ONB Bank’s Business Banking Online Disclosure and Agreement
About This Agreement
This Electronic Banking Agreement and Disclosure (“the Agreement”) governs your use of Business Banking Online (“Online Banking”) services offered by ONB Bank, (“the Bank”) which permits you to access your accounts with us via the internet for services selected by you and agreed upon by us. This service is provided by Finastra Fusion Digital, also referred to as “Malauzai”. In this Agreement, the terms “you” and “your” refer to the depositor or authorized user on a business account accessible through Online Banking, and the terms “us,” “we,” and “our” refer to the Bank. Each time you use any of the Online Banking services described in this Agreement, you agree to the terms and conditions in existence at that time.
Other Agreements
Your use of the Online Banking service may also be affected by other agreements between the Bank including, but not limited to, the Deposit Agreement and Disclosure Statement. Your use of the Online Banking service does not change any other agreement you may already have with us. You should review those agreements for any applicable fees, for limitations on the number of transfers you can make, and for other restrictions which might impact the use of your account(s) with the Online Banking service.
The terms and conditions in this Agreement shall have priority and take precedence over any existing terms and conditions in existing deposit account and loan account agreements you have with us in the event of a conflict.
Using Online Banking
To use Online Banking, you must have at least one ONB Bank personal or business account and Internet Banking login credentials. Through Online Banking, you will have access to any of your ONB Bank deposit accounts or loan accounts. ONB Bank reserves the right to deny access to a deposit account or loan account or to deny transactions under certain circumstances.
You are responsible for selecting all systems, hardware and your Internet Service provider and for any defect, malfunction or interruption in service or security due to hardware failure, your choice of Internet Service provider and systems and computer services. We have no responsibility or liability for same.
You are responsible for the installation, maintenance, and operation of your Computer, browser and the software. ONB Bank is not responsible for any errors or failures from any malfunction of your Computer, the browser or the software. ONB Bank is also not responsible for any Computer virus or related problems that may be associated with the use of an online system.
Your access to Online Banking is limited outside of the United States. Countries identified as originators of excessive fraud are blocked as a measure to protect our customers.
THE BUSINESS BANKING ONLINE SERVICE IS PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EXPRESSED OR IMPLIED. WE DO NOT WARRANT THAT INTERNET SERVICE WILL BE UNINTERRUPTED OR ERROR FREE, NOR DO WE MAKE ANY WARRANTY AS TO ANY RESULTS THAT MAY BE OBTAINED BY USE OF INTERNET SERVICE.
In order to use the Online Banking service, you must have a computer and at least one account with the Bank. To access your account(s) via the Internet, you must have Internet access via an Internet Service Provider and an Internet browser that supports at least a 128-bit encryption. The Online Banking product is supported for the current (n) and previous (n-1) of the following major browsers: Google Chrome, Mozilla Firefox, Safari (for Mac OS only), and Microsoft Edge. ONB Bank recommends end-users keep their desktop browser and operating system updated. We do not exclude end users from using other browsers/versions, but we cannot guarantee the user interface (layout/color) will be optimal or that all features will be available.
We require the use of at least a 128-bit secure browser with Secure Sockets Layer (SSL) to login to your accounts and perform transactions. Most modern browsers use SSL technology, however if you are using an older version of software, it would be wise to upgrade. You then know you have the best security protection available.
The following are ways to know if your browser is secure:
• A small window may pop up to tell you that this is a secure link and do you want to continue;
• Instead of the usual http:// you will notice that it has changed to https://. The “s” denotes secure mode;
• Most secure browsers also have a small graphic, such as a padlock or key, that will appear in the address bar next to the website address, indicating a secure connection.
You agree that the Bank is entitled to act upon instructions received through the Online Banking service under your Password. However, you agree that you will not, under any circumstances, disclose your Password by telephone or any other means to any person. You acknowledge that no person from the Bank will ever ask for your Password and that Bank employees do not need and should not ask for your Password. You are liable for all transactions made by the authorized use of your Password and agree that, if you give your Password to anyone, you do so at your own risk since anyone with your Password will have access to your accounts. You may ask the Bank to disable your Online Banking account during any business day.
