online banking customer agreement and disclosure statement

This agreement and disclosure statement contains the terms and conditions governing the On-line Banking services for which you have applied.

I. Definitions. In this agreement and disclosure statement

"You," "your," and "yours" refers to each of you, and each of your authorized users, that will be using On-line Banking as described in this agreement and disclosure statement;

"We," "us," "our," and "Bank" and "Rondout" refers to Rondout Savings Bank;

"Account" refers to the deposit and credit accounts you have designated in your application for use in or access through On-line Banking.

"Agreement" refers to this agreement and disclosure statement, together with any amendments made from time to time.

"Business Days" refers to the days, including every day other than Saturday, Sunday or a state or federal holiday, in which our facilities are open and available for you to conduct normal services.

"On-line Banking" refers to our electronic banking and information service, which permits you through the use of a personal computer and an Internet service provider to access designated deposit and credit accounts through the Internet using either a browser or other software.

II. Eligibility and Terms and Conditions

To be eligible to apply for the On-line Banking services, you must have a checking account in good standing at Rondout Savings Bank; you may not use our On-line Banking Bill Payment Service unless you have a checking Account with us, but may view all account types on-line. To use On-line Banking you must complete the on-line enrollment process. In connection with your enrollment and, in our sole discretion, at any later date in connection with your use of On-line Banking, you authorize us to obtain your credit report. If we approve your enrollment, we will provide you instructions regarding the use of our On-line Banking services. Before you use On-line Banking, you should read this Agreement and disclosure statement and the instructions we give you, which describe On-line Banking in greater detail. Your use of any of the On-line Banking service means that you have agreed to the terms and conditions stated in this Agreement and Disclosure Statement and the instructions we will give to you.

III. Access Instructions and Security Codes and Procedures

Upon approval of your application, we will provide you an Access ID and temporary Password that you will need for your initial access to On-line Banking. You agree that as soon as possible, you will access On-line Banking and select a new Access ID and Password. The temporary Password we provide to you will be effective only for your initial access to On-line Banking. The Access ID and Password are used to identify you as an authorized user of On-line Banking. For the protection of On-line Banking and to assist us in maintaining the security of your Accounts, your Access ID and Password may be revoked or canceled at any time without giving you prior notice.

The security of your Accounts and On-line Banking depend in part upon you maintaining the secrecy of your Access ID and Password. You agree to keep the Access ID and your selected Password confidential to prevent unauthorized access to your Accounts or unauthorized use of On-line Banking. You also agree not to reveal your Access ID or Password to any person not authorized by you to use On-line Banking. We recommend that you retain your Access ID or Password in a secure location, separate from your equipment.

You agree to notify us immediately if the secrecy of your Access ID or Password is compromised. If you believe that the secrecy of your Access ID and Password has been compromised, you should call us AT ONCE at the number provided below, in the section titled "Contact in Event of Lost or Stolen Access ID and/or Password or Unauthorized Transactions." We recommend that you change your Access ID and Password often, in accordance with the instructions we provide you. If you forget your Access ID you must contact us to have a new Access ID issued to you. It may take several days before you receive this new Access ID. If you have forgotten your password you may request a reset online or contact us to have a new password issued.

For our mutual protection and quality control, the information and e-mail messages you enter on On-line Banking, as well as your telephone inquiries may be recorded. By using On-line Banking, you consent to such recording.

IV. Use of On-line Banking

To be able to access an account, you must be in our records as an account owner or as a duly authorized party. However, your access to On-line Banking and use of any of its services will be determined by us in our sole discretion. We may limit your access to On-line Banking or the dollar amount of your transfers based on your credit report. You must maintain your Accounts in good standing with Rondout in order to perform transactions under On-line Banking. We may modify, suspend, or terminate your access to On-line Banking or any of its services at any time without notice or refund of previously incurred fees, subject to applicable law.

V. Deposit and Credit Agreements and Periodic Statements

The terms and conditions in this Agreement and disclosure statement are in addition to any deposit Account, credit Account or other agreement you have with us relating to your Accounts, including any disclosures made pursuant to such agreements. You will continue to receive periodic statements for your Accounts. Any transfers or payments you authorized to be made using On-line Banking will be included in these statements, along with your other ACCOUNT activity.

