Online Banking Agreement

WHAT THIS AGREEMENT COVERS

 

This Internet Banking Agreement (“Agreement”) contains the terms and conditions that apply when you use Internet Banking Services offered to you by RiverWood Bank.  This Agreement is subject to applicable federal laws and the laws of the State of Minnesota (except to the extent this Agreement can and does vary from such rules or laws). 

 

You may use our Internet Banking Services to access your Accounts through the internet.  The Services section below describes the Internet Banking Services available for your use and governed by this agreement.

 

Definitions

As used in this Agreement, the words “you”, “your” and “yours” refer to the account holder authorized by RiverWood Bank to use Internet Banking Services under this Agreement and anyone else authorized by the account holder to exercise control over the account holder’s funds through Internet Banking Services. 

The words “we”, “us”, and “our” mean RiverWood Bank. 

The word “Authorized Representative” refers to a person with authority of any kind with respect to an Account, an Internet Banking Service, or any transaction.

The word “Account(s)” means any one or more accounts you have with RiverWood Bank, including deposit or loan accounts.

The words “Internet Banking Services” or “Service(s) means the services provided pursuant to this Agreement, and may include Online Banking and Online Bill Pay, along with any service available to you when using Online Banking and Online Bill Pay.

The word “Payee” means anyone, including the Bank, you designate and the Bank accepts as a payee.

 

Accepting this Agreement

You understand that by using Internet Banking Services you, jointly and severally, agree to the terms and conditions of this Agreement and any amendments, and that no written signature by you is required on this Agreement.  Clicking “I Accept” constitutes your acceptance of this Agreement.  You agree to use these Services solely as provided in this Agreement and any applicable online instructions.  When any transfer, payment, or Service generates items to be charged to your Account, you agree that we may debit your Account without requiring your signature on the item and without prior notice to you.

 

Your Accounts and Account Agreements

Each RiverWood Bank product you have with us is called an “Account”.  Accounts include deposit and loan accounts.  Your Accounts will continue to be subject to the agreements otherwise governing them, except where it is noted in this Agreement.  Joint Account Owners have the right to any information or to make any request associated with their account.  Please refer to the Account agreements and disclosures previously provided to you.  In addition to this Agreement and any other Account agreements, the terms and conditions of our Privacy Statement, Security Statement, and Electronic Funds Transfer disclosure continue to apply to your Accounts.

 

 In addition, each Account and Internet Banking Service shall be subject to the terms or instructions appearing on the screen when using an Internet Banking Service; our policies and procedures that apply to each Account and Internet Banking Service; the rules and regulations of any funds transfer system used in connection with an Internet Banking Service; and applicable state and federal regulations and laws.

 

Change in Terms/Fees

We may change Internet Banking Services and the terms, including fees, set forth in this Agreement at any time.  We will notify you of any such changes, as required by applicable law, either by mail or by an electronic message.  When you use the Services as they change or become available, you agree to the rules governing those Services, including any changes.

 

Account Access

To use Internet Banking Services, you must have an Account at RiverWood Bank, and access to internet services.  You are solely responsible for having the required hardware and software and for securing an internet service provider. 

 

You will generally be able to access your Accounts at www.riverwoodbank.com, seven days a week, 24 hours a day.  We will not be responsible for any errors or failures involving any telephone services, internet service, software installation or your computer.  To access Internet Banking Services, you must have an Access ID and Password. 

 

At certain times, Internet Banking Services may not be available due to system maintenance or circumstances beyond our control.  If this occurs, you may obtain information about your Accounts at any of our RiverWood Bank locations or via an automated teller machine “ATM”. 

 

Security of Access ID and Password

You are responsible for transactions and other activities that occur using your Access ID and Password, including those transactions and activities that may be initiated by anyone using your Access ID and Password.  You are responsible for keeping your Access ID and Password confidential, and for ensuring that you have logged out when your session is complete to prevent unauthorized persons from accessing your information.  We are not obligated to monitor transactions through Internet Banking Services to determine that they are made on behalf of the account holder. 

