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Online Banking Agreement

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ONLINE BANKING AGREEMENT – PLEASE READ CAREFULLY

This Agreement describes your rights and obligations as a user of Mid America Bank Online Banking and the rights and obligations of Mid America Bank.

DEFINITIONS

Online Banking is the internet-based service providing access to your account(s) under the terms set forth in this agreement.

Online Account means any Mid America Bank account which you will access using Online Banking. Password is the code assigned to you by Mid America Bank for use during the initial sign-on or the code you select after the initial sign-on, that establishes your connection to Online Banking.

ONLINE BANKING HOURS

Online Banking is available 24 hours a day, seven days a week, except during special maintenance periods or any unforeseen circumstance. For purposes of transactions, Mid America Bank’s business days are Monday through Friday, except for holidays as determined by Mid America Bank. Our business day begins at 8:00 a.m. Central Time and ends at 6 p.m. Central Time, Monday through Friday. All Online Banking transactions requested after 6:00 p.m. Central Time on business days, and/or transactions requested on Saturdays, Sundays, or holidays will be processed on the next business day.

USE OF YOUR ACCESS ID AND PASSWORD

Mid America Bank will provide you with an Access ID and Password for use during the initial login, after which you are required to change both for security purposes. You determine what Password you will use and the identity of your Password is not communicated to us. You agree that we are authorized to act on instructions received under your Password. You agree not to allow anyone to gain access to Online Banking or to let anyone know your Password. After three (3) unsuccessful attempts at authorization to use the system, you must contact us during regular banking hours to unlock your account. You agree to assume responsibility for all transactions up to the limits allowed by applicable law.

PASSWORD GUIDELINES

Passwords are the key to each customer having a secure connection to their financial records. Passwords are issued by the financial institution and are issued in an expired state, so the customer will be required to change any password provided by Mid America Bank.

  • The financial institution controls the minimum and maximum length of passwords. The shortest minimum allowed is 6 characters, and the longest maximum is 17 characters.
  • We require passwords to contain at least one (1) alpha character, one (1) numeric character.
  • The new password cannot be similar to the old password or Access ID.
  • We do not have access to your password. Mid America Bank has the ability to issue a new, temporary password in the event of lost or forgotten passwords.

LOST/FORGOTTEN PASSWORDS

If your Password has been lost or forgotten, call your Mid America Bank office during regular banking hours. We will then provide you with a new temporary Password. For security reasons, Passwords will be provided over the telephone only upon answering your security question that only you the customer will know the answer. After providing the correct response to your security question, a temporary password will be given to you or sent by U. S.

postal service. As with the initial password, any password issued by us must be changed by the customer at the next login.

ONLINE BILL PAY

When we receive a payment instruction (for the current or a future date), we will transfer funds to the payee on your behalf from the funds in your Eligible Online Account on the date the payment is to be processed (the "Payment Date").

Funds for ALL bill payments will be withdrawn from your Eligible Online Account on the scheduled Payment Date. We will not be obligated to make a payment unless your Eligible Online Account and/or linked overdraft protection plan has sufficient funds or credit availability to pay the bill on the Payment Date. If your Eligible Online Account is closed by you or by us for any reason, all pending payments associated with that account will be canceled.

There will be a delay between the Payment Date and the date a payee receives that payment. Any payment made through our Online Bill Pay service requires sufficient time for your payee to receive your payment and credit your account properly. To avoid a late payment and any subsequent fees charged by the payee, you must schedule a payment sufficiently in advance of the due date of your payment. YOU MUST SCHEDULE YOUR PAYMENTS AT LEAST FIVE (5) FULL BUSINESS DAYS PRIOR TO THE DATE THE PAYMENT IS DUE TO THE PAYEE. Additionally, you must time your payment using the payment due date and not the last day of any grace period established by the payee. For such scheduling purposes, your first business day is the business day after your scheduled payment date. Payments must be scheduled before 6:00 p.m. on a business day (Central Time) to be effective the same business day.

FUNDS TRANSFER PERMISSION

Mid America Bank’s Online Banking will allow customers to transfer funds between certain types of deposit accounts, and will allow certain types of payments to loans.

Please note that Federal regulations prohibit you from making more that six (6) pre-authorized or automatic transfers or bill payments from your money market account or savings account during a given monthly statement period. Please see your account disclosure for a more detailed description. There are no limits to the number of transfers or payments for your checking account.

STATEMENTS

You will continue to receive you regular account statement either monthly or quarterly, depending on the type of account. You may also view your most recent statement online.

QUESTIONS

If you have any questions or comments regarding Online Banking, please call your Mid America Bank office during regular banking hours or you may write to us at Mid America Bank, 1511 Friendship Road, Jefferson City, MO 65101. Your letter will be answered as soon as it is received.

OTHER AGREEMENTS

Different products, accounts, features and services available at or through our website, and/or different pages or sections of our website, may be subject to separate terms and conditions in addition to the terms of this Agreement. In the event of a conflict, such separate terms and conditions will govern and control with respect to the corresponding product, feature, service, page or section. This Agreement is not intended to affect or amend such separate terms and conditions will govern and control with respect to the corresponding product, feature, service, page or section.

LIMIT OF MID AMERICA BANK’S RESPONSIBILITY

Mid America Bank agrees to make reasonable efforts to ensure full performance of our Online Banking service. We will be responsible for acting only on those instructions sent through Online Banking which are actually received, and cannot assume responsibility for malfunctions in communication facilities not under our control, which may affect the accuracy or timeliness of messages you send. We are not responsible for any losses should you give incorrect instructions, or if your instructions are not given sufficiently in advance to allow for timely payment.

