Agreement and Electronic Funds Transfer (EFT) Disclosure
"Farmington Bank Online Banking" or "Online Banking" is a consumer electronic banking service that allows you to access Account information, check balances, transfer funds and, if you elect, pay bills. You may access Online Banking through Farmington Bank's web page on the Internet. Our Internet address is www.farmingtonbankct.com. For the purpose of this document, "You," and "Your" shall refer to each depositor who signs up for Farmington Bank's Online Banking. "We," "Us," "Our" and "Bank" shall refer to Farmington Bank. Business days are Monday through Friday. Holidays are not included. All references to time of day in this Agreement and Disclosure refer to Eastern Standard Time.
GENERAL INFORMATION ABOUT FARMINGTON BANK ONLINE BANKING:
You may use Online Banking any time, day or night, seven days a week. However, Online Banking may occasionally be temporarily unavailable due to bank record updating or technical problems. You may choose to enroll for Farmington Bank Online Bill Pay, which allows you to pay your bills electronically through our Web Site. There is no charge for Farmington Bank Online or Farmington Bank Online Bill Pay.
SERVICES AVAILABLE THROUGH FARMINGTON BANK ONLINE BANKING:
The Online Banking service allows you to:
• Check balances
• Transfer funds electronically between Accounts
• Review statements and other Account information
• Send e-mail to us
• View your check images
• Place a stop payment on any check you wrote that is drawn on Farmington Bank
The Online Banking Bill Payment service allows you to:
• Access any checking Account to pay most bills
• Add, change, and delete payments
• Cancel or modify Future and Recurring Bill Payments and Transfers. Note: your ability to cancel payments and transfers is limited; see the Canceling Online Banking Payments section of this disclosure
• Export bill pay data to popular personal financial management packages like Quicken or Money
ACCESS:
If two or more depositors are joint owners of the Accounts accessed by Online Banking, each may have access to those Accounts through Online Banking by simply enrolling. Since each individual has a personal Access ID and Password, no transfers or payments may be made from any Account that requires more than one signature.
ACCOUNT INFORMATION:
You may check the balances of Farmington Bank Accounts that are accessed by Online Banking. NOTE: The balance figure may not reflect your most recent transactions, and may also include funds which may not be immediately available for withdrawal. You may get a listing of your current statement, previous statement, previous day's transactions, and current day's transactions.
TRANSFERS:
You may transfer between Accounts that you select through Online Banking. All these Accounts must be in your name and you may transfer available funds only. You will receive immediate credit upon completion of your Online Banking session for any transfers you make.
LIMITATIONS ON SERVICES:
Special rules apply for Money Market and Savings Account Withdrawals. You can make no more than 6 preauthorized transfers, transfers made by check, draft or similar order made by you and payable to third parties, telephone transfers, or Internet banking transfers from the Account per month. You can make as many over-the-counter withdrawals as you wish. We will monitor compliance with these limitations based on the date on which the transfer was made.
Pre-authorized transfers made to pay loans you have with us are not counted as part of the six transfers we permit you to make.
SECURITY PROCEDURES:
When you open your Farmington Bank checking account, you are automatically enrolled for our Telebanking service using the last four digits of your Social Security number as your temporary PIN. This same PIN will also enable you to immediately enroll for Online banking. . The first time you log on, you will be prompted to change your Access ID and Password. You must enter your Access ID and Password at the start of every web session to use Farmington Bank Online Banking. Your Access ID and Password are confidential and you are responsible for keeping them confidential. You agree not to disclose or otherwise make your Access ID or Password available to anyone not authorized to withdraw funds from your Accounts. We recommend you change your password periodically.
BILL PAYMENTS:
You may authorize the bank to make a payment on your behalf to any person or entity with an address in the United States. All Bill Payments you make through Online Banking will be deducted from the checking Account you choose and sent by check to the payee you have named. Your authorization in this manner allows the bank to process these payments without your signature. You cannot use Online Banking to make payments to the IRS or court ordered payments. While most payees can be paid by using the Bill Payment feature, we reserve the right to refuse to pay certain payees. You must have sufficient funds available in order to complete any authorized payments. We will continue to try to submit your payment daily until funds become available unless notified by you to discontinue. Checks, electronic payments, withdrawals or other instruments drawn on your Account will be paid by the bank in any order decided by the bank.
You should allow 10 business days for your payment to be sent, and subsequently received, and processed by the payee. Recurring payments (such as a loan payment) can be set up in the Online banking system for the same payee in the same amount and on the same date each month. Payments that are to be sent on a Saturday, Sunday or a holiday will be processed on the next business day. Payment instructions must be received by 4:00 PM to be processed on that day. The bank is not responsible for delays in the delivery of payments by the U.S. Postal service nor for any late charges or finance charges that may be imposed as a result of your payment not being received or processed by the due date by the payee.
