EBSB BUSINESS ONLINE BANKING USER AGREEMENT

Transcription

1 EBSB BUSINESS ONLINE BANKING USER AGREEMENT This Business Online User Agreement together with the EBSB Business Online Enrollment Form,, ACH Agreement, Wire Transfer Agreement and Business Service Fees, hereinafter collectively referred to as the "Agreement, constitute the entire agreement between, organized and legally existing under the laws of the Commonwealth of Massachusetts, with its principal office located at (hereafter referred to as Company ) and East Boston Savings Bank ( Bank ), a Massachusetts savings bank, with respect to Business Online Services ("EBSB BUSINESS ONLINE") provided by Bank to Company and there are no understandings or agreements relative hereto which are not fully expressed herein. By using EBSB BUSINESS ONLINE, you accept all of the Agreement. Please read all parts of the Agreement carefully. Please review this Agreement regularly as we reserve the right to amend the terms of this Agreement and change the fees associated with the use of EBSB BUSINESS ONLINE at any time. If no notice is required by applicable law, we reserve the option, in our business judgment, to provide or not provide notice of such changes. If we do provide notice of changes we may do so by posting the changes or new terms or fees, online, or, mailing, or e- mailing, notice to you separately or in an account statement mailed to your address as it appears in our records or providing such notice in any other manner we may choose. You agree that such notice is sufficient and you also agree that by using the system after the Agreement or fees have been amended, you accept the changes and/or new terms and/or fees. Hours of Operation You may contact the Bank during normal operating hours with any questions at ; Monday Wednesday 8:00AM 5:00PM EST; Thursday Friday 8:00AM 6:00PM EST: and Saturday 9:00AM 1:00PM EST. 1. Services The following services are available: Account Balance and Information and Text Alerts Loan Reporting Account Information Reporting E-Statements Mobile Banking / Deposit Bill Pay / e-bill Express Transfer Online Help Books Transfers Extended History QuickBooks Check Image Viewing Loan Advance Stop Payments Deposit Escrow Accounting Loan Payment / Principle Only Transaction Sorting and Filtering The following additional services are available if selected by the Company and approved by the Bank: Account Reconciliation ACH Tax Payment Wire Transfer - Domestic/International ACH Collection ACH Upload ACH Payment Positive Pay 1 Revised Oct VIII

2 Please note: Some services require Bank approval prior to accessing the service and may incur a monthly fee. Depending upon the type of account involved not all of the above features and services may be available. Other services may be available from time to time in the future. By using these services, or other services as they become available, you agree to be bound by the terms and conditions contained in the Agreement and any amendments hereto. Closed Accounts: Once an account is closed it will remain on the system for a period 60 calendar days. After 60 calendar days you will no longer has access to it. Please be sure to save any account activity you need for any future reporting prior to the expiration of this timeframe. 2. Definitions - As used in this Agreement, the words we", "our", "us" and "Bank" and EBSB mean East Boston Savings Bank. "Company", "you" and "your" refer to the account holder authorized by Bank to use EBSB BUSINESS ONLINE under this Agreement and anyone else authorized by that account holder to exercise control over the account holder's funds through EBSB BUSINESS ON LINE. " Account" or "Accounts" means your accounts at the Bank. "Electronic funds transfers" means pre-authorized transactions and transfers to and from your accounts using EBSB BUSINESS ONLINE. EBSB BUSINESS ONLINE Services" means the services provided pursuant to this Agreement. "Business Days" means Monday through Friday, holidays are not included. 3. Bank Enrollment/Access - Once you have executed this Agreement Form, the EBSB Business Online Enrollment Form,, ACH Agreement, Wire Transfer Agreement and any other documents required by Bank and you have been approved to use EBSB BUSINESS ONLNE, you will be assigned a Company Identification ( ID ), a User ID, a Password, and/or a Digital Password Device. A unique User ID and Password must be used by each User YOU authorize to act on your behalf. EBSB may require the use of a Digital Password Device for any or all of your Users. Therefore, there could be multiple User IDs with Passwords, and Digital Password Devices (if applicable) being used to gain access to EBSB BUSINESS ONLINE. The Digital Password Device is for use only with your accounts that are subject to this Agreement. You may not use the Device for any other purpose. You may not give a Digital Password Device or permit one to be given to any person not authorized to act on your behalf. You will be required to change the passwords upon your first access to EBSB BUSINESS ONLINE and thereafter you will control and manage your Company, Users passwords ( Passwords ), and Digital Password Device, and will be solely responsible for the use by anyone accessing EBSB BUSINESS ONLINE who utilizes your correct Company and User login credentials. You will have the ability to set up additional users to access your accounts and will be responsible for assigning such users passwords and for maintaining the security surrounding your users, passwords and user transaction authority. Self-Enroll If you choose to use EBSB s self-enroll application you will be assigned a Company Identification ( ID ), and choose your own User ID and Password. The Bank may assign a Digital Password Device to you. Once your self-enroll application has been approved by the Bank you will receive a Welcome to login to EBSB BUSINESS ONLINE. User(s) - The primary user or ADMIN (who must be an authorized signer on the account(s)) is responsible for creating the additional users in the system. The primary user or ADMIN may appoint other users with administration privileges if they choose to. The administration users are able to give rights and entitlements to other users as they see fit. Users are not permitted to share logins. Each User must have their own unique login credentials. If there are multiple authorized users setup in your online banking, we STRONGLY recommend using dual control to help protect you against any misuse. For companies that utilize Wire and ACH services we recommend setting daily limits for each authorized user in addition to the dual control feature. The Bank will not be liable for any loss incurred by Company as a result of Company s failure not to use dual control or its failure not to set daily limits for each authorized user. 2 Revised Oct VIII

