MIDDLETOWN VALLEY BANK FREE Online Banking & FREE Online Bill Payment

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1 For New Online Banking or Bill Payment Enrollment, please read and accept our Terms and Conditions by completing the following form. Completed forms may be delivered to any MVB branch, faxed to , or mailed to: Middletown Valley Bank P.O. Box 75 Middletown, MD "We", "us", and "our" mean Middletown Valley Bank. "You" and "your" mean each depositor who establishes an Online Banking service with us or is authorized to use an Online Banking Identification Number and Online Banking Password or other means of access which we establish or approve. The term "Online Banking" refer to our service that allows you to transfer funds, access accounts, obtain information, and perform other transactions over the internet, including optional Online Bill Payment service, by use of a compatible personal computer (with sufficient power and memory) and/or other means which we now authorize or may allow from time to time. This agreement states the terms and conditions that apply when you use our Online Banking service. These terms and conditions are in addition to those terms and conditions that apply to any accounts you have with us or any other services you obtain from us. You are also required to follow all of our instructions and procedures, including the material in our User Guides, applicable to the services covered by this agreement. This agreement shall be governed by and interpreted under Maryland and federal law. We reserve the right to amend or terminate the Online Banking service at any time. You agree that the account security is controlled by the Online Banking Identification Number assigned by us, together with the Online Banking Password chosen and entered by you. You will be requested to change your password the first time you enter the Online Banking service. You can change your password at any time through the Account Management section of the Online Banking service. You are responsible for all transactions that you or any authorized user makes. We define an authorized user as anyone accessing the system with a valid Identification Number and Password. You will be responsible for the security and control of your Online Banking Identification Number and Password from the time you receive them via the United States Postal Service. If you have given someone your Online Banking Identification Number and Password and want to terminate that person's authority, you must change your identification number and Password or take additional steps to prevent further access by such person. You agree to protect the password and hold us harmless from unauthorized use. Any information downloaded by you to your financial or other software becomes your property and responsibility. You agree that the provisions of joint account ownership apply to the Online Banking service if the account(s) being accessed is jointly owned and agree that each owner authorizes the other to use the Online Banking service. You acknowledge that transaction limitations, as described in the Truth in Savings disclosure you received when you opened your deposit account(s) or subsequently thereafter, apply to transfers from savings or money market accounts. Federal regulation limits transfers to six per statement cycle when initiated by telephone, electronic, or other pre authorized means. You acknowledge that an "excess transaction" fee, as disclosed in our Fee and Service Charge schedule, will apply to transactions that exceed the transaction limitation. By completing and signing this Online Banking application, you acknowledge receiving and reading the Electronic Funds Transfer disclosure. This regulation will govern your protective rights. ONLINE BANKING PASSWORD REQUIREMENTS: Online Banking passwords should meet the following criteria: Minimum password length of 8 and maximum length of 12 Password will require at least: (1) Alpha Character, (1) Numeric Digit and (1) Special Character Passwords cannot be one of 4 previously used passwords For enhanced security, MVB recommends Online Banking customers change their passwords every 90 days

2 ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES The Electronic Fund Transfers we are capable of handling for consumers are indicated below, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference. TRANSFER TYPES AND LIMITATIONS Terminal Transfers. You may use your card and/or code to make: Cash withdrawals from checking accounts. Cash withdrawals from savings accounts. Deposits to checking accounts. Deposits to savings accounts. Transfers of funds between checking and savings accounts upon request. Point of sale debit transactions from checking and savings. Inquiries on account information on checking and savings accounts. Some of the services may not be available at all terminals. You do not have the right to stop payment on any point of sale transaction or on any transaction you perform at an Automated Teller Machine. Prearranged Transfers. You may arrange for us to: Accept certain direct deposits to your checking account. Accept certain direct deposits to your savings account. Pay certain recurring bills from your checking account in the amounts and on the days you request. Pay certain recurring bills from your savings account in the amounts and on the days you request. Computer Transfers You may access your account(s) by computer at and using your Online Banking Internet Banking ID and Online Banking Internet Banking PIN to: Transfer funds from checking to savings. Transfer funds from savings to checking. Transfer funds from checking to checking. Transfer funds from savings to savings. Get information on checking and savings accounts. You may also initiate third party transfers by using your Online Banking Internet Banking ID and PIN to access the optional PowerPay Internet Bill Payment Service. Telephone Transfer You may access your account(s) by telephone at using a touch tone phone, your account numbers, and PIN to: Transfer funds from checking to savings. Transfer funds from savings to checking. Transfer funds from checking to checking. Transfer funds from savings to savings. Get information on checking and savings accounts. Electronic Fund Transfers Initiated By Third Parties You may authorize a third party to initiate electronic fund transfers between your account and the third party's account. These transfers to make or receive payment may be one time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and financial institution information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your financial institution and account information (whether over the phone, the Internet, or via some other method) to trusted third parties with whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to: Electronic check conversion. You may authorize a merchant or other payee to make a one time electronic payment from your checking account using information from your check to pay for purchases or pay bills. Electronic returned check charge. You may authorize a merchant or other payee to initiate an electronic fund transfer to collect a charge in the event a check is returned for insufficient funds. Limitations on frequency of transfers. You may make 6 (six) transfers and or withdrawals from your account per statement cycle. These may be made by transfer to another account in this financial institution or to a third party by means of a preauthorized or automatic transfer, telephonic agreement, order or instruction, or by check, draft, debit card or similar order.

