Important information regarding the use of our web site

To access the terms and conditions for the use of material found on our web site, please read the following documents:


ONLINE BANKING TERMS & CONDITIONS


INTRODUCTION

This O2 Online Banking Agreement and Disclosure governs your use of O2 Online Banking. Throughout this web site the Agreement, Disclosure, and all related documents will be referred to as "Agreement". By using O2 Online Banking, you agree to all of the terms of this Agreement. Please read it carefully and keep a copy for your records.

DEFINITIONS

You or Your - The person(s) subscribing to or using O2 Online Banking.

We, Us, or Our - Refers to Old Second National Bank, and any agent, independent contractor, designee, or assignee Old Second National Bank may involve in the provision of O2 Online Banking.

Business Day - Any calendar day other than Saturday, Sunday, and any holidays recognized by us. Bill payments are processed on all business days that both the Federal Reserve Bank and the U.S. Postal System are operating and open for business.

Business Day Cut-Off - Our primary banking offices are located in Aurora, IL, and we base our business day on the Central Daylight Time zone. For posting purposes, we will process all transfer files completed by 7:00PM CT on that business date. Transfers completed after 7:00PM CT will be processed on the following business day. We will process payments entered through our Bill Payment system by 12:00 Noon CT on that business day. Payments entered after 12:00 Noon CT will be processed on the following business day. Payments and transfers do not get processed on holidays or weekends. If a scheduled payment or transfer falls on a holiday or weekend, it will be processed on the Friday before the weekend, or the last business day before the holiday.

Privacy Statement - Privacy is important to our customers. We have taken steps designed to insure security and privacy for your personal and financial dealings with the bank. Our customer privacy statement can be obtained by clicking on the following link - Privacy Statement.

ABOUT O2 ONLINE BANKING

Old Second National Bank's O2 Online Banking consists of an Online Banking web site that provides a number of financial services to its customers.

The O2 Online Banking system currently may provide you with the following services:

  • Account Inquiries, Balances, Rates, etc.
  • Transaction History
  • Transaction Downloads
  • Account Transfers
  • Secure Applications
  • View Detailed Transactions
  • Various Bookkeeping Services
  • Payments to our Loan Accounts
  • Account Alerts

If you select Bill Payment, these additional functions are available:

  • One-time Payments
  • Occasional Payments
  • Fixed Recurring Payments
  • Variable Recurring Payments

Special commercial services may also be offered to accounts including:

  • Wire Transfer Requests
  • Multiple User Sign-On
  • ACH Origination
  • Positive Pay

Additional fees may apply. Please contact your account officer for information.

WE DO NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES CONCERNING O2 ONLINE BANKING SOFTWARE OR SERVICES OR BROWSER INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT OF THIRD PARTY PROPRIETARY RIGHTS UNLESS DISCLAIMING SUCH WARRANTIES IS PROHIBITED BY LAW.

INTERNET SECURITY INFORMATION

Old Second National Bank’s O2 Online Banking system utilizes a comprehensive security strategy designed to protect your accounts and transactions conducted over the Internet. In addition to our login security, we use the SSL (secure socket layer) encryption technology for everything you do in the O2 Online Banking system. This technology is automatically activated by your browser when it attempts to connect to our system. Whenever SSL is securing your communications, the browser will typically indicate the "secure session" by changing the appearance of a small padlock icon at the bottom of the screen from open to locked. When locked, your communications are scrambled from your browser to our servers at all times to help prevent an unauthorized party from reading the information as it is carried over the Internet. The Online Banking service can be accessed using the most current and prior major release of the following browsers:

  • Internet Explorer (IE) 11 & Microsoft Edge
  • Firefox
  • Safari - Apple/Mac Users only
  • Google Chrome

During your use of the O2 Online Banking system, we will pass a "cookie" to your browser for identifying you during the session. We do not (and cannot) use our cookies to obtain new information about you or to read information stored on your hard drive. A "cookie" is a way for web sites to recognize whether you have visited the site before. It is a piece of data given to a browser by a web server, so that the browser will hand it back to the server on subsequent visits. When you log into the system, this cookie enables us to process multiple transactions during the session without you having to provide your O2 Online Banking ID and password for each individual transaction. When you log off, or after ten minutes of inactivity, the cookie is no longer accepted and must be renewed by re-entering your password. A new cookie is used for each session. That way, no one can use the cookie to access your account. We are not responsible for the security of the information stored on your personal computer. We strongly encourage our customers to clear the cache on their computers immediately after conducting financial transactions over the internet. Please use your browser help function for instructions on doing so.

In addition to the security measures described above, there may be other security notices posted on the website regarding security issues. It is your responsibility to read all applicable notices. One of the main security features regarding the use of the O2 Online Banking system is the ID and password. It is important that you keep your password secret. We will not be liable for any losses resulting from you permitting other persons to use your O2 Online Banking ID and password to access the system or failing to clear the cache from your browser session. If you have more questions about our security systems for conducting transactions safely over the Internet, please contact us.

BROWSER OPTIONS

We recommend your browser settings be set so your browser will check for new versions of Temporary Internet files every time you start your browser.

REGISTRATION PROCESS

The O2 Online Banking service requires that the customer complete the initial registration process. This involves completion of the enrollment form that will identify you to Old Second National Bank and provide certain information that we will need to enable the service. We will verify the information you submit for accuracy and authorizations. In about two business days, you will be notified when your account will be activated.

LOGIN SECURITY

At the time you request the service, we will provide you with a unique "Online Banking ID" and "Online Banking Password" that will be used to gain access to the system. Prior to activation, we will verify your identity and authorization to information associated with the accounts that you requested through the service. You must change your password on your first successful login.

To help prevent unauthorized access and ensure the security of your accounts, we will end your online session if we have detected no activity for 10 minutes. This helps protect you in the event that you accidentally leave your computer unattended after you've logged on.

Because your password is used to access your accounts and we are entitled to act on instructions received under your password, you should treat it as you would any other sensitive personal data. You should carefully select a password that is hard to guess. Keep your password safe. Memorize your password and never tell it to anyone.

