Online Banking Agreement
In order to enroll for NetTeller Online Banking, first please read our Online Banking Agreement. Then click on the AGREE button (below) to enroll. You will then be directed to an on-line enrollment form. You may also contact your account officer or call us at (662) 286-5577.
As a consumer customer of this Bank, you desire and request Commerce Bank of 306 South Cass Street, Corinth, MS 38834 to permit electronic online access to your accounts, which you own and maintain with the Bank, via NetTeller, the Bank’s Online Banking System (OBS), www.commercebk.com (Web Site). No person who is not a party to this Agreement will have any rights or interest in this Agreement. This Agreement may not be assigned by you without prior written consent by us. This Agreement, which includes the Online Enrollment Form, Fee Schedule, Privacy Principles disclosure, and Regulation E disclosure, is a contract that establishes the rules which cover your electronic access to your accounts at Commerce Bank through our Online Banking System (System). By use of the System, you agree to accept all the terms and conditions of this Agreement. Please read it carefully.
The terms and conditions of the deposit agreements and disclosures for each of your Bank accounts as well as your other agreements with Commerce Bank, such as loans, continue to apply notwithstanding anything to the contrary in this Agreement. This Agreement is also subject to applicable federal laws and the laws of the State of Mississippi (except to the extent this Agreement can and does vary from such rules or laws). 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 subsequent default or breach.
This Agreement is binding upon your heirs and the Bank’s successors and assigns. Certain of the obligations of the parties 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. This Agreement along with the related forms and disclosures constitutes the entire agreement to initiate online banking services between you and Commerce Bank.
As used in this Agreement, the words “we”, “our”, “us”, “Bank”, “CB”, and “Commerce” mean Commerce Bank. “Customer”, “you”, and “your” refer to the accountholder authorized by the Bank to use the Online Banking System under this Agreement and anyone else authorized by that accountholder to exercise control over the accountholder’s funds through System. “Account” or “accounts” means your accounts at Commerce Bank. “Electronic funds transfers” means ATM withdrawals, preauthorized transactions, point of sale transactions, transfers to and from your Bank accounts using the Online Banking System, including bill payments. “System Services” means the services provided pursuant to this Agreement. “Business days” means Monday through Friday. Holidays are not included.
We require customers to complete an initial registration process. Your registration can be completed online, in person or my mailing us the required acknowledgements and authorizations. The information on the application will identify everything we need to enable the service. Once we verify the information you submitted, you will be notified by email or by postal mail when your account will be activated.
To use the System, you must have at least one checking account at Commerce Bank, access to Internet service, and an e-mail address. Once we have received your application forms, we will send you, either by e-mail or by postal mail, your assigned Login ID and temporary password. The System can be used to access only the Bank accounts that you have designated for access by the System in your Enrollment Form. You can add or delete any of your Bank accounts from this Agreement by completing a new Enrollment Form. Access to your accounts through the System will be based upon the identification of users and authority levels specified by you in your Enrollment Form. We undertake no obligation to monitor transactions through the System to determine that they are made on behalf of the account holder.
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. 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. 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, names of children, and should be memorized rather than written down. You agree that you will be solely responsible for liability, loss, or damage, if any, resulting from the Bank’s actions, either directly or indirectly, that were made in accordance with requests or instructions received by us via the Web Site when access to your account is gained via said Web Site by use, authorized or otherwise, of your Initial Password or any subsequent Password established by you. You agree to indemnify and hold harmless Commerce Bank from any and all such liability, loss or damage.
Online Banking System Services
Upon granting your request for access to the System, you authorize Commerce Bank to honor and act upon all requests and instructions that we receive via the System with regard to your designated account(s). You assume full and sole responsibility for all requests and instructions made via the System with regard to your designated account(s). The individual terms and conditions of your account(s) will continue to apply in all respects.