 

Contact us immediately if you believe that your Password, your computer or software has been lost or stolen, or that someone may attempt to use your Internet Banking Services without your consent by calling (888)751-5120, or fax us at (218)824-8402 or e-mail us at internetbanking@riverwoodbank.com.  We may request that you provide us with a written statement which could be mailed to us at:  RiverWood Bank, Internet Banking, PO Box 2947, Baxter, MN 56425 

 

No Illegal Use

You agree not to use RiverWood Bank’s Internet Banking Services to conduct any business or activity or solicit the performance of any activity, which is prohibited by law or any contractual provision by which you are bound.  You agree to comply with all applicable laws, rules and regulations in connection with Internet Banking Services. 

 

You agree to provide true, accurate, current and complete information about yourself as requested, and you agree to not misrepresent your identity.

 

Electronic Mail (E-mail)

One way of communicating with us is by sending an e-mail.  Internet Banking Services provide forms for you to contact us.  Never send us your Access ID, Password, social security number or other sensitive account information in an e-mail.  We may not immediately receive e-mail communications that you send, and we will not take action based on e-mail request until we actually receive your message and have a reasonable opportunity to act.  You cannot use e-mail to initiate transactions on your accounts.  If you need to contact us immediately, please call us at (888)751-5120.  See our Security Statement and Online Security Tips for more information on the use of e-mail. 

  

SERVICES

 

ONLINE BANKING SERVICE

Services and Account Accessibility

By accessing Online Banking at www.riverwoodbank.com you may access your Account information, including balance information and transaction history, initiate transfers between your Accounts, make payments on your loans, and initiate loan advances on your lines of credit.  The balances and transaction information that you obtain through Online Banking is current through the close of business on the preceding business day. 

 

You may have an option to perform a scheduled transfer, payment or advance.  These transfers can be scheduled the same day, at scheduled intervals, or any time in the future.  If you wish to perform a transfer on the same day you must use the “Transfer Now” or “Express Transfer” function completed prior to the cutoff time of 6:00 p.m. (Central Time).  All requests completed after the transfer cutoff time will be posted on a day that is considered the next business day.   If you choose to transfer for a future date, use the “Scheduled Transfer” function, which may take up to two business days after you initiated the request. All transfer, payment or advance requests provided by you will be handled according to your instructions with the options available and governed according to the terms, conditions and rules which apply to funds transfers.

 

All your Accounts will be linked by means of the name of all individual owners or Authorized Representatives who have authority to access those Accounts and the portfolio number associated with the accounts.  Each owner will be able to access, view and conduct transaction in all of the linked Accounts.  If your Account(s) is owned by more than one person, or is accessible by one or more Authorized Representatives, each needs a unique Access ID and Password.  The terms of this Agreement will apply to each person.  Transactions involving your deposit accounts will be subject to the terms of your account agreement and transactions involving loan accounts will be subject to your loan agreement and disclosures, if applicable.

 

Access ID, Password and Security

You must use a confidential Access ID and Password to access Online Banking services.  During your first logon session, you will be required to change both your Access ID and Password.  Your Access ID is case sensitive, and must be a minimum of 8 and a maximum of 17 characters.  Once you have selected your Access ID you will not be allowed to change it.  The Password must be a minimum of 8 and a maximum of 17 characters, and must include 2 numbers and 2 letters.  We recommend that you change your Password periodically.  The Access ID and Password rules are designed to protect you.  You are responsible for maintaining the confidentiality of your Access ID and Password.  You agree not to disclose or otherwise make your Access ID and Password known to anyone.  For security purposes, we recommend that you memorize your Access ID and Password and do not write them down. 