Our online security feature allows us to identify the computer(s) you normally use to log on. To assist in preventing someone from accessing your accounts from an unknown computer, we may occasionally need you to verify your identity when you login. This is done by answering security questions that you have already established in the Options section of O2 Online Banking. We will never ask you to e-mail your personally identifiable information such as your social security number or account number.

LOGIN SECURITY (Cash Management Users)
As a business customer, you can establish separate logins for each employee you designate to have access to your Online Banking accounts. The login consists of a unique Cash Management ID and Cash Management password and is in addition to the Online Banking ID and password. This provides you with control over specific levels of access for individual employees. If you set up one or more additional employees for access, you become the administrator and agree to be responsible for establishing and maintaining IDs and passwords.

We also offer a Single Sign On feature that would convert the four credentials, Cash Management ID, Cash Management Password, Online Banking ID, Online Banking Password, into one Single Sign On ID and one Single Sign On Password.

ACCOUNTS
You may request to access any account on which you are a signer or owner. If you desire services that allow you to initiate payments or transfers from the account, you will need the required withdrawal authority over the account to be able to complete the transaction. By using the service, you agree to maintain one or more accounts with us and to keep sufficient balances in your account to cover any transactions and fees that are ultimately approved by or related to the system. We will not be obligated to act on any withdrawal instructions from you if you do not have sufficient funds, including overdraft lines of credit, available in the account you designate. If the accounts added to the service are jointly held or have multiple signers, you agree that access to the information and all transactions initiated by the use of your ID and password are authorized unless we have been notified to cancel the service. Once an account is added, regardless of which of the primary or secondary contacts is the owner, responsibility must be taken by all account holders for all transfers, withdrawals, bill payments, etc. Minor account owners will require the approval of the primary owner prior to debit transfer access being approved.

FEES FOR THE O2 ONLINE BANKING SERVICE
The O2 Online Banking and O2 Bill Payment service is free for all customers. Business customers who utilize treasury services may incur additional fees.

CANCELLATION OF O2 ONLINE BANKING
Your O2 Online Banking may be canceled at any time by us in whole or in part without prior notice to you due to insufficient funds in one of your accounts or other circumstances that may create an unanticipated liability to us. You will remain responsible for all transactions approved by the system prior to the cancellation, and for any other fees associated with the service. After cancellation, service may be reinstated once sufficient funds are available in your accounts to cover any fees and other pending transfers or debits. In order to reinstate the O2 Online Banking service, you must reapply for the service.

BALANCE INQUIRIES, BILL PAYMENTS AND TRANSFERS LIMITATIONS
You may use O2 Online Banking to check the balance of your accounts and to transfer funds among your accounts. According to Federal regulations, you may not make more than six (6) pre-authorized or automatic transfers or bill payments from your Money Market Deposit Account or Savings Account during a given monthly statement period. There are no limits to the number of transfers or bill payments from your Checking Accounts. Currently, the bill payment service is limited only to Checking Accounts. Balances shown in your accounts may include deposits subject to verification by us. The balance may also differ from your records due to deposits in progress, outstanding checks or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. If you have further questions, contact us. The balances are updated in "real- time" and the system will display the most current "as of" date on the "accounts" summary page. Situations may occur that cause a delay in an update of your balances. The system will use the most current balance available at the time of a transaction on which to base our approval. Any information you receive from us through O2 Online Banking is believed to be reliable. However, it can only be provided on a best efforts basis for your convenience and is not warranted or 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.

ACCOUNT ALERTS

You may use O2 Online Banking to receive Account Alerts based on specific criteria that you enter in the Options, Alerts section.  You can choose to receive your Alert notification upon signing into Online Banking, via Email or Text Message.  Providing your mobile phone number and carrier information for text alerts indicates your agreement to our sending text messages to you through your wireless carrier.  We do not charge for the service, but you are responsible for all charges and fees associated with text messaging imposed by your wireless service provider. 

SPECIAL INFORMATION ABOUT THE STOP PAYMENT SERVICE
The system includes several options that provide a means to securely forward your stop payment to us for processing. Generally, requests received from the system will be processed within one business day using procedures that would handle similar requests received by mail or fax. If urgent action is required, we recommend that you contact us directly by telephone or in person. Additional terms of acceptance or disclosures may apply on the Stop Payment service and these terms will be disclosed at the time that you complete the request. The Stop Payment feature is designed to submit a request to stop payment on checks you have written. We do not guarantee the ability to successfully stop a payment within the first 24 hours from the time of the request due to timing issues. The stop payment order is effective for only six months, unless it is renewed in writing. Once a stop payment order expires, the Bank may pay the item. There may be additional fees associated with some of these services. This service is not available to cancel the payments scheduled through the bill payment service. If you have a problem or need to cancel a bill payment, you will need to contact us.

BILL PAYMENT SERVICE
It is easy to pay bills online. Simply set up your Payees by choosing from our large database of electronic vendors that already exist. If your vendor is not listed in our electronic database you may enter the Payee as a check payment. We should be able to process payments to any payee that has a U.S. Postal address.

PAYMENT LIMITS
The daily limit for the total dollars of payments approved is governed by the system’s available balance in the checking account selected for making the payment. You can withdraw up to the system’s available balance as long as your account shows sufficient funds to cover your payments. Bill payments that you initiate are drawn on your checking account(s) like any other check that you write. NSF bill payments will be treated like any other NSF item presented to the bank for payment. Repeated occurrences of NSF bill payments may result in suspension or cancellation of bill payment privileges.

SCHEDULING PAYMENTS 
Please note the following when scheduling Bill Payments through O2 Online Banking:

  • Payments entered on our system after our cut-off time, 12:00 Noon CT each business day, will not be processed until the next Business Day.
  • Payments do not get processed on holidays or weekends. If a scheduled payment falls on a holiday or weekend, it will be processed on the Friday before the weekend, or the last business day before the holiday.
  • If we have to send a paper check in the U.S. Postal System, we typically suggest a Pay On Date that’s at least ten (10) full business days prior to the date that you would like the payee to receive the payment for processing at their address. We are not responsible for postal delays.
  • If the payee accepts the payment electronically, we generally suggest a Pay On Date that’s at least three to four (3-4) full business days prior to the date you would like the payee to receive the payment.
  • Our system assumes the payee/vendor will promptly process the payment on the business day it is received. Any delays caused by the payee/vendor would result in additional delay before the payment would show on their records. We are not responsible for processing delays by the payee.

