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TERMS AND CONDITIONS AGREEMENT:
MERCHANTS STATE BANK'S INTERNET BANKING, INTERNET BILL PAY SERVICE AND MOBILE BANKING SERVICE

STATEMENT OF RIGHTS AND CONSENT TO RECEIPT OF ELECTRONIC DISCLOSURES
Prior to using Merchants State Bank’s Internet Banking, Internet Bill Pay Service, and Mobile Banking Service you must affirmatively consent to the terms of our Terms and Conditions Agreement. This consent documents your authorization for Merchants State Bank to deliver this agreement electronically. After you consent to receive this disclosure electronically, you may request or obtain a paper copy of this disclosure at no cost by contacting the Bank at the phone number or address listed below.
You may withdraw your consent to receive agreements and/or disclosures electronically after consenting to the Internet Banking, Internet Bill Pay Service, and Mobile Banking Service online and no fee will be charged. This can be done by calling Merchants State Bank at 1-866-228-9747 or writing us at:
        Merchants State Bank
        PO Box 399
        Freeman, SD 57029
If you withdraw your consent, we will send all future agreements/disclosures in paper form. The withdrawal of your consent shall be effective within a reasonable period of time after receipt by the Bank.
It is your responsibility to notify us of any changes to your email address and/or phone numbers. You can request changes by contacting us in any of the ways described above.

Required Equipment
In order to use the Internet Banking Service, you need:

  • A computer with Windows 10 or newer or operating system 10.10 or newer (in this Agreement, your computer and the related equipment are referred to together as your "Computer")
  • A web browser (i.e. Google Chrome, Edge, Firefox, or Safari).

In order to access the Mobile Banking Service and electronic documents on a mobile device, you will need:

  • A mobile device with any of the following operating systems: Android or iOS (iPhone).
  • A data plan provided by your wireless carrier.
  • To access Online Services and electronic documents through the MSB-SD app, you will need a mobile browser that is compatible with and supported by your operating system (i.e. Chrome or Safari).
  • To access Online Services and electronic documents through our mobile banking application, you will need to download the Merchants State Bank Mobile Banking application at your respective app store.
  • If you wish to view .pdf files on your mobile device, you will need software that accurately reads and displays .pdf files (such as the mobile version of Adobe Reader).

In order to use the Internet Banking, Internet Bill Pay Service or Mobile Banking Service, you will also need a User Name and Password.  This is confidential information you use to access your account(s) through these services.

You are responsible for the installation, maintenance, and operation of your mobile device, computer, browser and the software. Merchants State Bank is not responsible for any errors or failures from any malfunction of your Computer, the browser or the software. Merchants State Bank is also not responsible for any Computer virus or related problems that may be associated with the use of an online system.
 

We recommend you print and retain a copy of this consent disclosure agreement

TERMS OF USE AND DISCLOSURE INTERNET BANKING, INTERNET BILL PAY SERVICE, AND MOBILE BANKING SERVICE


This Agreement governs the use of Merchants State Bank's Internet Banking, Internet Bill Pay Service, and Mobile Banking jointly referred to as the "Service," provided by Merchants State Bank, also referred to as "the Financial Institution." By using the Service to conduct transactions, you agree to the terms of this Agreement. All references within this document to the term "Payment Service" reflect the Internet Bill Pay Service offered by Merchants State Bank.

Definitions

As used in this Agreement and the Service, the following words have the meanings given below:


"Account(s)" means your eligible Merchants State Bank checking, savings, loan, certificate of deposit information in which you are either the owner or joint owner.

"Device" means a computer, and a supportable mobile device including a cellular phone or other mobile device that is web-enabled and allows secure SSL traffic which is also capable of receiving text messages. Your wireless carrier may assess you fees for data or text messaging services. Please consult your wireless plan or provider for details.

"Mobile Banking" means the banking services accessible from the Device you have registered with us for Mobile Banking.

"You" and "Your(s)," means each person with authorized access to your Account(s) who applies and uses the Mobile Banking service.

"We," "Us," “Our,” “Financial Institution,” and "Bank" means the individual Financial Institution (Merchants State Bank) that holds your accounts.

Deposit and Credit Agreements
The terms and conditions in this Agreement shall have priority and take precedence over any existing terms and conditions in existing account and loan agreements you have with us in the event of a conflict.