3 Company is responsible for reviewing user access periodically, and must take the appropriate action to remove access for users who are no longer authorized to perform online banking activity for the Company. The Bank will not be liable for any activity per formed by unauthorized users. If a User is no longer authorized to perform online banking activity and they have been assigned a Digital Password Device you must notify the Bank so it can be disabled. The Digital Password Device must be returned to the Bank, or can be reassigned by the Bank to a new authorized User at your Company. The Bank will act on instructions received under valid Comp any ID, User ID(s), Password, or Digital Password Device(s), or other authentication means and will have no duty to further verify the identity of any EBSB BUSINESS ONLINE user with valid Comp any ID, User ID(s), Password, or Digital Password Device(s), or other authentication means and shall not have any liability for transactions occurring on your account originated with valid Comp any ID, User ID(s), Password, or Digital Password Device(s), or other authentication means.. Advanced Login Authentication - Secure Sign On is designed to provide enhanced security and help protect against fraudulent online activity by establishing User identity when accessing EBSB BUSINESS ONLINE. New customers or existing customers logging in from an unrecognized device will be required to perform a step up security enhancement process, which will consist of entering a 6 digit security code received via SMS TXT or phone call from our online banking provider, FIS. The phone number(s) you use must be on file with the Bank prior to login. In some cases EBSB may require authorized users to utilize Advanced Authentication Approval when transmitting Wires and ACH Transactions. Secure Token Sign On- If you have been approve by the Bank to process Wire Transfers or ACH Files (separate agreements required) you will be required to utilize Secure Token Sign On in addition to Advanced Login Authentication. Secure Token Sign On is designed to provide enhanced security by means of a Digital Password Device (token), which requires the authorized User to enter a Passcode in place of a Password whether or not the computer used to access the system has been registered with the Bank. Additional authentication methods - such as Wire Security Code and Out of Band Authentication Approval (OOBA) will be required when performing certain transactions such as Wire Transfers or ACH Transactions Transmission. Mandatory Alerts - Mandatory Alerts have been setup by the Bank in the event the authorized user(s) change any of the following information: address change (goes to new and old ) Password Change Telephone Number Changed Updated User Entitlements User Profile Activity Should you receive any of the above listed alerts or any other alerts not listed and the authorized user(s) did not perform said action Please contact the Bank immediately at during normal operating hours. The Company agrees that Bank shall have no responsibility to the Company for any loss incurred as a result of the Company s delay in contacting the Bank after having received any of the above mandatory listed alerts, or any other alerts not listed, or for receiving any optional alert the authorized user(s) setup. Lost or Stolen Company ID, User ID(s), Passwords, or Digital Password Devices or Unauthorized Transactions - If you believe that your Comp any ID, User ID(s), Password, or Digital Password Device(s) has been lost or stolen or that someone has fraudulently transferred or may transfer money into or from your account(s) without your permission, Please contact the Bank immediately at during normal operating hours. Company agrees that Bank shall have no responsibility to Company for any loss 3 Revised Oct VIII

4 incurred as a result of Company s delay in contacting the Bank after having reason to believe that your Company ID, User ID(s), Password or Digital Password Device(s) has been lost or stolen or that someone has fraudulently transferred or may transfer money into or from your account without your permission. You agree that we may investigate any alleged unauthorized transaction and we may not re-credit your account(s), unless the law requires otherwise. You agree to cooperate with us if you make any claim concerning unauthorized transactions on your account. You agree to assist us in pursuing civil and criminal penalties against the party(ies) responsible for such unauthorized transactions. Such assistance may include, but not be limited to, filing reports and complaints with law enforcement and/or government agencies, and giving statements under oath. Company agrees that upon EBSB s request, you will provide proof you are adhering to the security as listed within this agreement, which may include proof you are using up to date virus and malware software as well as proof scans are done on a regular basis on ALL equipment and or networks whether personal or company issued that is used by any authorized user to access EBSB BUSINESS ONLINE. Equipment includes but is not limited to; smart devices; laptops; desktops; or any other means used to access EBSB BUSINESS ONLINE. You also agree to provide and secure any other proof as we may request and you further agree to cooperate in any Bank investigation. 