We agree to use our best efforts to act upon all instructions received via the System with regard to your account(s) on the banking day of receipt, when such instructions are received prior to deadlines set by Bank, and to use any means and routes that the Bank, in its sole discretion, may consider suitable for the transmission of fund transfer requests. We may, at our discretion but not obligation, verify instructions by inquiry to you at the telephone number(s) specified by you in your account records with us. You agree to assign no responsibility to us beyond the duty to exercise ordinary care when the Bank follows the instructions received via the System.
You agree to release Commerce Bank for responsibility or liability for any inaccuracy, interruption, delay or failure in transmission, and to indemnify and hold harmless against claims based thereon, when the same are occasioned by any circumstance beyond our reasonable control, including but not limited to circumstances associated with the following: System availability, weather, power failure, communication line failures, and errors or the lack of responsiveness of other organizations or entities. We do not and cannot warrant that the System will operate without errors, or that any or all of the System will be available and operational at all times.
You can use the System to check the balance of your Bank accounts, view Bank account histories, view copies of checks, view bank statements, transfer funds between your Bank accounts, order checks, make stop payment requests, change your email address, and pay bills from your Bank accounts in the amounts and on the dates you request if you have requested the Bill Payment Service. Not all services offered on the site may be available to you. The Bank reserves the right to determine your eligibility for any product or service.
Fees and Charges
You agree to pay the fees and charges for your use of System Services, if any, as set forth in the current fee schedule. You agree that all such fees and charges will be deducted from the Bank checking account designated as the “Primary Checking Account” on your Enrollment Form. If you close your Primary Checking Account, you must contact us immediately to designate another account as your Primary Checking Account. You agree to pay any additional reasonable charges for services you request, which are not covered by this Agreement. You are also responsible for telephone and Internet service fees you incur in connection with your use of the System.
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. We agree to post notice of any extended periods of non-availability on the System website.
Your use of the System requires a compatible personal computer (with sufficient power and memory), a modem, an Internet Service Provider (ISP) and a capable browser. You recognize that the computer system which stores your account information is the property of a third party and you agree to comply with such procedures and requirements as may be established from time to time by the owner of the System or by the Bank. You agree not to disclose any proprietary information regarding the System to any third party and to comply with such security measures and recognition.
The System utilizes a comprehensive security strategy to protect accounts and transactions conducted over the Internet. Please refer to the section entitled “Commerce Bank Security Statement” for details.
You understand the importance of your role in preventing misuse of your accounts through the System and you agree to promptly examine your paper statement for each of your Bank accounts as soon as you receive it. You agree to protect the confidentiality of your account and account number, and 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 NetTeller ID are intended to provide security against unauthorized entry and access to your accounts. Data transferred via the System is encrypted in an effort to provide transmission security and System utilizes identification technology to verify that the sender and receiver of System transmissions can be appropriately identified by each other. Notwithstanding our efforts to insure that the System is secure, you acknowledge that the Internet is inherently insecure and that all data transfers, including electronic mail, occur openly on the Internet and potentially can be monitored and read by others. We cannot and do not warrant that all data transfers utilizing this System, or e-mail transmitted to and from us, will not be monitored or read by others.
The Bank assumes no responsibility, and you agree that no such responsibility shall attach to Commerce Bank to discover, audit, or report to you any possible breach in security or use of your initial Password or any subsequent Password established by you. You agree that you will promptly notify us of any security compromise, or potential security compromise, of your initial Password or any subsequent Password established by you.
Commerce Bank cannot, and does not, guarantee that downloads from the System will not contain a virus or other destructive device.
