Online Banking Disclosure
|NOTE: You must accept the terms of this disclosure to proceed with your enrollment.
Click on the “I Accept” link at the end of this document to continue.
Citizens Savings Bank & Trust Company (referred to as “Citizens Bank” below) is pleased to announce that it has expanded its banking services to utilize the convenience and efficiency of Internet technology. You, our valued Customer, can enjoy the benefits of this convenience and cutting edge technology by signing up for Citizens Bank’s Online Banking. Set forth below is our Agreement with you as well as certain important rules. Of course, as we all know, there are risks associated with the Internet, and it is absolutely critical that you follow the rules that we lay out below. It is also important that you follow your own judgment in protecting your bank accounts with us at all times.
By indicating your acceptance of this Agreement with Citizens Bank, you are telling us that you have read and understand this entire Agreement and Disclosure Statement. If you don’t understand what you have read, or if you haven’t read it, then don’t sign up until you have read and understood it.
Here is how this Agreement and Disclosure Statement is set up. First, we set forth all of the agreements that we are entering into with you, our Customer, concerning Citizens Bank Online Banking. This Agreement contains important information that you must understand in order to effectively and safely use our online, Internet banking services. Then we describe to you various warnings that you must understand and keep in mind in using these services. We are all very excited about our Internet banking services, but you the Customer must make sure that you understand the risks and that you take all appropriate precautions.
Please take the time to read this document carefully. By clicking on the “You ACCEPT” button at the end of this Agreement and Disclosure Statement, you will be able to enroll in Citizens Bank Online Banking. We welcome you and we hope that you will always let us know how our services are working for you and how we may serve you better. Thank you for banking with Citizens Savings Bank & Trust Company.
“Account” means any one or more of your accounts (such as checking, savings, and/or money-market accounts) at Citizens Bank. “Agreement” means this Agreement and Disclosure Statement and all amendments, changes, and other modifications that Citizens Bank may issue at any time. “Citizens Bank” means Citizens Savings Bank & Trust Company. “Citizens Bank Online Banking” means the Internet banking services offered from time to time by Citizens Bank. “Citizens Bank Online Banking Accounts” means the one or more Accounts that you have with Citizens Bank that you listed in the Application that would be covered by Citizens Bank Online Banking. “Customer” means you, Citizens Bank’s customer. “Electronic Funds Transfer” means an electronic funds transfer within the meaning of Regulation E as promulgated by the Board of Governors of the Federal Reserve System (“Federal Reserve Board”), at 12 CFR 205.3(b), subject to all applicable exclusions from the definition of this term, including those at 12 CFR 205.3(c). “You” and “me” refer to you, the Customer. “Service Provider” means any service provider(s) utilized by Citizens Bank to provide, maintain, or assist with all or any part of the Citizens Bank Online Banking from time to time. “Transfer” means any transfer of funds from or to any Account(s) by using Citizens Bank Online Banking. “You” and “Your” refer to you, the Customer. “We” and “Us” refer to Citizens Bank.
2. Agreement to Terms and Conditions.
You agree with all of the terms and conditions of this Agreement and You represent to Citizens Bank that you have read and understand all of these terms and conditions. You also agree that Citizens Bank may change this Agreement as stated in item 14 below and that you may withdraw from this Agreement as stated in item 15 below. You also agree that this Agreement shall be read in conjunction with all of your other Account agreements with Citizens Bank and that those Account agreements apply to all of the Accounts that you choose to access under this Agreement. You also understand and agree that any additional instructions and procedures applicable to the services covered by this Agreement provided by Citizens Bank must also be followed.
3. What You Can Do.
Using your Customer ID and Password, you may perform any of the following services designated by you in the Application or subsequently added by you including; to transfer funds between any deposit Accounts, such as checking, savings, money market deposit accounts and loan accounts; to access balance and transaction information on your Citizens Bank Online Banking Accounts.
You understand that you must maintain sufficient funds in your Account to cover any request for transfers. If Citizens Bank completes a payment or Transfer that a Customer makes or authorizes and Citizens Bank subsequently learns that the Customer has insufficient funds for the transaction, the Customer agrees that Citizens Bank may reverse the transaction or offset the shortage with funds from any other Account that the Customer has with Citizens Bank. In any case, you the Customer are fully obligated to provide sufficient funds for any payments or Transfers that the Customer makes or authorizes.