FEES
The service is free for all O2 Online Banking customers.

NO DUTY TO MONITOR PAYMENTS 
We do not have any duty to monitor payments made through the Bill Payment service. If you are a business and an authorized representative of yours uses your Bill Payment service to pay bills which are not yours, you assume the entire risk of loss and 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 such use.

OUR LIABILITY FOR INCOMPLETE TRANSACTIONS
It is our responsibility to process all bill payments properly initiated through the O2 Online Banking system in accordance with this Agreement. We will be liable for damages, as defined in this Agreement, where the system caused a payment delay or failed to process a payment. We are not responsible for processing delays by the payee.

We will not be liable if any of the following occurs:

  • Funds are not showing on the system’s available balance in your account that is selected to pay for the bill or transfer at the time of transaction.
  • Funds are subject to legal process or other encumbrances restricting the payment or transfer.
  • You had knowledge of or questions about the possible malfunction of the system when you initiated the transaction.
  • Any information provided by you about the Payee is incorrect.
  • There are any delays in the handling or processing of the payment by the Payees or merchants through no fault of O2 Online Banking or our service providers.
  • Natural disasters (for example, fire, flood, tornado) or other uncontrollable circumstances (for example, mail delays, power failures, Internet or electronic funds systems failures, strikes, acts of war or terrorism) prevent proper completion and delivery of transactions.
  • Other applicable laws and/or regulations exempt us from liability.
  • It can be shown that you were attempting to defraud us.
  • It can be shown that the delay was caused by the U.S. Postal Office.

In no event shall the Bank be liable for any direct, consequential, incidental, special or indirect losses or other damages, which you (the “Customer”) may incur or suffer as a result of fraudulent activity to your account(s), identity theft of any sort, or any damage to your computer or telephone service resulting from your use of the Internet to perform online banking, other financial transactions, or other activities as a result of malicious activity to your computer or other technology that is not part of, and under the direct control of, Old Second National Bank.

PAYMENT GUARANTEE
We will reimburse you up to $50 per payment for any late payment fees or penalties you are charged as a result of O2 Online Banking failing to deliver a payment to the Payee/Vendor or not receiving a payment by the Due Date if all of the following apply:

  • You scheduled the payment before the cut-off time on a transaction date at least ten (10) Business Days prior to the Due Date.
  • Information provided to us about the Payee (name, address, account number, and amount) was correct and complete.
  • Your account contained sufficient available funds to complete the payment or transaction on the transaction date.
  • The Payee was a Business Payee that charges late charges or penalties.
  • Late payment fees or penalties were assessed by the Payee, due to the delay of this payment.
  • You received no prior notice from the Payee/Vendor that there was a problem with processing payments from our system.
  • You received no notice within the ten business day period that would have allowed you to alert us of a problem where we could have taken corrective action to remedy the situation prior to the tenth day.

IN NO EVENT WILL WE BE LIABLE FOR ANY CONSEQUENTIAL, SPECIAL, PUNITIVE, INCIDENTAL, OR INDIRECT LOSS OR DAMAGE WHETHER OR NOT ANY CLAIM FOR SUCH DAMAGES IS BASED ON TORT OR CONTRACT OR STRICT LIABILITY OR WE KNEW OR SHOULD HAVE KNOWN THE LIKELIHOOD OF SUCH DAMAGES IN ANY CIRCUMSTANCES.

NOTICE OF YOUR RIGHTS AND LIABILITIES
Notify us immediately if your O2 Online Banking ID and password have been compromised, lost, stolen or used without your authorization. Failure to notify us immediately could result in the loss of all money accessible by the password. Telephoning us at the number listed below in the Errors and Questions section is the best way of limiting your possible loss. You could lose all the money in your account (plus your maximum overdraft line of credit, if you have one). If we are notified within two (2) business days after you discover that your O2 Online Banking ID and password has been compromised, lost or stolen, you can lose no more than $50 if someone used it without your permission. If you do not notify us within two (2) business days, and we can prove we could have prevented someone from using the O2 Online Banking ID and password without your permission, you could lose as much as $500. If your statement shows unauthorized transfers, notify us within 60 days after the statement is mailed to you. After 60 days, if we can prove that we could have stopped someone from taking the money if we had been told, you may not get back any money from us. If a good reason, (such as a long trip or hospital stay) kept you from telling us, we may extend the time periods to a reasonable time. This section applies only to electronic fund transfers that debit or credit your checking, savings, or other asset accounts and are subject to the Consumer Financial Protection Bureau’s Regulation E. We may, when applicable, rely on any exceptions to the provisions in this section that are contained in Regulation E.

ERRORS AND QUESTIONS
In cases of errors or questions concerning transactions completed with O2 Online Banking, do one of the following, as soon as possible:

  • Telephone us at 630-844-4826; or
  • Write to Old Second National Bank, Attn: Treasury Support at 37 S. River Street, Aurora IL 60506; or
  • Initiate a payment inquiry on your PC via e-mail to:onlinebanking@oldsecond.com
  • E-mail us via the secure E-Mail link provided within O2 Online Banking.

We must hear from you within 60 days after you receive the first statement or notification in which the error or problem appeared. Please include the following information:

  • Name
  • Address
  • Account Number and your Online Banking ID
  • Description of the error or what you are unsure about, plus an explanation of why you believe it is an error or why you need more information.
  • Tell us the amount of the error.

For a Bill Payer error tell us:

  • Checking account number used to pay the bill
  • Payee name
  • Date the payment was sent
  • Confirmation number
  • Payment amount
  • Payee account number for the payment in question

We will tell you the results of our investigation within ten (10) business days after we hear from you (20 business days if the transaction involved a new account). If we need more time we may take up to 45 business days to investigate (90 business days if the transaction involved a new account). If we choose to take up to 45 business days, we will give you a provisional credit to your account within ten (10) business days (20 business days if the transaction involved a new account). Your account is considered a new account for the first 30 days following the date the account was opened. Your account will not be considered a new account, provided at the time the account in question was opened, you already had an existing banking relationship with us. If we decide there was no error, we will furnish you with a written explanation within three (3) business days after the investigation is complete.

