Online Banking and Bill Payment Agreement
Version Date: March 9, 2017
Electronic Banking Department:
Toll Free: 877-802-1212
P.O. Box 467
Newton, N.C. 28658
Please read the entire Agreement carefully before enrolling in the Service or initiating any transactions.
Business Customer – Refers to anyone other than a Consumer who owns an Eligible Account with respect to which the Service is requested primarily for business purposes, including without limitation sole proprietor accounts.
Business Day Cut-off – Refers to the cut-off time for posting purposes. The cut-off time for online transactions is based upon our Business Days and the Eastern standard time zone. For posting purposes, we will process all transactions completed by 4 p.m. for ACH and external transactions, 3 p.m. for wire transfers and 8 p.m. for real time transactions (i.e., internal transfers between your accounts at the Bank) on the same Business Day. Transactions completed after 8 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.
Consumer – Refers to a natural person who owns an Eligible Account at the Bank and who uses the Service primarily for personal, family, or household purposes.
Due Date – is the date reflected on your Biller statement for which the Bill Payment is due. It is not the late date or grace period.
Eligible Accounts – An Eligible Account means any one of your account(s) to which we may allow access through the Service under this Agreement. Only a checking account may be eligible for Bill Payment privileges. We may make additional accounts available for Bill Payment services from time-to-time as allowed by law or our Bill Payment Service Provider.If you or your Authorized Users desire features of the Service that allow you to initiate Bill Payments, transfers, ACH transactions, or otherwise remove funds from an account, you must have the required withdrawal authority over the relevant Eligible Account.
When using the Service, you agree to maintain one or more Eligible Accounts with us and to keep sufficient balances in any account to cover any transaction and fees that are ultimately approved by or related to the Service.
Focus Customer – individual who initially enrolls on behalf of a Business Customer. The Focus Customer is an individual who is both an authorized signer on an eligible Business Customer account and has been given the authority to establish and manage Sub-User access to the Online Banking Service. The Focus Customer is considered to have full authority to act on behalf of the Business Customer and any other authorized signers. A Focus Customer can designate and remove Sub-User Administrators as well as Sub-Users and may assign certain administrative rights to a Sub-User Administrator or Sub-User.
Joint Accounts – an Eligible Account that is added to the Service which is jointly held or has multiple signers.
Laser Draft Payment – is a payment method similar to a check written by you on your Payment Account. Billers should receive Laser Draft Payments no later than the Scheduled Payment Date. Funds remitted to the Biller are deducted from your Payment Account when the Laser Draft is presented to the Bank for payment. As a result, neither the Bank nor its Service Provider(s) can control when your Payment Account will be debited for a Laser Draft Payment.
Passcode – means your password to access Online Banking. The Passcode is known solely by you and not by the Bank or our Service Providers that you use to access the Online Banking Service.
Payment Account – is the checking account from which Bill Payments will be debited.
Payment Instructions – is the information provided by you to the Service for a bill payment to be made to the Biller (such as, but not limited to, Biller name, Biller account number, and Scheduled Payment Date).
Scheduled Payment – is a bill payment that has been scheduled through the Service but has not begun processing.
Scheduled Payment Date – is the day you want your Biller to receive your bill payment and is also the day your Payment Account will be debited (other than Laser Draft Payments, as described above), unless the Scheduled Payment Date falls on a non-Business Day in which case it will be considered to be the previous Business Day.
Service – means the Online Banking, Bill Payment and Delivery services offered by Peoples Bank through its Service Providers.
Service Guarantee – the amount the Bank’s Service Providers will bear responsibility for in accordance with the terms and conditions of this Agreement should a bill payment post after its Due Date.
Service Provider – includes any agent, licensor, independent contractor or subcontractor that the Bank may involve in the provision of Online Banking, Bill Payment, and electronic Bill Delivery services.
Sub-User – means an Authorized User who has been assigned access to a Business Customer’s Eligible Account by a Sub-User Administrator or Focus Customer. Sub-Users may be granted full or limited access to originate online transfers such as ACH transactions and/or wire transfers.
