What this Agreement covers
This Forbes Bank Online Banking Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of Forbes Bank Online Banking service. This service provides Forbes Bank clients access to perform a number of banking functions through the use of a personal computer or mobile access device, such as a smart phone or tablet, on accounts linked to the service. It also describes the rights and obligations of Forbes Bank ("Bank").
Please read this Agreement carefully. By requesting and using the Online Banking services, you agree to comply with the terms and conditions of this Agreement.
Relation to other Agreements
Your use of Forbes Bank Online Banking services may also be affected by the agreements between us for your linked Forbes Bank accounts. When you link an account to Forbes Bank Online Banking, the agreements that you already have with us do not change. When you use Online Banking services to access a credit account, you do so under the terms and conditions we provided to you in the agreement and disclosure for the credit account. You should review those agreements for any applicable fees, for limitations on the number of transactions you can make, and for other restrictions that might impact your use of an account with Forbes Bank Online Banking.
The following definitions apply in this Agreement:
The Bank does not charge a fee for the use of Online Banking Service, except as otherwise provided in this Agreement or your applicable account agreements and schedule of fees.
When you request the use of the Online Banking Service, the Bank will provide instructions on how to access and use the service. You will need to have an Internet-enabled device, ISP, Account Number and User Password to access Online Banking. If you want to limit the accounts that are linked or the activity level assigned to an account, please contact your client officer to discuss the available options.
Online Banking is available 24 hours a day, seven (7) days a week. However, availability of the Services may be suspended for brief periods of time for purposes of maintenance, updating and revising the software.
For purposes of transactions, the Bank's business days are Monday through Friday, excluding Federal holidays and weekends. All Online Banking transaction requests received after 4:00 p.m. on business days and all transactions which are requested on Saturdays, Sundays, or holidays on which the Bank chooses to remain closed, will be processed on the Bank's next business day. The Bank's business day begins at 8:30 a.m.
A. Account Access. You may access as many Bank personal accounts online as you wish. One of these accounts must be listed as a primary account. There is no restriction on the types of accounts you may access: checking, savings, certificates of deposit or loan accounts.
B. Transfer of Funds. In addition to viewing account information, you may use Online Banking to conduct the transfer of funds. You may make one-time transfers or schedule future or recurring transfers such as transfers to make loan payments. You may transfer funds between your linked Forbes Bank accounts on either a one-time or recurring basis.
Notice: Federal regulations require us to monitor excessive transactions on savings or money market accounts. As described in the Truth in Savings disclosure provided to you at the time your account was opened you are entitled to six transfers or withdrawals (or a combination of six transfers and withdrawals) per statement cycle to another bank account of yours or to a third party when transaction are made by means of preauthorized, automatic transfer, automatic sweep for overdraft protection, or telephone transfer, whether initiated by check, draft, point-of-sale transactions, or debit card transactions, if applicable, or similar order to a third party. This includes online banking account transfers. If you exceed the number of permitted transactions per cycle, an excessive activity fee may apply.
If you need to access your account more frequently, the number of withdrawals allowed per statement cycle is unlimited when made by mail, messenger, automated teller machine (ATM), or in person, or when such withdrawals are made by telephone (via check mailed to the depositor).
Accordingly, if the transfer limitations are continuously exceeded in a 3-month period of the preceding 12-month period, we are required to convert the account to a non-interest bearing account or lower interest bearing account, if eligible.
C. Additional Services. New services may be introduced for Online Banking from time to time. The Bank will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.
D. Account Alerts. Account alerts allow you to choose optional alert messages for your accounts. Each account alert has different options available, and you will be asked to select from among these options upon activation of an account alert. 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. Alerts will be sent to the email address you have provided as your primary email address for Online Banking. If you change your email address, you are responsible for informing us of that change.
We do our best to deliver alerts in a timely manner with accurate information, however, alerts may be delayed or prevented by factors that are beyond our control (such as system failure or misdirected delivery). We cannot guarantee the delivery or accuracy of alerts, as the content of the alert may be outdated by the time you review or receive the alert. This could be due to other activity on your account or 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 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 a loan payment may be included. Anyone with access to your alerts will be able to view the contents of these messages.
You will receive your regular account statement either monthly or quarterly, depending on the type of account. These statements are available to you electronically within Online Banking on a rolling 18 (eighteen) month period.