O2 MOBILE TEXT
The O2 Mobile Text service is a product of Online Banking that allows you to check your balances and transaction history 24/7 via text. You understand that the service is information only and has no functionality to perform transfers or bill payments.

You agree that your usage of our Online Banking Mobile Text service is conditioned on your providing us with a valid mobile phone number and indicates your agreement to our sending you text messages through your wireless provider.

We do not charge for the service, but you are responsible for all charges and fees associated with text messaging imposed by your wireless service provider. You acknowledge that usage of the service does not provide a method to prevent unauthorized access to the service.

The O2 Mobile Text service requires that the customer has Online Banking and completes an initial registration process. This involves completion of the enrollment steps located in the Options / Mobile Settings section of Online Banking.

You understand that balances provided may not include recent or pending transactions that have not yet posted to your account and that other restrictions may apply.

In case of unauthorized access to your mobile device, tablet or service, you agree to cancel enrollment associated with the mobile device and/or tablet immediately. Text the word “Stop” to discontinue the service, or contact us directly.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES
Information to third parties about your account(s) or the transaction(s) you make will only be disclosed if at least one of the following applies:

  • Where it is necessary for completing transfers;
  • In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
  • In order to comply with a summons, subpoena, warrant, or court order;
  • If we have your written permission;
  • In order to advise third parties of accounts closed for misuse;
  • To collect information for internal use, the use of our service providers, and our servicing agents and contractors concerning our electronic funds transfer service;
  • To send a notice of dishonor or nonpayment;
  • To our accountants and/or bank regulators;
  • To furnish information to the appropriate law enforcement authorities when we reasonably believe we have been the victims of a crime;
  • To furnish information about the existence of an account to a judgment creditor of yours who has made a written request for such information;
  • When we are attempting to collect an obligation owed to us; or
  • As may otherwise be permitted or required by law.

NO SIGNATURE REQUIREMENTS
When any payment or other on-line service generates items to be charged to your account, you agree that we may debit the designated account, or the account on which the item is drawn, without requiring your signature on the item and without any notice to you.

VIRUS PROTECTION
Old Second National Bank is not responsible for any electronic virus or viruses that you may encounter. We encourage our customers to routinely scan their PC and diskettes using a reliable virus product to detect and remove any viruses. Undetected or unrepaired viruses may corrupt and destroy your programs, files and even your hardware. Additionally, you may unintentionally transmit the virus to other computers.

TERMINATION
You may terminate the use of O2 Online Banking at any time by contacting us in writing by mail, e-mail, or personal delivery.

GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois.

ASSIGNMENT
This agreement may not be assigned to any other party by you. We may assign or delegate, in part or in whole, to any third party.

OWNERSHIP OF MATERIAL
Old Second National Bank’s O2 Online Banking is a product of Jack Henry & Associates, Inc. Unauthorized reproduction in whole or part is prohibited.

AMENDMENTS
Terms and conditions of this agreement may be amended in whole or part at any time within 30 days’ written notification prior to the change taking effect. If you do not agree with the change(s), you must notify us in writing prior to the effective date to cancel your access. If you use O2 Online Banking after a change becomes effective, you have agreed to any and all changes. Amendments or changes to term(s) or condition(s) may be made without prior notice if it does not result in higher fees, more restrictive service use, or increased liability to you.

ENTIRE AGREEMENT
Accounts and services provided will continue to be subject to any separate agreements governing them, except where noted in this Agreement, and the following:

  • Our rules, procedures, and policies applicable to each account and each service;
  • The rules and regulations of any funds transfer system used in connection with O2 Online Banking; and
  • Applicable state and federal laws and regulations.

This Agreement supplements those and any other agreements or disclosures related to your account(s), including the Deposit Account Agreement and Disclosures. If there is a conflict between this Agreement and any others, or any statements made by employees or agents, this agreement shall supersede. Your use of O2 Online Banking is considered your acceptance of these terms and conditions.

 


 

ONLINE FINANCIAL MANAGEMENT

This Online Financial Management Agreement governs your use of Online Financial Management (“OFM”). This Agreement and all related documents will be referred to as "Agreement." By using OFM, you agree to all of the terms of this Agreement. Please read it carefully and keep a copy for your records.

About OFM

OFM allows you to view and keep track of your financial information, including accounts at various websites, all in one place. Benefits of OFM include:

  • Ability to track accounts and categorize transactions
  • Retain and review account, transaction, budget and goal history
  • Assist in building net worth by tracking toward a budget or goal
  • Monitor activity through alerts

Usage of Third Parties

You may add accounts from other websites through which you maintain other accounts. When you use OFM to access a third party website you designate, you agree that you are a legal owner of the accounts with the requisite authority to access such other accounts whether for OFM or directly as you could do in person. You are hereby granting Old Second National Bank the rights to access the accounts you give us access to for the purposes of accessing the same and operating OFM. You hereby appoint Old Second National Bank as your agent for this specific purpose only. Old Second National Bank and OFM do not have the capability to initiate transactions affecting your financial accounts, and we have no responsibility for such transactions. The information displayed from outside websites is not controlled by OFM or Old Second National Bank. You agree that only third parties are responsible for accounts outside of Old Second National Bank and if you have any problems, you should contact them directly. You represent to Old Second National Bank and agree that you will abide by all terms and conditions of any agreements you may have with any third parties, and you agree you are fully aware of and solely responsible for any and all fees and costs associated with any such third party account. You agree to provide information for OFM that is accurate and up to date without any misrepresentations or omissions. You agree that you shall continue to provide accurate data for as long as you have use of the OFM service.

