1 PENTUCKET BANK BANKING ONLINE SERVICE AGREEMENT FOR CONSUMERS This Agreement describes your rights and obligations as a user of Pentucket Bank’s Online Banking Service ("Services"). It also describes the rights and obligations of PENTUCKET BANK. Please read this Agreement carefully. By requesting and using these Services, you agree to comply with the terms and conditions of this Agreement and the relevant account agreement and disclosure. You should also review our Funds Availability Disclosure & our Electronic Funds Transfer Disclosure for important information relating to your Online Accounts. DEFINITIONS The following definitions apply in this Agreement: "Account" means any deposit account that you have with the Bank for personal, family or household use such as checking, savings, and money market. Account also includes any loans you may have with us such as consumer loans, residential mortgage loans and personal lines of credit. "Account Access" means your ability to access account and transaction information for Online Accounts and transfer funds between eligible Online Accounts through the Internet. "Account Agreement" means the agreements between you and us that govern the use of your Accounts, including the deposit account agreement, any funds availability agreement, electronic fund transfer agreement or disclosure, line of credit agreements, and schedule of fees and charges. "Authorized User" refers to a person who is a common owner of any or all Online Accounts. "Banking Day" shall refer to any day except Saturdays, Sundays, and federal holidays. "Bill Payment Account" means the Online Account you have authorized us to debit for payments made to Payee(s) in connection with the Bill Payment Service. "Bill Payment Service" means our service that allows you to pay funds to designated Payees based upon your instructions to us via the Internet. "Billing Account" or "Designated Account" means the Online Account that you have authorized us to charge for all fees and charges associated with the Banking Online Services. "Electronic" means electrical, digital, magnetic, wireless, optical or electromagnetic technology, or any other technology that entails similar capabilities.
2 "Banking Online Service" means collectively Account Access Services and Bill Payment Services. "Online Accounts" means those Accounts that you have access to through Banking Online Services via the Internet. "Password" means the confidential identification number selected by you for identification purposes in connection with the use of Banking Online Services. "Time of day" references are to Eastern Standard Time or Eastern Daylight Time, as applicable. "Transfer" means any electronic banking transaction, including a deposit, withdrawal or bill payment made electronically. "You" and "Your" refer to the Customer who requests the Online Services as well as any person authorized by the Customer. "We," "us" or "our" refer to Pentucket Bank, which offers the Banking Online Services and which holds the accounts accessed by the Banking Online Services. ACCESS TO BANKING SERVICES In order to activate your Banking Online Service, you must complete and return a Banking Online Application. Although all owners of each Online Account must sign the application, only Authorized Users may access Online Accounts. At the time of your initial access of Banking Online Services, you will be prompted for several key pieces of information that allow the Banking Online System to authenticate you. You will then be allowed to define a Password. You should keep your Password in a secure location. Any person having access to your Banking Online Services ID and Password will be able to access the Banking Online Services and perform all transactions, including reviewing Online Account information and making payments to other persons, for all accounts you have Online Account Access to. You will gain access to your Banking Online Services through the use of your Internetenabled device, your Internet Service Provider, your Password, and your Banking Online Services ID. Linking Your Accounts You must provide us with the account numbers for each of your Accounts in order to have access to them. Your Password will access all accounts that you have requested to be linked for Banking Online purposes. You agree to assume responsibility for all transactions up to the limits allowed by applicable law.