3 Limitations on dollar amounts of transfers. Middletown Valley Bank ATM Card The limit for ATM cash withdrawals and Point of Sale transactions initiated with the Middletown Valley Bank ATM Card is $300 per business day. Middletown Valley Bank Visa Debit Card You may debit your checking account for up to $1,000 each business day with an aggregate limit of $2,000 over a 4 day period. The limit for ATM cash withdrawals initiated with the Middletown Valley Bank Visa Debit Card is $300 per business day. Middletown Valley Bank PhoneTeller Bank by Phone Transfers through our PhoneTeller Bank By Phone bank by phone are unlimited in frequency and dollar amount. FEES We charge $1.50 per transaction or balance inquiry at ATMs we do not own or operate. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer). Statements transmitted through PhoneTeller Bank By Phone are $2.00 per statement. Except as indicated above, we do not charge for Electronic Funds Transfers. DOCUMENTATION Terminal Transfers. You will get a receipt at the time you make any transfer to or from your account using one of our terminals. This receipt will provide a record of the account accessed, date, amount, type of transaction, and the location of the terminal used. Preauthorized Credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at the telephone number listed below to find out whether or not the deposit has been made. Point of Sale Transactions. A receipt will be provided at the time you initiate a POS transaction. This receipt will provide a record of the account accessed, date, amount, type of transaction, and the location of the terminal used. In addition, you will get a monthly account statement from us, unless there are no transfers in a particular month. You will get a quarterly statement from us on your savings account if the only possible electronic transfer to or from the account is a preauthorized deposit. PREAUTHORIZED PAYMENTS Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how: Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request 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 14 days after you call. We charge $35.00 for each stop payment. Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. DEPOSITS AT A MIDDLETOWN VALLEY BANK ATM Deposits made at a Middletown Valley Bank ATM will be credited to your account during the regular posting of that day's business. Items deposited are subject to verification by Middletown Valley Bank. All transactions after 3:30 p.m. on any day will be posted as of the next business days date. After 3:30 p.m. on Friday, all transactions will be posted on Monday. OWNERSHIP OF ATM CARD Middletown Valley Bank ATM/Visa Debit cards are the property of the bank and shall be surrendered at any time upon request. ATM/VISA CARD ACCESS AND PERSONAL IDENTIFICATION NUMBERS (PIN) When used with an ATM/Visa Debit card, the customer's PIN acts as the customer's signature, identifies the bearer of the card to the ATM, and authenticates and validates the directions given the same as an actual signature. The PIN in combination with the ATM/Visa Debit card is a security method by which the bank prevents unauthorized access to the customer's accounts. The customer, therefore, agrees to take all reasonable precautions to prevent unauthorized persons from learning their PIN. These precautions include but are not limited to: Not telling or disclosing the PIN to other persons; Not writing the PIN on the ATM/Visa Debit card; Not keeping a written record of the PIN in close proximity to the ATM/Visa Debit card. DIRECT DEPOSITS If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, the bank is authorized to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

