This Online Banking Agreement and Disclosure (the "Agreement") discusses how you can use Summit Bank, N.A. ONLINE (the "Service") to obtain information about your accounts, to transfer funds between your accounts, and to request certain other Bank Services. It also contains the terms and conditions governing the Service.
If you previously registered for Summit Bank, N.A. ONLINE, this version of the Agreement replaces the agreement that you previously had with us. If you continue to use the Service, you are bound by these terms. Commercial customers can use the Service to transfer funds between their accounts if they have the appropriate agreement on file. See Registration - Business Accounts, below.
If you use Summit Bank, N.A. ONLINE, you thereby indicate your consent to these terms. You may print a copy of this Agreement for your records now, or you can refer to this document from our home page titled “Online Banking Agreement”.
Summit Bank, N.A. is strongly committed to protecting the security and confidentiality of your customer account information. The Bank uses state-of-the-art technology in the ongoing development of its Online Banking Service to ensure this security. We use several different methods to protect your account information including but not limited to:
You agree to…
Once your User ID and Password have been accepted by Summit Bank, N.A. and your browser shows a secure connection has been established, electronic messages sent and received via the "Contact Us" option are secure. Communications sent over the public Internet are not necessarily secure. Therefore, we will not send, and we strongly suggest that you do not send, any confidential account information unless using the electronic communication options provided in the Message Center section of the ONLINE Banking page. You agree we may take a reasonable time to act on any e-mail. Correspondence that requires expeditious handling (the reporting of an unauthorized transaction from your account, to report a lost or stolen debit card or to stop payment on a check) must be made by calling a Summit Bank, N.A. office promptly.
You agree that Summit Bank, N.A. may send you electronic messages about other products or services we offer.
Business Accounts. For enrollment in ONLINE Services, business account customers must complete a Cash Management agreement.
Authorized online banking clients are able to transfer funds between deposit accounts, make payments and transfer funds from certain lines of credit for the current day or schedule future transfers. lf you do not wish to have the ability to transfer funds between accounts using the ONLINE Service, or if you want to restrict the accounts from which you can transfer funds, call your private Banker, to make the necessary adjustments.
All transfers are subject to the terms of the Transfer Provisions ("Transfer Provisions"). By using the Funds Transfer Service (the "Service"), you agree to these Transfer Provisions.
Meaning of Terms. As used in the Transfer Provisions, the following words have the meanings given below. "You" and "your(s)" refer to each person (including any business) who applies to use the Service, and each person who uses the Service with the permission of an applicant. "Business" means any corporation, partnership, limited liability company, sole proprietorship or any other type of entity maintaining a deposit account for commercial purposes. "We," "us," "our," "Summit Bank, N.A.," or "Bank" refer to the Summit Bank, N.A. depository institution that holds an account accessed by the Service. "Business Day" means Monday through Friday, except Banking holidays.
Online Banking Funds Transfers Processing. Transfers between deposit accounts are effective immediately; however, transfers must be made prior to 6:00 p.m. Monday-Friday to be available to cover items clearing in end of day processing. Transfers cannot be made between two lines of credit using the service
Limits on Transfers. There is a maximum dollar limit on any transfer equal to the available balance in your account plus the available balance or credit balance in any other account or line of credit attached to the deposit account to provide overdraft protection.
Availability. Funds must be available in the account from which you wish to transfer funds on the date you enter the transaction.
Restrictions on Transfers from Savings and Money Market Accounts. Under Federal Reserve Board Regulation D, you may make an unlimited number of deposits or transfers into a savings or money market account; however, you may make no more than six transfers or withdrawals out of such an account per monthly statement cycle (not counting transactions made at ATMs or at Bank offices). Transfers made by ACH, telephone, personal computer or funds automatically transferred from a savings or money market account to another deposit account for overdraft protection are counted toward the six total permitted withdrawals. If your transactions exceed this limit, we will charge you a fee for each such transaction in excess. If you exceed the restrictions more than three times during a 12-month period, we will close the savings or money market account and transfer the funds to a checking account. Savings accounts have additional withdrawal limitations in which fees are assessed. Refer to the truth in savings disclosure provided to you.
Insufficient Funds to Complete Transfer. If your account does not have sufficient funds to complete a transfer as of the date the transfer is scheduled to be made, the transfer may not be completed, but if we do complete the transfer as an accommodation to you, you are responsible for any overdraft created.
Address and Telephone Number for Notification of Unauthorized Use. If you believe your User ID or password has been compromised, or someone has transacted business without your permission, notify us immediately in one of the following ways:
Ph: (850) 785-3669
Email: askolb@summitBankna.com (Please refer to the Online Email Communications section of this agreement for information on sending secure emails.)