4. Security - Bank will verify that Company has authorized, canceled or amended an entry that constitutes a payment order solely by means of the security procedures inherent in the EBSB BUSINESS ONLINE. This Security Procedure uses 128-bit SSL encryption and requires use of a Company ID, User ID, and User Password Digital Password Device, and Codes or any other means to access EBSB BUSINESS ONLINE. Orders can only be transmitted to Bank through the Bank s Business Online Banking Internet Website. You agree that the security procedure herein- described is commercially reasonable and is the security procedure that best meets Company s needs and its requirements given the size, type and frequency of the orders Company will issue to Bank. Company further agrees to safeguard any number, Company ID, User ID(s), User Password(s), Digital Password Device and Codes, or other identifier assigned to it, from discovery by any unauthorized person. The security procedure is not designed to and will not detect errors and Company assumes all responsibility for errors that ma y be contained in its Orders to Bank. Notwithstanding, our efforts to ensure that EBSB BUSINESS ONLINE is secure, you acknowledge that the Internet is inherently secure and that all data transfers, including electronic mail, occur openly on the Internet and potentially can be monitored and read by others. We cannot and do not warrant that all data transfers utilizing EBSB BUSINESS ONLINE, or transmitted to and from use will not be monitored or read by other. The Bank may from time to time implement technological or procedural changes to enhance the security of these securities. The Bank may or may not update this Agreement at those occurrences. Company is responsible for the safekeeping and the security of the, Company ID, User ID(s), User Password(s), Digital Password Device and Codes or any other means to access EBSB BUSINESS ONLINE. Company must ensure it has appropriate security measures. You understand and agree that when the Bank acts on any Order, the Bank and any beneficiary bank may rely solely on (1) the beneficiary s account number even if it identifies a person different from the named beneficiary, and (2) if provided to Bank, the identification number of any other financial institution through or to which the funds are to be transferred, rather than the name of the financial institution. Company expressly agrees to be bound by any Order, whether or not authorized, issued in its name and accepted by Bank in compliance with the security procedure. The Bank has the right to monitor and review all banking activity conducted on EBSB BUSINESS ONLINE but by doing so undertakes no obligation to monitor transactions through EBSB BUSINESS ONLINE to determine that they are made on behalf of the account holder. 4 Revised Oct VIII

5 In order to help avoid unauthorized access to your accounts and financial information you agree to adopt and implement the following preventative security measures, which Company agrees are both commercially reasonable and feasible for it to implement: Check your account(s) at least once a day and report any suspicious activity immediately to the Bank Do not reveal or share your login credentials with anyone else. Each user should have their own Avoid using personal information for sign on credentials such as birthdays and addresses Do not keep your credentials written down anywhere Do not leave your device unattended whenever accessing the Banks website Keep all operating systems, browsers, anti-virus and other software up to date Do not download free software or open s or click on web links you are not familiar with Scan your systems on a regular basis for virus, malware and other harmful threats Keep up to date with the latest threats Do not open s where you do not recognize the sender Use caution when opening s with links or attachments in them Do not respond to s or give out information over the phone such as User Credentials or personal information such as your SSN Company agrees that Bank shall have no responsibility to Company for any loss incurred as a result of Company s failure to adopt and implement any of the above security measures. Company also understands that by adopting and implementing any of the above security measures it does not ensure or guarantee it against unauthorized activity. As a reminder, it is not the practice of EBSB to contact you by sending out messages asking you to enter personal information or to click on a link. The Bank will communicate this information through its Secure Message Center through your EBSB BUSINESS ONLINE or other means of communication through EBSB BUSSINESS ONLINE. If you receive a suspicious or phone call, Please contact the Bank immediately at during normal operating hours. Company agrees that Bank shall have no responsibility to Company for any loss incurred as a result of Company s delay in contacting the Bank in response to Company having received a suspicious or phone call purportedly sent or made on behalf of EBSB. Company agrees that the security measures offered and/or recommended by Bank in this Agreement are commercially reasonable and feasible. 5. Equipment and Software The customer is solely responsible for the maintenance, acquisition, installation, and operation of its computers and the hardware or software used to access EBSB BUSINESS ONLINE. These devices include but are not limited to; telephones, modems, computers, smart devices, and so forth. You agree to use devices and software that are compatible with the Banks program and understand the requirements may change from time to time with or without notice. The bank is not responsible for any incompatible equipment or software. You indemnify the Bank against any errors, failures or malfunction of your equipment and software and understand that it is your responsibility to protect your systems against virus or any related issues or problems that may occur. You agree to keep your system(s) up to date and free of any virus, malware, or other harmful components. The Bank STRONGLY recommends you routinely scan all your devices using the most up to date virus protection programs and malicious software detecting products. The Bank is not responsible for any orders received under valid customer authentication methods as discussed in section Fees and Charges - You agree to pay the fees and charges for your use of EBSB BUSINESS ONLINE as set forth in the current Business Service Fee Schedule. You agree that all such fees and charges will be deducted from any of your account(s). You agree to pay any additional reasonable charges for services your request, 5 Revised Oct VIII

