The first time you access your accounts through Online Banking, you agree to be bound by the terms and conditions of this Online Banking Agreement ("Agreement") and acknowledge its receipt and your understanding of its terms.
This Agreement explains the terms and conditions for accessing accounts and conducting transactions at Premier Business Bank and Premier Bank of Palos Verdes, a division of Premier Business Bank ("Bank", ''we", "us" and "our'') via our Online Banking Site(s) ("Online Banking"). As used in this Agreement, the terms "you" and "your" refer to each person who completes our Online Banking enrollment.
Benefits of Online Banking
Through Online Banking, you can manage eligible accounts from your home or office on a personal computer. Online Banking can be used to conduct any of the following "Services":
- Obtain balances and transaction histories on all eligible accounts enrolled in Online Banking
- Transfer money between eligible linked accounts on a one time or recurring basis
- Transfer money to pay Bank for overdraft protection or other eligible loans
- Transfer money to another account at another Financial Institution
- Pay bills to any merchant, bank or an individual with a U.S. address
- Download transactions to several software programs
- Reorder checks
- Place a stop payment for checks only
- Set up Alert notifications
- Send secure messages to the Bank
The Bank may, from time to time, introduce new Services. By using those Services when they become available, you agree to be bound by the terms contained in this Agreement, and its subsequent amendments.
What Information Do We Collect and How Do We Use It
When applying to use our Online Banking Site, you are required to provide your name, street address, telephone number, email address, date of birth and a Tax Identification Number. During the enrollment process, you will be asked to create a Username and password to access Online Banking. This information allows us to keep a user profile so that we may provide you access to the Services and provide a faster method for you to submit and receive information to and from us.
We may also collect general information in connection with your use of our Site, for example, the length of time you spend on our Site, what pages on our Site you visit most frequently, how often you visit our Site, what kind of browser software you are using, and your domain name, if applicable. If you communicate with us by email, we may collect your email address and any other information contained in the email. Since email transmissions may be subject to interception, please do not include sensitive or personal information in any email you send us. You may use the Customer Service tab once logged in to Online Banking to send secure emails.
Information is collected for the purpose of processing your enrollment, transaction or request for information and verifying your identity. The information will be used for the purpose of meeting you’re banking needs and requests, and providing services to you in the future.
The Bank does not share customer information with third parties, except as permitted by law. The Bank limits employee access to confidential information and maintains accurate and up-to-date customer records. If you do not want your personal information collected, you may refrain from supplying the information, whether through email or our Site. Refer to the Bank’s Privacy Notice located on our website.
Keeping your account information up-to-date is very important. You may review, or update certain account information by logging in and accessing the My Profile tab. If you cannot change the incorrect information online, or you prefer to request changes directly with the Bank, please use the Customer Service tab on our Site or call or write to us using the contact information listed on your account statements, bank records or the branch information listed on the Contact Us tab on our Site.
To inform the Bank about potential misuse of personal information within Online Banking, please contact the Bank immediately using our contact information on our Contact Us tab or refer to our Security Center tab located on the Home Page of our Site.
Security & Protecting Your Account
We are strongly committed to protecting the security and confidentiality of our customer accounts and information. We use several techniques to help secure our Online Banking service, including the following:
- You can only access Online Banking with certain browsers that have a high security standard
- Your account numbers are never displayed in full - only the last 4 digits can be viewed
- You must have a valid Online Banking Username and password to logon
- If no action is taken for 5 minutes, you will be automatically logged off the Online Banking service
To provide greater protection to our customers from fraudulent online access, the Bank uses an Out-of-Band Authentication security solution. The Out-of-Band solution not only confirms user identity but also conducts device profiling to mitigate against current and emerging fraud trends. Out-of-Band Authentication occurs outside the Online Banking channel through either an automated voice call or text message.
Users who enroll for the first time will be prompted to use Out-of-Band Authentication and when forgetting passwords. Users will be prompted to select a call or text message from a list of numbers in telephone number format (only the last four digits will be displayed). These numbers must match to what is currently in the Bank’s database. Once the User selects a phone or text number, they will receive a call or text and prompted to enter a One-time Security Code. If accurate, the User will continue with the log on procedures. If not correct, the User may try again or contact their local branch office.
When a customer enters their Username into Online Banking, their device and network path are profiled to detect indicators of fraudulent activity. Rather than registering a User’s device, Out-of-Band Authentication profiles a User’s device each time they log in. When a User logs in from a different device, our Online Banking system will recognize that the device is not typical and requires Out-of-Band Authentication.
