Agreement and Electronic Funds Transfer Disclosure
This Agreement and Disclosure provides information about the Commercial Trust Online service and contains the disclosures required by the Electronic Funds Transfer Act.
For the purpose of this document, "I," "me," "my," and "mine" shall refer to each Depositor who signs up for Commercial Trust Online. "You," "your," or "Bank" shall refer to the financial institution at which the Depositor has the deposit account accessed through Commercial Trust Online. All references to time of day in this Agreement and Disclosure refer to Eastern Standard Time.
A. Commercial Trust Online Service
Commercial Trust Online is a consumer electronic banking service. I may access Commercial Trust Online through Commercial Trust's web page on the Internet.
B. Designation of Primary Account
I understand that in order to use Commercial Trust Online, I must have a checking account and an automated teller machine card (ATM card) with Commercial Trust Company. The checking account must be designated as my "primary" account on the ATM Card and will be treated as the "primary" checking account for transactions accomplished through Commercial Trust Online.
C. Banking Day
Commercial Trust's business days are all days except Saturdays, Sundays, and federal holidays.
D. Service Available through Commercial Trust Online
The Commercial Trust Online Home Banking service allows me to:
1. Transfer funds electronically (Transfers);
2. Obtain account information;
3. Obtain certain Commercial Trust product and service information; and
The Commercial Trust Online Home Banking and Bill Payment service allows me to (in addition to the Home Banking functionality):
4. Access my designated account(s) to pay most bills (Bill Payments);
Collectively, these are referred to as the " Commercial Trust Online service".
E. General Information About Commercial Trust Online:
I may use Commercial Trust Online virtually any time, day or night, 7 days a week. However, Commercial Trust Online may be temporarily unavailable due to Commercial Trust record updating, or technical difficulties. In addition, access to Commercial Trust Online is made available pursuant to a license agreement by and between Commercial Trust and Online Resources & Communications Corporation. Any interruption of service or access caused by Online Resources will also prevent my use of the service. To utilize the services, I will need to enter my assigned PIN or Service Password and otherwise satisfy the system's security procedures.
F. Transaction Procedures
Bill Payments and Transfers may be processed in three different transaction modes. They are as follows:
G. Bill Payments:
I must allow sufficient time (2 or 5 business days, as indicated) for Commercial Trust Online to receive my request and process the Bill Payments so that the funds can be delivered to the payee before the payment due date, or for mortgage payments, on or before the due date (the due date shown on my invoice or provided in my agreement with the payee, not taking into account any grace period provided by the payee). If I do not allow sufficient time, I will assume full responsibility for all late fees, finance charges, or other actions taken by the payee. If I schedule my payment with sufficient time, and the payment was not received by the payee, or was received late, Commercial Trust Online Customer Service will assume responsibility.
Commercial Trust is responsible only for exercising ordinary care in making payments upon my authorization and for mailing or sending a payment to the designated payee. Commercial Trust is not liable in any way for damages I incur if I do not have sufficient funds in my account to make the payment on the processing date, if the estimate of time to allow for delivery to the payee is inaccurate, or due to delays in mail delivery, changes of merchant address or account number, the failure of any merchant to account correctly for or credit the payment in a timely manner, or for any other circumstances beyond the control of Commercial Trust.
Commercial Trust Online Customer Service will attempt to notify me by telephone on the Scheduled Initiation Date if a Bill Payment is not processed because there are insufficient funds available in my account. Commercial Trust is not responsible if Commercial Trust Online customer service is unable to reach me, whether or not this is due to events beyond the control of Commercial Trust Online customer service. Moreover, to take advantage of this service, I must keep Commercial Trust Online Customer Service aware of any changes in my current home or business phone numbers. In all cases, I am responsible for either making alternate arrangements for the payment, or rescheduling the payment through Commercial Trust Online. In no cases will you automatically resubmit a payment for me after funds have become available.
Transfers designated as "Future" or "Recurring" transactions will be processed by 9:00 A.M. of the Scheduled Initiation Date for provisional credit (i.e. for Commercial Trust Online Bill Payments, and cash withdrawals at ATMs or banking centers), and will post and be available by the next banking day for payment of non-Commercial Trust Online transactions. If the Scheduled Initiation Date falls on a weekend or holiday, the transfer will occur on the next banking day. Future-dated transfers may be changed or canceled until of the night before the processing date.