INTERNET BANKING SERVICE

To use Internet Banking, you must have at least one Merchants State Bank account and an Internet Banking User ID and Password. Through Internet Banking, you will have access to any of your Merchants State Bank deposit accounts or loan accounts. Merchants State Bank reserves the right to deny access to a deposit account or loan account or to deny transactions under certain circumstances.
The User ID and Password is the confidential information you use to access your account(s) through Internet Banking.

Description of Internet Banking
The Service allows you to perform some or all of the following functions from your Computer:

Online Account Access Functions and Limitations of Transfers
You may use Internet Banking to (a) transfer funds between your accounts; (b) obtain account balances; (c) obtain history and transaction information on your accounts; (d) obtain loan account balance information. These features are limited to the extent, and subject to the terms, noted below.

  1. Your ability to transfer funds between certain accounts is limited by federal law and the Deposit Agreement. You should refer to the Deposit Agreement for legal restrictions and service charges applicable for excessive withdrawals or transfers. Transfers made using the Internet Banking Service are counted against the permissible number of transfers described in the Deposit Agreement.
  2. There may be at least a one-business-day delay in transferring funds between your account(s). Except as provided in this Agreement, Internet Banking transaction instructions received by 4:00 p.m. CDT will be completed that business day. Any instruction received after 4:00 p.m. CDT will be completed the next business day.
  3. Transactional information for your accounts will be available from Internet Banking for a maximum of 18 statement cycles from the date of inquiry.

Data Recording
When you access Internet Banking to conduct transactions, the information you enter may be recorded. By using Internet Banking, you consent to such recording.

No Signature Required
When using Internet Banking to conduct transactions, you agree that the Financial Institution may debit your account to complete the transactions, or honor debits you have not signed.

Charges
You will not be charged for the "view accounts" or "transfer funds" features of Merchants State Bank's Internet Banking. NOTE: Your accounts and loan accounts are still subject to fees, charges, balance requirements, etc. articulated in the Deposit Agreement and Loan Agreement.

BILL PAY SERVICE
I acknowledge electronic receipt of the Terms and Conditions Agreement ("Agreement") associated with Merchants State Bank's Internet Bill Pay Service (“Payment Service”) and agree that I have read and will abide by this Agreement. I also agree Merchants State Bank does not need to provide me with an additional paper (non-electronic) copy of this Agreement unless specifically requested. Furthermore, I understand that a copy of this Agreement can be printed by using my browser's print command and a printer.

Use of a Third-Party Bill Pay Service Provider
Allied is the third-party bill pay service provider who Merchants State Bank has contracted with to provide bill pay service to its customers. Allied will be processing the bills. Accordingly, the term "Allied" represents the customer service provided by Allied to Merchants State Bank. Merchants State Bank, at its sole discretion, reserves the right to change internet bill pay service providers.

Enrollment Request for the Internet Bill Pay Service
Merchants State Bank reserves the right to refuse enrollment in the Internet Bill Pay Service to any customer who does not meet the “Payment Service” criteria which has been established by Merchants State Bank and/or Allied.
The “Payment Service” allows you to perform some or all of the following functions from your Device:

Online Account Access Functions and Limitations of Transfers
You may use “Payment Service” to (a) pay bills from the site, (b) schedule recurring payments, (c) transfer funds Person to Person (“P2P”); and (d) external transfers to other financial institutions. These features are limited to the extent, and subject to the terms, noted below.

  1. Your ability to transfer funds between certain accounts is limited by the Deposit Agreement. You should refer to the Deposit Agreement for restrictions and service charges applicable for excessive withdrawals or transfers. Transfers made using the Internet Banking Service are counted against the permissible number of transfers described in the Deposit Agreement.
  2. There may be at least a one-business-day delay in transferring funds between your accounts. Except as provided in this Agreement, all Internet Banking transaction instructions received by 3:30 p.m. CDT will be completed that business day. Any instruction received after 3:30 p.m. CDT will be completed the next business day.

Description of Internet Bill Pay Service
As used in this Agreement, the term "Payee" means the vendor, biller, person, or entity to whom you wish a bill payment to be directed; "Payment Instructions" means the information provided by you to the Payment Service for a bill payment to be made to your Payee (e.g., Payee name, account number, payment amount, payment date, etc.); "Payment Account" means your Checking Account at Merchants State Bank, from which all bill payments may be made and/or such funds collected; "Business Day" means Monday through Friday, excluding Federal holidays; "Payment Date" means the Business Day of your choice upon which your bill payment will be made and your Payment Account will be debited; and "Cutoff Time" means 6:00 p.m. CDT on any Business Day, and is the time by which you must transmit instructions to have them considered entered on that particular Business Day.
 

