Internet Banking and Bill Payment Authorization Agreement
and Disclosures
Entire Agreement & Relation of Agreements
Customer wishes to use American Bank’s “Internet Banking System” (IBS)
to access accounts and accomplish financial transactions. American is
willing to make the Internet Banking System available to the Customer on
the terms and conditions set forth in this Agreement. This Agreement
shall constitute the entire understanding between Customer and American
Bank regarding use of the System only and supersedes and replaces all
prior agreements, understandings, proposals or agreements written or
oral regarding use of the System only. If any of the provisions of this
Agreement conflict with any of the provisions of the terms, covenants or
conditions of the Account Agreement, Loan Documents, or any other
understandings, documents or agreements between American and Customer,
then the provision(s) of this Agreement, the Account Agreement, Loan
Documents, or other understandings, documents or agreements most
favorable to American shall control.
Agreement
As used in this Internet Banking and Bill Payment Authorization
Agreement and Disclosure ("the Agreement"), the term “Bank” means
American Bank; the term “System, IB System or IBS” means Internet
Banking System; the term “Payee” means the person or entity to whom you
wish a bill payment to be directed; “Payment Instruction” means the
information provided by you to the Bank’s third party processor for a
bill payment to be made to the Payee (such as, but not limited to, Payee
name, Payee account number, and payment date); “Payment Account” means
your checking account from which all bill payments will be made;
“Business Day” means Monday through Friday excluding Federal Reserve
holidays; "Scheduled Payment Date” means the Business Day of your choice
upon which your bill payment will be made (a Scheduled Payment Date of a
non-Business Day will be considered to be the next Business Day); and,
“Cutoff Time” means 5:00 P.M. on any Business Day and is the time by
which you must transmit Payment Instructions to have them considered
entered on that particular Business Day.
American’s Obligation to Provide System Access
Provided no event of default exists; American agrees to provide access
to the System in accordance with American’s then current protocols and
procedures for the type of access being sought. American will use its
best efforts to maintain the System, System availability and Customer’s
access to the System.
Customer acknowledges that American is only a provider of the System and
does not own or control all of the software, hardware, and Internet
access that comprise and are used to run the System. Customer further
acknowledges and agrees that American is not responsible for the
unavailability or malfunction of the System caused by any portion of the
hardware or software which is not owned by or proprietary to American.
To use the IB System, you must have at least one account at American
Bank, access to the Internet, and an e-mail address. The IB System can
be used to access only the American accounts on which you are an owner
or signer. We undertake no obligation to monitor transactions through
the IB System to determine that they are made on behalf of the
accountholder.
Hours of Access; you can use the IB System seven days a week,
twenty-four hours a day, although some or all the 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 American's home page. Transactions initiated after
end of business day, which may change from time to time, will be
processed on the following business day.
Customer may use American Bank’s Internet Banking System to access
copies of your statements which are available for 12 months. To open
your statement you will need Adobe Acrobat Reader, which can be
downloaded from American Bank’s Internet Banking page. You will continue
to receive your statement in paper form unless you sign up for
e-Statements.
American Bank reserves the right to cancel without notice some or all of
The System services due to inactivity. Including but not limited to bill
pay, wire transfer, ACH, etc.
Computer Requirements
In order to use the Internet Banking System, you will need a computer,
access to the Internet and your browser needs to be updated to a 128-bit
encryption. You are responsible for the installation, maintenance, and
operation of your computer and software, and American is not responsible
for any computer virus or related problems that may be associated with
the use of the System.
Bill Payment Service
By providing American Bank’s third party processor with the names and
account information of those Payees to whom you wish to direct payment,
you authorize the Bank to follow the Payment Instructions that it
receives through the Internet Banking System (IBS). When the Bank
receives your Payment Instruction, you authorize American Bank to debit
your Payment Account and remit funds on your behalf so that the funds
arrive as close to the Business Day designated by you as reasonably
possible.
When using the bill payment service you may only pay payees with United
States addresses. While most payments can be made using the Bill Payment
Service, American reserves the right to refuse to pay any payee
designated by you. If we do so, we will notify you. If the payee is paid
by paper check, you understand and agree that paper checks are mailed to
the payee and the payee may not receive the payment for up to 5 or more
Business Days after the date the payment is debited from your account.
If the payee is paid electronically, the payee may not receive payment
for up to 3 business days after the payment is debited from your
account. The actual payment of such bills is handled by an independent
third party. Therefore, American Bank cannot and will not guaranty or be
held responsible for the completion and accuracy of such transactions.
