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Internet Banking
Agreement |
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____________________________________________________________________________________ Asian
Bank has expanded its banking services to utilize the convenience
and efficiency of Internet technology. You (“Customer”)
understand that the terms set forth are in addition to those that
apply to any other accounts that a Customer has with Asian Bank or
any other service a Customer thereafter obtains from Asian Bank.
Customer further understands that any additional instructions and
procedures applicable to the services covered by this Agreement
provided by Asian Bank must also be followed. Now,
therefore, in consideration of the mutual promises and covenants
contained herein, and for the other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Asian
Bank and Customer hereby agree as follows: 1.
Initial access To
activate Customer's Internet Banking service, Customer must have at
least one active account with Asian Bank. To access ABdirectNet,
Customer will initially use a temporary Log on ID as established by
Asian Bank. Customer will enter a new Log on Access ID and password
during the first connection online with banking information. The
Log-on ID must be six (6) characters, and is case sensitive. The
password criteria is as follows: Minimum
Password Length
6 Maximum
Password Length
16 Number
of Alpha Characters Required _______3 Number
of Numeric Characters Required _____3 Passwords
are case sensitive and can be changed at any time by the account
holder through our Internet Banking Service; Customer
shall take all reasonable and necessary precautions online to
protect Access ID and password, such as not leaving the computer
unattended while online; not sending over any public or general
E-mail systems; and not giving or disclosing any part of the ID or
password to any other party. Customer understands that anyone to
whom Customer gives the password will have full access to
Customer’s accounts. You should carefully select a password that
is hard to guess. (We suggest that you do not use names, dates, and
information that may easily be guessed.) For security purposes, we
recommend that you memorize the password and do not write it down. 2.
Customer Liability Customer
shall immediately notify Asian Bank in person or by telephone at
(215) 592-1188 if customer believes that his/her ID, password, or
other means of access may have 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. Asian
Bank must receive written notice two (2) business days after
Customer learns of such adverse event. If notice is timely given,
Customer
shall be responsible for no more than $50.00 in losses resulting
from unauthorized access. If Customer does not tell us within 2
business days after Customer learns of the loss or theft of
Customer’s card and / or code, and we can prove we could have
stopped someone from using Customer’s card and / or code without
Customer’s permission if Customer had told us, Customer could lose
as much as $500.00. Also, if your statement
shows transfers that you did not make, tell us at once. If you
do not tell us within 60 days after the statement was mailed to you,
you may not get back any money you lost after the 60 days if we can
prove that we could have stopped someone from taking the money if
you had told us in time. If a good reason (such as a long trip or a
hospital stay) kept you from telling us, we will extend
the time period. 3.
Using Customer Log-on and password, Customer may use Internet
connection to: ·
Perform account inquiries on
checking, money market, savings, certificate, and loan accounts ·
View statement transaction
detail on your accounts ·
Transfer of funds between
Asian Bank deposit and/or loan accounts ·
Download files to your
financial management software (Microsoft Money, Intuit Quicken, Intuit QuickBooks, or even
Microsoft Excel) 4.
Hours of Accessibility Access
to the system is open 7 days a week, 24 hours a day. Only minimal
downtime is expected for maintenance, upgrades, and processing;
however, the System may be unavailable or slowed from time to time
due to factors beyond our control, such as high Internet traffic. 5.
Fees and Charges ·
We do not charge for
Internet Banking Features. · Normal bank fees will be assessed for completed stop payments. ·
Normal check printing fees
will be assessed when check orders are processed. 6. Stop Payment Orders You may initiate stop payment(s) on check(s) drawn on your eligible linked accounts via on-line instructions to the Bank. This on-line feature cannot be used to stop payment on a preauthorized electronic fund transfer (ACH), a paper draft, or a series or range of checks. To be effective, your stop-payment order must precisely identify the number, amount of the item and the payee. When we receive a stop payment order in this manner, you authorize us to follow the stop payment instructions that we receive on-line via access that was gained through the use of your access codes and to debit your account for the stop payment fee in accordance with the Bank’s current schedule of fees. Always verify that the check has not been paid by reviewing the most recent account statement before placing a stop payment. We must receive your stop payment order in time to give us a reasonable opportunity to act on it before our stop payment cutoff time or before we have paid the item, whichever occurs first. We are not obligated to honor your stop payment order if we have already paid the item before we receive your instructions, such as might occur if we cashed the item at a teller window or issued a money order against the item. Stop Payment requests are valid for a period of six (6) months unless you instruct us to cancel it or renew it. You may cancel a stop payment at any time, at the Bank. We may pay the check if it is presented to us after the stop payment expires. 7.
Internet Transfer of funds Customer
must maintain sufficient available funds in accounts to cover any
request for transfers. If Asian Bank completes a payment transfer
that Customer makes or authorizes and Asian Bank subsequently learns
that Customer has insufficient funds for the transaction, Customer
agrees that Asian Bank may reverse the transaction or offset the
shortage with funds from any other account Customer has with Asian
Bank. In any case, Customer is fully obligated to provide sufficient
available funds for any payments or transfers Customer makes or
authorizes. Transfers
are final at the time Asian Bank receives Customer’s instructions.