By providing the Payment Service with the names and account information of those entities and/or persons to whom you wish to direct payment, you authorize the Payment Service to follow the Payment Instructions that it receives from you or your authorized user through the Internet Bill Pay Service. When the Payment Service receives a payment instruction, you authorize it to debit your Payment Account and remit funds on your behalf so that the funds arrive as close to the Business Day designated by you as soon as possible.
 

For this reason, it is necessary that all Payment Dates selected by you be no less than five (5) Business Days before the actual due date for payments that are being sent by check and 4-6 days for ACH payments, (not the late date and/or a date in the grace period). It is your responsibility to schedule your bill payments in such a manner that your obligations will be paid on time. Payment instructions entered after the Cutoff Time or on a non-Business Day will be considered entered in the Payment Service on the next Business Day. If you properly follow the procedures as described herein, and the Payment Service fails to send a payment according to the Payment Instructions received, the Payment Service will bear responsibility for up to $50.00 for electronic payments. In any other event, including but not limited to choosing a Payment Date which is not five (5) Business Days before the due date or on or past the due date stated on your invoice or bill, the risk of incurring and the responsibility for paying any and all late charges or penalties shall be borne by you.
 

A bill payment is "In Process" starting at the Cutoff Time on the Payment Date. A bill payment is a "Pending Payment," starting from the time you enter Payment Instructions until the payment is "In Process." A bill payment is considered "In Process" on the Business Day you selected as the scheduled Payment Date. A payment is considered "Completed" when Allied issues the payment either by check or electronically. You may cancel or edit any Pending Payment (including recurring bill payments) by following the directions provided on the Internet Bill Pay system Online Help. There is no charge for canceling or editing a Pending Payment. Please note: we may not have a reasonable opportunity to act on any stop payment or cancellation order given after a payment is "In Process" and it is not possible to stop or cancel a payment which is "Completed." If you desire to cancel or stop payment which is "In Process," you must call Merchants State Bank at 1-866-228-9747. Although we will make every effort to accommodate your request, we will have no liability for failing to do so. Stop payment requests sent to us via electronic mail or in any other manner will not reach us in time for us to act on your request. Stop payment requests will be accepted by notifying Merchants State Bank orally or in writing at least 3 business days before the scheduled date of the transfer. If you call, we may also require you to present your request in writing within fourteen (14) days after you call. The charge for each stop payment order will be $15.00. The Payment Service will use its best efforts to make all your payments properly. However, the Payment Service shall incur no liability if it is unable to complete any payments initiated by you through the Payment Service because of the existence of any one or more of the following circumstances:

  1. If, through no fault of ours, your Payment Account does not contain sufficient funds to complete the payment or transfer, or the transfer would exceed the credit limit of your established line of credit account, if applicable (Note: Merchants State Bank may, at its option, pay a scheduled bill payment which exceeds the balance in the checking account by transferring the amount of the resulting overdraft from your available line of credit indicated on the Agreement or on any subsequent Account Change Card. Per Federal regulation, preauthorized telephone, Internet or automatic transfers from money market accounts to cover Checking overdrafts cannot exceed six in number per calendar month;
  2. The bill payment processing center is not working properly and you know or have been advised by the Payment Service about the malfunction before you execute the transaction;
  3. The Payee mishandles or delays a payment sent by the Payment Service;
  4. You have not provided the Payment Service with the correct names, phone numbers, or account information for those persons or entities to whom you wish to direct payment;
  5. Circumstances beyond the Payment Service's control (such as, but not limited to, fire, flood, or interference from an outside force) that prevent the proper execution of transaction and the Payment Service has taken reasonable precautions to avoid these circumstances.

Provided none of the foregoing five (5) exceptions to the Payment Service's performance obligations are applicable, if the Payment Service causes an incorrect amount of funds to be removed from your Payment account or causes funds from your Payment Account to be directed to a person or entity which does not comply with your Payment Instructions, the Payment Service shall be responsible for returning the improperly transferred funds to your Payment Account and for directing to the proper recipient any previously misdirected payments or transfers.
 

Payment will be made to your Payee either electronically via the Automated Clearing House (ACH) or by check. The method of payment depends upon the processing method that can be accommodated by the Payee or Allied (e.g., some Payees are unable to accept electronic payments).
 

The payment may be deducted from your Payment Account by two methods depending upon the amount of the payment. The two methods are: 1.) Via an electronic debit through the Automated Clearing House Association (ACH) or 2.) Via a draft drawn on your account and processed through the Federal Reserve System (as if you had written a check drawn upon your Checking Account). All bill payments debited from your account will appear on your monthly Statement of Account and under the "BILL PAY HISTORY" section of the Internet Bill Pay on the Merchants State Bank Internet Banking System. ACH debits will reflect the name of the Payee (e.g., XYZ Utility Company) as well as the date and amount; payments by check will be reflected on your statement with a date, payee and address, and amount. All payments can be viewed with the Payee's name, payment amount and payment date by reviewing your recent payment history under the electronic Payment List option provided to you as part of the Internet Bill Pay Service.

Prohibited Payments
The following payment types are prohibited through the Payment Service:

  1. Tax Payments
  2. Court Ordered Payments
  3. Payments to Payees outside of the United States or its possessions/territories

THE FOREGOING SHALL CONSTITUTE THE PAYMENT SERVICE'S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEMDY. IN NO EVENT SHALL THE PAYMENT SERVICE 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 PAYMENT SERVICE.

In the Event a Payment Service Transaction is Returned and/or Overdraws Your Payment Account
In using the Payment Service, you are requesting the system to make payments for you from your Payment Account. If we are unable to complete the transaction for any reason associated with your Payment Account (for example, there are not sufficient funds in your Payment Account to cover the transaction), the transaction may not be completed. In these cases, you agree that a non-sufficient funds (NSF) fee will be charged in accordance with Merchants State Bank's established and published fees. Further, you also agree that a NSF fee may be charged to your account even if the payment is not returned but is paid and overdraws your Payment Account.
By enrolling for and using this Internet Bill Pay Service you agree that Merchants State Bank has the right to transfer funds from your available balance on your line of credit account as well as from all of your savings accounts to recover funds for all payments that have been requested to be paid by you and your authorized user: this includes accounts on which you are the primary owner, as well as accounts on which you are the joint owner.

EXCLUSIONS OF WARRANTIES
THE PAYMENT 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 MERCHANT ABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

Personal Identification Number/Password and Security
Your Internet Banking Password is required to access Merchants State Bank's Internet Banking functions. You agree not to give or make available your Password to any unauthorized individual. If you believe your Password has been lost or stolen, someone has attempted to use the Internet Banking Service without your consent, your deposit account(s) or loan account(s) have been accessed, or someone has transferred money without your permission, you must notify Merchants State Bank immediately. Merchants State Bank does not maintain a record of your Password. If you lose or forget your Password, contact Merchants State Bank immediately so you may select a new confidential Password.

You agree not to give or make available your Merchants State Bank Account Number and Password to any unauthorized individuals. You are responsible for all bill payments you, and your Internet Bill Pay authorized user, authorize using the Payment Service. If you permit other persons to use the Payment Service or your Merchants State Bank Account Number and Password (even though you have agreed not to disclose this information); you are responsible for all transactions they authorize. If you believe that your Merchants State Bank Account Number and Password has been lost, stolen, or compromised, or that someone may attempt to use the Payment Service without your consent or has transferred money from your account by accessing your account without your permission, you must notify Merchants State Bank at once by calling us during business hours.
You also agree that Merchants State Bank may revoke your Internet Bill Pay and/or Internet Banking account access services if unauthorized account access and/or transactions occur as the apparent result of negligence in the safeguarding of Account Number(s) and Password(s) belonging to you and/or your authorized user. Further, you agree that, if Merchants State Bank is notified that you have included the financial institution in the filing of a petition of bankruptcy, Merchants State Bank may revoke or refuse to grant you Internet Bill Pay Service and/or Merchants State Bank Internet Banking account access to your account.

ACCOUNT TO ACCOUNT TRANSFERS

Key Definitions.  The following definitions apply to Account to Account Transfers.

"Your Account" shall be limited to a checking, money market or savings account that you hold with us.

"External Account" is your account at another financial institution (i) to which you are transferring funds from your Account; or (ii) from which you are transferring funds to your Account.