Once the bill payment has been initiated and debited from your Payment
Account, you cannot cancel or stop the bill payment that is being paid
electronically. However, if the bill payment is paid by paper check you
need to contact American Bank (651) 628-5909 or (877) 382-2265 before
the paper check has cleared our third party processor’s account at their
bank. If the paper check has not cleared we will request our third party
processor to place a stop payment on the paper check. American Bank
cannot and will not guaranty or be held responsible for the completion
of the stop payment.
American Bank will use its best efforts to make all your payments
properly. However, the Bank shall incur no liability if it is unable to
complete any payments initiated by you through the Internet Banking
System because of the existence of any one or more of the following
circumstances:
1) If, through no fault of ours, your Payment Account does not contain
sufficient funds to complete the transaction or the transaction would
exceed the available credit limit of your overdraft account;
2) If, the third party bill payment processing center is not working
properly and you know or have been advised by the Bank about the
malfunction before you execute the transaction;
3) If your computer, web browser or your Internet Service Provider (ISP)
was not working properly and this problem was apparent to you when you
attempted to initiate a transfer or bill payment;
4) If you do not initiate a bill payment soon enough for your payment to
be made and properly credited by the payee by the time it is due;
5) If, the Payee mishandles or delays a payment sent by the Bank’s third
party processor;
6) If you have not provided the Bank with the correct name, phone
number, or account information for the Payee;
7) Circumstances beyond the Bank's or the Bank’s third party processor’s
control (such as, but not limited to, fire, flood, or interference from
an outside force) prevents the proper execution of the transaction and
the Bank and its third party processor has taken reasonable precautions
to avoid those circumstances;
8) If a legal order directs us to prohibit withdrawals from the Payment
Account, if the Payment Account is closed or if the funds in the Payment
Account have been frozen;
9) If you, or anyone authorized by you, commits any fraud or violates
any law or regulation;
10) If you have not properly followed the on-screen instructions for
using the Internet Banking System;
11) There may be other exceptions to the Bank’s liability as stated in
the Deposit and Loan Agreements;
Stop Payments
Stopping the payment of a check is different from the cancellation of a
bill payment; refer to the Bill Payment Service section in this
agreement for more information. You may request stop-payments on your
account by calling Customer Service at 651.628.5909 or 1.877.382.2265 or
in writing by mailing your request to PO Box 64206, Saint Paul, MN
55164-0206.
Security
You agree to not give or make available your password or other means to
access your account to any unauthorized individuals. You are responsible
for all transactions, including any charges or fees, you initiate using
the Internet Banking System. You agree that you are responsible for any
transaction, including any charges or fees, made by another person if
you permit other persons to use the System and password or other means
to access your account, even if that person is not an account holder and
that such transaction will be deemed “authorized transaction” under the
EFTA. If you believe that your password or other means to access your
account has been lost or stolen or that someone may attempt to use the
System without your consent or has transferred money without your
permission, you must notify the Bank at once by calling (651) 628-5909
or (877) 382-2265 during normal customer service hours.
American may provide information regarding the IB System or take
instructions when a request is accompanied by your security credentials.
Change in Terms
We may change any term of this Agreement at any time. If the change
would result in increased fees for any IB System service, increased
liability for you, fewer types of available electronic fund 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 fund transfer system. We
will post any required notice of the change in terms on American’s
website or forward it to you by e-mail or by postal mail. If advance
notice of the change is not required, and disclosure does not jeopardize
the security of the account or our electronic fund 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 IB 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 the applicable deposit
agreements and disclosures govern changes to fees applicable to specific
accounts.
Electronic Fund Transfers
Your Rights and Responsibilities
The Electronic Fund Transfers we are capable of handling for consumers
are indicated below, some of which may not apply to your account. Some
of these may not be available at all terminals. Please read this
disclosure carefully because it tells you your rights and obligations
for these transactions. You should keep this notice for future
reference.
Types of Transfers
Prearranged Transfers:
• Preauthorized credits. You may make arrangements for certain direct
deposits to be accepted into you checking and/or savings accounts.
• Preauthorized payments: You may make arrangements to pay certain
recurring bills from your checking and/or savings accounts.
