Disclosure Agreement
General
This Online Banking Agreement ("Online Banking Agreement") for accessing your accounts and loans via Peoples Online Banking explains the terms and conditions governing the online banking services offered through Peoples Online Banking. By using Online Banking, you agree to abide by the terms and conditions of this Online Banking Agreement.
This Online Banking Agreement will be governed by and interpreted in accordance with all applicable federal laws and regulations. The following rules will apply to the extent there is no applicable federal law or regulation. This Online Banking Agreement will be governed by and interpreted in accordance with the laws of the State of Arkansas. The terms "we," "us," "our," and "Bank" refer to Peoples Bank.
Hours of Availability, Banking Days, and Cutoff Times
You can access your accounts through Peoples Online Banking 7 days a week, 24 hours a day. However, at certain times, some or all of Peoples Online Banking may not be available due to system maintenance.
During these times, you may use telephone banking, an ATM, or the bank to conduct your transactions. A transfer initiated through Peoples Online Banking before 3 PM on a business day is posted to your account the same day. All transfers completed after 3 PM on a business day or on a Saturday, Sunday, or banking holiday will be posted on the next business day. Our business days are Monday through Friday, except for federal banking holidays.
Other Agreements
Accessing your accounts through Peoples Online Banking will also be affected by the agreements between us for your Peoples Bank deposit accounts and loans. When you access accounts online, this does not change the agreements you already have with us on those accounts. For example, when you use Peoples Online Banking to access your checking account, you do so under the terms and conditions we gave you in the Deposit Agreement and Account Terms Disclosure for the account. You should review those agreements for any applicable fees, for limitations on the number of transfers you can make, and for other restrictions which might impact your use of an account with Peoples Online Banking.
Service Description
Peoples Online Banking allows you to access your accounts from your Personal Computer through the internet. Prior to accessing your accounts for the first time, you must complete the application information and submit the form. Upon receipt and the bank’s approval of your application form, we'll link your accounts and loans for your access online. Within 3 to 5 business days, Peoples Bank will provide you with a Login ID and registration password that must be entered to gain access for the first time. This number will be provided to you by phone or US mail, depending on your selected choice on your registration form. Once you have entered your Login ID and the registration password, you will be prompted to choose a new personal password.
After you have completed the application process and entered your registration number, you may access Peoples Online Banking to perform the following functions:
• View current balance information for your linked Peoples Bank checking, money market, savings, and CD
• View outstanding loan balances
• Review transactions for the past 90 days for your linked checking, savings, or money market deposit accounts
• Transfer funds between your Peoples Bank accounts that are linked through Peoples Online Banking
• View paid checks online
• Make special bank service requests for the following items
o Re-order checks
o Order copies of paid checks older than 90 days
o Order copies monthly checking or saving statements.
o Submit address changes
o Send us email messages and questions regarding your Online Banking access
Restrictions
There are certain types of accounts and account ownerships that aren't allowed to have online access. If you request on your application to have online access to an account that doesn't qualify, you will be notified by the Bank of the ineligibility. Accounts linked for transfer ability must have the same ownership. Additional signed authorizations must be completed by all account holders to link accounts that don't have the same ownership.
Stop Payment Orders (on us)
If a check written on your account, ACH debit, or electronic transaction initiated by the use of a check has not yet been paid, any authorized signer on the account and/or any individual authorized to access your account through Peoples Online Banking or Telephone Banking services may be able to prevent its being paid by initiating a stop payment order, irrespective of who signed the check or how many authorized signatures were required on the check.
To request a stop payment by phone, call (Sheridan) 870-942-5707 or (East End) 501-888-6200. To request via Peoples Online Banking, sign in to Online Banking and send us a message. In order to process your request, you must provide us with the exact amount (dollars and cents), check number, account number, and payee of the item. If you provide us with any incorrect information or do not give us sufficient time to act on your stop payment request, we will not be responsible for our failure to stop payment of the check.
To be effective, a stop payment must be received in sufficient time to enable us to act on it. For ACH and Online Bill Payment transactions, we must receive your request 3 business days or more before the payment is scheduled to be made. Our records will be conclusive evidence of the existence and details of any stop payment initiated by you.
