Online Bill Pay Agreement
Terms & Conditions
This Agreement is an addendum to the American State Bank online banking services
agreement that sets out additional rules, restrictions, and guidelines related to
Bill Payment Services. Your use of the Bill Payment Services is an acceptance of
this Agreement and makes it a part of your overall online services agreement with
American State Bank.
As used in this Agreement, "you" or "your" refers to each person(s) subscribing
to, using or accessing the Bill Payment Services (the "services"); "we," "it," "us,"
"our," or "Bank" refers to American State Bank and any agent, independent contractor,
designee, or assignee that American State Bank may, in its sole discretion, involve
in the provision of these Bill Payment Services.
Bill Payments
Account Designation and Payees. All Bill Payments you make through these online
services will be transacted through various service providers. All Bill Payments
will be deducted from your account designated as your Bill Payment account. Any
payee you wish to pay through these online services must be payable in U.S. Dollars
and located in the United States. Each payee must appear on the payee list in your
database or you will need to create a new payee. You may not use these online services
to make payments to a federal, state or local governmental or tax unit, or to other
categories of payee that Bank may establish from time to time. Bank reserves the
right to refuse to pay any person or entity to whom you may direct a payment. Bank
is obligated to notify you promptly if it decides to refuse to pay a person or entity
designated by you. This notification is not required if you attempt to make a payment
to a category of payee which is prohibited under this Agreement.
Processing. The Scheduled Initiation Date is the date you select
for the transaction to occur. Bill Payments are processed twice each business day
at 2:00 A.M. and 12 Noon (Central Standard Time). Funds will be taken out of your
primary checking account on or several days after the Scheduled Initiation Date
entered by you. In many cases, your Bill Payments are electronically delivered to
the payee within five business days of the Scheduled Initiation Date. However, some
payees are not set up to accept electronic payment. In these cases, a check will
be sent, which may take up to ten business days to process and deliver to the payee.
Therefore, you must allow sufficient time (up to 5 business days for electronic
payment or 10 business days for payment by check) for your request to be received
and processed in order for funds to be delivered to the payee before the payment
due date. These bill payments are processed by outside service providers and the
Bank is not responsible for making payments upon your authorization or for mailing
or sending a payment to the designated payee. The 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 on the Scheduled Initiation Date or the payment processing date; if
the estimate of time to allow for delivery to the payee is inaccurate; due to delays
in mail delivery, changes of merchant address or account number, the failure of
any merchant to account correctly for or credit the payment in a timely manner;
for any lack of care by the outside service providers; or for any other circumstances
which are beyond the control of the Bank. If the Bank causes an incorrect amount
of funds to be removed from your transaction account or causes funds from your transaction
account to be directed to a person or entity that does not comply with your payment
instructions, the Bank shall be responsible for returning the improperly transferred
funds to your transaction account.
THE FOREGOING SHALL CONSTITUTE THE BANK'S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY.
IN NO EVENT SHALL THE BANK BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL,
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 THE BILL PAYMENT SERVICES.
Exclusions on Warranties
THE SERVICE 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.
Limitations on Services
Dollar Limitations. There is a dollar limit of $ 9,999.99 (or the
available balance in my deposit account, whichever is less) on any Bill Payment
without prior approval from the Bank.
Transfer Limitations.
Except as provided herein, all Bill Payments to and from an account are subject
to the terms and conditions applicable to such account as set forth in the account
agreement governing such account.
Available Funds Required.
All Bill Payments initiated through these online services are subject to there being
sufficient funds available in the affected account to cover the Bill Payment on
the Scheduled Initiation Date and the date that payment is presented to the Bank
for payment.
Stopping or Modifying online banking Authorized Payments.
Processing of a Bill Payment cannot be stopped after the first processing time on
the Scheduled Initiation Date that occurs after you request the transaction. If
the Bill Payment has already been processed, you may call American State Bank Customer
Service at 903/859-2211 and request a stop payment. If the Bill Payment has not
yet been received and cleared by the Bank, American State Bank Customer Service
will place a stop hold on the Bill Payment for a specified fee. A copy of the canceled
check can be requested for a fee.
Authorization To Charge Accounts. You authorize Bank to charge
your designated account(s) for any transactions accomplished through the use of
these online services, including the amount of any Bill Payment made though the
use of these online services, and for any charges for the Service and/or Stop check
payment requests. You authorize Bank to process Bill Payments according to the instructions
that Bank receives if the instructions are received by Bank through these online
services. You authorize Bank to initiate any reversing entry or reversing file,
and to debit your accounts at the Bank, in order to correct any mistaken credit
entry.
You understand that if a Bill Payment request describes the beneficiary inconsistently
by name and account number, execution of the request may occur on the basis of the
account number, even if it identifies a person different from the named beneficiary.
Your obligation to pay the amount of the Bill Payment to the Bank is not excused
in such circumstances.
Bank will have no liability for the execution or failure to execute a Bill Payment
request which includes a discrepancy between the name of a person and an account
number or which is to be made from an account with insufficient available funds.