You may use a personal computer, tablet or mobile phone to log onto Online Banking. To access Online Banking you must have a compatible web browser and 128 bit data encryption. You must also create a Username and password. Each time you access Online Banking, you will be asked to enter your Username and Password. The correct responses will give you access.
You must also maintain one or more of the following eligible accounts at the Bank:
- Personal Checking Account (includes a DBA account)
- Personal Money Market
- Personal Savings Account
- Certificate of Deposit
Business Accounts - If you are a business customer with an Employer Identification Number, and request Online Banking, you must enroll in Cash Management Services. Contact your local branch office or your Banking Representative for additional information.
Your password will give you access to your Bank accounts via Online Banking. The Bank is entitled to act on any instructions it receives using your password. For security purposes, it is recommended that you memorize your password and do not write it down. We also recommend that you change your password regularly to try and avoid misappropriation by a third party. Your password can be changed at our Online Banking site. You are responsible for keeping your password and account data confidential. When you give someone your password, you are authorizing that person to use Online Banking and its Services. You are responsible for all transactions performed using your password, even if you did not intend or authorize them. In addition, fraudulent transactions initiated using your password will be charged against your account(s).
You can usually access Services seven (7) days a week, twenty-four (24) hours a day. However, at certain times, some or all of Online Banking or Services may not be available due to system maintenance or reasons beyond the Bank's control. Bank does not warrant that Online Banking and/or its Services will be available at all times. When unavailable, you may use an automated teller machine ("ATM") or call our office to conduct your transactions. Online Services and transactions initiated prior to 6:00 p.m. PST on a banking day is posted to your account the same day.
Fees and Charges
There is currently no charge for the use of the Online Banking described in this Agreement. There may be charges to use other Services. Refer to the Bank’s Schedule of Fees for additional information.
You may not appropriate any information or material that violates any copyright, trademark or other proprietary or intellectual property rights of any person or entity while using the Online Banking or Services. You may not gain, or attempt to gain, access to any Online Banking and/or Services, server, network or data not specifically permitted to you by Bank or its suppliers, and you must not include any obscene, libelous, scandalous or defamatory content in any communications with Bank or its suppliers.
Inactive or Dormant Accounts
If your account becomes inactive or dormant, we may restrict access to Online Banking.
Neither Bank nor its suppliers will be liable for any transaction if: (i) you do not have enough money in your account to complete the transaction; (ii) a legal order to prohibit withdrawals from your account; (iii) your account is closed or has been frozen; (iv) the transaction would cause your balance to go over the credit limit for any credit arrangement set up to cover overdrafts; (v) you, or anyone you allow commits fraud or violates any law or regulation in connection with Online Banking or its Services; (vi) any electronic terminal, telecommunication device or part of the electronic fund transfer system is not working properly; (vii) you did not provide us with complete and correct payment or transfer information; (viii) you did not properly follow the instructions for use of Online Banking or its Services; (ix) you knew that Online Banking and/or its Services were not operating properly at the time you initiated the transaction or payment; (x) there is postal delay; (xi) circumstances beyond our control (such as fire, flood or improper transmission or handling by a third party) that prevent, hinder or delay the transaction.
You should notify us immediately if you believe anyone has improperly obtained your password or if you suspect any fraudulent activity in your account(s). If your password has been compromised and you tell us within two (2) business days of discovering the loss or misappropriation, you can lose no more than $50. If you do not tell us within the two (2) business day period, you could lose as much as $500 if we could have stopped the use of your accounts had we received notice in a timely manner. You should contact us or the bill payment provider, as applicable, as soon as you identify any errors or discrepancies in your statement or transaction record, or if you need any information about a transaction listed on the statement or transaction record. We must hear from you no later than sixty (60) days after we have sent the first statement on which the problem or error appeared (If you notify us verbally, we may require that you send us your complaint or question in writing or electronically within ten (10) business days). If you fail to notify us within the sixty (60) day period, you may not recover any of the money you lost if we can establish that the loss could have been avoided had you notified us on time. We may extend these time periods for good reasons such as out-of-town travel or extended hospital stays.
