Online Banking Agreement & Disclosure Statement
MONTECITO BANK & TRUST “ON-LINE BANKER” CONSUMER AGREEMENT & ELECTRONIC FUNDS TRANSFER ACT DISCLOSURE This Agreement, which includes the Enrollment Form, is a contract by and between Montecito Bank & Trust (hereinafter referred to as “BANK”) and you (hereinafter referred to as “CUSTOMER”). It establishes the rules that cover your electronic access to your accounts at Montecito Bank & Trust through On-Line Banker, an electronic banking system (hereinafter referred to as “System”). By using System, you agree to and understand the terms and conditions below. Please read it carefully and keep a copy for your record. I. USE OF THE SYSTEM A. Definitions. As used in this Agreement, the words “we”, “our”, “us” and “Bank” mean Montecito Bank & Trust. “Customer” “You” and “your” refer to the account holder authorized by us to use the System under this Agreement and anyone else authorized by that account holder to exercise control over the account holder’s funds through the System. “Account” or “Accounts” means your account or accounts at Bank that are accessed through the System. “Electronic funds transfers” means transfers to or from your Accounts using the System, including via Bill Payment Services. “System Services” means the services provided pursuant to this Agreement, including the Bill Payment Service. “Bill Payment Service” means the services provided pursuant to the Bill Payment Agreement. Our business days are Monday through Friday (holidays not included) (“Business Days”). All times are local time (Pacific Standard Time) of Bank. B. Access. To use the System, you must have at least one checking account at Bank, access to the Internet service and an e-mail address. Your browser must have encryption capabilities at a minimum 128-bit level. You are responsible for the set-up and maintenance of your home computer and modem. You agree that we are not responsible for the set-up and maintenance of your home computer and modem. You agree that we are not responsible for any errors or failures from any malfunction of your computer or any virus or other computer problem related to the use of the Services. C. Enrollment and Accounts. Once we have received and approved your signed Enrollment Form, and verified your account information, we will send you confirmation of our acceptance of your enrollment and your assigned login ID and temporary password by U.S. postal mail. The System can be used to access only the Accounts that you are an owner or signer on. Access to your Accounts through the System will be based upon the identification of users. We undertake no obligation to monitor transactions through the System to determine that they are made by you or on your behalf. D. System Services. You can use the System to check the balance of your Accounts, view Account histories, transfer funds between your Accounts, and make stop payment requests. If you requested Bill Payment Service on your Enrollment Form and were approved, you can also use the System to pay bills (“Bill Payment”) in the amounts and on the dates you request. These Services may be subject to some limitations as described in the Bill Payment Services Agreement. The balance and the activity information that you obtain through the System are as of 6:00p.m. Pacific Time from the previous Business Day and may not reflect current transactions. Periodically during the day, however, we will be updating your current balance. Customer balance may reflect deposits not yet available to customer under the Bank’s funds availability policy, including current day deposits. Customer agrees to maintain sufficient available funds (as determined by the Bank’s funds availability policy) in each Bank account accessible via the System to cover all transfers or other requests initiated by Customer and affecting the account, or such higher amount as Bank may specify from time to time. Customer agrees funds may be held by Bank for a period of time following termination of the System to protect Bank against any possible losses relating to the use by Customer of the System. Customer grants to Bank a security interest in such funds as security to Bank for any losses or claims, whether existing or potential and whether current or reasonably anticipated to arise, arising out of Customer’s use of the System services including but not limited to Bill Payment Services. E. Hours of Access. You can use the System seven days a week, twenty-four hours a day, although some or all System Services may not be available occasionally due to emergency or scheduled System maintenance. Access may also slow due to a high volume of Internet traffic. You understand that System may be available during hours when Bank is not open for business, and thus Bank execution of any requests or instructions may be delayed until the opening of the next Business Day. Bank will not be responsible for any loss or inconveniences caused by these temporary unavailable periods. We agree to post notice of any extended periods of non-availability on the System website. F. Your Password. For security purposes, you are required to change your password upon your initial login to the System. You determine what password you will use and the identity of your password is not communicated to us. 