Posting of Transfers
Transfers initiated through System before 3:00 p.m. (Central Standard Time) on a business day are posted to your account the same day. Transfers completed after 3:00 p.m. (Central Standard Time) on a business day may not be posted until the next business day. Transfer requests on Saturday, Sunday or banking holiday, will be posted on the next business day. Transfers are posted to your account(s) according to the rules and regulations of the account(s) and the Bank’s Funds Availability Policy. Electronic Fund Transfers generally have immediate availability. The System identifies transfers based upon the login ID of the user who made the electronic transfer. Accordingly, you understand and acknowledge that the View Postings screens in both the Transfer and Bill Payer menu options of System will not reflect transfers made by multiple users from the same account if different login IDs are used. 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 your account has insufficient funds to perform all electronic fund transfers you have requested for a given business day, then:
a. Electronic funds transfers involving currency disbursements, like ATM withdrawals, will have priority.
b. Electronic fund transfers initiated through System that would result in an overdraft of your account
may, at our discretion, be cancelled.
c. In the event the electronic fund transfers initiated through System which would result in an overdraft of
your account are not cancelled, overdraft charges may be assessed pursuant to the terms of the deposit agreement for that account.
If your checking account is tied to a pre-approved overdraft line of credit and your transfer brings your balance below zero, your overdraft account may be activated.
Change in Terms
We may change any term to 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 21 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of the account or our electronic fund transfer system. We will post any required notice of the change in terms on the System’s Web Site or forward it to you by e-mail or 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.
Disclaimer of Warranty and Limitation of Liability
We make no warranty of any kind, express or implied, including any implied warranty of merchantability or fitness for a particular purpose, in connection with the System services provided to you under this Agreement. We do not and cannot 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 of your use of or access to System. Further, in no event shall the liability of the Bank or its affiliates exceed the amounts paid by you for the services provided to you through the System.
Your Right to Terminate
You may cancel your System service at any time by providing us with written notice by postal mail or fax. 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 and charges incurred prior to the date of cancellation.
Our Right to Terminate
You agree that we can terminate or limit your access to System services for any of the following reasons:
1. You or any authorized user of the System breaches this or any other agreement with us.
2. We have reason to believe that there has been an unauthorized use of your User ID or Password.
3. Without prior notice, if you have insufficient funds in any one of your Bank accounts. System service may be reinstated, in our sole discretion, once sufficient funds are available to cover any fees, pending transfers and debits.
4. Upon 3 business days notice, if you do not contact us to designate a new Primary Checking Account immediately after you close your Primary Checking Account.
5. Upon reasonable notice, for any other reason at our sole discretion.
We will notify you or any other party to your account that we have cancelled or will cancel this Agreement. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.
BILL PAYMENT SERVICES
Online Bill Payment Services are provided to you for your convenience, at your request. The actual payment of such bills is handled by an independent third party and the Bank cannot and will not guarantee or be held responsible for the completion and accuracy of such transactions. Commerce Bank cannot and does not guarantee that downloads from this site will not contain a virus or other destructive device. Additionally, you provide, request, and receive information from this site with the knowledge that such information can be intercepted and/or viewed by unknown third parties.
Bill Payment Services
You must designate the Commerce Bank account from which the payments are to be made; the complete name of the payee, the account number, and the payee’s remittance address, all exactly as shown on the billing statement or invoice; the amount of the payment; and the date you want the payment to be debited from your account. If the date you want the payment to be debited from your account is not a business day, your account will be debited the next business day before 2:00 p.m. (Central Standard Time). By using the Bill Payment Service option, you agree that, based upon instructions received under your password, we can charge your designated account by electronic transfer, “no signature required draft”, or by debiting and remitting funds on your behalf. You also agree that your first bill payment will be charged to your Primary Checking Account. We reserve the right to refuse to pay any payee designated by you. If we do so, we will notify you promptly.
If the payee is to be paid by paper check (as indicated on the Bill Payer list), you understand and agree that paper checks are mailed to the payee and the payee may not receive the payment until 5 to 8 business days after the date the payment is debited from your account. If the payee is to be paid electronically (as indicated on the Bill Payer list), you understand and agree that the payee may not receive the payment until 72 hours after the date the payment is debited from your account. You understand and agree that we are not responsible for the timely delivery of mail or the improper transmission or handling of payments by a third party such as the failure of the bill payment payee to properly post a payment to your account.
How to Cancel a Bill Payment
To cancel a bill payment that you have scheduled through OBS, you must cancel the payment online, by following the onscreen instructions.