Sub-User Administrator – refers to an administrative user available only to Business Customers. A Sub-User Administrator may administer and assign access rights to Sub-Users.
you and your – As used within this Agreement, “you” and “your” refer to the person enrolling in the Service, owner of the Eligible accounts, Business Customer, Focus Customer, Sub-User Administrator as well as any Authorized Users or Sub-Users that such person allows, subject to the parameters of multiple user access as set forth within the Service.
we, us, or our – As used within this Agreement, refer to Peoples Bank and any agent, independent contractor, Service Provider, sub-contractor, licensor, designee, or assignee that Peoples Bank may involve in the provision of the Service.
Hardware and Software Equipment Requirements:
If we revise hardware and software requirements, and if there is a material change that impacts your ability to access the Online Banking Service, we will give you advance notice of these changes and provide you an opportunity to cancel the service and/or change your method of receiving electronic disclosures (e.g. change to paper format vs. an electronic format), although a fee will be imposed in conjunction with such change.
If you withdraw your consent or fail to give us an updated or corrected e-mail address, the Bank may also close any account opened through peoplesbanknc.com or which requires electronic delivery as a feature and mail the balance in your account to the last known mailing address and/or transfer the funds in any such account to another similar type of deposit account that the Bank offers at that time through its usual retail channels. The Bank, in its sole discretion, may decide what type of account is similar to your existing account. This replacement account may pay a lower rate of interest, have a lower Annual Percentage Yield, higher fees, and/or have a different maturity date (if applicable). In addition, if your account is a time deposit account, an early withdrawal penalty may apply if the account is closed before its maturity date. Your electronic consent to these terms and conditions is legally binding.
You will ensure the confidentiality of your password and you agree to indemnify, defend, and hold harmless, the Bank and its successors, assigns, affiliates, officers, employees, directors, and agents against any loss, claims, damages, judgments, awards, legal obligations, costs or expenses, including, without limitation, attorney’s fees and expenses based upon, arising out of, or related in any way to the Bank honoring your consent to electronic delivery of Account Documents
We may add or remove certain features and/or functionality available from time to time. You can use the Service seven days a week, 24 hours a day, although some or all features may not be available occasionally due to emergencies or scheduled system maintenance. In addition, access to the Service may be slower at times due to high Internet traffic or other factors beyond our control.
We may add or remove certain features and/or functionality from time-to-time. Business Customers interested in these services should contact Business Services at 828-468-4065 for additional information.
When you enroll for the Online Banking Service you agree to change your Passcode immediately if you suspect that your Passcode has been compromised. This can be done at any time from the “User Services” menu after you log on to the Online Banking Service.
Neither this Institution nor its Service Providers will contact you by telephone, email or text messaging requesting personal information, such as your Access ID, Passcode, credit card number, ATM Card Number or ATM PIn. If you are contacted by anyone requesting this type of information, do not provide any information and contact our Online Banking department immediately.
Encryption – The Online Banking Service uses the Secure Socket Layer (SSL) encryption technology for everything you do while using Online Banking. Your browser automatically activates this technology when it attempts to connect to our Online Banking Service. The Online Banking Service requires a browser that supports 128-bit encryption and we will warn you if your browser does not meet this requirement.
Whenever SSL is securing your communications, the browser will typically indicate this secure session by changing the appearance of a small icon of a padlock at the bottom of the screen from “open” to “locked”. What this means to you is that your communications are scrambled from your browser to our servers at all times so no unauthorized party can read the information as it is carried over the Internet.
Certificate Authority – The servers hosting the Online Banking Service have been certified by a certificate authority to assure you that you are actually talking to the Online Banking Service instead of someone pretending to be us. By clicking on the lock within the Online Banking Service, you can view the certificate to ensure it is valid.
Cookies – During your use of the Online Banking Service, our Online Banking Service Provider will pass an encrypted session cookie to your computer that enables us to process multiple transactions during the session without having to provide an Access ID and Passcode for each individual transaction. You must accept this cookie to use the Online Banking Service. The session cookie is stored on your computer’s hard-drive, identifying your computer while you are logged on. The session cookie does not contain any personal information. When you log off, close your browser, or turn off your machine, the session cookie will be destroyed. A new cookie is used for each session; thus, no one can use the prior cookie to access your account. Our Service Provider also uses persistent or “permanent” cookies to identify this Institution and your computer as part of our enhanced security. The permanent cookies will remain on your computer’s hard drive until you clear cookies with your browser. If you do not accept these cookies, you may not be able to use all the features of the Online Banking Service.