You, the Customer, agree to strictly obey all of the rules, terms and conditions in this Agreement and You agree to use your common sense in order to protect yourself and Citizens Bank to the maximum possible extent. You understand that you should always exit Citizens Bank Online Banking after you finish viewing your Citizens Bank Online Banking Account(s) and transacting your online business. You understand that you should never leave your computer unattended while accessing Citizens Bank Online Banking. If you do, you understand that some unauthorized person may be able to access your Account(s) without needing to know or use your PASSWORD.
4. When Internet Payments and Transfers Are Made.
Payments and Transfers are not final at the time that you the Customer enter the data into the Citizens Bank Online Banking system. Citizens Bank processes all Customer transactions and Transfers as promptly as possible but these are subject to manual review and are not expected to be automatically or instantaneously completed. Each payment or Transfer that the Customer initiates on a non-business day will be considered initiated on the next following business day. Information that the Customer obtains about the Customer’s Citizens Bank Online Banking Account(s) using the Citizens Bank Online Banking system will not reflect transactions that have not yet been posted in the Customer’s Account(s). The Customer should be aware of these reporting limitations when the Customer performs or attempts to perform any transaction on the basis of such information. Funds availability shall be governed by Citizens Bank’s policies concerning funds availability, and not by this Agreement.
5. Business Days for Citizens Bank; Service Interruptions, Etc.
Citizens Bank’s business days, for its regular business as well as Citizens Bank Online Banking, are Monday through Friday during posted regular business hours, excluding holidays. Except as noted below, you the Customer may access your Citizens Bank Online Banking Account(s) through Citizens Bank Online Banking 24 hours a day, seven days a week, every day of the year. However, Citizens Bank handles the transactions in due course during regular business days. Of course, the Citizens Bank Online Banking system may be down from time to time for any number of reasons including, without limitation, maintenance, utility problems, problems encountered by our service provider(s), and other reasons. Citizens Bank cannot and does not guarantee that we will always be able to provide full-time services or that we will be able to give you notice of any temporary or permanent restriction, limitation, or termination of Citizens Bank Online Banking services.
6. Access ID and Password
All Citizens Bank Online Banking transactions or inquiries must be initiated by use of your Citizens Bank Online Banking Customer ID and Password. To access our Services you must use the password established by you for your Online Banking Customer Account. Your password should not be associated with any commonly known personal identification, such as social security numbers, address, date of birth, names of children, and should be memorized rather than written down. Anyone to whom you provide your Access ID and password will have full access to your accounts even if you attempt to limit that person’s authority. For your protection, we recommend that you do not use the same Access ID for these Services that you use on other bank or non-bank products. You are responsible to protect your Access ID and password from unauthorized access. You agree that we are authorized to act on instructions received under your password. You accept responsibility for the confidentiality and security of your password. Your account will become locked out after your third failed login attempt. You must wait 45 minutes before trying again. After your third lockout you must contact the bank for a password reset. For security reasons if you have not logged into your account within a 3 month period your online banking account will be cancelled. YOU AGREE NOT TO ALLOW ANYONE TO GAIN ACCESS TO THE SERVICES OR TO LET ANYONE KNOW YOUR ACCESS ID AND PASSWORD USED WITH THE SERVICES. YOU AGREE TO ASSUME RESPONSIBILITY FOR ALL TRANSACTIONS INITIATED THROUGH THE SERVICE WITH YOUR ACCESS ID AND PASSWORD, UP TO THE LIMITS ALLOWED BY APPLICABLE LAW.
7. Browser Security.
Citizens Bank Online Banking transmits data using Secure Socket Layer (“SSL”) technology that supports 128-bit key encryption. It is important to verify that a secure connection between your browser and the Citizens Bank Online Banking server has been established before transmitting any confidential information over the Internet.
8. You, the Customer’s, Liability for Unauthorized or Erroneous Transfer.
If your Access ID and/or password have been lost or stolen or you believe and unauthorized person is accessing your accounts, call us immediately at 615-327-9787. Telephoning us immediately is the best way of minimizing your possible losses.
To the extent that a transaction is an electronic fund transfer, you can lose no more than $50 if you notify us within two (2) business days of discovering any unauthorized use of the Services or your Access ID or password. However, you can lose as much as $500 if you do not notify us within two (2) business days of discovering the unauthorized use and we can prove that we could have stopped the unauthorized use had we been notified.