VI. Equipment and Software Requirements

We describe our minimum requirements for the equipment and software you will need to use On-line Banking in our instructions for your use of On-line Banking. Satisfaction of the minimum requirements, as well as the proper installation, maintenance and operation of your equipment (including, but not limited to, your computer, modem, and software) and the Internet access through your Internet service provider are your responsibility. We recommend that you properly secure your software and computer equipment. We are not responsible for any errors or failures from any malfunction of your equipment and software, and we are not responsible for any breaches to your own security, computer virus or related problems, whether or not they may be associated with the use of On-line Banking. Accordingly,

WE DISCLAIM ALL WARRANTIES REGARDING YOUR EQUIPMENT AND YOUR SOFTWARE, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

VII. Description of the Services Available Through On-line Banking.

On-line Banking allows you to perform some or all of the following functions. There may be some limitations based on the account type or account ownership:

Obtain balances and transaction information
Inquire about specific deposits
Inquire about specific checks or withdrawals
Enter stop payment requests on checks
Transfer funds to and from your statement Accounts
Make payments from the Payment Account to loan Accounts with us
Download Account information to your personal computer
Apply for Bill Payment Services
- To use our Bill Payment Services you must complete a separate enrollment through On-line Banking.
- The use of Bill Payment Services is subject to the terms and conditions of a separate agreement and disclosure that you will receive upon enrollment to the bill payment service. Not all will be accepted to use the bill payment service

VIII. Limitations of On-line Banking

On-line Banking and the services listed above are limited by and are subject to the following terms:

Transfer Limitations. As disclosed in our Deposit Account disclosure statement and agreement, the transfer of funds from a Savings or Money Market Account is limited by federal law to a maximum of six transfers per monthly statement cycle (whether initiated on your computer or by means of telephone, wire or pre-authorized transfers), of which no more than three may be made by check or debit card (other than a withdrawal from an ATM, an automated teller machine). Accounts that require two or more signatures for withdrawals are not eligible for transfer of funds.
Transfers from loan Accounts are only permitted from your Equity Line of Credit Account.
Funds Availability. Transfers of funds are subject to our rules on Funds Availability. Our Deposit Account Agreement and Disclosure Statement disclose our Funds Availability Schedule and Rules, including our Business Days and the Payment Order of Items. Funds transferred between designated Accounts may be delayed one (1) Business Day, depending upon the day and time on which you request the transfer.
When you give us a transfer instruction, you authorize us to reduce your Account accordingly. Therefore, you must have enough funds available in your Account to complete the transaction. If the available funds in the Account (including any Equity Line of Credit Account) are not sufficient to make the transfers you have authorized, we may either refuse to make the transfer or we may make the transfer and thereby overdraw the Account. In either event, you are responsible for any non-sufficient funds and overdraft charges we may impose, as stated in our Deposit Account agreement and disclosure statement.
Equity Line of Credit Agreements. Transfers from a Equity Line of Credit Account are treated as a loan from that Account and are subject to the agreement that governs that Account.
Balance and Transaction Information. The information provided on any day may be current only as of the close of business on the prior Business Day. Information regarding transactions in your Accounts is available for your current and for a number of previous statement cycles, depending on the specific Account accessed.
E-mail. The electronic mail (e-mail) you send us may not be immediately received by us. We cannot take action on your e-mail request until we actually receive your message and have had a reasonable opportunity to act. Therefore, do not use e-mail if you need to contact us immediately – use the telephone. Please see the section titled "Contact in Event of Lost or Stolen Access ID and/or Password or Unauthorized Transactions." As you are probably aware, the Internet may not be a secure method of communication. Therefore, you should consider not sending confidential information by e-mail or the Internet outside of On-line Banking. For your protection, we will not transfer funds between Accounts or perform banking transactions pursuant to e-mail instructions. You may only use On-line Banking for these purposes.
Security Limitations. For your protection and security reasons, we may limit the frequency and dollar amount of transactions from your Account. We also reserve the right to refuse to honor transfer requests that reasonably appear to us to be fraudulent or erroneous.
Business Days and Hours of Operation. Our Business Days include every day other than Saturday, Sunday or a state or federal holiday. You may access On-line Banking 24/7 – twenty-four (24) hours a day, seven (7) days a week (except during any special maintenance periods or unforeseen emergencies) to instruct us to make transfers and bill payments. However, we can execute your instructions regarding On-line Banking transfers only on a Business Day.
Charges for On-line Banking. You have authorized us to deduct all applicable On-line Banking fees from your Account; however, we may deduct such fees from any account you have with us in the event your Account does not have sufficient funds. A schedule of charges for use of On-line Banking has been provided to you. We reserve the right to amend the schedule from time to time, to change or add fees. In addition to the schedule of charges, the service charges and fees provided for in the Deposit Account and Equity Line of Credit Agreements will continue to apply. You are responsible for fees that may be assessed by your cable, telephone, Internet or other telecommunication service provider.
Our Right to Change On-line Banking. We reserve the right to add, modify or delete from time to time On-line Banking, including, without limitation, its terms, conditions, services, Schedule of Fees or accessible Accounts, in accordance with applicable law. We will notify you of any change favorable to you by mailing a notice. We will notify you of any unfavorable change at your address of record, at twenty-one (21) days prior to the effective date of the changes. Your continued use of On-line Banking after the effective date of the changes shall mean that you agree to the changes, including without limitations, changes to the Schedule of Fees.
If in the future we make additional services or accounts accessible through On-line Banking, you will be provided with a description of each such service or account and applicable fees. Your use of these new services or Accounts shall mean that you agree to any additional terms and conditions as well as payment of fees.
Termination. We may terminate our On-line Banking, or your access to or use of any or all of its services, at any time, for any or no reason. We will try to notify you in advance, but we are not obligated to do so. If we terminate your use of On-line Banking, we reserve the right to make no further transfers from your Accounts, including any transactions you have previously authorized.
You may terminate your use of On-line Banking by giving notice of the termination to us ten (10) days prior to the termination date. If you terminate On-line Banking, you authorize us to continue making the transfers that you have previously authorized until such time as we have had a reasonable opportunity to act upon your termination notice. Once we have acted upon your termination notice, we will make no further transfers from your Accounts, including any transfer that you have previously authorized.