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 and agree to change your password regularly. Some browsers allow users to save passwords; it is strongly recommended that you do NOT save your password. Upon three unsuccessful attempts to use your password, your access to the System will be revoked. To re-establish your authorization to use the System, you must contact us to have your password reset or to obtain a new temporary password or wait twenty-four hours for the system to reset the password. We recommend that you create a password that utilizes both upper and lower case alpha and numeric characters for purposes of security. Your password should not be associated with any commonly known personal identification, such as social security numbers, address, date of birth or names of children, and should be memorized rather than written down. G. Security. You understand the importance of your role in preventing misuse of your Accounts through the System and you agree to promptly (not to exceed 30 days) examine your statement for each of your Bank Accounts as soon as you receive it. You agree to protect the confidentiality of your Account information and Account numbers. You also agree to protect the confidentiality of your personal identification information, such as your driver’s license number and social security number. You understand that personal identification information by itself, or together with information related to your Account, may allow unauthorized access to your Account. Your password and login ID are intended to provide security against unauthorized entry and access to your Accounts. However, they will not protect you if this information is shared with others. Bank employees are not authorized and will not ask for your password or login ID, and you should view with suspicion anyone who does ask for any personal identifying information. Data transferred via the System is encrypted in an effort to provide transmission security. The System also utilizes encryption identification technology to verify that the sender and receiver of the System transmissions can be appropriately identified by each other. This is designed to assist your computer and our computer in identifying each other as authorized users of the System. Notwithstanding our efforts to insure that the System is secure, you acknowledge that the Internet is inherently insecure and that all data transfers (including funds transfers, Bill Payment and electronic mail) occur openly on the Internet. This means that the data transfers potentially can be monitored and read by others. We cannot and do not warrant that all data transfers utilizing the System will not be monitored or read by others. H. Fees and Charges. You agree to pay the fees and charges for your use of System Services as follows: 1. If you select Bill Payment Service, you will be charged a fee as set forth in the “Statement of Fees” schedule. The charge for Bill Payment Service is in addition to any other fees and charges that apply to your Accounts. Other Bill Pay additional charges may be assessed for correspondence to a Payee, payments returned due to customer error, proof of payment not necessitated by a dispute, and research time involving payments no longer on your screen. You will be informed of any such charges before they are incurred. 2. For certain savings accounts and money market deposit accounts, an excess transaction fee may apply to each withdrawal or transfer that exceeds the number of limited transactions you may make each statement period. These fees are described in the “Schedule of Fees” schedule. You agree that all such fees and charges will be deducted from the Bank account designated as the “Bill Payment Account” on your Enrollment Form. (If none is designated, we will treat the first-listed Account as the “Bill Payment Account.”) If you close your Bill Payment Account, you must contact us immediately to designate another account as your Bill Payment Account. You agree to pay any additional charges for Bank services you request that are not covered by this Agreement. You are also responsible for telephone, Internet service and any other third party fees you incur in connection with your use of the System. I. Posting of Transfers. Transfers completed through the System before 4:30 p.m. Pacific Time on a Business Day are posted to your Account the same day. Transfers completed after 4:30 p.m. Pacific Time on a Business Day or anytime on Saturday, Sunday or a banking holiday, will be posted on the next Business Day. The System identifies transfers based upon the login ID of the user who made the electronic transfer. You agree to communicate with any other persons with authorized access to your Accounts concerning any transfers or Bill Payments from your Accounts in order to avoid overdrafts. If a transfer request (or a request for cancellation or amendment of a transfer request) received by Bank purports to have been transmitted or authorized by Customer, it will be deemed effective as Customer’s transfer request and Customer will be obligated to Bank for the amount of the transfer request, even though the transfer request was not authorized by Customer, provided Bank acted in compliance with the Security Procedures. If a transfer request (or a request for cancellation or amendment of a transfer request) received by Bank was transmitted or authorized by Customer, Customer shall be obligated to pay the amount of the transfer as provided herein, whether or not Bank complied with the security procedure referred to in the Agreement with respect to that transfer request and whether or not that transfer request was erroneous in any respect or that error would have been detected in Bank had complied with such procedure. The amount of transfer is limited to the amount of available balance in the account on the day the transfer is requested. Customer acknowledges and agrees that if a transfer request describes the beneficiary or the beneficiary’s bank inconsistently by name and account or other identifying number, execution of the transfer request will occur on the basis of the account or other identifying number, even if it identifies a person different from the named beneficiary or beneficiary’s bank, and that Customer’s obligation to pay the amount of the transfer request to Bank is not excused in such circumstances. J. Overdrafts (Order of Payments, Transfers, and Other Withdrawals). If your Account has insufficient funds to perform all electronic fund