INTERNET BANKING TERMS AND CONDITIONS – As of 6/4/2015

 

Please carefully read the Internet Banking Access User Agreement for Farmers and Merchants State Bank Internet Banking below.  The agreement includes disclaimers of liability and other matters of interest to users.  By pressing the “I Agree” button, you agree to the terms and conditions of the User Agreement which include a consent to future amendments of the Agreement.  By pressing the “I Disagree” button, you will be returned to the initial log on screen.

 

If you wish to have a hardcopy of this agreement, either print a copy now, or call a Farmers and Merchants State Bank representative at 1-218-385-2300.

 

What this Agreement Covers

Farmers and Merchants State Bank (FMSB) is a locally owned, independent community bank.  The company, founded in 1916, is located in New York Mills, MN.

 

This Internet Banking Agreement between you and FMSB, where your FMSB Account is located, governs your use of FMSB Internet Banking, an electronic service that permits FMSB customers to access personal financial banking through the use of the World Wide Web.  Accounts and banking provided by FMSB that you access through FMSB Internet Banking are also governed by other agreements with you.  You may use FMSB Internet Banking to access your FMSB Accounts through the internet.  Currently, you can access your savings, checking and loan accounts.  Additional banking may be available in the future.

 

In addition to this Agreement, Online Security Statements also apply to your Accounts.  We suggest that you review these items in order to understand all of your relative rights and responsibilities in connection with your use of FMSB Internet Banking.

 

Terms Used in this Agreement

“We,” “us,” “our,” and “FMSB” refer to Farmers and Merchants State Bank, New York Mills, MN.

“You” or “your” refers to the owner of an FMSB account or your authorized representative.

“Account” refers to any deposit account or loan account maintained at an FDIC insured FMSB.

“Authorized Representative” refers to a person with authority of any kind with respect to an FMSB Internet Banking Account.

 

Accepting the Agreement

You understand that by using FMSB Internet Banking you have agreed to the terms and conditions of this Agreement and that no signature by you is required on this Agreement.  You agree to use FMSB Internet Banking solely as provided in this Agreement and the applicable online instructions.  When any transfer, payment or online service generates items to be charged to your FMSB Account, you agree that we may debit your Account without requiring your signature on the item and without prior notice to you.  We may, from time to time, introduce new FMSB Internet Banking services.  When this happens, we will update the Website to include them. 

 

Changes in Terms/Fees

We may change the FMSB Internet Banking terms, including fees, set forth in the Agreement at any time.  You will be notified of any such change as required by applicable law, either by mail or by an electronic message.  You understand that by using FMSB Internet Banking after a change becomes effective, you have agreed to it.

 

Maintaining Your Accounts

You agree to properly maintain your FMSB Accounts, to comply with the rules governing your FMSB Accounts, and to pay any fees associated with the use or maintenance of your FMSB Accounts.  Any issue relating to an FMSB Account or service with FMSB or any FMSB affiliate which you access through FMSB Internet Banking shall be governed by the law(s) specified in the agreement for that FMSB Account or service.

 

Your FMSB Accounts and loans can be viewed and accessed in FMSB Internet Banking.  The Terms and Conditions of your Account Agreements and your loan agreements will govern, except where it is noted in this Agreement.  This Agreement will control if there is a conflict with your other agreements and this Agreement for FMSB Internet Banking.  In addition, each FMSB Account and FMSB Internet Banking service is subject to the following:

·         Terms or instructions appearing on a screen when using FMSB Internet Banking,

·         FMSB’s rules, procedures and policies applicable to FMSB Accounts,

·         Rules and regulations of any funds transfer system used in connection with FMSB Internet Banking, and

·         Applicable state and federal laws and regulations.

 

Access to FMSB Internet Banking

You may access FMSB Internet Banking and your FMSB Accounts through FMSB Internet Banking to check balances, transfer funds, view transaction history, and other information.  To access your FMSB Accounts you must have a USER CODE and a PASSWORD and the required hardware and software.  You are solely responsible for having the required hardware and software and for securing an Internet service provider.  Subject to the terms of this Agreement, you will generally be able to access your Accounts at the fmbanknym.com Internet site seven days a week, 24 hours a day.  A transfer requested through FMSB Internet Banking before the transfer cutoff time on a business day will generally be posted to your FMSB Account the same day.  All transfers requested after the posted transfer cutoff time on a business day or on a day that is  not a business day, will be posted on the next business day.  Every day is a business day except Saturdays, Sundays, and banking holidays.

