PNB ONLINE BANKING AGREEMENT
Pike National Bank
A consumer who has applied for use of our PNB Online Banking Service, or any
person authorized by the consumer to use the consumer's PNB Online Banking
Service (collectively, you, your or yours) and sets forth the terms governing
the provision of Internet banking services to you. This PNB Online Banking
Agreement describes your and our rights, responsibilities and obligations.
"Account" means a checking, savings, or money
market deposit account that you have with us for personal, family or household
"Account Access" means your ability to access
account and transaction information on Accounts and transfer funds between
Accounts through the Internet.
"Account Agreement(s)" means all agreements
between you and us that govern the use of your Account, including the deposit
account agreement, any funds availability agreement, electronic fund transfer
agreement or disclosure, line of credit agreement, credit card agreement and
our schedule of fees and charges.
"Bill Payment Account" means the Account you have
authorized us to debit for payments made to Payee(s) in connection with the PNB
Online Banking Service.
"Bill Payment Service" means our service that
allows you to pay or transfer funds to designated Payees based upon your
instructions to us via a personal computer.
Business Day or "business day" means Monday
through Friday. Holidays are not included.
"Electronic" means electrical, digital, magnetic,
wireless, optical or electromagnetic technology, or any other technology that
entails similar capabilities.
"PNB Online Banking
Service" means collectively Account Access and Bill Payment services.
"Payee" means any individual, financial
institution, educational institution, company, merchant or other business
entity you wish to pay using PNB Online Banking Services.
"Personal Identification Number" or
"PIN" means the confidential identification number or other code
assigned to you by us or selected by you for identification purposes in
connection with the use of our PNB Online Banking Services.
"Transfer" means any electronic banking
transaction, including a deposit, withdrawal or bill payment made
II. Setup and
Use of PNB Online Banking Services.
In order to activate your PNB Online
Banking Services, you must have at least one Account with us. You will be given
an initial PNB Online Banking Services ID and a PIN. You will be required to
pay the required monthly fee and other fees described in this Agreement. We'll
assign a PIN to you, which you must change when you sign on to the PNB
Online Banking Service. We may require you to change your PIN from time to
time for security reasons. You should keep your PIN in a secure location. Any
person having access to your PNB Online Banking Services ID and PIN may be able
to access the PNB Online Banking Services and perform all transactions,
including reviewing Account information and making transfers to other Accounts
and to other persons.(through Bill Pay).
PNB Online Banking Services are generally accessible 24
hours a day, seven days a week, except that PNB Online Banking Services may
be inaccessible for a reasonable period for system
maintenance. We are not liable under this Agreement for failure to provide access
due to a system failure or due to other unforeseen acts.
We may modify, suspend, or terminate access to the PNB
Online Banking Services at any time and for any reason without notice or refund
of fees you've paid.
C. Linking Your Accounts.
You can access your Pike National Bank Accounts through the PNB
Online Banking Services. We will provide you with instructions on how to set up
the PNB Online Banking Services.
To use the PNB Online
Banking Services, you need a computer with an internet connection and a web
browser (such as Netscape Navigator®, Microsoft Internet Explorer®, or an
equivalent). You are responsible for the set-up and maintenance of your home
computer and internet connection. We are not responsible for any errors or
failures from any malfunction of your computer or any virus or other problems
related to the use of the PNB Online Banking Services.
E. Limitation of Liability.
of Fitness and Merchantability.
NEITHER WE NOR ANY INFORMATION PROVIDERS MAKE ANY WARRANTY,
EXPRESS OR IMPLIED, TO YOU CONCERNING THE SOFTWARE, EQUIPMENT, BROWSER OR OTHER
SERVICES INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY OR
FITNESS FOR PARTICULAR PURPOSE OR NON-INFRINGEMENT OF THIRD-PARTY RIGHTS,
UNLESS DISCLAIMING SUCH WARRANTY IS PROHIBITED BY LAW.
Neither we nor any information provider is liable for any
computer virus or software-related problems which may be attributable to the
services provided in connection with the PNB Online Banking Services.