transfers you have requested for a given Business day, then: 1. Electronic funds transfers involving currency disbursements, like ATM withdrawals, will have priority; 2. Electronic funds transfers initiated through the System which would result in an overdraft of your Account may, at our discretion, be canceled; and 3. In the event the electronic fund transfers initiated through the System that would result in an overdraft of your Account are not cancelled, current overdraft and non-sufficient fund charges may be assessed, pursuant to the terms of the deposit agreement for that Account. K. Limits on Amounts and Frequency of System Transactions. Federal regulations limit the number of certain types of transfers from savings and money market deposit accounts. Money Market deposit accounts are limited to six pre-authorized electronic fund transfers and telephone transfers (including System transactions, checks and point-of-sale transactions) per month. 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 the System from your savings or money market deposit Account is counted as one of the six limited transfers you are permitted each month. L. Using the System for Bill Payment (and Transfer) Services. With the Bill Payment Service option, you may make payments to companies or individuals you select. You may make Bill Payments in any amount up to the maximum available funds on deposit per posting day and any available credit under an attached credit facility. These funds must be in your Account on the day the Account is scheduled to be debited, and we may require you to pre-fund transactions at our option. You may pay any merchant in the United States approved by us; however we are not able to process payments to federal, state or local taxing authorities, collection agencies, security companies such as Ameritrade or court directed payment such as alimony or child support. We may refuse to process transactions that would exceed these limits. If a hold has been placed on deposits made to an Account from which you wish to transfer funds, you cannot transfer the portion of the funds held until the hold expires. By using the Bill Payment Service option you agree to the additional rules and requirements as set forth. To add a new Payee, submit in writing, Use “set up accounts/payee” on the Internet or speak to a service representative. You may add a new fixed payment to a Payee, only if the Payee is on your authorized list of payees. The Financial Institution reserves the right to refuse the designation of a Payee for any reason. The Financial Institution is not responsible if a Bill Payment can not be made due to incomplete, incorrect, or outdated information provided by you regarding a Payee or if you attempt to pay a Payee that is not on your Authorized Payee list. The Bank will process variable payments on the business day (generally Monday through Friday, except holidays) provided the payment request is received prior to the cut-off time, which is currently 1:00 pm, PST. Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. For recurring payment requests, if you designate a processing date of the 28th through the 31st of the month, processing will be initiated on the last calendar day of the month. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non-business day resulting in your payment being processed on the next business day. YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, PRIOR TO THE DUE DATE, FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE PAYEE. IT IS THE RESPONSIBILITY OF THE CUSTOMER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS. IT IS OUR RECOMMENDATION THAT ADDITIONAL DAYS BE ALLOWED FOR PAYMENTS TRAVELING MORE THAN FOUR STATES AWAY. Any Bill Payment can be changed or canceled, provided you access the Service prior to the cut-off time on the business day prior to the business day the Bill Payment is going to be initiated. M. Stop Payment Requests. Stopping the payment of a check is different from the cancellation of a bill payment. Once the bill payment has been debited from your account, you CANNOT cancel or stop a bill payment that has been paid electronically. You may be able to stop a System bill payment paid by paper draft by contacting us by telephone at 866-866-2910 before the paper draft has cleared. (You will have to contact us by telephone to determine if the paper draft has cleared.) If the paper draft has not cleared, we will process your stop-payment request. We will notify you if the paper draft has already cleared. To be effective, this type of stop-payment request must precisely identify the name of the payee, the payee-assigned account number, the amount and scheduled date of the payment, and the ID number from the Bill Payment Screen. You may initiate Stop-payment requests on-line via the System only for paper checks you have written (non-electronically) on your Bank accounts (not System bill payer paper drafts) that have not yet been paid by the Bank. Stop-payment requests are processed when the stop payment has been requested online. To be effective, this type of stop-payment request must precisely identify the name of the payee, the check number, the amount, and the date of the check. A stop-payment request received by Bank via the System will be treated by Bank as a temporary notice for stop payment. We will generate and mail to you a stop payment authorization form. We require you to send back to the bank the signed authorization form and get it to us within 14 days after you initiate the stop payment. You will incur stop-payment charges as disclosed in the current “Schedule of Fees” for the applicable account. Stop-payment charges for System bill payment drafts will be assessed in addition to the stop-payment charges for the applicable account. Any loss suffered by Customer due to Customer’s failure to accurately identify the item to be stopped in the stop-payment