IX. Your Liability

You are responsible for all transfers you authorize using On-line Banking. If you permit other persons to use On-line Banking or your Access ID and Password, you are responsible for any transactions they authorize from your Accounts. We are not obligated to verify that the person using On-line Banking has been duly authorized by you to access On-line Banking using your Access ID and Password.

Tell us AT ONCE if you believe your Access ID and/or Password has been lost or stolen. Telephoning, as provided below under the section titled Contact in Event of Lost or Stolen Access ID and/or Password or Unauthorized Transactions, is the best way of keeping your possible losses down. You could lose all the money in your deposit Accounts (plus your maximum Equity Line of Credit). If you tell us within two (2) business days, you can lose no more than $50 from each deposit Account if someone used your Access ID and Password to access your deposit account without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Access ID and/or Password, and we can prove we could have stopped someone from using your Access ID and/or Password without your permission if you had told us, you could lose as much as $500 from each deposit Account.

Also, if your statement shows transfers from a deposit Account 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.
With regard to your Equity Line of Credit Accounts, refer to your Equity Line of Credit Agreements for any applicable limitations on your liability in connection with unauthorized use of your credit Accounts.

X. Contact in Event of Lost or Stolen Access ID and/or Password or Unauthorized Transactions

If you believe that your Access ID and/or Password has been lost or stolen or that someone transferred or may transfer money from your Accounts without your permission, call us immediately at:

Phone: (845) 331-0073

Or write us at:

Rondout Savings Bank
300 Broadway
Kingston, NY 12401

XI. Your Indemnification to Us

You agree to indemnify, defend and hold us, our affiliates, trustees, officers, employees and agents harmless against any third party claims, demands, suit, action or other proceeding and any expenses, including, without limitation, reasonable attorney fees, arising from or related to your use of On-line Banking or any On-line Banking service or Account.

XII. Our Liability

If we fail to complete a transfer to or from your Accounts on time or in the correct amount according to our Agreement with you, we will be responsible for your actual losses if they were directly caused by our failure, but will be subject to a fifty dollar ($50.00) limitation on late payment charges. 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 complete a transaction from that Account;
If access to or withdrawals from any of your Accounts have been blocked, or are subject to a hold, in accordance with banking policy;
If the funds in your Account are subject to a legal proceeding or other encumbrance restricting transfers or withdrawals, or have been prohibited by a court order, such as a garnishment or other legal process;
If, through no fault of ours, your Account has been closed;
If the transfer would go over the credit limit on your Equity Line of Credit
If your transfer authorization terminates by operation of law;
If you have not properly followed your On-line Banking instructions on how to make a transfer or if your computer or software fails or malfunctions.
If you have not given us complete, correct and current instructions so that we can make a transfer.
If we have reason to believe that a transaction has not been properly authorized or authenticated or is fraudulent.
If On-line Banking was not working properly and you knew or should have known about the breakdown when you attempted to authorize a transfer.
If circumstances beyond our control prevent the making of a transfer, despite reasonable precautions that we have taken. Such circumstances include delays or losses of communications caused by the U.S. Postal Service, equipment failure or breakdown, acts of God, or other conditions beyond our control such as strikes, insurrection, terrorism, war, fire, lack of energy, government acts, and regulation. We will be responsible for acting only on those instructions sent through On-line Banking which we actually receive.
If you default under this Agreement, a Deposit Account Agreement, a Equity Line of Credit agreement, or any other agreement you may have with us.
For other exceptions to our liability, as stated in the Electronic Fund Transfer Agreement provided to you.