Farmington Bank is not liable in any way for damages you incur if you do not have sufficient funds in your Account to make the payment, if you do not allow sufficient time for delivery to the payee, or due to delays in mail delivery, changes of merchant address or Account number, the failure of any merchant to process the payment correctly or credit the payment in a timely manner, or for any other circumstances beyond the control of Farmington Bank.
Canceling or Modifying Online Bill Payments:
Payments designated as on “Demand” transactions and done by you may be canceled or changed before 4:00 PM on any business day. In order to cancel or change an Online Banking transaction designated as “Future” or “Recurring”, you must use your online Banking session and access your payment list. You must cancel the payment or transfer by 4:00 PM on the scheduled business day.
Stopping Bill Payments:
The initiation by you of certain electronic fund transfers from your Account will effectively eliminate your ability to stop payment of the transfer. Unless otherwise provided in this agreement, you may not stop payment of electronic fund transfers. Therefore, you should not employ electronic access for bill pay unless you are satisfied that you will not need to stop payment.
Canceling Bill Payment Service:
You may cancel your use of the service at any time by sending an electronic message or request to us at info@farmingtonbankct.com or call us at 860-676-4600 or toll free at 1-877-376-2265. If you notify us by telephone, we may request that you put your request in writing. We cannot cancel the service until all pending payments have cleared. If you have pending payments and do not want to wait for them to clear, you may individually delete these future payments. You will not receive a refund of any service fee if you cancel. We may cancel the service, in whole or in part, at any time without prior notice. Cancellation shall not affect your liability or obligations under this agreement. If the Account is a joint Account, any owner of the Account may ask us to end this Agreement, or end the right to use Online Banking on the Account.
Liability for Failure To Make Bill Payments or Transfers:
If we do not complete a transfer to or from your Account in a timely manner in accordance with the terms and conditions of your Account and normal banking procedures or in the correct amount according to your instructions, we will be liable for certain types of losses or damages which you suffer. However, there are some exceptions. We will not be liable in the following instances.
• We will not be liable if, through no fault of ours, you do not have enough available funds in your Account to make the payment or transfer.
• We will not be liable if the Account has a hold on it for the amount of all or part of the funds necessary to make the transfer.
• We will not be liable if circumstances beyond our control prevent the transfer despite reasonable precautions that we have taken.
• We will not be liable if the equipment, or computer systems were not working properly or were temporarily unavailable.
• We will not be liable if the funds in your Account are subject to legal process or other encumbrance restricting such a transfer.
• We will not be liable if we have a reasonable basis for believing that an unauthorized use of your Password or Access ID has occurred or may be occurring or if you default under any agreement with us or if you or the Bank terminates the Agreement.
• We will not be liable if the payee does not process a payment correctly or in a timely manner.
• There may be other reasons under Federal or state law why we will not be liable.
If any of the circumstances listed immediately above occur, we will make a reasonable effort to take appropriate corrective action or to reprocess the transactions that may not have been processed.
Authorization to Charge Accounts:
You authorize Farmington Bank to debit the checking Account you designate for all Online Banking transactions, including the amount of any Bill Payment or transfer that you make plus any charges for the service. You authorize us to process Bill Payments and to transfer funds according to your instructions. You authorize us to initiate any reversing entry and to debit your Accounts at Farmington Bank or elsewhere, in order to correct any mistaken credit entry. If a Bill Payment or transfer request describes the recipient incorrectly by name or Account number, execution of the request will occur on the basis of the Account number, even if it identifies a person different from the named recipient. All Bill Payments will be made by check and your authorization in this manner allows the bank to process these payments without your signature.
Documentation and Verification of Payments and Transfers:
Confirmation Numbers:
Upon completion of a Bill or Transfer using Online Banking, you will be given a confirmation number. You should record this number, along with the payee, scheduled date and transaction amount in your checkbook register (or other permanent record), because this will help in resolving any problems that may occur. No printed receipts are issued through Online Banking.
PERIODIC STATEMENTS:
Information concerning Online Banking transactions will be shown on your regular monthly statement for the Account to and from which transfers or payments are made.
LOSS OF ACCESS ID AND PASSWORD:
The Access ID and Password (referred to hereafter as code(s)) for Farmington Bank Online are confidential and should not be disclosed to third parties. You are responsible for safekeeping your code(s). You agree not to disclose or otherwise make your code(s) available to anyone not authorized to sign on your Accounts.
If you believe your codes have been lost or stolen, call us at:
(860) 676-4600 or Toll free at 1-877-376-2265.
Or write to:
Farmington Bank
PO Box 8
Farmington, CT 06034-0008
Customer Support Center
Or email us at:
info@farmingtonbankct.com
Please note, email is not a secure method of communication. Do not use email to send us confidential or sensitive information such as passwords, account numbers, or social security numbers. If you need to provide this type of information, contact us by phone or regular mail.