You are responsible for keeping your password and Online Account information confidential. In order to protect yourself against fraud, you should adhere to the following guidelines:
If you believe your password has been lost or stolen, or if you suspect any fraudulent activity on your account, call the Bank immediately at +44 (753) 718-5858 between the hours of 8:30 a.m. to 5:00 p.m., Monday through Friday. Telephoning the Bank is the best way of minimizing your losses and liability. You may also send us an email via HelpDesk@forbesbank.co.uk (See Sections X and XI)
If you believe your Password has been lost or stolen, please use the Password change feature within the Online Banking section of the Web site to change your Password. We recommend you follow all guidelines for creating passwords. Remember, the most secure passwords involve: numbers and letters, upper and lower case, numbers, and punctuation.
If you send the Bank an email message, the Bank will be deemed to have received it on the following business day. You should not rely on email if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur.
NOTE: Email transmissions outside of the Online Banking site are not secure. We advise you not to send us or ask for sensitive information such as account numbers, password, or account information, etc. via any general or public email system. If you wish to contact us electronically, please use the Message Center provided in our Online Banking site. Use this secure form to email the Bank regarding inquiries about an electronic funds transfer error resolution, reporting unauthorized transactions or contacting the Bank regarding other concerns of a confidential nature. We will never contact via email and ask for your Online Banking logon credentials.
A. Description of Service. If you are a client of Forbes Bank with a deposit account, you may use the Bill Payment service to direct payments from your designated Bill Payment Account to third parties you wish to pay. Through the Bill Payment Service, you can pay bills from your Bill Payment Account to businesses or individuals. Refer to the Bill Payment Agreement and Disclosure for specific information to set up merchants and payment service charge fees in relation to Bill Pay item requests.
All payments you make will be deducted from the checking account that you designate as your Funding Account for the Bill Payment Service. We reserve the right to restrict types of payees to whom payments may be made using the Service from time to time.
You should not use the Bill Payment Service to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility if delayed or improperly processed or credited.
B. Scheduling Payments. Funds must be available in your Bill Payment Account on the scheduled process date. If the date you schedule a payment to be initiated falls on a non-business day (Saturday, Sunday, or Federal holiday), funds must be available in your Bill Payment Account the following business day (e.g. Monday).
After funds are withdrawn from your Bill Payment Account to make a payment, we may make the payment either by transferring funds electronically to the payee or by mailing the payee a check. You may choose to schedule payments to recur in the same amount at regular weekly, monthly, or semi-monthly intervals. When you create a new payee in the Bill Payment Service, it may take two (2) business days to set up the payee to receive payments. You should schedule a payment to a new payee at least ten (10) business days before any payment due date, to allow us time to set up the payee and verify information about your account with the payee.
C. No Duty to Monitor Payments. The Bank is only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. The Bank will not be liable in any way for damages you incur for any of the following reasons:
If the session during which you schedule a payment or transfer ends by 10:00 a.m., the Bank will be considered to have received it on that day. Otherwise, it will be considered received on the following business day. For all entries made using the Services, the time recorded by the Online Banking Service will be considered the official time of the transaction. If your Bill Payment Account does not have sufficient funds to make a payment as of the date the payment is debited to your account, three (3) attempts will be made to complete the transaction. The Bank shall have no obligation or liability if it does not complete a payment because there are insufficient funds in your account to process a payment. In all cases, you are responsible for making alternate arrangements for the payment or reschedule the payment through the Service. In the case of fixed payments, only the payment currently scheduled will be impacted. Fixed payments scheduled for future dates will not be affected.
D. Cancel or Change Payment Instructions. Payments must be changed or canceled using the Service prior to 10:00 a.m. on the business day the transaction is scheduled 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 stop payment fee. Stop payment orders whether written, or electronic, will be in effect for a period of six (6) months. Verbal requests are in effect for a period of fourteen (14) days. After the fourteen (14) days the verbal stop payment will terminate. After six (6) months, the written or electronic stop payment will terminate and must be renewed in order to continue in effect. The Bank may pay any item that is presented following the lapse of any stop payment order.
E. No Signature Required. When any payment or other online Service generates items to be charged to your account, you agree that we may debit your Bill Payment Account without requiring your signature on the item and without prior notice to you.
F. Multiple Person Bill Payment Accounts. If more than one person has access to a Bill Payment Account, each person may individually enroll in the Bill Pay Service. Each enrolled person needs a unique password but may choose to use the same payee list. Each individual may terminate her/his enrollment in the Bill Payment Service without affecting the Service for any other person enrolled in that Bill Payment Account. However, any enrolled person may terminate the Bill Payment Service that will terminate the Service for all enrolled persons on that Bill Payment Account.