6 which are not covered by this Agreement, The Bank reserves the right to change the charges, fees or other terms described in this Agreement without notice. You are also responsible for telephone and Internet service fees you incur in connection with your use of EBSB BUSINESS ONLINE. 7. Cutoff Hours Any transaction made through EBSB BUSINESS ON LINE shall be considered received by Bank in accordance with the applicable cutoff Hours and Business Days and hours as amended from time to time. Bank's Cutoff Hours for receipt of data transmitted through EBSB BUSINESS ONLINE are as follows, ACH: 4:00 p.m. EST, Stop Payments, NOT including Bill Pay Stop Payments: 8:00 p.m. EST, Wires: 3:00 p.m. EST. The Cutoff Hours indicated above are for processing of transactions on the Business Day the request is received by the Bank. If a request is received after the applicable Cutoff Hour, the transaction will be processed on the following Business Day. Transfers between your accounts are real-time transactions and can be processed at any time the EBSB BUSINESS ONLINE system and Bank s data processing system are operating. The Cutoff Hour for transfers is 8:00 p.m. EST. The Bank s data processing system generally is available at all times. Transfer attempted at any time the Bank s data processing system is not operating will normally not be processed until the system is available again. 8. Stop Payment Requests You may initiate an online stop payment request for items you have written on your accounts. A stop payment request applies only to the check, which conforms EXACTLY to the description on the form. The Bank will not be responsible for failing to stop payment if the information you provided is not correct, or sufficient, or the specific check cannot be identified in time to stop payment. If you make your stop payment request online or by telephone, we may also require you to put your request in the form of a written notification and forward it to us within 14 days. We will not be liable for paying a check over a stop payment request if the request is incomplete or incorrect, or if a written notification is required but not provided. You agree to access the appropriate account history (such as prior account statements) and determine whether the check you want stopped has or has not already been paid. You will incur stop payment charges as disclosed in the current Consumer Service Fee Schedule for the applicable account. This request/ notice will not be effective if the Bank has already cashed the check or is already committed to honor or pay the item under applicable laws, regulations, or rules governing checks or ACH items. In the case of a pre-authorized ACH debit, you understand that the originator has the capability to change the amount of the debit and that the Bank may not be able to stop any ACH debit other than the one conforming EXACT LY to the description you have given us on the form. If the item is a check, this request/notice must be received prior to any applicable Cutoff Hour and the Bank must have a reasonable time to act on the request/notice prior to the Cutoff Hour. If the item is an ACH debit, this request must be received by the Bank at least three (3) Business Days before the scheduled payment date. Stop payment requests are valid for six (6) months whether written, oral, or electronic. After that time, the check may be paid and charged to your account unless you renew the stop payment request in writing for an additional fee. This request/notice will be cancelled if the account is closed or transferred. The request/notice is made subject to the terms of the Bank's deposit agreements in effect. You agree to indemnify, defend, and hold us harmless from all actions, claims, and damages related to, or arising from, our action in stopping payment on any check or ACH debit pursuant to your stop payment request. 9. Bill Payment Service Details - A Bill Payment is a preauthorized transfer made from your designated deposit account based upon payment information provided by you. The Bill Payment Service permits you to direct payments from your Bill Payment Account to third parties ( payees ). Bill Payment payees can be individuals or businesses. Bill Payments can be made from a Checking or Money Market Account. All payments will be deducted from your designated Bill Payment Account, and you agree that we may debit your Bill Payment Account for such 6 Revised Oct VIII

7 payments without requiring your signature on the item and without prior notice by you. All Bill Payments must be payable in U.S. dollars to a payee located in the United States (including Guam, Puerto Rico, U.S. Virgin Islands, and international U.S. military bases). You may not use the Bill Payment Service for any payments to organizations conducting business illegally. For payments to U.S. government agencies (IRS, taxes, child support, court fees, etc.) the Bill Payment Service has limited ability to research any issues that may arise due to the government s strict adherence to the Consumer Privacy Act. The Bill Payment Service will not be responsible for any late fees or penalties that may be incurred for these types of payments. If you choose to initiate these types of payments, it will be your sole responsibility if these payments are delayed or improperly processed or credited. You may not use the Bill Payment Service to make payments to settle securities purchases or for insurance payments, court-ordered payments, overdue payments, alimony, or child support payments. We reserve the right, from time to time, to further restrict the types of payees to whom bill payments may be made using the Bill Payment Service. 