When you report a problem or discrepancy, please: (i) tell us your name and account number; (ii) describe the error or the transaction you are unsure about, and explain why you believe it is in error or what additional information you need; (iii) tell us the dollar amount of any suspected error; and (iv) for a bill payment, tell us the number of the account used to pay the bill, the applicable payee name and account number, the date the payment was sent, the payment amount and the payment reference number. Generally speaking, we will tell you the results of our investigation within ten (10) business days, or twenty (20) business days in the case of point of sale or international transactions, after we hear from you. However, we may take up to forty-five (45) days, or ninety (90) days in the case of point of sale or international transactions, to investigate your complaint or question. In this case, we may provisionally credit your account so that you have use of the money during the time it takes us to complete our investigation. If you fail to provide your complaint or question in writing within ten (10) business days of a request from us to do so, we reserve the right to not credit your account. If we confirm an error, we will correct your account record within ten (10) business days, or twenty (20) business days in the case of point of sale or international transaction. If we determine that there was no error, we will send you a written explanation within three (3) business days after we conclude our investigation and will debit any interim amounts credited to your account. You may request copies of any documents that we use in our investigation.
Electronic Mail (email)
Sending email is a very good way to communicate with the Bank regarding your accounts or Services. However, your email is actually sent via your own software and, as a result, may not be secure. Because of this, you should not include confidential information, such as account numbers and balances in any email to the Bank. You cannot use email to initiate Online Banking or utilize its Services. All such transactions must be initiated using the appropriate functions within the Online Banking Site. The Bank will not be liable for any errors, omissions, claims, or problems of any kind involving your email.
Links to other Sites
We provide links on our website to other Internet sites and resources. Accessing these links means you are leaving our website and going to the website of a third party not related to Premier Business Bank. We do not control third party sites and resources and are not responsible for their availability, content or delivery of service. Other sites and resources may have different security and privacy policies than ours.
The Bank is not responsible for any electronic virus that you may encounter using Online Banking or its Services. We encourage you to routinely scan your computer using reliable virus protection product to detect and remove viruses. If undetected and unrepaired, a virus can corrupt and destroy your programs, files and hardware.
Amendment and Termination
The Bank has the right to change this Agreement at any time by notice mailed to you at the last address shown for the Account on the Bank's records, by posting notice in branches of the Bank, or as otherwise permitted by law.
The Bank has the right to terminate this Agreement at any time. You may terminate this Agreement by written notice to the Bank. The Bank is not responsible for any fixed payment made before the Bank has a reasonable opportunity to act on your termination notice. You remain obligated for any payments made by the Bank on your behalf.
Damages and Warranties
In addition to the terms previously disclosed, the Bank is not responsible for any losses, errors, injuries, expenses, claims, attorney's fees, interest or other damages, whether direct, indirect. Special, punitive, incidental or consequential, (collectively, "Losses") caused by Online Banking or the use of Services or in any way arising out of the installation, use or maintenance of your personal computer hardware or software, including any software provided by Bank or one of its suppliers. In addition, Bank disclaims any responsibility for any electronic virus(es) Customer may encounter after installation of such software or use of Online Banking or Services. Without limiting the foregoing, neither Bank nor its suppliers shall be liable for any: (i) failure to perform or any Losses arising out of an event or condition beyond their reasonable control, including but not limited to communications breakdown or interruption, acts of God or labor disputes; or (ii) the loss, confidentiality or security of any data while in transit via the Internet, communication lines, postal system or ACH network. Bank and its suppliers provide Online Banking and Services from their own sites and they make no representation or warranty that any information, material or functions included in Online Banking or Services are appropriate for use by you in your jurisdiction. If you choose to use Online Banking and/or the Services, you do so on your own initiative and are solely responsible for compliance with applicable local laws and regulations. Neither Bank nor its suppliers warrant the adequacy, accuracy or completeness of any information provided as a part of Online Banking or Services, or contained in any third party sites linked to or from Bank's website. BANK MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY, FUNCTIONALITY OR PERFORMANCE OF ONLINE BANKING, SERVICES, OR ANY SOFTWARE THAT MAY BE USED IN CONNECTION WITH SAME. BANK DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR ERROR-FREE OPERATION.
Customer shall indemnify, defend and hold harmless Bank and its officers, employees, directors, suppliers and agents, in their individual capacities or otherwise, from and against any Losses arising out of: (i) Customer's negligence; (ii) Customer's failure to comply with applicable law; or (iii) Customer's failure to comply with the terms of this Agreement.
Due to the likelihood of irreparable injury, Bank shall be entitled to an injunction prohibiting any breach of this Agreement by Customer.