Old Second National Bank and OFM is not endorsed by any third party account providers, excluding any Old Second National Bank affiliates. OFM AND ALL INFORMATION ACCESSED BY OFM IS FOR YOUR CONVENIENCE ONLY AND FOR INFORMATION PURPOSES AND IS NOT MEANT FOR YOUR TRADING OR TRANSACTION PURPOSES. Old Second National Bank reserves the right, though not the obligation, to prevent access to any third party websites through OFM at our sole discretion. OFM data obtained from third party accounts may not be accurate or up to date and you agree that Old Second National Bank is in no way responsible for the accuracy of such data or any errors or delays in the data content, nor responsible for any action you may take in relying on such data. Further, Old Second National Bank is not liable for any damages or costs of any kind incurred in connection with your use of any third party account or its provider’s services. Old Second National Bank is not an agent of any third party for any third party account we access for you. YOU AGREE THAT OLD SECOND NATIONAL BANK IS ONLY ACTING AS YOUR AGENT WITH REGARD TO THESE THIRD PARTY ACCOUNTS AND FOR THE LIMITED PURPOSES STATED HEREIN AND NOT AS AN AGENT OF ANY THIRD PARTY. You agree to receive and use OFM without any warranties whatsoever as to completeness or content. You agree that OFM is provided without warranty and that OFM has been priced accordingly.

Commercial Use Prohibited

You agree that you will not utilize OFM for any purpose other than personal, and you agree you will not market, commercialize or resell the services of OFM in any manner.

Indemnification

Notwithstanding anything to the contrary herein, you agree to defend, hold harmless and indemnify Old Second National Bank and our affiliates and service providers from any and all third party claims, liability, damages, costs and expenses, including but not limited to reasonable attorneys’ fees, arising from your use of OFM and your violation of any of the terms of this Agreement.

Incorporation of Terms

The terms of Old Second National Bank’s general terms of use regarding our website, Old Second National Bank’s Privacy Policy, Old Second National Bank’s Online Banking Terms & Conditions, and your Deposit Account Terms and Conditions Agreement associated with your Old Second National Bank deposit account(s), as each may be amended from time to time, are each hereby incorporated as part of the OFM terms and conditions use.

 


 

ONLINE BANKING ACH BANK TO BANK TRANSFER AGREEMENT

This “Agreement” is made on the date it is accepted in O2 Online Banking by and between the Users and Old Second National Bank and its successors and assigns (the "Bank”).

The User(s) desires to initiate Entries through use of the Bank’s O2 Online Banking service for (i) the transfer of funds from the User(s) account(s) held at the Bank to a checking and/or savings account of the User(s) at other Participating Depository Financial Institutions Outbound Transfer) and/or (ii) the transfer of funds from a checking and/or savings account of the User(s) at other Participating Depository Financial Institutions to a checking and/or savings account of the User(s) held at the Bank (Inbound Transfer). Entries to accounts when the User(s) is not an owner of the account are prohibited unless the O2 Online Banking Commercial ACH Bank to Bank Transfer Request form is provided to and approved by the Bank. In those cases the User desires to initiate certain electronic funds transfers effected through the automated clearing house (“ACH”) for (a) deposit of funds to accounts of other parties maintained at the Bank and/or at other financial institutions.  Entries will be originated based on instructions communicated to the Bank by the User.  The Bank agrees to process, transmit and settle Entries received from the User which comply with the terms of this Agreement.

  1. General Definitions. When they are used in this Agreement, the following terms have the meanings indicated:

 (a) ACH means Automated Clearing House, and includes any Automated Clearing House Operator.

 (b) Average Federal Funds Rate is calculated using the Federal Funds Rate of the Federal Reserve Bank of New York as posted in the Wall Street Journal for each day of the period involved.

 (c) Business Day means a day on which the Bank is open to the public for carrying on substantially all of its business, other than a Saturday, Sunday or Federal Reserve Holiday.

 (d) Effective Entry Date means the settlement date with respect to a particular Entry.

 (e) Entry and Entries mean the data received from the User(s) under this Agreement, from which, the Bank prepares the transaction to move funds from/to the other Participating Depository Financial Institution.

(f) NACHA stands for the National Automated Clearing House Association.

 (g) Participating Depository Financial Institution means any financial institution that receives ACH entries and posts them to their depositor’s accounts or initiates ACH entries at the request of and by agreement with its customers.

 (h) Time in this Agreement refers to Central Time.

 (i) Request Form means the O2 Online Banking ACH Bank to Bank Transfer Request form.

  1. Processing. The Bank shall not be obligated to process, transmit or settle Entries unless all of the following requirements and conditions have first been satisfied or are waived by the Bank in its sole discretion:

 (a) The total number of and amount of Entries submitted by the User(s) to the Bank for settlement on any one day shall not exceed the pre-approved limits on the signed Request Form.

 (b) All Entries for today’s Business Day must be received by the Bank prior to its 2:00 p.m. Central Time cut-off in order to be processed on today’s Business Day.  In addition, the Effective Entry Date for each Entry must be not more than 10 Calendar Days after receipt of the Entry by the Bank.

 (c) All Inbound Transfer Entries will not be available to User(s) for a minimum of three (3) Business Days.

 (d) User(s) must have sufficient available funds for all Outbound Transfer Entries at the time the Entry is processed.

 (e) The ACH must be open for business on the Business Day for any Entries that are to be processed.

 (f)   Transfers.

Incoming Transfer Requests.  An incoming transfer is used when funds will be transferred from your external account into your Old Second account.  Old Second may request proof of ownership verification at any time.  A Request Form is required for enrollment and shall reflect all valid accounts from which Entries may be made, along with all required information to identify said accounts, including without limitation, account numbers, routing numbers, account ownership and name(s) of financial institutions for the User(s) as reflected in the records of the Bank and the Participating Depository Financial Institution, as evidenced by voided check, as well as any other appropriate documentation requested by Bank to reflect the ownership of said account.

Outgoing Transfer Requests.  An outgoing transfer is used when funds will be transferred from your Old Second account to your external account.  Customers wishing to perform Outgoing Transfers only may enroll online and the auto verification method is used.  One or two small deposits will be made to each external account.  The amounts must be confirmed by typing the values of the deposits within the Old Second Online Banking service.  Once the amounts are entered, the account is approved.    For Outgoing Transfer Requests over the $2,500.00 default limit, a Request Form is required.

