PNB ONLINE BANKING AGREEMENT
Pike National Bank
McComb, Mississippi
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.
I. Definitions.
"Account" means a checking, savings, or money market deposit account that you have with us for personal, family or household use.
"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 electronically.
II. Setup and Use of PNB Online Banking Services.
A. Eligibility.
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).
B. Access.
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.
D. Equipment Requirements.
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.
1. Disclaimer of Warranties.
(a) Warranties 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.
(b) Computer-related Warranties.
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 Services.
A. Products and Services Offered.
You can use the PNB Online Banking Services to:
1. Make 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.
4. Transfer 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
•Spreadsheet.
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 service charges.
B. Additional Information about the PNB Online Banking Service.
1. Account Access.
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 transfer funds.
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.
2. Bill Payment Service.
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 payment.
3. Processing 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 Business day.
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 agencies).
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 days.
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.
5. Canceling 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.
IV. Fees.
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 per item.
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 service charges;
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 statement fee.
V. Parties' Responsibilities.
A. Responsibilities of the Consumer.
1. Your Rights and Responsibilities.
(a) Authorized 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.
(b) Reporting Unauthorized Transactions.
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, Mississippi 39649-1666.
(c) Consumer 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 Problems.
If you 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.
We must 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 suspected error.
If you 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 promptly.
If we 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.
If we 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.
An account is considered a new account for 30 days after the first deposit to the account was made.
B. PNB Responsibilities.
1. Our Rights and Responsibilities.
(a) Our Responsibility for Processing Transactions.
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 Transactions.
There 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 transfer;
(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 payment;
(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.
OUR SOLE 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.
VI. Termination.
Your PNB 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.
We may 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 so.
VII. Changes in Terms and other Amendments.
We may 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.
The 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.
The PNB 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.
This 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.
D. Scope of Agreement.
This 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 this Agreement.
E. Assignment and Delegation.
This 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.
F. Headings.
The headings of the paragraphs of this Agreement are for convenience and reference and shall not affect its construction or interpretation.
IX. DISPUTE RESOLUTION.
Any 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.