Applicable Rules, Laws, and Regulations
You submit to the jurisdiction of, and this Agreement shall be governed by the laws of, the State of California, U.S.A., as well as the federal laws of the U.S.A. Venue for any action arising out of this Agreement shall be in a state court of competent jurisdiction covering Los Angeles County, California, U.S.A. The prevailing party in any such action shall be entitled to the recovery of its reasonable attorney's fees, costs, and expenses.
Bank may assign its rights and/or delegate all or a portion of its duties under this Agreement to a third party.
If there is a conflict between the terms and conditions of this Agreement and one or more terms contained in another agreement between you and the Bank, this Agreement will control.
Bank shall not, by the mere lapse of time, without giving notice or taking other action, be deemed to have waived any of its rights under this Agreement. No waiver by Bank of a breach of this Agreement shall constitute a waiver of any prior or subsequent breach of this Agreement.
Neither party shall be liable for any loss nor damage due to causes beyond its control, including fire, explosion, lightning, pest damage, power surges or failures, strikes or labor disputes, water, acts of God, the elements, war, civil disturbances, acts of civil or military authorities or the public enemy, inability to secure raw materials, transportation facilities, fuel or energy shortages, acts or omissions of communications carriers, or other causes beyond that party's control. Either party may terminate this Agreement immediately on written notice if the other party is prevented from performing its obligations under this Agreement for a period of more than thirty (30) days due to the reasons set forth in this subsection.
Online Banking Alerts
Online Banking Alerts are a valuable tool. We use Alerts to communicate important information to you and we allow you to use Alerts as a tool to manage your accounts and activity.
Premier’s General & Security Alerts – these are alerts sent to you from the Bank to update or inform you on important Online Banking activities or when certain changes are made that impact Online Banking or any of its Services. Rather than, or in addition to sending you an Alert, we may choose to post a Message regarding important Online Banking information during the Login process.
Account Alerts – these are tools to manage your accounts and activities. Account Alerts allow you to choose optional alert messages for your accounts for notification regarding particular activity. Such alerts include:
- Balance Alerts – alerts to when balances equal, exceed or fall below certain dollars
- Account Transfer Alerts – alerts to when transfers are completed, changed or failed
- Activity Alerts – alerts to when certain account activity occurs or profile information is changed
- Maturity Alerts – alerts to days in advance when an account matures
- Next Payment Due – alerts to days in advance when a payment is due
- Stop Pay Alerts – alerts to stop payment results (checks only)
You do not need to activate Account Alerts. Although Premier does not charge for Account Alerts, text or data charges or rates may be imposed by your carrier. Account Alerts are sent to your primary email address only and provide you with important account notifications, such as information about a money transfer or availability of an eStatement. We may add new Alerts from time to time, or cancel old alerts. We usually notify you when we cancel alerts, but are not obligated to do so.
We do our best to provide alerts in a timely manner with accurate information, but alerts may be delayed or prevented by a variety of factors beyond our control (such as system failures or misdirected delivery). We do not guarantee the delivery or accuracy of alerts. The contents of an alert may be outdated by the time an alert is sent or received, due to other activity on your account or to delays in sending data among various systems. You agree that we are not liable for any delays, failure to deliver, or misdirected delivery of any alert; for any errors in the content of an alert or for any actions taken or not taken by you or a third party as the result of an alert.
Because alerts are not encrypted, we will never include your password or full account number. However, alerts may include your name and some information about your accounts. Depending upon the type of alert, information such as your account balance, transaction information or the due date for your loan payment may be included. Anyone with access to your alerts will be able to view the contents of these messages.
Transfers (does not apply to transfers outside Premier Business Bank)
Transfers can be made in 2 ways; on a one-time or recurring basis. One-time transfers may be immediate or scheduled for a future date. The recurring transfer feature may be used when a set amount is transferred at regular intervals. For example, a $100 transfer from a checking to a savings account which occurs every 2 weeks.
- Either one-time or recurring transfers can be made from any eligible linked Premier account that allows deposits and withdrawals.
- Recurring transfers scheduled on a non-bank business day will be processed the prior business day.
- Transfers made prior to 6:00 pm PST on any business day, will be processed as same day. All other transfers will be processed the following business day.
- Both one-time and recurring transfers between linked Premier accounts can be for any amount provided funds are available from the debiting account.