Address: Summit Bank , N.A.
Attn: Internet Banking
101 W 23rd Street
Panama City, FL 32405-4504
Your Obligation to Examine Records and Report Discrepancies. The Bank provides no separate written confirmation of individual payments or transfers. Confirmation is provided through online information available from the Service and through your periodic account statements. You agree to examine your statement promptly and to notify us immediately of any discrepancy between the statement and your account records. You also agree to notify us immediately of any discrepancy you find in reviewing your online information. In no event shall the Bank be liable for interest compensation as described below, unless we are notified of a discrepancy within 60 days from the date of your first statement reflecting the discrepancy. If you suggest that an unauthorized transfer may have occurred, we may require you to sign an affidavit.
Liability for Unauthorized Transfer-Consumers Only. If you tell us within two (2) Business Days after you discover your password or other means to access your Account has been lost or stolen, your liability is no more than $50.00 should someone access your Account without your permission. If you do not tell us within two (2) Business Days after you learn of such loss or theft, and we can prove that we could have prevented the unauthorized use of your password or other means to access your Account if you had told us, you could be liable for as much as $500.00. If your monthly statement contains transfers that you did not authorize, you must tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may lose any amount transferred without your authorization after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason (such as a long trip or a hospital stay) prevented you from telling us, we may extend the period.
Online 'Stop Payments' are for paper items only. lf the item is an ACH/Electronic entry, please contact your Private Banker or E-banking at 850-784-5005 for further assistance. Stop payments received after 4:00 PM CST or on a non business day, will be processed on the next business day. Stop pay requests are effective for six months from the date placed and may be renewed for an additional six month period. Your stop pay request will not be processed if the paper item has already been paid, certified or accepted. You agree the Bank is not obligated to honor a stop payment request that does not contain accurate information. You understand it is necessary to provide the correct information related to the transaction, and that a failure to do so may result in the payment of the item. The account holder agrees to hold harmless and indemnify the Bank for all expenses, costs, and damages incurred by payment of the above item if such payment is the result of failure of the account holder to furnish any item of information requested completely, accurately and correctly. The Bank will not be liable for payment of the check contrary to this request unless payment is caused by the Bank's negligence and causes actual loss to you. The, bank's liability shall not, in any event exceed the amount of the check. A stop payment fee will be charged based on the fee schedule previously provided.
'Check Reorder' directs you to the Harland website where you can place a check reorder.
By using the Service, you acknowledge and agree that this Agreement sets forth security procedures for electronic Banking transactions, which are commercially reasonable. You agree to be bound by any instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use as described above (and we have had a reasonable opportunity to act on such notice).
If we fail or delay making a payment or transfer pursuant to your instructions, or if we make a payment or transfer in an erroneous amount which is less than the amount per your instructions, unless otherwise required by law our liability shall be limited to interest on the amount which we failed to timely pay or transfer, calculated from the date on which the payment or transfer was to be made until the date it was actually made or you canceled the instructions. We may pay such interest either to you or the intended recipient of the payment or transfer, but in no event shall we be liable to both parties, and our payment to either party shall fully discharge any obligation to the other. If we make a payment or transfer in an erroneous amount which exceeds the amount per your instructions, or if we permit an unauthorized payment or transfer after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law our liability shall be limited to a refund of the amount erroneously paid or transferred, plus interest thereon from the date of the payment or transfer to the date of the refund, but in no event to exceed 60 days' interest. If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the average federal funds rate at the Federal Reserve Bank in the district where the Bank is headquartered for each day interest is due, computed on the basis of a 360-day year.
Unless otherwise required by law, in no event will the Bank be liable to you for special, indirect or consequential damages including, without limitation, lost profits or attorneys' fees, even if we are advised in advance of the possibility of such damages.
Disclosure of Account Information. Your account information is confidential. We may, however, disclose information to a third party about your account transfers only if you have given us permission to do so, when it is necessary to complete transactions; verify the existence or status of your Account to a third party such as a credit bureau or merchant; comply with a court order; the request of a government agency where it is necessary for activating additional Services or to a consumer reporting agency for research purposes only. By using the Service you agree the information and transfers will be recorded and/or data captured and you consent to such recording.
Authorization To Charge Accounts. You are responsible for all transfers you or your authorized representatives make using the Service. You authorize us to debit your designated account(s) for any transactions accomplished through the use of the Service (including the transfer of funds from another deposit account or overdraft line of credit that provides overdraft protection).