III. PNB Online Banking
A. Products and Services Offered.
You can use the PNB Online Banking Services to:
transfers between Accounts that you have with us.
2. Obtain Account balances. Your account balance is
generally current as of midnight the previous Business Day, but may not include
current transactions (such as deposits that were made at a teller today). In
addition, your account balance may show funds that have been credited to your
account but that are not yet available for withdrawal.
3. Transfer funds from an account
to another account of yours at another institution through Bill Pay.
funds from an Account to third parties through Bill Pay.
5. Pay bills
to merchants, individuals and others located in the U.S.
6. Review the history of
past transactions on your Accounts.
7. Transfer money to pay your personal
and other types of loans as available from us.
8. Send e-mail messages to
us. E-mail may not, however, be used to initiate transactions on your Accounts
or stop payment requests.
9. Download account
information in the following formats:
•Word Processing, txt;
•Microsoft Money; and
These activities are limited to the extent noted below and
in the agreements governing your various accounts. Your ability to transfer
funds from savings and money market deposit accounts using the PNB Online
Banking Services are subject to the limitations described in the applicable
account agreements. You should refer to these agreements for restrictions and
B. Additional Information about the PNB Online Banking
To use the PNB Online Banking Services, you must first link
your Accounts with us. You can link your personal checking account, savings
accounts and loan accounts with us to the PNB Online Banking Service.
You may transfer funds through the PNB Online Banking
Services in any amount. You may set up recurring transfers between accounts,
make a PNB loan payment, and view and print past statements.
We deduct the amount of your fund transfer from your Account
on the date you instruct us to process it. We may refuse to act on your fund
transfer instruction if sufficient funds, including funds available under any
overdraft plan, are not available in your account on the date you want us to
If you link a personal deposit account to PNB Online Banking
and use it for business purposes, we may convert the account to a business
checking account. We will send you a notice of this change.
To use the Bill Payment Service, you must designate a
personal checking account with us as your Bill Payment Account. You may make
bill payments in any amount between $1.01 and $99,999.99.
When you schedule a bill payment using the PNB Online
Banking Services, you authorize us to withdraw the necessary funds from your
Bill Payment Account with us. We may refuse to act on your instruction if
sufficient funds, including funds available under any overdraft plan, are not
available in your Bill Payment Account on the date you want us to process your
Fund Transfers and Bill Payments.
We can process a fund transfer or bill payment on the same
Business Day as your PNB Online Banking session, if we receive your
instructions before the relevant cutoff time (5:00 p.m. McComb, MS, local time for
fund transfers and 11:30 a.m. McComb, MS, local time for bill payments). If
you schedule a fund transfer for a future date, we process the transaction
after the close of business on that date, if that day is a Business Day. If we
receive your instruction after the relevant cutoff time, or if the date of your
request is not a Business Day, we will process the transaction on our next
We deduct the amount of your funds transfer or bill payment
from your account on the date we process your instruction. If the date that
you schedule a payment falls on a weekend or holiday, we process your
instruction the next business day.
To ensure that your payments arrive on time, you must
schedule your payments to be processed at least five to seven business days
before the payment due date. This generally allows sufficient time for the
Payee to receive and post your payment. We are not responsible for postal
delays or processing delays by the Payee.
We give payments made through PNB Online Banking Services a
confirmation reference number. You may review payments by using the BILL PAY option
on the PNB Online Banking screen.
If there are insufficient funds in your Account to make the
transfers or payments you have authorized, we may refuse to make the transfer
or payment or we may make the transfer or payment and overdraw your Account. In
either event, you are responsible for any non-sufficient funds ("NSF")
and overdraft charges that may apply.
When you add Payees to the PNB Online Banking Service, you
must be sure to enter your account number and address as they appear on your
payment stub or invoice.
Occasionally a Payee may choose not to participate in the
services, or may require additional information before accepting payments. We
work with these Payees to encourage them to accept an electronic or check
payment from the Bank. If we are unsuccessful, or if we believe that the Payee
cannot process payments in a timely manner, we may decline to make future
payments to this Payee. In the unlikely event that this occurs, we will send you a
notice. We may refuse to make payments to certain Payees (such as government
4. How Bill
Payments are made.
