PC Banking Terms & Conditions
INTERNET and MOBILE BANKING SERVICE AGREEMENT
and DISCLOSURE STATEMENT
GENERAL: By completing the On-Line Enrollment (the “Application”) to obtain information about your accounts, to transfer funds between your accounts, and to request certain other bank services offered by Mid-Central National Bank, as described in this Service Agreement and Disclosure Statement (this “Agreement”) and as otherwise made available by the Bank from time to time (collectively, “Mid-Central National Bank online banking service”), and in consideration of our allowing you access to Mid-Central National Bank online banking service, you agree to the terms and conditions of this Agreement.
This agreement will be effective as of the date of our acceptance of this Agreement as evidenced by you completing the online enrolment. If you use Mid-Central National Bank Online Banking, you therefore indicate your consent to these terms. Please read this Agreement carefully and print a copy for future reference or you can refer to this document in the Online Banking section of our Web page at your convenience.
If you previously registered for Mid-Central National Bank Online Banking, this version of the Agreement replaces the agreement that you had with us. If you continue to use the Service, you are bound by these terms.
SECURITY & PROTECTING YOUR ACCOUNT
Mid-Central National Bank is strongly committed to protecting the security and confidentiality of our customer account information. Mid-Central National Bank uses state of the art technology in the ongoing development of it Online Banking Service to ensure this security. We use several different methods to protect your account information:
- You can only access Mid-Central National Bank Online Banking with certain browsers that have a high security standard.
- Your account numbers are not displayed in full – only the last 4 digits can be viewed.
- You must have a valid Access ID and Password to logon.
- If no action is taken for 10 minutes you will be automatically logged off Mid-Central National Bank Online Banking.
You agree to…
- Not give out your identifying information such as your PC Password to any other person. The Bank may rely on your Access ID to identify you when providing banking services to you.
- Never to leave your PC unattended while using Mid-Central National Bank Online Banking.
- To always exit the system by clicking on EXIT after using Mid-Central National Bank Online Banking.
- To notify Mid-Central National Bank at 1-877-631-1414 immediately if you suspect that your Access ID or Password has become known to any unauthorized person.
- The Accounts: You agree to use Mid-Central National Bank online banking solely for the services described in this Agreement and designated by you as provided in Section 5, and solely in connection with each deposit account (collectively, the “Deposit Accounts”) and each loan account (collectively, the “Credit Accounts”) held by the Bank and designated by you in the Application or subsequently designated by you as described below (collectively, the “Accounts”), except as otherwise expressly provided in this Agreement or as otherwise expressly permitted by us from time to time. Under this Agreement, there may be multiple accounts, and at least one (1) of the Deposit Accounts must be a checking account with unlimited check-writing privileges. You may add any account for which you, or all of you if more than one, are depositor, borrower, authorized signer, or authorized user by notifying the Bank or by visiting any Bank branch office. If you close or delete the only checking account designated for Mid-Central National Bank online banking, you will no longer be able to use Mid-Central National Bank online banking service.
- Password; Confidentiality of Password: All Mid-Central National Bank online banking transactions or inquiries must be initiated by use of your Mid-Central National Bank online banking personal identification code (the “Password”). We will assign you an initial Password after we have accepted your Application and Agreement. The first time you sign on Mid-Central National Bank online banking, you will be required to select a new Password. You may change your Password from time to time, as provided in the Software. It is recommended that you do not use your social security number, birthdays, names, or other codes that may be easy for others to determine as your Password. No Bank employee will ever ask for your Password, nor should you provide it to anyone unless you intend to allow that person access to your accounts. YOU AGREE TO KEEP YOUR PASSWORD CONFIDENTIAL. USE OF THE PASSWORD BY YOU OR BY ANY OTHER PERSON WITH YOUR AUTHORIZATION WILL BE CONSIDERED THE SAME AS YOUR WRITTEN SIGNATURE AUTHORIZING US TO COMPLETE ANY TRANSACTION OR REQUEST COMMUNICATED THROUGH SAMPLE BANK ONLINE BANKING. You agree that any Mid-Central National Bank online transaction or request initiated by use of the Password will be subject to and governed by this Agreement.
If you authorize another person to use your Password, that person can use Mid-Central National Bank online to view any information or initiate any transaction on any of the accounts to the same extent as you, including viewing information or initiating transactions on accounts to which that person does not otherwise have access. As such, your sharing of your Password is strongly discouraged by the Bank, and done at your sole risk and peril.