Bank will not be responsible for resubmitting any payment for you after funds become
available in an account from which a Bill Payment was to be made.
CONTACT BANK AT ONCE if you believe your password has been lost,
stolen, used without your authorization, or otherwise compromised, or if someone
has transferred or may transfer money from your accounts without your permission.
An immediate telephone call to us is the best way to reduce any possible losses.
You could lose all the money in your accounts. If you contact us within 2 business
days after you learn of the loss, theft, compromise, or unauthorized use of your
password or account, you can lose no more than $50 if someone used your password
or account without your permission. If you do NOT contact us within 2 business days
after you learn of the loss, theft, compromise, or unauthorized use of your password
or account, and we can prove we could have stopped someone from using your password
to access your accounts without your permission if you had told us, you could lose
as much as $500. Also, if your paper statement shows transactions that you did not
authorize, contact us at once. If you do not tell us within 60 days after the paper
statement was mailed to you, you may not get back any money you lost through transactions
made after the 60 day time period if we can prove that we could have stopped someone
from taking the money or recovered the money if you had told us in time.
Information Authorization. You agree that the Bank reserves the
right to obtain financial information regarding your account from a merchant or
financial institution in order to resolve payment posting problems. You also agree
that we may disclose information to third parties about your account or the transactions
you authorize if it is reasonably necessary for completing transfers.
Assignment. You may not assign this Agreement to any other party.
The Bank may assign this Agreement to any future, directly or indirectly, affiliated
company. The Bank may also assign or delegate certain of its rights and responsibilities
under this Agreement to independent contractors or other third parties.
No Waiver. The Bank shall not be deemed to have waived any of its
rights or remedies hereunder unless such waiver is in writing and signed by the
Bank. No delay or omission on the part of the Bank in exercising any rights or remedies
shall operate as a waiver of such rights or remedies or any other rights or remedies.
A waiver on any one occasion shall not be construed as a bar or waiver of any rights
or remedies on future occasions.
Captions. The captions of Sections hereof are for convenience only
and shall not control or affect the meaning or construction of any of the provisions
for this Agreement.
BY ACCESSING THESE SERVICES YOU ARE INDICATING YOUR AGREEMENT TO BE BOUND BY THE
TERMS OF THIS AGREEMENT. IF YOU DO NOT WISH TO AGREE TO THE TERMS OF THIS AGREEMENT,
YOU SHOULD IMMEDIATELY DISCONTINUE USING AND ACCESSING THESE SERVICES. BANK MAY
MODIFY THIS AGREEMENT AT ANY TIME AND FROM TIME TO TIME IN BANK'S SOLE DISCRETION
WITHOUT NOTICE TO YOU. YOU SHOULD PERIODICALLY REVIEW THIS AGREEMENT CAREFULLY IN
ORDER TO MAKE SURE THAT YOU ARE AWARE OF THE MOST CURRENT TERMS AND CONDITIONS FOR
THE USE OF THESE SERVICES. ANY USE OF THESE SERVICES BY YOU AFTER ANY CHANGE TO
THIS AGREEMENT, WHETHER OR NOT YOU HAVE REVIEWED THE AMENDED AGREEMENT, CONSTITUTES
YOUR ACCEPTANCE OF THE AGREEMENT AS CHANGED. Bank may discontinue the operation,
maintenance or provision of these services and/or any related content, features,
products or services, or the terms thereof, at any time without notice or liability
to you or to any third party.
Termination or suspension of online service
Your Right to Terminate — You may cancel these Bill Payment
Services at any time by providing us with written notice by postal mail or fax.
Your access to these Bill Payment Services will be suspended within 3 business days
of our receipt of your instructions to cancel the service. You will remain responsible
for all outstanding fees, checks, and charges issued or incurred prior to the date
of cancellation.
Bank's Right to Terminate or Suspend — You agree that Bank
can terminate or limit your access to these Bill Payment Services for any of the
following reasons: (1) without prior notice, if you have insufficient funds in any
one of your bank accounts (these Bill Payment Services may be reinstated, at Bank's
sole discretion, once sufficient funds are available to cover any fees, pending
transfers, and debits); (2) upon 3 business day's notice, if you do not contact
Bank to designate a new Primary Checking Account immediately after you close your
Primary Checking Account; or (3) upon reasonable notice, for any other reason at
Bank's sole discretion, including insufficient volume of transactions. Bank also
reserves the right to temporarily suspend the Bill Payment Services in situations
deemed appropriate by Bank, in Bank's sole and absolute discretion, including when
Bank believes a breach of the system security has occurred or is being attempted.
Bank may consider repeated incorrect attempts to enter your Access ID or Password
as an indication of an attempted security breach.
In any such event, Bank may (but is not obligated to) immediately discontinue making
previously authorized transfers, including recurring or scheduled payments that
were previously authorized or issued but not yet processed. Termination or suspension
of the online services does not affect your obligations under this Agreement with
respect to occurrences before termination or for your cooperation after termination.