Business Online Banking Agreement and Disclosure

State Bank of Herscher
Business Online Banking Agreement

1. Coverage of this Agreement. This Agreement applies to your use of our "Business Online Banking" service, which permits you to access certain accounts you have with us via the Internet for services selected by you and agreed upon by us. In this Agreement, the terms "you", "Customer," "Client" and "your" refers to the depositor on a commercial account accessible by "Business Online Banking", and the terms "us," "we," "Bank," and "our" refer to the State Bank of Herscher.

2. Setup/Application Forms. To establish "Business Online Banking", you must complete the "Business Online Banking Setup Form" authorizing your enrollment in this service and identifying the Accounts that will be accessible. The specific services available to you are identified in your Business Online Banking Setup Form. Your signature on the Setup Form constitutes your agreement to the terms of the Agreement.

3. Your Responsibility. You are responsible for selecting all systems, hardware, and your Internet Service provider and for any defect, malfunction or interruption in service or security due to hardware failure, your choice of Internet Service provider and systems, and computer services.

Use of Business Online Banking is at your risk. You are responsible for the installation, maintenance, and operation of your computer and browser software, anti-virus software, and your computer's firewall. The risk of error, failure, or nonperformance is your risk and includes the risk that you do not operate the computer software properly. Computer viruses may destroy your programs, files, and your hardware. Additionally you may unintentionally transmit the virus to other computers. We encourage you to purchase and employ a firewall on your computer that will protect your computer from intrusion while you are connected to the Internet. You are solely responsible for the proper installation, configuration, and maintenance of any intrusion detection system you may employ.

4. Limitation on Liability. "Business Online Banking" IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. USE OF THE SERVICE IS AT YOUR SOLE RISK. WE DO NOT WARRANT THAT "Business Online Banking" WILL BE UNINTERRUPTED OR ERROR FREE, NOR DO WE MAKE ANY WARRANTY AS TO ANY RESULTS THAT MAY BE OBTAINED BY USE OF "Business Online Banking". WE MAKE NO OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

We are not responsible for any errors or failures from any malfunction of your computer or the software. We are not responsible for any electronic virus or viruses that you may encounter. We are not responsible for any computer virus or related problems that may be associated with the use of the Business Online Banking service. We have no liability to you for any damage or any other loss directly or consequential, which you may suffer or incur by reason of your use of the computer or any viruses.

5. Protecting Your Passwords. You are responsible for maintaining the confidentiality of the Passwords. You understand and agree that you are responsible for all transactions incurred using your Passwords. You agree to disclose Passwords only to those individuals authorized to use "Business Online Banking" or a particular level of service in "Business Online Banking". Anyone to whom you disclose your Passwords and anyone who has access to your Passwords will have full access to the services you can perform on "Business Online Banking", including full access to your Accounts. The person's authority will be limited only to the extent that the Password was established with limitations on the services that could be performed using that Password. We are entitled to presume that all communications containing proper Passwords are authorized by you and to act upon those communications, and you will be bound by any transaction performed by any person using that Password.

You assume full responsibility and liability for the consequences of any misuse or unauthorized use of your access to "Business Online Banking" or disclosure of any confidential information or instructions of yours by your employees, agents, or other third parties that gain access to your Passwords. It is solely your responsibility to change your password anytime an employee no longer works for you. Failure to change password and disable access of former employees by you could result in financial loss to you. You agree to hold the bank harmless for any loss due to your failure to disable or change passwords of former employees or employees whose status has changed from authorized to unauthorized. The use of the Password as a security measure supercedes any other security procedures in agreements you have with us relating to funds transfers. By using "Business Online Banking", you acknowledge and agree that this agreement sets forth security procedures for electronic banking transactions that are commercially reasonable.

6. Contact in Event of Unauthorized Access. State Bank of Herscher will not contact you to ask for your user ID and Password. If you are approached by anyone to provide your user ID and Password, DO NOT PROVIDE THIS INFORMATION. Contact the Bank immediately, as you could be the victim of attempted fraud or identity theft.

Tell us at once if you believe any of your Passwords have been compromised, lost or stolen or have otherwise become available to an unauthorized person. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your Accounts (plus your maximum line of credit). If you believe your Password has been compromised, lost or stolen or that someone has transferred or may transfer money from your account without your permission, use one of the following methods to contact us:

  • Call (815) 426-2156, during normal business hours
  • Email: info@sbherscher.com, Note that email is not secure, so do not provide account information. All we need is your company name, contact person, daytime phone number, and a brief message as to what the problem may be.

