Description of Services
Processing Payments
You can make one-time and from time-to-time payments from your linked checking or money market deposit account to companies or individuals (Payees) you select using Bill Payment Service. The Bank will provide you with a positive confirmation that the payment has been scheduled and/or transmitted. In addition, you may verify that any payment has been processed by signing into your Online Banking Service the business day following the payment and looking at the Bill Payment History selection. This does not, however, provide assurance that the Payee has properly credited your account.
We process payments you make through Bill Payment Service by electronic transmission or bank check. Payments made electronically are generally received and credited by your Payee within four business days. Other payments are made with a bank check we send to the Payee you have designated. Payments made with a bank check are generally received by your Payee within six business days.
We strongly suggest that you schedule your electronic payments at least 3-5 business days before the due date, and check payments 7-10 business days before they are due. We are not responsible for postal delays or processing delays by the Payee. Electronic payments are deducted in the amount of your payment from your account within two business days of the processing date. Check payments are deducted from your account when the payee has received and deposited the item.
Processing Expedited Payments
You may select to process payments you make through Bill Payment as an Expedited Payment. We will process expedited payments by bank check only. Expedited payments are generally sent to your Payee, next business day and are generally received by your Payee within two business days.
We strongly suggest that you schedule your expedited payments at least 2 business days before the due date. We are not responsible for postal delays or processing delays by the Payee. In all cases of expedited payments, we deduct the amount of your payment from your account when the payee has received and deposited the item. All expedited payments must be received by 2:00 p.m. EST in order to be processed the next business day.
The type of Expedited Payment that is available is displayed on the Expedited Payment screen. Please note that all Expedited Payments are made via bank check only.
The fee for Expedited Payments is $20.00 and will be deducted from the account monthly when an Expedited Payment is processed.
Limitations and Dollar Amounts for Bill Payments
Bill payments can be any amount between $.01 and $2,500.00. When you schedule a payment you authorize the Bank to withdraw the necessary funds from your designated bank deposit accounts. You agree that you will instruct the Bank to make a withdrawal only when a sufficient balance is available in your accounts at the time of withdrawal. If you do not have a sufficient balance we may either complete the payment – creating an overdraft – or refuse to complete the payment. In either case, we reserve the right to impose an insufficient funds (NSF) fee. If the transaction cannot complete after a second attempt of processing because of non-sufficient funds on your account, then your Online Banking Account will be blocked from making any future bill payments.
Canceling Payments
In order to cancel future dated payments, you must sign into Online Banking and follow the prompts provided. You may cancel a payment transaction up to the date you scheduled it for processing. We must receive your instructions to cancel before 2:00 p.m. EST time on the date the transaction was scheduled to be processed.
Electronic payments, input same day must be cancelled by 4:30 p.m. EST time on the same day it is scheduled to process.
Our Liability for Failure to Cancel or Stop the Payment
If you cancel a payment in accordance with the above instructions and we fail to process your cancellation, we will be liable for your losses.
Confirmation of Payments
You will receive payment confirmation that we have sent the payment upon proper completion of your Bill Payment Request entered through Online Banking.
Privacy
The Bank recognizes that our customers and others visiting our Online Sites have an expectation of privacy when they’re conducting business with us. For these reasons, the Bank takes security and privacy of customer information very seriously.
Please see the Bank’s Privacy Policies, which can be found on our website for more specific terms and conditions.
Other Terms and Conditions
Monthly Service Charge
Monthly fees for Online Banking are contained in the Miscellaneous Fee Schedule Disclosure that is provided to you upon enrollment. Online Banking Service and Bill Payment Service do not have any monthly service charges.
Business Days
Business days are Monday through Friday except for Federal holidays. Federal holidays in the United States are generally those eleven holidays observed by the Federal Reserve Bank. Transactions initiated on Saturday, Sunday or any Federal holiday will be processed by the Bank on the next business day. To have a payment processed on the same business day, we must receive your instructions before 5:00 p.m. EST. If you request a payment for a future date, we process the transaction at the close of business on that date only if it’s a business day. If the date you request is not a business day, or if we receive your instructions after the end of our business day, we process the transaction on our next business day.