3 Equipment and Software Requirements To use the Banking Online Service, you need a computer with a modem and a web browser (such as Netscape Navigator®, Microsoft Internet Explorer® or an equivalent). You are responsible for the set-up and maintenance of your home computer and modem. We are not responsible for any errors or failures from any malfunction of your computer or any virus or other problems related to the use of the Banking Online Service. In order to access the Service, you will be required to use a web browser which uses encryption technology. Netscape's Navigator Version 4 or Microsoft's Internet Explorer Version 4 are the minimum required versions. The Bank recommends that you use the most recent version of Microsoft's Internet Explorer or Netscape's Navigator or equivalent browser in order to benefit from the strongest encryption technology available. We are not responsible for any error, damages or other loss you may suffer due to malfunction or misapplication of any system you use, including your browser (Netscape Navigator®, Microsoft Explorer® or otherwise), your Internet Service Provider, your software, or any equipment you may use (including your telecommunications facilities, computer hardware and modem) to access Internet Services or communicate with the Bank. USE OF YOUR SECURITY PASSWORD Your password expires every 120 days. Authorized Use of Services by Other Persons. You are responsible for keeping your Password and account data confidential. We are entitled to act on transaction instructions received using your Password, and you agree that the use of your Password will have the same effect as your signature authorizing the transaction. If you authorize other persons to use your Password in any manner, your authorization will be considered unlimited in amount and manner until you have notified us in writing, at the address below, that you have revoked the authorization and changed your Password, and you are responsible for any transactions made by such persons until you notify us that transfers by that person are no longer authorized and we have a reasonable opportunity to act upon the change of your Password. PENTUCKET BANK Electronic Banking Department P O Box 791 Haverhill, MA 01831- 2479
Unauthorized Access Please refer to our Funds Availability Disclosure and our Electronic Funds Transfer Disclosure for information about your rights and obligations if your Password is lost or stolen, or if you otherwise become aware of unauthorized transfers from your Online Account.
4 BANKING TRANSACTIONS WITH INTERNET ACCOUNT ACCESS In addition to viewing account information, you may use Online Banking to transfer funds among your deposit accounts as well as initiate loan payments to linked loan accounts. There are limits on the number of transfers you can make from your money market account. Please see our Funds Availability Disclosure and our Electronic Funds Transfer Disclosure for a description of these limitations. New services may be introduced for Online Account Access from time-to-time. We will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules which will be made available to you concerning these services. You may transfer funds through the Banking Online Services in any amount up to the available balance in your account. We deduct the amount of your fund transfer from your Account on the date you instruct us to process it. We may refuse to act on your fund transfer instruction if sufficient funds, including funds available under any overdraft plan, are not available in your account on the date you want us to transfer funds. BILL PAYMENT SERVICE The Bill Payment Service permits you to use your Internet-enabled device to direct payments from your designated Bill Payment Account to third parties you wish to pay. Your Bill Pay Account must be a checking account. Through the Bill Payment Service, you can pay bills from your Bill Pay Account to businesses or individuals. You may initiate bill payments in any amount from $1.00 to $99,999.99. All payments you make will be deducted from the account that you designate as your Bill Pay Account for the Bill Payment Service. Any payments you wish to make through this service must be payable in U.S. dollars to a payee located in the continental United States. We reserve the right to restrict types of payees to whom payments may be made using the Service from time- to-time. You should not use the Bill Payment Service to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility if delayed or improperly processed or credited. Funds must be available in your Bill Payment Account on the scheduled payment date. If the date you schedule a payment to be initiated falls on a non-banking day (Saturday, Sunday or a holiday), funds must be available in your Bill Payment Account the following Banking Day. We may make the payment either by transferring funds electronically to the payee or by mailing the payee a check. In either case, the Bill Payment Account is either debited on the date the payment is scheduled to be made or when the payee cashes the check.
5 You may choose to schedule payments to recur in the same amount at regular weekly, semi-monthly or monthly intervals. When you create a new payee in the Bill Payment Service, the payee has a temporary status until we have had sufficient time to set up the account, and for your business payees, verify information about your account. You should schedule a payment to a new payee at least ten (10) Banking Days before any payment due date, to allow us time to set up the payee and verify information about your account with the payee. For all subsequent payments, you agree to allow at least four (4) Banking Days (in some cases, depending on the relationship with the payee, a payment can be made the next day or even the same day) between the date you schedule a payment to be initiated and the payment due date (that is, the due date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period). If you do not, you will be fully responsible for all late fees, finance charges or other action taken by the payee. If you schedule your payment and follow all instructions provided, but the payment is not received by the payee in a timely manner, we will work with the payee on your behalf to attempt to have any late fees or charges reversed. We are only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. We will not be liable in any way for damages you incur if you do not have sufficient funds in your Bill Payment Account to make the payment on the processing date, for delays in mail delivery, for changes to the payee's address or account number unless you have advised us of the change sufficiently in advance, for the failure of any payee to correctly account for or credit the payment in a timely manner, or for any other circumstances beyond our control. If the session during which you schedule a payment or transfer ends by 11:59 PM (EST) on a Banking Day, we will consider to have received it on that day. Otherwise it will be considered received on the following Banking Day. For all entries made using the Bill Payment Service the time recorded by the Bill Payment Service controls. If your Bill Payment Account does not have sufficient funds to make a payment as of the date the transfer or payment is made:
We are under no obligation to make a payment or transfer on your behalf, and we shall have no liability if we do not complete a transfer or payment because there are insufficient funds in your account to process a transaction. If we do make a payment at a time when your Bill Payment Account does not have sufficient funds, we reserve the right to exercise any collection efforts deemed necessary in order to recover payments made on your behalf. We may place a block on your Bill Payment Service, which means that no further bill payments will be processed until you make funds available to pay the item. If we do not process a bill payment because of insufficient funds in your Bill Payment Account, we will mail or deliver a notice to you on or before the next Banking Day.
