Online Banking Account Access User and Disclosure Agreement
This Agreement is entered into between Forcht Bank (referred to as “Bank”, “we”, “us”, and/or “our”) and any customer (referred to as “you” or “your”) of the Bank utilizing the Online Banking and Bill Payment Services described in this Agreement. These Services are additionally governed by any other separate Agreement(s) you may have with Forcht Bank. Disclosures are made in compliance with the Electronic Funds Transfer Act and cover your and our rights and responsibilities if you use the Online Banking Services available through the Bank.
By using Forcht Bank Online Banking and Bill Payment Services, you agree to be bound by the terms and conditions contained in this Agreement.
Online Banking Services are those Services that allow you to access your account, utilize online Bill Payment Services and initiate certain transactions from your account. To subscribe to the Online Banking system, you must have at least one account with the Bank. Such Services include but are not limited to:
Request for Password: You hereby request and apply to us to activate a Password to be used by you to access your accounts and to make transfers by use of a computer between accounts, now or later designated by you and us through our Online Banking system. You will be asked to select your own Password at the time of registration for the Online Banking system. It is very important that you select a Password that only you will remember and that will not contain information about you that could easily be compromised.
Security of Password: You agree not to reveal your Password to any person. You understand and acknowledge that the security of any account accessible by use of the Password depends upon maintaining the secrecy of the Password.
If you forget your Password, you may utilize the “Forgotten Password” feature in order to reset your Password. If you elect to use this feature, you will be asked to answer three verification questions and your answers will be securely stored in the Online Banking system. In the event you forget your Password, select “Forgotten Password” and you will be asked to answer these three questions. As long as your answers match those that are stored, you will be allowed to reset your Password. If you choose not to use the “Forgotten Password” feature, you must contact the Bank to have the Password reset.
Under no circumstances should a Bank employee request your Password through Online Banking, over the Internet or through other contact. Do not respond to any such request, even if the person claims to represent the Bank.
Use of the Password: The Password may be used to make transactions only on accounts designated by you or us.
Limitation of Amount and Frequency of Transactions: Certain legal limitations apply on the number of transfers that may be made from your savings and/or money market accounts(s). A maximum of six (6) preauthorized, automatic or telephone transfers may be made each month. Where check-writing privileges are offered by the Bank, no more than three of the six transfers may be made by check, draft, debit card or similar order made by you and payable to a third party. Federal regulations require the Bank to monitor your compliance with these restrictions. We may be required to close your account or take away your ability to make such transfers if these restrictions are violated.
Rights to Receive Documentation of Transfers: You will continue to be mailed periodic statements for your account(s) with the regularity provided for in the applicable depositor or loan Agreements.
Computer Requirements: In order to access the Online Banking System, you will need the use of a computer with Internet access. You are responsible for the computer’s operation and maintenance and its software. The Bank is not responsible for any errors of failures from any malfunction of your computer or your software. The Bank is not responsible for any computer virus related problems that may be associated with the use of the Online Banking system. The Bank shall have no liability to you for any damage or other loss, direct or consequential, that you may suffer or incur by reason of your use of your computer or your software, including any warranty of merchantability or fitness for a particular purpose.
Third Party Software – Virus Protection: The Bank makes no representations or warranties regarding the accuracy, functionality or performance of any third-party software that may be used in connection with Online Banking (e.g., Quicken, Microsoft Money).
The Bank is not responsible for any electronic virus or viruses that you may encounter. We encourage you to routinely scan your computer, diskettes and software using a reliable virus product to detect and remove any viruses found. Undetected viruses may alter, corrupt, damage or destroy your programs, files and even your computer. Additionally, you may unintentionally transmit the virus to other computers, diskettes and software.
General Provisions – Authorization of Transactions: You agree to be liable to us for all transactions done by, for or on behalf of you by use of an electronic funds transfer Service.
Overdrafts: If an overdraft is inadvertently created in any account due to an electronic funds transfer Service, you agree to repay the overdraft immediately, plus the usual overdraft fee. If improper overdrafts become a frequent occurrence, we may cancel this Agreement.
Business Day: Our Business Days for purposes of this Agreement (including processing of claims of errors or performing other internal functions) are Monday through Friday. Holidays are not included.
Transactions Subject to Account Rules: Each electronic transfer shall be governed by this Agreement and subject to the rules, regulations and Agreements existing from time to time between you and us with respect to each account to which the transactions relates.
Joint and Several Obligations: You agree that the obligations assumed by you in the Agreement shall be the joint and several obligations of all account holders of any designated account.
Your Liability for Unauthorized Electronic Transfers: Notify us at once if you believe your Password has been stolen at 1-844-4-FORCHT. Telephoning is the best way to limit the amount of loss. If you tell us within two (2) Business Days, you can lose no more than $50.00 if someone has used your Password without your permission.
If you do not tell us within two (2) Business Days after you learn of the loss or theft of your Password and we can prove that some of the loss may have been prevented had we been informed of the loss, you can lose as much as $500.00.
Our Liability for Failure to Make Transfers: If you do not complete a transfer to or from your account on time or in the correct amount according to our Agreement with you (including, but not limited to, all rules and regulations governing your account, we will be liable for all losses not to exceed the amount of the transfer. However, there are exceptions. Forcht Bank will not be liable for, including but not limited to, the following:
Electronic Funds Transfer Errors: In case of errors or questions about your electronic transfer, contact Forcht Bank at 1-844-4-FORCHT or write to us as soon as possible at Internet Banking Department, Forcht Bank, P.O. Box 55250, Lexington, Kentucky 40555.
Forcht Bank must hear from you within sixty (60) days after the first statement on which the problem appeared was sent to you. Please tell us your name and account number, describe the error or the transfer about which you are unsure and explain why you believe there is an error, and tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or questions in writing within ten (10) Business Days.
Forcht Bank will tell you the result of our investigation within ten (10) Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or questions. If we decide to do so, we will provisionally credit your account within ten (10) Business Days for the amount you think is in error so that you will have use of the money during the time it takes us to complete our investigation.
If Forcht Bank asks you to state your complaint or questions in writing and we do not receive it within ten (10) Business Days, we may not provisionally credit your account. If we decide that there was no error, Forcht Bank will send you a written explanation within three (3) Business Days of when we finish the investigation. You may ask for copies of the documents that were used in the investigation.
Amendment of Agreement: We may amend this Agreement (including changes in its fees and charges hereunder) by giving notice to you at least thirty (30) days before the effective date of the amendment, unless such change or amendment is otherwise required by law or applicable regulation. Your continued use of the Service is your Agreement to the amendment(s).
Termination of Agreement: Either you or we may terminate this Agreement or any Service provided hereunder at any time upon giving at least ten (10) days’ prior written notice of termination to the other party. We reserve the right to terminate or to discontinue support of any software or equipment without written notice.Governing Law: You agree that the laws of the United States and the Commonwealth of Kentucky, including, but not limited to, the Uniform Commercial Code of Kentucky, shall govern our relationship and this Agreement.