4 FINANCIAL INSTITUTION'S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: If, through no fault of ours, you do not have enough money in your account to make the transfer. If the transfer would go over the credit limit on your overdraft line. If the automated teller machine where you are making the transfer does not have enough cash. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken. There may be other exceptions stated in our agreement with you. CONFIDENTIALITY We will disclose information to third parties about your account or the transfers you make: where it is necessary for completing transfers; in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; in order to comply with government agency or court orders; if you give us written permission. UNAUTHORIZED TRANSFERS Consumer Liability. Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than $50 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code 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 statement 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. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this disclosure. ERROR RESOLUTION NOTICE In case of errors or questions about your electronic transfers, call us at (301) or write us at Middletown Valley Bank, P.O. Box 75, Middletown, MD 21769, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. Tell us your name and account number (if any). 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. Tell us 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 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 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 10 business days, we may not credit your account. An account is considered a new account for 30 days after the first deposit is made, if you are a new customer. 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. BUSINESS DAYS: MONDAY THROUGH FRIDAY, EXCLUDING FEDERAL HOLIDAYS MIDDLETOWN VALLEY BANK DEPOSIT OPERATIONS 24 WEST MAIN ST. P.O. BOX 75 MIDDLETOWN, MD (301) PhoneTeller Bank By Phone:

5 CUSTOMER INFORMATION: First Name Last Name Social Security Number of Birth Home Phone Number Street / P.O. Box City State Zip Code Address (valid address required) Work Phone Number Cell Phone Number ACCOUNT INFORMATION: Please designate below the accounts to be accessed by Online Banking: (Example: Joint; # ; Checking Account) NOTE: To authorize Internet access to any joint account or multiple signature required account, all account owners signatures are required. We will verify the authorized signers to the information currently on file. If there are any discrepancies, Online Banking access will be delayed, as you will be contacted regarding the discrepancy. To avoid any potential delay, make sure all necessary signatures are included at the end of this application. Account / Loan Ownership MVB Account / Loan Number Account/Loan Type (Individual / Joint) (DDA, SAV,CD, MTG,,etc) By signing below, you acknowledge that you have read the Online Banking Application and Agreement, including the optional free Internet Bill Payment Service, User Guides, and Electronic Funds Transfer Disclosure. SIGNATURES ARE REQUIRED FOR ALL ACCOUNT OWNERS OF ONLINE BANKING DESIGNATED ACCOUNTS. Teller Stamp/Initials IS USE ONLY: Online Banking ID#: Initials:

6 OPTIONAL FREE ONLINE BILL PAYMENT SERVICE INFORMATON: Please select below your intention for MVB s free Online Bill Payment Service. Upon receipt of your signed application, which contains your election for the free Online Bill Payment service, you will be sent a confirmation letter informing you the free Online Bill Payment Service has been activated for your Online Banking ID Number. You are responsible for all transactions that you or any authorized user make or authorize, even if the person you authorize exceeds your authority. We define an authorized user as anyone accessing the service with a valid Identification Number and PIN. You will be responsible for the security and control of your Online Banking Identification Number and PIN from the time you receive them via United States Postal Service. If you have given someone your Online Banking Identification Number and want to terminate that person's authority, you must request a change to your Identification Number and PIN or take additional steps to prevent further access by such person. You agree to protect your Online Banking Identification Number and PIN and hold us harmless from unauthorized use. You authorize MVB to deduct payment transactions generated by the Online Bill Payment service from the MVB checking account(s) designated below. If at any time, you decide to discontinue this service, you must provide written notification to us. If we decide to discontinue or amend this Online Bill Payment Service, including any fees, we will notify you. MVB reserves the right to cancel your Online Bill Payment Service if you do not use the service for three consecutive months. You understand that payments may take up to 10 business days to reach the payee and payments will be sent either electronically or by check. We are not liable for any service fees or late charges incurred by you, if you do not provide timely, complete and accurate information or if you do not properly follow our instructions. You also understand that you are responsible for any loss or penalty incurred due to insufficient funds or other conditions that may prevent the posting of payments from your account. PLEASE MARK ONE: Yes, I would like to sign up for the FREE Online Bill Payment Service and I agree to the terms stated above. No, I decline to sign up for the FREE optional Online Bill Payment Service. MVB Checking Account Number(s) (Your bills can be paid from these MVB checking accounts) Required Code Word (For verification purposes, such as Mother s Maiden Name) By signing below, you acknowledge that you have read the Online Banking Application and Agreement, including the optional free Bill Payment service, User Guides, and Electronic Funds Transfer Disclosure. SIGNATURES ARE REQUIRED OF ALL ACCOUNT OWNERS OF ONLINE BANKING DESIGNATED ACCOUNTS. IS USE ONLY: Online Banking ID#: Initials: