On-line Banking Agreement and Disclosure

This Agreement and Disclosure provides information about the On-line Banking service through the Garrett State Bank (GSB) and contains certain disclosures as required by law.  By using On-line Banking, you accept all the terms and conditions of this Agreement. Please read it carefully.  Please refer to the ‘Your Deposit Account’ disclosure brochure you received when establishing your account(s) with the bank for other disclosures that may apply.  You may obtain a current disclosure from any of our offices.

For the purpose of this document, “You” and “yours” shall refer to each Depositor who signs up for On-line Banking and is approved by the bank. “Bank”, “Us” or “Our” shall refer to the Garrett State Bank.  All references to time of day in this Agreement and Disclosure refer to Eastern Standard Time. Transactions and accounts governed by this Agreement are also subject to applicable federal and Indiana laws and regulations and any other rules or agreements governing or referring to the transactions or accounts, including but not limited to account agreements, debit card rules, funds availability rules, depository agreements and the Operating Rules of the National Automated Clearing House Association. Except as may be specifically indicated in this Agreement, in cases of inconsistency or conflict between the other rules or agreements and this Agreement, this Agreement shall control.

A. On-line Banking Service
On-line
Banking service is a consumer electronic banking service. You may access On-line Banking service using a personal computer (PC) through our web page on the Internet (www.garrettstatebank.com) or with acceptable mobile devices.  To access account information, make transfers or pay bills you must first complete an enrollment form.  Once this form is verified and approved by the Bank, a confirmation will be mailed to your address on file.   

B.  Equipment
To access the Garrett State Bank On-line Banking service, you will need an Internet service provider, using Internet Explorer 5.0 or greater or Netscape Communicator 6.2 or greater with 128 bit strong encryption. For best results, your screen resolution should be set to 800 x 600.

C.  Joint Accounts
If two or more depositors are joint owners of an account(s) accessed by On-Line Banking, each of the individuals will be required to sign-up for the service and use their own individual User ID and password.  Each person on a joint account will be liable for all transactions that are made on that account by any owner, including those transactions made through On-Line Banking or Bill Payment services.

D. Business Day
Garrett State Bank’s Business Days are Monday through Friday, not including holidays.  On-line Banking account transfers and Bill Payment transactions prior to 4:30 p.m. Eastern Standard Time on a Business Day will be considered made that day.  Any transaction after 4:30 p.m. will be accepted as if made the following business day.

E. Service Available through On-line Banking
The GSB On-line Banking site provides internet banking 24/7.  Access is through the Garrett State Bank web site at  
www.garrettstatebank.com or with a registered mobile device.   By using this service you may access your  own account(s), transfer funds between your accounts, make payments on your Garrett State Bank loans and set up scheduled transfers between your accounts.  If you request, and we approve, you may access the Garrett State Bank Bill Payment Services through the On-Line Banking site.

F. Limitations on Services

  1. Transfer Limitations. All transfers to and from an account are subject to the terms and conditions applicable to such account as set forth in the account agreements governing such account. With respect to money market accounts and savings accounts, You may not make more than six transfers or withdrawals each statement period to another account of yours, when these transfers are made by means of a pre-authorized or automatic transfer, or telephonic agreement, order or instruction, including transactions initiated through On-line Banking.
  2. Available Funds Required. All transfers and payments initiated through On-line Banking and or Bill Payment are subject to there being sufficient funds available in the affected account to cover the transfer or payment on the Scheduled Date of the transfer or payment.
  3. Overdrafts.  If your account has insufficient funds to perform an On-line Banking transfer or Bill Payment debit, then:
    1. The transfer or Bill Payment debit initiated through On-line Banking may, at our option, be cancelled;
    2. Bill Payment orders may be delayed until sufficient funds are available to honor the request; and
    3. If the bank, at our option, elect to allow a transfer or Bill Payment debit to occur even though there are not sufficient funds to cover said item, overdraft charges may be assessed.

G. Authorization to Charge Accounts.
You authorize us to charge your account(s) for any transactions originated through On-line Banking or Bill Payment Services originated with your User ID and private password.  

H. Account Information: Electronic Notice
You may check the balance(s) of your Garrett State Bank accounts included on your enrollment form.  Not all accounts may be available for viewing through the On-line Banking service nor may all account activity be displayed through this service.   (NOTE: the balance figures may not reflect recent transactions, and may include funds, which are not subject to immediate withdrawal.)

I. Security Procedures
A User ID and Password will be issued to you for security purposes. To utilize the services, you will need to enter your Password and otherwise satisfy the system’s security procedures.  Upon accessing On-line Banking for the first time, you will be required to change your password.  The Password is confidential and should not be disclosed to third parties. You are responsible for the safekeeping of the Password. You agree not to disclose or otherwise make the Password available to anyone, including individuals that may represent themselves as employees of the Bank.  We will never ask you to disclose your password to us for any reason.  As a security measure you will be required to change your password periodically.  Passwords are critical to the security of your information and must meet the following conditions.  The length of the password must be between 8 and 16 characters.   The password must contain at least 1 lowercase letter, at least 1 UPPERCASE letter, at least 1 number and at least 1 special character.  We strongly recommend you do not use commonly known names, addresses, birthdays, etc. that can be easily guessed by others.  Passwords should be memorized and not written down.  The combination of User ID and your private password constitutes an equivalent to your signature as authorization of the transactions.   