request will be the responsibility of the Customer and not of Bank. You understand that it is your responsibility for determining whether a check you have written from your Bank account has or has not previously paid, and not the responsibility of the Bank. At the time Customer submits a stop-payment request via the System, Customer agrees to access the appropriate account through the System, and to review prior account statements and other Customer records, and determine whether the check to which the stop-payment order relates has or has not already paid. Customer understands the System’s account history is for only the current and previous limited month’s activity. A review of prior records may be warranted in addition to using the System. Customer acknowledges that the information regarding the status of individual checks will not include transactions, including cash payments, on a check that occurs on the same banking day as the date of receipt of the stop-payment request. Customer acknowledges that a transaction search through System will not inclusively reveal whether a check has been paid until the banking day after the banking day on which the stop-payment request is received by the Bank. Any loss suffered by Customer due to Customer’s decision to issue a new or replacement check, or to take any action, based on information in the System prior to the next banking day after the banking day on which the stop-payment request has been received by Bank will be the responsibility of the Customer and not of the Bank. Customer acknowledges that a review of the System account history and of Customer’s account records may fail to reveal a check was previously paid, in which case Bank will not be responsible for any loss suffered by Customer. Bank may, but is not obligated to notify Customer if Bank determines the check was paid on the day the stop-payment request was received by Bank. If given, such notification will be made before 12:00 p.m. noon (Pacific Time) on the next business day. Otherwise, no notice will be provided to Customer by Bank. Stop-payment requests remain in effect for six months, unless renewed for a successive six-month period. After expirations of a stop-payment request, a check may be paid even though the check is “stale” or “stale dated”. Stop-payment requests may be cancelled by providing authorization to Bank or by writing Bank. Stop-payment requests are automatically cancelled when the account on which the check is drawn is closed and/or at the end of the six month term of the order (unless renewed). Under certain requirements, a holder of a check may be entitled to enforce payment against Customer even when a stop-payment request is in effect. N. Disclosure of Account Information and Transfers. You understand that information about your Account or the transfers you make may be disclosed to others. For example, we may disclose personal information to third parties: 1. If we have entered into an agreement with another party to provide any of the Services. For example, a third party servicer assists us in the processing of Bill Payment Services. In this case, we will provide that party with information about your Account, your transfers, and your communications with us in order to carry out your instructions; 2. If it is necessary for completing transfers or otherwise carrying out your instructions; 3. If it is necessary to verify the existence and conditions of an Account for a third party, such as a credit bureau, a merchant, or any holder of a check issued by you through Bill Payment. 4. In order to comply with laws, government agency rules or orders, court orders, subpoenas or other legal process or in order to give information to any government agency or official having legal authority to request such information; 5. In order to provide you with information about bank products and services that we believe will be of interest to you, 6. If you otherwise give us your written permission. We may also seek information about you from others, such as credit bureaus, in connection with the opening and maintaining of your Account, approving your access to the System or as part of our on-going relations with you. You agree and hereby authorize all these transfers of information. O. Periodic Statements. You will get a monthly Account statement. There will not be a separate statement for banking transactions you make using the System. Transfers to and from your Account using the System will appear on the respective periodic statements for your Accounts. P. Change in Terms. We may change any term of this Agreement at any time. If the change would result in increased fees for any System Service, increased liability for you, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, we agree to give you notice at least 30 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of an Account or our electronic fund transfer system. We will post any required notice of the change in terms on the Bank System website or forward it to you by e-mail or by U.S. postal mail. If advance notice of the change is not required, and disclosure does not jeopardize the security of the Account or our electronic fund transfer system, we will notify you of the change in terms within 30 days after the change becomes effective. Your continued use of any or all of the subject System Services indicates your acceptance of the change in terms. We reserve the right to waive, reduce or reverse charges or fees in individual situations. You acknowledge and agree that changes to fees applicable to specific Accounts are governed by the applicable deposit agreements and disclosures. Q. Disclaimer of Warranty and Limitation of Liability. We make no warranty of any kind, express, or implied, including any implied warranty of merchantability of fitness for a particular purpose, on non-infringement of third party rights, in connection with the