For entries where funds are being transferred between accounts not owned solely by the same user(s), an O2 Online Banking Commercial ACH Bank to Bank Transfer Request form must be submitted and approved.  This option is for Commercial customers only.  For entries where funds are being debited, the form must be notarized upon request and approved by Old Second Bank if request exceeds $2,500.00 per transfer for personal accounts and $5,000.00 for business accounts.  Any additions and/or deletions requested by User(s) to said account information shall require immediate modification to and replacement of a properly executed amendment to the original Request Form. The User(s) agrees that the purpose of the Request Form is to verify the account information from which Entries shall be made to or from said accounts and not to detect an error in the content of any Entry. No security procedure for the detection of such errors has been agreed upon by the User(s) and the Bank.

 (g)  Receiver Authorization.  The Company has obtained from each Receiver an authorization to initiate one or more Entries to the Receiver's account.  Such authorization must (i) have been obtained before the Company initiated the first Entry to that Receiver's account; (ii) remain valid and not revoked at the time of each subsequent Entry; (iii) relate to a Receiver whose arrangement with the Company has not been terminated; (iv) be immediately available for inspection by the Bank upon its request; (v) upon termination, be maintained by the Company for 3 years.

  1. No Implied or Mandatory Waivers. Waiver of any of the requirements identified above shall always remain completely discretionary with the Bank. Waiver by the Bank of any requirement with respect to one or more Entries on one or more occasions shall not create a requirement or give rise to a presumption of future waivers with respect to other Entries. The Bank shall never be obligated to waive any of the requirements based on a pattern or practice of waivers, or based upon any verbal agreements, understandings or representations that such waivers would be made.
  2. Rejection of Entries. The Bank may reject any Entry for any reason. The Bank shall notify the User(s) of such rejection by no later than the Business Day after the Effective Entry Date for a rejected Entry. The Bank shall not be liable to the User(s) for (a) the rejection of an Entry, (b) the User(s) failure to receive or delay in receiving notice given by the Bank, (c) the Bank’s choice of one means of notification rather than another, or (d) the failure to give notice of the rejection to the User(s) at an earlier time than provided herein. The Bank shall not be required to pay the User(s) interest or any other losses relating to a rejected Entry.
  3. Inconsistent Entries. If an Entry transmitted by the Bank to a Participating Depository Financial Institution describes the User(s) inconsistently by name and account number, the Participating Depository Financial Institution might make payment solely on the basis of the account number, even if it identifies a party different from the User(s). The User(s) understands and acknowledges that its obligations for this Entry are not excused by such circumstance.
  4. Account Ownership; Amendments. The User(s) agrees to immediately notify the Bank of any changes in ownership on all account(s) governed by this Agreement. The Bank reserves the right to suspend transfers until such time as verification of ownership is confirmed. Any changes to account ownership must be evidenced by a new Request Form with the Bank to be properly executed by all account owners of record. User(s) agrees to immediately refund the Bank for funds arising out of or in connection with any disputed Outbound or Inbound Transfers.
  5. Cancellation or Amendment of Entries. The User(s) shall have no right to cancel or amend an Entry after it has been delivered to the Bank. Any request for cancellation or amendment of an Entry must be submitted in writing and signed by the User(s). If such a request is received by the Bank before the affected Entry has been transmitted to the ACH, the Bank will use reasonable efforts to cancel or amend the Entry as requested, but the Bank shall have no liability if the cancellation or amendment is not affected.
  6. Reversals. The User(s) may initiate a reversing Entry or file of Entries, and the Bank will use reasonable efforts (though the Bank is not required to accept any request for reversal) to effect a reversal of an Entry or file of Entries if (a) the account holder of the reversing Entry must have been notified of the reversal, and the reason for the reversal, no later than the settlement day of the reversal, (b) it is accompanied by a Reversal/Cancellation Request form, properly signed by the User(s), and (c) in compliance with the Operating Rules of NACHA, as applicable. For both reversing Entries and files, the User(s) indemnifies all parties to the transaction(s) from and against any claim, demand, loss, liability or expense.
  7. Notice of Returned Entries. The Bank shall notify the Company of the receipt of an Entry returned by the ACH no later than one (1) Business Day after the Bank’s receipt of the returned Entry, provided that the Bank shall have no liability for any failure or delay in providing such notice.  Unless otherwise agreed to in writing, the Bank shall have no obligation to re-execute or retransmit a returned Entry.
  8. Security Procedures. The User(s) has the sole responsibility to establish and maintain procedures to adequately safeguard against unauthorized Entries. The User(s) agrees to comply with the security procedures described in User(s) original Online Banking Terms & Conditions, and your use of any of the services hereunder or otherwise governed by the Online Banking Terms & Conditions indicates your agreement that such security procedures are commercially reasonable.  The User(s) warrants that no other person(s) will be allowed to initiate Entries other than the User(s), and the User(s) agrees to take all reasonable steps to maintain the confidentiality of any user IDs, passwords, codes, security devices and related instructions provided by the Bank in connection with the services agreed to hereunder. If the User(s) believes or suspects that any security information or instructions are known, compromised, lost, stolen or have been accessed by unauthorized persons, the User(s) shall notify the Bank immediately. Telephoning the Bank at the number listed in Section 16 hereof is the best way of limiting your possible loss. Failure to notify the Bank immediately could result in the loss of all money in your account (plus your maximum overdraft line of credit, if you have one).

An Entry (including a request for cancellation or amendment of any Entry) or other communication delivered to the Bank that purports to have been submitted or authorized by the User(s) in accordance with the terms of this Agreement shall be effective and binding upon the User(s) even if the Entry was not in fact authorized by the User(s), provided the Bank has accepted the Entry in compliance with the terms of this Agreement and has acted in good faith.

The User(s) may add or delete any account information at any time by a properly executed amendment to the request form, which shall be effective on the second Business Day following the Bank’s receipt of it.

The User(s) acknowledges the risks associated with internet payments and agrees to maintain the appropriate safeguards on all computers used for ACH and electronic banking, including but not limited to the implementation of reliable and up-to-date malicious code detection systems, regular scanning and eradication of malicious code and intrusion detection systems. In addition, the User(s) will conduct these processes with persons qualified to perform such functions.