J. Liability for Unauthorized Use:
You will notify us immediately if You believe that your Password has become known to an unauthorized person, or if you believe someone has transferred money or made payments without your permission. You may contact us by phone at 1-260-357-0313 or in writing to Garrett State Bank Attn: Bookkeeping Dept., P.O. Box 29, Garrett, IN  46738.

K. Financial Institution’s Liability for Failure to Make Payments:
If we do not make a payment or transfer on time, or in the correct amount according to your instructions through the On-line Banking or Bill Payment service, we may be liable for your losses and/or damages.  However, there are some exceptions. We will not be liable, for instance, if:

  1. Through no fault of ours, your account does not contain sufficient funds to make the payment or transfer.
  2. If you have an overdraft line and the transfer would go over the credit limit.
  3. If the equipment, phone lines, or computer systems were not working properly or were temporarily unavailable.
  4. Circumstances beyond our scope of control, such as fire or flood, prevented the payment or transfer, despite reasonable precautions that we have taken.
  5. A court order or legal process prevents us from making a transfer or payment from your account.
  6. You have previously reported your Password compromised by an unauthorized individual.
  7. You have previously terminated this agreement, or any of the accounts involved in the transfer have been closed. 
  8. Any payment information entered by you for a Bill Payment vendor is incorrect
  9. There may be other exceptions stated in our agreement with you.

L. Errors or Questions:

You will telephone us at 1-260-357-0313 or write GSB, (Attention: Bookkeeping Dept.) P.O. Box 29, Garrett, IN  46738 as soon as you can, if you think your statement or receipt is wrong. We must hear from you no later than 60 days after we sent the statement on which the problem or error appeared. A statement is considered to have been sent when it is first made available. You must:

  1. Tell us your name and account number
  2. Describe the error 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.
  3. Tell us the dollar amount of the suspected error.

If You tell us verbally, we may require you to send your complaint or question in writing within ten business days. We may require you to provide your complaint in the form of an affidavit.

We will determine whether an error occurred within 10 business days (20 business days if the transfer in question 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 calendar days (90 days if the transfer involved a new account) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (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 ten days, we may choose not to credit your account.

If we determine that there is no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

M. Account Information Disclosure:
We may collect information from you or about you in the course of doing business with you and we will disclose this information only where allowed by law.  Please review the PRIVACY Notice as disclosed on our web site, or in the “Your Deposit Account” disclosure brochure or mailed annually to you. 

N. Documentation and Verification of Payments and Transfers:

  1. Confirmation Numbers
    Upon completion of a transaction using On-line Banking, a confirmation number will be given. You should record this number, along with the transfer and payment information.  No other receipts will be given for these transactions. 
  2. Periodic Statements
    Information concerning On-line Banking transactions will be shown on your normal statement for the account to and from which transfers or payments are made.

 

O. 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 On-line Banking. We may terminate your On-line Banking privileges without notice to you if you do not comply with those agreements. The regulations governing my deposit account are set forth in the Deposit Account Agreement “Your Deposit Account”, which you received when you opened your accounts, and a copy of which is available from any branch location.  If you do not use this service for a period of six (6) months, your access may be disallowed.  To re-activate the service, you will need to contact the bank.

P. Change in Terms

We will mail, deliver a written notice to you, post changes on our Web site, or email you any change in term as required by law 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, charges, or increased liability for you.  If advanced notification is not required by law, we will not notify you.

Q. Bill Payment Service:                                                                                                      

Upon approval by the Bank of a request by you to utilize the Garrett State Bank Bill Payment services, you will be required to setup complete payee information of those vendors you wish to make payments through using this service.  The information required for this will include the complete name of the vendor, the account number on your bill or invoice, the vendor’s remittance address as shown on your bill or invoice, the amount of the payment and the date you want the payment processed.  Some payments will be electronic and will generally take a few days to be received and processed by the vendor, while other payments will be made by paper draft that generally can take six business days to be received and processed by the vendor.  By using the Bill Payment Services, you agree that any instructions received by us under your user ID and password are authorized and will be processed against your checking account either electronically or with a “no signature required draft”.   You agree we are not responsible for the timely processing and handling of either electronic or paper payments that are affected by sources outside of our control.   To cancel a bill payment that you have scheduled through Bill Payment, you must cancel the payment online prior to the scheduled payment date.  To Stop Payment on a payment that is paid by check, you must notify us immediately at 260-357-0313 and provide all information precisely as originally entered into Bill Payment.  A stop payment order must be made as to allow us sufficient time to act upon the request before the item is presented for payment to us.  Paper drafts may only be stopped prior to being debited against your account.  You CANNOT cancel or stop payment on a Bill Payment order which is paid electronically once the payment has been debited from your account.  .See the “Terms and Conditions of the Bill Payment Service for additional conditions.    

R. Disclaimer of Warranty and Limitation of Liability
We make no warranty of any kind, express or implied, in connection with the On-Line Banking or Bill Payment Services provided to you under this Agreement. We do not warrant that our On-line Banking and Bill Payment Services will operate without errors, or be available and operational at all times.

 

S. Rights to Terminate
You may cancel your On-line Banking or Bill Payment Service at any time by providing us with written notice or notification in person at one of our offices.  Upon notification, we will terminate your access to the service within a reasonable amount of time.  You will continue to be responsible for any outstanding payment orders you initiated prior to the notification.  We have the right to terminate or limit your access to On-line Banking or Bill Payment Services without prior notice, if you have insufficient funds in your account to cover outstanding debits or bill payment requests. We may also terminate your On-line Banking or Bill Payment Services upon reasonable notice, for any other reason at our discretion.