If a third party should gain access to your Password, you alone are responsible for changing the Password so as to deny the third party’s access to your banking information. Given the electronic nature of these transactions, the Bank shall have no liability to you in the event a third party should gain access to your Password through no fault of the Bank.
- Business Days: Business days for the Bank and for Mid-Central National Bank online are Monday through Friday, excluding holidays. You may access the accounts through Mid-Central National Bank online 24 hours a day, seven days a week, except that Mid-Central National Bank may perform regular maintenance on our systems or equipment, which may result in errors or interrupted service. We may also find it necessary to occasionally change the scope of our services. Mid-Central National Bank cannot guarantee that we will be able to provide notice of such interruptions and changes, although we will attempt to provide such notice.
- Online Services: You may use Mid-Central National Bank online to perform any of the following basic online services as follows:
- To transfer funds between any Deposit Accounts, such as checking, savings or money market deposit accounts;
- To transfer funds or make payments/advances as approved in a separate credit agreement between any Deposit Account and any Credit Account, such as installment loan, prime equity line or other loan;
- To receive and download balance and transaction information for Mid-Central National Bank accounts; and
- To receive e-mail from and transmit e-mail to the Bank, all as described in this Agreement and the Software.
Additionally, you may sign up for an additional online service (separate from the “basic services” described above): to pay bills electronically from a Deposit Account that is a checking account with unlimited check-writing privileges. [Refer to the Bill Payment Addendum to this Agreement if this option is selected.]
- Transfers to and from Accounts
- Deposit Accounts: You may use Mid-Central National Bank online service and Mobile Banking to initiate electronic fund transfers from one Deposit Account that is a checking, savings or money market deposit account to any other Deposit Account that is a checking, savings or money market deposit account, as provided in this Agreement. These types of transactions are referred to in this Agreement as “bank transfers”.
- Credit Accounts: You may use Mid-Central National Bank online service to initiate electronic fund transfers from one Deposit Account that is a checking, savings or money market deposit account to make a payment on a Credit Account that is a consumer loan, line of credit or mortgage loan as provided in this Agreement. These types of transactions are referred to in this Agreement as “loan payments”.
Limits on Transactions – There is a maximum dollar limit on any transfer equal to the available balance in your account. Funds must be available in the account from which you wish to transfer funds on the date you enter the transaction.
Restrictions on Transfers from Savings and Money Market accounts. Under Federal Reserve Board Regulation D, you may make an unlimited number of deposits or transfers into a savings or money market account; however, you may make no more that six transfers or withdrawals out of such an account per monthly statement cycle (not counting transactions made at ATM’s or at banking centers). Transfers made by telephone, personal computer or funds automatically transferred from a savings or money market account to another deposit account to another deposit account for overdraft protection are counted towards the six total permitted monthly transfers or withdrawals.
Insufficient Funds to Complete Transfer. If your account does not have sufficient funds to complete a transfer as of the date the transfer is scheduled to be made, the transfer may not be completed, but if we do complete the transfer as an accommodation to you, you are responsible for any overdraft created.
- Authorization: You expressly authorize us to debit the appropriate Deposit Account in the amount of any bank transfer or loan payment initiated through Mid-Central National Bank online banking or Mobile Banking by you or by any other person who is authorized to use your Password. You agree that we may treat any such bank transfer or loan payment from a Deposit Account the same as a duly executed written withdrawal, transfer, or check and that we may treat any such bank transfer or loan payment to a Deposit Account the same as a deposit, all in accordance with the terms of this Agreement and your deposit agreement(s) with us.
- Time of bank transfers; posting; funds availability: If you initiate a bank transfer or loan payment of available funds on or before 5:30 p.m. Central Time on a business day, the bank transfer or loan payment will be posted to the Deposit Account on the same business day. If you initiate a bank transfer or loan payment after 5:30 p.m. Central Time on a business day, the bank transfer will be posted on the next business day. Transferred funds will be available for withdrawal immediately. Please refer to the Processing Schedule for posting and funds availability information included as Schedule A to this Agreement.
Except as expressly otherwise provided in this Section, transferred funds will be available for transfer and withdrawal as provided in our Schedule of Funds Availability (the “Schedule of Funds Availability”): Processing Schedule (Schedule A) is subject to the provisions of Section 13 and 14.
