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White Rock Bank Agreement and Disclosures This agreement states the terms and conditions that apply when you use the White Rock Bank Internet Banking service. These terms and conditions are in addition to those that apply to any accounts you have with us or any other services you obtain from us. You must also follow all of our instructions and procedures applicable to the services covered by this agreement.“You” and “your” mean each person who establishes an Internet Banking Customer Account with us or who uses or is authorized to use a Telebanc Password or other means of access we establish or approve. The term “Internet Banking” means our service that allows you to make payments, transfer funds, access accounts, obtain information and perform other transactions over the Internet by use of a personal computer and modem and /or other means we authorize or allow. Access ID and Password To access our Internet Banking service, you must use the Access Id and/or other means of access we establish or provide for your Internet Banking Customer Account, together with a Password. Anyone to whom you give your Internet Banking Access Id and Password or other means of access will have full access to your accounts even if you attempt to limit that person’s authority. Internet Funding Account You may not designate any account that requires more than one signature for withdrawals. You must be the owner of the account. Internet Banking Transactions You or someone you have authorized by giving them your Access Id and Password or other means of access (even if that person exceeds your authority), can instruct us to perform the following transactions:
You must have enough available money or credit in any account from which you instruct us to make a payment or transfer. If any of your qualifying accounts are money market and/or regular savings accounts, certain types of withdrawals from those accounts, including payments and transfers are limited to a total of no more than 6 in any specified period. The specified period of money market accounts is the monthly statement period. The specified period of savings accounts is the calendar month. The kinds of withdrawals covered by this limitation are those made by means of preauthorized or automatic transfers and payments or telephone agreement. A total of only 3 of these kinds of withdrawals may be made by check, draft, debt card, or similar order payable to third parties. You also agree to the “Terms and Conditions of Your Deposit Account” that you received when you opened your deposit account. You can request another “Terms and Conditions of Your Deposit Account” by contacting us at 507-263-3030 during normal business hours, email us at info@whiterockbank.com, or write us at PO Box 548, Cannon Falls MN, 55009. Stop Payments Once a Bill Pay payment has been debited from your account, you CANNOT cancel or stop a bill payment which has been paid electronically. You may be able to stop a bill payment paid by paper draft by contacting the Bank in person or by telephone before the paper draft has cleared. (You will have to contact the Bank in person or by telephone to determine if the paper draft has cleared.) If the paper draft has not cleared, the Bank will immediately process your stop-payment request. The Bank will notify you immediately if the paper draft has already cleared. To be effective, this type of stop payment request must precisely identify the name of the payee, the payee-assigned account number, the amount and scheduled date of the payment, and the ID number from the Bill Pay screen. You acknowledge that the stop payment feature of the online banking is an alternate entry system for issuing stop payment orders between you and the Bank. When using online banking to stop payments, you should follow the onscreen instructions. Prior to requesting a stop payment, you must first verify that the item has not already been posted to your account. If a stopped item has already been paid prior to the Bank’s entry of the request, then the Bank shall not be liable for any loss incurred by you arising from the event. You may initiate stop payment requests online via the online banking only for paper checks you have written (non-electronically) on your Bank accounts (not Bill Pay paper drafts).You will need to contact the Bank to stop an ACH item. Online stop payment requests received before 4:00 p.m. Central Standard Time are typically processed on the same business day they are received. Stop payment requests received after 4:00 p.m. Central Standard Time are typically processed on the next business day. A stop payment order is effective for only 6 months (from the date of the original order) unless renewed during that time. To be effective, you should allow the Bank 3 business days to process the order and this type of stop payment request must precisely identify the name of the payee, the check number, the amount, and the date of the check. If you make stop payment requests online or by telephone, we may also require you to provide us with a written, paper request within fourteen (14) days. If you elect to cancel or stop a payment using the online banking, such requests will not be effective until the Bank acknowledges receipt. You will incur stop payment charges as disclosed in the current fee schedule for the applicable account. In the event you want to stop a Bill Pay paper draft, stop payment charges incurred by the third party check processor will be assessed. Our Liability for Failure to Complete Payments and Transfers If we do not complete a payment or transfer 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 exceptions. We will NOT be liable, for instance: 1. If, through no fault of ours, you do not have enough available money in the account from which a payment or transfer is to be made, or if the account has been closed or is not in good standing, or if we reverse a payment or transfer because of insufficient funds. 2. If any payment or transfer would go over the credit limit of any account. 3. If your equipment or ours was not working properly and the breakdown should have been apparent to you when you attempted to conduct the transaction. 4. If you have not given us complete, correct or current account number or other identifying information so that we can properly credit your account or otherwise complete the transaction. 5. If you do not properly follow our instructions or if you provide us with wrong or inaccurate information or fail to correct or tell us about any inaccuracy of which you are aware. 6. If you do not instruct us soon enough for your payment or transfer to be received and credited by the time it’s due. 7. If the money in the account from which a payment or transfer is to be made is subject to legal process or other claim restricts the transaction. 8. If circumstances or persons beyond our control prevent, delay, intercept or alter the transaction, despite reasonable precautions that we have taken. 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. Transfers made after 4:00 p.m. Central Standard Time will be processed on the next business day following processing. Holidays are not included. Statements Your Internet Banking payments and transfers will be indicated on the monthly or quarterly statements we provide or make accessible to you. You agree to notify us promptly if you change your address or if you believe there are any errors or unauthorized transactions on any statement, or statement information. Your Liability Each of you agrees, for yourself to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges as accrued directly from the account balance. You are liable for all transactions that you or any of you make or authorize, even if the person you authorize exceeds your authority. If you have given someone your Access Id and Password or other means of access and want to terminate that person’s authority you must change your Access Id and Password or other means of access or take additional steps to prevent further access by such person. Unauthorized Transactions or Loss or Theft of your Access Id or Password If you believe your Access Id or Password or other means of access have been lost or stolen or that someone has used them without your authorization, call us immediately at 507-263-3030 during normal business hours, after hours you may email us at info@whiterockbank.com, or write us at PO Box 548, Cannon Falls MN, 55009. Quickly telephoning us is the best way of reducing your possible losses. Should you email us, we will send an email back to you as confirmation that we did receive it. Because the Internet is not secured from being read by just anyone, do not include any of your account or social security numbers with your email. Your name, address, and a brief message as to what the problem might be is all we will need. I have read the EFT Disclosure displayed and agree to the terms and conditions
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