 

At certain times, FMSB Internet Banking may not be available due to system maintenance or circumstances beyond our control.  During these times, you may use our mobile banking system or contact FMSB in New York Mills or call 1-218-385-2300.

 

Password and User code

You will create a PASSWORD and USER CODE that will give you access to FMSB Internet Banking.  Going forward, your password can be changed online at any time for FMSB Internet Banking.  Your online password is case sensitive and must be at least 8 characters with at least two alpha characters and two numeric characters.  We recommend that you change your password regularly.

 

We are entitled to act on instructions received under your password.  For security purposes, we recommend that you memorize the password and do not write it down.  You are responsible for keeping your password and user code confidential.

 

Electronic Mail (E-mail)

You can communicate with us via e-mail.  Please remember that we will not immediately receive an electronic message sent by you.  If you need to contact us immediately, please call 1-218-385-2300.  No action will be taken on any electronic message you send to us until we actually receive your message and have a reasonable opportunity to act on it.  You cannot use e-mail to make a payment, account balance inquiry or funds transfer.  You cannot use e-mail to cancel a transfer or loan payment.  Never send us your FMSB Internet Banking user code or your password or other sensitive FMSB Account information via e-mail.

 

Account Statements

All of your daily transactions, payments, and funds transfers will appear on FMSB Internet Banking and on your Account statement(s).  You may be able to download your statement into your money manager software.  You can access transactional information for your current and previous bank statement.  You generally have up to 31 days after the last day of your previous statement to export the information.

 

Available Banking

By accessing FMSB Internet Banking, you may obtain balance information, review transaction history, and transfer funds between your FMSB Accounts.  In some instances, balances and transaction history may only reflect activity conducted through the close of the previous business day.

 

Linked Accounts

All your FMSB Accounts within an individual FMSB portfolio will be linked by means of the Social Security Number of all individual owners or Authorized Representatives authorized to access those FMSB Accounts.  Linked FMSB Accounts will appear together in FMSB Internet Banking without regard to the ownership of those FMSB Accounts.  Each owner and Authorized Representative will be able to access, view and conduct transactions in all of the linked FMSB Accounts.

 

Business Days

Our business days (“Business Days”) are Monday through Friday, except bank holidays.  Although transfers are processed by FMSB on business days only, you can initiate a transfer through FMSB Internet Banking 24 hours a day, seven days a week, except during maintenance periods.  However, the transfer may not be completed on that day.

 

FMSB Internet Banking Accounts Accessible by More than One Person

If your FMSB Internet Banking Account is owned by more than one person or is accessible by one or more authorized representative, each such owner or authorized representative may individually access those FMSB Accounts in FMSB Internet Banking.  Each owner or authorized representative needs a unique user code and password.  The terms of this Agreement will apply to each person.

 

Electronic Funds Transfer

FMSB Internet Banking enables you to transfer funds to or from your FMSB Accounts.  The Electronic Funds Transfer Act provides you with certain rights and responsibilities with respect to certain of these transfers, called “Electronic Funds Transfers” (“EFT”).

Your Rights and Responsibilities are fully described in our Electronic Fund Transfers disclosures that have been separately provided to you.

 

Your Liability

Your liability for an unauthorized EFT or a series of related unauthorized EFTs from  your FMSB Account will be determined as follows:

 

Tell us AT ONCE if you believe your code has been lost or stolen.  Telephoning is the best way of keeping your possible losses down.  You could lose all of the money in your account.  We will be liable for all unauthorized EFTs unless the unauthorized EFT was due to the loss or theft of your code.  If due to the loss or theft of your code and you notify us within 60 days of when the unauthorized EFT appears on the statement you can lose no more than $50 if someone used your code without permission.

 

If you do NOT notify us within 60 days after the unauthorized EFT appears on your statement, and we prove that we could have stopped someone from using your code without your permission if you had told us within two days of when you discover the loss or theft of your code, you could lose as much as $500 for unauthorized EFTs that appear on the statement.