We process payments made on our Bill Pay service twice a day, Monday – Friday (except holidays) at 2:00 am CT and 12:00 Noon CT. You may edit or delete a payment between Noon CT and 2:00 AM CT and between 2:00 AM CT and Noon CT.
For example, if I setup a payment today after noon to to be paid tomorrow, I would have until 2:00 am CT to edit or delete that payment. If I setup a payment prior to Noon today to process today, I would have until Noon to edit or delete that payment.
If you need help or have further questions, feel free to call us at 662-286-5577, stop by our office at 306 South Cass Street or email us at firstname.lastname@example.org. (Please do not send personal information such as your account number through email.)
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 bill payment paid by paper draft by contacting us by telephone 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 immediately process your stop-payment request. We will notify you immediately 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.
You may initiate stop-payment requests online only for paper checks you have written (non-electronically) on your Commerce Bank accounts (not bill payer paper drafts.) Online stop-payment requests are processed at 9:00 a.m. on the business day following the date 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. If you make your stop-payment request online or by telephone, we may also require you to put your request in the form of a written letter and get it to us within 14 days after you call. You will incur stop-payment charges as disclosed in the current fee schedule for the applicable account. Stop-payment charges for bill payment paper drafts may be assessed in addition to the stop-payment charges for the applicable account.
Bill Payment Fees
You agree to pay such fees as Commerce Bank may impose from time to time in accordance with our customary pricing policies and to reimburse the Bank for any direct or indirect charges or expenses incurred by Commerce Bank. Such fees shall be paid by a Commerce Bank debit to your primary access account.
COMMERCE BANK ONLINE BANKING SECURITY STATEMENT
The Online Banking System brings together a combination of industry-approved security technologies to protect data for the bank and for you, our customer. It features password-controlled system entry, a VeriSign-issued Digital ID for the bank’s server, Secure Sockets Layer (SSL) protocol for data encryption, a router loaded with a firewall to regulate the inflow and outflow of server traffic.
Secure Access and Verifying User Authenticity
To begin a session with the Online Banking server, the user must key in a NetTeller ID and a password. Our OBS system uses a “3 strikes and you’re out” lock-out mechanism to deter users from repeated login attempts. After three unsuccessful login attempts, the system locks the user out. A user who has been locked out or forgot their password may use the “Password Reset” feature on the Login page or telephone the bank for assistance. Upon successful login, the Digital ID from VeriSign, the experts digital identification certificates, authenticates the user’s identity and establishes a secure session with that visitor.
Secure Data Transfer
Once the server session is established, the user and the server are in a secured environment. Because the server has been certified as a 128-bit secure server by VeriSign, data traveling between the user and the server is encrypted with Secure Sockets Layer (SSL) protocol. With SSL, data that travels between the Online Banking System and you is encrypted and can only be decrypted with the public and private key pair. In short, the Online Banking server issues a public key to the end user’s browser and creates a temporary private key. These two keys are the only combination possible for that session. When the session is complete, they keys expire and the whole process starts over when a new end user makes a server session. Whenever, SSL is securing your communications, the browser will typically indicate the “secure session” by changing the appearance of a small padlock icon at the bottom of the screen from “open” to “locked.” What this means to you is that your communications are scrambled from your browser to the Online Banking servers at all times, so no unauthorized party can read the information as it is carried over the Internet.
Router and Firewall
Requests must filter through a router and firewall before they are permitted to reach the server. A router, a piece of hardware, works in conjunction with the firewall, a piece of software, to block and direct traffic coming to the server. The configuration begins by disallowing ALL traffic and then opens holes only when necessary to process acceptable data requests, such as retrieving web pages or sending customer requests to the Online Banking System.