Any information you receive from Mid America Bank is believed to be reliable. However, it can only be provided on a best-efforts basis for your convenience and is not guaranteed. We are not liable for any deficiencies in the accuracy, completeness, availability, or timeliness of such information, or for any investment or other decision made using this information.

Mid America Bank will not be responsible for any computer virus, or related problems, which may be attributable to services provided by an Internet Service Provider.

You are responsible for obtaining, installing, maintaining, and operating all computer hardware and software necessary for performing Online Banking functions. Mid America Bank will not be responsible for any errors or failures from the malfunction or failure of your hardware or software. The limit of our liability shall be as expressly set forth herein. Under no circumstances will Mid America Bank be liable in contract, tort, or otherwise for any special, incidental, or consequential damages, whether or not foreseeable. By consenting to use Online Banking, you agree to waive any and all right to any of the aforesaid, and you acknowledge that the limit of your remedy is as otherwise expressly set forth herein.

MID AMERICA BANK'S RESPONSIBILITY TO OUR CUSTOMERS

Mid America Bank will be responsible for your actual losses if they are directly caused by our failure to:

  • Complete an Electronic Funds Transfer as properly requested
  • Cancel an Electronic Funds Transfer as properly requested

However, we will not be responsible for your losses if:

  • Through no fault of Mid America Bank, you do not have enough funds in your account to make the transfer
  • Circumstances beyond our control (e.g. fire, flood, power outage, equipment or technical breakdown) prevent the transfer, despite reasonable precautions that we have taken
  • There is a hold on your account, or if access to your account is blocked in accordance with policy
  • Your funds are subject to legal process or other encumbrance restricting the transfer
  • Your transfer authorization terminates by operation of law
  • You believe someone has accessed your accounts without your permission and you fail to notify us immediately
  • You have not properly followed the scheduling instructions on how to make a transfer included in this Agreement
  • We have received incomplete or inaccurate information from you regarding the account or transfer
  • We have reasonable basis for believing that unauthorized use of your Password or account has occurred or may be occurring, or if you default under this Agreement, the Deposit Account Agreement, a credit agreement, or any other agreement with us, or if we or you terminate this Agreement.

There may be other exceptions stated in this Agreement and in other agreements with you. In no event shall we be liable for damages in excess of your actual loss due to our failure to complete a transfer, and we will not be liable for any incidental or consequential damages. If any of the circumstances listed above shall occur, we shall assist you with reasonable efforts in taking appropriate corrective action to reprocess the transactions that may not have been completed or to correct incorrect transactions that have been processed.

CONSUMER LIABILITY

Tell us AT ONCE if you believe your password has been lost or stolen. Telephoning is the best way of keeping your losses down. You could lose all the money in your account plus your maximum limit from an overdraft line of credit or your overdraft privilege. If you believe your 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 password without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your password, and we can prove we could have stopped someone from using your 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 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.

Contact us in the event of unauthorized transfer. If you believe your password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, contact us immediately.

ERROR RESOLUTION NOTICE

Telephone us at your Mid America Bank branch during regular banking hours or write to us at Mid America Bank, 1511 Friendship Road, Jefferson City, Missouri, 65101 as soon as you can, if you think your statement is wrong, or if your need more information about a transfer listed on the statement. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem or error appeared.

  1. Tell us your name and account number.
  2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
  3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (20 business days if the transfer 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 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 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

We will tell you the results within 3 business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Please examine your statement promptly and immediately advise us of any errors. If no error is reported within sixty (60) days, the statement will be considered correct.

MODIFICATIONS TO THIS AGREEMENT

Mid America Bank may modify the terms and conditions applicable to Online Banking from time to time, upon mailing or delivering a notice of the modifications to you at the address shown on your account records, and the revised terms and conditions shall be effective at the earliest date allowed by applicable law.

We reserve the right to terminate this Agreement and your use of Online Banking in whole or in part at any time without prior notice.

UNAUTHORIZED TRANSACTIONS OR LOSS OR THEFT OF YOUR ONLINE BANKING IDENTIFICATION NUMBER/PASSWORD

If you believe your Online Banking Identification Number or Password or other means of access have been lost or stolen or that someone has used them without your authorization, CALL US IMMEDIATELY at your Mid America Bank branch during regular banking hours. Telephoning us immediately is the best way of reducing your possible losses. You may write us at Mid America Bank, 1511 Friendship Road, Jefferson City, MO 65101.

INDEMNIFICATION

Except to the extent that we are liable under the terms of this Agreement or an agreement that otherwise governs your Eligible Online Account, if you are an owner of an Eligible Account you agree to indemnify and hold us, our directors, officers, employees and agents harmless from all loss, liability, claims, demands, judgments and expenses arising out of or in any way connected with an Eligible Online Account or the performances of our Online Banking.

INACTIVITY – TERMINATION

You are responsible for complying with all the terms of this Agreement and with the terms of the agreement governing the deposit accounts which you access using electronic banking services. We can terminate your Online Banking privileges under this Agreement without prior notice to you for any reason; or if you do not:

  • pay any fee required by this Agreement when due:
  • comply with the Agreement governing your deposit or loan accounts, or
  • your accounts are not maintained in good standing.

We will promptly notify you if we terminate this Agreement or your use of the services for any other reason.

We may convert your access to Online Banking to inactive status if you do not sign on to the service or have any transaction scheduled through the service during any consecutive (60) sixty day period. If your service is considered inactive, you must contact us to have the service activated before you will be able to gain further access.

To cancel Online Banking you must notify us and provide your name and effective date to stop the service. You may notify us by calling your branch office during regular business hours or by writing a letter and sending it to:

Mid America Bank

Attention: Online Banking

1511 Friendship Road

Jefferson City, MO 65101

GOVERNING LAW

This Agreement is governed by the laws of the State of Missouri and applicable federal laws.