Asian Bank will make transferred funds immediately available to the
affected accounts. Your transfer instructions must be received by
the Bank no later than 4:30 P.M. on any Business Day (“the Cut-Off
Time”) in order for the transaction to be completed on that
Business Day. Each
transfer initiated on a non-business day or legal bank holiday will
be considered initiated on the next ensuing business day. Transfers
can only be made between accounts for which you are an authorized
signer. Limitations
on Transfers. If your
account is a savings or money account, transfers from the account
are limited in accordance with the deposit account agreement
governing that account. In general, transfers through Internet
Banking will count towards a maximum of six transfers allowed from
the account in any statement cycle. If you exceed these limits, we
may convert your account to a demand deposit account. Payments to
your loan accounts may not count towards these limits. These
limitations on frequency of transfers do not apply to transfers
between checking accounts. Periodic
Statements. ·
You will get a monthly
account statement from us for your checking account(s). ·
You will get a monthly
account statement from us for your Savings account, unless there are
no electronic transfers in a particular month. In any case, you will
get a statement at least quarterly.
8.
Canceling the Service: To
cancel ABdirectNet service, Customer must contact Asian Bank in
writing or by E-mail to notify of Customer’s decision to cancel. Asian
Bank reserves the right to cancel or suspend Customer’s service at
any time without notice due to insufficient funds or improper usage
of the service. After cancellation, service may be reinstated, at
the sole discretion of Asian Bank, upon Customer’s request,
provided that funds are available to cover the cost of any fees or
pending transfers. Asian
Bank may cancel Customer’s service at any time for any account,
which has not been accessed by Customer for a period of three (3)
consecutive months. 9.
Limitations on Bank Liability: Liability
for failure to make transfers.
If we do not complete a transfer to or from your account on time or
in the correct amount according to our agreement with you, we will
be liable for your losses or damages. However, there are some
exceptions. We will NOT be liable, for instance: (1)
If, through no fault of
ours, you do not have enough available funds in your account to make
the transfer. (2)
If you have an overdraft
line and the transfer would go over the credit limit. (3)
If the terminal or 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 or flood) prevent the transfer, despite
reasonable precautions that we have taken. (5)
If you have not completely
and properly followed the terms of the Agreement or instructions
provided by the software regarding how to make an electronic fund
transfer. (6)
If any date or instruction
transmitted via our web site are inaccurate or incomplete. (7)
There may be other
exceptions stated in our agreement with you. Access:
Asian Bank shall not be responsible for failure to provide access or
for interruptions in access due to system failure or due to other
unforeseen acts or circumstances. 10.
Customer’s Computer Equipment or Software:
Asian Bank shall not be responsible for any errors or failures
resulting from any malfunction of Customer’s computer or any
computer virus or other problems related to Customer’s computer
equipment used in connection with the services described in this
Agreement. Asian Bank shall not be liable for any error, damages or
other losses Customer may suffer due to malfunction or
misapplication of any system used by Customer, including, but not
limited to, browsers (Microsoft Explorer, Netscape Navigator, or
otherwise), Internet service providers (ISP), personal financial
management or other software (such as Quicken or Microsoft Money),
or any equipment used (including telecommunications facilities,
computer hardware and modem) by Customer to access or communicate
under this agreement. 11.
Error Resolutions: In
case of Errors or Questions About Your Electronic Transfers, Call us
at (215) 592-1188 or write to us at Asian Bank, 1008 Arch St,
Philadelphia, PA 19107, as soon as you can, 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 on which the problem or
error appeared. (1)
Tell us your name and
account number. (2)
Describe the error or the
transfer you are unsure about, and explain as clearly as you can why
you believe it is an error or why you need more information. (3)
Tell us the dollar amount of
the suspected error.
If you tell us orally, we may require that you send us your
complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days
(20 business days if the transfer involved a new account) after we
hear from you and will correct any error promptly. If we need more
time, however, we may take up to 45 days (90 days if the transfer
involved a new account, or a foreign-initiated transfer) to
investigate your complain or question. If we decide to do this, we
will credit your account within 10 business days (20 business days
if the transfer involved a new account) for the amount you think is
in error, so that you will have the use of the money during the time
it takes us to complete our investigation. If we ask you to put your
complaint or question in writing and we do not receive it within 10
business days, we may not credit your account. An account is
considered a new account for 30 days after the first deposit is
made, if you are a new customer.
We will tell you the results within three business days after
completing our investigation. If we decided 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. 12.
Other Provisions Electronic
Notice: By Customer’s
consent to this Agreement, Customer consents that Asian Bank may
send notices by electronic mail (E-mail). Customer may use E-mail to
contact Asian Bank about inquiries, maintenance, and/or some problem
resolution issues. Customer understands that E-mail may not be a
secure method of communication. Asian Bank recommends that no
confidential, personal or financial information be sent by E-mail.
There may be times when you may need to speak with someone
immediately, especially to report a lost or stolen PIN, or to stop a
payment. In these cases, do not use E-mail. Instead, call Asian
Bank’s office at (215) 592-1188. The lobby is open Monday through
Friday from 9:00 AM to 5:30 PM and on Saturday and Sunday from 10:00
AM to 3:00 PM. Ownership
of Website: The content,
information and offerings on our website are owned by Asian Bank,
and the unauthorized use, reproduction, linking or distribution of
any portions are strictly prohibited. Other
Sites: This site may
contain links to other sites on the Internet. These would be
provided for your convenience. Links to another site do not
constitute Asian Bank’s approval or endorsement of that site or
its products or advertisements. Amendments:
From time to time, we may amend any part of this Agreement,
including our fee structure. We will provide you with advance notice
of changes in Fees and Charges, or if otherwise required by law. In
other cases, we may provide you with notice either before or after
the change. Termination:
We reserve the right to terminate this Agreement and your access to
ABdirectNet at any time with or without prior notice. Entire
Agreement: This
Agreement sets forth the entire agreement between the parties, and
it shall supercede all prior understanding or agreements between the
parties, whether written or oral. END OF AGREEMENT
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