During your use of the Online Banking System, the System will pass a “cookie” to your browser to identify you. We do not (and cannot) use our cookies to obtain new information about you. A “cookie” is security data given to a browser by a web server and returned by the browser on subsequent transmissions to identify the user and encryption information. When you log onto the system, this cookie enables us to process multiple transactions during the session without you having to provide your Login ID and password for each individual transaction. After a predetermined amount of time set by our security system or when you log off, the session cookie is no longer accepted and the password must be re-entered. A new cookie is used for each session, so that no one can use the cookie to access your account. For Cash Management users, a cookie may also be used to restrict access to a specific PC for conducting business transactions.
COMMERCE BANK PRIVACY PRINCIPLES – YOUR PRIVACY IS OUR PRIORITY
We have never shared nonpublic personal information except as required by law and we will continue to protect your privacy.
What Information We Collect
We may collect nonpublic personal information about you from the following sources:
Information we receive from you on applications or other loan and account forms;
Information about your transactions with us or others; and
Information we receive from third parties such as credit bureaus.
Categories of Information That We Disclose
We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law.
Disclosure As Permitted By Law
We may disclose nonpublic personal information about you to third parties to assist us in servicing your loan or account with us (for example-mortgage bankers or check printing companies), to government entities in response to subpoenas, and to credit bureaus. If you decide to close your account(s) or become an inactive customer, we will continue to adhere to the privacy policies and practices described in this notice.
Our Security Procedures
We also take steps to safeguard customer information. We restrict access to your personal and account information to those employees who need to know that information to provide products or services to you. Employees who violate these standards will be subject to disciplinary measures. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.
Special Information Applicable to Electronic (Online) Banking
Commerce Bank’s Privacy Principles will apply to customers’ confidential and private information with regard to both traditional and non-traditional (ex: Internet) banking activities. Due to the unique nature of the Internet, we feel it is important for our customers to be aware of the information security issues surrounding Online banking. To better serve legitimate Online banking customers we collect generic information about visitors to our website. This information includes the date and time of access, the Internet Service Provider’s address, the web browser used, and the visitor’s physical location. We require customers to utilize specific passwords for access to confidential information. We remind customers of their responsibility to safeguard Login IDs and Passwords. In addition, commercial customers should carefully screen those employees to whom user IDs and Passwords are granted.
We utilize encryption, firewall, router, third party verification procedures and other security software and hardware to help prevent unauthorized eavesdropping of and access to customers’ confidential information. We utilize virus protection software to help prevent the spread of computer viruses.We utilize “cookies” to help authenticate our customers’ identities and to help facilitate the exchange of information between Commerce Bank’s systems and our customers’ systems. We remind all of our customers that links in the institution’s websites can be websites not under our control. These websites will not necessarily comply with Commerce Bank’s Privacy Principles.
During your use of the Online Banking Services, the system will pass a “cookie” to your browser to identify you. A “cookie” is security data given to a browser by a web server and returned by the browser on subsequent transmissions to identify the user and encryption information. We do not (and cannot) use our cookies to obtain new information about you. When you log onto the system, this cookie enables us to process multiple transactions during the session without you having to provide your Login ID and Password for each individual transaction. A new cookie is used for each session, so that no one can use the cookie to access your account. For Cash Management users, a cookie may also be used to restrict access to a specific PC for conducting business transactions.
Our Security Procedures
We restrict access to customer information to those employees who need to know that information to provide products and services to you. All employees regard customer privacy as paramount to customer protection and satisfaction. Disregard of these requirements will result in disciplinary action, including termination in appropriate cases. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.
We continually strive to maintain complete and accurate information about you and your accounts. Should you ever believe that our records contain inaccurate or incomplete information about you, please notify us. We will investigate your concerns and correct any inaccuracies.
In addition, under the Fair Credit Reporting Act, you have the right to notify us if you believe we have reported inaccurate information about your account to any Consumer Reporting Agency. Such notices should be sent in writing and include your complete name, current address, social security number, telephone number, account number, type of account, specific item of dispute, and the reason why you believe the information reported is in error. Send your notice to: Compliance Officer, Commerce Bank, PO Box 1680, Corinth, MS 38835-1680. We will investigate your concerns and correct any inaccuracies and confirm our actions to you.
