Online Access Agreement & Electronic Funds Transfer Account Disclosure
Please read this disclosure.
The online Banking Agreement (the Agreement), which includes the Enrollment Application, is a contract which establishes the rules which cover your electronic access to your accounts at Willamette Valley Bank (the Bank) through Willamette Valley Banks Internet System (the System).By using the System, you accept 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 the Bank (e.g., 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 Oregon. 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.
You may not assign this agreement. This agreement is binding upon your heirs and the Banks 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, together with the Enrollment Application, constitutes the entire agreement between you and the Bank with respect to the subject matter hereof and there is no understandings or agreements relative hereto which are not fully expressed herein.
As used in this Agreement, the words we, our, us, and Bank mean Willamette Valley Bank. You and your refer to the account holder authorized by the Bank to use the System under this Agreement and anyone else authorized by that account holder to exercise control over the account holders funds through the System. Account or accounts means your accounts at the Bank. Electronic funds transfers mean ATM withdrawals, preauthorized transactions, point-of-sale transactions, and transfers to and from your Bank accounts using the System. System Services means the services provided pursuant to this Agreement. Business days means Monday through Friday. Holidays are not included.
To use the System, you must have at least one checking account at the Bank, access to Internet service, and an e-mail address. Once we have received your signed Enrollment Application, and verified your account information, we will send you, either by e-mail or by postal mail, confirmation of our acceptance of your enrollment, along with your assigned USER ID. Your temporary password will go out separately no sooner than 3 business days after the USER ID is distributed. The System can be used to access only the Bank accounts which you have designated for access by the System in your Enrollment Application. You may add or delete any of your Bank accounts from this Agreement by completing a new Enrollment Application. We undertake no obligation to monitor transactions through the System to determine that they are made on behalf of the account holder.
You may use the System to check the balance of your Bank accounts, view Bank account histories, transfer funds between your Bank accounts and make stop payment requests on paper items.
Hours of Access
You can use the System seven (7) days a week, 24 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.
For security purposes, you are required to change your password upon your initial logon 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 locked out. 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 (e.g., social security numbers, address, date of birth, names of children) and should be memorized rather than written down.
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 (e.g., your drivers 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 USER 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 the 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 the Bank System, or e-mail transmitted to and from us, will not be monitored or read by others.
Fees and Charges
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.
Posting of Transfers
Transfers initiated through the System before 5:00 p.m. (Pacific Standard Time) on a business day are posted to your account the same day. Transfers completed after 5:00 p.m. (Pacific Standard Time) on a business day, Saturday, Sunday, or a banking holiday, will be posted on the next business day.
(Order of Payments, Transfers and other Withdrawals)
If your account has insufficient funds to perform all electronic funds transfers you have requested for a given business day, then:
- Electronic funds transfers involving currency disbursements, like ATM withdrawals, will have priority;
- Electronic funds transfers initiated through the System which would result in an overdraft of your account may, at our discretion, be cancelled;
- In the event the electronic funds transfers initiated through the 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.
Limits on Amounts and Frequency of System Transactions
The number of transfers from Bank accounts and the amounts, which may be transferred, are limited pursuant to the terms of the applicable deposit agreement and disclosure for those accounts. 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.
You may initiate stop payment requests online via the System only for paper checks you have written (non-electronically) on your Bank accounts. 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 Stop Payment Request and return it within 14 days after you notify us. You will incur stop payment charges as disclosed in the current fee schedule for the applicable account. Stop payment charges for System bill payment paper drafts will be assessed in addition to the stop payment charges for the applicable account.
Disclosure of Account Information and Transfers
You understand information about your accounts or the transfers you make may automatically be disclosed to others. For example, tax laws require disclosure to the government of the amount of interest you earn, and some transactions, such as large currency and foreign transactions, must be reported to the government. We may provide information about your accounts to persons or companies we believe would use the information for reasonable purposes (e.g., when a prospective creditor seeks to verify information you may have given in a credit application). In addition, we routinely inform credit bureaus when accounts are closed because they were not handled properly. We may also seek information about you from others (e.g., the credit bureau, in connection with the opening or maintaining of your account or in connection with approving your access to the System). You agree and hereby authorize all of these transfers of information.
You will not receive a separate System statement. Transfers to and from your accounts using the System will appear on the respective periodic paper statements for your Bank accounts.
Change in Terms
We may change any term of this Agreement at any time. If the change would result in increased fees for any System service, increased liability for you, fewer type of available electronic funds transfers, or stricter limitations on the frequency or dollar amount of transfers, we agree to give you notice at least 30 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of an account or our electronic funds transfer system. We will post any required notice of the change in terms on the Bank System website or forward it to you by e-mail or by postal mail. If advance notice of change is not required, and disclosure does not jeopardize the security of the account or our electronic funds transfer system. We will post any required notice of the change in terms on the Bank System website or forward it to you by e-mail or postal mail. If advance notice of change is not required and disclosure does not jeopardize the security of the account or our electronic funds 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.