10. Scheduling Bill Payments - You may choose to schedule one-time payments or you may choose to schedule recurring payments for the same dollar amount to be paid at regular intervals. You should schedule a payment to a new payee, at least ten (10) business days before any payment due date in order to allow time for us to setup the payee and verify information about your account with the payee. We may make the payment either by transferring the funds electronically to the payee or by mailing the payee a check. You authorize us and any third party acting on our behalf to choose the most effective method to process your payment, including without limitation, electronic, paper, or some other means. If the payment is intended for a payee located in a U.S. Territory (including Guam, Puerto Rico, U.S. Virgin Islands and international military bases) or for a U.S. government agency, you must schedule it at least ten (10) business days prior to the due date shown on your invoice or provided in your agreement with the payee. If the payment is an electronic payment, you must schedule it to be made at least three (3) business days prior to the due date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period. If the payee cannot accept electronic payments and a check payment is to be made, you must schedule that payment to be made at least five (5) business days prior to the payment due date described above. You may schedule payments during the grace period, but any late charges associated with these payments will be your responsibility regardless of the cause of the late payment. If you do not have sufficient funds in your Bill Payment Account on the scheduled payment date, your payment may be delayed. If you do not follow the time frames described above for scheduling payments or do not have sufficient funds in your Bill Payment Account, we shall not be liable for any failure to make payment. You will bear full responsibility for all penalties, late fees, finance charges, damages or other actions taken by the payee as a result of your scheduling. If you schedule your payment and follow all instructions provided, but the payment is not received by the payee in a timely manner, you may contact us at; We will work with the payee on your behalf to attempt to have any late fees or charges reversed. The date the payee credits the payment depends upon the payee s payment processing procedures and East Boston Savings Bank will not be responsible for any delay in crediting the payment that is a result of the payee s payment processing procedures. If the payee is a common payee, the address may be changed to reflect the address through which that payee accepts remittances whether it is a check, electronic payment, or some other means. You will not have the ability to change this address online thereafter. If you move, or if the payee sends you a new address, you will need to enter a new payee into the system with the new address. 11. Bill Payment Stop Payments: You may initiate a stop payment request for items you initiate through Bill Pay only if they were sent via check and have not been negotiated. Bill Payments that were sent electronically may not be stopped. Bill Pay stop payments cannot be placed online. Please contact the Bank at during normal operating hours in order to place the Bill Pay stop payment. The request must be received at least one hour prior to the Bank s closing time to ensure enough time to place the stop payment. A stop payment request applies only to the check, which conforms EXACTLY to 7 Revised Oct VIII

8 the description on the Bill Pay system. The Bank will not be responsible for failing to stop payment if the information you provided is not correct or sufficient or the specific check cannot be identified in time to stop payment. If you make your stop payment by telephone, we may also require you to put your request in the form of a written notification and forward it to us within 14 days. Do not place your stop payment request through the Bank s online secure as it may not allow enough time for the Bank to place the stop payment before it is negotiated. We will not be liable for paying a check over a stop payment request if the request is incomplete or incorrect, or placed after the check has cleared, or if a written notification is required but not provided. You agree to access the appropriate account history (such as your bill pay resources) and determine whether the check you want stopped has or has not already been paid. You will incur stop payment charges as disclosed in the current Business Service Fee Schedule for the applicable account. Bill Pay stop payments will fall under the normal stop payment fee. This request/notice will not be effective if the Bank has already cashed the check or is already committed to honor or pay the item under applicable laws, regulations, or rules governing checks or ACH items. If a Bill Pay check is outstanding for a period of 90 days a stop payment will automatically be places on the check and the funds re-deposited back into your Bill Pay account. Stopped check Bill Pays can take up to 48 hours to be re-deposited back into the Bill Pay account from the time the Bank is notified 11. Bill Payment Limits The per item maximum is $9, The total daily maximum per customer is $20, These limits are subject to change at the Banks discretion. 12. Insufficient Funds - If there are insufficient funds in your Bill Payment Account to make payments, we may either refuse to pay the item or make payment thereby overdrawing your account. In either occurrence, you are responsible for any overdraft fees imposed, as disclosed in our Business Service Fee Schedule. Your Bill Payment Account may be blocked due to overdraft activity. If your Bill Payment Account is blocked, no additional Bill Payments will be processed until the account is properly funded and all outstanding payments or transfers have been cleared. If a payment has been made to a payee for which funds are not available in your Bill Payment Account, and we are unable to recover the amount of the payment by debit to the payee or by charging your Bill Paymentt Account, you agree to repay the funds owed immediately upon demand. 13. Confirmation of Payments - Each time you properly execute and schedule a payment, the My Bills and Scheduled Payments screen will display the details of the payment including the Payment Confirmation Number in the Payments Outbox. If you have canceled a payment successfully, the Payments Outbox will no longer display the details for that payment. Mandatory Bill Payment Alerts The following alerts are mandatory for security purposes and can be received via and/or SMS Text message Automatic Payment Notice ( only) E-Bill Received E-Bill Reminder ( only) Payee Added or Changes Payment Failed or Overdrew Account Payment Processed ( only) Payment Reminder 8 Revised Oct VIII

