Terms and Conditions for Online Banking
Internet Cash Manager Customers please refer to your executed Internet Commercial Cash Manager Agreement for terms and conditions.
Business Online Banking Agreement
This Agreement describes your rights and obligations as a user of the Online Banking Service. It also describes the rights and obligations of Westfield Bank. Please read this Agreement carefully. As an authorized account holder, you must abide by the terms and conditions of this Agreement, and those provided to you at account opening.
As used herein, "Bank" refers to Westfield Bank and "Customer" means a person receiving authorization to use the personal computer (PC) and Password as an accepted access device which permits the use of the same to initiate funds transfer transactions through a PC.
The Bank will provide instructions on how to use the Online Banking Service. Customer will gain access to their online accounts through the use of your User ID and Password, and an initial Access Code. You may access your Online Banking 24 hours a day 7 days a week. However, availability of the services may be interrupted for brief periods of time for purposes of maintenance, updating and revising the software.
The Customer understands that all account holders have their own User Identification Numbers and Passwords that enable them to use this service. The Customer is responsible for the confidentiality and use of their Password. Use of this service signifies agreement to the terms and conditions set forth by Westfield Bank in the Electronic Funds Transfers Statement with the understanding that they may be amended from time to time.
In order to process this application, it must be submitted by an authorized signer on the business account(s).
Funds Transfer Agreement
By use of PC and Password, Customer(s) agree to abide by the following rules and regulations:
1. The Bank has the right to revoke this agreement at any time or without cause or with or without notice. The closeout of an account, identified below, immediately terminates the funds transfer service associated with that account.
2. The Bank is hereby authorized to debit or credit the following accounts, as indicated below, which now stand in the name of Customer and which shall be maintained with sufficient available balances to cover all withdrawals according to transactions selected by Customer through the use of PC. Overdrafts will be permitted, only with an existing agreement with the Bank to cover overdrafts with a Line of Credit Agreement.
3. Bank herewith has provided to Customer all required documentation disclosing rules and regulations as outlined by the Laws of the Commonwealth of Massachusetts or Federal Law when applicable.
4. Customer may choose to limit access by electronic means to one or more of their accounts. The amount and type of transactions which Customer shall be authorized to perform by use of the PC in any period shall be determined by the Bank from time to time at its discretion.
5. Customer shall establish their Password the first time they perform a transaction via PC. Customer shall at all times, (a) safely keep the Password and not permit any other person to use it, (b) not disclose the Password or otherwise make it available to any persons, (c) use the Password as instructed and for purposes authorized by the Bank and not permit any unauthorized use thereof not withstanding any other provisions of these rules and regulations or others disclosed to Customer. If at any time Customer believes their Password has been compromised, Customer shall change it as soon as possible. If Customer forgets his/her Password, Customer shall notify the Bank immediately and request the Password be re-established.
6. Customer is responsible for all transfers it authorizes. The Bank is responsible for completing fund transfers according to your entered and transmitted instructions. However, the Bank will not be liable if you do not have available funds in your account to complete the transfer.
These rules and regulations supplement all other agreements between Customer and Bank, and rules and regulations with respect thereto, which may govern the Customer's Statement Account, Savings Account, and any other accounts with the Bank.
Upon default by Customer in the performance of the obligations contained in this agreement or any other obligations to the Bank or in the event of death, assignment for the benefit of creditors or the commencement by or against Customer of bankruptcy proceedings, the Bank may immediately terminate this Agreement and all sums withdrawn by Customer hereunder shall be deducted from the accounts or if said accounts are insufficient, then from any accounts, deposits or property of Customer in the hands of the Bank.
Customer may terminate this Agreement by submitting a request in writing to the Bank.
Accounts that have not been accessed for a six-month period will be considered inactive and the Customer will have to reapply to continue use.
THE AUTHORIZED SIGNEES ACKNOWLEDGE RECEIPT OF AN EXACT COPY OF THIS AGREEMENT.