RONDOUT’S SOLE RESPONSIBILITY FOR AN ERROR IN A TRANSFER WILL BE TO CORRECT THE ERROR, BUT IN NO CASE SHALL THE BANK BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF), ARISING IN ANY WAY OUT OF THE INSTALLATION, USE, OR MAINTENANCE OF THE EQUIPMENT, SOFTWARE AND OR ON-LINE BANKING EXCEPT TO THE EXTENT SUCH LIMITATION OF LIABILITY IS NOT PERMITTED BY LAW.

XIII. EXCLUSION OF WARRANTIES

ON-LINE BANKING, ITS SERVICES AND RELATED DOCUMENTATION ARE PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

XIV. Error Notification and Resolution

Notification. In case of errors or questions about your On-line Banking transactions, contact us immediately
1. For Deposit Accounts,
  By telephone at: (845) 331-0073
  
  Write us at: Rondout Savings Bank
  300 Broadway
  Kingston, NY 12401
2. For Equity Line of Credit Accounts,
  You should write or telephone us at the address indicated in your Equity Line of Credit Account Agreement or periodic statement. If you telephone us instead of writing regarding Equity Line of Credit transactions, you may lose certain rights the law gives you to dispute billing errors.
Resolution. If you think your Account statement is wrong or if you need more information about a transaction listed on the statement, we must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared. You must
- Tell us your name and Account number(s)
- Describe the error or the 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 tell us orally, we may require that you send us your complaint or question in writing within ten (10) Business Days.

Once we receive your complaint or question along with the information we require, we will conduct an investigation and take the following actions:

Deposit Accounts. We will tell you the results 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 45 days (90 days if the transfer involved a new account) to investigate your complaint or question. If we decide to do this, we will credit your deposit Account within ten (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 investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) Business Days, we may not credit your deposit Account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened

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 were used in our investigation.
Equity Line of Credit. You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your credit Account bill that are not in question. While we investigate your question, we cannot report the amount in question as delinquent or take any action to collect the amount you question.

XV. Right to Privacy – Disclosure of Account Information to Others

We have adopted a Privacy Policy and have provided to you our Privacy Policy Notice. You may request a copy of our Privacy Policy Notice at any time.

As provided in our Privacy Policy Notice, we will disclose information to third parties about you, your Accounts or the transfers and bill payments you make under the following circumstances:

In order to carry out your instructions (We provide On-line Banking to you through an arrangement with a third party service provider. In order to carry out your instructions, we will provide this party with, or it will receive from you, information about your Accounts, your On-line Banking transactions and your e-mail messages);
Where it is necessary for completing transfers;
In order to verify the existence and condition of your Accounts for a third party, such as a a credit bureau;
In order to report our experience regarding your Accounts or On-line Banking transactions to financial institutions and credit reporting agencies;
To collect any debt that you may owe to us;
In order to comply with laws, government agency rules or orders, court orders, subpoenas or other legal processes in order to give information to any government agency or official having legal authority to request such information; or
If you give us your written permission.
You should also know that we may collect customer Account data for the purpose of service improvements, learning about aggregate customer usage patterns, trends in telephone inquiries, and the effectiveness of On-line Banking. You should rest assured, however, that such collection does not result in disclosure of individual identifiable information.

XVI. Address or Banking Changes

You agree to promptly notify us of any address change. In addition, you agree to notify us in writing at least ten (10) Business Days in advance of any change in your Payment Account or your banking status. No changes to your bill pay account address will be completed without a completed change of address form.

XVII. Amendment of Agreement

We may amend this Agreement at any time. We will notify you of any amendment to this Agreement; prior to the effective date of the amendment. On-line Banking and the use of your Accounts for On-line Banking will be governed by the Agreement as amended.

XVIII. Assignment

You may not assign this Agreement to any other party. We may assign your rights and delegate our duties under this Agreement to any other party.

XIX. Captions and Numbering

The captions and numbering of sections, subsections and listings hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement.

XX. Disputes

In the event of a dispute regarding On-line Banking or its services, you and Rondout agree to resolve the dispute by looking at this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and Rondout regarding On-line Banking, which supersedes any proposal or prior agreement, oral or written, and any other communications between you and Rondout relating to the subject matter of this Agreement. If there is a conflict between what our employee or a representative of On-line Banking says and the terms of this Agreement, the terms of this Agreement will prevail.

XXI. Governing Law

This Agreement is governed by and shall be construed in accordance with the laws of the State of New York and applicable federal law.

XXII. No Waiver

We shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by our duly authorized representative. No delay or omission on our part in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. Any waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

XXIII. Severability

If any provision of this Agreement is held invalid, illegal, void or unenforceable by any rule or law, administrative order or judicial decision, all other provisions of the Agreement shall remain in full force and effect.

Online Banking Fee Schedule

Bill Pay Fee

Retail Accounts	$0.00
Commercial Accounts	$0.00
Stop Payments	$16.50
Insufficient Funds Fee	$25.00

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