 

Also, if your statement shows EFTs 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 your delay in notifying us was due to extenuating circumstances, we may extend the times specified in the immediately preceding paragraphs to a reasonable period.

 

You may notify us in person, by telephone or in writing.

 

Telephone Number and Address

Call us IMMEDIATELY if you believe that your user code or your password has been lost or stolen, or if you believe someone has transferred or may transfer money from your FMSB Account without your permission, or if you suspect any fraudulent activity on your FMSB Account.

·         1-218-385-2300

·         Or write to:    Farmers and Merchants State Bank

                                                PO Box 278

                                                New York Mills  MN  56567

 

Our Liability

Our liability to you is limited to the extent stated in any other Account and/or loan agreements, notices, and disclosures that are separately provided to you from time to time regarding your FMSB Accounts and/or this Agreement.  This section explains the complete extend of our liability to you to only to the extent that is has not been separately disclosed to you by any of these agreements, notices, or disclosures.

 

NEITHER FARMERS AND MERCHANTS STATE BANK, NOR ANY OF ITS DIRECTORS, EMPLOYEES OR AGENTS MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND REGARDING THE PERFORMANCE OR QUALITY OF THE FARMERS AND MERCHANTS STATE BANK INTERNET BANKING OR THE RESULTS THAT MAY BE OBTAINED FROM USING THE FARMERS AND MERCHANTS STATE BANK INTERNET BANKING.  FARMERS AND MERCHANTS STATE BANK SPECIFICALLY DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, WARRANTIES OF MERCHANTABILITY OR WARRANTIES AGAINST INFRINGEMENT.

 

NEITHER FARMERS AND MERCHANTS STATE BANK, NOR ANY OF ITS DIRECTORS, EMPLOYEES OR AGENTS SHALL BE LIABLE  FOR ANY DAMAGES OR LOSSES, INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, CONSEQUENTIAL, SPECIAL, INCIDENTAL OR PUNITIVE DAMAGES, RESULTING FROM OR CAUSED BY THE USE, OR ATTEMPTED USE, OF THE FARMERS AND MERCHANTS STATE BANK INTERNET BANKING SERVICE, OR ITS CONTENT, INCLUDING, WITHOUT LIMITATION, LOSSES RELATED TO:  YOUR USE, OR INABILITY TO USE, THE FARMERS AND MERCHANTS STATE BANK INTERNET BANKING SERVICE; ANY ERRORS, OMISSIONS OR DEFECTS IN ANY CONTENT; ANY INTERRUPTIONS OR DELAYS IN TRANSMISSION NOT TO THE FARMERS AND MERCHANTS STATE BANK INTERNET BANKING SERVICE; OR COMPUTER VIRUSES RECEIVED BY YOU AS A RESULT OF YOUR USE OF THE FARMERS AND MERCHANTS STATE BANK INTERNET BANKING SERVICE.  IN ANY EVENT, ANY LIABILITY OF FARMERS AND MERCHANTS STATE BANK, ITS EMPLOYEES, AGENTS, CONTENT PROVIDERS AND LICENSORS SHALL NOT EXCEED THOSE AMOUNTS SPECIFICALLY PROVIDED FOR IN THIS AGREEMENT.

 

Further, we will not be obligated to honor, in whole or in part, any transaction or instruction which:

·         is not in accordance with any term or condition applicable to the relevant service in this Internet Banking Agreement or your FMSB Account Agreement;

·         we have reason to believe may not have been authorized by you or any third person whose authorization we believe is necessary, or which involves funds subject to a hold, dispute, restriction or legal process we believe prevents their withdrawal;

·         would violate any applicable provision of any risk control program of the Federal Reserve or any applicable rule or regulation of any other federal or state regulatory authority;

·         is not in accordance with any other requirement of our applicable policies, procedures or practices; or

·         we have reasonable cause not to honor for your protection, or ours.