System Services provided to you under this Agreement. We do not and can not warrant that the System will operate without errors, or that any or all System Services will be available and operational at all times. Except as specifically provided in this Agreement, or otherwise required by law, you agree that our officers, directors, employees, agents or contractors are not liable for any indirect, incidental, special or consequential damages under or by reason of any services, or products provided under this Agreement or by reason or your use of or access to the System, including loss of profits, revenue, data or use by you or any third party, whether in an action in contract or tort or based on a warranty. Further, in no event shall the liability of Bank and its affiliates exceed the amounts paid by you for the services provided to you through the System. Indemnification - Notwithstanding any provision of this Agreement to the contrary, Customer agrees to indemnify, defend and hold Bank harmless against any loss, damage, harm or expense (including attorney’s fees and expenses) suffered or incurred by BANK as a result of, or arising out of, action or inaction by customer or BANK under this Agreement. This Agreement is governed by the laws of the State of California. The successful party in any such action shall be entitled to recover from the unsuccessful party, in addition to any other relief to which it may be entitled, reasonable attorneys’ fees and costs incurred by it in prosecuting or defending such action. Bank has the right to provide the System Services through an affiliate or unrelated third party. In order to provide the System to Customer through this type of arrangement, Customer authorize Bank to disclose information on Customer’s account(s) and services to the affiliate or third party that provides the Services. Customer hereof may make no assignment without the consent of Bank. R. Your Right to Terminate. You may cancel your System Service at any time by providing us with written notice by postal mail or in person. Your access to the System will be suspended within 3 Business days of our receipt of your instructions to cancel the service. You will remain responsible for all outstanding fees, future scheduled Bill Payment requests, transfers and charges incurred prior to the date of cancellation. S. Communications between Bank and You. Unless this Agreement provides otherwise, you can communicate with us in any one of the following ways: -E-Mail – You can contact us by e-mail at www.montecito.com. (Please note that banking transactions through SYSTEM are not made via e-mail.) (Messages sent by e-mail, may not be secured, may be intercepted by third parties and may not be immediately received by the appropriate department of Montecito Bank & Trust.) -Telephone – You can contact us by telephone at (805) 564-7342 -Telephone-You can contact us for bill payment questions 866-866-2910 (toll free) -Facsimile – You can contact us by fax at (805) 564-4930 -Postal Mail – You can write to us at: Montecito Bank & Trust P. O. Box 2460 Santa Barbara, CA 93120-2460 Attn: Central Operations Unless another address is substituted by notice delivered or sent as provided herein. Except as otherwise expressly provided herein, any such notice shall be deemed given when sent or received by Bank. T. Automated Clearing House Entries. Electronic Bill Payment may be processed through a system known as the automated clearinghouse, or “ACH.” There are special rules that govern ACH, and they apply to your Electronic Bill Payments. 1. Compliance with OFAC Regulations. You acknowledge that the ACH Clearing House system may not be used in violation of, and that Bill Payments (both Electronic and Check) originated by you must comply with, the laws of the United States, including sanctions laws administered by the Office of Foreign Asset Controls. 2. Provisional Payments. When you send an Electronic Bill Payment, it is sent to and received by another financial institution (or, possibly, us). The receiving depository financial institution (“RDFI”) receives the ACH transaction and credits it to the account of its depositor (a “Receiver”). You agree to be bound by the provision of the National Automated Clearing House Rules making payment by the RDFI to the Receiver provisional until receipt by the RDFI of final settlement for the credit transaction. You understand that if final settlement is not received, the RDFI will be entitled to a refund from the Receiver of the amount credited and you will not be deemed to have paid the Receiver the amount of Electronic Bill Payment. You also agree that any payment by us to you for any returned Electronic Bill Payment is provisional until we receive final payment. We may delay your ability to use this provisional credit for some time. 3. Limits on Payment Amounts. As noted above, you are limited to the amount of Electronic Bill Payments in any given Business day, to a maximum of available funds in the designated account plus any available overdraft credit, unless we set a lower amount. U. Miscellaneous. This Agreement, together with the Enrollment Form, constitutes the entire agreement between you and Bank with respect to the subject matter hereof and there are no understandings or agreements relative hereto which are not fully expressed herein. The terms and conditions of the deposit agreements and disclosures for each of your Accounts, as well as your other agreements with Bank (such as for loans, deposits or other services), continue to apply except as specifically altered by this Agreement. This Agreement is also subject to applicable federal laws and the laws of the State of California (except to the extent this Agreement can and does vary such rules or laws, and excluding California rules governing conflicts of law). If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. The headings in this