9. Incorrect Transactions on Your Statement.
In case of error or questions about your electronic transfers, notify us by calling 615-327-9787 or by writing to Citizens Bank P.O. Box 280897, Nashville, TN 37228 as soon as you can.
We must hear from you no later than sixty (60) days after we have sent you the FIRST statement on which the error or problem appeared. If you do not report unauthorized transactions made after the statement(s) are mailed or electronically transmitted to you, you risk unlimited losses on transactions made after the sixty (60) day period which would not have been lost if we had been notified in time. You can telephone us, but doing so will not preserve your rights.
In your letter, give us the following information: a. Tell us your name and account number. b. Describe 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 more information. c. Tell us the dollar amount of the suspected error. d. If the suspected error relates to a bill payment made via the Services Bill Payment function, tell us the account number used to pay the bill, payee name, the date the payment was sent, payment amount, ID number, and the payee account number for the payment in question.
For suspected deposit account errors, we will investigate your complaint and determine whether an error occurred within ten business days of receiving a notice of error. If the investigation takes longer than ten business days we may extend our investigation up to forty five days. During an extended investigation will provide you provisional credit and give you full use of your funds. We will correct the error within one business day after determining that an error occurred and report the results to you within three business days after completing our investigation including, if applicable, notice that a provisional credit has been made final.
For errors on new accounts, the time period for the initial investigation is twenty business days and the extended investigative period is ninety days.
For suspected loan transaction errors, you do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you question.
10. Additional Service.
We may from time to time, make additional services available through Citizens Bank online banking.
11. Fees and Charges.
Access to the Citizens Bank web site is currently furnished at no charge to the customer. You understand that you will be responsible for any and all applicable fees and or charges agreed upon in writing for various internet banking (ibanking) products Citizens Bank offers. You also understand that, for example, if you overdraw an account in connection with a Transfer You know that you will be subject to applicable overdraft fees, etc. Any and all pricing changes made in consideration of our making Citizens Bank online service available to you, will be provided to you with notification of the changes and when the new pricing will take effect.
You are solely responsible for all tariff, tolls, duties, or taxes imposed by government or governmental agency in connection with any transfer made pursuant to this Agreement and for all telephone charges, Internet access service charges, tolls, tariffs, and other costs for online sessions that you initiate or approve. There may be other costs and charges associated with your Account(s).
12. Errors and Adjustments.
We agree to correct any error made in crediting or debiting any account by making the appropriate adjustment to your Account balance. You agree to repay promptly any amount credited to your account in error, and you authorize us to initiate a debit transfer to any account to obtain payment of any erroneous credit.
13. Settlement of Obligation.
To the fullest extent permitted by applicable law, you authorize us to obtain payment of your obligations to us under this Agreement from time to time by (a) initiating debit or credit transfers to any of the Accounts or (b) deducting the payment from the amount of any bank transfer or loan payment. Such obligations include, without limitation, fees owed to us and settlement for bank transfers or loan payments initiated through Citizens Bank Online Banking. At the time any account is closed (whether by you, by us, or otherwise), you agree that all such obligations will be immediately due and payable to us, and you authorize us to withhold the amount of any such obligations from any Account. Debiting an Account or deducting payment from the amount of any bank transfer or loan payment is not Citizens Bank’s exclusive remedy under this or any other section of this Agreement, and Citizens Bank will not be deemed to have made an election of remedies by making any such debit or deduction on any one or more occasions.
14. Citizens Bank Changes to this Agreement – Amendments.
We may change or amend this Agreement from time to time. We agree to comply with any applicable notice provisions of applicable federal and state laws.
15. Customer Withdrawal from this Agreement.
The Citizens Bank Online Banking services are provided to you the Customer as a service. You are not obligated to participate in these online services and you may withdraw from or terminate them by written request to Citizens Bank at any time. In that event, we will take reasonable steps to terminate your participation as soon as we reasonably can. It will likely take a few days. You may want to contact us by telephone so that we can discuss any related matters with you. However, no such telephone call can change the terms of this Agreement or of this paragraph.
16. No Verbal Changes or Waivers to this Agreement.
This Agreement means what it says. Citizens Bank intends to rely on the written terms of this Agreement. If anyone tries to tell you that Citizens Bank is “waiving” or doesn’t plan to enforce any term or condition of this Agreement, don’t you believe that person. This Agreement can only be amended in writing and then only by Citizens Bank. No portion of this Agreement can be waived or changed except in writing, physically signed by an executive officer of Citizens Bank. No e-mail or other electronic type of waiver or change will be effective against Citizens Bank.