"Transfer Account" means a checking, money market or savings account that is either Your Account or External Account, as applicable.

"Transfer Instruction" is specific information provided for a payment or transfer to be made that you provide to the Account to Account Transfer Service for a transfer of funds.

Description of the Service.  The Account to Account Transfer Service provides you with the ability to transfer funds between Your Accounts that you maintain with us and your External Accounts that are maintained by other financial institutions.  You must be enrolled in the Internet Banking Service and/or the Mobile Banking Service to receive the Account to Account Transfer Service. 

Cutoff Time.  Transfer Instructions entered before 3:30 PM CST and 3:30 PM CST on a Business Day will begin processing on that Business Day and Transfer Instructions that are entered after these cutoff times will begin processing on the next Business Day. 

Processing of Transfers.  When we receive a Transfer Instruction from you, you authorize us to (i) debit Your Account and remit funds on your behalf to the External Account designated by you and to debit your applicable Transfer Account or, as applicable, to (ii) credit Your Account and remit funds on your behalf from the External Account designated by you and to debit your applicable Transfer Account.  You also authorize us to reverse a transfer from the applicable Transfer Account if the debit is returned from the other Transfer Account in the transaction for any reason, including but not limited to nonsufficient funds.

We will use reasonable efforts to make all your transfers properly.  However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances:

  • If, through no fault of ours, the Account or External Account does not contain sufficient funds to complete the transfer or the transfer would exceed the credit limit of your overdraft account;
  • The Account to Account Transfer Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction;
  • The transfer is refused; see Refused Transfers;
  • You have not provided us with the correct information, including but not limited to the correct Account or External Account information; and/or,
  • Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances.

It is your responsibility to ensure the accuracy of any information that you enter into the Account to Account Transfer Service, and for informing us as soon as possible if you become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a transfer made to the wrong Transfer Account once informed, but we do not guarantee such recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by you.

Transfer Methods and Amounts. There are limits on the amount of money you can send or receive through the Account to Account Transfer Service.

Transfer Cancellation Requests and Refused Transfers.  You may cancel a transfer at any time until it begins processing. We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Transfer Account that we debited for the funds transfer.  If this is unsuccessful (for example, the Account has been closed) we will make reasonable attempts to otherwise return the funds to you.

Stop Payment Requests.  If you desire to stop any transfer that has already been processed, you must contact Merchants State Bank at 866-228-9747.  Although we will make a reasonable effort to accommodate your request, we will have no liability for failing to do so.  We may also require you to present your request in writing within fourteen (14) days.  The charge for each request will be the current charge for such service as set out in the applicable fee schedule.

Service Fees and Additional Charges. You are responsible for paying all fees associated with your use of the Account to Account Transfer Service. You are responsible for any and all telephone access fees and Internet service fees that may be assessed by your telephone and Internet service provider.

Refused Transfers. We reserve the right to refuse any transfer.  We will notify you promptly if we decide to refuse to transfer funds.  This notification is not required if you attempt to make a transfer that is not allowed under this Agreement.

Returned Transfers. In using the Account to Account Transfer Service, you understand transfers may be returned for various reasons such as, but not limited to, the External Account number is not valid.  We will use reasonable efforts to research and correct the transfer to the intended Transfer Account or void the transfer and credit your Transfer Account from which you attempted to transfer funds.  You may receive notification from us.

Your Liability for Unauthorized Transfers (Consumer Liability)
Tell us AT ONCE if you believe your account information and/or Password have been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your accounts (plus your maximum overdraft privilege and open-end credit). If you believe your account information and/or Password has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your account information and/or Password without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your account information and/or Password, and we can prove we could have stopped someone from using your account and/or Password without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers 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.

Errors and Questions
Telephone us as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. Your inquiry must include the following information:

  1. Your name and account number
  2. A description of the error or the transfer you are unsure about and an explanation of why you believe it is an error or why you need more information
  3. The dollar amount of the suspected error
  4. The date of occurrence

If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days. We will generally tell you the results of our investigation within 10 Business Days of the receipt of your complaint or question (20 Business Days if the transaction involved an account opened within the past 30 days). If we need more time, however, we may take up to 45 days. If we decide there was 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. Contact us at:
       

Merchants State Bank
PO Box 399
305 S Main St
Freeman, SD 57029By phone: (605)925-4222 or toll free: (866)228-9747
Business Days: Monday, Tuesday, Wednesday, Thursday and Friday (Holidays are not included)