 

Your Indemnification

Except to the extend of FMSB’s liability pursuant to the terms of this Agreement or any other agreement or notice that otherwise governs your FMSB Account, you agree to indemnify and hold us, our directors, officers, employees and agents harmless from any and all loss, liability, claims, demands, judgments and expenses (including attorney’s fees) arising out of, or in any way connected with, your use or misuse of FMSB Internet Banking.  This indemnification is provided without regard to whether our claim for indemnification is due to the use of FMSB Internet Banking by you, or your authorized representative.

 

Termination

Unless otherwise required by applicable law, FMSB may terminate this Agreement and/or your access to FMSB Internet Banking, in whole or in part, at any time.  We may terminate or reinstate your access to FMSB Internet Banking, in whole or in part, at our discretion, at any time.  If reinstated, the current terms of this Agreement will control.  You may request reinstatement of FMSB Internet Banking by calling FMSB at 1-218-385-2300.

 

Assignment

We may assign our rights and delegate our duties under this Agreement to a company affiliated with us or to any other party.  We may also assign or delegate certain of our rights and responsibilities under this Agreement to independent contractors or other third parties.

 

Notices

UNLESS OTHERWISE REQUIRED BY APPLICABLE LAW, IN THE EVENT THAT WE ARE REQUIRED TO PROVIDE A NOTICE OR OTHER COMMUNICATION TO YOU IN WRITING, THAT NOTICE OR OTHER COMMUNICATION MAY BE SENT TO YOU ELECTRONICALLY TO YOUR INTERNET ADDRESS AS REFLECTED IN OUR THEN CURRENT RECORDS.

 

Disclosure of Information

The circumstances under which we will disclose information about you or your FMSB Accounts, has been separately disclosed to you in our disclosures which have been provided directly to you.  Our Privacy Policy may change from time to time and is always available on-line and at our banking locations.

 

Authorization to Obtain Information

You agree that we may obtain and review your credit report from a credit bureau.

 

Venue

Any action at law, suit in equity or other judicial proceeding for the enforcement of this Agreement or any provision thereof shall be instituted only in the courts of the State of Minnesota.

 

Legal Process

If we are served with any notice of lien, attachment, levy, garnishment or other legal process relating to you or your FMSB Account, we are authorized without notice to you or any joint Account Holder, except where required by law, to withhold the withdrawal or payment of so much of the funds in your FMSB Account that may be the subject of such notice or legal process.  We may disburse such amount out of your Account to a court or to such persons as applicable state or federal law either requires or permits because of such powers.  We have no liability to you for such withholding or disbursements or for refusal by us to permit withdrawals or payments against your FMSB Account because of a court order or other legal process including the return by us of items presented against your FMSB Account as unpaid that otherwise would be paid.  Any lien, attachment, levy, or garnishment against your FMSB Account is subject to our right of set-off as provided in the Agreement unless prohibited by law.  You agree to pay our costs and expenses for complying with such legal process, including legal costs and attorneys fees, costs of research and copying and administrative fees.

 

Arbitration

You and we agree that all disputes, claims and controversies between us, whether individual or joint in nature, arising from this Agreement shall be arbitrated pursuant to the Rules of the American Arbitration Association in effect at the time the claim is filed.  No act to take or dispose of any property shall constitute a waiver of this arbitration agreement or be prohibited by this arbitration agreement.  This includes without limitation, obtaining injunctive relief or a temporary restraining order.  Judgment upon any award rendered by any arbitrator may be entered in any court having jurisdiction located in Otter Tail County, MN.  Nothing in this Agreement shall preclude any party from seeking equitable relief from a  court of competent jurisdiction.  The statute of limitations, which would otherwise be applicable in any action brought by a party, shall be applicable in any arbitration proceeding, and the commencement of an arbitration proceeding shall be deemed the commencement of an action for their purposes.  The Federal Arbitration Act shall apply to the construction, interpretation and enforcement of this arbitration provision.

 

Governing Law

This Agreement will be governed by, construed and enforced in accordance with federal law and the laws of the state, which govern and are applicable to your FMSB Account.

 

FMSB Internet Banking Fees

There are currently no monthly or transaction fees for using FMSB Internet Banking.  Other fees may be assessed and billed separately by your online service provider.

 

Telephone and ISP Charges

You will be responsible for any telephone charges that you incur and any fees charged by your Internet service provider (ISP) when you use FMSB Internet Banking.