- Funds transferred as a payment to a loan account before 6:00 p.m. PST will be credited with the date the payment is submitted. Transfer payments submitted after 6:00 p.m. PST will be credited with the next business day's date.
We do not limit the number of funds transfers you may make; however, you may not make funds transfers in excess of the number of funds transfers allowed by the rules and regulations governing your applicable account(s). In addition, if a hold is placed on any funds deposited in an eligible account, you may not transfer the portion of funds being held until that hold expires.
External Transfers (transfers to accounts at other Financial Institutions)
This Service allows you to send money using an eligible Premier account to transfer funds to an account at another Financial Institution within the United States. This Service does not allow you to request or receive money from an accountholder at another Financial Institution. We reserve the right to suspend or terminate your use of the Service if we believe that you are using the Service for any unlawful purpose.
Transfers relating to external accounts and the transmission and issuance of data related to such instructions shall be received pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association ("NACHA") and the applicable automated clearing house ("Regional ACH") (collectively, the "Rules") and you and we agree to be bound by such Rules as in effect from time to time.
Money sent to an accountholder at another Financial Institution is at your initiation. You understand that use of this Service by you shall at all times be subject to (i) this Agreement, and (ii) your express authorization at the time of the transaction for us to initiate a debit entry to your Bank account. You understand that when you send the funds, you will have no ability to stop it.
In order to send money to an accountholder at another Financial Institution, you are required to provide account information from the other accountholder. You must provide a valid account number, ABA/routing number of the Financial Institution where the funds will be sent and a customer name. Neither the Bank nor the receiving Financial Institution may execute your transfer instructions by reference to the account number only, even if the account number does not correspond to the name. You agree that neither we nor the receiving Financial Institution will have responsibility to investigate discrepancies between names and account numbers.
When sending money for the first time to any accountholder at another Financial Institution, External Transfers require a two-step process. The first step includes setting up your recipient’s receiving account information and the sending and verification of two required micro deposits or “test” deposits. The second step is completed when the User, upon verification from the recipient that the test deposits were successful, creates an actual transfer including the dollar amount. The External Transfer can only be processed upon selecting the Verify button. External Transfers requiring a test deposit cannot occur the same day.
The test deposits will be random amounts between $.01 and $.99. These amounts will not be debited from your account or credited to the recipient’s account. These tests are to protect you ensuring the intended recipient’s information was input correctly. It is strongly recommended that only after the recipient verifies the test deposit, that you click the Verify tab for your External Transfer to be completed. External Transfers may take up to two (2) business days to be received depending on the time the External Transfer is submitted to the Bank.
External Transfers must be submitted no later than 3:00 p.m. PST to be processed within two (2) business days after a successful test has been Verified. For example, when sending a new External Transfer you submit a test deposit on Monday before 3:00 p.m. PST and the recipient is able to verify its success to you as soon as it is received the next business day [Tuesday], you can then Verify and create your External Transfer. Submissions of funds before 3:00 p.m. PST should be received no later than Thursday. For this example, if the External Transfer was not a first time transfer and did not require the test deposit, the recipient should receive the deposit no later than Wednesday.
External Transfers may not total more than $1,000 during any 24-hour period or $2,500 during any 7-day period. External Transfers cannot be set up as a recurring transfer. When you use External Transfer Services, you must have sufficient funds available in the selected deposit account to cover the amount of the transfers. If your debiting account does not have sufficient available funds, the transfer may not be completed. We are under no obligation to notify you if we do not complete a transfer because there are insufficient funds in your account to process a transaction. In all cases, it is your responsibility to remake and resubmit such transfers, or otherwise resolve the rejection or return.
At our discretion we may refuse to process any transaction that exceeds the above limits. In this case, you are responsible for making alternate arrangements or rescheduling the payment or transfer within Online Banking.
The money may also be delayed or the transfer may be blocked to prevent fraud or comply with regulatory requirements. We will notify you if we delay or block a payment that you have initiated using the Service for these reasons.
We have no control over the actions of your intended recipients or other Financial Institutions that could delay or prevent your money from being delivered.
Liability: Except as otherwise provided in this Agreement, the Bank does not have liability to you for any transfers of money under the Service, including without limitation, (i) any failure, through no fault of us to complete a transaction in the correct amount, or (ii) any related losses or damages. The Bank shall not be liable for any incorrect information or keystroke errors that you may make when using the Service.