- Account Information: You may use Mid-Central National Bank online banking to receive, download, and store or print information regarding an account that is routinely set forth in the statement for the Account, debits and credits made to the account, amounts and item numbers for items drawn on the account (if applicable), and the daily account balance (including interest credited to a Deposit Account and finance charges accrued on a Credit Account). The information that is made available to you is “raw data” furnished through the Service Provider and is subject to change, we cannot assure you of the accuracy or completeness of the information and expressly disclaim the same. You will still receive your usual periodic statement of account, and adjustments may have been made to your account in connection with the preparation of your statement.
- Electronic Mail Service: You may use Mid-Central National Bank online banking to send electronic mail (“e-mail”) to us and to receive e-mail from us via the “Contact Us” option. Communications sent over the public Internet are not necessarily secure. Therefore, we will not send, and we strongly suggest that you do not send, any confidential account information over the public Internet. The e-mail service may not be used to make bank transfers between accounts or to make bill payments from an account. E-mail transmitted by you to us via Mid-Central National Bank online often will not be delivered to us immediately. You agree that we may take a reasonable amount of time to act on any e-mail. Correspondence that requires expeditious handling should be made by calling the Bank. If you need to contact us immediately to stop payment, to report an unauthorized transaction or unauthorized use of your Password, to report unauthorized access to an account, or for any other reason, you should call us at 1-877-631-1414. We will not be responsible for acting on or responding to any e-mail request made through Mid-Central National Bank online banking until we actually receive your e-mail message and have a reasonable opportunity to act. You should check your e-mail regularly; we will attempt to notify you by e-mail in the event of any technical difficulties or other occurrence that my affect your use of Mid-Central National Bank online banking.
- Additional Service: We may, from time to time, make additional services available through Mid-Central National Bank online banking. We will notify you of the availability and terms of these new services. By using these additional services when they become available, you agree to be bound by this Agreement and any additional instructions, procedures and terms provided to you with respect to each of these new services.
- Fees and Charges: Customer Service requests for which you may be charged by Mid-Central National Bank include but are not limited to: ordering copies of checks, copies of statements, stop payments or any other requests made through the “Contact Us” option. These service requests are subject to Mid-Central National Bank normal service charges that were disclosed at the time of account opening and in any subsequent editions of or amendments to your Schedule of Fees Brochure. Please refer to the latest version of you Schedule of Fees & Disclosure document and any applicable amendments. In consideration of our making the Mid-Central National Bank online services available to you, you agree to pay, and you authorize us to automatically debit to the billing account designated on the Application (the “Billing Account”).
Access to the Mid-Central National Bank online banking basic services (viewing your accounts, completing transfers to and from your individual accounts, etc.) is FREE
For customers utilizing the “Bill Payment Service” [refer to the Addendum to this Agreement], a monthly fee of $4.95 will be charged (debited) against your designated account. This fee will allow an unlimited number of bills to be paid each month using the Bill Payment Program.
- Account Reconciliation: The Deposit Account statements or other notices provided to you by us will notify you of (a) the execution of bank transfers or bill payments and the debits to the Deposit Account made with respect to such bank transfers and bill payments, and (b) amounts debited by the Bank from the Billing Account or any other account for payment of the services or other charges pursuant to this Agreement. You agree that we will not be required to provide any other notice to you of the execution of bank transfers, bill payments, or debits. You agree to promptly examine each statement for a Deposit Account and to promptly report any discrepancies between your records and the Deposit Account statements or any other notices mailed by the Bank to you, as provided in Section 15.
- Settlement of Obligations: To the fullest extent permitted by applicable law, you authorize us to obtain payment of your obligations to us under this Agreement from time to time by (a) initiating debit or credit transfers to any of the accounts or (b) deducting the payment from the amount of any bank transfer or bill payment. Such obligations include, without limitation; fees owed to us and settlement for bank transfers or bill payments initiated through Mid-Central National Bank online banking. At the time any account is closed (whether by you, by us, or otherwise) or any Mid-Central National Bank online service is terminated (whether by you, by us, or otherwise), you agree that all such obligations will be immediately due and payable to us, and you authorize us to withhold the amount of any such obligations from any account. Debiting an account or deducting payment from the amount of any bank transfer or bill payment is not the Bank’s exclusive remedy under this or any other section of this Agreement and the Bank will not be deemed to have made an election of remedies by making any such debit or deduction on any one or more occasions.