Service Hours
Online Banking Services are available 24 hours a day, 365 days a year, and may not be available when the system is shut down for maintenance and upgrades.
Canceling Your Internet Banking Bill Payment Service
Your Online Banking service remains in effect until it is terminated by you or the Bank. You may cancel your service at any time by notifying us of your intent to cancel in writing, through Online Banking e-mail, or by calling the bank at (352) 383-2111. This cancellation applies to your Online Banking Service and does not terminate your bank account.
If you choose to cancel your Online Banking Bill Payment Service any unprocessed payments and transfers will be canceled. You should cancel any scheduled payments or transfers prior to notifying us that you are discontinuing the service. The Bank will cancel any scheduled payments within two business days after the business day we receive your request to discontinue the service.
If you close your designated checking account, or if it’s no longer linked to your Online Banking Service, your Online Banking Bill Payment Service will end, and any unprocessed payments will be canceled.
Changes to Agreement and the Consumer Internet Banking Bill Payment Service
We may change this Agreement at any time. For example, we may add, delete or amend terms or services. We will notify you of such changes by mail or by electronic message. If you maintain your Online Banking Bill Payment Service after the effective date of a change, you indicate your agreement with the change. All other terms and conditions in your signature card contract, Rules and Regulations and other agreements applicable to your account will remain in effect until otherwise notified by the Bank.
Reporting Unauthorized Transactions
Call us at (352) 383-2111, Monday-Friday 8:00 a.m. to 5:00 p.m. EST
You may also write us at:
The First National Bank of Mount Dora P O Box 95
Mount Dora, FL 32756-0095
Attn: Operations/Bill Payment Support
Initiating Payment Inquiries
To initiate a payment inquiry, you may use Online Banking Bill Payment Service to send the request via e-mail. You should allow at least 4 business days for electronic payments and 10 business days for payment by check for the payment to be received and processed by your Payee before you may make a payment inquiry.
In Case of Errors or Questions about Your Electronic Transactions
Call, send us an e-mail, or write us AT ONCE if you think your Online Banking login credentials have been discovered by an unauthorized person or if someone has transferred or may transfer money from your account without your permission.
We must hear from you no later than 60 days after we have sent the first bank statement on which the problem or error appeared.
If you tell us verbally, we may require you to send us your complaint or question in writing or via e-mail within 10 business days. When you contact us, please provide the following information: your name and account number, your Bank Deposit Account number, date and dollar amount of transaction in question, name of Payee if transaction in question is a payment, transaction number assigned by Online Banking Service if available, and description of the transaction. Please explain as clearly as you can why you believe there is an error or why you need more information. We will tell you the results of our investigation and we will promptly correct any error we have made.
Limitation of Bank's Liability
Call us AT ONCE at (352) 383-2111 if you believe your Online Banking login credentials have been compromised or if someone has transferred or may transfer money from your account without your permission. The best way to minimize your loss is to call us IMMEDIATELY. The unauthorized use of your Online Banking account could cause you to lose all of your money in your accounts, plus any amount available under your pre-approved overdraft protection account.
Also, if your statement shows transactions you didn’t perform, tell us IMMEDIATELY.
If you give someone your Online Banking login credentials, you are authorizing that person to use your service, and you are responsible for all transactions the person performs using your service. All transactions that person performs even those transactions you did not intend or want performed are authorized transactions. Transactions that you or someone acting with you initiates with fraudulent intent are also authorized transactions. For your protection, sign off after every Online Banking session and close your browser to ensure confidentiality.
If you give someone your Online Banking login credentials, you are authorizing that person to use your service, and you are responsible for all transactions the person performs using your service. All transactions that person performs even those transactions you did not intend or want performed are authorized transactions. Transactions that you or someone acting with you initiates with fraudulent intent are also authorized transactions. For your protection, sign off after every Online Banking session and close your browser to ensure confidentiality.