YOU AGREE THAT YOU, NOT THE BANK, ARE RESPONSIBLE FOR RESOLVING ANY PAYMENT OR OTHER DISPUTES THAT YOU HAVE WITH ANY OTHER RECIPIENT WITH WHOM YOU SEND MONEY TO USING THE SERVICE.
We reserve the right, but assume no obligation, to terminate your ability to send requests for money in general, or to specific recipients, if we deem such requests to be potentially unlawful, abusive, and offensive or unwelcome by the recipient.
Disclaimer of Warranties: EXCEPT AS OTHERWISE PROVIDED HEREIN, AND SUBJECT TO APPLICABLE LAW, THE BANK DOES NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES, REPRESENTATIONS OR ENDORSEMENTS WHATSOEVER WITH RESPECT TO THE SERVICE. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT, WITH REGARD TO THE SERVICE DESCRIBED OR PROVIDED. THE BANK DOES NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED.
A one-time internal transfer cannot be cancelled after it is processed. Recurring transfers can be cancelled as late as one (1) business day no later than 6:00 p.m. PST prior to the date the transfer is scheduled to be made. If the transfer's status is In Process or Processed, you can no longer cancel it. After you cancel a future-dated transfer, the status changes to Cancelled.
An External Transfer to an accountholder at another Financial Institution cannot be cancelled or stopped after it has been submitted in Online Banking. Recipient information can be deleted once Verified.
Refer to the Bank’s Schedule of Fees for any charges related to Transfers, External Transfers, Stop Payment fees, fees related to NSF charges and Overdraft charges.
Bill Payment Services
This is your Bill Payment agreement with Premier Business Bank. You may use the Bank's Bill Payment service to direct the Bank to make payments from your designated checking (account) to Merchants or payees you choose within the United States and in accordance with this agreement. The terms and conditions of this Agreement are in addition to the Account agreements received at the time you opened your account(s).
"You" or "your" means each person who agrees when enrolling in Bill Payment service is otherwise authorized to use the Service.
Fees - Bill Payment Service is subject to the Bank’s current Schedule of Fees.
How to Set Up Payees/Payments
When you sign onto the Bill Payment system you will establish your list of Payees by selecting the Add button on the Set up Accounts and Payee screen. You may add a new fixed payment for any Payee but only if they are on your authorized list of payees. If the Payee is not set up for electronic payments, the service will generate a paper check for payment. The check will carry your account number and will clear directly through your account. A unique check number will appear on your statement for easy recognition. The Bank reserves the right to refuse the designation of a Payee for any reason.
Some Bill Payments are processed by Electronic Fund Transfers (EFT). When you attempt to schedule a payment and the payment is sent as an EFT, we will inform you of the earliest available delivery date based on your selected send on date. Please see the Unauthorized Transaction section in this Agreement or received when you opened your account, which discloses important information concerning your rights and obligations.
The Bank is not responsible if a Bill Payment cannot be made due to incomplete, incorrect, or outdated information provided by you regarding a Merchant or if you attempt to pay a Payee that is not on your Authorized Payee list.
The Bill Paying Process
The Bank will process variable payments on the business day (Monday through Friday, except holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Bank, which is currently 1:00 p.m. PST. Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. The Bank reserves its right to change the cut-off time by giving you notice if it changes.
For recurring payment requests, if you designate a processing date of the 28th through the 31st of a month, you must select the option of "last business day" for processing to be always initiated on the last calendar day of the month. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non-business day resulting in your payment being processed on the next business day.
You must allow at least five (5) business days, prior to the due date, for each bill payment (recurring or variable) to reach the payee/merchant. It is the responsibility of the subscriber to schedule/activate recurring payments. Due to circumstances beyond our control, some Merchants take longer to post payments than others. We suggest sending your first payment eight (8) business days in advance of the Due Date. After your first payment has posted you will have a better understanding of how much time to allow for each Payee. You must select a Payment Date that is at least five (5) business days before the actual Due Date reflected on your Payee statement. If your actual Due Date falls on a non-business day you must select a Payment Date that is at least one business day before the actual Due Date. Payment Dates should be prior to any late date or grace period.
When you have scheduled a payment, you authorize the Bank to debit your Payment Account and remit funds on your behalf. You certify that your Payment Account is an account from which you are authorized to make payments and any payment you make will be debited from this account. You also authorize the credit of returned payments from using the Bill Pay Service.