If the User(s) chooses to communicate any Entry (including any amendment thereto or cancellation thereof) to the Bank in a manner that varies from the Security Procedures referred to in this Agreement, and if the Bank accepts such Entry in good faith, then the User(s) agrees to be bound by such Entry, whether or not authorized, and the Company will be deemed to have refused to act under this Agreement in compliance with these Security Procedures, and the User(s) will be obligated to pay the Bank the amount of such Entry.  However, the Bank has no obligation to accept any Entry that is not communicated in compliance with these Security Procedures.  The Bank shall not be responsible for refusal to act upon any Entry received which does not comply with this Agreement, including where the Bank’s reasonable efforts to verify the Entry in accordance with these Security Procedures have failed or where such action is delayed until verification can be obtained.

  1. The User(s) Account at the Bank.

 (j) Outbound Transfers. On any particular day, the User(s) shall have sufficient collected funds available in the applicable User(s) account(s) to pay the amount of all Outbound Transfers originated by the User(s) for which that day is the Effective Entry Date, together with all adjustment entries, fees and other amounts that the User(s) is obligated to pay the Bank under this Agreement.

(ii) Inbound Transfers. The User(s) shall at all times have sufficient collected funds in the applicable User(s) account(s) to pay the amount of all returned or reversed Inbound Transfers, in addition to the amount stated in subpart (i) above.

 (iii) Right of Setoff; Other Remedies. The Bank may, without prior notice, obtain payment of any amount due and payable to it under this Agreement by debiting the User(s) account(s) maintained by the User(s) with the Bank or any of its affiliates, and may also credit the User(s) account(s) for any amount to which the User(s) is entitled under this Agreement. If there are insufficient funds available in the User(s) account(s) to pay any amount that the User(s) owes to the Bank under this Agreement, the User(s) shall pay any amounts due immediately upon demand. If the User(s) fails to pay when demanded, the Bank may exercise any remedies or rights it has under this Agreement and/or applicable law.

(iv) In accordance with the operating rules governing NACHA, the Bank is not required to and will not provide the User(s) or Participating Depository Financial Institution(s) with notice of the receipt or execution of User Entries. Entries and other debits and credits to the User(s) account(s) will only be reflected on the periodic statement for the User(s) account(s). If the User(s) discovers an erroneous or unauthorized Entry on the periodic statement, the User(s) will immediately notify the Bank and the Participating Depository Financial Institution. Subject only to those limitations imposed by law, the Bank shall not be liable for any interest or related issues resulting from the User’s failure to give such notice.

  1. User(s) Representations and Warranties.

For each Entry that the User(s) delivers to the Bank, the User(s) represents and warrants that: (a) the Entry complies with the terms of this Agreement; (b) the User(s) has not breached any warranty contained in this Agreement; and (c) the Entry complies with all local, state and federal laws and regulations, including but not limited to and as applicable, Regulation E – The Electronic Fund Transfers Act, the operating rules of NACHA, the Uniform Commercial Code (“UCC”), and all Office of Foreign Assets Control (“OFAC”) regulations and policies.

  1. Liability of the Bank; Limitations of Liability.

 (i) The Bank shall be responsible only for performing the services it expressly agrees to perform in this Agreement, subject to all of the limitations provided herein. The Bank shall not be responsible or liable for (a) any acts or omissions of the User(s), including without limitation, the amount, accuracy, timeliness of delivery or the User(s) authorization of any Entry delivered to the Bank, or (b) any acts or omissions of any other person, including without limitation, NACHA, any Federal Reserve Financial Institution, any ACH, transmission or communications facility, any data processor company, or any Participating Depository Financial Institution. No such person or entity shall be deemed the Bank’s agent.

 (ii) If the Bank is notified within two (2) Business Days after the User(s) discovers that their O2 Online Banking ID and password have been compromised, lost or stolen, the User(s) can lose no more than $50 if someone used it without the User’s permission. If the User(s) fails to notify the Bank within two (2) Business Days after the User(s) discovers that their O2 Online Banking ID and password have been compromised, lost or stolen, the User’s liability shall not exceed the lesser of $500 or the sum of: (i) $50 or the amount of unauthorized transfers that occur within the two (2) Business Days, whichever is less; and (ii) the amount of unauthorized transfers that occur after the close of two (2) Business Days and before notice to the Bank, provided that the Bank establishes that these transfers would not have occurred had the User(s) notified the Bank within that two-day period.

 (iii) For consumer accounts, if the User’s periodic statement from the Bank shows unauthorized transfers, the User(s) must notify the Bank within 60 days after the statement is mailed or otherwise delivered to the User(s) to avoid liability for subsequent transfers. After 60 days, if the Bank can prove that it could have stopped someone from taking the money had the Bank been notified within the 60 day period, the User(s) may not be entitled to any return of funds from the Bank. If the User(s) delay in notifying the Bank was due to extenuating circumstances, such as a long trip or hospital stay, the Bank may extend the time period specified herein to a reasonable period. This paragraph applies only to electronic fund transfers that debit or credit the User’s checking, savings, or other asset accounts and are subject to the Consumer Financial Protection Bureau’s Regulation E. The Bank may, when applicable, rely on any exceptions to the provisions in this paragraph that are contained in Regulation E.

 (iv) The Bank shall be liable only for direct damages caused by its gross negligence in performing agreed-upon services. In no event shall the Bank be liable for any consequential, special, punitive, or indirect loss or damage, which the User(s) may incur or suffer in connection with this Agreement, including without limitation, any loss or damage from subsequent wrongful dishonor resulting from the Bank’s acts or omissions in performing its services under this Agreement.

(v) The Bank shall not be responsible for any failure to act or delay in acting if such failure is caused by legal constraint, the interruption of transmission or communications facilities, computer malfunction or equipment failure, war, emergency conditions, or other circumstances beyond the Bank’s reasonable control. In addition, the Bank shall be excused from any failure to transmit or any delay in transmitting an Entry if such transmittal would, in the Bank’s reasonable estimation, result in the Bank having violated any policy or provision of any present or future risk control program of the Federal Reserve, or any rule or regulation of any other governmental or regulatory authority.

