Internet
Banking Agreement & Disclosure
Introduction
This Internet Banking Agreement and Disclosure governs your use of Internet
Banking. Throughout this web site the Agreement and Disclosure will be
referred to as "Agreement". By using Internet Banking, you agree
to all of the terms of this Agreement. Please read it carefully and keep
a copy for your records.
Definitions
You or Your - The person(s) subscribing to or using Internet Banking.
We, Us,
or Our - Refers to Farmers Deposit Bank and any agent,
independent contractor, designee, or assignee Farmers Deposit
Bank may involve in the provision of Internet Banking.
Business
Day - Any calendar day other than Saturday, Sunday, or
any holidays recognized by Farmers Deposit Bank. Bill payments
are processed on all business days that both the Federal
Reserve Bank and the US Postal System are operating and
open for business.
Business
Day Cut-Off- Farmers Deposit Bank primary banking offices
are located in Eminence, Ky and base our business day on
the Eastern Time zone. For posting purposes, the bank will
process all transactions completed by 4:30PM on that business
date. Transactions completed after 4:30PM, including transfers,
will be processed on the following business day.
Privacy
Statement – Farmers Deposit Bank understands how
important privacy is to our customers. We have taken steps
to insure your security and privacy for your personal and
financial dealings with the bank. Our customer privacy
statement can be obtained by clicking on the following
link – Privacy Statement.
About
Internet Banking
Farmers Deposit Bank’s Internet Banking consists of an online banking
web site that provides a complete array of financial services to its customers.
Farmers Deposit Bank allows customers to access their data with up to 2 months
of full statements and complete transaction detail.
The Internet
Banking system that is accessible by Farmers Deposit Bank’s
customers over the Internet currently consists of:
- Account
Inquiries, balances, rates, etc.
- Secure
Applications
- Up
to 2Months of Historical Transactions
- View
Detailed Transactions
- Transaction
Downloads
- Account
transfers
- Payments
to our loan accounts
For customers
who select Bill Payment, these additional functions are
available:
- One-time
Payments
- Fixed
Recurring Payments
- Occasional
Payments
- Variable
Recurring Payments
Log-On
Security
Security is very important to the Internet Banking system. At the time you
request the service, you will select a unique "Access ID" and then
choose a "passcode" that will be used to gain access to the system.
Prior to activation, the Internet Banking department will verify your identity
and authorization to information associated with the accounts that you requested
tied to the service.
To help
prevent unauthorized access and ensure the security of
your accounts, we will end your online session if we have
detected no activity for 15 minutes. This is to protect
you in case you accidentally leave your computer unattended
after you logged on. When you return to your computer,
you will be prompted to re-enter your passcode and your
session will continue where you left off.
Because
your passcode is used to access your accounts, you should
treat it as you would any other sensitive personal data.
You should carefully select a passcode that is hard to
guess. (The "passcode cracker will encourage you to
stay away from names, dates, and information that may easily
be guessed). Keep your passcode safe. Memorize your passcode
and never tell it to anyone. You may consider changing
your passcode occasionally, such as every 90 days. This
can be done at any time after you logged on from the "change
password" menu item.
Accounts
You may request to access any account that you are a signer or owner. If you
desire services that allow you to initiate payments or transfers from the
account, you will need the required withdrawal authority over the account
to be able to complete the transaction. By using the service, you agree
to maintain one or more 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 system. If the accounts added to the service are jointly
held or have multiple signers, you agree that access to the information
and all transactions initiated by the use of your Access Code and Passcode
are authorized unless we have been notified to cancel the service.
Cancellation
of Internet Banking
Your Internet Banking may be canceled at any time by Farmers Deposit Bank in
whole or part without prior notice due to insufficient funds in one of your
accounts or other circumstances that may create an unanticipated liability
to us. You will remain responsible for all transactions approved by the system
prior to the cancellation, and for any other fees associated with the service.
After cancellation, service may be reinstated once sufficient funds are available
in your accounts to cover any fees and other pending transfers or debits. In
order to reinstate services, you must call Internet Banking Service Support
listed below in the Errors and Questions section.
Balance
Inquiries, Bill Payments and Transfers Limitations
You may use Internet Banking to check the balance of your accounts and to transfer
funds among your accounts. According to Federal regulations, you may not make
more than six (6) pre-authorized or automatic transfers or bill payments from
your Money Market Deposit Account or Savings Account during a given monthly
statement period. There are no limits to the number of transfers or bill payments
from your Checking Accounts. Farmers Deposit Bank currently limits the bill-payment
service to only Checking Accounts.