- Bank’s Liability for Failure to Make or Stop Certain Electronic Fund Transfers: If we do not complete an electronic fund transfer to or from a Deposit Account in a reasonable amount of time or in the correct amount according to our agreement with you, we will only be liable for your direct losses or actual damages, except in the following instances:
- If, through no fault of ours, you do not have enough money in the Deposit Account (or any linked account) to make the electronic fund transfer.
- If the electronic fund transfer would go over the credit limit on any check overdraft protection line of credit account linked to the Deposit Account.
- If you have not completely and properly followed the terms of this Agreement or instructions provided by the Software regarding how to make an electronic fund transfer.
- If any data or instruction transmitted via Mid-Central National Bank online banking are inaccurate or incomplete.
- If you do not initiate an electronic fund transfer according to the time limits set forth in this Agreement and the online Payee list, or if the payment amount requested is less than the full amount due.
- If the electronic fund transfer has been transferred from the Deposit Account to a third party, including, without limitation, any third party through which payment is made and any payee or its financial institution.
- If the Hardware, the Software, the Service Provider, or any part of the Mid-Central National Bank online system, including the bill payment service, was not working properly and you knew about the breakdown when you started your electronic fund transfer.
- If circumstances beyond our control, such as an act of God, failure, delay, or error on the part of any third-party service provider (including, without limitation, the Service Provider, the United States Postal Service or any other delivery service), power outage, difficulty with telephone or cable lines or satellite communications, difficulty with any Hardware, the Software, or the Service Provider, computer virus or related problem, or cessation of the operation of the Service Provider or the arrangement between the Bank and the Service Provider, prevent or delay the electronic fund transfer, despite reasonable precautions that we have taken.
- If your funds are being held or frozen or are subject to legal proceedings.
- If the funds in the Deposit Account are unavailable (funds are only conditionally credited until they become available for withdrawal).
- If your Password has been reported lost or stolen or if we have any other reason to believe that an electronic fund transfer may be erroneous or unauthorized.
- If you, any joint holder, or an authorized cosigner on a Deposit Account has requested that we stop payment of the electronic fund transfer.
- If you have exceeded the limitations on the number of withdrawals or transfers allowed during the statement period for the type of Deposit Account you have with us (e.g., certain types of savings accounts, including money market deposit accounts).
- If the Deposit Account has been closed.
- If we do not receive the necessary transfer information from you or any third party, or if such information is incomplete or erroneous when received by us.
- There may be other exceptions stated in this or any other applicable agreement that we may have with you.
- Limits on Bank’s Liability: Our liability for electronic fund transfer made to or from Deposit Accounts is also governed by Sections 13 and 15. If any provision herein is inconsistent with any provision of Section 13 or Section 15 or any provision of applicable law that cannot be varied or waived by agreement, the provisions of those Sections or applicable law shall control. To the fullest extent permitted by applicable law, you agree that we will have no liability whatsoever for any loss, damage, or claim arising out of any delay or failure in the performance of Mid-Central National Bank online service in accordance with the terms of this Agreement, including but not limited to, that resulting from our negligence. Our duties and responsibilities to you are strictly limited to those described in this Agreement, except with respect to any provisions of the law applying to electronic fund transfers that cannot be varied or waived by agreement. In no event will the Bank be liable for any consequential, special, or punitive damages or for any indirect loss that you may incur or suffer in connection with the service (even if the Bank has been informed of the possibility of such damages), including, without limitation, attorneys fees. The Service Provider is an independent contractor and not the Bank’s agent. The Bank’s sole duty shall be to exercise reasonable care in the initial selection of the Service Provider. YOU ACKNOWLEDGE THAT NO EXPRESS OR IMPLIED WARRANTY, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS OR A PARTICULAR PURPOSE, IS MADE BY THE BANK WITH RESPECT TO ANY SAMPLE BANK ONLINE SERVICE OR THE SOFTWARE, AND THE BANK HEREBY DISCLAIMS ALL SUCH WARRANTIES. The only warranties are those provided by the licensor of the Software and set forth on the Software package. To the fullest extent permitted by applicable law, and without limiting the generality of the foregoing, the Bank shall not be liable at any time to you or any other person for any loss, charge, fee, penalty, expense or other damage resulting from any failure or delay of the performance of the bank’s responsibilities under this Agreement which is caused or occasioned by any act or thing beyond the Bank’s reasonable control, including, without limitation, legal restraint, interruption of transmission or communication facilities, equipment failure, electrical or computer failure, war, emergency conditions, acts of God, fire, storm, or other catastrophe, or inability to obtain or delay in obtaining wire services or Internet access, or refusal or delay by the Service Provider or another bank or financial institution to execute any bank transfer or bill payment. In addition, the Bank shall be excused from any failure or delay in executing a bank transfer or bill payment, if such execution would result in the violation of any applicable state or federal law, rule, regulation or guideline. To the fullest extent permitted by applicable law, you agree that the Bank shall not have any liability whatsoever for any loss caused by the act, error, or omission of you or any other person, including, without limitation, the Service provider, any Internet access service provider, any federal reserve bank or transmission or communications facility or any intermediary or receiving financial institution, and no such person shall be deemed the Bank’s agent.
