IPAY & SENDMONEY AGREEMENT

Transcription

1 IPAY & SENDMONEY AGREEMENT Definition of Terms Sendmoney service available in Online Banking that does not require a bill payment service P2P (Person-to-Person) Payments means the service in ipay which allows you to send funds to an outside or cell phone number. Text Banking and SMS (Short Messaging Service). It is also referred to as text messaging service. You and Your(s), mean each person who applies to use the service and each person who uses the service. The words we, our and us mean Lake Sunapee Bank and its The Nashua Bank division. ipay ipay allows you to: Pay bills online from your Lake Sunapee Bank and it s the Nashua Bank division accounts Set-up recurring payments (can be weekly, biweekly, monthly or bimonthly) Keep accurate and cumulative records of bills paid Set up tickler alerts when bills are due for payment Fees and Charges In ipay Gift Checks 2.99 each Expedited payments overnight Delivery nd Day Delivery (check payees) 4.95 Rush payment (electronic payees) Donations 1.99 each Sendmoney 2.00 per transfer Normal bank fee of $ will be charged for Stop Payments Online Bill Payment To make payments through ipay, you must request the payment from a Bank checking account, known as the Payment Account and provide information online that identifies payees. Providing sufficient information about the payee permits the Bank to properly direct a payment, and also permits the payee, upon receipt of a payment, to identify you as the payment source. To provide this information, fill in all required fields with accurate information, as directed by the Online Banking ipay screen messages. By providing us with the names and account information of those payees to whom you wish to direct payments, you authorize us to follow the payment instructions that we receive through Online Banking. When we receive a payment instruction, you authorize us to debit the Payment Account and remit funds to the payee on your behalf in the amount of the requested payment. If there are insufficient or uncollected funds in the Payment Account to make a payment, the Bank has the right to (i) decline to 9/23/13 Page 1 of 5

2 pay the item, or (ii) make the payment and collect the funds from you; or (iii) decline to pay the item and block ipay service from your account. If payments are blocked, you will be prevented from making more bill payments until the insufficient or uncollected funds condition is resolved. Any future-dated recurring payments scheduled for release during the time the account is blocked will not be sent. It is your responsibility to reschedule those payments. You may also use ipay to automatically pay bills that have a fixed frequency and amount. Once automatic bill payments are initially set-up and transmitted, they are made without having to transmit the payment again. If we receive more than one payment request that is for the same payee and the same dollar amount and scheduled for the same payment date, only the first payment request will be processed and all other identical payment requests will be rejected. ipay Cut-Off Times You may send us ipay requests on any day. However, we will not act upon and will debit your Payment Account on the next business day (Monday through Friday, excluding Federal holidays) if the payment is an immediate payment. ipay requests initiated after 3:00P.M. EST will be deemed to be received the next business day, which will be processed on the next business day from the deemed receipt by us. In cases when a recurring payment is scheduled for a non-business day, the payment is sent on the preceding business day and your Payment Account will be debited on the preceding business day. When establishing the send-on date, it s important to note that the payee will be in receipt of the payment within three to five (3 5) business days for funds remitted to a payee electronically, and seven to ten (7 10) business days if the payee is paid by check. To ensure payment by a specific due date, you should allow at least this much time for the payment to reach the payee. We are not liable for any service fees or late charges that a payee may impose. We are also not responsible for any loss or penalty that may be incurred due to lack of sufficient funds or other conditions that may prevent the withdrawal of funds from the Payment Account. The minimum amount for each ipay must be at least $1.00. No payment may exceed $100,000.00, and any request to process a transaction in excess of that amount will not be processed. You may cancel a payment request that has already been transmitted or an automatic recurring payment if the payment has not already been sent, but in order to do so, you must transmit a cancellation request through Online Banking the next process time, after you have transmitted the payment. The processing times are 3:00 P.M. EST of the business day prior to the processing date. If unable to cancel through Online Banking, you must call the Bank, or write us, in time for us to receive your request three (3) business days or more before the transaction is scheduled to be made. If you cancel through a telephone call, we may also require a written confirmation of cancellation. No Signature Requirement When using ipay, you agree that Bank may debit the Payment Account to pay checks that you have authorized or authenticated, but not signed. Submission of secured access information credentials to Online Banking will serve as the authentication for the Bank that the payment is authorized by you. You are responsible for all transfers and bill payments that are authorized using Online Banking. If you permit others to use Online Banking or are negligent in safeguarding its access IDs, Company Passwords, or any other security credentials, you are responsible for all transactions. Notify the Bank AT ONCE if you believe that there is an error or your Company ID, Company Password(s) or any other security credentials have been lost or stolen. You may telephone the Bank during business hours at we will use commercially reasonable efforts to resolve any errors or questions about your transactions. 9/23/13 Page 2 of 5