We process the payments you make through the PNB Online
Banking Services in one of the following ways:
We may send payments through an electronic transmission to
the Payee. Payees who receive electronic delivery will receive your payment
information, including your account number, through a computer link.
Payments made electronically are generally received and
credited by most payees within two to three business days.
We may send payments by a bank check mailed to the Payee. We
send all checks through the U.S. mail. Payments made with a bank check are
generally received and credited by most Payees within five to seven business
However, from time to time we may receive instructions from
a Payee that direct us, in order to ensure the timely processing of your
payment, to send your payment to an address other than the one that you
provided us, or that direct us to make your payment electronically rather than
by check, to an account owned by the Payee at another financial institution.
When we receive such payment instructions from the Payee, we may follow those
instructions, to help ensure that our payment is received by the Payee and
promptly credited to your account.
Fund Transfers and Bill Payments.
If you have told us in advance to make regular payments out
of your account, you can stop or change any of these payments. To stop or
change a bill payment you have authorized, call the PNB Account Services
Department at 601-684-7575, or write us at Pike National Bank, Attn: Account
Services, 350 Rawls Dr., P.O. Box 1666, McComb, Mississippi 39649-1666, in time
for us to receive your request three (3) business days or more before the
payment is scheduled to be made. If you call, we may also require you to put
your request in writing and get it to us within fourteen (14) days after you
call. You will be charged $33.00 for each stop-payment order you give. We will
revoke the stop payment if written notice is not given to us after 14 days.
C. Transfers from Savings/Money Market Deposit Accounts.
Federal regulations require us to limit either by contract
or in practice the number of certain types of transfers from savings and money
market deposit accounts. You are limited to [six (6)] preauthorized electronic
fund transfers. Of these six transactions, you are limited to no more than
three transactions per month by check or point-of-sale. Each fund transfer or
payment through PNB Online Banking Services from your savings or money market
deposit account is counted as one of the six limited transfers you are permitted
each month. However, payments to your loan accounts with us are not counted
toward this limit for savings and money market deposit accounts. We recommend
that you not use a money market deposit account as your Bill Payment Account
because of these restrictions.
A. The monthly service charge for
the Bill Pay Service is based on the type of Account you currently have (see
account type brochure for fees). This charge will be in addition to the fees
and charges that apply to your Accounts. All fees will be deducted monthly
from the Account that you designate as your Bill Payment Account. An
additional $2.00 fee will be added for Checking Plus accounts plus thirty cents
B. You should note
that depending on how you access the PNB Online Banking Service, you may incur
other charges. These include charges for:
l Normal checking account fees and
l Internet service provider fees; and
l The purchase of financial management software.
C. For savings accounts and money
market deposit accounts, an excess transaction fee may apply to each
transaction made through the PNB Online Banking product that exceeds the number
of limited transactions you may make each statement period. These fees are
described in your deposit account agreement.
D. If an inquiry about a
transaction that occurred more than 90 days before the date you make the
inquiry, we may charge a research fee of $ 25.00 an hour and a $3.00 per
V. Parties' Responsibilities.
A. Responsibilities of the Consumer.
Rights and Responsibilities.
Use of Services by Other Persons.
You are responsible for keeping your PIN and account data
confidential. We will require you to follow this and other security procedures
provided to you separately by Bank (Security Procedures) in order to obtain
access to the PNB Online Banking Services. We are entitled to act on
transaction instructions received using your PIN and other Security Procedures,
and you agree that the use of your PIN and other Security Procedures will have
the same effect as your signature authorizing the transaction. If you authorize
other persons to use your PIN and other Security Procedures in any manner,
your authorization will be considered unlimited in amount and manner until you
have notified us in writing that you have revoked the authorization and changed
your PIN or other Security Procedures, and you are responsible for any
transactions made by such persons until you notify us that transfers by that
person are no longer authorized and we have a reasonable opportunity to act
upon the change of your PIN or other Security Procedures.