I. Limitations on Services
J. Stopping or Modifying Commercial Trust Online Authorized Payments:
Payments designated as "Today" transactions cannot be stopped, canceled, or changed once my Commercial Trust Online session is terminated. Except as stated below, in order to request a stop payment or change a Commercial Trust Online transaction designated as "Future" or "Recurring," I must use Commercial Trust Online and follow the instructions provided to me. I must cancel the payment or transfer using Commercial Trust Online by of the day before the scheduled processing day.
I understand you will only accept a verbal or written notice to stop a Commercial Trust Online transaction if it relates to a payment designated as "Recurring" and only if the notice is received at Commercial Trust Online Customer Service (at the address and phone number listed in paragraph R of this Agreement and Disclosure) no later than three business days before the scheduled date of the payment or transfer. If I call, you may also require me to put my request in writing and get it to you within fourteen days after I call. The notice must detail whether the cancellation applies to only one of the recurring transactions, or all transactions in the recurring stream. I understand that my written notice will only be accepted at the address and phone number listed in paragraph Q of this Agreement and Disclosure.
If I request a cancellation of a transaction as set forth above and you do not do so, you will be liable for the damages caused as explained in paragraph R.
K. Authorization To Charge Accounts.
I authorize you to charge my designated account(s) for any transactions accomplished through the use of Commercial Trust Online, including the amount of any Bill Payment or Transfer that I make, and any charges for the service. I understand that in adding a payee or maintaining a payee list, even if no payments are scheduled, I am electing to use the full Home Banking and Bill Payment service and therefore will be charged accordingly. I authorize you to process Bill Payments and to transfer funds according to the instructions you receive if the instructions are received from me through Commercial Trust Online. I authorize you to initiate any reversing entry or reversing file, and to debit my accounts at Commercial Trust or elsewhere, in order to correct any mistaken credit entry. I understand that if a Bill Payment or Transfer request describes the beneficiary inconsistently by name and account number, execution of the request will occur on the basis of the account number, even if it identifies a person different from the named beneficiary. My obligation to pay the amount of the Bill Payment or Transfer to Commercial Trust is not excused in such circumstances.
L. Account Information; Electronic Notice
I may check the balance(s) of the Commercial Trust accounts that are linked by access through Commercial Trust Online. (NOTE: the balance figure may not reflect recent transactions, and may include funds which are not subject to immediate withdrawal.) I may get a listing of transactions posted to my primary checking account since my last monthly statement, and may get general account information for all accounts linked by access through Commercial Trust Online.
You will automatically deduct the service fee from my primary checking account beginning 30 days from the date of application, unless a different date is agreed to. You will continue to charge my account monthly on the same day (or the next banking day if the due date falls on a weekend or holiday), until the service is discontinued. You may give me the option to change the day on which you will charge me the monthly service fee.
N. Security Procedures.
A Service Password will be issued to me for security purposes. I understand that this password will be used only the first time I access the service, when I then will define a new, permanent Service Password. The Service Password is confidential and should not be disclosed to third parties. I am responsible for the safekeeping of the Service Password. I agree not to disclose or otherwise make the Service Password available to anyone not authorized to sign on my accounts.
I represent that I have considered the security procedures of the Commercial Trust Online services and find that the security procedures are commercially reasonable for verifying that a Bill Payment, Transfer or other communication purporting to have been issued by me is, in fact, mine. In reaching this determination, I have considered the size, type and frequency of Bill Payments, Transfers or other communications that I anticipate issuing to Commercial Trust.
If the Commercial Trust Online security procedures are not, in my judgment, commercially reasonable, I must inform you within 30 days. In the size, type and frequency on my Bill Payments and Transfers change, and the result is that the Commercial Trust Online security procedures cease to be commercially reasonable, I must also inform you of this within 30 days.
O. Liability for Unauthorized Use:
I will notify you immediately if I believe that my PIN or Service Password has become known to an unauthorized person, or if my ATM Card has been stolen. Telephoning is the best way of keeping my possible losses to a minimum. If I suggest that an unauthorized transfer or payment may have occurred, you may require me to sign an affidavit.
I could lose all the money in my deposit account(s) accessed through Commercial Trust Online if I don't inform you that my PIN or Service Password has become known to an unauthorized person or that my ATM Card has been lost or stolen. If I tell you within two business days after I learn of the loss or theft, I can lose no more than $50.00 if an unauthorized person used my PIN or Service Password and ATM card to access Commercial Trust Online without my permission.