ELECTRONIC FUNDS TRANSFER
Notice of Rights and Responsibilities
Our business days are Monday through Friday. Holidays are not included.
Types of Services
You may use your NetTeller ID and Password to access the following Online Banking services:
Check the balance of your Commerce Bank accounts
View Commerce Bank account histories
View copies of checks
View bank statements
Transfer funds between your Commerce Bank accounts
Make Stop Payment Requests
Pay bills through the Bill Payment Service
Limits on Amounts and Frequency of Transactions
The number of transfers from Commerce Bank accounts and the amounts that may be transferred are limited pursuant to the terms of the applicable deposit agreement and disclosure for those accounts. Federal regulations limit the number of electronic transfers to third parties. You are limited to six (6) preauthorized transfers per monthly statement cycle, including three (3) third-party transfers, for each savings or money market account. Preauthorized transfers include those initiated via telephone, Internet or other computer access, and Point of Sale transactions. You will be charged an Excessive Transaction Fee for each transfer in excess of 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.
Fees and Charges
Our consumer fees for Online banking services are as follows:
Online banking services are free (checking your balance, viewing account histories, transferring funds, or changing your address). You may also make stop payment requests online (normal fees apply).
Bill Payment is free for consumers. For businesses, it is free for the first 15 payments per month and $.50 per payment in excess of 15 per month.
All notices from us will be effective when we have mailed them or delivered them to your last known address on our records, including electronic records. Notices from you will be effective when received by us at the telephone number or address specified in this disclosure. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty-one (21) days before the effective date of any change as required by law. Use of this service is subject to existing regulations governing your account(s) and any future changes to those regulations.
Consent to Electronic Delivery of Notices
You agree that any notice or other type of communication provided to you pursuant to the terms of this Agreement, and any future disclosures required by law, including electronic fund transfer disclosures, may be made electronically by posting the notice on the Commerce Bank website or by e-mail. You agree to notify us immediately of any change in your e-mail address.
Right to Stop Payment
If you have told us in advance to make regular payments out of your account, you can stop any of these payments. You must use the following procedure:
Notify us by telephone, write us or visit us in person, 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 will also require you to put your request in writing and get it to us within 14 days after you call. If your written request is not received within this time frame, the stop payment will be nullified.
We will charge you for each stop payment order you give. We reserve the right to change our fee schedule and to charge your account in accordance with the current fee schedule in effect at the time of your stop payment request. You will be notified of any changes in our fee schedule.
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, the Bank will be liable for your losses or damages.
If you issue a stop payment order on a recurring payment, this will in no way cancel the company’s right to debit your account. You must contact the originator to cancel your authorization agreement.
You will not receive a separate Online Banking System statement. Transfers to and from your accounts using OBS will appear on the respective periodic paper statements for your Commerce Bank accounts. If your account is subject to receiving a monthly statement, all EFT transactions will be reported on it. If your account is subject to receiving a statement less frequently than monthly, then you will continue to receive your statement on that cycle, unless there are EFT transactions, in which case you will receive a monthly statement.
In Case of Errors or Questions about Your Electronic Transfers, including Bill Payments
Contact us as soon as you can, if you think your paper statement is wrong, or if you need more information about a transfer listed on your paper statement. We must hear from you no later than 60 days after we sent the FIRST paper statement upon which the problem or error appeared. When you contact us:
(1) Tell us your name and account number.
(2) 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.
(3) Tell us the dollar amount of the suspected error.
(4) If the suspected error relates to a bill payment made via the OBS Bill Payment Service, tell us the account number used to pay the bill, payee name, the date the payment was sent, payment amount, ID number, and the payee account number for the payment in question. (This information appears on the Bill Payment View Posting Screen.)
