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 Peoples Bank using services described below or future services offered by Peoples 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.
As used in this Agreement, the word(s):
- "we", "our" and "us" mean Peoplesbank;
- "you" and "your" mean the account holder authorized by Peoples 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 Peoples Bank;
- "electronic fund transfers" mean ATM withdrawals, pre-authorized transactions, point of sale transactions and transfers and transfers to and from your accounts at Peoplesbank 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 Peoplesbank, 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. Peoples 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.
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. Not withstanding 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.
When you instruct Peoplesbank to transfer funds to or from your accounts through Online Banking, you are authorizing Peoplesbank 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 U.S. mail. If advance notice of the change is not required, and disclosure does not jeopardize the security of the account or our electronic fund transfer system, you will not be notified of the change in terms. We reserve the right to waive, reduce or reverse charges or fees in individual situations. You acknowledge and agree that changes to fees applicable to specific accounts are governed by the applicable deposit agreements and disclosures.
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 U.S. mail or fax within ten business days. We will communicate the results of our investigation to you within ten business days after you contact us and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within ten business days for the amount you think is in error, so that you will have use of the funds during the time it takes us to complete our investigation. If we ask that you put your complaint or question in writing and we do not receive it in the form of paper written within the ten business days, we may not provisionally credit your account. If we decide that there was no error, we will send you written explanation within three business days after the completion of our investigation. You may request copies of the documents used in our investigation. If we have made a provisional credit, a corresponding debit will be made from your account.
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.
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 Peoplesbank, 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 Peoplesbank, 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 Peoples Bank. You may cancel Online Banking at any time by written request forwarded via U.S. mail or face-to-face delivery to Peoples Bank at 445 S. Lewis Ave. Tulsa, OK. 74104. Peoples 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 "Accept" button, I agree that I have read and completely understand the above Online Banking Agreement and Disclosure Statement.