Disclosure of Account Information to Third Parties
We will disclose information to third parties about your account or transfers you made on the following conditions:

  1. If we return transfers or payments made from your account which are drawn on insufficient funds or if we are unable to complete an electronic transfer or payment because of insufficient funds
  2. When it is necessary to complete the transfers
  3. In order to verify the existence and conditions of your account for a third party, such as a credit bureau or merchant
  4. In order to comply with a government agency or court orders
  5. If you gave us written permission

Alterations and Amendments
The terms of this Agreement, applicable fees, and service charges may be altered or amended by Merchants State Bank from time to time. In such event, Merchants State Bank shall send notice to you either at your address as it appears on Merchants State Bank's records or by online notice through Internet Banking. Any continuation of Internet Banking after Merchants State Bank sends you a notice of change will constitute your agreement to such change(s). Further, Merchants State Bank may, from time to time, revise or update the program, services, and/or related material(s) rendering such prior versions obsolete. Consequently, Merchants State Bank reserves the right to terminate this Agreement as to all such prior versions of the programs, services, and/or related material(s) and limit access to Merchants State Bank's more recent versions and updates.

Address Changes
You agree to promptly notify Merchants State Bank, in writing, of any address change. Changing your address on the Payment Service does not automatically update your address of record at Merchants State Bank. Similarly, updating your address at Merchants State Bank does not automatically update the address on the Payment Service.

Termination and Discontinuation
The use of Internet Banking requires enrollment on your behalf. If you wish to discontinue the Internet Banking service you must contact Merchants State Bank within 10 days prior to the actual discontinuation date. However, any transactions or payments you have previously authorized will be completed as instructed.
Merchants State Bank may terminate Payment Service to any individual at any time with cause, but without advance notice. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.

Periodic Statements
Merchants State Bank will send your periodic statements for each monthly cycle in which an EFT has occurred, and at least quarterly if no EFT has occurred

Payee Limitations
Merchants State Bank reserves the right to impose a frequency or dollar limit on or refuse to make any payment you have directed. Merchants State Bank is obligated to notify you promptly if it decides to refuse to complete your payment instruction.
The Payment Service reserves the right to refuse to pay any person or entity to which you may direct a payment. The Payment Service 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 pay tax or court-related payments or payments outside the United States and its possessions/territories (American Samoa, Guam, Marshall Islands, Micronesia, N. Mariana Islands, Palau, Puerto Rico and the Virgin Islands), which are prohibited under this Agreement.

Information Authorization
Through your enrollment in the Payment Service, you agree that Merchants State Bank (or its third-party bill pay service provider) reserves the right to request a credit agency report and/or a review of your credit rating at its own expense through an authorized credit agency bureau. In addition, you agree that the Payment Service reserves the right to obtain financial information regarding your account from a merchant or financial institution to resolve payment-posting problems.

Disputes
In the event of a dispute regarding Internet Banking or the Payment Service, you and Merchants State Bank or the Payment Service agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and Merchants State Bank or the Payment Service, which supersedes any proposal or prior agreement, oral or written, and any other communications between you and Merchants State Bank or the Payment Service relating to the subject matter of this Agreement. If there is a conflict between what one of Merchants State Bank’s or the Payment Service's employees says and the terms of this Agreement, the terms of this Agreement have final control.

Business Days
Business days are Monday through Friday (excluding Federal Holidays or any holidays recognized by Merchants State Bank.

Financial Institutions Liability
If Merchants State Bank does not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  1. If, through no fault of ours, you do not have enough money in your account to make the transfer
  2. If you have an overdraft line and the transfer would go over the credit limit
  3. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken
  4. There may be other exceptions stated in our agreement with you

Assignment
You may not assign this Agreement to any other party. Merchants State Bank or the Payment Service may assign this Agreement to any present or future, directly or indirectly, affiliated company. Merchants State Bank or the Payment Service may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

No Waiver
Merchants State Bank or the Payment Service shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by Merchant State Bank or the Payment Service. No delay or omission on the part of Merchants State Bank or the Payment Service in exercising any right or remedy shall operate as a waiver of such right or remedy or any other rights or remedies. A waiver on any particular 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 of this Agreement.

Governing Law
This Agreement shall be governed by the laws of the jurisdiction in which Merchants State Bank is located and by applicable Federal laws and regulations.