If you believe an unauthorized transaction or error occurred and the transaction was not processed through the automated clearinghouse (ACH), we must receive notice of and, at our request, an affidavit regarding the problem in a form satisfactory to us within a reasonable time (not to exceed 14 calendar days) from the date of discovery or your receipt of the first statement, report, or notice reflecting the problem, whichever occurs first. If it involves an ACH transaction, we must receive notice, written or verbal, within 24 hours of the posting date, with a written affidavit in a form satisfactory to us within a reasonable time thereafter, not to exceed 10 calendar days.

7. Business Days. Our business days are Monday through Friday, excluding Holidays. We can process a fund transfer on the same business day as your instructions, if we receive your instructions before our "Business Online Banking" cut-off hour of 3:00 p.m. Central Time on a business day. If we receive your instruction after the cut-off hour of our business day, we will process the transaction on the next business day. If the date you request for a future transfer or payment is not a business day, we process the transaction on the business day immediately preceding the date you have requested. If you schedule a recurring funds transfer and the payment date does not exist in a month, the payment will be processed on the last business day of that month.

8. Functions. Using your Password and the "Business Online Banking" you can perform all of the functions described in the Setup Forms, in connection with the Accounts described in the Setup Forms, and you can:

  • View account information
  • Transfer funds among your deposit accounts with us
  • Make transfers out of deposit accounts to your loan accounts with us
  • Additional functions may be made available from time-to time, subject to the terms and conditions of this Agreement.

9. Funds Transfer Requirements.

  • You may initiate Funds Transfers between accounts held at the Bank. The transfers will be processed on the effective day of the transfer, providing (i) that the transfer reaches the Bank by the 3:00 p.m. Central Time cutoff time for such transfers, and (ii) unless otherwise agreed by the Bank in advance, that the account has sufficient collected funds to pay the requested transfer.

10. Overdrafts. When you schedule a funds transfer using the "Business Online Banking", you authorize us to withdraw the necessary funds from your designated Account with us. We deduct the amount of your transfer from your designated Account on the date we process your instruction. Each instruction to us to withdraw or transfer from an Account is an order to us to pay from that Account at that time or on a later date, if any, indicated in the instruction. We may charge payments against the Account even though the charge creates an overdraft, or we may refuse to make payments if the charge creates an overdraft. If you overdraw your Account, you agree to immediately pay us the overdrawn amount, together with any applicable fees. If the Account is maintained in connection with an overdraft credit plan, any overdraft will be made in accordance with the agreement or rules governing that Account rather than this Agreement. As security for any amounts due the Bank hereunder, you hereby grant to the Bank a security interest in, and lien, upon, the Accounts and all other accounts you maintain at the Bank. Your failure to satisfy any payment obligation hereunder shall constitute a default. Upon the occurrence of default, and at any time thereafter, the Bank may use and apply any and all funds in the Accounts and exercise any and all other rights and remedies available to a secured party by law, in equity, or under this Agreement.

11. Limitations on Transfers. Each funds transfer through "Business Online Banking" from your savings or money market deposit account is subject to the same transfer limitations indicated in the Deposit Account Rules Disclosure you received at account opening for your savings or money market deposit account.

12. Fees. We will charge you "Business Online Banking" fees, if any, identified in our current fee schedule, account information brochures, and disclosures available from us, and as they may be amended by us from time to time, and otherwise in accordance with our Deposit Account Rules.

13. Periodic Statements. Your "Business Online Banking" account activity will appear on your periodic account statement. If there are no transfers in a particular month, you will receive statements at least quarterly.