 

In addition to your Access ID and Password we have added an additional layer of security to the authentication process.  When enrolling in Online Banking you will be asked to select an Authentication Image and Passphrase.  The Image and Passphrase helps you recognize that you’re at the valid RiverWood Bank Online Banking site, rather than a fraudulent site. The Authentication Process also requires you to select 3 challenge questions when enrolling and the option to register your computer. If you do not register your computer, we will ask you one of your challenge questions or send you a one time passcode to log-in.  You will then be asked if you want to register your computer so we will recognize it in the future.  You do not want to register a computer that is shared or is not owned by you.  If you choose to have a temporary passcode sent to you, it will be sent to the email address that you have previously specified.  It is your responsibility to update your email address in the Online Banking site if it has changed.  Due to certain email spam filters and restrictions by your email provider the message may be blocked or filtered out.   

 

You can reset your Online Banking Password at anytime by selecting the ‘Forgot Password’ link on the Online Banking Password page.  When you select this link a temporary password will be sent to the email address that you have previously specified.  It is your responsibility to update your email address in the Online Banking site if it has changed.  Due to certain email spam filters and restrictions by your email provider the message may be blocked or filtered out.  Once you have logged in with your temporary password you will be required to change it at your next log in.

 

Business Days

Our business days are Monday through Friday, except bank holidays.  Transfers and bill payments are processed by us on business days only.  You may contact us to inquire if a given holiday is determined by us to be a business day.

 

Statements

You will continue to receive your regular bank statements for all of your checking and savings and line of credit accounts.  All of your daily transaction activity and payment transfers will also appear on Online Banking and on your Account statement(s) that will be mailed to you.

 

Check Images

Images of the front and back of deposits, checks, or additional documents that posted to your Checking, Savings, or Money Market account are available through online banking at no charge along with your transaction information.  Some transaction images may not be available due to the type of item or situations that resulted during processing.

 

BILL PAYMENT SERVICES

 

Refer to Appendix A for important information relating to Bill Payment Services

 

ELECTRONIC FUNDS TRANSFER FOR CONSUMERS

APPLICABILITY - The provisions in this section apply only to electronic fund transfers (an “EFT”) that debit or credit a consumer’s checking, savings or other asset account and are subject to the Federal Reserve Board’s Regulation E. 

YOUR LIABILITY – Your liability for an unauthorized EFT or a series of related unauthorized EFTs will be determined as follows:

  1. If you notify us within two business days after learning of the loss or theft of your password, your liability will not exceed the lesser of $50 or the amount of unauthorized EFTs that occur before notice to us.
  2. If you fail to notify us within two business days after learning of the loss or theft of your password, your liability will not exceed the lesser of $500 or the sum of:
  3.          -  $50 or the amount of unauthorized EFTs that occur within the two business days, whichever is less; and

             -  the amount of unauthorized EFTs that occur after the close of two business days and before notice to us, provided we establish that these EFTs would not have occurred had you notified us within that two-day period.

  4. You must report an unauthorized EFT that appears on a periodic statement within 60 days of our transmittal of the statement to avoid liability for subsequent transfers.  If you fail to do so, your liability will not exceed the amount of the authorized EFTs that occur after the close of the 60 days and before notice to us, and that we establish would not have occurred had you notified us within the 60-day period.  You may, as applicable, also be liable for the amounts described in the immediately preceding sections 1 or 2 above. 
  5. If you delay in notifying us was due to extenuating circumstances, we will extend the time specified in the immediately preceding paragraphs 1, 2 or 3 above to a reasonable period. 
  6. You may notify us in person, by telephone, by fax, or in writing. 

TELEPHONE NUMBER AND ADDRESSES – The telephone number and address of the person or office to be notified when you believe that an unauthorized EFT has been or may be made are:

          (888)751-5120, Monday through Friday, 8:00 a.m. to 5:00 p.m.

RiverWood Bank

Customer Service Department

PO Box 458

Bemidji, MN 56619

               

LIABILITY

 

YOUR LIABILITY

You authorize us to credit or charge your Accounts for all payments and transfers initiated through any Internet Banking Service under your Access ID and Password.  You are liable for all of these transactions and for all unauthorized transactions to the extent permitted by applicable state and federal law.