Federal Disclosure
You agree to accept this disclosure online rather than a paper disclosure. We recommend you print this entire Agreement and Disclosure for your records. If you are unable to print this, please request a paper disclosure be mailed to you.

MOBILE BANKING SERVICE

Mobile Banking is offered as a convenience and supplemental service to our Internet Banking services. It is not intended to replace access to Internet Banking from your personal computer or other methods you use for managing your accounts and services with us.

Online Account Access Functions and Limitations of Transfers

You may use Mobile Banking to (a) access your Merchants State Bank account information; (b) make payments to payees; (c) transfer funds; and (d) conduct other banking transactions. These features are limited to the extent, and subject to the terms, noted below.

 

  1. To utilize this Service, you must be enrolled to use Internet Banking and then you must activate your Device.
  2. Your ability to transfer funds between certain accounts is limited by federal law and the Deposit Agreement. You should refer to the Deposit Agreement for legal restrictions and service charges applicable for excessive withdrawals or transfers. Transfers made using this Service are counted against the permissible number of transfers described in the Deposit Agreement.
  3. There may be at least a one-business-day delay in transferring funds between your accounts. Except as provided in this Agreement, all Mobile Banking transaction instructions received by 3:30 p.m. CDT will be completed that business day. Any instruction received after 3:30 p.m. CDT will be completed the next business day.

We may also reserve the right to modify the scope of the Service at any time.

Mobile Banking may not be accessible or may have limited utility over some network carriers. In addition, the Service may not be supportable for all Devices. Merchants State Bank cannot guarantee and is not responsible for the availability of data services provided by your mobile carrier, such as data outages or "out of range" issues.                                                                                                            

Use of Service

You agree to accept responsibility for learning how to use Mobile Banking in accordance with the online instructions and agree that you will contact us directly if you have any problems with Mobile Banking. We may modify the Service from time to time at our sole discretion. In the event of any modifications, you are responsible for making sure you understand how to use Mobile Banking as modified. You also accept responsibility for making sure that you know how to properly use your Device and we will not be liable to you for any losses caused by your failure to properly use the Service or your Device.

Other Agreements

You agree that, when you use Mobile Banking, you remain subject to the terms and conditions of your existing agreements with any unaffiliated service providers, including, but not limited to, your mobile service provider and that this Agreement does not amend or supersede any of those agreements. You understand that those agreements may provide for fees, limitations and restrictions which might impact your use of Mobile Banking (such as data usage or text messaging charges imposed on you by your mobile service provider for your use of or interaction with Mobile Banking), and you agree to be solely responsible for all such fees, limitations and restrictions. You agree that only your mobile service provider is responsible for its products and services. Accordingly, you agree to resolve any problems with your provider directly without involving us.

Any deposit account, loan or other banking product accessed through this Service is also subject to the Account Agreements and Disclosures provided at the time of Account opening. You should review the Account disclosures carefully, as they may include transaction limitations and fees which might apply to your use of Mobile Banking.

Financial Institutions Liability

If Merchants State Bank does not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages.  However, there are some exceptions.  We will not be liable, for instance:

  1. If, through no fault of ours, you do not have enough money in your account to make the transfer
  2. If Mobile Banking services were not properly working, and you were aware of the malfunction when you initiated the transaction or transfer
  3. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken
  4. There may be other exceptions stated in our agreement with you

Permitted Mobile Banking Transfers

You may use the Service to transfer funds between your eligible Merchants State Bank accounts ("Internal Transfer"). You may not transfer to or from an Account at another financial institution using Mobile Banking.

If you submit your transfer request prior to the deadline established by us for Mobile Banking transfer service, you will initiate an immediate Internal Transfer via Mobile Banking. Transfer transaction requests received after 3:30 p.m. CST on business days and all transactions which are requested on Saturdays, Sundays, or holidays on which the Bank chooses to remain closed, will be processed on the Bank's next business day.

You must have sufficient funds available in the selected account at the time the transfer request is received. We may process transfers that exceed your available balance at our sole discretion. If we process the transfer you agree to cover any overdraft amount plus any applicable fees.

Federal regulations require financial institutions to limit the way withdrawals may be made from a savings or money market account. Each transfer from a savings or money market account using Mobile Banking is counted as one of the six limited transactions permitted each monthly statement cycle period, as described in the Deposit Account Agreement and Disclosures. You may be subject to fees or account conversion if you exceed the transactions limits of your Account using Mobile Banking or any other methods outlined in your Deposit Account Agreement and Disclosures.