Stop Payments initiated using Peoples Online Banking or telephone banking are not considered accepted until we provide a stop payment confirmation number to you. The ability to place a stop payment through Peoples Online Banking or telephone banking may be limited by system availability. If the system is not available to accept your stop payment order, the stop order may be placed by contacting Peoples Bank during normal business hours.
A fee may be charged for each stop payment order or renewal thereof (See Fee Schedule).
You agree to indemnify, defend, and hold us harmless (to the extent of the law) from all costs, actions, damages, claims and demands related to or arising from our action in stopping payment on a check or our failure to stop payment on a check.
Bill Payment
Peoples Bank offers Bill Payment services through a third party vendor. Should you elect to use this service, you agree to abide by that vendor’s Terms and Conditions. The Terms and Conditions of the Bill Payment Service can be viewed when you first register for BillPay, and can also be found at the bottom of each BillPay screen when within the BillPay system. Failure to pay a bill for 2 consecutive months will result in the customer being denied access to BillPay, because BillPay is a costly feature for the bank to provide.
Joint Accounts
The terms of this Online Banking Agreement extend to all joint account owners. All joint account owners must be owners (signers) on the designated joint account and each account owner must have a unique Peoples Online Banking Login ID and password. Each account designated for Online Banking can be accessed via Peoples Online Banking by any one of the joint owners. Joint owners are subject to the joint tenancy rules contained in the Deposit Agreement. Accounts that require 2 or more signatures are not eligible to be accessed through Peoples Online Banking. Any account owner may discontinue his own Online Banking service.
Changes to Agreement
We may change this agreement at any time. For example, we may add, delete, or amend terms or services. We'll notify you of such changes by mail or by e-mail. If you use Peoples Online Banking after the effective date of a change, your use indicates you agree with the change(s).
Cancellation
Your Online Banking service remains in effect until it is terminated by you or Peoples Bank. You may cancel your Online Banking at any time by notifying us of your intent to cancel in writing, through Peoples Online Banking email, or by calling the bank. We may terminate your participation in the Online Banking services for any reason, at any time. We'll try to notify you in advance, but we're not obliged to do so.
E-mail
Sending E-mail through the secured section of Peoples Online Banking is a way to communicate with the customer service department of the Bank. You may request address changes, order checks, order copies of paid items and past statements, ask questions about your account(s), or give comments on your online service. Messaging is accessible after you sign on with your password to the secure section of Peoples Online Banking. To ensure the security of your account information, we recommend you use only this method when asking specific questions about your account(s). You cannot use E-mail to initiate transactions on your account(s). For banking transactions, please use the appropriate functions within Peoples Online Banking or contact the bank.
Transfers from Money Market and Savings Accounts
Federal regulations limit the number of preauthorized electronic fund transfers and telephone transfers from money market deposit and/or savings accounts; this includes Online Banking transactions.
Preauthorized electronic fund transfers and telephone transfers, checks and point-of-sale transactions are limited to a certain number of transactions per statement cycle, depending on the type of account: Money Market – 3 transactions, Regular Savings – 2 transactions, and Emerald Savings – 1 transaction. (For information on these accounts, see our Deposit Agreement and Account Terms Disclosure) Each transfer or payment through Peoples Online Banking from your savings or money market deposit account is counted as one of the limited transfers you're permitted each statement period. We charge a fee for each transaction in excess of this limit (refer to the Peoples Bank schedule for fees). Payments to your Peoples Bank Loans are counted toward this limit for Money Market and Savings deposit accounts.
Preventing Misuse of Your Account
Your role is extremely important in the prevention of any wrongful use of your account. You must promptly examine your statement upon receipt. If you find that your records and ours disagree, you must immediately call Peoples Bank.
The password used to gain access to Peoples Online Banking should be kept confidential. For your protection we recommend you change your online password regularly. We recommend you memorize this online password and don't write it down. You are responsible for keeping your password, account numbers and other account data confidential. If you believe your online password may have been lost or stolen, or someone has transferred or may transfer money from your account without your permission, notify us at once.