If you contact us by telephone or by e-mail, we may require that you send us your complaint or question in the form of a written letter by postal mail or fax within 10 business days. We will determine whether an error occurred within 10 business days after you contact us 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 provisionally 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 in the form of a paper writing within 10 business days, we may not provisionally credit your account.
We will tell you the results within three (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 we have made a provisional credit, a corresponding debit will be made from your account.
If a notice of error involves an electronic fund transfer that occurred within thirty (30) days after the first deposit to the account was made, the applicable time period for the action shall be twenty (20) business days in place of ten (10) business days. If a notice of error involves an electronic fund transfer that was initiated in a foreign country, occurred within thirty (30) days after the first deposit to the account was made, or is a point of sale debit card transaction, the applicable time period for action shall be ninety (90) calendar days in place of forty-five (45) business days.
Your Liability for Unauthorized Transfers
Tell us AT ONCE if you believe your User ID or Password has been lost, stolen, used without your authorization, or otherwise compromised, or if someone has transferred or may transfer money from your accounts without your permission. 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 Password/PIN without your permission. If you do NOT tell us within 2 business days after you learn of the loss, theft, compromise, or unauthorized use of your password, and we can prove we could have stopped someone from using your Password/PIN 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 sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty (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.
If you believe that your Password/PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call (662) 286-5577 or write us at COMMERCE BANK, PO BOX 1680, CORINTH, MS 38835-1680.
Our Liability for Failure to Make a Transfer
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 when you have properly instructed us to do so, we will be liable to you for your losses or damages caused as a result. 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 a transfer.
If the money in your account is subject to legal process or other claim restricting such transfer.
If the transfer would go over the credit limit on your overdraft line.
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 transaction, despite reasonable precautions that we have taken.
Other exceptions established by us
If we have terminated our Agreement with you.
If the funds in your account are not available.
If your account is closed, or if it has been frozen.
If we have reason to believe that the transaction requested is unauthorized
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.
If you have not properly followed the on-screen instructions for using OBS.
If the transaction would exceed the security limitations on the use of your Password/PIN.
If your User ID or Password has been reported lost or stolen and you are using the reported Password/PIN or we have reason to believe that something is wrong with the transaction.
In the case of preauthorized transfers, we will not be liable where there is a breakdown of the system that would normally handle the transfer.
If you, or anyone authorized by you, commits any fraud or violates any law or regulation.
You agree that merchant authorization messages transmitted in connection with bill payment services are permissible disclosures of account information. You further agree to release the Bank and hold it harmless from any liability arising out of the transmission of these messages.
We will disclose information to third parties about your account or the transfer you make:
Where it is necessary for completing transfers or to investigate and resolve errors involving the transfer.
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 your written permission.
Communications between Commerce Bank and You
If you have questions regarding electronic fund transfers, documentation, stop payments or error resolution, you may contact us at the telephone number or address listed below. You may also contact us in person at any one of our convenient banking offices. If you believe your User ID or Password have been lost, stolen or compromised in any way or that someone has transferred or may transfer money from your account without your permission, you can communicate with us in any one of the following ways:
U.S. Mail You may write to us at:
Online Banking Department
PO Box 1680
Corinth, MS 38835-1680
You may visit us at our Main Office at 306 South Cass Street, Corinth. MS 38834
You agree that you have received a copy of the foregoing Consumer Online
Banking Agreement and Disclosures and that this Agreement contains the
entire understanding between you and the Bank. You agree to be bound by the
terms and conditions set forth now or as they may be amended from time to
time. You represent and warrant that the individual signing this Agreement
has the authority to sign and that upon signing this Agreement, it will
become a binding obligation of you. By submitting this Agreement, you also
acknowledge that you have received and read our Privacy Principles and our
Electronic Funds Transfer Disclosure. You agree that information provided in
this Agreement and on each of the applicable schedules is true and correct.
You agree to inform us promptly of any changes in any information set forth
in this or any associated schedules or forms.
|AGREE Yes, I have read and understand the Bank’s Internet Banking Agreement.||DISAGREE I do not wish to continue with the enrollment process.|