We may also limit the type, frequency and amount of transfers for security purposes and may change or impose the limits without notice, at our option.

You agree to confirm the completion of each transfer in your account balance and transaction history before withdrawing transferred funds.

Your Responsibilities

You represent and agree to the following by enrolling for Mobile Banking or by using the Service:

Account Ownership/Accurate Information

You represent that you are the legal owner of the Accounts and other financial information which may be accessed via Mobile Banking. You represent and agree that all information you provide to us in connection with Mobile Banking is accurate, current and complete, and that you have the right to provide such information to us for the purpose of using Mobile Banking. You agree not to misrepresent your identity or your account information. You agree to keep your account information up to date and accurate. You represent that you are an authorized user of the Device you will use to access Mobile Banking.

User Security

You agree to take every precaution to ensure the safety, security and integrity of your account and transactions when using Mobile Banking. You agree not to leave your Device unattended while logged into Mobile Banking and to log off immediately at the completion of each access by you. You agree not to provide your username, password or other access information to any unauthorized person. If you permit other persons to use your Device, login information, or other means to access Mobile Banking, you are responsible for any transactions they authorize and we will not be liable for any damages resulting to you. You agree not to use any personally identifiable information when creating shortcuts to your Account.

We make no representation that any content or use of Mobile Banking is available for use in locations outside of the United States. Accessing Mobile Banking from locations outside of the United States is at your own risk.

Limitation of Liability for Mobile Banking Transactions 

If you believe your mobile Banking login username or password has been compromised or if someone has transferred money from your account without your permission, the best way to minimize your loss is to call the Bank immediately. The unauthorized use of your Mobile Banking Services could cause loss to money in your accounts.

You will have no liability for unauthorized transactions if you notify the Bank within 60 days after the statement showing the transaction has been mailed to you (or 90 days if the transaction was from an account maintained at another financial institution). If you do not, you may not get back any of the money you lost from any unauthorized transaction that occurs after the close of the 60-day period (or 90-day period if the transaction was from an account maintained at another financial institution), if we can show that we could have stopped the transaction if you had notified us in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, we may extend the time periods.

If you provide someone your mobile Banking username and password, you are authorizing that individual to use your service, and you are fully responsible for all transactions that individual performs while using your service. All transactions that an individual performs, even those transactions you did not intend or want performed, are authorized transactions. If you notify us that the individual is no longer authorized, then only the transactions that individual performs after the time you notify the Bank are considered unauthorized.

User Conduct

You agree not to use Mobile Banking or the content or information delivered through Mobile Banking in any way that would: (a) infringe any third-party copyright, patent, trademark, trade secret or other proprietary rights or rights of privacy, including any rights in the Software; (b) be fraudulent or involve the sale of counterfeit or stolen items, including, but not limited to, use of Mobile Banking to impersonate another person or entity; (c) violate any law, statute, ordinance or regulation (including, but not limited to, those governing export control, consumer protection, unfair competition, anti-discrimination or false advertising); (d) be false, misleading or inaccurate; (e) create liability for us or our affiliates or service providers, or cause us to lose (in whole or in part) the services of any of our service providers; (f) be defamatory, trade libelous, unlawfully threatening or unlawfully harassing; (g) potentially be perceived as illegal, offensive or objectionable; (h) interfere with or disrupt computer networks connected to Mobile Banking; (i) interfere with or disrupt the use of Mobile Banking by any other user; or (j) use Mobile Banking in such a manner as to gain unauthorized entry or access to the computer systems of others.

No Commercial Use or Re-Sale

You agree that the Service is only for the personal or business use of individuals authorized to access your account information. You agree not to make any commercial use of Mobile Banking or resell, lease, rent or distribute access to Mobile Banking.

Indemnification

Unless caused by our intentional misconduct or gross negligence, you agree to indemnify, defend and hold harmless Merchants State Bank its affiliates, officers, directors, employees, consultants, agents, service providers, and licensors from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorneys' fees) caused by or arising from (a) a third party claim, dispute, action, or allegation of infringement, misuse, or misappropriation based on information, data, files, or otherwise in connection with the Service; (b) your violation of any law or rights of a third party; or (c) your use, or use by a third party, of Mobile Banking.

 
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