9 Should you receive any of the above-listed alerts, or any other alerts not listed and you did not perform said action, Please contact the bank at during normal operating hours 14. Suspended Bill Payments In the event your Bill Payment is flagged for suspicious activity it may be suspended or declined. The Bank will make every effort to contact you using the telephone number(s) we have on file. If the Bank is unable to reach you after 2 business days from date of suspension the payment may be declined. You understand that if your Bill Payment is suspended for any reason it may reach the payee late, or if the Bank declines the payment it will not reach the payee at all and the Bank shall not be liable. You, the customer will bear full responsibility for all penalties, late fees, finance charges, damages or other actions taken by the payee as a result. We will notify you by mail at the address we have on file if we are unable to reach you and the payment has been declined by the Bank In the event the payment was declined by the Bank and it was submitted by you the customer please contact the Bank prior to resubmitting the payment so it is not flagged by the system and declined. 15. Provisional Payment Credit given by us to you with respect to an ACH credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry. The party making payment to you via such entry shall not be deemed to have paid you in the amount of such entry. 16. Notice of Receipt of Entry Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account(s), we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will notify you of the receipt of payment in the periodic statement we provide to you. 17. Regulation D Account Restrictions For certain money market, savings and other types of accounts, during any statement period, you may not make more than six withdrawals or transfers to another account of yours with another financial institution or to a third party. Your account is limited to six pre-authorized, automatic, telephone, or online banking transfers to another account or to third parties or checks made to a third party per statement cycle. If you exceed these transfer limitations, such accounts will be subject to additional service charges, closure by us, or may be transferred or converted to a transaction account. Each of your account(s) at the Bank is also governed by the applicable account disclosure statements which have been previously provided and which you have read and understand. The provisions of any such account disclosures that are required by regulation only for consumer accounts (for personal or household purpose) shall not apply to your commercial or business accounts. 18. Error Resolution In case of errors or questions about your electronic transactions or the Service, telephone us or contact us at: East Boston Savings Bank Customer Service Center ATTN: Electronic Banking OR Call Monday Wednesday, 8:00AM - 5:00PM EST P. O Box 101 Thursday Friday, 8:00AM - 6:00PM EST South Boston MA Saturday, 9:00AM to 1:00PM EST Services provided pursuant to this Agreement are all business and not consumer in nature and the provisions of the Electronic Funds Transfer Act do not apply. The error resolution and liability provisions on the back of periodic statements you may receive from us do not apply to business or other non-personal accounts. Please notify us immediately if you discover any unauthorized transactions or errors, and must send us a written notice of the problem within 10 days from the date of discovery or your receipt of the first statement or notice reflecting the problem, whichever occurs first. Under no circumstances will we be liable for any 9 Revised Oct VIII

10 special or consequential damages involving such accounts. You assume sole responsibility for any unauthorized use of your account's Company ID, User ID(s), and User Password(s) and or Digital Password Device(s) and shall indemnify, defend and hold the Bank harmless from all claims, actions, proceedings, losses and damages related to or arising out of any unauthorized transactions. We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH credits) and which are not subject to the Electronic Funds Transfer Act. In those cases your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the Commonwealth of Massachusetts (MGL. Chapter 106, Section 4A-101 Et Seq). 19. Our Liability for Failure to Make a Transfer - If we do not complete a transfer to or from your account on time or in the correct amount, according to our agreement with you when you have properly instructed us to do so, we will be liable to you for your losses or damages caused as a result. However, there are some exceptions. We will NOT be liable, for instance, if: (1) Through no fault of ours, you do not have enough available funds in your account to make a transfer. (2) The transfer would exceed any daily/ monthly limit or permitted overdraft line you have with the Bank. (3) Your account is closed, or if it has been frozen. (4) The funds in your account are subject to legal process, an uncollected funds hold, or are otherwise not available for withdrawal. (5) The information supplied by you or a third party is incorrect, incomplete, ambiguous, or untimely. (6) Any electronic terminal, telecommunication device, or any part of the EBSB BUSINESS ONLINE electronic funds transfer system is not working properly and you knew about the problem when you started the transfer. (7) You have not properly followed the on-screen instructions for using EBSB BUSINESS ONLINE. (8) Circumstances beyond our control (such as fire, flood, water damage, power failure, strike, labor dispute, act of war, computer breakdown, telephone line disruption, or a natural disaster) prevent or delay the transfer despite reasonable precautions that we have taken. (9) The accounts you are trying to transfer funds into and from are assigned to different Taxpayer Identification Numbers. There may be other exceptions stated in other agreements we may have with you. 20. Disclaimer of Warranty and Limitation of Liability - We make no warranty of any kind, expressed or implied, including any implied warranty of merchantability or fitness for a particular purpose, in connection with the EBSB BUSINESS ONLINE services provided to you under this Agreement. We do not and cannot warrant that EBSB BUSINESS ONLINE will operate without errors, or that any or all EBSB BUSINESS ONLINE services will be available and operational at all times. Except as specifically provided in this Agreement, or otherwise required by law, you agree that our officers, directors, employees, agents or contractors are not liable for any indirect, incidental, special or consequential damages under or by reason of any services or products provided under this Agreement or by reason of your use of or access to EBSB BUSINESS ONLINE, including loss of profits, revenue, data or use by you or any third party, whether in an action in contract or tort or based on a warranty. Further, in no event shall the liability of Bank and its affiliates exceed the amounts paid by you for the services provided to you through EBSB BUSINESS ONLINE. 