Telephone Transfers:
You may access your account(s) by telephone at (651) 628-2265 or 1 (888)
680-2265 using a touch tone phone, your account numbers, and a PIN to:
• Transfer funds from checking to savings
• Transfer funds from savings to checking
• Make payments from checking to loan accounts with us
• Get checking and savings account information
ATM Transfers:
You may access your account(s) by ATM using your ATM/Debit Card and PIN
to:
• Make deposits to checking or savings accounts
• Get cash withdrawals from checking or savings accounts. Daily limit:
$200 - ATM card; $300 - debit card
• Transfer funds from savings to checking
• Transfer funds from checking to savings
• Get checking and savings account information
• Access your QuikCredit account
Some of these services may not be available at all terminals.
Point-of-Sale Transaction:
• You may access your checking account to purchase goods in person, by
phone, by computer, pay for services in person, by phone, by computer,
get cash from a merchant, if the merchant permits, or from a
participating financial institution, and do anything that a
participating merchant will accept.
• You may not exceed more than $500.00 in transactions per day per ATM
card and $1,000 in transactions per day per debit card.
Computer Transfer:
You may access your account(s) by computer at www.americanbankmn.com and
using your account number(s), access id and password to:
• Transfer funds between checking and savings accounts
• Transfer funds from QuikCredit to a designated account
• Transfer funds from a Home Equity Line of Credit (HELOC) account to a
designated account
• Make payments from checking to loan accounts with us
• Make payments from checking to pay bills in the amounts and on the
days you request
• Get checking and savings account information
Electronic Fund Transfers Initiated by Third Parties:
You may authorize a third party to initiate electronic fund transfers
between your account and the third party’s account. These transfers to
make or receive payment may be one-time occurrences or may recur as
directed by you. These transfers may use the Automated Clearing House
(ACH) or other payment network. Your authorization to the third party to
make these transfers can occur in a number of ways. For example, your
authorization to convert a check to an electronic fund transfer or to
electronically pay a returned check charge can occur when a merchant
provides you with notice and you go forward with the transaction
(typically, at the point of purchase, a merchant will post a sign and
print the notice on a receipt). In all cases, these third party
transfers will require you to provide the third party with your account
number and financial institution information. This information can be
found on your check as well as on a deposit or withdrawal slip. Thus,
you should only provide your financial institution and account
information (whether over the phone, the Internet, or via some other
method) to trusted third parties whom you have authorized to initiate
these electronic fund transfers.
General Limitations:
In addition to those limitations on transfers elsewhere described, if
any, the following limitations apply:
• Transfers from a savings account to another account or to third
parties by preauthorized, automatic, or telephone transfer are limited
to 6 per month. If you exceed the transfer limitations set forth above
in any statement period, your account will be subject to closure by the
financial institution.
Refer to the current fee schedule for applicable fees.
ATM Operator / Network Fees:
When you use an ATM not owned by us, you may be charged a fee by the ATM
operator or any network used (and you may be charged a fee for a balance
inquiry even if you do not complete a fund transfer).
Documentation:
Terminal Transfer: You can get a receipt at the time you make a transfer
to or from your account using a(n):
• Automated Teller Machine (ATM)
• Point-of Sale terminal (POS)
• You may not get a receipt if the amount of the transfer is $15 or
less.
Preauthorized Credits:
If you have arranged to have direct deposits made to your account at
least once every 60 days from the same person or company, you can call
us at the telephone number listed below to find out whether or not the
deposit has been made:
In addition:
• You will get a monthly account statement from us, unless there are no
transfers in a particular month. In any case, you will get a statement
at least quarterly.
• (651) 628-2265 or 1 (888) 680-2265
Preauthorized Payments:
Right to stop payment and procedure for doing so:
If you have told us in advance to make regular payments out of your
account you can stop any of these payments. Here’s how:
• Call or write us at the telephone number or address listed in this
disclosure, in time for us to receive your request 3 business days or
more before the payment is scheduled to be made. If you call, we may
also require you to put your request in writing and get it to us within
14 days after you call.
• We charge for each stop payment, refer to current fee schedule
Notice of varying amounts. If these regular payments may vary in amount,
the person you are going to pay will tell you 10 days before each
payment, when it will be made and how much it will be. (You may choose
instead to get this notice only when the payment would differ by more
than a certain amount from the previous payment, or when the amount
would fall outside certain limits that you set.)
Liability for failure to stop payment of preauthorized transfer:
If you order us to stop one of these payments 3 business days or more
before the transfer is scheduled, and we do not do so, we will be liable
for your losses or damages.