All accounts with the Bank that you enroll in a service will be linked by the tax identification numbers of the persons authorized to access the account. The linked accounts will appear together without regard to the ownership of the accounts. For example, if an authorized user of a linked account accesses the Service, that authorized user will be able to view and access at a single time the following accounts:
If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to:
Additional Provisions Applicable Only to Business Accounts (other than Sole Proprietors)
A. Protecting Your User Logon Credentials
You agree that we may send notices and other communications, to the current address shown in our records, whether or not that address includes a designation for delivery to the attention of any particular individual. You further agree that we will not be responsible or liable to you in any way if information is intercepted by an unauthorized person, either in transit or at your place of business. You agree to: 1) keep your user logon credentials secure and strictly confidential 2) instruct each person to whom you have authorized to have user logon credentials that he or she is not to disclose it to any unauthorized person; and 3) immediately notify us and select a new user logon credentials if you believe your user logon credentials may have become known to an unauthorized person.
Forbes Bank will have no liability to you for any unauthorized payment or transfer made using your user login credentials that occurs before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice. We may suspend or cancel your user logon credentials even without receiving such notice from you, if we suspect your user logon credentials is being used in an unauthorized or fraudulent manner. Forbes Bank will have no liability for such suspension or cancellation.
B. Acknowledgment of Commercially Reasonable Security Procedures
By using Online Banking, you acknowledge and agree that this Agreement sets forth security procedures for electronic banking transactions that are commercially reasonable. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use as described above (and we had a reasonable opportunity to act on such notice).
C. Limitation of Bank's Liability
If we fail or delay in making a payment or transfer pursuant to your instructions, or if we make a payment or transfer in an erroneous amount that is less than the amount per your instructions, unless otherwise required by law, our liability shall be limited to interest on the amount that we failed to timely pay or transfer, calculated from the date on which the payment or transfer was to be made until the date it was actually made or you canceled the instructions. We may pay such interest either to you or the intended recipient of the payment or transfer, but in no event will we be liable to both parties, and our payment to either party will fully discharge any obligation to the other. If we make a payment or transfer in an erroneous amount that exceeds the amount per your instructions, or if we permit an unauthorized payment or transfer after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law, our liability will be limited to a refund of the amount erroneously paid or transferred, plus interest thereon from the date of the payment or transfer to the date of the refund, but in no event to exceed 60 days' interest. If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the average federal funds rate, computed on the basis of a 360-day year. Unless otherwise required by law, in no event will Forbes Bank be liable to you for special, indirect or consequential damages including, without limitation, lost profits or attorney's fees, even if we are advised in advance of the possibility of such damages.
A. Applicability. These provisions are only applicable to online electronic fund transfers that credit or debit a consumer's checking, savings or other asset account. When applicable, the Bank may rely on any exceptions to these provisions that are contained in Regulation E. All terms that are not defined in this Agreement but which are defined in Regulation E shall have the same meaning when used in this section.
B. Your liability. The following determines your liability for any unauthorized EFT or any series of related unauthorized EFTs:
1. Generally, tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe an electronic funds transfer has been made without your permission using information from your check. Telephoning the bank is the best way of keeping your possible losses down. If you notify the Bank within two (2) business days after your password was lost or stolen, your liability will not exceed $50.00 or the amount of the unauthorized EFTs that occur before notification, whichever is less.
2. If you fail to notify the Bank within two (2) business days after your password was lost or stolen, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, your liability will not exceed the lesser of $500.00 or the total of:
a. $50.00 or the amount of unauthorized EFTs that occur within the two (2) business days; and
b. the total of authorized EFTs which occur during the two (2) days before notification to the Bank, provided the Bank establishes that these EFTs would not have occurred had the Bank been notified within that two-day period.
3. You must report an unauthorized EFT that appears on your periodic statement, no later than 60 days of transmittal of the statement to avoid liability for subsequent transfers. Your liability will not exceed the amount of the unauthorized EFTs that occurred within the 60-day period. You may also be liable for the amounts as described in sections 1 and 2 above.
If you tell us orally, we will require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your 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 Forbes Bank before this account was opened.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.
You may ask for copies of the documents that we used in our investigation.
4. You may notify the Bank by telephone or in writing. Notification by general email to report an unauthorized transaction is not secure and therefore not advised.