21. Bank Responsibilities; Liability; Limitations On Liability; Indemnity - In the performance of the services required by this Agreement, Bank shall be entitled to rely solely on the information, representations, and warranties provided by Company pursuant to this Agreement, and shall not be responsible for the accuracy or completeness thereof. Bank shall be responsible only for performing the services expressly provided for in this Agreement, and shall be liable only for its negligence or willful misconduct in performing those services. Bank shall not be responsible for Company's acts or omissions (including without limitation to the amount, accuracy, timeliness of transmittal or authorization of any entry received from Company) or those of any other person, including without limitation to any Federal Reserve Bank, ACH, or transmission or communications facility, any Receiver or Receiving Depository Bank (including without limitation to the return of an entry by such Receiver or Receiving Depository Bank), and no such person shall be deemed Bank's agent. Company agrees to indemnify Bank against any loss, liability or expense (including but not limited to attorney's fees and expenses) resulting from or arising out of any claim of any person that the Bank is responsible for, any act or omission of Company or any other person. Bank shall be liable only for Company's actual damages; in no event shall Bank be liable for any consequential, special, incidental, punitive or indirect 10 Revised Oct VIII

11 loss or damage which Company may incur or suffer in connection with this Agreement, whether or not the likelihood or such damages was known or contemplated by the Bank and regardless of the legal or equitable theory of liability which Company may assert, including without limitation to, loss or damage from subsequent wrongful dishonor resulting from Bank's acts or omissions pursuant to this Agreement. Without limiting the generality of the foregoing provisions, Bank shall be excused from failing to act or delay in acting if such failure or delay is caused by legal constraint, interruption of transmission or communication facilities, equipment failure, war, natural disaster, emergency conditions, or other circumstance beyond Bank's control. In addition, Bank shall be excused from failing to transmit or delay in transmitting an entry if such transmittal would result in Bank's having exceeded any limitation upon its intra- day net funds position established pursuant to present or future Federal Reserve guidelines or in Bank's reasonable judgment otherwise violate any provision of any present or future risk control program of the Federal Reserve, or any rule or regulation or any other U.S. governmental regulatory authority. Subject to the foregoing limitations, Bank's liability for loss of interest resulting from error or delay shall be calculated by using a rate equal to the average Federal Funds Rate set by the Federal Reserve Bank for the period involved. At Bank's option, payment of such interest may be made by crediting the Account resulting from or arising out of any claim of any person that Bank is responsible for, any act or omission of Company or any other person. 22. Company s Liability to Bank - Company shall indemnify and hold Bank harmless on account of any loss, cost or expense (including reasonable attorney fees) caused by Company s mistake, omission or failure to exercise reasonable care or to comply with the Rules this Agreements or, this Agreement or any agreement Company may have with its customers. 23. Disclosure of Information We may disclose information to third parties about your account or the transactions you make: 1. Where it is necessary for completing transactions or resolving errors involving EBSB BUSINESSONLINE; 2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or a merchant; 3. In order to comply with government agency rules, court orders, or other applicable law; 4. To our employees service providers, auditors, attorneys, collection agents or affiliated companies, in the course of their duties and to the extent allowed by law; or 5. If you give us your permission 24. Termination of Service If you want to terminate your access to the EBSB BUSINESS ONLINE service, call during normal operating hours. Following receipt of your call, we may send a written termination authorization for your signature, which needs to be returned to us. RECURRING TRANSFERS WILL NOT NECESSARILY BE DISCONTINUED BECAUSE YOU T ERMINAT E ACCESS TO T HE SERVICE. IF YOU W ANT T O MAKE SURE T HAT RECURRING TRANSFERS BETWEEN ACCOUNTS ARE STOPPED, YOU MUST NOTIFY THE BANK IN WRIT ING AND SPECIFICALLY REQUEST TERMINATION OF THE TRANSFERS(S). The Bank reserves the right to terminate EBSB BUSINESS ONLINE, in whole or in part, at any time with or without cause and without prior written notice. In that event, or in the event that you give us a termination notice, we may (but are not obligated to) immediately discontinue making previously authorized transfers, including recurring transfers and other transfers that were previously authorized but not yet made. We also reserve the right to temporarily suspend EBSB BUSINESS ONLINE in situations deemed appropriate by us, in our sole and absolute discretion, including when we believe a breach of system security has occurred or is being attempted. We may consider repeated incorrect attempts to enter your Company ID, User ID, and User Password and or Digital Password Device as an indication of an attempted security breach. Termination of the Service does not affect your obligations under this Agreement with respect to occurrences before termination. 11 Revised Oct VIII