You agree that we may cancel or restrict your use of Citizens Bank Online Banking or any other Citizens Bank online service at any time upon such notice (including e-mail) as we believe is reasonable under the circumstances. You understand that participation in any Citizens Bank online service, including Citizens Bank Online Banking, is a privilege and not a right. If Citizens Bank believes for any reason that you are not acting fairly or responsibly in connection with any such services, including Citizens Bank Online Banking, we may cancel your participation in Citizens Bank Online Banking at any time, including immediately.
18. Dispute Resolution and Jury Trial Waiver.
Except as herein provided, any dispute arising from or related to this Agreement or any transactions related to this Agreement, shall be resolved by arbitration (the “Arbitration”) administered by the American Arbitration Association (the “Association”). This Arbitration shall be held pursuant to the Tennessee Arbitration Act, T.C.A. §§29-5-101, et seq., and shall be subject to the commercial arbitration rules of the Association except that the arbitrator or panel of arbitrators (in either case, individually or as a panel, the “Arbitrator”) shall be bound to apply Tennessee law and, to the extent applicable, federal law. Arbitration can be waived by conduct and it shall be deemed to be waived if, in connection with any aspect of the transaction(s) or occurrence(s) that would be related to or the subject of the Arbitration (a) any person or entity not a party to this Agreement either sues or brings some other proceeding against Citizens Bank or (b) Citizens Bank sues or brings some other proceeding against such other person or entity who or which is not a party to this Agreement. That is, neither Citizens Bank nor any Customer shall be made subject to potentially inconsistent results by having to arbitrate with the Customer or Citizens Bank while having to litigate with others related to the same transaction(s) or occurrence(s). The Arbitrator is prohibited from awarding attorneys fees, except as provided below, and from awarding any consequential, special, punitive or other type of damages other than actual damages. Thus the Arbitrator shall not award lost profits, punitive damages, or any other special damages. In the event, however, that any litigation is instituted to enforce or interpret the terms of this Agreement, you the Customer agree that the exclusive forum therefore shall be the Chancery Court for Davidson County, Tennessee. In the event that Citizens Bank is the prevailing party in any Arbitration or in any litigation, Citizens Bank shall be entitled to reimbursement for all reasonable attorneys fees and costs incurred including, but not limited to, those incurred incident to any appeal.
YOU THE CUSTOMER AND CITIZENS BANK HEREBY WAIVE THE RIGHT TO TRIAL BY JURY OF ALL DISPUTES, CONTROVERSIES AND CLAIMS BY BETWEEN OR AGAINST EITHER YOU THE CUSTOMER OR CITIZENS BANK WHETHER THE DISPUTE, CONTROVERSY OR CLAIM IS SUBMITTED TO ARBITRATION OR IS DECIDED BY A COURT. YOU, THE CUSTOMER, ACKNOWLEDGE AND AGREE THAT WITHOUT THIS JURY TRIAL WAIVER CITIZENS BANK WOULD NOT AGREE TO PERMIT YOU TO PARTICIPATE IN THE CITIZENS BANK ONLINE BANKING PRO-GRAM OR TO RECEIVE ITS ONLINE SERVICES.
19. General Terms.
Section Headings: Section headings, paragraph headings, and other captions are for the convenience of the parties only and shall not affect or limit the parties’ agreements. Regulation E. To the extent that this Agreement is deemed to be impermissibly at variance with Regulation E as promulgated by the Federal Reserve Board or other applicable law, rule or regulation, this Agreement is amended hereby to conform to such applicable law, rule or regulation, but only to the extent absolutely necessary to do so.
No Third-Party Beneficiaries: This Agreement is for the benefit of you the Customer and of Citizens Bank and it is not intended to grant, and shall not be construed as granting, any rights to or otherwise benefiting any other person, except as expressly otherwise provided in this Agreement.
Assignment: You may not assign all or any part of your rights or obligations under this Agreement without our prior express consent, which may be withheld in our sole discretion. We may assign or delegate all or any part of our rights or obligations under this Agreement, including, without limitation, the performance of the services described herein. This Agreement will be binding on and inure to the benefit of the successors and assigns of either party.
Conflict in Agreements. If this Agreement conflicts with any Account agreement(s), then the agreement having the strongest relationship with the transaction shall control to the extent of such conflict.
FEDERAL DEPOSIT INSURANCE CORPORATION
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