- Your Liability for Unauthorized or Erroneous Transfers: To the fullest extent permitted by applicable law, you agree to be responsible for all unauthorized or erroneous transactions initiated through Mid-Central National Bank online banking. You have the obligation to immediately notify the Bank if your Password has been lost or stolen, or if someone has transferred funds from your account through Mid-Central National Bank online without your permission (or is contemplating do so). The following provisions of this Section apply only to your liability for unauthorized electronic fund transfers. An “unauthorized electronic fund transfer” means an electronic fund transfer from a Deposit Account that is initiated by another person without your authority to initiate the electronic fund transfer(s) and from which you receive no benefit. The term does not include any Sample Bank online electronic fund transfer that is initiated by a person to whom you furnished your Password, unless you have notified us that electronic fund transfers by that person are no longer authorized and we have had reasonable opportunity to act on that notification. We may require that the notice be in writing. You could lose all the money in your Deposit Account, some or all of the money in any linked account, or up to your maximum overdraft line of credit if you have a check overdraft protection line of credit, if you fail or refuse to immediately advise the Bank of the unauthorized use of your Password. If your statement shows electronic fund transfers that you did not make, tell us at once. If you do not tell us within sixty (60) calendar days after the statement was mailed to you, you shall not be entitled to assert a claim against the Bank, nor be entitled to any damages from the Bank, as to said unauthorized transfers. This sixty (60) day limitation is without regard as to the standard of care exercised by the Bank. If you believe your Password has been lost or stolen or that someone has transferred or may transfer money from a Deposit Account without your permission call: (877) 631-1414
Mid-Central National Bank
PO Box 152
Wadena MN 56482
- Rejection of Payment Orders; Overdrafts: You acknowledge that the Bank or the Service Provider may from time to time, in its sole discretion, reject any bank transfer or bill payment request (any “payment order”) or return any bank transfer or bill payment (a) if there are insufficient or unavailable funds in the Deposit Account or the Deposit Account has been closed or is frozen, (b) if the payment order does not conform to the terms of this Agreement or the Software, or (c) if the payment order appears to be a duplicate, but neither the Bank nor the Service Provider is under any obligation to recognize that a payment is a duplicate and you should not rely on the Bank or the Service Provider to do so. If a payment order is rejected or a bank transfer or bill payment is returned, either the Bank or the Service Provider will notify you and you will have the sole obligation to remake the payment order in accordance with the terms of this Agreement and the Software. The Bank or the Service Provider may from time to time, in its sole discretion and without any obligation to do so, execute any payment order or make any bank transfer or bill payment even though an overdraft to the account results. To the extent permitted by applicable law, you agree that neither the Bank nor the Service Provider will have any liability whatsoever for refusing to accept any payment order or rejecting or returning any bank transfer or bill payment. If an overdraft occurs in a Deposit Account, you agree to cause sufficient available funds to pay the amount of the overdraft to be deposited into or credited to the Deposit Account before the end of that business day. Any overdraft existing at the close of a business day is immediately due and payable without notice or demand.
- Disclosure of Deposit Account Information to Third Parties: You agree that we may from time to time disclose to third parties information about your Deposit Account or the transactions that you make through Mid-Central National Bank online banking. We will disclose information to third parties about your Deposit Account or the transfers you make:
- Where it is necessary for completing bank transfers or bill payment or providing any other service in connection with Sample Bank online banking; or
- In order to verify the existence and condition of your Deposit Account for a third party, such as a credit bureau or merchant; or
- In order to comply with government agency or court orders; or
- If you give us your written permission.