Multi-Level Authentication – We use multi-level authentication (or enhanced security) to help prevent unauthorized access to your accounts. As part of our enhanced security solution we may ask you to select challenge questions which may be used to help verify your identity in the event unusual login or transaction activity is detected. We require the use of security tokens (whether physical or software tokens) to perform cash management transactions through Online Banking. We may also send you a One Time PIN (OTP) which can be used to help authenticate your login or transaction requests.
Occasionally we may post important security notices on our website and/or send online banking users security related notices or reminders; it is your responsibility to read all security notices.
We may disable Passcodes of Authorized Users even without receiving such notice from you, if we suspect Passcodes are being used in an unauthorized or fraudulent manner.
Business Customers shall be solely responsible for the development and implementation of all commercially reasonable security procedures to protect their computer systems used to access the Online Banking Service.
The Bank and its service providers shall have no obligation, liability or control, either directly or indirectly concerning the Business customers’ selection of security systems or devices used to protect its computer System(s). Furthermore, neither this Institution nor its Service Providers shall have control over Business Customers’ development or implementation of said security procedures or the failure of business customer to maintain said procedures.
Business customers shall be solely responsible for any and all losses and damages arising from any authorized or unauthorized access to the Online Banking Service using a valid access id and passcode.
If the Bank and/or its Service Providers fail or delay in making a payment or transfer pursuant to your instruction, or if we make a payment or transfer in an erroneous amount which is less than the amount per your instruction, unless otherwise required by law our liability shall be limited to interest on the amount which we failed to timely pay, calculated from the date on which the payment or transfer was to be made until the date it was actually made or you canceled the instruction.
We may pay such interest either to you or the intended recipient of the payment or transfer, but in no event will we be liable to both parties, and our payment to either party will fully discharge any obligation to the other. If we make a payment in an erroneous amount which exceeds the amount per your Payment Instruction, or if we permit an unauthorized payment after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law, our liability will be limited to a refund of the amount erroneously paid, plus interest thereon from the date of the payment to the date of the refund, but in no event to exceed sixty (60) days interest.
If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the average federal funds rate at the Federal Reserve Bank OF Richmond for each day interest is due, computed on the basis of a three hundred sixty (360) day year.
No third party will have rights or claims against Peoples Bank and its Service Providers under this Agreement. The terms of this section will survive termination of this Agreement.
This is an exhibit (the “Exhibit”) to the Online Banking and Bill Payment Agreement (the “Agreement”) between you (“Customer”) and Peoples Bank (the “Bank”). The following terms and conditions apply to your access and use of Peoples Bank’s Online Banking Service through mobile devices, including without limitation Internet-enabled cellphones and computer tablets. The terms and conditions set forth in the Agreement are incorporated herein by reference; in the event of a conflict, the terms of this Exhibit shall control. This Exhibit, when taken together with the Agreement, constitutes the entire agreement among the parties concerning the subject matter hereof.
This is an exhibit (“Exhibit C”) to the Online Banking and Bill Payment Agreement (the “Agreement”) between you (“Customer”) and Peoples Bank (the “Bank”). The following terms and conditions apply to your access and use of Peoples Bank’s mobile remote deposit capture services (the “Mobile Deposit Service” or “Mobile Deposit”) through mobile devices, including without limitation Internet-enabled cellphones and computer tablets. The Mobile Deposit Service is only available to customers of the Bank that receive the Online Banking Service and the Mobile Service. The terms and conditions set forth in the Agreement are incorporated herein by reference; in the event of a conflict, the terms of this Exhibit C shall control, unless there is a conflict between this Exhibit C and Exhibit B, in which case Exhibit B shall control. This Exhibit C, when taken together with the Agreement, constitutes the entire agreement among the parties concerning the subject matter hereof. Other agreements you have entered into with the Bank, including without limitation the deposit account agreement governing your Bank account (including applicable terms and conditions and disclosures) (the “Deposit Account Agreement”), continue to apply.
You will ensure the safety and integrity of original Checks from the time of receipt until the time of destruction. If warranted in our reasonable judgment, we may audit and monitor you, and you agree to cooperate with us to permit such monitoring, to confirm that you have satisfied your obligations under this Exhibit C.
Proceed with Enrollment for the Online Banking Service.
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