You should notify us immediately if you believe: (1) your
PIN has been lost or stolen; (2) your other Security Procedures have been
compromised; or (3) someone has transferred or may transfer money from your
account without your permission or if you suspect any fraudulent activity on
your account. To notify us call PNB Account Services Department at (601)
684-7575 on a Business Day during our regular business hours or write Pike
National Bank, Attn: Account Services Department, P.O. Box 1666, McComb,
Liability for Unauthorized Transactions.
NOTE: Federal law requires that if you believe your PIN has
been lost or stolen, and you tell us within two (2) business days after you
learn of the loss or theft, you can lose no more than $50 if someone used your PIN
without your permission.
Please tell us AT ONCE if you believe your PIN has been lost
or stolen. Telephoning is the best way of keeping your possible losses down. If
you do not notify us promptly, it is possible that you could lose all the money
in your Account (plus your maximum overdraft line of credit). If you tell us
within two (2) business days, you can lose no more than $50 if someone used
your PIN without your permission.
If you do NOT tell us within two (2) business days after you
learn of the loss or theft of your PIN, and we can prove that we could have
stopped someone from using your PIN without your permission if you had told us,
you could lose as much as $500.
Also, if your statement shows transfers that you did not
make, tell us at once. If you do not tell us within 60 days after the FIRST
statement showing such a transfer was mailed to you, you may not get back any
money you lost after the 60 days, if we can prove that we could have stopped
someone from taking the money if you had told us in time. Your role is
extremely important in the prevention of any wrongful use of your account. You
must promptly examine your account statement upon receipt. If you find that
your records and ours disagree, you must call PNB Account Services Department
at (601) 684-7575 immediately.
If a good reason (such as a long trip or a hospital stay)
kept you from telling us, we may extend these time periods.
(d) Resolving Errors or
think your statement or receipt is wrong or if you need more information about
a transfer listed on the statement or receipt, contact us by telephone at (601)
684-7575 or write us at Pike National Bank, Attn: Account Services Department,
P.O. Box 1666, McComb, Mississippi 39649-1666 as soon as you can.
hear from you no later than 60 days after we sent the FIRST statement on which
the problem or error appeared. When you contact us, our representative will
need to know the following information:
(1) Your name and account number;
(2) A description of the
error or the transfer you are unsure about, and an explanation of why you
believe it is an error or why you need more information; and
(3) The dollar amount of the
tell us orally, we may require that you send us your complaint or question in
writing within ten (10) business days. We will tell you the results of our
investigation within ten (10) business days (20 business days if the transfer
involved a new account) after we hear from you and will correct any error
need more time, however, we may take up to 45 days (90 days if the transfer
involved a new account, point-of-sale debit card transaction or a
foreign-initiated transfer) to investigate your complaint or questions.
If we decide to do this, we will provisionally credit your account within ten
(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 the 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
ten (10) business days, we may not provisionally credit your account.
decide that there was no error, we will send you a written explanation within
three business days after we complete our investigation. You may ask for
copies of the documents that we used in our investigation.
account is considered a new account for 30 days after the first deposit to the
account was made.
1. Our Rights and Responsibilities.
(a) Our Responsibility for
If we do
not complete a transfer to or from your Account (or cancel a transfer properly
requested) on time or in the correct amount according to our agreement with
you, we are liable for your losses or damages.
(b) Limitations of Our Responsibility for Processing
are some exceptions to our liability for processing transactions on your
Accounts. We will not be liable, for instance:
(1) If, through no fault of
ours, you do not have enough money in your Account to make the transfer;
(2) If the transfer would go
over the credit limit on your overdraft line;
(3) If the funds in your
Account were attached or the transfer cannot be made because of legal
restrictions affecting your Account;
(4) If the systems were not
working properly and you knew about the breakdown when you started the
(5) If circumstances beyond
our control (such as interruption of telephone service or telecommunication
facilities, or natural disaster such as a fire or flood) prevent the transfer,
despite reasonable precautions that we have taken;
(6) If you have not provided
us with complete and correct payment information, including without limitation
the name, address, account number and payment amount for the Payee on a bill
(7) If you have not properly
followed the instructions for using the PNB Online Banking Services;
(8) If your operating system
or software was not properly installed or functioning properly; or
(9) There may be other exceptions stated in our
agreement with you.