 

OUR LIABILITY

Our liability to you is explained in any agreements, notices and disclosures that we separately provide to you from time to time regarding your Accounts and Internet Banking Services. This section explains our liability to you only to the extent that our liability has not been separately disclosed to you by any of these agreements, notices, or disclosures. 

 

IN NO EVENT WILL WE HAVE LIABILITY FOR ANY CONSEQUENTIAL, SPECIAL, PUNITIVE OR INDIRECT LOSS OR DAMAGE WHETHER OR NOT ANY CLAIM FOR SUCH DAMAGES IS BASED ON TORT OR CONTRACT OR WE KNEW OR SHOULD HAVE KNOWN THE LIKELIHOOD OF SUCH DAMAGES IN ANY CIRCUMSTANCES.

 

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

  

YOUR INDEMNIFICATION

 

Except to the extent that we are liable under the terms of this Agreement or any other agreement or notice, you agree to hold us, our directors, officers, employees and agents harmless from all loss, liability, claims, demands, judgments and expenses arising out of or in any way connected with your Accounts or the performance of an Internet Banking Service.  This indemnification is provided without regard to whether our claim for indemnification is due to the use of Internet Banking Services by you or your Authorized Representative.

  

GENERAL PROVISIONS

                               

Disclosure of Information

The circumstances under which we will disclose information about you or your Accounts, have been separately disclosed to you in our Privacy Statement which has been provided separately to you and is available at www.riverwoodbank.com.

 

Termination

You agree that we may terminate this Agreement and/or your access to Internet Banking Services, in whole or in part, at our discretion, at any time.  If you do not access your Accounts via Online Banking for any three (3) month period, we may terminate your service.  If an Internet Banking Service is considered inactive, you must contact us to have the Service activated.  If you wish to cancel any of your Internet Banking Services, contact RiverWood Bank at (888)751-5120 or send cancellation instructions to:

 RiverWood Bank, Internet Banking, PO Box 2947, Baxter, MN 56425. 

 

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. 

 

Governing Laws

This Agreement shall be governed by and construed in accordance with all applicable federal laws and all applicable laws of the State of Minnesota.  You understand that we must comply with these laws, regulations and rules.  You agree that if there is any inconsistency between the terms of the Agreement and any applicable law, regulation, or rule, the terms of this Agreement will prevail to the extent any such law, regulation, or rule, may be modified by agreement between us.

 

Fees

There are no monthly fees for accessing Online Banking.  Certain fees may apply for Bill Pay services.  Additional fees including but not limited to account research, transfers, or stop payment orders will be assessed as published in RiverWood Bank’s Service Fee Schedule.  Other fees may be assessed and billed separately by your internet and/or telephone service provider.  The fees that have been separately disclosed to you in connection with your Account(s) will continue to apply to those Account(s).

 

APPENDIX A:

 

THIRD PARTY SERVICES

 

Third Party Services.  From time to time, we may make services provided by providers other than us (“Third Party Providers”) available to you for access through Online Banking (“Additional Services”).  If we do so, you will be given the opportunity to access the Additional Services after you accept the related terms and conditions we will make available to you (a “Service Agreement”).  We make no warranty with respect to the Additional Services or the Third Party Providers. You agree to hold us harmless for any loss or damage you may incur by your use of the Additional Services. 

 

Bill Pay Service.  The Bill Pay service is an Additional Service that is accessed securely through Online Banking.  You may use the Bill Pay service to pay anyone in the United States from your Account(s), and have access to some electronic bills, according to the terms and conditions of the Service Agreement relating to the Bill Pay service.  When you enroll for the Bill Pay service you will be required to accept the Service Agreement before you can begin using the service.  Questions and inquiries regarding payments initiated through the Bill Pay service may be directed to the Third Party Provider.  Contact information for the Third party Provider is provided within the Bill Pay service. 