In the event of recurring insufficient funds your Bill Payment Service will be terminated.
If you wish to change or cancel a pending payment, you must do so using the Service. If you ask us to cancel a payment after we have issued a check and we agree to do so, we may charge you a stop payment fee. However, you should be aware that your initiation of certain electronic transfers 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 PURCHASES OR SERVICES UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO STOP PAYMENT. We process the payments you make through Banking Services in one of the following ways:
We may send payments through an electronic transmission to the Payee. Payees who receive electronic delivery will receive your payment information, including your account number, through a computer link. Payments made electronically are generally received and credited by most payees within three business days. We may send payments by check mailed to the Payee. When more than one customer schedules a payment to the same Payee on the same date (which frequently happens), we may issue a consolidated check to the Payee with an accompanying paper list of each customer by name, of each account number to be credited, and of the amount of each payment. We send all checks through the U.S. mail. Payments made with a bank check are generally received and credited by most Payees within four business days.
From time to time we may receive instructions from a Payee that direct us, in order to ensure the timely processing of your payment, to send your payment to an address other than the one that you provided us, or that direct us to make your payment electronically rather than by check, to an account owned by the Payee at another financial institution. When we receive such payment instructions from the Payee, we may follow those instructions, to help ensure that our payment is received by the Payee and promptly credited to your account. ELECTRONIC MAIL We may not immediately receive electronic mail (e-mail) that you send to us. You should not rely on e-mail if you need to communicate with us immediately; i.e., if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur. If you send us an electronic mail message, we will be deemed to have received it on the next Banking Day. We will have a reasonable amount of time to act on your e-mail.
7 You agree that we may respond to you by e-mail with regard to any matter related to the Service, including responding to any claim of unauthorized electronic funds transfer that you make. Any such e- mail sent to you by us shall be considered received within three (3) days of the date sent by us, regardless of whether or not you sign on to the Service within that time frame. OTHER AGREEMENTS In addition to this Agreement, you and we agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Banking Online Service is your acknowledgment that you have received these agreements and intend to be bound by them. You shall review other disclosures received by you when you open your accounts with us including the charges that may be imposed for electronic funds transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule at the end of this Agreement. We will automatically deduct the fees related to this Service from your Bill Payment Account each month. HOURS OF OPERATION Banking Online Services are generally accessible 24 hours a day, seven days a week, except that Services may be inaccessible for a reasonable period for system maintenance. We are not liable under this Agreement for failure to provide access due to a system failure or due to other unforeseen acts. We may modify, suspend or terminate access to the Banking Online Service at any time and for any reason without notice or refund of fees you have paid. For purposes of transactions, our Banking Days are Monday through Friday, excluding Federal holidays. Our day begins at 9:00 AM (EST). All Banking Online transaction requests received after 11:59 PM (EST) on a Banking Day, and all transaction requests on Saturdays, Sundays or holidays on which we choose to remain closed, will be processed on the next Banking Day. MODIFICATIONS TO THIS AGREEMENT We may modify the terms and conditions applicable to our Services from time-to-time upon mailing or delivering a notice of the modifications to you at the address shown on our account records and the revised terms and conditions shall be effective at the earliest date allowed by applicable law. We may send any notice to you via electronic mail and you will have been deemed to have received it three days after it is sent.