- Other Agreements; Severability; Governing Law: The terms and conditions of this Agreement are cumulative with and in addition to any terms of the signature cards or account agreements for your Deposit Account(s), the applicable account disclosures, the Service Schedule, the Schedule of Funds Availability, the Bank’s Electronic Fund Transfer Agreement and Disclosure Statement, the agreements governing the Credit Accounts, and the Application, all as may be amended from time to time. In the event of any conflict between this Agreement and the content of the Software or any related materials regarding the Bank’s obligations to you, the terms of this Agreement will control. If any provision of this Agreement is unlawful or unenforceable, each such provision or writing will be without force and effect without thereby affecting any other provision hereof. No consumer protection provision of the federal Electronic Fund Transfer Act or Federal Reserve Board Regulation E is intended to be waived by you under this Agreement unless the waiver is permitted by law. The parties agree to be bound by the operating rules and guidelines of the National Automated Clearing House Association and the applicable local automated clearing house association as in effect from time to time with respect to all automated clearing house transfers made hereunder. This Agreement will be governed by the substantive laws of the United States, applicable federal regulations, and to the extent not inconsistent therewith, the laws of the state where our offices holding the account(s) is located, without regard to such state’s rules regarding conflict of laws.
- We may amend this Agreement from time to time. Each amendment will be effected by our mailing or otherwise delivering the amendment, revised agreement and/or notice thereof to you in accordance with applicable federal and state laws. If no federal or state law specifically governs the amendment, the amendment shall be effected by mailing or otherwise delivering it to you or positing it in our full-service branch offices at least 10 calendar days prior to the effective date of the amendment. Notwithstanding the foregoing and to the extent permitted by applicable law, we may change any term of this Agreement without prior notice or obligation to you: (a) if the Software or the Service Provider changes any term without providing us sufficient notice to enable us to properly notify you; (b) for security reasons; (c) to comply with applicable law; or (d) as otherwise expressly provided in this Agreement.
- Termination: You agree that we may cancel or restrict your use of Mid-Central National Bank online banking or any Mid-Central National Bank online service at any time without notice to you if you do not pay any fee when due, or if you do not comply with any agreement governing your accounts, or if any such account is not maintained in good standing. We can also terminate the Service if we believe that an actual or potential unauthorized use of your Access ID, Password or account may be occurring. Mid-Central National Bank reserves the right to terminate your access to the Mid-Central National Bank Online Banking Service or any portion of it in its sole discretion, without notice and without limitation, except as may be required by law. You may cancel Mid-Central National Bank online by written request to the Bank at any time. If you cancel the bill payment service, all pending and/or recurring bill payments will be automatically canceled.
- Assignment: You may not assign all or any part of your rights or obligations under this Agreement without our prior express consent, which may be withheld in our sole discretion. We may assign or delegate all or any part of our rights or obligations under this Agreement, including, without limitation, the performance of the services described herein. This Agreement will be binding on and inure to the benefit of the successors and assigns of either party.
- No Third-Party Beneficiaries: This Agreement is for the benefit of you and the Bank and is not intended to grant, and shall not be construed as granting, any rights to or otherwise benefiting any other person, except as expressly otherwise provided in this Agreement.
- Ownership of Materials: The content and information on our site is the property of Mid-Central National Bank. It should not be duplicated or copied by any means.
SIGNATURE: By enrolling, you acknowledge that you have read and accepted the terms and conditions of this Agreement and agree to be bound by its terms. Absent a signature, by Mid-Central National Bank’s delivery of and the customer’s acceptance of a Password for the online banking service as evidenced by the customer’s use of the online banking service, the customer acknowledges and accepts the terms and conditions of this Agreement and agrees to be bound by its terms.
BILL PAYMENT ADDENDUM
Bill Payment Service:
All terms and conditions of the Personal Online Banking Service Agreement (the “Agreement”) apply to this additional optional electronic bill payment service accessible through Mid-Central National Bank’s online banking service. Refer also to the full text of the Agreement preceding this Addendum.
- Payment Accounts: If you have been approved for and enrolled in the optional bill payment service, you may use Mid-Central National Bank online banking to initiate payments from any Deposit Account that is a checking account with unlimited check-writing privileges (a “Payment Account”) to pay obligations owed to certain third parties in the United States. These types of transactions are referred to in this Agreement as “bill payments”. You may initiate individual bill payments and may pre-authorize recurring bill payments.