 

Liability

You are solely responsible for controlling the safekeeping of and access to, your Access ID and Password.  You are liable for all transactions you make or that you authorize another person to make even if that person exceeds his or her authority.  You will be responsible for any Bill Payment request you make that contains an error or is a duplicate of another Bill Payment.  We are not responsible for a Bill Payment that is not made if you did not properly follow the instructions for making a Bill Payment.  We are not liable for any failure to make a Bill Payment if you fail to promptly notify us after you learn that you have not received credit from a Payee for a Bill Payment.  We are not responsible for your acts or omissions or those of any other person, including, without limitation, any transmission or communications facility, and no such party shall be deemed to be our agent.  In any event, we will not be liable for any special, consequential, incidental, or punitive losses, damages, or expenses in connection with this Agreement or the Service, even if we have knowledge of the possibility of them.  We are not liable for any act, failure to act or delay in acting if it is caused, in whole or in part, by any cause beyond our reasonable control.

 

Amendment and Termination

We have the right to change the Bill Pay Agreement, and the Internet Banking Agreement, at any time.  We will notify you of any such changes, as required by applicable law, either by mail or by an electronic message.  When you use the Services as they change or become available, you agree to the rules governing those Services, including any changes

 

We have the right to terminate this Agreement at any time.  If you do not access Online Bill Pay services for 90 days, we may terminate your service.  You may terminate this Agreement by written notice to us.  We are not responsible for any fixed payment made before we have a reasonable opportunity to act on your termination notice.  You remain obligated for any payments made by us on your behalf.  

 

Fees for Online Bill Pay Services

Bill Pay is free for 90 days.  After 90 days, the standard bill pay fee is $5.00 per month and includes unlimited monthly payments.  The monthly fee will be assessed to your RiverWood Bank checking account.

 

The monthly fee is waived for customers with the following checking account products:

Consumer – eStudent Checking, Now Checking, Elite Checking, Elite 50 Checking and Reward Checking

Business – Small Business Checking, Small Business Checking with Interest, and Analyzed Business Checking

 

Certain optional services are available in the Bill Pay service.  Some additional fees may apply for these optional services.  Any applicable fees for optional services will be disclosed to you when accessing the optional services. 

 

Other Fees

Additional fees including but not limited to overdraft fees, insufficient funds fees, account research, transfers, or stop payment orders will be assessed as published in RiverWood Bank’s Service Fee Schedule.  Other fees may be assessed and billed separately by your internet and/or telephone service provider.  The fees that have been separately disclosed to you in connection with your Accounts will continue to apply to those Accounts.

 

Terms and Conditions for Mobile Deposit:

The Mobile Deposit service being offered by RiverWood Bank allows you, the user, to make a deposit of a check on your mobile device by capturing an image of the front and back of the check by means of a camera connected to your mobile device. Checks can be deposited into a qualifying checking, savings, and money market account. Checks are defined as a negotiable demand draft drawn on or payable through or at an office of a United States Bank.

Eligible Items: As a user you agree to only deposit images that are originated from paper checks. You agree to only deposit checks in your account that you are authorized to deposit. You agree that checks deposited using this service have not already been deposited by any channel into an account at RiverWood Bank or any other financial institution and are not duplicated deposits. You agree that checks deposited with this Mobile Deposit capture service will not be deposited by any other channel into an account at RiverWood Bank or any other financial institution. You agree that any check deposited legally and accurately represents the original item.

Ineligible Items: You agree that you will not use this service to deposit checks or items that are ineligible including but not limited to, checks or items payable to any person or entity other then you, post-dated checks, checks or items containing an obvious alteration of any of the fields, any item you suspect, know, or should know to be fraudulent, checks not payable in United States Currency, foreign checks, and checks which are otherwise not acceptable under the terms of your applicable checking, savings, or money market account agreement(s) with us.

