from bank accounts and the amounts that may be
transferred are limited pursuant to the terms of the applicable deposit
agreement and disclosure for those accounts. If a hold has been placed upon
deposits made to an account from which you wish to transfer funds, you cannot
transfer the portion of the funds until the hold expires.
Disclosure of Account Information and Transfers
You understand that information about your accounts or the transfers you
make may automatically be disclosed to others. We will disclose information to
third parties about your account or the transfers you make only: (a) where it is
necessary for completing the transfers; (b) in order to verify the existence and
condition of your accounts for a third party, such as a credit bureau or
merchant; (c) in order to comply with government agency or court order; or (d)
if you give us written permission. We may also seek information about you from
others, such as the credit bureau, in connection with the opening or maintaining
of your account or in connection with approving your access to Online Banking.
You agree and hereby authorize all of these transfers of information and have no
expectations of privacy with respect to your use of Online Banking.
Change in Terms
We reserve the right to change any term of this Agreement at any time. If
the change will result in increased fees for any Online Banking services,
increased liability for you, fewer types of available electronic fund transfers
or stricter limitations on the frequency or dollar amount of transfers, we agree
to give you notice at least 30 days before the effective date of any such
change, unless an immediate change is necessary to maintain the security of an
account or our electronic fund transfer system. We will post any required notice
of the change in terms on the Online Banking website or forward it to you by
email or by
Periodic Statements
You will not receive a separate Online Banking statement. Transfers to and
from your accounts using Online Banking will appear on the respective periodic
paper statements for your bank accounts.
In Case of Errors or Questions
In order to
prevent misuse of your accounts through the Online Banking System, you must
promptly examine the paper statements for each of your accounts to verify
account activity. It is your responsibility to contact us immediately in case of
errors, questions about electronic transfers, incorrect information on your
paper statement or any concerns about the use of your password. We must hear
from you no later than 60 days after we sent the first paper statement upon
which the problem or error appeared. When you contact us you must provide: (i)
your name and account number, (ii) description of the error or transfer and a
clear explanation of why you believe it is an error or why you need more
information, (iii) the dollar amount of the suspected error; and (iv) for
transactions on Online Bill Pay, the account number used to pay the bill, payee
name, the date the of the bill payment, payment amount, and the payee account
number for the payment in question. If you contact us by telephone or by email,
we may require that you send us your complaint or question in writing via
Our Liability
If we do not complete a transfer to or from your account, on time or in the
amount you requested, according to our agreement with you when you have properly
instructed us to do so, we will be liable to you for your losses or damages
caused as a result but only to the extent of the amount of the payment or
transfer. We will not be liable if: (i) through no fault of ours, you do not
have enough money in your account to make a transfer; (ii) a legal order directs
us to prohibit withdrawals from the account; (iii) your account is closed or has
been frozen; (iv) the transfer would cause your balance to be overdrawn, to go
over the credit limit of any established line of credit or the credit limit for
any credit arrangement set up to cover overdrafts; (v) you, or anyone authorized
by you, commits any fraud or violates any law or regulation; (vi) any electronic
terminal, telecommunication device, or any part of the Online Banking electronic
transfer system is not working properly and you knew about the problem when you
started the transfer; (vii) you have not properly followed the on-screen
instructions for using the Online Banking System; or (viii) circumstances beyond
our control (such as fire, flood, interruption in telephone service or other
communication lines) prevent the transfer, despite reasonable precautions that
we have taken.
Your Liability
You must contact us immediately if you believe your password has been lost,
stolen, used without authorization, or otherwise compromised or if someone has
transferred or may transfer money from your accounts without your permission. A
phone call to us is the best way to reduce any possible losses. You could lose
all the money in your accounts (plus your maximum overdraft line of credit, if
any). If you contact us within two business days after you learn of the loss,
theft, compromise, or unauthorized use of your password, you can lose no more
than $50 if someone has used your password without your permission. If you do
not tell us within two business days after you learn of the loss or theft of
your password, 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. If your monthly paper statement contains 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 lose any amount transferred without your
authorization, after the 60 day period, if we can prove that we could have
stopped someone from making the unauthorized transfer if you had told us on
time. You agree to assist us in our efforts to recover any funds that were
transferred or paid without your permission.
Limitation of Liability, Indemnification
Notwithstanding any provision to the contrary contained in this Agreement,
we shall be responsible only for performing the services as expressly provided
for in these Terms and Conditions. We shall only be responsible for losses that
are the direct result of our own negligence or misconduct in performing these
services. We shall have no liability for failure to perform any services or for
any disruption or delay in services in the event such failure, disruption or
delay is due to circumstances beyond our reasonable control, including but not
limited to, failure or disruption of electric power, computer equipment,
telecommunication systems, your internet service provider, or weather
conditions. We shall have no liability for any consequential, special punitive
damage or indirect loss under any circumstances.
Unless otherwise required by law or specifically provided for in this Agreement,
you agree that neither we nor the service providers shall be responsible for any
harm, including but not limited to direct, indirect, special, consequential and
economic damages, resulting in any way from the installation, operation or
maintenance of our equipment or software, or internet browser or access
software; nor shall we or the service providers be responsible for any loss,
property damage or bodily harm, whether caused by Prime Bank, its equipment or
software or by internet access or browser providers, or by online service
providers, or any agent or subcontractor of any of the aforementioned parties.
Except to the extent that we are liable under these Terms and Conditions, you
agree to indemnify and hold Prime Bank, its officers, directors, employees and
agents harmless from all claims, demands, judgments and expenses (including
reasonable attorneys’ fees) arising out of or in any way connected with the
performance of these services. You agree that this Indemnification shall
survive the termination of this Agreement.
Rights to Terminate
This Agreement will remain in effect until it is terminated by you or by
Prime Bank. You may cancel Online Banking at any time by written request
forwarded via U.S. mail or face-to-face delivery to Prime Bank at 3000 N. Kelly,
Suite 200, Edmond, OK 73003. Prime Bank reserves the right to cancel this
Agreement and terminate your use of Online Banking for any reason, at any time.
If we terminate this Agreement, no further transfers or bill payments will be
made, including but not limited to any payment scheduled in advance or any
preauthorized recurring payments or transfers.
By clicking on the “I have Read and Accept” button, I agree that I have
read and completely understand the above Online Banking Agreement and Disclosure
Statement.
I have Read and Accept I Decline