- Authorization: You agree that we may treat any bill payment that was initiated though Mid-Central National Bank online banking by you or by any other person who is authorized to use your Password the same as your duly executed written payment order or check, all in accordance with the terms of this Agreement and your deposit agreement with us.
- Time of bill payments: Each bill payment must be initiated a certain number of business days before the business day that you want the bill payment to be made (the “Payment Date”). This number of business day is referred to as the “lead time”. The first time you initiate a bill payment for a specific payee, the lead time will be 10 business days. Thereafter, the lead time for the payee will be 4 business days for electronic payments and 10 business days by check, as noted on your online payee list. If you initiate a bill payment before 5 P.M. Central Time on a business day, the bill payment will be deemed initiated on the next business day. If you initiate a bill payment on a non business day (for example, on a Saturday, Sunday or holiday) the bill payment will be deemed initiated on the second business day. You should schedule each bill payment to be made prior to the due date of the bill payment. If you do not schedule a bill payment on time or if you do not otherwise initiate a bill payment properly, you will be solely responsible for any late charges, finances charges, or other costs resulting from failure to make the bill payment on time. You will be solely responsible for all inputting errors.
- Checks: If the payee cannot or will not accept a bill payment by electronic fund transfer from the Service Provider, a check will be drawn on the Payment Account for payment to the payee. The check will be signed by the Bank or its representative, and will not be signed by you; however, you agree that any check issued in this manner to make a bill payment initiated in accordance with this Section will be deemed authorized and may be paid by the Bank from the Payment Account.
- Returned or rejected bill payments: If a bill payment is returned or rejected, whether by the Bank, the Service Provider or any third party (including, without limitation, an intermediary bank or the payee’s bank), then either the Bank or the Service Provider will notify you and you will be solely responsible for re-initiating the bill payment. You agree to furnish to the Bank and/or the Service Provider such information as it may request to resolve any error or inquiry arising out of your initiation of any bill payment(s).
- Cancellation or stop payment of bill payments; revocation of authorization: You may review, change or cancel bill payments online without an additional charge until 5 P.M. Central Time on the business day before the Processing Date by following the instructions in the Software. The Processing Date is the Payment Date minus the lead time described in paragraph 3 of this Section. You may revoke your authorization for future recurring bill payments by deleting the bill payment instructions, as provided in the Software, or by canceling the bill payment service.
- Inconsistent name and number appearing in a bill payment order: If a bill payment initiated by you describes the intended recipient of funds inconsistently by name and account number, you agree that payment by the receiving bank (which may be the Bank) may be made on the basis of the account number alone even if that account is not owned by the person named in the bill payment. If a bill payment identifies an intermediary bank or the payee’s bank inconsistently by name and identifying number, you agree that we may rely solely on the number as the proper identification of the intermediary bank or the payee’s bank even if it identifies a bank different from the bank identified by name. To the extent permitted by applicable law, you acknowledge and agree that your obligation to pay us the amount of the bill payment will not be excused in any circumstance described above and that you will reimburse us for any losses or expenses we incur as a result of our reliance of the identifying number provided in the bill payment.
SIGNATURES: By enrolling, you acknowledge that you have read and accepted the terms and conditions of this Bill Payment Addendum and agrees to be bound by its terms. Absent a signature, by Mid-Central National Bank’s delivery of and the customer’s acceptance of a Password for the Bill Payment service as evidenced by the customer’s use of the bill payment service, the customer acknowledges and accepts the terms and conditions of this Addendum and agrees to be bound by its terms.
All transaction(s) must be submitted to Mid-Central National Bank by the cut off times noted below to allow processing on the Effective Entry date:
E-Mail Messages 5:00pm
24 hours maximum response time (no later than next business day)
Stop Payments 2:00pm
SAME banking day processing
Account Transfers and Loan Payments 5:30pm
SAME banking day processing
“Business Day” is a day the Bank is open to the public for carrying on substantially all of its business (other than Saturday, Sunday, or listed Holiday)
“Effective Date” must be a business day of the record will be processed on the first business day following the effective date.
Holiday Schedule (non-processing days)
New Year’s Day – January 1
Martin Luther King Jr. Day – Third Monday of January
President’s Day – Third Monday of February
Memorial Day – Last Monday of May
Independence Day – July 4
Labor Day – First Monday of September
Columbus Day – Second Monday of September
Veteran’s Day – November 11
Thanksgiving Day – Fourth Thursday of November
Christmas Day – December 25