If we fail or delay in making payment pursuant to your instructions, or if we make a payment in an erroneous amount which is less than the amount per your instructions, unless otherwise required by law, our liability shall be limited to interest on the amount which we failed to timely pay, calculated from the date on which the payment was to be made until the date it was actually made or you canceled the instructions. We may pay such interest either to you or the intended recipient of the payment, but in no event will we be liable to both parties, and our payment to either party will fully discharge any obligation to the other. If we make a payment in an erroneous amount which exceeds the amount per your instructions, or if we permit an unauthorized payment after we have had a reasonable time to act on a notice from you of possible unauthorized use as described above, unless otherwise required by law our liability will be limited to a refund of the amount erroneously paid, plus interest thereon from the date of the payment to the date of the refund, but in no event to exceed 60 days’ interest.
If we become liable to you for interest compensation under this Agreement or applicable law, such interest shall be calculated based on the average federal funds rate at the Federal Reserve Bank in the district where the Bank is headquartered for each day interest is due, computed on the basis of a 360-day year. UNLESS OTHERWISE REQUIRED BY LAW, IN NO EVENT WILL THE BANK BE LIABLE TO YOU FOR SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR ATTORNEYS’ FEES, EVEN IF WE ARE ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES.
Our Liability for Failure to Complete Transactions
If we do not complete a Online Banking Bill Payment transaction from your account on time, or in the correct amount according to our Agreement with you, we could be liable for your losses. However, there are some exceptions. We will not be liable, for instance:
• If, through no fault of ours, you do not have enough available funds in your account (or available credit under your overdraft protection plan) to cover
the transaction.
• If Online Banking Services wasn’t working properly, and you knew about the malfunction when you started the transaction or transfer.
• If circumstances beyond our control (such as fire or flood) prevent the transaction or transfer, despite reasonable precautions we’ve taken.
• If there are postal delays or processing delays by the Payee.
• There may be other exceptions not specifically mentioned here.
the transaction.
• If Online Banking Services wasn’t working properly, and you knew about the malfunction when you started the transaction or transfer.
• If circumstances beyond our control (such as fire or flood) prevent the transaction or transfer, despite reasonable precautions we’ve taken.
• If there are postal delays or processing delays by the Payee.
• There may be other exceptions not specifically mentioned here.
Protecting your Login Credentials
You agree that we may send notices and other communications including Login Credentials confirmations, to the current address or email address shown in our records, whether or not that address includes a designation for delivery to the attention of any particular individual. You further agree that the Bank will not be responsible or liable to you in any way if information is intercepted by an unauthorized person, either in transit or at your place of business. You agree to: 1) keep your Login Credentials secure and strictly confidential, providing it only to authorized signers on your account(s); 2) instruct each person to whom you give your Login Credentials that he or she is not to disclose it to any unauthorized person; and 3) immediately notify us and select a new password if you believe your password may have become known to an unauthorized person.
THE BANK WILL HAVE NO LIABILITY TO YOU FOR ANY UNAUTHORIZED PAYMENT OR TRANSFER MADE USING YOUR LOGIN CREDENTIALS THAT OCCURS BEFORE YOU HAVE NOTIFIED US OF POSSIBLE UNAUTHORIZED USE AND WE HAVE HAD A REASONABLE OPPORTUNITY TO ACT ON THAT NOTICE. We may suspend or cancel your Login Credentials even without receiving such notice from you, if we suspect your Login Credentials are being used in an unauthorized or fraudulent manner.
Acknowledgement of Commercially Reasonable Security Procedures
By using the Online Banking Service you acknowledge and agree that this Agreement sets forth security procedures for electronic banking transactions, which are commercially reasonable. You agree to be bound by instructions, whether authorized or unauthorized, which we implement in compliance with these procedures, unless you have given us prior notice of possible unauthorized use as described above (and we had a reasonable opportunity to act on such notice).