The Bill Payment Service will incur no liability and a Service Guarantee shall be void if the Bill Payment Service is unable to complete any payments initiated for any of the following:
- You have not provided the Bill Payment Service with the correct payment account information, or the correct name, address, phone number, or account information for the Payee upon initiation of the payment;
- Circumstances beyond the control of the Bill Payment Service (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Bill Pay Service has taken reasonable precautions to avoid those circumstances; and/or
- The payment-processing center is not working properly and you know or have been advised by the Bill Payment Service about the malfunction before you execute the transaction.
You agree to have available and collected funds on deposit in the account you designate in amounts sufficient to pay for all Bill Payments requested, as well as, any other payment obligations you have to the Bank. The Bank reserves the right, without liability, to reject or reverse a Bill Payment if you fail to comply with this requirement or any other terms of this agreement. If you do not have sufficient funds in the Account and the Bank has not exercised its right to reverse or reject a Bill Payment, you agree to pay for such payment obligations on demand. You further agree the Bank, at its option, may charge any of your accounts with the Bank to cover such payment obligations.
The Bill Payment Service reserves the right to select the method in which to remit funds on your behalf to your Payee; either by check or ACH.
Bill payments can be sent for any amount between $0.01 and $9,999.99 per day not to exceed an aggregate total of $9,999.99.
Any Bill Payment can be changed or canceled, provided you access the Service prior to the cut-off time on the business day prior to the business day the Bill Payment is going to be initiated. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a fee to stop the bill payment. A stop payment order must be given in the manner required by law and must be received in time to give us a reasonable opportunity to act on it before our stop payment cut-off time. Our stop payment cut-off hour is one hour after the opening of the next banking day after the banking day on which we received the check or Automatic Clearing House (ACH) transaction. Additional limitations on our obligation to stop payment are provided by law. A stop payment order must be in writing, or if oral, the stop payment order must be confirmed in writing within 14 days. The stop payment order will expire at the end of 14 days unless you give us written notice of the stop payment order. A stop payment order must precisely identify the date and amount of the item, the payee and the name of the person who signed the check. We use a computer system to identify stop payments. Therefore, if you give us the wrong amount, we may pay the check. We charge you a stop payment order fee to place a stop payment. The stop payment order expires after six months, unless you renew it. If the check or ACH is presented for payment after the order expires, we may pay the item. A release of the stop payment request may be made only by the person who initiated the stop payment.
If we pay a check or ACH, which has a valid stop payment order on it with correct information, we may be responsible to you up to the face amount of the item if you establish that you have suffered a loss because we paid the item. You agree to assign to us all of your rights against the payee and/or other holder of your check or ACH. You also agree to cooperate fully with us in any legal actions that we subsequently take against such persons. Anyone holding the check or ACH, including the Bank, may be entitled to enforce payment against you despite the stop payment order. You agree to indemnify, defend and hold us harmless from all costs (except attorneys' fees), actions, damages, claims and demands related to or arising from our action in stopping payment on the check or ACH.
In using the Service, you understand that the Service and/or the United States Postal Service may return payments for various reasons, such as, but not limited to, the Service account number is not valid; the Service is unable to locate account; or Payee account is paid in full. The Service will use its best efforts to research and correct the returned payment, or void the payment and credit your Payment Account. You may receive notification from the Service.
Liability: You are solely responsible for controlling the safekeeping of, and access to, your password. You are liable for all transactions you make or that you authorize another person to make even if that person exceeds his or her authority. If you want to terminate another person's authority, you must notify the Bank and arrange to change your password. You will be responsible for any Bill Payment request you make that contains an error or is a duplicate of another Bill Payment. The Bank is not responsible for a Bill Payment that is not made if you did not properly follow the instructions for making a Bill Payment. The Bank is not liable for any failure to make a Bill Payment if you fail to promptly notify the Bank after you learn that you have not received credit from a Merchant/payee for a Bill Payment. The Bank is not responsible for your acts or omissions or those of any other person, including, without limitation, any transmission or communications facility, and no such party shall be deemed to be the Bank's agent. In any event, the Bank will not be liable for any special, consequential, incidental, or punitive losses, damages, or expenses in connection with this Agreement or the Service, even if the Bank has knowledge of the possibility of them. The Bank is not liable for any act, failure to act or delay in acting if it is caused, in whole or in part, by any cause beyond the Bank's reasonable control.
I HAVE READ AND UNDERSTAND THE FOREGOING AGREEMENT AND AGREE TO BE BOUND BY ALL ITS TERMS.