Agreement are for convenience or reference only and will not govern the interpretation of the provisions. Any waiver (express or implied) by either party of any default or breach of this Agreement must be in writing and shall not constitute a waiver of any other or your heirs, successors and assigns. Any of your obligations pursuant to this Agreement that by their nature would continue beyond the termination, cancellation or expiration of this Agreement shall survive termination, cancellation or expiration of this Agreement. II. SPECIAL RULES FOR CONSUMER TRANSACTIONS A. In Case of Errors or Questions about Your Electronic Transfers (including Bill Payments) On Your Statement. Telephone us at (805) 564-7342, or locate our e-mail address at www.montecito.com or write to us at P. O. Box 2460, Santa Barbara, CA 93120-2460 if you think your statement is wrong or if you need more information about a transfer listed on the statement. We must hear from you no later than 60 days after we sent the FIRST statement upon which the problem or error appeared. When you contact us: 1. Tell us your name and Account number. (Remember because third parties may intercept e-mail, we do not recommend forwarding any confidential information, i.e. account number via e-mail). 2. Describe the error or the transfer you are unsure about, including the date, and explain as clearly as you can why you believe it is an error or why you need more information. 3. Tell us the dollar amount of the suspected error. If you contact 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 after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your Account within 10 Business Days 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. We will tell you the results within 3 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. If a provisional credit was issued, you will be required to pay that amount back to the Bank. B. Financial Institution’s Liability. If we do not complete a transfer to or from your Account (including a Bill Payment) 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: 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 any electronic terminal, telecommunication device, or any part of the System was not working properly and you knew about the breakdown when you started the transfer. 4. If circumstances beyond our control (such as fire, flood, interruption in telephone service or other communication lines), prevent the transfer, despite reasonable precautions that we have taken. 5. If a legal order directs us to prohibit withdrawals from the Account. 6. If your Account is closed or if it has been frozen. 7. If you, or anyone authorized by you, commits any fraud or violates any law or regulation. 8. If you have not provided us with complete and correct payment information for the Bill Payment Service, including, without limitation, the name, address, your payee-assigned account number, payment date, and payment amount for the payee on a bill payment. 9. If you have not properly followed the on-screen instructions for using the System. There may be other exceptions in our agreements with you. C. Your Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your password has been lost or stolen, or that someone has transferred or may transfer money from your Account without your permission, or if you suspect any fraudulent activity on your Account. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your Accounts (plus your maximum overdraft line of credit, if any). If you do NOT contact us within 2 Business days after you learn of the loss, theft or unauthorized use of your password, and we can prove we could have stopped someone from using your password without your permission if your 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 lose 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. D. Reporting Unauthorized Transactions. You should notify us immediately if you believe your password has been lost or stolen, or that someone has transferred or may transfer money from your Account without your permission, or if you suspect any fraudulent activity on your Account. You may notify us by e-mail, telephone, fax, and mail or in person at anyone of our five branches. E. Documentation. If you have arranged to have direct deposits made to your Account at least once each 60 days from the same person or company, the person or company making the deposit will tell you every time they send us the money. In addition, you can call us or use the System to find out whether or not the deposit has been made. F. Preauthorized 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 payment you have authorized, call us at (805) 564-7342 or write to us P. O. Box 2460, Santa Barbara, CA 93120-2460 in time for us to receive your request 3 Business Days or more before the payment is scheduled to be made. (In some cases, we may be able to process a stop-payment request made with less advance, as described above.) If you call us, 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 the current stop-payment charge for each stop-payment order you give. If these regular payments may vary in amount, the person you are going to pay will tell you, ten (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. G. Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one of these payments three (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. H. This Section II does not apply to transfers to and from Business Accounts. Business Accounts are Accounts established primarily for other than personal, family or household purposes. It also does not apply to electronic funds transfers that are not governed by the Electronic Fund Transfers Act (“EFTA”). For example, electronic fund transfers through FedWire or a similar wire transfer system, or where the primary purpose is for the purchase or sale of securities, are not covered by the EFTA.
Printable Online Banking Agreement