(vi) Subject to the foregoing provisions, in the event the Bank is found liable for any direct damages caused by its gross negligence, any liability which the Bank may have for loss of interest for an error or delay in performing its services hereunder shall be calculated by using a rate equal to the Average Federal Funds Rate of the Federal Reserve Bank of New York for the period involved.

(vii) The User(s) shall defend, indemnify, and hold harmless the Bank, and its officers, directors, agents and employees, from and against any and all actions, costs, claims, losses, damages, or expenses, including attorney’s fees and expenses, resulting from or arising out of (a) any breach of any of the agreements, representations or warranties of the User(s) contained in this Agreement (including without limitation, the User’s failure to adequately safeguard against unauthorized Entries); or (b) any act or omission of the User(s) or any other person acting on the User’s behalf, including but not limited to the parties described in the first paragraph of this Section 14. Further, the Bank cannot and will not be responsible for damages resulting from the User’s failure to properly secure their own computing and networking systems from intrusion, malicious code insertion, and other actions that result in compromise to the User’s assets. Accordingly, the User(s) agrees to indemnify and hold Bank and its officers, directors, employees and agents free and harmless from and against all losses and damages incurred as a result of the User’s failure to properly secure their own computing and networking systems, subject only to those limitations of liability imposed by law.  The provisions of this paragraph shall survive termination of this agreement.

  1. Termination.

The Bank may terminate this Agreement at any time without reason by notifying the User(s). The Bank may terminate this Agreement without notification if the User(s) breaches any of its obligations under this Agreement.

The User(s) may terminate this Agreement at any time by providing ten (10) Business Days’ prior written notice to the Bank. Termination of this Agreement shall not affect any of the Bank’s rights or the User’s obligations hereunder with respect to any Entries initiated by the User(s) prior to such termination. Termination of this Agreement does not relieve the User(s) of their obligations under this agreement.

  1. Instructions and Notices.

Except as otherwise provided herein, any notice to the Bank under this Agreement must be in writing and delivered by messenger or express carrier, or sent by U.S. mail, to Old Second National Bank, 37 S. River Street, Aurora, IL 60506, Attn: Treasury Support Department, unless the Bank provides the User(s) with a substitute address in writing. Any notice shall be deemed given to the Bank when it is actually received by the Bank.

In addition to written notification to the Bank, if the User(s) believes or suspects that any security information or instructions are known, compromised, lost, stolen or have been accessed by unauthorized persons, the User(s) shall notify the Bank immediately by contacting us at (630) 966-2455. Failure to notify the Bank immediately could result in the loss of all money accessible by the password.

Whenever this Agreement provides for the Bank to “notify” the User(s) or give “notification” or “notice” to the User(s), that requirement may be satisfied by telephone, facsimile, electronic transmission (including “e-mail”), messenger or express carrier delivery, or the U.S. mail. Notification shall be deemed given to the User(s) (a) in the case of telephone communication, upon verbally conveying the required information to the User(s) or by leaving a voice-mail or other recorded message; (b) in the case of facsimile or electronic transmission, upon transmission of the required information by the Bank; and (c) in the case of writing, upon its receipt at the User’s address, as said address is reflected in the Bank’s records.

  1. General Provisions.

 (i) Entire Agreement. This Agreement, the Request Form and the Electronic Fund Transfers (EFT) disclosure (given to you at time of application) constitute the entire agreement between the Bank and the User(s) and supersede all prior agreements or understandings, written or verbal. In the event there is any inconsistency between this Agreement and the Bank’s Terms and Conditions for Deposit Accounts or the Depository Agreement, the terms of this Agreement shall govern.

 (ii) Amendment by the Bank. Except as provided in Section 12, the Bank may amend this Agreement from time to time upon written notice to the User(s). In the event that performance of services under this Agreement would result in a violation of any present or future statute, regulation or governmental policy to which the Bank is subject, then this Agreement shall be amended to the extent necessary to comply with such statute, regulation or policy. Alternatively, the Bank may terminate this Agreement if it deems such action necessary or appropriate under the circumstances. The Bank shall have no liability to the User(s) as a result of any such violation, amendment or termination.

 (iii) No Other Modifications. Except as provided in Section 13 and 16(ii) above, this Agreement may only be modified or amended in writing, signed by both parties. Any practices or course of dealings between the Bank and the User(s), or any procedures or operations alterations used by them, shall not constitute a modification of this Agreement, nor shall they be construed as an amendment to this Agreement.

 (iv) Assignment; Binding on Parties and Successors. The User(s) may not assign its interest or rights under this Agreement without the prior written consent of the Bank, and any purported assignment in violation of this Section shall be void. This Agreement shall be binding upon and effective for the benefit of the parties hereto and their respective legal representatives, heirs, successors and permitted assigns. This Agreement is not for the benefit of any other person or entity, and no other person or entity shall have any rights against the Bank or the User(s) hereunder.

 (v) Headings. The headings used in this Agreement are for convenience only, and shall not be construed as part of the parties’ agreements and understandings.

 (vi) Governing Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Illinois without regard to its conflicts of laws rules.  User(s) hereby irrevocably submits to the exclusive jurisdiction of the courts of the State of Illinois located in Kane County, Illinois and the courts of the United States of America for the Northern District of Illinois located in Chicago, Illinois, and User(s) agrees that any legal action or proceeding with respect to this Agreement may be brought in such courts.  User(s) and Bank each hereby irrevocably waive any right to trial by jury in any claim or cause of action arising out of or related to this Agreement.

 (vii)  Financial Information.  For commercial accounts, the Bank may from time to time request financial information from the Company in order to evaluate a continuation of ACH Services under this Agreement and/or adjustment of the ACH Processing Limits.  The Company agrees to provide the requested financial information immediately, of the type and in the form required by the Bank.  If the Company refuses to provide the requested financial information, or if the Bank concludes in its sole discretion that the credit risk of the Company is unacceptable, the Bank may terminate this Agreement as provided herein.