In Case of Errors or questions about Your Electronic Transactions for Consumers
In case of questions or errors about online funds transfers or bill payments made through Peoples Online Banking, you should do one of the following:
Send us a message after signing on with your password to the secure section.
OR
Contact Customer Service at (Sheridan) 870-942-5707 or (East End) 501-888-6200.
Contact us as soon as you identify any errors or discrepancies in your statement or transaction record, or if you need more information about a transaction listed on the statement or transaction record. We must hear from you no later than 60 days after we have sent the first paper or online statement on which the problem or error appeared. If you notify us verbally, we may require that you send us your complaint or question in writing within 10 business days.
When you tell us about the problem, please:
- Tell us your name and account number.
- Describe the error or the transaction you are unsure about, and explain why you believe it is in error or what additional information you need.
- Tell us the dollar amount of any suspected error.
- For a bill payment, tell us the checking account number used to pay the bill, payee name, date the payment was sent, payment amount, reference number, and payee account number for the payment in question.
We'll determine if an error occurred and will tell you the results of our investigation within 10 business days (20 business days if the transfer was to or from an account within 30 days after the first deposit to the account was made) 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 or transaction involved a point-of-sale transaction, a foreign initiated transfer or a transfer to or from an account within 30 days after the first deposit to the account was made) to investigate your complaint or question. If we decide to do this, we'll credit your account within 10 business days (20 business days if the transfer was to or from an account within 30 days after the first deposit to the account was made) for the amount you think is in error, so you'll have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint(s) or questions(s) in writing and we don't receive it within 10 business days, we may not credit your account.
We'll tell you the results of our investigation within 3 business days after completing our investigation. If we decide there was no error, we'll send you a written explanation. You may ask for copies of the documents we used in our investigation.
Limitation of Bank's Liability
We will not be liable: If, through no fault of ours, you don't have enough money in your account to make a transfer or bill payment. If a legal order directs us to prohibit withdrawals from the account. If your account is closed or if it has been frozen. If the transfer or bill payment would cause your balance to go over the credit limit for any credit arrangement set up to cover overdrafts. If you, or anyone you allow, commits any fraud or violates any law or regulation. If any electronic terminal, telecommunication device or any part of the electronic fund transfer system is not working properly. If you have not provided us with complete and correct payment information, including without limitation the name, address, account number, and payment amount for the payee on a bill payment. If you have not properly followed the instructions for using Peoples Online Banking. If circumstances beyond our control (such as fire, flood or improper transmission or handling of payments by a third party) prevent the transfer or bill payment, despite reasonable precautions taken by us.
If we fail or delay in making payment or transfer pursuant to your instructions, or if we make a payment or transfer in an erroneous amount which is less than the amount per your instructions, unless otherwise required by law our liability shall be limited to interest on the amount which we failed to timely pay or transfer, calculated from the date on which the payment or transfer was to be made until the date it was actually made or you canceled the instructions. We may pay such interest either to you or the intended recipient of the payment or transfer, but in no event will we be liable to both parties, and our payment to either party will fully discharge any obligation to the other. If we make a payment or transfer in an erroneous amount which exceeds the amount per your instructions, or if we permit an unauthorized payment or transfer after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law our liability will be limited to a refund of the amount erroneously paid or transferred, plus interest thereon from the date of the payment or transfer to the date of the refund, but in no event to exceed 60 days' interest. If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the interest rate and terms associated with that particular account. UNLESS OTHERWISE REQUIRED BY LAW, IN NO EVENT WILL THE BANK BE LIABLE TO YOU FOR SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR ATTORNEYS' FEES, EVEN IF WE'RE ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES.
Additional Information for Business Customers
By using Peoples Online Banking, you acknowledge and agree this Agreement sets forth security procedures for electronic banking transactions which are commercially reasonable. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use as described above (and we had a reasonable opportunity to act on such notice).
Fee Schedule
Online Banking No Charge
Online Bill Payment 1st 15 transactions FREE; $0.50 each transaction thereafter.
Stop Payment through Online Bill Payment Services $29.50
NSF Fee - for bill payments initiated from an insufficient balance $29.50
Stop Payment Orders (On Us) $29.50