C. Telephone Numbers and Addresses. In case of errors or questions regarding an Online Banking or Bill Payment transaction, call +44 (753) 718-5858 or write us at: Forbes Bank, Attn: Client Services, Athol Street, Douglas, IM1 - Isle of Man. We must hear from you at the telephone number or address, listed above, no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. We will need:
1. Your Name and account number (if any)
2. Description of the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need additional information
3. Tell us the amount of the suspected error.
A. Term. This agreement will become effective on the Effective Date and shall remain in full force and effect until termination in accordance with the following provisions.
B. Termination for Cause. To terminate this Agreement, you must notify the Bank and provide your:
a. Name
b. Address
c. The Service(s) you are discontinuing, and
d. The termination date of the Service(s).
When Bill Payment is terminated, any prescheduled bill payments made through Online Banking will also be terminated. You may contact the bank either by the following methods:
Forbes Bank,
Attn: Client Services
Athol Street,
Douglas, IM1 - Isle of Man
A. Our Liability. In addition to the provisions above, this section explains our liability to you only to the extent that any other agreements, notices or disclosures have not separately disclosed our liability. In no event, shall we be liable to you for failure to provide access to your Online Banking or Bill Payment service accounts. Unless otherwise required by applicable law, we are only responsible for performing the Online Banking and Bill Payment services as delineated in this Agreement. We will be liable for the amount of any material losses or damages incurred by you and resulting directly from our gross negligence. We will not be liable to you in the following instances:
1. If through no fault of the Bank, you do not have enough money in your account to make the transfer
2. If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevents the transfer despite reasonable precautions that we have taken.
3. If there is a hold on your account, or if access to your account is blocked, in accordance with banking policy.
4. If your funds are subject to a legal proceeding or other encumbrance is restricting the transfer.
5. If your transfer authorization terminates by operation of law.
6. If you believe someone has accessed your accounts without your permission and you fail to notify the bank immediately.
7. If you have not properly followed the instructions on how to make a transfer including in this Agreement.
8. If we have received incomplete or inaccurate information from you or a third party involving the account or transfer.
9. If we have a reasonable basis for believing that unauthorized use of your password or account has occurred (or may be occurring)
10. If you default under this Agreement, the deposit account agreement, a credit agreement or any other agreement with us, or if we or you terminate this Agreement.
IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF THIS AGREEMENT.
B. Indemnification. You agree to indemnify, defend and hold us, our affiliate companies, directors, officers, employees and agents harmless against any third party claim, demand, suit, action or other proceeding and any expenses related to an Online Banking or Bill Payment account.
C. Third Parties. We are not liable for any loss or liability resulting from any failure of your equipment or software, or that of an internet service provider such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Explorer browser), by an internet access provider, or by an online service provider, nor will we be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access an Online Banking or Bill Payment account.
D. Virus/Malware/Spyware Protection. The Bank is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC or mobile device using a virus protection product. Undetected virus(es)/Malware/Spyware may corrupt and destroy your programs, files, and your hardware or may provide unauthorized access to your accounts.
Recommended best practices for Consumer Online Banking:
Account Number and Password Guidelines:
General Guidelines:
Online Payments, Account Transfer & Account Data:
Recommended best practices for Business Online Banking:
Account Number and Password Guidelines:
General Guidelines:
Recommended best practices for Business Online Banking (cont.):
Online Payments & Account Data
Account Transfer
Wire Transfer
Administrative Users or Users
A. Bank Agreements. In addition to this Agreement, you and the Bank agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking Service or the Bill Payment Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures including the charges that may be imposed for electronic funds transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule contained in this Agreement. We will automatically deduct the fees related to this Service from your Bill Payment Account each month. In the event of a conflict between this agreement and any other agreement, the other agreement shall control over this agreement.
B. Changes and Modifications. The Bank may modify the terms and conditions applicable to the Services from time to time. We may send any notice to you via email and you will have to be deemed to have received it three days after it is sent. The revised terms and conditions shall be effective at the earliest date allowed by applicable law. We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice.
C. Assignment. We may assign this Agreement to an affiliate of the Bank or any successor in interest in the event of a merger, reorganization, change of control, acquisition or sale of all or substantially all assets of the business to which this Agreement is related without the other party's prior written consent.
D. Notices. Unless otherwise required by applicable law, any notice or written communication given pursuant to this Agreement may be sent to you electronically.
E. Disclosure of Information. We will only disclose information to third parties about your account or transfers you make under the following circumstances:
F. Governing Law. This Agreement is governed by the laws of the Isle of Man.
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