Balances
shown in your accounts may include deposits subject to
verification by us. The balance may also differ from your
records due to deposits in progress, outstanding checks
or other withdrawals, payments or charges. A transfer request
may not result in immediate availability because of the
time required to process the request. If you have further
questions, contact your Internet Banking Coordinator.
The balances
are updated periodically and the system will display the
most current "as of" date on the "accounts" summary
page. There may be situations that cause a delay in an
update of your balances. The system will use the most current
balance available at the time of a transaction to base
our approval.
Bill
Payment Service
It is easy to pay bills online. Simply set up your Payees by choosing from
the database of vendors (Payees) that already exist, or by entering necessary
information to schedule a payment. We are able to process payments to payees
that have a US Postal address. We maintain a large vendor database of regional
or national billers to make this process quicker and easier. The Bill Payment
service will also allow you to see a history of all the payments made from
your accounts.
The daily
limit for the total dollars of payments approved is governed
by the system’s available balance in the checking
account selected for making the payment. You can withdraw
up to the system’s available balance as long as your
account shows sufficient funds to cover your payments.
The payment will normally be charged to your account on
the business date that it is approved.
At the current time we are not charging a fee for Internet Banking or bill payment online.
Although
payments may be scheduled for the current business day
or any date in the future at any time, they will only be
processed once a day at our cut-off time, usually around
2:00PM EST on any business day. (If you attempt to schedule
a payment for that day after 2:00PM, the system will notify
you that you need to change the date to the next business
day.) Anything scheduled on a non-business day, or after
the cut-off time, will not be sent out until the following
business day. Since we must forward the funds and billing
information to the payee, some lead-time for payments is
necessary. In general, the system will attempt to tell
you when you can expect the payment to be received by the
payee. The estimated payment arrival date is typically
shown on the check where you schedule the payment date
below the amount line. (Our system assumes the payee/vendor
will promptly process the payment on the business day it
is received. Any delays caused by the payee/vendor would
result in additional days before the payment would show
on their records.) By using this service, you authorize
us, and any third-party payment processing agent we may
use, to choose whatever method we feel is the most effective
method to process your transaction.
The time
frames generally will be determined by the way the payment
is sent to the payee. If we have to send a paper check
in the US Postal system, we typically suggest sufficient
time as five (5) business days prior to the payee receiving
the payment for processing at their address. If the payee
accepts the payment electronically, we generally define
sufficient time as two (2) business days prior to the payee
receiving the payment. In all cases, the payment will be
delivered to the payee/vendor by the tenth business day
after the payment was approved and charged to your account.
Our
Liability for Incomplete Transactions
It is our responsibility to process all bill payments properly initiated through
the Internet Banking system in accordance with this Agreement. We will be liable
for damages, as defined in this Agreement, where the system caused a payment
delay or failed to process a payment to be received by the payee/vendor by
the tenth business day following the date your account was charged for the
payment. Transfers will be processed within two business days of the completed
transfer transaction. We will not be liable if any of the following occurs:
- Funds
are not showing on the system’s available balance
in your account that is to pay for the bill or transfer
at the time of transaction.
- Funds
are subject to legal process or other encumbrances restricting
the payment or transfer.
- You
had knowledge of or questions about the possible malfunction
of the system when you initiated the transaction.
- Any
information provided by you about the Payee is incorrect.
- There
are any delays in the handling of the payment by the
Payees.
- Natural
disasters (fire, flood, tornado, etc.) or other uncontrollable
circumstances (mail delays, power failures, etc.) prevent
proper completion and delivery of transactions.
- Other
applicable laws and/or regulations exempt us from liability.
- It
can be shown that the merchant or payee received the
payment within the normal delivery timeframe and failed
to process the payment through no fault of Internet Banking
or our service providers.
- It
can be shown that the delay was caused by unusual mailing
delays by the US Post Office.
Payment
Guarantee
We will reimburse you up to $50 per payment for any late payment fees or penalties
you are charged as a result of the Payee/Vendor not receiving a payment by
the Due Date if all the following apply:
- You
scheduled the payment before the cut-off time on a transaction
date at least ten (10) business days prior to the Due
Date.
- Correct
information was provided to us about the Payee (name,
address, account number, and amount).
- Your
account contained sufficient available funds to complete
the payment or transaction on the transaction date.
- The
Payee was a Business Payee that charges late charges
or penalties.
- Late
payment fees or penalties were assessed by the Payee
due to the delay of this payment.
- You
received no prior notice from the Payee/Vendor that there
was a problem with processing payments from our system.
- You
received no notice within the ten business day period
that would have allowed you to alert our Internet Banking
department of a problem where we could have taken corrective
action to remedy the situation prior to the tenth day.