Processing Cut-Off Times and Availability of Funds: Deposits made before 4:00pm Central Time on a Business Day will be deposited as of that day and will show-up in your account and be available the next business day subject to our Funds Availability Policy. Deposits made after 4:00pm Central Time or on a day that is not a Business Day will be deposited as of the next business day and will show-up in your account and be available in two Business Days subject to our Funds Availability Policy. Images of items transmitted through the Mobile Deposit service are not considered received by RiverWood Bank until flagged as accepted through the Deposit History Screen available in the Mobile Banking Application. Receipt of an accepted message does not necessarily mean that the item was submitted error-free and the deposit still may be declined if the deposit is outside of RiverWood Bank’s guidelines which may change from time to time. RiverWood Bank will make a reasonable attempt to notify you by email, phone, or mail correspondence if a deposit is declined.

Charges: A fee may be charged for this service. Any fee that is changed will be disclosed prior to you confirming your deposit. This fee is applied to the account in which the deposit is made and is calculated and charged on a monthly basis based on your account’s normal service charge cycle date which is generally, but not necessarily, the date in which the account statement is produced. RiverWood Bank reserves the right to modify its fees for this service at any time. If a deposited item is rejected, dishonored or otherwise returned unpaid the bank may charge the item back to your account and charge a fee in an amount disclosed as part of your applicable account agreements with RiverWood Bank.

Endorsement Requirements: You agree to properly endorse any check deposited through the Mobile Deposit service. This should include a signature from the appropriate named payee or payees on the check along with the words “For Deposit Only” in the appropriate area on the back of the check or deposited item. RiverWood Bank reserves the right to reject all deposited checks or items not properly endorsed.

Retention: You agree to retain the original deposited check or item for no fewer than 5 business days and you agree to provide the original check or item to RiverWood Bank if requested within this timeframe to aid in the clearing, collection, or resolution of any claims by third parties with respect to the deposited check or item. You agree to write VOID on the original check or item and dispose of the check or item in a secure manner within 45 business days of when you deposit the item. You agree to store the deposited check or item in a safe and secure location during the period before the check or item is destroyed. You agree to take steps to limit the risk of the item from being re-deposited either on purpose or by accident.

Notification of Error: You agree to notify us as early as possible by phone, at 888-751-5120 during normal business hours, of any errors, discrepancies or problems related to the use of the Mobile Deposit services. You agree to keep an email address on record with RiverWood Bank that is accurate and up to date so we may notify you of important information.

Restrictions, Limitations, and Eligibility: RiverWood Bank reserves the right to limit the amount of items and aggregate dollar amount deposited on a per item, a per daily, and/or a per monthly basis and these limits may vary by user and may be changed at any time for any reason. RiverWood Bank reserves the right to set eligibility requirements for this service which may change from time to time. RiverWood Bank reserves the right to terminate your access to this service at any time for any reason without notice. Any questions regarding limits or eligibility requirements should be directed to the bank during normal business hours by contacting us at 888-751-5120.

Device Compatibility and Changes: RiverWood Bank supports a limited number of mobile devices for Mobile Deposits. Due to the ever changing and evolving mobile device software and technology RiverWood Bank reserves the right to make changes to the compatibility of devices supported for this service at any time. Questions as to the compatibility of your mobile device should be directed to the bank during normal business hours by contacting us at 888-751-5120. We reserve the right to change the Mobile Deposit service at any time without notice to you. You acknowledge that the Mobile Deposit service may be interrupted, delayed, or otherwise negatively impacted by a number of factors including your mobile device, your internet service provider, wireless provider, or other parties, or due to other factors outside of our control. RiverWood Bank will not be liable for any such interruptions, delays, or negative impacts or for any actions taken as a result.

Your continued use of Mobile Banking and Mobile Deposit services after March 1, 2016 will constitute your acceptance of this agreement.

 

RiverWood Bank, Customer Service Department, PO Box 458, Bemidji, MN 56619, (888)751-5120

 

Member FDIC

(04.2014)