Description of Services
When your Application is approved you may access Online Banking within the United States to perform the following services:
o Balance inquires on checking, savings, CDs, loans accounts, and more
o Inquiries by check number or date range for accounts with us
o Historical transaction search by one or multiple accounts with us
o Transfer funds between accounts with us on either a one-time or recurring basis
o Scheduled transfers between accounts with us
o Setup sweeps between accounts with us
o Make payments out of deposit accounts to your loan accounts with us
o Account data can be exported to popular financial management applications such as QuickenTM and QuickbooksTM plus Excel and comma separated (.csv) files
o View front and back of check images and deposit slips
o Online statements available in Adobe Acrobat format (PDF)
o Integrated Bill Pay service
Integrated Bill Pay allows an account holder to pay different payees outside of the financial institution at set dates. Bill Pay may be used to set either single or recurring payments. Some common usages for this feature include:
Paying recurring bills with constant payment amounts (such as gym memberships or cable bills).
Paying recurring bills which have changing totals (such as to the electric company).
Making single payments to different companies
o View Account history:
Today
Last 7 days
Last 15 days
Last 30 days
Advanced – allows you to pick date range up to view up to the last 365 days (please remember your user experience may be slowed when choosing a longer historical view).
o Interest information, current and previous year
o Activity information
o Local Admin will set up user accounts
o Change login user ID and password
o Change e-mail address
o Event Alerts and Reminders
o Secure Messaging
o Online help
o Originate ACH credit and debit entries (under separate agreement)
o P2P
o Internal P2P
All accounts can be enabled or disabled for internet banking access on a customer or account level by your Local Administrator.
You may be unable to access Online Banking services from some countries outside the United States. Additional functions may be made available from time-to time, subject to the terms and conditions of this Agreement. Subject to available funds, you may transfer funds using the Online Banking in any amount. We retain the right to place limitations on payment amounts at any time.
Enrollment/Application Forms
To establish the Online Banking service, you must complete the Business Banking Online Application (“Application”) evidencing your desire to access your accounts using Online Banking and identifying the specific accounts that will be accessible (“the account(s)”). The specific services available to you are identified in your Application. The Application must be signed by the authorized signers or owners on ALL eligible accounts enrolled in the services. Your signature(s) on the Application constitutes your agreement to the terms of this Agreement and acknowledges your receipt and understanding of these disclosures. [Additional information relating to Internet Service is included in the on-line manual or instructions provided to you and such materials are incorporated into this Agreement by reference.]
Local Administrator (LA)
The LA is responsible for submitting a “Business Banking Online Application” to the Bank. Upon receipt and acceptance of your signed Application, the designated LA will have all the functions that you have designated on the Business Online Application. The Bank will assign a user code and temporary password to the LA. At the initial log on of the LA they will be required to change their user code to a unique Login Name and they will be required to change their password. The LA will have the ability to restrict access to specific IP addresses. The LA will control access for all other users of your Business Banking Online service by setting up the following login credentials for each user:
o User ID
o Common Name
o Email address
o Password
o Security Key
o Challenge Questions
o Roles/Features
High Risk Transaction (HRT) Codes
Account holders will be required to complete the High Risk Transaction Code steps the first time they login on a new or different device or browser. This Authentication process involves the user to select a message preference that utilizes contact information we have on file to send a one-time code that will be valid for a limited period of time. The user must enter the code within the valid time frame to complete the login process.
Additionally, HRT Codes will activate each time users complete one of the following processes: payment initiation, payment approval, transfers, Bill Pay, Picture Pay, P2P, and Internal P2P.
Limitations On Transfers and Payments
When you request a transfer between accounts or make a payment, you authorize the Bank to withdraw the necessary funds from your designated account. You agree that you will instruct the Bank to make a withdrawal only when a sufficient balance is available in your account at the time of withdrawal. If you do not have a sufficient balance the Bank may either complete the transfer or payment – creating an overdraft – or refuse to complete the transfer or payment. In either case, the Bank reserves the right to impose a non-sufficient funds (NSF) fee.
Transfers From Money Market Deposit Accounts
Federal regulations limit the number of preauthorized electronic fund transfers and telephone transfers – including transfers you request using the Online Banking service – on Money Market Investment and Savings Accounts. You are limited to six preauthorized electronic funds transfers, telephone transfers, check or point-of-sale transactions per statement period. Each transfer or payment you request through the Online Banking service from your Money Market Investment account or Savings Account is counted as one of the six limited transfers you are permitted each statement period.
Cancelling Transfers Or Loan Payments
In order to cancel future dated transfers between accounts or loan payments you must login to the Online Banking service and delete the transfer. Instructions for canceling future dated transfers between accounts or loan payments can be found using the Help feature available with the Online Banking service. You may cancel a future dated transfer between deposit accounts or a loan payment; however the Bank must receive your instructions to cancel the transfer or loan payment no later than the end of the business day before the date on which the transfer or loan payment is scheduled to be made.