Notice
of Your Rights and Liabilities
Notify us immediately if your Access ID and Passcode have been compromised,
lost, stolen or used without your authorization. Failure to notify us immediately
could result in the loss of all money accessible by the passcode. Telephoning
us at the number listed below in the Errors and Questions section is the best
way of limiting your possible loss. You could lose all the money in your account
(plus your maximum overdraft line of credit, if you have one).
If we
are notified within two (2) business days after you discover
that your Access ID and Passcode has been compromised,
lost or stolen, you can lose no more than $50 if someone
used it without your permission. If you do not notify us
within two (2) business days, and we can prove we could
have prevented someone from using the Access ID and Passcode
without your permission, you could lose as much as $500.
If your
statement shows unauthorized transfers, notify us within
60 days after the statement is mailed to you or viewed
on your computer. After 60 days, if we can prove that we
could have stopped someone from taking the money if we
had been told, you may not get back any money from us.
If a good reason, (such as a long trip or hospital stay)
kept you from telling us, we may extend the time periods
to a reasonable time.
Errors
and Questions
In cases of errors or questions concerning transactions completed with Internet
Banking, do one of the following, as soon as possible:
- Telephone
Internet Banking Service Support at (502) 845-5639 or
- Write
to Customer Service at PO Box 126, Eminence, Ky 40019;
or
- Initiate
a payment inquiry on your PC through e-mail to customerservice@farmersdepositbank.com
We must
hear from you within 60 days after you receive the first
statement or notification in which the error or problem
appeared. Please include the following information:
- Name
- Account
Number and your Access ID
- Description
of the error or what you are unsure about, plus an explanation
of why you believe it is an error or why you need more
information.
- Tell
us the amount of the error.
- For
a Bill Payer error tell us:
- Checking
account number used to pay the bill
- Payee
name
- Date
the payment sent
- Confirmation
number
- Payment
amount
- Payee
account number for the payment in question.
We will
tell you the results of our investigation within ten (10)
business days after we hear from you (20 business days
if the transaction involved a new account). If we need
more time we may take up to 45 business days to investigate
(90 business days if the transaction involved a new account).
If we choose to take up to 45 business days, we will give
you a provisional credit to your account within ten (10)
business days (20 business days if the transaction involved
a new account). Your account is considered a new account
for the first 30 days after the first deposit is made,
unless each of you already has an established account with
us before this account is opened. If we decide there was
no error, we will furnish you with a written explanation
within three (3) business days after the investigation
is complete.
Disclosure
of Account Information to Third Parties
Information to third parties about your account(s) or the transaction(s) you
make will only be disclosed if at least one of the following applies:
- It
is necessary to complete a transaction.
- To
verify the existence and condition of your account to
a third party such as a credit bureau or merchant.
- To
comply with a governmental agency or court order.
- If
permission is given to us by you, which we may require
to be in writing.
- To
collect information for internal use, the use of our
service providers, and our servicing agents and contractors
concerning our electronic funds transfer service.
- It
involves a claim by or against us concerning a deposit
to or withdrawal from your account.
- Where
otherwise required or permitted under state or federal
laws and/or regulations.
No
Signature Requirements
When any payment or other on-line service generates items to be charged to
your account, you agree that we may debit the designated account, or the account
on which the item is drawn, without requiring your signature on the item and
without any notice to you.
Virus
Protection
Farmers Deposit Bank is not responsible for any electronic virus or viruses
that you may encounter. We encourage our customers to routinely scan their
PC and diskettes using a reliable virus product to detect and remove any viruses.
Undetected or unrepaired viruses may corrupt and destroy your programs, files
and even your hardware. Additionally, you may unintentionally transmit the
virus to other computers.
Termination
You may terminate the use of Internet Banking by contacting Farmers Deposit
Bank in writing by mail, e-mail, or personal delivery Farmers Deposit Bank.
If your account is closed or restricted for any reason, Internet Banking
accessibility will automatically terminate.
Governing
Law
This Agreement shall be governed by and construed in accordance with the laws
of the State of Kentucky.
Assignment
This agreement may not be assigned to any other party by you. We may assign
or delegate, in part or whole, to any third party.
Amendments
Terms and conditions of this agreement may be amended in whole or part at any
time within 30 days written notification prior to the change taking effect.
If you do not agree with the change(s), you must notify us in writing prior
to the effective date to cancel your access. Amendments or changes to term(s)
or condition(s) may be made without prior notice if it does not result
in higher fees, more restrictive service use, or increased liability to
you.
Entire
Agreement
This Agreement supplements any other agreements or disclosures related to your
account(s), including the Deposit Account Agreement and Disclosures. If there
is a conflict between this Agreement and any others, or any statements made
by employees or agents, this agreement shall supersede.
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