If I do not tell you within two banking days after I have learned that my PIN or Service Password has become known to an unauthorized person or that my ATM Card has been lost or stolen, and you can prove that I could have stopped someone from using my PIN or Service Password and ATM without my permission if I had told you, I could be liable for as much as $500.00.
Also, if my statement shows electronic funds transfers that I did not make, I will notify you immediately. You may require me to provide my complaint in the form of affidavit. If I do not tell you within 60 days after the statement was mailed to me, I may not get back any money I lost after the 60 days if you can prove that you could have stopped someone from taking the money if I had told you in time.
If a good reason (such as a long trip or a hospital stay) kept me from telling you, you will extend the time periods.
P. Notification of unauthorized transaction or a lost or stolen access device
If I believe my ATM Card has been lost or stolen, my PIN or Service Password have become known by an unauthorized person, or that someone has transferred money or made payments without my permission, I will call the Commercial Trust Online Customer Service at (877) 864-5427.
Q. Liability for Failure To Make Payments:
If you do not send a payment or make a transfer on time, or in the correct amount according to my instructions given in accordance with this Agreement and Disclosure, you will be liable for damages caused. However, there are some exceptions. You will not be liable, for instance, if:
There may be other exceptions stated in your agreement with me.
If any of the circumstances listed in subparagraph 3) or 4) shall occur, you shall assist me with reasonable efforts in taking appropriate corrective action to reprocess the transactions that may not have been completed or to correct transactions that have incorrectly been processed.
R. Errors or Questions:
I will telephone you at (660) 248-2222 or write Commercial Trust, Attention: Customer Service Department, PO Box 471, Fayette MO 65248 as soon as I can, if I think my statement or receipt is wrong or if I need more information about a Bill Payment or Transfer listed on the statement or receipt. You must hear from me no later than 60 days after you send the statement on which the problem or error appeared. A statement is considered to have been sent when it is first made available. I must:
If I tell you verbally, you may require that I send my complaint or question in writing within ten business days. You may require me to provide my complaint in the form of an affidavit.
You will inform me of the results of your investigation within ten business days (20 business days if the suspected error occurred outside the United States or if it occurred at a merchant location for the purchase of goods and services) after you hear from me and will correct any error promptly. If you need more time, however, you may take up to 45 calendar days (90 days if outside the United States or if it occurred at a merchant location for the purchase of goods or services) to investigate my complaint or question. If you decide to do this, you will recredit my account within ten business days (20 business days if the suspected error occurred outside the United States or if it occurred at a merchant location for the purchase of goods or services) for the amount I think is in error, so that I will have the use of my money during the time it takes you to complete your investigation. If you ask me to put my complaint or question in writing and you do not receive it within ten days, you may not recredit my account.
If you determine that there is no error, you will send me a written explanation within three business days after you finish your investigation. I may ask for copies of the documents that you used in your investigation.
If I believe an error other than an electronic funds transfer problem has occurred concerning a deposit account or if I have a problem regarding a credit account accessed by an ATM Card, I will refer to my monthly statement for instructions regarding how to have you resolve my question or correct an error.
S. Account Information Disclosure:
You will disclose information to third parties about my account and the payments or transfers I make:
T. Documentation And Verification of Payments and Transfers:
U. Other Conditions:
I am responsible for complying with all terms of this Agreement and Disclosure and the regulations governing the deposit accounts which I access using Commercial Trust Online. You can terminate my Commercial Trust Online privileges without notice to me if I do not pay any fee required in this Agreement and Disclosure when due or if I do not comply with those agreements. The regulations governing my deposit account are set forth in your Deposit Agreement and Disclosures, a copy of which is available from any branch location.
V. Change In Terms
We will mail or deliver a written notice to you at least 21 days before the effective date of any change in a term or condition disclosed in this Agreement and Disclosure, if the change would result in increased fees or charges, increased liability for me, fewer types of available electronic fund transfers or stricter limitations on the frequency or dollar amounts of transfers, unless prior notice is excused by law.
W. Schedule of Service Charges
A monthly fee of $5.75 will be automatically debited from my primary account
for the use of Commercial Trust Online Bill Payer. This fee will begin the next
month following the addition of a payee in the bill payer service. To
discontinue this service and fee I must delete all payees in the bill payer
service and notify Commercial Trust Customer Service in writing that I wish to
discontinue the service at: Commercial Trust Customer Service,
* Per item transaction fees may be charged for excess debit transactions on selected checking and savings account(s). Please refer to the Commercial Trust's Service Charge Schedule for per-item fees on selected checking or savings accounts.