Business Day
Our business days are Monday through Friday, excluding designated bank holidays. Account transfers or loan payment instructions received after 5:00 PM (Central Time), or on a day the Bank is not open for business, will be processed on the following business day. If you request a transfer or payment for a future date that is not a business day, the Bank will process your request on the last business day before – or on the first business day after – the future date that is not a business day, depending on your instruction. Same day ACH transactions must be received by 12:00PM (Central Time) on a business day in order to process the same business day. Next day ACH transactions must be received by 2:00 PM (Central Time) on a business day in order to process on the following business day.
Fees and Charges
We will charge you Online Banking fees, if any, identified in our current Fee Schedule accompanying this Agreement, and as it may be amended by us from time to time, and otherwise in accordance with our Deposit Account Rules.
Documentation Of Transfers And Payments
You will be provided a confirmation number at the time of each transfer. Please write down this number when you receive it. It helps the bank resolve any questions you may have concerning your transaction. Confirmation numbers of the transactions you initiate using the Online Banking service will appear on your monthly statements.
Periodic Statements
You will get a monthly account statement from the Bank for your checking, money market checking and money market investment accounts.
You will get a monthly account statement from the Bank for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a savings account statement at least quarterly.
Customer Liability
You are responsible for maintaining the confidentiality of the Login Names, passwords and one-time password credentials. You understand and agree that you are responsible for all transactions incurred using your login name and passwords.
You agree to disclose passwords only to those individuals authorized to use Online Banking or a particular function level in Online Banking. Anyone to whom you disclose your passwords and anyone who has access to your passwords will have full access to the services you can perform on Online Banking, including full access to your accounts. The person’s authority will be limited only to the extent that the password was established with limitations on the functions that could be performed using that password. We are entitled to presume that all communications containing proper login names and passwords are authorized by you and to act upon those communications, and you will be bound by any transaction performed by any person using that login name and password. You assume full responsibility and liability for the consequences of any misuse or unauthorized use of or access to Online Banking Services or disclosure of any confidential information or instructions of yours by your employees, agents or other third parties that gain access to your passwords. The use of the login name and password as a security measure supersedes any other security procedures in agreements you have with us relating to funds transfers such as an ACH Agreement.
Contact In Event Of Unauthorized Access
Tell us AT ONCE if you believe any of your passwords have been lost, stolen or otherwise available to an unauthorized person or that someone has transferred or may transfer money from your account without your permission. Telephoning the bank is the best way of keeping your possible losses down. You could lose all the money in your accounts (plus the maximum amount in your line of credit). Telephone the Bank at (507) 280-0621, or write to the ONB Bank, 975 34th Ave NW, Rochester, MN 55901.
Our Obligation To Make Transfers
Notwithstanding any other provision in this agreement, unless otherwise prohibited by law, our sole responsibility for an error by us or our third party provider in transferring funds or otherwise arising from or relating to this agreement will be to correct any errors, but in no case will we be liable for any indirect, special, incidental or consequential damages in connection with or in any way related to business online banking service or our performance hereunder.
You agree to indemnify and hold us harmless from any and all claims, demands, actions, suits, damages, judgments, liabilities, costs and expenses, and attorneys’ fees arising out of or resulting from your use of Online Banking or your breach of any of your obligations under this Agreement. Your obligation to indemnify us shall survive termination of this Agreement.
Confidentiality
The Bank will disclose information to third parties about your account or the transfer you make:
• when it is necessary for completing transfers;
• in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
• to comply with a government agency or court orders; or
• if you give the Bank permission in writing.
Changes In Terms Or Termination
The Bank may change the terms of this Agreement from time to time and will notify you of such changes by mail or by electronic message. Your continued use of the Online Banking service after the effective date of change will represent your acceptance of the changes.
The Bank also reserves the right to cancel this Agreement at any time, with or without cause and without prior notice. Your termination of Online Banking will automatically terminate any pending transfers and payments. Examples of when the Bank may cancel this Agreement and the use of the Online Banking service without prior notice include, but are not limited to the following:
• if you breach this or any other Agreement the Bank may have with you;
• if the Bank has reason to believe that there has been or may be an unauthorized use of your Password or account(s);
• if there is conflicting claims as to the funds in any of your account(s);
• if you request the Bank to do so;
• if you do not access the system for a period of 365 days or longer.