You agree that we may comply with transfer instructions entered by any one person using an authorized User ID and Password, notwithstanding any provision that may be contained in other account documentation purporting to require more than one signature to withdraw funds from the account.
If you permit another person to use the ONLINE Service or give them your User ID or Password, you are responsible for transfers, payments or advances made from the deposit and credit accounts linked to your Service registration even if that person exceeds your authorization.
Protecting Your User ID and Password. You agree that we may send confidential mailings, including User ID and Password confirmations, to the current address shown in our records for your primary checking account, whether or not that address includes a designation for delivery to the attention of any particular individual; and you further agree that Summit Bank , N.A. will not be responsible or liable to you in any way in the event that such properly addressed information is intercepted by an unauthorized person, either in transit or at your place of business.
The Bank shall have no liability to you for any unauthorized payment or transfer made using your User ID and Password that occurs before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice. We reserve the right to suspend or cancel your User ID and password, even without receiving such notice from you, if we suspect they are being used in an unauthorized or fraudulent manner.
You are responsible for complying with all the terms of this Agreement and with the terms of the agreements governing the accounts to or from which transfers are made using the Service. We can terminate your electronic Banking privileges under this Agreement without notice to you if you do not pay any fee when due, if you do not comply with any agreement governing your accounts, or if any such account is not maintained in good standing. We can also terminate the Service if we believe that an actual or potential unauthorized use of your user ID, password or account may be occurring. The Bank reserves the right to terminate your access to the ONLINE Service or any portion of it in its sole discretion, without notice and without limitation, except as may be required by law.
In the event you wish to cancel the Service, you may do so by contacting the Bank in any one of the following ways:
Ph: (850) 784-5005
Email: askolb@summitBankna.com (Please refer to the Online Email Communications section of this agreement for information on sending secure emails.)
Address: Summit Bank, N.A.
101 W 23rd Street
Panama City, FL 32405-4504
We can amend this Agreement upon notice to you, which you agree may be sent by e-mail or by posting to the website and sending you notice or similar written consent. Any notice will be effective not later than ten (10) days after we send the notice (unless a law or regulation requires a longer notice period), whether or not you have retrieved the notice by that time.
We may, from time to time, introduce new Services that are part of the ONLINE Services. We will update this Agreement to notify you of these new Services. By using the ONLINE Services after the new Services become available, you agree to be bound by the terms contained in the revised agreement.
You agree that Summit Bank, N.A. is not responsible for any electronic virus that you may encounter using this Service. We encourage you to routinely scan your PC and diskettes using any reliable virus protection product to detect and remove any viruses found. Undetected or un-repaired, a virus may corrupt and destroy your programs, files and even your hardware.
Except as specifically provided in this Agreement or where the law requires a different standard, you agree Summit Bank, N.A. nor any of its subsidiaries or affiliates (collectively, "Summit Bank, N.A.") nor any third party service providers engaged by the Bank to perform any of the services connected with the ONLINE Service shall be responsible for any damages, loss, property damage or bodily injury, incurred as a result of your using or attempting to use the service, whether caused by the equipment, software, Internet browser providers such as Netscape (Netscape Navigator browser), Microsoft (Microsoft Internet Explorer browser), Internet access providers or on-line service providers, an agent or subcontractor of any of the foregoing. Nor shall the Bank, or any third party service providers engaged by the Bank, be responsible for any direct, indirect, special, consequential, economic or other damages arising in any way out of the installation, use or maintenance of the equipment, software, ONLINE Service, Internet browser, access software, from the unavailability of the Service or for any errors in information provided through the Service.
This Agreement, as it may be amended from time to time, if you are a business customer, your Cash Management Agreement, and any and all other disclosures and agreements you may have executed with Summit Bank, N.A., contain the entire understanding between you and the Bank concerning the ONLINE Service, and supersede any verbal conversations, other communications, and previous agreements, if any.
Your registration for ONLINE Service confirms (1) your agreement to be bound by all the terms and conditions of this Agreement; and (2) your acknowledgment that you received and understand the terms of this Agreement.
If any provision of the agreement is found to be invalid or unenforceable under applicable law, said provision shall be ineffective to the extent of such invalidity only, without affecting the remaining provisions of this agreement.
Should any dispute arise between you and the Bank relating to the account and if following the good faith negotiation of the dispute, it cannot be resolved; it shall first be submitted to mediation. Mediation shall be conducted at the nearest office of the mediation organization mutually agreed upon by you and the Bank.
You and Summit Bank, N.A. each hereby knowingly, and voluntarily, intentionally and irrevocably waive the right to a trial by jury in respect to any litigation based hereon or arising out of this agreement or relating to the account as permitted under applicable law.