LIABILITY FOR UNAUTHORIZED USE:
Tell us AT ONCE if you believe that your Password or Access ID have become known to an unauthorized person without your permission, or if someone has transferred or may transfer money from your Account without your permission. Telephoning is the best way of keeping your possible losses down. If you do not promptly notify us that you discovered your code(s) have been taken or used without your permission, you might lose all your Available Funds. If you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your code(s) without your permission.
If you do not tell us within 2 business days after you learn of the loss or theft of your Password or Access ID and we can prove we could have stopped someone from using your Online Banking service without your permission if you had told us, you could lose as much as $500.
Also, if your statement shows transfers from your 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 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.
ACCOUNT INFORMATION DISCLOSURE:
We will disclose information to third parties about your Account, and the payments or transfers you make in the following instances:
a) We will disclose information when it is necessary for completing payments or transfers, or resolving a problem relating to a payment or transfer.
b) We will disclose information as allowed by law in order to verify the existence and condition of your Account for a third party, such as a credit bureau.
c) We will disclose information to the holder of one of your checks whether it would be paid if presented at the time of the request.
d) We will disclose information in order to comply with any law, court order, or proper government request, such as subpoenas, tax information, bank examinations, and reports of unusual cash transactions.
e) We will disclose information, if you give us your written permission.
f) We will disclose information to government officials in connection with suspected violations of law.
g) We will disclose information to our agents, auditors and collection attorneys.
h) We will disclose information relating to the Account which does not identify you or your Account.
i) We will disclose information to third parties if you owe us money and we must take legal action to get it.
j) We will disclose information relating to your Account, which is allowed to be disclosed under state and Federal privacy laws.
ERRORS OR QUESTIONS:
If you think your statement, Internet Banking record, or passbook entry is wrong or if you need more information about a transfer listed on your statement or your passbook, call us as soon as you can.
Our phone number for this purpose is:
(860)-676-4600
Toll free (877) 376-2265
Our address for this purpose is:
Farmington Bank
PO Box 8
Farmington, CT 06034-0008
Attention: Customer Support Center
We must hear from you no later than 60 days after we sent you the FIRST statement or provided you with a passbook update on which the problem or error appeared.
You must:
• Tell us your name and Account number
• Describe the error on the transfer or payment you are unsure about, and explain as clearly as you can why you believe it is an error or why you need information.
• Tell us the dollar amount and date of the suspected error. If you tell us orally, we may require that you send your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. We may extend this time period to 20 business days if the error occurred within 30 days of the first deposit to your Account. If we need more time however, we may take up to 45 days to investigate your complaint or question, for most types of errors. (If the complaint or question concerned a transaction that was initiated in a foreign country, a point of sale transaction, or a transaction that occurred within 30 days of the first deposit to your account, we may take up to 30 days to complete our investigation.) If we decide to take extra time to investigate, we will credit your Account within 10 business days (20 business days if the error occurred within 30 days of the first deposit to your 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 the investigation. If we ask you to put your complaint in writing and we do not receive it within 10 business days, we may not credit your Account.
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 documentation that we used in our investigation.
OTHER PROBLEMS:
If you believe an error other than an electronic funds transfer problem has occurred concerning a deposit Account or if you have a problem regarding a credit Account accessed by an ATM or Debit Card, you will refer to your monthly statement for instructions regarding how to have us resolve your question or correct an error.
OTHER CONDITIONS:
You are responsible for complying with all terms of this Agreement and Disclosure and the regulations governing the deposit Accounts which you access using Farmington Bank Online Banking. We can terminate your Farmington Bank Online Banking privileges without notice to you if you do not pay any fee required in this Agreement and Disclosure when due or if you do not comply with any of the other terms and conditions of this Agreement. The regulations governing your deposit Account are set forth in our Deposit Agreement and Disclosures, a copy of which is available from any branch location.
CHANGE IN TERMS:
We will mail or deliver a written notice to you at least 30 days before the effective date of any change in a term or condition disclosed in this Agreement and Disclosure, if the change would result in increased fees or charges, increased liability for you, fewer types of available electronic fund transfers or stricter limitations on the frequency or dollar amounts of transfers, unless prior notice is excused by law.
TERMINATION OF THIS AGREEMENT:
We may terminate this agreement and your ability to use Farmington Bank Online Banking services at any time for any reason. We will try to notify you in advance, but we are not obligated to do so. You may terminate this agreement by giving notice of the termination to us 10 days prior to the termination date. If you terminate Farmington Bank Online Banking, you authorize us to continue making transfers and bill payments 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 or payments from your Accounts, including any transfer or payments you have previously authorized. If we terminate your use of Online Banking, we reserve the right to make no further transfers or payments from your Accounts, including any transactions you have previously authorized.
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