RESPONSIBILITY FOR AN ERROR IN A TRANSFER WILL BE TO CORRECT THE ERROR, BUT IN
NO CASE WILL WE BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR
CONSEQUENTIAL DAMAGES. IN STATES WHICH DO NOT ALLOW THE EXCLUSION OR LIMITATION
OF LIABILITY FOR INDIRECT, SPECIAL INCIDENTAL OR CONSEQUENTIAL DAMAGES, OUR
LIABILITY IS LIMITED TO THE EXTENT PERMITTED BY APPLICABLE LAW.
Online Banking Services remain in effect until terminated by you or us. You may
cancel your PNB Online Banking Services at any time by notifying us of your
intent to cancel in writing at Pike National Bank, Attn: Account Services
Department, P.O. Box 1666, McComb, Mississippi 39649-1666. This cancellation
applies only to your PNB Online Banking Services and does not terminate your
other relationships with us. Your termination of your PNB Online Banking
Services will automatically terminate any pending payments.
terminate your participation in the PNB Online Banking Services for any reason,
at any time. We will try to notify you in advance, but we are not obliged to do
VII. Changes in Terms and other Amendments.
amend this Agreement (including changes in fees and charges) by giving notice
to you at least thirty days before the effective date of the amendment, unless
such change or amendments are otherwise required by law or applicable
regulation. Your continued use of the PNB Online Banking Services constitutes
your agreement to the amendment(s). The terms of your other account agreements
shall continue to apply.
VIII. Other Provisions.
A. Ownership of Website.
content, information and offers on our website are copyrighted by Pike National
Bank and the unauthorized use, reproduction, linking or distribution of any
portions is strictly prohibited.
B. Geographic Restrictions.
Online Banking Services described in this Agreement and any application for
consumer credit or deposit services available at our web site are solely
offered to citizens and residents of the United States of America residing in
the United States of America. Citizens and residents may not be able to access
the PNB Online Banking Services outside the United States of America.
C. Governing Law.
Agreement shall be governed by and construed in accordance with the laws of
Mississippi without regard to conflict of law provisions. Your existing Account
relationships shall continue to be governed by and construed in accordance with
the laws as disclosed in such Account agreements.
Agreement represents our complete agreement with you relating to our provision
of the PNB Online Banking Services. No other statement, oral or written,
including language contained in our website, unless otherwise noted, is part of
E. Assignment and Delegation.
Agreement may not be assigned by the Customer. The Bank may assign this
Agreement to any affiliate of the Bank. The Bank may delegate its duties under
this Agreement to third parties.
headings of the paragraphs of this Agreement are for convenience and reference
and shall not affect its construction or interpretation.
IX. DISPUTE RESOLUTION.
dispute resulting from or arising out of this Agreement, or any aspect of the
relationship between the parties, howsoever such relationship may be based,
shall be resolved by submission to binding arbitration under the applicable
rules of the American Arbitration Association (the "Rules") as they
may from time to time exist. The arbitration shall be conducted at a place
designated by the arbitrator(s) which shall be as close as practicable to
McComb, Mississippi. The decision and award, if any, of the arbitrator(s),
which shall be in writing, shall be final and binding and may be entered as a
judgment in any state or federal court having jurisdiction. The arbitrator's
award may in no case include an amount for punitive damages, and no combination
of claimants shall be allowed to participate in the arbitration as a class or
through any type of class action.
THE PARTIES UNDERSTAND THAT THIS IS
AN AGREEMENT AMONG THEM TO SETTLE DISPUTES BY BINDING ARBITRATION, REPLACING
THE RIGHT TO HAVE SUCH MATTERS DETERMINED BY A COURT, EITHER WITH OR WITHOUT A
JURY, AND WAIVING ANY RIGHTS TO PUNITIVE DAMAGES OR CLASS ACTIONS.