In Case of Errors or Questions about Your Electronic Transfer
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:
- Tell us your name and account number (if any).
- 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.
- Tell us the dollar amount of the suspected error.
If you contact us by telephone or by e-mail, we may require that you send us your concerns in the form of a paper writing by postal mail or fax within 10 business days.
We will communicate to you the results of the investigation 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 calendar days to investigate your concern 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 investigations. If we ask you to put your concerns or questions in writing and we do not receive it 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 funds transfer that occurred within thirty (30) calendar days after the first deposit to the account was made, the applicable time periods for the action shall be twenty (20) business days in place of ten (10) business days. If a notice of error involves an electronic funds transfer that was initiated in a foreign country, occurred within thirty (30) calendar 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) calendar days.
Our Liability for Failure to Make a Transfer
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, when you have properly instructed us to do so, we will be liable for your losses or damages. 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 a legal order directs us to prohibit withdrawals from the account.
- If your account is closed, or it has been frozen.
- If the transfer would cause your balance to go over the credit limit of an established line of credit or the credit limit for any credit arrangement set up to cover overdrafts.
- If you, or anyone authorized by you, commits any fraud or violates any law or regulation.
- If any electronic terminal, telecommunication device, or any part of the electronic fund transfer system is not working properly and you knew about the problem when you started the transfer.
- If you have not properly followed the on-screen instructions for using the System.
- If circumstances beyond our control (e.g., fire, flood, interruption in telephone service, or other communication lines) prevent the transfer, despite reasonable precautions that we have taken.
- There may be other exceptions stated in our agreement with you.
Your Liability for Unauthorized Transfers
CONTACT US AT ONCE if you believe your password has been lost, stolen, used without your authorization, or otherwise compromised, or if someone has transferred or may transfer money from your account without your permission. An immediate telephone call to us is the best way to reduce any possible losses. You could lose all the money in your account (plus your maximum overdraft line of credit, if any). If you contact us within two (2) business days after you learn of the loss, theft, compromise, or unauthorized use of your password, you can lose no more than $50 if someone used your password without permission.
If you do not contact 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 to access accounts without your permission if you had told us, you could lose as much as $500.
Also, if your paper statement shows transfers that you did not make, contact us at once. If you do not tell us within 60 days after the paper statement was mailed to you, you may not get back any money lost through transactions made after the 60-day time period if we can prove that we could have stopped someone from taking the money if you told us in time. If a good reason (such as a long trip or hospital stay) kept you from contacting us, we will extend the time periods. If you believe that your card or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 503-485-2222, or write us at Willamette Valley Bank, P.O. Box 2747, Salem, OR 97308.
Liability for Unauthorized Visa Point of Sale Debit Card Transactions.
Tell us at once if you believe your VISA point of sale debit card has been lost or stolen or used for any unauthorized transactions. Your liability for unauthorized VISA point of sale debit card transactions that take place on the VISA System is Zero dollars. We may require you to provide a written statement regarding claims of unauthorized VISA point of sale debit card transactions.
These provisions limiting your liability do not apply to VISA commercial cards or VISA PLUS ATM transactions; and apply only to cards issued in the United States. With respect to unauthorized transactions, these limits may be exceeded to the extent allowed under applicable law (see Your Liability for Unauthorized Transfers) only if we determine that you were grossly negligent or fraudulent in the handling of your account or point of sale debit card. The same consumer liability limits shall apply to Interlink Transactions. “Unauthorized use” means the use of your point of sale debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and for which you receive no benefit. To notify us of lost or stolen cards, or of unauthorized transactions, call or write to us at the telephone number or address set forth above. This will help prevent unauthorized access to your account and minimize any inconvenience. VISA is a registered trademark of VISA International.
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 under this Agreement, or by reason of your use of or access to the System, including loss of profits, revenue, data, or use by you or any third party, whether in an action in contract or tort, or based on a warranty. Further, in no event shall the liability of the Bank and its affiliates exceed the amount 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 three (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 the System Services for any of the following reasons:
- Without prior notice, if you have insufficient funds in any one of your Bank accounts. The System service may be reinstated, in our sole discretion, once sufficient funds are available to cover any fees, pending transfers, and debits.
- Upon three (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.
- Upon reasonable notice, for any other reason in our sole discretion.
Communication between Bank and You
Unless this Agreement provides otherwise, you may communicate with us in any one of the following ways:
E-Mail: You can contact us by e-mail at firstname.lastname@example.org (Please note that banking transactions through the System are not made via e-mail)
Telephone: You may contact us by telephone at 503-485-2222
Postal Mail: You may write to us at:
Willamette Valley Bank
P.O. Box 2747
Salem, Oregon 97304
Or you may contact any one of our Branch locations.
Consent to Electronic Delivery 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 Bank System website or by e-mail. You agree to notify us immediately of any changes in your e-mail address.