Financial Institution’s Liability:
Liability for failure to make transfers: 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, we will be liable for your losses
or damages. However, there are some exceptions. We will not be liable:
• If, through no fault of ours, you do not have enough money in your
account to make the transfer
• If the transfer would go over the credit limit on your overdraft line
• If the automated teller machine where you are making the transfer does
not have enough cash
• If the terminal or system was not working properly and you knew about
the breakdown when you started the transfer
• If circumstances beyond our control (such as fire or flood) prevent
the transfer, despite reasonable precautions that we have taken
• There may be other exceptions stated in our agreement with you.
Confidentiality:
We will disclose information to third parties about your account or the
transfers you make:
• Where it is necessary for completing transfers; or
• In order to verify the existence and condition of your account for a
third party, such as a credit bureau or merchant; or
• In order to comply with government agency or court orders; or
• As explained in the separate Privacy Disclosure.
Unauthorized Transfers:
Consumer Liability: Tell us at once if you believe your card and/or code
has been lost or stolen, or if you believe that an electronic fund
transfer has been made without your permission using information from
your check. Telephoning is the best way of keeping your possible losses
down. You could lose all the money in your account (plus your maximum
overdraft line of credit). If you tell us within 2 business days after
you learn of the loss or theft of your card and/or code, you can lose no
more than $50 if someone used your card and/or code without your
permission. Also, if you do NOT tell us within 2 business days after you
learn of the loss or theft of your card and/or code, and we can prove we
could have stopped someone from using your card and/or code without your
permission if you had told us, you could lose as much as $500. Also, if
your statement shows transfers that you did not make, including those
made by card, code or other means, 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.
If a good reason (such as a long trip or a hospital stay) kept you from
telling us, we will extend the time period.
Debit MasterCard®:
Unless you have been grossly negligent or have engaged in fraud, you
will not be liable for any unauthorized transactions using your lost or
stolen MasterCard debit card. This additional limit on liability does
not apply to ATM transactions or to transactions using your Personal
Identification Number which are not processed by MasterCard.
Contact in event of unauthorized transfer. If you believe your card
and/or code has been lost or stolen, call or write us at the telephone
number or address listed at the end of this disclosure. You should also
call the number or write to the address listed at the end of this
disclosure if you believe a transfer has been made using the information
from your check without your permission.
Error Resolution Notice:
In case of errors or questions about your electronic transfers, call or
write us at the telephone number or address listed below, as soon as you
can, if you think your statement or receipt is wrong or if you need more
information about a transfer listed on the statement or receipt. We must
hear from you no later than 60 days after we sent the FIRST statement on
which the problem or error appeared.
• 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 tell us orally, we may require that you send us your complaint or
question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (5
business days if involving a MasterCard transaction or 20 business days if the
transfer involved a new account) 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, a point-of-sale
transaction, or a foreign-initiated transfer) to investigate your
complaint or question. If we decide to do this, we will credit your
account within 10 business days (5 business days if involving a
MasterCard
transaction or 20 business days if the transfer involved a new account)
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 10 business days, we may not credit your account. An
account is considered a new account for 30 days after the first deposit
is made, if you are a new customer.
We will tell you the results within 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.
Additional Information:
• Some services may not be available at all ATM or POS terminals
• Your balance shown at the ATM does not reflect your available funds
from an Overdraft Protection Line (QuikCredit) or a savings account or
another account that you may have set up an automatic transfer from to
avoid an overdraft
• If you access your QuikCredit or savings account by withdrawing funds
from an ATM, interest will accrue from that date on your QuikCredit and
the interest accrued on your savings account will be affected.
• Items that may overdraw your account include checks, in person
withdrawals, ACH items or other electronic transactions.
I (we) have received, read and understand the above Agreement and
Disclosures. I (we) also understand that this agreement is subject to
change and that notifications of any changes are addressed in the above.
I (we) agree to pay the published monthly fee and any other fee
associated with this service including but not limited to bill payment,
stop payment and research fees. I (we) authorize American to deduct all
applicable fees from any account that I have at the Bank.
I (we) understand that online bill payment is provided to me for my
convenience.
This authorization will remain in effect until terminated by either
party by written notice to the other or the account is closed. Please
contact us with any questions you may have in regards to the attached
agreement or disclosure Monday through Friday 8 a.m. – 5 p.m. CST at:
American Bank, PO Box 64206, Saint Paul, MN 55164-0206, or (651)
628-5909 or (877) 382-2265.
Please print a copy of this disclosure for your records.