3 The Bank will not be liable to Company or any payee if: If you negligently or intentionally share any IDs, Passwords or other security identification information, or you do not report immediately any known theft of same, leading to unauthorized access to your accounts, or if you leave your computer unattended in the middle of a banking session which results in unauthorized access, If circumstances beyond our control (such as strikes, fire or flood) prevent the transaction or transfer despite reasonable precautions we have taken, If you do not sign-off after completing a banking session before visiting other Internet sites (To reduce the possibility of Trojan infections and fraud, the Bank recommends that you conduct Online Banking from a computer that does not access other third-party web sites), If your input error is the cause of a problem, If, through no fault of ours, you do not have enough money in the Payment Account to make the transfer or scheduled bill payment, If we make a timely payment, but the payee does not credit the payment promptly after it is received, If withdrawals from the Payment Account have been prohibited by a court order such as a garnishment or other legal process, If you do not maintain up-to-date anti-virus and/or malware protection and software updates on the computer used to access Online Banking, If Online Banking is temporarily unavailable, or for indirect, incidental, special, or consequential damages arising out of the use of Online Banking. P2P (Person-to-Person) Payments Agreement Acceptance By accepting this Agreement and by using P2P Payments, you agree to all the terms, conditions and notices contained in this Agreement and accept responsibility for your use of P2P Payments. Please read this Agreement carefully before accepting. We may amend these terms, and modify or cancel services and features we offer, from time to time without notice, except as may be required by law. Any Account accessed through this service is also subject to the All About Your Accounts Agreement and Disclosure, which you should review carefully, as it may include transaction limitations and fees which might apply to your use of P2P Payments. Sending Money via Online Banking P2P Payments via Sendmoney or ipay bill payment. Transfer Limits*. P2P Payments are subject to both daily and periodic transfer limits. Transfers. When a P2P Payment is made, the funds are debited from your account to provide funds to the recipient, upon the recipients acceptance. You agree that such requests constitute your authorization to us and PayPal to make the transfers. Once you have provided your authorization for the transfer, you may not be able to cancel the electronic transfer. Refused and Refunded Transactions. When you send money, the recipient is not required to accept it. You agree that you do not hold us liable for any damages resulting from a recipient's decision not to accept a payment made through the service. If a payment is unclaimed, denied or refunded for any reason, we will return the money to your Account after 30 Days of the date you initiate payment. Transaction History You may view your transaction history by logging into Online Banking and looking at your Account History. 9/23/13 Page 3 of 5

4 Errors or Questions If you have a question about an Online Banking transaction or if you believe there is an error on your statement, please call us during business hours at (Lake Sunapee Bank customers) or (The Nashua Bank customers) or write us at: Lake Sunapee Bank and its The Nashua Bank Division Attn: ebanking Customer Service Center PO Box 37 New London, NH We must hear from you no later than 60 days after we sent you the first statement on which the problem of error appeared. When you report the error Tell us your name and account number. Describe the error or 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. Tell us the dollar amount of the suspected error. We will tell you the results of our investigation within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty- five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint in writing and we do not hear from you within ten (10) business days, we may not credit your account. If we decide that there was no error, we will send you a written explanation of our findings within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. If a notice of error involves an electronic funds transfer that was initiated in a foreign location, the applicable time period for action shall be ten (10) business days and ninety (90) calendar days in place of forty-five (45) calendar days. Confidentiality We will only disclose information to third parties about your account or the transfers you make: where it is necessary for completing transfers, or to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or to comply with government agency or court orders, or-if you give us your written permission. Privacy The Bank recognizes that our customers and others visiting our online website have an expectation of privacy in their dealings with us. For these reasons, the Bank takes its responsibilities for the protection of the security and privacy of customer information seriously. Our privacy policies are described in the Bank s Privacy Notice available at any branch or on our website. Your Responsibility You are responsible for all transfers that you authorize using our Online Banking services. If you permit other persons to use the Online Banking services or your password, you are responsible for any transactions they authorize from your accounts whether or not you intended that they perform these transactions. Transactions that you initiate, or someone acting with your permission, with fraudulent intent will also be authorized transactions. 9/23/13 Page 4 of 5

5 You authorize the Bank to act on all transactions received under your User ID and password and to deduct any service charges directly from your account balance. You also agree to be liable for any account shortage resulting from charges or overdrafts. This includes liability for the Bank s costs to collect the deficit including reasonable attorney s fees. Notify us AT ONCE if you believe your Online Banking password and/or User ID has been lost, stolen, compromised, or used without your permission, or if you believe someone has discovered your Online Banking password. The best way to minimize your losses is to telephone the Bank directly. Contact in Event of Unauthorized Transfer If you believe your Online Banking password has been lost or stolen or that someone has transferred or may transfer money from your account(s) without your permission, call us during business hours at (Lake Sunapee Bank customers) or (The Nashua Bank customers) or write us at: Lake Sunapee Bank and its The Nashua Bank Division Attn: ebanking Customer Service Center PO Box 37 New London, NH Indemnification You agree to indemnify, defend, and hold us and our affiliates, officers, directors, employees, consultants, agents, P2P Payments service providers, and licensors harmless from any and all third party claims, liability, damages and/or costs (including but not limited to reasonable attorneys' fees) arising from (a) a third party claim, dispute, action, or allegation of infringement, misuse, or misappropriation based on information, data, files, or otherwise in connection with the service; (b) your violation of any law or rights of a third party; or (c) your use, or use by a third party, of ipay, or P2P Payments. Entire Agreement This Agreement, as it may be amended from time to time, together with any other disclosures or documents provided to you about your P2P Payments service and Accounts, contains the entire agreement between you and supersedes any other or oral communications and previous agreements, if any, with regard to ipay or P2P Payments. 9/23/13 Page 5 of 5