Third Parties
You understand that support and services relating to Online Banking are provided by third parties other than us, and you authorize us to contract with third parties to provide such support and service. You release us from any liability for failures, acts or omissions of any third party system operator including, but not limited to, unauthorized access to theft or destruction of your information or instructions.
Consent To Receive Electronic Delivery Of Disclosures
You understand and agree that any disclosures that various banking laws and regulations require ONB Bank to provide or make available to you, concerning transactions in the Online Banking system, may be provided to you electronically, via the Internet. Note: You agree to receive and retain these electronic copies of disclosures for transactions that you have initiated on the Online Banking system. You may retain these electronic disclosures in your computer system and/or print them from your computer system. If you wish to initiate a paper-based transaction, or to receive a paper copy of an online transaction, you must visit one of the Bank’s offices.
There is no option to routinely receive paper copies of Online Banking transactions. If you wish to withdraw your consent to access and retain electronic disclosures, you must close your Online Banking account and conduct transactions using the ONB Bank paper based transaction system. To do this, please see a Customer Service Representative.
Data Recording
When you access Internet Banking to conduct transactions, the information you enter may be recorded. By using Internet Banking, you consent to such recording.
No Signature Required
When using Internet Banking to conduct transactions, you agree that ONB Bank may debit your account to complete the transactions, or honor debits you have not signed.
Disclosure of Account Information to Third Parties
We will disclose information to third parties about your account or transfers you made:
1. When it is necessary to complete the transfers;
2. In order to verify the existence and conditions of your account for a third party, such as a credit bureau or merchant;
3. In order to comply with a government agency or court orders; or
4. If you give us written permission.
Charges
You will not be charged for the “view accounts”, or “transfer funds” features of ONB Bank’s Internet Banking. NOTE: Your accounts and loan accounts are still subject to the fees, charges, balance requirements, etc. articulated in the Deposit Agreement and Loan Agreement.
Alterations and Amendments
The terms of this Agreement, applicable fees, and service charges may be altered or amended by ONB Bank from time to time. In such event, ONB Bank shall send notice to you either at your address as it appears on ONB Bank’s records or by online notice through Internet Banking. Any continuation of Internet Banking after ONB Bank sends you a notice of change will constitute your agreement to such change(s). Further, ONB Bank may, from time to time, revise or update the ONB Bank program, services, and/or related material(s) rendering such prior versions obsolete. Consequently, ONB Bank reserves the right to terminate this Agreement as to all such prior versions of the ONB Bank programs, services, and/or related material(s) and limit access to ONB Bank’s more recent versions and updates.
Address Changes
You agree to promptly notify ONB Bank, in writing, of any address or email change.
Termination or Discontinuation
The use of Internet Banking does not require enrollment on your behalf; therefore, termination of Internet Banking by you is done by not accessing or using the Service. However, any transactions or payments you have previously authorized will be completed as instructed. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.
Payee Limitation
ONB Bank reserves the right to impose a frequency or dollar limit on or refuse to make any payment you have directed. ONB Bank is obligated to notify you promptly if it decides to refuse to complete your payment instruction. This notification is not required if you attempt to make payments which are prohibited under this Agreement.
Disputes
In the event of a dispute regarding Internet Banking, you and ONB Bank agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and ONB Bank, which supersedes any proposal or prior agreement, oral or written, and any other communications between you and ONB Bank relating to the subject matter of this Agreement. If there is a conflict between what one of ONB Bank’s employees says and the terms of this Agreement, the terms of this Agreement have final control.
Assignment
You may not assign this Agreement to any other party. ONB Bank may assign this Agreement to any present or future, directly or indirectly, affiliated company. ONB Bank may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.
No Waiver
ONB Bank shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by ONB Bank. No delay or omission on the part of ONB Bank in exercising any right or remedy shall operate as a waiver of such right or remedy or any other rights or remedies. A waiver on any particular occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.
Captions
The captions of sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement.
Governing Law
This Agreement shall be governed by the laws of Minnesota and by applicable Federal laws and regulations.
Business Banking Online Fee Schedule
• Business Banking Online ~ Free.
• Bill Pay ~ Free
• ACH Origination ~ Per file charge of $10.00 plus an item fee of $0.15 per originated entry will be imposed every statement cycle.
ONB BANK
975 34TH AVE NW
ROCHESTER, MN 55901
(507) 280-0621
Member FDIC