12 25. Consent to Electronic Delivery of Notices - You agree that any notice or other type of communication provided to you pursuant to the terms of this Agreement, and any future disclosures required by law, including electronic fund transfer disclosures, may be made electronically by posting the notice on the Bank s website, EBSB BUSINESS ONLINE, or by . You agree to notify us immediately of any change in your address. The Bank is not responsible for any such document(s) that is returned to us for invalid or undeliverable address. 26. Change in Terms - We may change any term of this Agreement at any time. If the change would result in increased fees for any EBSB BUSINESS ONLINE service, increased liability for you, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, we agree to give you notice at least 30 days before the effective date of any such change, unless an immediate change is necessary to maintain the security of an account or our electronic fund transfer system. We will post any required notice of the change in terms on the Bank s website, or EBSB BUSINESS ONLINE, or forward it to you by , or by postal mail. If advanced notice of the change is not required, and disclosure does not jeopardize the security of the account or our electronic fund transfer system, we will notify you of the change in terms within 30 days after the change becomes effective. Your continued use of any EBSB BUSINESS ONLINE service indicates your acceptance of the change in terms. We reserve the right to waive, reduce or reverse charges or fees in individual situations. You acknowledge and agree that changes to fees applicable to specific accounts are governed by the applicable deposit agreements. 27. Miscellaneous T his Agreement is subject to applicable Federal Laws and the laws of the Commonwealth of Massachusetts (except to the extent this Agreement can and does vary such rules or laws). Jurisdiction and venue for all disputes arising under this agreement shall be in Suffolk County, Massachusetts, and Company agrees to waive any arguments it might have that it is not subject to jurisdiction or venue in Suffolk County, Massachusetts. If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. The headings in this Agreement are for convenience or reference only and will not govern the interpretation of the provisions. Any waiver (expressed or implied) by either party of any default or breach of this Agreement must be in writing and shall not constitute a waiver of any other or subsequent default or breach. You may not assign this Agreement. This Agreement is binding upon your heirs and Bank's successors and assigns. Certain of the obligations of the parties pursuant to this Agreement that by their nature would continue beyond the termination, cancellation, or expiration of this Agreement shall survive termination, cancellation, or expiration of this Agreement. The persons executing this Agreement represent and warrant that they have the authority to bind the entities on whose behalf they are executing the Agreement. 28. System Requirements Operating System Apple Inc. Safari Microsoft Internet Explorer Microsoft Edge Mozilla Firefox Google Chrome Windows 7 64 bit or latest 58 or latest Windows bit or latest 58 or latest Windows bit or latest 53 or latest 58 or latest Windows bit or latest 53 or latest 58 or latest Mac OS X (El Capitan ) Mac OS (Sierra ) Browser configured to support: 128-bit encryption JavaScript 12 Revised Oct VIII

13 Cookies Cascading Style Sheets Browser page cache should be set to get a new version every visit to the page Hardware: 1 GHz Celeron processor 1024x768 SVGA resolution at 256 colors 500 MB RAM 128 Kbps (slowest DSL) or better Bill Payment Operating Requirements Operating System Apple Inc. Safari Microsoft Internet Explorer Microsoft Edge Mozilla Firefox Google Chrome Windows 7 SP Latest 2 versions Latest 2 versions Windows Latest 2 versions Latest 2 versions Windows Latest 2 Latest 2 versions Latest 2 versions versions OS X (Sierra ) Latest 2 versions Latest 2 versions macos X (High 11 - Latest 2 versions Latest 2 versions Sierra ) ios 11 Mobile Safari Note: Cookies and JavaScript must be enabled Other browsers and operating systems may be used; however, they are not supported by FIS and some features may not function properly. For maximum security, always use the latest version of a browser. Beta versions of browsers and operating systems are not recommended or supported. Additionally, if a browser or operating system is no longer supported by the vendor, it is not supported by FIS. 29. Electronic Statement Delivery ("Online Statements") 1. The Scope of Your Consent If you consent to Online Statements, you also consent to delivery of the following categories of communications from us in electronic form: Periodic and annual statements you are provided in connection with the deposit accounts for which we offer, and you select, electronic delivery, whether now or in the future; Images of checks paid against your account(s) during the statement period, if applicable; Consumer disclosures, as applicable, that are required and may be provided on a consumer s periodic statements, including, but not limited to, the Error Resolution Notice required by the federal Electronic Fund Transfer Act and Massachusetts General Laws Chapter 167B, certain deposit account terms as required under the federal Truth-in-Savings Act, and the Billing Rights Statement required by the federal Truth in Lending Act and Massachusetts General Laws Chapter 140D; Notices and other communications we may send to you, including but not limited to notices regarding changes to the terms of your account, including applicable fees. Your continued use of the services following such communication will constitute your acceptance of the revised terms. (Certain changes in terms notices that would normally be provided as an insert with your paper statement may continue to be provided in paper form via U.S. mail or may be provided by .) If your account is a joint account, one joint owner s election to receive Online Statements shall apply to both or all of you. 13 Revised Oct VIII