8 We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice. LIMITATION OF LIABILITY Disclaimer of Liability. You are responsible for the correct set-up and installation of software required to access the Internet. We are not responsible for any losses or delays in transmission of instructions arising out of the use of any Internet service provider providing your connection to the Internet or caused by any browser software. Neither the Bank nor any of the Bank's service providers are liable for damages (whether direct, indirect, special or consequential or otherwise), including economic, property, personal, or other loss or injury, whether caused by hardware or software or system-wide failure, arising out of your use of the Banking Online Services, or from the installation, use or maintenance of the equipment, software or other items necessary to operate Banking Online Services. Disclaimer of Warranties. a. Warranties of Merchantability and Fitness. NEITHER THE BANK, NOR ANY SOFTWARE SUPPLIER OR INFORMATION PROVIDER, MAKES ANY WARRANTY, EXPRESS OR IMPLIED, TO YOU CONCERNING THE BANKING ONLINE SERVICES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT OF THIRD PARTY PROPRIETARY RIGHTS, UNLESS DISCLAIMING SUCH WARRANTY IS PROHIBITED BY LAW. b. Computer-related Warranties. Neither the Bank nor any software supplier or information provider is liable for any computer virus or software-related problems which may be attributable to the services provided in connection with the Banking Online Services. INACTIVITY AND TERMINATION You are responsible for complying with all the terms of this Agreement and with the terms of the Account Agreements governing the deposit accounts which you access using electronic banking services. We can terminate your electronic banking privileges (including the Bill Payment service) under this Agreement without notice to you if you do not pay any fee required by this Agreement when due, or if you do not comply with the agreement governing your deposit or loan accounts, or your accounts are not maintained in good standing. We will promptly notify you if we terminate this Agreement or your use of the services for any other reason. We may convert your account to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive one hundred and eighty (180) day period. If your account is considered inactive, you must contact us
9 to have the Online Services activated before you will be able to schedule any transactions through the Online Service. To cancel the Online Account Access Services and/or Bill Payment Service, you must notify us and provide your name; address; whether you are discontinuing Online Account Access, Online Bill Payment or both; and the effective date to stop the service. When Bill Payment is terminated, you must delete prescheduled bill payments made through Online Account Access. You may notify us by one of the following methods: a. By sending an e-mail to email@example.com b. By calling 978-556-5414 9:00 AM - 5:00 PM (EST), on a Banking Day c. By writing a letter and sending it to the following address: PENTUCKET BANK Electronic Banking Department P O Box 791 Haverhill MA 01831-2479
FEE SCHEDULE Pentucket Bank account holders will receive Online Account Access and Express Bill Pay free of charge. The accounts accessed through Online Account Access are subject to normal fees identified in the Account Agreements available for each account. EVIDENCE Any documentation provided to you that indicates an electronic fund transfer was made to another person shall be admissible as evidence of such transfer and shall constitute prima facie proof that such transfer was made. GOVERNING LAW, LITIGATION This Agreement has been delivered to us and accepted by us in the Commonwealth of Massachusetts. Any action or suit brought in connection with this Agreement or the transactions contemplated herein may be brought in a court of record in Essex or Suffolk County, Massachusetts, the parties hereto irrevocably submitting and consenting to the non-exclusive jurisdiction of each thereof, and each party irrevocably waives, to the fullest extent it may effectively do so under applicable law, any objection it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that the same has been brought in an inconvenient forum. IN THE EVENT OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, IN EACH CASE WHETHER NOW EXISTING OR
10 HEREAFTER ARISING AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE, YOU AND WE KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ALL RIGHTS TO A TRIAL BY JURY AND AGREE THAT YOU OR WE MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE FOREGOING WAIVER. FOR FURTHER INFORMATION You should also review our Funds Availability Disclosure and our Electronic Funds Transfer Disclosure ("EFT Disclosure") for important information relating to your Online Accounts. Among other things, the EFT Disclosure includes information on:
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Errors and questions regarding an Online Banking or Bill Payment transaction Unauthorized transfers and the advisability of prompt reporting Our liability for failing to make certain transfers Your right to receive a regular account statement covering electronic activity in your account When we may disclose information to third parties about you or your account The limitations on the number of transfers you can make from your money market account The procedure you should follow to initiate a stop payment of a preauthorized transfer