14. Our Obligation to Make Transfers. We are not obligated to make any transfer:

  • If, through no fault of ours, your Account does not contain sufficient collected funds to make the transfer.
  • If the money in your Account is subject to legal process or other encumbrances restricting the transfer.
  • If the transfer would go over the credit limit on your overdraft credit plan, if any.
  • If a transfer system was not working properly and you knew about the breakdown when you started the transfer.
  • If circumstances beyond our control (including but not limited to fire, flood, act of terrorism, or power failure) prevent the transfer or use of "Business Online Banking" despite reasonable precautions that we have taken.
  • If incomplete or inaccurate information is forwarded to us by you or through an automated clearinghouse.
  • If you have not properly followed the instructions for using the "Business Online Banking"
  • If your operating system is not properly installed or functioning properly.
  • For errors or failures from any malfunctions of your browser, "Business Online Banking" provider, computer, computer virus or other problems relating to the computer equipment you use with the "Business Online Banking", including, without limitation, your inability to access "Business Online Banking" or any part of "Business Online Banking".
  • For a failure to provide access or for interruptions in access to the "Business Online Banking" due to "Business Online Banking" system failure.

NOTWITHSTANDING ANY OTHER PROVISION IN THIS AGREEMENT, UNLESS OTHERWISE PROHIBITED BY LAW, OUR SOLE RESPONSIBILITY FOR AN ERROR BY US OR OUR THIRD PARTY PROVIDER IN TRANSFERRING FUNDS, PAYING A BILL, OR OTHERWISE ARISING FROM OR RELATING TO THIS AGREEMENT WILL BE TO CORRECT ANY ERRORS (AND PAY ANY PENALTIES AND ASSOCIATED LATE CHARGES TO THE PAYEE, NOT TO EXCEED $25.00 PER OCCURENCE), BUT IN NO CASE WILL WE BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTAL DAMAGES IN CONNECTION WITH OR IN ANY WAY RELATED TO "Business Online Banking" OR OUR PERFOMANCE HEREUNDER.

In no event will our liability for any direct damages arising from or relating to this agreement, the service, or the internet exceed the total fees incurred, not to exceed $25.00 per occurrence by you during the three (3) months immediately preceding accrual of such cause of action. If you are dissatisfied with "Business Online Banking", your sole exclusive remedy shall be for you to discontinue use of "Business Online Banking" and /or terminate this agreement in accordance with Section 16.

You agree to indemnify and hold us harmless from any and all claims, demands, actions, suits, damages, judgments, liabilities, costs and expenses and attorney's fees arising out of or resulting from your use of "Business Online Banking" or your breach of any of your obligations under this agreement. Your obligation to indemnify us shall survive the termination of this agreement.

12. Termination. We may modify, suspend or terminate your privilege of using "Business Online Banking" and may withhold approval of any transaction, at any time, without prior notice to you. In the event we terminate "Business Online Banking", we will try to notify you in advance but are not required to do so. You will be notified as soon as practicable. If you wish to terminate your participation in "Business Online Banking", you must notify us at least 10 business days prior to the date you wish to terminate. Unless otherwise agreed, we will terminate the service on the 10th business day following our receipt of your notice. Termination shall not affect the rights and obligations of the parties for transactions made with the "Business Online Banking" before we have had a reasonable time to respond to your termination request.

You must cancel all future funds transfers, whether recurring or individual payments, when you terminate "Business Online Banking" or we may continue to process such payments.

13. Third Parties. You understand that third parties other than us provide support and services relating to "Business Online Banking", and you authorize us to contract with third parties to provide such support and service. You release us from any liability for failures, act or omissions of any third party system operator including, but not limited to, unauthorized access to theft or destruction of your information or instructions.

14. Amendment. We may amend this Agreement at any time. Notice will be sent to you at your current address in our files. Amendments will be effective upon the date indicated in the notice.

15. General. This agreement is intended to supplement and not to replace other agreements between you and us relating to your Accounts, including, without limitation, our Deposit Account Rules, ACH Agreements and Wire Transfer Agreements. In the event of a conflict between this Agreement and any other Account rules and agreements that apply to your Accounts or the functions performed using "Business Online Banking", this Agreement shall govern and prevail.

16. Binding Effect and Assignment. You may not assign this Agreement without the express written consent of the Bank. This Agreement shall be binding on the parties hereto, and their respective heirs, assigns, and successors in interest.

17. Governing Law. This agreement will be governed by, construed and enforced according to the laws of the State of Illinois.

Download and Complete the Agreement Form
 Business Online Banking Agreement Form 

State Bank of Herscher
Internet Banking
PO BOX 68
Herscher, Illinois 60941

OnLine Banking Questions

Contact State Bank of Herscher with any Online Banking questions. 815-426-2156

Equal Housing Lender Member FDIC

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